Self-build multi unit homes - does it make sense?

[Jasmine May]

Hello everyone! I am a newbie to Canadian markets. We are moving to halifax NS shortly and I'm looking for build a property portfolio there. We had a small portfolio here in UK, its all sold and I have about CAD 500k to start with. I'll be jumping full-time into real estate investing now. 

Has anyone done or considered buying land and building your own multi unit properties? It can be built to specification (minimum wasted space) and I could save on maintenance long term if the build is done to a good quality. So the plan is to buy land, build, rent it out and then finance it to release money. Repeat. 

If anyone has done this, please could you share your experiences?  

[Jason Dobbins]

For me the cost upfront are to high, as you said less maintenance which is nice but I think your time till you see cash flow is a longer road than buying something 15 years old.  Currently in my Market there is a 2 unit duplex built 15 years ago its priced about $60k below what build cost would be. I also think this depends on how many units your looking and the cost of land.  I am also not familiar with the building cost in Canada so it could be cheaper than in my market