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Updated about 1 year ago,

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12
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5
Votes

House Hack - FHA - With One Time Close / Design Online with Pricing???

Matthew McManus
Posted

I’m going to Build a new QuadPlex and House Hack.

What is a descent price range for a new build with purchase of the land, build, permits and all that included?

Can I base the pricing of the project from comparable recently Sold Homes that are New in the area?

I’m going to Build in the Finger Lake region. Preferably Conesus Lake area or Canandaigua Lake. 

This will also be a FHA with a one time close.

The plan is to hopefully get instant appreciation after the build, and then put a down payment on another property with a conventional loan. And then BRRRR from there.

And what do you think of this idea? I think new is my best bet…

Also what does a property usually cash flow after maintenance and all that? Let’s just say I rent each apartment for $1500 each. 

Please be specific if you can and break it down for me.


Thanks!

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