Prefab Multi-Family Properties in Texas

[Sev Kamensky]

Does anyone on BP Texas forum have any experience building Prefab Multi-Family properties in Texas? If yes, is there a builder you would recommend?

 There are a number of well priced lots once you go a little outside the major metro areas (Austin, SA, Houston). I think it would be a good site for a duplex/fourplex property.

I've polled some local builders in the Austin area and they charge anywhere from $120-$180/sq.ft. Building a stick build 4000 sq.ft fourplex with these builders in not cost effective, so that's why i wanted to check if anyone has experience with prefab properties.

[Rob Harris]

Checked into financing on these by chance? Curious as to what you've found as well as pricing on pre-fab multis.....

Rob H. 

[Carrie Hiner]

There is an investor in Lockhart Texas that bought 10 acres and put 4 separate mobile homes on it.  They are each rented for $850-$1000.  I know his interest rate is high but he still manages decent cash flow.  

[Sev Kamensky]

@Rob Harris The financing would be based on a construction loan that gets converted to mortgage at the end of construction. I think Broadway bank and Regions bank in Austin offer these loans.

For me finding a cost effective builder is the current challenge.

[Sev Kamensky]

@Carrie Hiner Thanks for the reply.  Mobile homes is another way to go. They might be great in terms of cash flow, but don't appreciate as much as a good prefeb or stick built home.