Investor · Monsey, NY · Member since 2017 · 43 posts · 12 votes
Greetings Everyone!
I am a new investor from Rockland County, NY and recently joined the BP Community.
There is a lot to learn and I am excited about Networking and collaborating with other Investors on BP! I have started attending BP MeetUps in the area.
To start with, I would like to discuss the following topic
I have owned my primary residence since last 10 years. My plot size is 0.8 acres. Currently the house sits on part of the plot - 0.3 acres which is nicely landscaped and fenced. The other almost 0.5 acres is wooded and unused. I thought of building another house there for renting but my town laws allow only 1 House for 1 acre or less of land. Any ideas on how I may be able to monetize on this unused piece of land?
Many areas allow ADU (Accessory Dwelling Units) or In Law units, does yours? If so, that is considered an actual residence that can be rented, etc. in many areas. You might check to see if your town allows that.