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All Forum Posts by: Erik Dofelmier

Erik Dofelmier has started 9 posts and replied 42 times.

Starting Out

Post: Buy or Build Duplex

Erik DofelmierPosted
  • Posts 42
  • Votes 17
Quote from @Account Closed:

Construction costs are very high right now, but if you underwrite the financials and it makes sense, you could build some serious equity! This is a long and complicated process though, and requires you having a great team in place.

The advantage of selling the land is all the time/labor/money saved, and you could go find a property ready to cashflow NOW. 


 Thank you. One thing that was suggested to me was to use the property I own free and clear as collateral instead. I asked a local lender and they also suggested I could use the Multifamily property I want to purchase as collateral. What are the potential pitfalls of going that route if any?  Thanks. 

0 Votes
Greenville, South Carolina
Starting Out

Post: Buy or Build Duplex

Erik DofelmierPosted
  • Posts 42
  • Votes 17

Looking for advice. We currently own about a 1/2 acre lot here in SC. Would it be better to build a duplex to rent out, or sell the land and hope to 1031 exchange if for a multi-family property if and when one comes available?  Thx. 

1 Vote
Greenville, South Carolina