Build-to-rent Multifamily in Florida or Georgia

[Ryan Alexander]

Hi BP,

I wanted to bounce around the idea of building-to-rent multifamily (maybe a 4plex, maybe 5-10 units).

My RE investing has to be pretty passive as I work 60 hours a week in tech (based in SF). To date, I've built 4 SFH's to rent (TN, ATL, JAX) and I'm happy with the returns but I want to move the needle on a larger scale soon.

I’m considering buying a residential lot in either Atlanta, Jacksonville, or Tampa. Then finding a builder and working directly with them to build a small mulitfam. I’d have property managers that I trust and could rely on to guide me through the process as I’m mostly going to be across the country.

There are turnkey companies out there that offer new construction 4 plexes, which I’m interested in. However, I would be of course receiving a bigger return going directly to builder and doing it myself.

I’d love insight into the debate of buying an older C building and adding value vs. just buying a lot and building new.

My experience so far with new construction has been great - more control, no repairs for many years and less headaches overall.

Thanks for your time.

Ryan