Build Vs Buy a Multifamily

[Upesh De Silva]

Hello Friends,

I'm currently in Carmel Indiana and planning to move to Richmond - VA in the middle of this year. Initially, I'm planning to rent and then buying a property. I'm interested in multi-family homes. But all the multi-family properties you can find around VA are really really old and expensive. Recently I watched a few videos where some people are building multifamily homes using a construction loan and renting.

I tried to find legal limitations in building a duplex in VA. But there are no clear-cut answers. Is it something possible in Richmond - VA?

Is it a good idea to build a duplex vs buying an old property with high maintenance cost?

Appreciate it if you can share your input.

Cheers,

#brrrr #duplex #multifamily #buying #building #renting #richmond #virginia