First Quad-Plex New Construction Q&A "Help appreciated"

[Dan Chipps]

Good Day Bigger Pockets members. 

"My Investment Real-estate History " 

1. My first project was a single family home that I purchased FHA 5% down at $238k.

    1180sqft  3bed 1bath in Puyallup Washington.  

    I did full renovation my self in a 2 year turn around. Sold the property for $425k and walked away with $176k.

2. Next bought a owner occupied 3plex 0% down VA loan at $520k.

    3340sqft 3xunits with 3x car attached garage - 2 bed 1 bath per unit in Tacoma Washington.

    I renovated each unit my self and moved rent from $990 ---> $1,750 per unit once I moved out after 21 months. 

    I just finished renovating it to a Quad-plex adding a 1x bed 1x bath 1x car attached garage 640sqft 4th unit at $1,400.

    I still own this property and hold a 2.6% 30 year fixed. My cashflow on this property is $3,830 and my new appraisal value is $995,000 = Equity built in 2 years $497,000

Obviously I'm leaving a lot out and will answer any questions about these 2 projects and will be adding pictures from these projects too.

My new current project is a 0% down VA new construction owner occupied quad-plex build

This will be my first new construction.  I have found some ways that I can lower the cost and the build time and the full scope cost of this project too.

1. Modular pre build framing - Im having the 4plex walls and trusses prebuild and shipped to site to have the building constructed and craned in to place in to place in 1-2 days with riggers. 

2. I am a offerup & craigslist shopper for New in the box products that I know I will be using for the build.  I currently have enough Vynal flooring, Roofing shingles, appliances, electrical items for the whole 4plex build.  

3. Self perform -  Flooring, drywall, muddling, texturing, painting, molding, and general labor for the project.  I am currently accounting for supplying $84k worth of materials and labor for this project.

I will outline what I'm planning on cost -

land -  Needs to be 9800sqft lot or larger for a quad-plex  90k-125k

Quoted for Modular pre-built framing including architectural design, Engineering, blue prints, framing and trusses = 242k

Permitting - $12,750

Roofing - $9,800

Siding - $16,000

quarts tops kitchen & bathrooms - $9,400

Windows - $9,400

--------------I will continue to update prices as I get quotes. I'm still waiting on the receiving at least 3 quotes for all the rest of the build before I average out -------------

With my VA loan there is no funding fees so it will drop the price another $16,984 on the back end.

I'm calculating the build will total $765k-$780k high end.  The comps in my area for a new quadplex 820sqft 2xbed 1x bath per unit with a $1750rpm = $1.015m eval.

My monthly payment at a %5.1 rate is around $4,950 monthly (I'm using this rate for the end financing once I refinance out of a VA loan). Add in management and Cap X and I'm at $5,800 monthly (I do my own loan care)

Currently I'm looking at a $1100-1200 monthly cashflow with an sweat equity of 220-250k. 

My questions. 

1. First any advice on new builds would be greatly appreciated and I love constructive criticism.  

2. I'm looking for a software program that will help me with my cost Performa, and scheduling.   

3. Land prep. I have never prepped a virgin parcel of land for a build. Any help in this area would be greatly appreciated. 

I will be adding pictures later today from my previous renos.