Affordable Duplexes to Rent and Exit

[Hiren Patani]

Hello, Looking to buy a land lot and build duplexes to Rent. Also looking to find right partners for the project. Project will be some where in Greater Houston, TX area. Can some one add or verify the below steps are correct and in the right order.

1) Land Acquisition - do due diligence

2) Feasibility study - topography, flood risk, architects, any thing else?

3) Planning & Design - site layout, local zoning and planning regulations

4) Approvals- local municipal corporation, building permits

5) Site preparation for construction

6) Infrastructure development

7) Construction - code compliance

8) Final Approval, Marketing and renting it out.

Please provide your feedback, experiences and comments.

Thanks!

[Ben Guttman]

Insurance should be a factor in the due diligence and feasibility study phases. Builders Risk for ground up construction is a different product, and there needs to be an understanding of who is covering what - you or the GC. Houston has a unique risk profile, currently working a client down there. Just something to consider.