All Forum Posts by: Dan Oconnell

Originally posted by @Michaela G.:

Don t know your area,    but here there's no general residential zoning. Residential neighnorhoods are zoned for sfh or duplexes etc.

My neighborhood has a lot of duplexes, which used to he zoned for that. Zoning changed to sfh in 2005 and those duplexes are now grandfathered in. But I wouldn't be able to build a new duplex.

Roadfrontage is also very important. If current zoning requires 60' road frontage and your lot only has 50....the. That's a problem.

The neighborhood is zoned R-6. So I found on the county website this...

R-6 These districts exist for the protection of areas that (General Residential District) generally contain older residential structures, some of which were originally large single family dwellings which have been or may be converted to rooming houses or multi-family dwellings, and others which have been built on relatively small lots. Accordingly, the use of land and buildings within these areas is limited in general to dwellings at a density of around ten dwelling units per acre, and to such nonresidential uses as generally support and harmonize with a medium-high residential density.

Goals are to quit my 80+ hour a week job and make passive income so I can spend time with family while supporting them.

No I defiantly understand. And I can buy a duplex for that much and it would probably cost me 180k to build one. I need to go onto the county website will that tell me the regulations? Also general question will there be a point in the market where new construction would be cheaper?

It’s residential zoning. My duplex is right next door there are other duplex and triplexes in the area. It’s inside city limits.

Market is Spartanburg South Carolina

Thanks Aron that’s really good advice. I have been floating through this without a paddle. Saving money for capital expenses.

Hi everyone! I am seeking advice on what to do with the empty lot I was gifted when investing in my first house hack duplex. I have owned the property since 2015 and it has been a great cash flow. We are closing on another property this week and I keep thinking in the back of my head. Buy more properties? Or build a multi family on that lot. Currently my portfolio consists of the duplex, the single family home w/ guest house we are closing on Friday, and our primary residence which is a SF 3/2. We like the buy and hold and think we are in a pretty good market. I am working a full time job and raising a family. Looking to reach financial freedom and wondering how to hit a home run with that empty lot. Thanks!

Hi everyone, My wife and I are embarking on this real estate investment plan. We want to make sure we are going about it the right way. Right now we live in a single family fixer upper. We moved here a year ago from our first home which was a duplex. It rents for 1500 total with a mortgage at 550. We are looking to invest more and build our portfolio but want to make sure we have a solid foundation. We were thinking about refinancing our duplex because we did a lot of work and think it’s worth a lot more today than it was when we first bought it. My wife and I go back and forth about extending the mortgage vs paying it off. We don’t know what our most import next step is. Can anyone offer some tips? Thanks you are all awesome I’ve already learned so much.

Hi everyone, My wife and I are embarking on this real estate investment plan. We want to make sure we are going about it the right way. Right now we live in a single family fixer upper. We moved here a year ago from our first home which was a duplex. It rents for 1500 total with a mortgage at 550. We are looking to invest more and build our portfolio but want to make sure we have a solid foundation. We were thinking about refinancing our duplex because we did a lot of work and think it’s worth a lot more today than it was when we first bought it. My wife and I go back and forth about extending the mortgage vs paying it off. We don’t know what our most import next step is. Can anyone offer some tips? Thanks you are all awesome I’ve already learned so much.

Hi everyone, My wife and I are embarking on this real estate investment plan. We want to make sure we are going about it the right way. Right now we live in a single family fixer upper. We moved here a year ago from our first home which was a duplex. It rents for 1500 total with a mortgage at 550. We are closing on a property in a few weeks that has needs cosmetic work and has tenants in place (rents 1350 mortgage 500). Our goal is to build our portfolio so we can do this full time. We just want to make sure we have a solid foundation. We were thinking about refinancing our duplex because we did a lot of work and think it’s worth a lot more today than it was when we first bought it. My wife and I go back and forth about extending the mortgage vs paying it off. We don’t know what our most import next step is. Can anyone offer some tips? Thanks you are all awesome I’ve already learned so much.