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Updated about 3 years ago, 11/18/2021
Seeking advice from builder-investors in Boston/MA
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!