New Construction Builder can make the leap

[Merle Sauvola]

My wife and I have a long term goal to own apartment buildings. Specifically build to hold. Obviously, I know we need to start smaller.

I own a couple construction companies. 1 a commercial concrete contracting business, and 2 a general contracting business (99% focused on new home builds). This has created a problem for me when it comes into getting into rentals.

I cannot get myself to buy a rental. Every time I see one, I talk myself out of it by thinking or saying “I could build something better than that where everything is new (roof, HVAC, plumbing). BUT. I never end up doing it.

Every time I find a piece of property for development, I go into it with build to sell in mind. That company is growing fast and needs property in front of it to keep it fed. So I’m biting my real estate hold side of things.

Not to mention time. We’re very busy. Has anyone else ran into this? What are some thoughts?