All Forum Posts by: Chris Kersey

Welcome @Steeve Kurian

What kind of RE investing are you getting into?

I'm an agent, RE investor and developer in central Houston myself. I focus on long term appreciation plays. 

Hi @Julianna Couty,

Have you tried joining STR facebook groups to post your services?

@Manuel A.

This can be a great idea and very lucrative if done correctly, in the right locations and with caution/attention to timeline creep. I build duplexes ground up in central Houston for long term holds. 

The basic steps would be: 

1) Buy Land- (up front cost) make sure you can build what you want ahead of time by talking with an experienced engineer/architect familiar with local codes and regulations. Houston recently passed the livable places ordinance which has changed up the game a little. 

2) Plans/Permitting- ( all up front cost) Get with an experienced engineer/architect to drawe up your plans and submit to permitting. Then wait (2-3 month non-flood zone, 4-6 months flood zone) for approval. You will have to pay for surveys, plans, possibly a soil sample (elevation certificate if in flood). 

3) Build- Once plans are approved and your financing is lined up, you can start to build. 

4) Certificate of Occupancy- Complete the build and all inspections and sell. Most people pre-list the homes a couple weeks/month before its finished to get the word out. 

I am a RE agent, investor and developer in central Houston, feel free to reach out with further questions or if you need help finding land that works with your numbers. 

- Chris Kersey 

Hey Suzanne,

Welcome to BP! 

I started with a turnkey rental, then house hacked and bought BRRRR properties, now I build in central Houston for long term holds.

I'm an agent, RE investor and developer in central Houston so Feel free to reach out with any questions. 

-Chris

I'm following this thread now as well. I currently do ground up residential development but am interested in flex space as well. 

Also consider the HOA and the operating funds they have on hand. If a major repair is needed in the community and they can't fund it, they can call on the owners to pay for it.

Where are the funds coming from to build new? 

Anyone lending on a build is going to run a title search on the land and see the lien. 

Hey Amir, 

You are right, there isn't many resources out there that teach you how to do ground up development in Houston. It took me almost 2 years of talking with people and researching to push out our first project. I'm still learning everyday but now I Know enough to be dangerous. lol

What area are you looking to build in? The build to sell duplex market is some what saturated in certain areas of Houston causing a real problem for people using lenders to fund their projects. I like that you are open to renting the project out if selling doesn't pan out. 

Feel free to send me a private message with questions. I am a Realtor, RE investor and developer in central Houston (I build Duplexes).

-Chris Kersey 

Information if free these days. 

Action is the hard part. 

Hey @Mikal MAxim

I'm not a lender (i'm a realtor, investor and developer) but it sounds like with your situation, if you can qualify for a conventional cash out refinance, this will be best. DSCR loans typically have higher rates, pre-payment penalties, and may not let you pull as much money out as you would like because they will be based on 2 factors: the appraised value of the home and how well the rent coming in can cover the PITI payment each month (Principal , interest, tax, insurance).

I use DSCR loans on my development projects to pull our money back out on the back end. They are great because they are easy to get ( as long as the numbers work) and you can get as many as you want.

Feel free to reach out with any other questions. 

- Chris Kersey