All Forum Posts by: Jacob Waugh

I would like to research building new multifamily in smaller towns around Des Moines Iowa. I work for a general contractor that builds post frame buildings. I can generate rough quotes for turn key projects pretty quickly. Where I fall short is the development side of things. 

Does anyone have recommendations for resources, literature, videos, and the like for new construction multifamily properties? 

Wondering where you ended up in your research on this topic. I build post frame buildings for a living. Residential, commercial, ag, wedding venues.  My experience is building them, not necessarily designing and managing. I am wondering if It would make a good investment if I were able to build it myself. A duplex triplex or quadplex. 

It is not an fha loan. It is a conventional loan from a Credit Union. 

I am going to check with the loan officer to see if there is a minimum waiting period. 

I guess I didn't realize it was a deductible expense. I need to do further research regarding taxes. 

I suppose I had only thought about a duplex or maybe 2 in 2021. I really hadn't given any thought to a 4 unit. It's definitely getting my wheels turning though! 

At the end of August I purchased an 1100sqft duplex. 1 bed 1 bath each side. $140,000 purchase price. 5% down. After credit for repairs it cost me 4k out of pocket. I inherited a tenant with a lease until July he pays $500 a month. Water isn't split so I pay that bill. 

Mortgage, insurance, taxes, and pmi comes out to $1155 monthly. 

I am wondering if I should make a large payment of $22,880 in the next couple of months to reach 78% equity and get rid of pmi that is $158 monthly. 

I would like to purchase another duplex in August this year also, which may be feasible even after this large payment. 

I'm trying to get thoughts on this action, also guidance on how to analyze the action necessary. Thanks in advance for your response! 

I am also very interested in this idea. I actually build metal buildings for a living. Have been for 5 years now. Just found a piece of land in a small town close by. Trying to figure out the process for permits and financing. I