All Forum Posts by: Michael H.

My plumber who is licensed will be replacing  the sewer lines and will also add in 2 more bathrooms. Our scope will be that, removing load bearing wall and adding walls to create a 2 new bathrooms. 

How detail should the plan be? Can I use a free floor plan app to make my drawings? 

I purchased a home in Dallas that I plan on remodeling. Can I pull my own building permit and sub out licensed electricians and plumbers? I read it’s possible if you homestead the property. However, I don’t live there so not sure if it can be considered homestead. 

Never pulled a permit. Can someone tell me what is the process? I believe you file a permit application with a plan. Once approved, then what? 

What is the turn around time these days to get building permit approved? 

I purchased my duplex for $507k in 2020 and rent 1 side 3br/2.5 bath for $2,700. Deals do pop up but you need to act fast. Next door duplex just sold for $600k but needs full renovation. 

@Matt Fooshee Can you share his contact info? 85% LTv and no pmi is great!

Hi all,

I purchased a duplex 8 months ago with 5% down primary resident conventional financing. Property is in Dallas. Purchase price was $500k. I rent one side and intend to rent my side when I move out. 

Today, I found out that next door is for sale which is also a full duplex for $600k. Unfortunately, I’m not able to put 25% down as investment property loan. 

What loan options do I have? Can I do the following

1. Can I buy as primary resident with 10% down?

2. Can I refinance my current home as investment property and then buy second home as primary residence? If so, will a lender process both at the same time? 

3. Any other creative options? 

The by laws has no language surrounding how many percent has to be owner-occupied. This amendment is the only thing that was added. 

When you say limitations of owning rental units in the development, do you mean limitation of a single owner or community as a whole? 

That is how I’m reading it too. I’m glad I’m not the only one who interpreted it that way. 

It’s only 32 units

I reached out to management before closing. They finally responded (post closing) and just quickly said it’s limited to 3 in the neighborhood. I don’t think she looked at the docs carefully. She just records these agreements but is not the decision maker or the board so she probably doesn’t know the intentions of the restriction.

Hey all. I made a big mistake purchasing a town home with rental restrictions. When I read the by laws, I did not see anything regarding rental restrictions. Only to find out there is an amendment to add this restriction. If you read it, it states that it adds restriction to the number of rentals one owner can have. It later talks about if an owner has more than 3 rentals, they can only sell to owner occupied buyers unless they own 3 or less rentals.the first sentence where it says “the maximum number of tenant properties allowed at any one time will be limited to 3”. Since this is a restriction for number of units an owner can have, I feel like they meant the maximum number of tenant properties an owner can operate. 

In my opinion, this restriction is for how many rentals an owner can have. Since I only have one rental, I’m able to rent it out. What are your thoughts?