Buying Lot first time

[Mak K.]

Planning to buy a lot in Houston Area. Its the first time so I do not know what I do not know :). Here are few things and see what you guys think. Would love some brainstorming

1> Plan: Buy and develop something in next 2 years. May be a duplex and rent it out or Multi 4 unit to rent if permitted. It is residential zoned

2> No HOA

3> There is a creek behind. The area flooded and it is in flood zone. Neighbor has house on stills. Other houses are either on still or higher elevation (New homes). Last time it flooded 8' during hurricane.

4> Based on survey if I understand it correct is 79' front facing and depth 250ft. Total of 32k SF. Is front facing 79' good opening or narrow?

5> The cons are its in flood zone. Current elev is 15ft. Maybe I will have to raise approx 8-10' ft I do not know how easy is it to fill the soil and its impact on new construction layout etc.

I would like to get some insights from members based on their experience.

Is this just a NO NO. Please help me with the thinking process

[Canesha Edwards]

@Mak K.

Hey Mak-

Good thought, but there’s still a lot of ground work that needs to be done.

Just because the property is zoned residential doesn’t always mean a duplex or other types can be built. call the city planning & zoning office to see what your options are. Make sure to ask them about property set backs, if there are any special requirements because the property is in a flood zone, application process, etc. The number one question to ask is if the lot is buildable, especially with the creek.

Being that it is in a flood zone, insurance is going to be high. This is a cost you have to consider whether you plan to rent the property or sell it.

I would call around to a few excavation companies to get a general idea of price of adding dirt and increasing elevation.

You didn't mention anything any ARV once the property is built. You need to know you're end numbers to figure out if this is a deal or not.

Best,

Canesha