All Forum Posts by: Blair West

 Thanks for the imput, Peter  

Good luck with your zoning issues ,   I would assume your persistence will pay off . $50 a ft  that certainly does work . I was also planning on attached garages , or depending on the location, drive into the basement is a possibility too. Would you as a landlord, have any reservations about parking under the building ? What percentage of  tenant income do you figure  is needed  to best  insure monthly payments ?

 Hello Peter , One can find any amount of books on how to build from the ground up on new self storage facilities. Yes,they cash flow a little better ,that is ,if you can fill them up . It appears with apartments ,occupancy is less of a risk  ,where it can take up to two years to fill your self storage facility to capacity . I see many  more quadruplexes  being  built than I do self storage facilities. I do see a lot of them as well . It just seems odd to me  with all this new construction it does not seem to be followed by anybody on this BP. I keep thinking maybe somehow I'm overlooking the obvious not looking in the right places . I am looking at several lots to purchase ,  trying to target the appreciation areas.  I can also build them very efficiently to help with utility costs. Maybe most importantly I can target the price range of the  specific tenants. For you to be in the 300 K range ,what are you figuring per square foot ? The best I can do is  $100 per square foot on roughly 4000 ft.²  1100  rents  on  400 K  cost  land between 50 and 100,000  with the potential to build 4.  I still cannot believe that building new is such an obscure concept on BP.

I am trying to build new quadruplexes from the ground up. It seems I would have to use a 30 year mortgage  to get them to cash flow .I  see newly built 4 Plexes going up everywhere. Why isn't there more information on building these? It would seem you can choose the best area for appreciation. Less  maintenance and repairs into the future, as well as  build to target your monthly  rent price . I'm looking to charge  $1100 per month  including utilities for a two bedroom two bath 1100 feet per unit . Another advantage is that new  units can be  built to be more efficient, utility friendly, if there is such a thing . 

 One can find any number of books on  building new self storage facilities ,of which I have read several. When traveling from state to state  I can see considerably more residential quadruplexes being  built than self storage  facilities . Why isn't there more information on this huge industry? After all, how could anyone buy a pre-existing residential apartment if someone  had not build them in the first place? I understand that there will be'most likely less cash flow, however, you can select the area that may appreciate more   ,less maintenance and repair,  you can target your intended audience right out of the gate .

I am looking for information on new construction of quads and cash flow.