Seeking advice from builder-investors in Boston/MA

[Brandon Rush]

Hey team,

I'm planning on building a 2 or 3 family on a lot I already own in Dorchester -I bought it along with my first duplex deal. I'm looking to connect with a Boston investor that has has built an investment property for their own portfolio that can give me the lay of the land before diving in and consult (with compensation, of course) during the process.

I'm comfortable with underwriting, buying, renovating and managing investments. But getting approval to build and managing ground-up construction is totally new to me.

A few questions that are top of mind to share where my head is at:

• What is the number one lesson that you learned that would have saved you the most time and money if you knew before you started?
• How do you effectively underwrite a build for an investment? Is it just like any other deal?
• I'll have a lot of people working on this project, what things can I do, as the investor/owner, to make sure that everything gets done on-time and on-budget?

Feel free to DM me if you'd like to connect 1:1 or just respond here. I'd love to hear y'alls thoughts!

[Scott Mac]

Hi Brandon,

Not from Boston but a Double Barrel layout is better than an over-under layout.

Less noise complements about footsteps overhead.

If you build a Duplex, at some point you will probably wish you had built a tri.

Bigger windows can make a smaller unit "Feel" bigger.

Consider if they will make you use a commercial garbage service or allow you to have just regular pick up.

Think about keeping the garbage area hidden (like they do at McDonbalds and etc...) it makes the property look nicer.

Look into how many parking spaces they will make you have and decide (is that the amount you want to offer--or would more for visitors be a good idea).

Look into fire requirement differences between duplex and tri--do they make you put in sprinklers, or fire escapes, etc...

Spend some time with your architect and think about utility meter placement so it looks apartment like vs homeowner like (this could be a positive point on a sale vs rents collected).

Consider having buried electrical service vs an overhead drop line if the neighborhood is up and coming.

Just my 2 cents.