All Forum Posts by: Jaskanwal Preet Singh Chhabra

Hello, I am an investor focusing in coliving/padsplit model in the Austin metro area. Recently I have been hearing about multiple hosts in Texas that are getting citations for operating a coliving facility with occupancy greater than the permitted number of unrelated occupants. It all stems from an angry neighbor filing a complaint to city and calling the home a boarding house.  My understanding is the Padsplit’s member agreement model is to avoid such situations. I feel the padsplit model might not be that sustainable if it is that easy for the hosts to have legal troubles. I would love to hear some thoughts on this and what are the recommendations to make this a sustainable investment strategy. Thank you!

Made another post covering the question here and few other items: https://www.biggerpockets.com/forums/12/topics/1220253-permi...

Hello, I am an investor in Austin, Tx and currently focusing on a coliving/padsplit model. I am looking at a few 4 bed 2.5 bath no HOA properties in pflugerville that I would like to convert into to 8 bed 3 bath properties. I have a few questions and would love to hear your opinions. Also I would love to connect with hosts and investors in the Austin, TX area :)

1. What is the strategy to refinance the properties if the interest rates do go low moving forwards. My understanding is most of the hosts buy the property on a loan and then use their own capital to add rooms/bathrooms. How would the refinancing of the modified property work in the future?

2. I am planning to convert the living room in the property to bedrooms and want to use the garage as common space (have a pool table or a Foosball table, a couch etc). What are the permitting considerations to add more bedrooms and change the use of garage? No new square footage is added in converting the common living spaces to bedrooms. I commonly hear that permitting is not an issue unless I am touching plumbing or electrical but just to be safe and avoid any future liabilities, I am trying to understand it is even feasible to get the new rooms/garage permitted for their intended use.

3. Are there any insurance companies that people would recommend for this investment strategy that do operate in the Austin, TX area?

4. Any recommendations of contractors familiar with this business model will also be appreciated.

Also would love to hear about any other gotchas and things to keep in mind about this business model.

Hello, I am an investor in Austin, Tx. I am looking at a 4 bed 2.5 bath property in Pfugerville, TX that I am planning to rent out as a co-living space (rent by the room on Padsplit). I will be converting it into a 8 bed 3 bath property. However, in adding the bedrooms, no new sq.ft will be added. I will split a giant master room into two smaller rooms and will convert the living room to get the additional three rooms. I understand I will need to pull a permit to add shower area in the third bathroom but would a permit be required for the three additional rooms, especially given I will not be adding any new sq ft to the property? I am thinking more from the insurance and future liability stand point. If so, what will be the typical time and cost to pull the permit for such a project. Thank you!