All Forum Posts by: Jeffrey McKee

What are your thoughts on required safety inspections from the city for residential rentals?  Any experience with this?  

Quote from @Robert Ellis:

Quote from @Jeffrey McKee:

We own a lot free and clear in Commerce, Texas. A college town in North Texas.  We already own a triplex in the same city and have had great success with it. 

We are in the early stages of planning to develop the lot to build a 4 plex. The property is zoned for apartment units so we are good on that.  The challenge is we are limited by lot size.  CIty code requires a minimum of 1500 sqft per unit and our lot is just over 6000 sqft. The main challenge is the city requires 2 off street parking spots per unit, but we are hoping to have a solution to that.

Please share what knowledge you have on what to look out for on the construction side when it comes to choosing a GC for the  building,

We already have an architect working on the plans. 

We are planning for two stories. Two units on the first floor and two on the second.  We are aiming for (4) 2 bed 1 bath units with an expected rental income of $1100 per unit. 

This is based on our experience with the current rental we have in which we can charge $825 for a 1 bedroom unit that is much older and without central HVAC.  

Any advise is welcome.  

 I'd have to look more for the zoning code in your municipality but it sounds like a zoning concern. normally there is either a rezoning process or use variance process to allow for the difficulties with the site. Both of these are common variances in our zoning code. We construct a stacked triplex in Columbus Ohio and our three most common variances are lot size, lot frontage, and parking reduction. almost every single one has those three and we have 8 or 9 approved so far since we started last year. I'd recommend sticking to triplex for building codes anything over three units in most cities or states is commercial building code. below is what we designed which is three stacked two beds. 

 Thanks for the feedback and suggestion about requesting a variance.  I know that other develpers have had to reach out to me in the past to get a varience on building set backs, ect.  I will keep that in mind if we get any pushback on our design and acceptance.  

How was your experience with selecting gc, timeline and construction process with lenders and gc and city?

We own a lot free and clear in Commerce, Texas. A college town in North Texas.  We already own a triplex in the same city and have had great success with it. 

We are in the early stages of planning to develop the lot to build a 4 plex. The property is zoned for apartment units so we are good on that.  The challenge is we are limited by lot size.  CIty code requires a minimum of 1500 sqft per unit and our lot is just over 6000 sqft. The main challenge is the city requires 2 off street parking spots per unit, but we are hoping to have a solution to that.

Please share what knowledge you have on what to look out for on the construction side when it comes to choosing a GC for the  building,

We already have an architect working on the plans. 

We are planning for two stories. Two units on the first floor and two on the second.  We are aiming for (4) 2 bed 1 bath units with an expected rental income of $1100 per unit. 

This is based on our experience with the current rental we have in which we can charge $825 for a 1 bedroom unit that is much older and without central HVAC.  

Any advise is welcome.  

Welcome to the BP forum, Lacey! All the best!

Hello John! Welcome to BiggerPockets and best of luck on your real estate investing journey!

Welcome, Maryanne! It's great to have you here in the BiggerPockets community. Investing for cash flow and appreciation in rental properties is a fantastic goal. You'll find a wealth of knowledge and support here to help you along your journey. Looking forward to hearing more about your experiences and learning together! Best of luck!

Welcome to BiggerPockets, Terresa!

Howdy Kimberly! Welcome to BiggerPockets! It's awesome to meet a fellow Texan and real estate enthusiast. Your hobbies sound fantastic! Horseback riding and jet skiing are perfect for blowing off steam after a busy day in real estate. And home improvement projects? I bet you're getting a lot of hands-on experience with those.

Feel free to ask any questions you have about investing or share your experiences as you start your journey. BiggerPockets is a goldmine for learning and networking, so you're in the right place. Looking forward to connecting more with you!

Welcome to BiggerPockets, James! Best of luck on your real estate investing journey!

Hey Levi, welcome to BiggerPockets! It's awesome to see your enthusiasm for real estate investing. It's great that you're balancing your passion for real estate with family time and outdoor adventures. That kind of balance is crucial, and it sounds like you've got a solid foundation for success.

Looking forward to hearing more about your journey and exchanging ideas here on BiggerPockets. Feel free to dive into the discussions and connect with fellow investors. Cheers to your next 20 years of real estate investing!