I think some of y'all followed my flip thread in Timbergrove, so I thought it would be fun to document something a bit bigger this go around. Here we go!
The plan is to build a ~4,900 SF home in Garden Oaks (about 1/2 of a mile from where I live in Oak Forest) and sell it next summer. Address is 959 Althea Dr, Houston, Texas 77018. We currently have the old 1930s built home sitting on the lot waiting for Centerpoint to remove the gas lines so we can demo (they've been a bit slow...) We've submitted for "pre-permits" (WCR, PX, impact fees, etc.) and plans are with our engineers for them to do their thing, then off to the City of Houston. This was another syndication deal where investors pooled money with me to build this home all cash / no debt. Had some returning investors as well as some new faces join this one, and we are expecting about a 25% IRR with a one year turn around (more if we can build and seller faster). I'll update here from time to time when I have something worth updating!
Things I'm really excited about on this home:
Cheers,
Jamie
Front Elevation
Site Plan
First Floor
Second Floor
The plan is to build a ~4,900 SF home in Garden Oaks (about 1/2 of a mile from where I live in Oak Forest) and sell it next summer. Address is 959 Althea Dr, Houston, Texas 77018. We currently have the old 1930s built home sitting on the lot waiting for Centerpoint to remove the gas lines so we can demo (they've been a bit slow...) We've submitted for "pre-permits" (WCR, PX, impact fees, etc.) and plans are with our engineers for them to do their thing, then off to the City of Houston. This was another syndication deal where investors pooled money with me to build this home all cash / no debt. Had some returning investors as well as some new faces join this one, and we are expecting about a 25% IRR with a one year turn around (more if we can build and seller faster). I'll update here from time to time when I have something worth updating!
Things I'm really excited about on this home:
- Integrating the back patio with the kitchen with an awning window and passthrough countertop
- Prep kitchen that is about the same size as my current kitchen ha!
- Laundry rooms on first and second floors
- Media room (hopefully a good Ag buys this and makes this an Aggie Football room!)
- Dual studies or a study and a fitness room
- Garage large enough to park two Texas sized vehicles
- MASSIVE master closet
Cheers,
Jamie
Front Elevation
Site Plan
First Floor
Second Floor
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