New construction multi family

[Shane Albert]

Hey BP! I think you’re all going to have some great insight for me on this. I own a duplex right now on a double lot and the current buildings occupies about a little over a quarter of it. I would like to utilize the rest of the current lot and the second lot as much as possible as right now it’s just a mowing and tax expense. I am thinking about building at least a four unit on the double lot and possible another duplex on the lot that has my current duplex. What do I need to be thinking about when it comes to new construction and what is the best route for me to go here. I’ll add that the duplex is my only investment property, I am currently renovating one unit to be done at the end of the month, I have at least two private money investors awaiting me to find a deal. Thanks in advance!

[Dave Spooner]

Sounds like you acquired a great property / lot! If this is your first time doing a full new build or even a major rehab, I suggest a book called What Your Contractor Can't Tell You. It certainly doesn't have all the answers, but it gives you a great baseline.

I also suggest you reach out to the city if you haven't already. There are likely quite a few zoning issues you'll need to work around. Good luck!