So I live in the Lower southern region of Texas by the border (you've probably seen us on Border Wars).
Anyways...
I'm a newbie with no Investing experience, but highly educated in common sense! I also have a determination to get started in this business.
Lately for some reason the idea of building a 4-plex, holding it, and selling ASAP has been so appealing to me.
Now I have a close friend of mine who is an experienced real estate investor. His business is in the building of Single Family Homes and selling. He claims his "team" can build me a 4-plex for about $80k NOT including the land. My bank will approve me with a $40k personnel loan and a lender will provide me with $80k which I'll need 20% ($20k).
So here are my goals and issues.
Goals:
Build a new 4-plex for about $100k if possible (including land).Find 4 tenants and rent for $750 - $800Once the 4 tenants are obtained I would like to place the 4-plex on the market for at least $200k.Make $100k in profit and re-do but this time with the money I've profited. Issues:
Where do I start??!!!!
~any help would be greatly appreciated Thank You~
