Hi @Shawn McCormick thank you for your kind response above.
The original plan was to try and purchase a few multi-family units, however as you rightly note there is a shortage and only really come up now and again but are usually overpriced.
Noted on the costs being $140 s/ft and up, particularly as we have seen the cost of materials increase over the past year. I guess with building, economies of scale really do play a big part. Building one multi-family unit may not bring as much profit as you would hope given the amount of time spent working on it, but building multiple alongside each other could perhaps see better returns.
I have a few investors myself who are stateside who are looking at our next project, we have discussed purchasing a reasonable amount of land in FL, having it zoned for residential/multi-family homes. Whilst building costs are high have the land prepped and split into parcels and have the relevant utilities dug in to the properties and then when we see prices for building come back down (or even if the numbers work) begin to build on the lots. A mixture of Multi-family and SFH.
Whilst we all love luxury housing, we are ideally aiming to keep things affordable as our way to give back to the community and those in need, making profit on top is just the added bonus. We have a call scheduled for this week to go over our plans and next steps, it would be good to stay in touch particularly around the capital and local expertise.
Florida being quite large, where do we purchase the land. Do we look at Jacksonville, Orlando or near Tampa. Or head south towards Miami. Although central Florida also needs some love. There is definitely a lot to think about.
Thank you!
