Hi I am new to real-estate investing and I would like to ask you all for some advice . I live in Pensacola, FL and have a residential lot that is paid for on the west side of town near the Naval Air Station, which is a big Navy base and is the Home of the Blue Angels. I was thinking about building a 2 unit Duplex on my lot that I own, and renting both units out with the use of a property manager. I still have much to learn and some numbers to crunch to see if it could be profitable . In Pensacola there is some local builders that can build a 3 bedroom 2 bath X 2 brick Duplex @2100 sq. ft. for around $150K-$175K range on your lot, will just call it a even $200k after driveway, electrical hook up land clearing and few misc.. items. My question is before I get to deep , is there a reason I never hear about anybody building new Duplexes? I only hear about people buying used ones and rehabbing them, then renting them out. Please let me know your thoughts and Pros and Cons of building new verses buying a used Duplex. This would be my first Rental investment.
Thanks Gang!
Jamie Church
