Modular Duplex Development

[Pamela Swanigan]

Hi, my name Pam Swanigan from Niskayuna, NY, a new real estate investor with 1.5 deals under my belt.  My first deal was a wholesale to a contractor I had been working with to help me evaluate properties which I find by "driving for dollars". Currently,  I'm 2/3 thru completing a full rehab on my first flip which we intend to sell.  BTW, this first flip has been an excellent learning experience -- it was and estate sell, house had standing water in the basement for over seven years.  It's a 1950 Cape -  with strong bones and it's slowly coming back to life.  

1st Lesson Learned:  Don't choose a full rehab (gut) as your first flip.  Great learning experience though.

As a result of this rich learning experience, I have begun to explore the possibility of building duplex and triplex modular homes to hold and rent.  Do you know of any articles, books or webinars, etc... to learn more about this specific business model.  Also, please share any words of wisdom to avoid the challenges and benefit from the opportunities.

Thank you for sharing...

[Brian Rosher]

In our area building new is challenging for investment properties.  Building is expensive due to scarcity of suitable lots and construction costs, especially as compared to existing 2-4 family homes.  Many areas are not zoned for a 2-4 family as a primary use, either not allowed or requires a special use permit.  You'll need to start learning about zoning maps and town regulations in areas of interest.

Congrats on working through your flip!