I purchased a nice flat 1/2 acre lot in an area where raw land is hard to find. Did good on the buy and could probably flip it for roughly 20% profit. Considering taking advantage of a really hot rental market and building three "tiny homes" and renting them for roughly five years before selling. Does anyone have any experience in adding "tiny homes" to raw land as rentals? Thanks for any insight!
Start with zoning. I think in most places you have to be zoned as a trailer park to make it work legally. You need to then fulfill all of the requirements for that. Its a great concept, but hard to pull off above the radar.
You can also consider manufactured homes if the zoning allows.
I own a small 6x12 tiny house. Its finished on the outside. The inside is still unfinished. Its designed to be a very energy efficient/comfortable building. I use it for storage for now.
I agree with checking on the zoning. I'm totally obsessed with Tiny homes and have gotten so much info from YouTube under tiny, micro and container homes. There are so many informative channels there now that the Tiny home phrase has really kicked off over the US. I am starting a 'small' project of my own in a 425 square foot space on my property. It will definitely be a high end office/storage space. Maybe I will share my progress here. Happy building Small!
Thanks for all the help everyone. I really appreciate all the insight! Turns out the lot is zoned "Resource". It has been platted, but is non-conforming so it can only have one single-family dwelling at a time. Back to the drawing board!
For anyone else interested in this, I would be asking the questions about the water and septic and power. I love this idea, and think you would need to start with a conversation with the city. You would be pretty much developing the lot with hook-ups like an RV park. I think this may be a big trend in the coming years, but who knows how long it would last and what's the exit strategy on a mini-RV park in the middle of a city???
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