Couple weeks ago, had a realtor friend do an informal walkthrough & advice on how to proceed. Was useful, and pleasant to hear for that matter.
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Replying to @kendrictonn
curious re realty advice (I'm a RE junky, and going through involuntary cold turkey - inventory on http://realtor.com in town is down to roughly ZERO bc winter / covid / city slickers buying up stuff )
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Replying to @MorlockP
Didn't end up being anything too esoteric, "things look good, yeah, finish your projects." Did suggest that, if I can make the BnB section flow a little more like a single-family dwelling as I finish the things there, it's likely to command a premium.
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Replying to @kendrictonn
remind me how the house is broken up? 2 halves? 3 thirds? other? would it sell as a two family house, or something else?
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Replying to @MorlockP
In essence two halves, separate addresses. The BnB section I carved up, but in a way that could be easily un-carved. I'd definitely be trying to sell them as a package, I don't want to wash only one hand
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Replying to @kendrictonn
right, right, I know you'd sell the whole thing what I'm asking is "what does the market reward - selling it as a large 1 family house, or selling it as a 2 family house, or ... ?"
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Replying to @MorlockP
Oh, oh, misunderstood. Realtor's opinion was that the optimal choice was "two properties that work as two single-family residences", instead of "single family residence + investment property."
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Replying to @kendrictonn
I've never lived in a 2 family house (tho
@mr_archenemy has). How does it work? Do you form a micro condo association, and then sell each half as a condo?2 replies 0 retweets 1 like -
Replying to @MorlockP @mr_archenemy
Precisely! It's actually slightly more complex: the building is a large 1909 that was build (i hear) as a duplex by two brothers, and was later subdivided and condoized. I own two units, which is one original half.
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We have a condo association, which is basically me. The condo charter calls for rotating it, but when I have half the units, the administrative burden of changing it would be way higher than the burden of just doing it
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are there other owners / units ?
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