First deal! Building a duplex on vacant lot

[Kiesha Curtis]

Investment Info:

Small multi-family (2-4 units) other investment.

Purchase price: $38,000

purchased a vacant lot, currently building a duplex, will ultimately sell or rent

What made you interested in investing in this type of deal?

Finding a decent flip or buy/hold was extremely competitive, so decided to build one!

How did you find this deal and how did you negotiate it?

Local MLS

How did you finance this deal?

Cash and construction loan

[Heather Wear]

this is awesome! i am looking to do the same. how did you determine the cost of construction prior to buying the lot to know if what you paid for the lot was a good price or that you'd have equity once its finished? i am looking at a lot thats zoned for MF they are asking 45k but i am nots sure if thats a good price or where to go from there. any insight would be greatly appreciated!