All Forum Posts by: Chris Schorre

Given the discussion, I thought it might be useful to actually post the deed restrictions so you can see what they say. See second half of point #1 and point #2.  

@Rick Reeder @Will Genrich @Nina Hayden @Alex G. - Thanks so much for this excellent insight. I had not thought about the title issue so that's very valuable to know. I have lived in this neighborhood for 20 years and know most of the neighbors, but the next door neighbor is an 85 year old professional slumlord with a penchant for suing the City of Austin who often cite her for code violations. Frankly, I'm sitting on this project for a little while longer to see what comes from the next version of the LDC but you've given me many things to consider. Many thanks.

@Stephen Stokes the deed restrictions were put in place by the developer of the subdivision in 1950 and frankly would only be known to a savvy individual who was even aware they exist and had a reason to oppose the project. It's public record of course.

Hi everyone, I own a fairly large lot (12000sf) in Clarksville. It's zoned MF4 but due to deed restrictions it is limited to two dwellings. The house that currently sits on the lot was built in 1990 and we plan to tear it down. It is surrounded by a mix of SFH and multi family. My understanding in speaking with an attorney is that although the City of Austin does not enforce deed restrictions (these are from 1950), a pissed off neighbor could sue and would likely win as Texas courts generally uphold deed restrictions. Ideally, we would like to build four condos on this lot but obviously I do not want to drop $100K+ on architecture only to get sued part way into the project. This happened to a developer in Tarrytown. Thoughts?

Thank you Dmitriy, this is a helpful list.

Hi everyone: 

I own a few rental properties in ATX and GR area and am in the process of setting up a Solo 401k. I'd like to add new rental properties into an LLC inside the Solo 401k but wondering how financing works in this setup. Have any investors had experience doing this and can share how it works? Is this just typical non-recourse financing? Any advice appreciated.

Hi everyone:

I own a few rental properties in ATX and Michigan and am in the process of setting up a Solo 401k. I'd like to add new rental properties into an LLC inside the Solo 401k but wondering how financing works in this setup. Have any investors had experience doing this and can share how it works? Is this just typical non-recourse financing? Any advice appreciated.

Great update David, many thanks for sharing your insights. 

Thanks for this update Beau. Very helpful!

The new Atlas 14 flood maps make one important change that you might want to consider: an inability to add additional structures to the site. I was considering buying a 13,000sf lot with a house on it in 78721 and went to speak with Development Services. They said, and I later read, that the new flood plain change prohibit adding a second structure (and maybe even more impervious cover) to a site in the floodplain. So if you had planned to do a tear down or add an ADU, you would be out of luck. Just google Atlas 14 floodplain changes and you can read the summary.