Our lot is Subdividable, how do we start?
(Seattle suburb) With .75 acre corner lot, one 80 yr old house, one workshop with power. According to zoning (RS 7.2) this could become 4 lots, utilities are available. No right of way taken on side street, concerned about city's perspective, loss of square footage. The goal is to create capital to begin developing passive income, enough to start planned investments.
Options we see:
1) Make ADU or house out of workshop, move out, rent both.
2) Subdivide, find Builder/Partner, Build one, payoff house, finance 3 based on one success. Sell 4 SFU
3) Work with Developer to get whole deal financed, share more of profits. Sell 4 SFU
4) ReZone? Duplexes, see #3, keep and rent or Sell.
What professional do we start with, builders or developers? Are there strategies around financing that will determine best outcome?
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