General Question / Interest

[Ben Gradert]

Hello BP community, I am a real estate flipper / developer. I have normally been doing value add sqft to smaller homes to increase the sqft and the value. As a result I've need to get my GC license and have solid understanding of my cost to build sqft. I am in the process of building duplexes and selling them as turn key. I was curious if anyone in the group would be interested or know of people who would be interested in buying them. One of the benefits would be my property management company could also manage them for you. 

What the breakdown would look like:

Purchase price: 600K - 675K

Duplex: Each side 3/2 1,700 sqft 

Rent: 1,750- 2,200. 

Property management: 10% a month + first months rent. 

I'm not sure if this is a good idea or not so wanting to test the idea out with some people in this group! Thank you all for your advice and thoughts. 

[Derek Hand]

Depends where you are. Where I am in Iowa, I can build a 2bd, 1 bath duplex, ~1000 sqft, separate utilities etc. and have less than 200k into the build. Each unit renting out for $1200/month.