Building Duplex From Ground Up

[Jay Patel]

Hi everyone,

I am currently getting started in real estate investing and I'm learning a lot from the webinars and from books like the BRRRR and Investing in Real Estate With No (and low) Money Down. I believe I have the basics down, however, I don't know how to apply them in my state

I would like to get started by purchasing land in Philadelphia and building it up from ground. I know this process requires a lot of work but I’m willing to put my all to get started. So far I realize if I want to build a home I need certain permits and an agent before I can proceed. My question is where can I find agents who can help me with the permits as well as architects, contractors, electricians, and mechanics to design a plan to build a new home on a land.

If anyone in Philly has ever bought land and built a new home on that land, can you provide a rough estimate of how much it would cost including the different permits and construction.

Greatly appreciate everyone’s help!

[Simon W.]

You need an agent to find you the lot. Agents will not pull permits. You will have all the vendors pull the permits for you. If you are just starting out, not sure if building from the ground-up is a good start. You most likely need to pay the land in cash. Construction loan you will need 25% of the cost. You will have to present a hardcost and a softcost budget to the lender to see if even make sense. You will probably need to hire a procurement to help you out as well.