All Forum Posts by: Javan Jackson

If you are new to real estate, this is a definite no. You are simplifying the process into a paragraph, but there are about a million ways this could go wrong. You need suitable land to build that is zoned for multi. You need a qualified and reliable builder (almost impossible for a new investor to find). You need a firm budget (you would be outsourcing too much of this to someone else.)

If you want to house hack, but a multi and do it, but make sure the numbers look good for when you leave because in most markets they won't look great while you are there unless you can get 3 or 4 units.

The reason I thought about building is because in the town I live in (which has a little under 30k people) nobody sells them you can’t find them on the market. But I have been thinking of maybe sending hand written letters directly to the owner to try to get one under contract.

0 Votes

Indianapolis, Indiana

Hello,

Just looking for advice on if this makes sense. I'm looking to buy an empty lot or old building that needs demolished to build a duplex or triplex to house hack. Based on the price per sqft a builder gave me a duplex would be $280k and Triplex $420K roughly. That doesn't include land cost which could be anywhere from 60K to 120K. Each unit should easily get $1300 in rent but keep in mind I would be living in one of the units.

With an FHA loan I would easily be able to buy the land cash and have the down payment. It would be easier to buy an existing duplex or triplex but nobody is willing to sell because they cash flow so well.

Any thoughts are appreciated.

Thanks,

1 Vote

Indianapolis, Indiana

All Forum Posts by: Javan Jackson

Javan Jackson has started 1 posts and replied 2 times.

Post: Does building a Duplex or Triplex to house hack make sense?

Post: Does building a Duplex or Triplex to house hack make sense?