All Forum Posts by: Jon Klaus

I agree with Jay, you should get some professional advice on the 1031 exchange plan.   The safe thing to do would be to rent it after you build it to prove that your intent was to hold   Then sell in the future.  Maybe not ideal for your goals, but you don't want the 1031X disallowed after the fact. 

I'd check with @Bill Exeter

"give them a good enough fee to make it worth their while.. make sure you get an experienced GC"

@Jay Hinrichs What would you pay the GC? A percentage of build cost?

What price did the contractor give you? How many square feet? What do new homes there sell for per square feet 

There is not one place to get the answers for building out in the county. Are you dong septic? You'll need a permit with the county health department, but the installer can handle that. Talk to water company. A Co-op? Electric. Oncor? Or Co-op? What kind of road? TX-DOT can tell you about driveway entrance, culvert, and setback.

Getting a soil test?  If it's your first build, I recommend engineer stamped foundation and framing plans, licensed mechanical, electrical, and plumbing.  There's no city to require inspections along the way, so your own third party inspector is good idea.

If you don't want to mess with all this personally, get a GC with strong references.

Some people say that you should not include your own home because if you sell it you need to replace it because you still need a place to live.   However, it's an asset that could have substantial equity.  

Very nice, Bryan.  I'm a little over half way done construction on a similar Austin project.  1850 SF, 1900 SF, and 850 SF SFRs  on what was a single lot that we split.  

Is your mearket still rising?  Any signs of softness?