All Forum Posts by: Forrest Holt

@Nicholas Miller talked to some people and it’s averaging 120-150. I’ve seen really nice designs but I’m looking for more conservative builds. Finding a good deal on land seems to be the most important aspect

@Michael P. Thanks. Glad to see people are actually building them. I’ll check them out this evening.

@Jim Hiler Thanks I’ll check that out tonight. I’ve been driving for dollars and see a new multifamily every now and again. Somebody is out here doing it.

I’m wondering if anyone on here is building small multifamily? 

My hometown outside of Houston has been growing for the past ten years and is going to grow even more when a major highway is complete. There are 3 small apartment complexes here but very few other multifamily renting options. 

Can anyone’s help with the average cost per square foot to build a four plex?

Is this a horrible idea?

Anything is possible I think it just depends on how bad you want it and how much you’re willing to sacrifice to achieve your goals.

I would try grabbing a duplex and house hack. You could live for free which would allow you to save and then either refi on the loan or possibly 1031 on the property after a while. I’m not 100% clear on 1031 regulations but that’s just an idea. Nothing wrong with scaling especially at a young age and having a deal will give you credibility in multifamily.

You’re gonna have to network and come up with some creative financing if you have no funds. Good luck @Lewis Jerico

Thank you @Todd Dexheimer @Von S. and @Juan Vargas I'll filter through these suggestions this evening and do some research.

I'm all for networking and working with realtors. I'm attending local meet ups and networking on social media. I've never closed a real estate deal before and from what I understand that's key if you want a realtor to throw you a good deal. I'm willing to drive and knock if that means I can land my first deal. All that said I would be happy to connect with you and learn anything possible. @Fred Heller

Thanks @Satha Palani I actually saw this website but wasn’t sure how reliable all the data was. I look back into it and research some of those data points.

I'm attempting to narrow my criteria for multifamily properties here in Houston and having trouble filtering through websites for demographic information. I've attempted a few different google searches but I can't tell if these sources are credible. I'm honestly a bit overwhelmed and uncertain of what information I should focus on. Can anyone assist with a credible source online/offline? What demographic information should I focus my attention? 

Lindahl will give you a step by guide to purchasing your first multifamily. However, I’m enjoying Murray’s book a bit more. You can pick up both for around $40. They’re worth there weight in gold. James English

BRRRR method seems to be a popular method if your financing your home. It would allow you to keep the house and use the equity for another down payment on a second home. @Dustin Danner