Modular-To-Rent

[Evan Ventura]

I am new to REI and am attempting to explore all avenues to make my first deal. Realizing the scarcity (or at least my perceived scarcity) of ideal rental properties in the Jersey Shore/Central Jersey area, I thought, if I can not buy it - why not build it?

After rebuilding my own home after Hurricane Sandy using a modular company, I realized how (with luck and due diligence) cost affective, convenient, and custom these homes can be. 

My ideal criteria includes: 1,200 - 1,500 sqft, 3 bed, 2 bath, garage (contingent on elevation), and bullet proof.

I have seen some listings for somewhat odd and overgrown parcels of land selling low where the numbers might work quite well. Some of these properties are unusually shaped, heavily over grown, but not necessarily in horrible locations (on a busy road, in a dangerous neighborhood). Cleared out, would these characteristics necessarily ward off potential renters? Overall, does anyone have any experience with this type of undertaking? Cost of clearing a lot, etc?

I understand much of the red tape associated with new construction first hand from building my own home, but blame much of it on a very incompetent builder.

Thanks!