! MY FIRTS DEAL EVER!

[Eder Aldana]

Hello BP !

I have been searching for a deal for more then two years in my town , located in Westchester county , NY. Real State can be very expensive around this areas, that being said , I found a deal that works for me as I will be House hacking. THE PROPERTY: I purchase a 4 family house , that has a detached two car garage. I obtain the property with a FHA loan. The house was 395K with 15k seller concession for the closing cost, 4% interest Rate. With my wife and I living in one of the apartment's we break around even, which is great because if we were to rent in our town we probably pay about $1200 for a one bedroom apartment.

MY PLAN/QUESTION? What I want to do is convert my 2 car garage  that is around 600sq into a tiny home/apartment for my wife and I. I ran the numbers it will cost me around 20K with materials and help from plumber and electrician, I will be doing most of the work my self and  family , since we have construction background. This way I rent out the 4th unit , which will bring me extra cash flow.

ANY ADVICE IS WELCOME! PLEASE AND THAK YOU!  

[Jared W Smith]

I am an architect whom lives and practices out of Westchester County. I do not think you could legally create a "tiny house" from the garage. Currently the garage is classified as an accessory structure and not habitable. You would be converting this to a 2nd building/home on the same lot (unless home spans more than one lot). Zoning, setback requirements and a list of other things would have to be reviewed. Let me know if you need help @Eder Aldana