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Updated over 2 years ago,
Build to Buy- Adding a new build in addition to an existing house
Hi BP folks - My husband is a contractor/builder primarily works on rehabs and new house builds for others. We would like to shift more of his efforts to our own rental real estate. We currently doing a BRRR on a single family home on a 10 acre lot. The lot is approved for at least one if not 2 additional homes. My question... Is it better to take our money out of this BRRR and/or other capital to purchase other separate rental properties? Or can we consider using our equity or other capital to build a second single family house on the lot with plans to rent it out as well. Additionally - if we build should we separate the lot completely so they could be sold separately in the future? Our goal is long term buy and hold investing with at least some cash flow in the beginning to help transition his business from working for others to working for ourselves. Are there any books on this? I found BP podcast 168 from 2016. I'm not sure if this is still applicable in our current market but would love your feedback.
Thanks!!
Mary