Real estate management (build to rent)

[Joaquin Rubio]

What would you do?

I am looking forward to constructing 5 residential homes, where I have 3 lots in the Edinburg Texas area (RGV) and 2 in Dallas Texas.

Houses would be ranging from (250k-500k)

This is my first time in real estate, and I am looking for advice. (I do have cash on hand)

Should I build and sell, build and rent, or sell lot? (I’ve been holding them for 20 + years) is there any other options? They are all in gated communities.

As of now, my plan is to build and rent, but before hand, I would want to plan ahead of time and forecast how it would work out. Is there any good practices you could suggest?

Should I create a company (LLC) to facilitate the management of them? Would Bank of America give me 5 mortgages as a person? Or what financial products should I use? Is that posible? Any excel spread sheets that could help? Should I do the cookie cutter types of homes?

I would be very happy to read your comments!