Originally posted by @Kris Reeves:
@Audrey Ezeh Thank you so much for chiming in! I had listened to that podcast episode when it came out over a year ago, but honestly had forgotten all about it! I went back and re-listened to it yesterday. Cameron is actually about 5 hours away from me! I am going to reach out to him and hopefully gain from his experience. So thanks for that, and for directing me to Scott's thread!
@Scott Choppin I really appreciate your detailed response to my post. These are all great considerations, and you have given me exactly what I was looking for in my request. I will be leaning on my local contacts and friends who are in development as I dive further into researching this. I may take you up on a conversation in the near future, and I appreciate the offer.
To answer your first question, there are existing homes in my region that I can rehab and put into my portfolio. The competition is high, therefore there are fewer and fewer to choose from, and the prices are being driven up. So there are two things have driven me to consider the build-to-rent approach: what I just mentioned about supply, and the portfolios for sale that I began this thread with. I am 39 years old, and the thought of having brand new rentals sounds attractive when I consider holding my portfolio forever. This will be our business, and we will treat it like one. So when I build them, I will know them inside and out from the first night of rental.
Again, thank you both for chiming in!
You are very welcome! (just noticed I didn't actually include the link to Scott's thread but I am glad he picked up on it). Wouldn't it be amazing if you and Cameron link up? Man I hope that works out for you!!
Like other's have said, I am shying away from SFR builds. I am making all my plans towards MFR. With the existing properties I buy, I am particularly attracted to duplexes, 4plexes etc on a large lot than I can eventually build on. As a matter of fact, I will be closing on 2 such duplexes in 2 weeks. So even if you are not ready to build, you can source great deals with the right lot size, zoning etc for what you want to do.
Like you, I want to hold these things and pass them on to my kids so the newer the better but it all has to make $$ sense!
Best of luck to you and keep us posted :)
