Updated over 7 years ago on . Most recent reply
Building an SFR rental on a lot I own
I have a .25 acre lot that I own free and clear just west of downtown SLC. Ideally I would try and maximize density but the city will only allow a SFR. I am curious how to go about building a cheap home on the lot to add to my portfolio and increase my monthly cash flow. I am mostly just looking for a bare bones cheap simple build or manufactured home.
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If the lot is worth something just sell it. to someone who wants to build there primary residence there, or find a developer to do new contruction and "flip" it. Everytime I have looked into new construction for rent, the numbers just don't make sense unless you have scale and high end. Thats why no one is constructing C class apartments the numbers just dont work at those kind of rent.
Take the money and run, or maybe start a garden???