All Forum Posts by: Teri Feeney Styers

Hi Matt - I'm a property flipper over in Grand Junction. 

It sounds like both parties are novices - I would be leery of doing that paperwork myself. Title companies usually charge about $150 to prepare the documents and settlement sheets. $900 seems high for a title policy - you've only owned the property a year. Was there no policy issued at the time of purchase? If there was, then the "trade-in" value should be about half - so maybe you pay $500. These proceeds are out of closing settlement funds. You don't have to pay up front. The title company will also have documents for the note you are carrying back. Again - this transaction isn't all cash so that makes it trickier. I encourage you to get some professional guidance. If things run awry, you'd pay way more than $500-$1000 to fix it... 

@Chris Seveney The concept isn't that much different than apartments... I think you would attract a different (maybe better?) demographic. I'm not sold on the house on wheels concept because I don't need that in my county to create a legal dwelling. I think using them as "infill" on existing lots with existing homes would be a pretty good strategy. Even zoning for SFR frequently allows for an "accessory dwelling unit" (ADU).

@Mike Alder I just completed a "tiny apartment" on the end of a SFR - 180 square feet. I also retained a building lot next door to it where I plan to construct two tiny homes (no cost figures as yet). In my county a legal home must contain: a bathroom (incl. a sink, toilet, shower or tub), cooking facilities (incl. another sink), sleeping quarters and a closet. Other requirements included their own control / source of heat and 24/7 access to their breaker box (more because this was a unit attached to another and they want to make sure one party can't lock another party out of access to heat and power. ) Anyway, I fit all these requirements into a room 8.5x21ft. Attached are photos of the kitchen & bath. If a home contains all these items then square footage isn't the issue. However, there are neighborhood HOAs that require houses of a certain size. Certain costs don't scale - a sewer tap costs the same whether you are building a tiny house or a mansion. I prefer not to build on a trailer - that has utility & width limitations. It also can create accessibility issues due to the need to raise it off the ground. And in this part of the country you are vulnerable to frozen pipes by allowing too much air to circulated underneath.

@Desiree Victory get one bought, live there two years while learning as much as possible, fixing it up, etc. If it can be a duplex even better. If you can make other investments while being a homeowner good for you. If not, at least you got your feet wet and hopefully made a little money while learning. 

@Trista Howell I grew up in Auburn but left Washington in the mid-60's. Sounds like you guys have complementing skills. I have worked on many projects and small businesses with my husband. Our differing skill sets made us a good team; but be cautious about being "business partners" 24/7 - create some time where company chat is off limits (like dinner time to bedtime - and at least one day per week). 

@Gabriel Garces perhaps you could link yourself with a development group or some subdivisions that require engineers for their houses. I am an HOA manager and we require both engineered foundations and drainage plans for every new unit. You could also join your local builder's association to garner connections. If you are community minded you could offer your services pro-bono to Habitat or some other charity (here we have Catholic Outreach) that does low income developing.

@Douglas Larson I bought your book. 

@Account Closed that link you provided is a very cool concept - I like the shared common area & guest house. I plan to use "infill" as part of my strategy for adding ADUs to existing properties. I may or may not subdivide any more lots - it is rather expensive and doesn't necessarily scale (fees are the same for a cheap small lot as for an expensive large lot). But adding ADUs in backyards, etc. is definitely something I would do again. 

@Cameron Price the reasons you list are the ones closer to my philosophy as well. There are a number of reasons why people would need affordable housing and living tiny may be a requirement to acheive that affordability. There a huge bubble of baby boomers about to retire who haven't saved much - and social security only goes so far... they aren't raising families so don't need tons of space. That's just one demographic. BTW: we set our youngest son up in an older motorhome at our local dragstrip when he was in college. He was the "night watchman" for the facility in exchange for free water and electricity. It was a great set-up for a poor student.