I currently owner occupy a duplex that sits on a double lot. The larger portion is rented out for $950 monthly on a freshly signed 18month lease. I have been kicking the idea around of selling 30-40% of the ownership/equity to a business partner whom I have already partnered up with on some deals. I bought the place for $69,900 back in 2016. I have remodeled the upper unit and plan on doing the lower unit by the end of October(new vinyl plank floors, trim, paint, tile a shower, backsplash etc). Upon completion of the renovations I expect the building to be worth between 160-180k(the area I bought in became booming about a year after my purchase).
I have considered selling the equity share and using the proceeds to build a tiny house in my back lot and then Air BnB the downstairs apartment while I live in the tiny house. My potential partner on this deal and myself both feel that the downstairs apartment could easily generate 1600-2000 per month in addition to the rent of $950 from the upper unit. Has anyone here ever sold an equity share of one their buildings? How did you price the equity that you sold? Ive been thinking $25,000 for 35%. any input is appreciated
