New Construction

[Carlos C.]

I apologize in advance if this has been discussed before, but I searched and can't really find much on this tipoc. I'm new at all this, and this question just popped into my head :)

Is it a bad idea to find a LOT and build a duplex/triplex/4plex instead of trying to find a deal? 

I ask because here in Miami I can't seem to find much of that (as far as I've been able to search) and I was thinking of this option.

By the way, is it harder to get a loan for new construction? Is there such thing?

Thanks everyone!

[Graham Max]

A lot has to do with the zoning and the area like Brent said. I am currently building a new SFH in rural Northwest Indiana and I had to convince the planning commission that it actually was a good idea to build it. There is lots of time in planning and red tape if you are inside city limits even if it is a small city. Make sure you check all of that out and setup a timeline for that part of it.