Last year we bought 2 cottages on 1 parcel of land... neither are winterized & are seasonal since they are located in Maine by the ocean. They are located in a very convenient vacation spot for beach goers. The only utility shared is the water & the land. Separate cable/internet & electric
Here is my question...would it be wise to condo the properties , keep 1 unit and sell off the other....applying proceeds to my mortgage.
Stephen, I am not sure about the question, but I have a couple buyers looking for seasonal ocean properties, so if you do end up splitting them, I could have someone interested in buying them. Thanks, and best of luck.
Josh...so sorry...i sent it without the background info....
I have 2 cottages on 1 parcel of land in Wells Me, steps from the beach... I was throwing around the idea of setting up properties to condo...keeping 1 and selling the other.
The only joint expenses would be lawn care & taxes.
We could always keep both...selling off 1 would give us more capital to reinvest in a multi unit residential property.
Thanks in advance for you thoughts