All Forum Posts by: Aaron Claybourn

 Thank you for the kind words Brant! We thought the same thing with only one slab and one roof to build. It is still up in the air which route we will take but are leaning towards the fourplex. 

 Yes sir, my first deal I was/still looking at were fourplexes and one 29 unit multifamily deal in a neighboring town. The owner is trying to liquidate all of his multifamily to re-invest it into the downtown area. I am just having a difficult time raising the money due to me being inexperienced. When this opportunity presented itself with a partner that could build at cost I jumped at it. Hoping I can get a portfolio going. 

 We live in an unincoperated town so we have no zoning or from the city. I am checking into what the county would want to address when it comes to the septic system. I have a contact that does the water systems out here (we would be doing water wells). We can use one well per 25 persons and eventually add an above ground water tank to create a city type water system. 

And we ran the numbers on the 4 single family homes and we could build them for around 70 grand a piece. And two 900 square foot homes just sold here for 97k and 94k so I would at the least have 20 equity in each. We haven't run the numbers on the fourplex at the moment. I still have a ton of work to do on the finance side of things to get a harder overall cost but I think on a buy and hold situation we have some room for growth. Thank you so much for your response

Good evening Biggerpockets Forums, I just wanted to get on here to finally make myself, write my first post. I listen to the podcast daily upon many other real estate and self help podcasts. I guess you can say I've been stuck in analysis paralysis for the past year. Like many others I would love to scale into commercial real estate and apartment syndication but have to start somewhere. 

Like many have said to do, I started telling people what I wanted to do and where i wanted to be in 5 years and shortly after I've found my partner.  A very close friend of mine is a builder and he is getting to the age where he is tired of building everyone else these lavish homes and needs to get his retirement going. I would love your input on our first jump into real estate. 

He has a perfect piece of property on the edge of our small town to essentially start another block of town. We can build our fourplex and single family homes close to cost (besides digging and running the septic and electric). Its a small town but no rental property stays on the market for long. So there is definitely a demand for more. We are an hour west of Fort Worth, TX and everyone is pushing west. I plan on bringing the down payment, underwriting and tenant duties on my end (Plus sweat equity in the building process). At the beginning we talked about building 4 1100 square foot homes and scaling from there. But now I believe we will start with a fourplex, so I can live in one of them to get an FHA loan. The way the land is shaped we can build fourplexes in the back corner to build up some equity. Then build some nice single family home on a different, gated entrance. I have talked with my lender and plan on meeting with her in the next week or two. By myself I am pre-approved to build whatever as long as I come with the down payment. And we are hoping to get these properties started vertical at the first of the year. We have some infrastructure to put in first.

I would love some feedback from you everyone on the pro and the cons you see in our plan. I'm a newbie, trying to get started and any guidance would be greatly appreciated and I can't wait to get a dialogue going with everyone. I hope you guys have a great weekend and keep pushing forward! As a wise man once said "You can either drive through the fog or pull over and let everyone pass you by" lol

Thank Guys and Gals! 

Thanks for the share! Keep plugging away! It's an inspiration reading the heartaches you have already pushed through and overcome. Definitely looking forward to seeing what happens next in your journey!

Thank you for your post! I'm currently looking to find my first multifamily deal around the DFW Texas area. Hoping to make a post like this in 2 years! Congratulations on your achievement!