Building Duplexes, Triplexes, and Quads

[David Crews]

I have identified many empty lots in a transitional area just outside a major metropolitan city. I am curious if it would be a good strategy to buy these lots and build duplexes or greater to hold and rent? What would be the best financial strategy, ie construction loan/hard money? I've never attempted a new build before, so any helpful information would be appreciated.

[Will Gaston]

@David Crews I just completed my first duplex build in May 2020. Infill lot in a A neighborhood for student rentals. All in cost of 527k (135k lot/392k construction). Value is ~775k.

Used a great/expensive builder and hired a designer to make all of the choices on finishes. Very little on my end. My favorite part was there were zero surprises because it was new construction. Probably my favorite deal I've ever done. 

If you can make the numbers work in your market, I'd highly encourage you to build small MFH.