Quote from @Scott Mac:
Quote from @Dustin Awtrey:
I’m building a subdivision of duplexes from scratch, just like the title says and I am documenting the entire process on my instagram @awtreyrealestate if anyone is interested in following or has any questions on how to get started I’m glad to help
Great!
Just some questions to get the discussion on this thread going a bit.
[1] Will you keep them or sell them?
[2] Are you doing the roads, sewers and electrical up to the property (or did you get the county to pay for that)?
[3] Do you have a target market for renters?
[4] Have you considered 4-plexes (same consumer FHA loans available for these as the duplex)?
[5] Are they all cookie cutters, or will there be different facades.
[6] How many buildings to you envision on that piece of land?
[7] Any architectural rendering pics to post?
[8] Have you thought about offering non-refundable discounts for 4 duplexes, if % is paid pre-build--to give you some cash wiggle room for over runs.
[9] Will you manage this out of an office, or just an onsite trailer.
[10] Will this be an A,B,C or D neighborhood once it's rented up (what's the area like 3 miles or so around it--it will probably have the same renters.)
[11] Is this Gentrification of a neighborhood?
[12] Will it be an underground electric sub-division (or poles)?
[12.5] HOA?
Good Luck!
great questions! I’ll answer them in the same order.
1- I will be keeping these as long term rentals
2- all the utilities and infrastructure I did and paid for myself. If you go to my instagram @awtreyrealestate there’s pictures of it all. Sewer main, water main, electric, internet, telephone, roads, etc.
3- All units are 3bed 2 bath, in a good school district. Targeting families with children to hopefully stay a long time
4- yes, my original plan was to build fourplexes and tried to rezone it for that, but after an expensive and lengthy process, the county ultimately decided against rezoning. And current zoning is for single family and two family.
5- all buildings and units are exactly the same. identical inside and outside
6- this development will have four buildings, 8 units.
7-
8- building duplexes and keeping them as long term rentals
9- I live right down the road, and any work I’m not doing myself I manage remotely or on site
10- I would say the area is A-/B+ Nice area, nice school district
11- these towne homes are in an older, but still nice neighborhood, I wouldn’t say it’s gentrification, but just a cherry on top of an already nice neighborhood
12- all utilities are underground, you can see in my IG feed, @awtreyrealestate, and I am the sole owner of all the lots and buildings so I basically am the HOA, responsible for streets and such
