Hello- I am considering purchasing a property that is a main home (3 bed 3 bath) with an attached apartment over the garage (1 bed, 1 bath) with separate entrance.

However we are pulling permits to renovate a garage into a adu.

Because of that success, and the tourism of Santa Fe, I'm assuming a STR will likely out preform a LTR with modern amenities, design, etc in place.  

With $65,000 invested in strategic renovations, we transformed the home by modernizing key areas and enhancing its curb appeal.

Each unit is 3bd/1.75ba, single car garage and fully fenced backyard. 

Purchase price: $305,000 Cash invested: $80,000Single Family home in a 55+ community. 2 Bed 2 Bath, attached 2 Car Garage.

The three single car garage spaces are vacant and not durrently being utilized and can be monetized through rent.

The key difference, though, was he spent months carefully getting to know the local architecs, reputable builders, and even a couple of niche design firms that specialize in modern builds for mid- to high-end buyers.

$85K seems extremely low for a garage conversion.

Purchase price: $265,000 Cash invested: $200,000 1930’s historic home with a converted garage.