Things to consider before buying a lot

[Gaurav Mehta]

Hi,

I am looking to buy a vacant lot (around 3700 sq ft) in Oakland Area. It is zoned as Multi Family. Looking to buy with all cash (funding from myself and brother). Plan to build a duplex and rent it out.

Some questions to consider before buying a lot

1. What are somethings to consider before buying a lot. I know about checking for (zoning, floodzone etc.) but I am guessing there are a lot more things to consider.

2. Any idea of how much would it cost on average to construct a 1600 sq ft 2 unit house. Been reading about $150 /sqft. Not sure how accurate is that. Can someone help provide some ballpark numbers with any overruns that may happen.

3. Any idea on time frame to build the house (6 months, 12 months or more)

4. If anyone has an experience with a realtor who specializes in Lots, can you also please DM me their details

5. Any additional challenges that someone may face in buying a lot and then building a house to rent