Build or Buy multifamily homes

[Aaron Duplex]

I own a duplex and the property is big enough to subdivide multiple times. In my area it's expensive to buy and very competitive to get multifamily homes. I have cash and I'm not in any rush. I've never been in this position of wealth before and know I'm at a crossroad in life that can continue to bless my family or be a hardship. If anyone has some suggestions I would greatly appreciate it.

[Mack Benson]

Another possibility might be to work with your municipality to subdivide the lot and sell the portioned off sections to a developer. Or you could partner with a developer after you subdivide the lot. It wouldn't net you as much but it would be far less of a headache. 

In my market, true duplexes haven't been built on mass since the 1920s and virtually none since the 1960s. This is because the cost to build is so much higher than the cost to buy. If your cost to buy prohibitively expensive I can only imagine that the cost to build is worse but it could be worth checking out.