All Forum Posts by: Kyle Bouldin

@David Bohn That was my concern. I know I'm looking for a hard to find niche, it may be that I get a place for my wife and I, then develop on a completely different property. I'm not looking on anything super dense in terms of units for the MF. At least starting out, I'm thinking single story 3-6 units per building. But I know that finding the balance on the pro forma between the cost of the land/construction and the density of the development (which drives rents/income/cash flow) is always the challenge. Land closer in; usually more expensive, but easier to rent. Land further out; usually cheaper, but the more rural the harder to get tenants and rent up. 

@Josh Young We're looking at San Tan Valley and the Eastside of Queen Creek. We'd like to be within 5-20 minute drive to the junction of Ocotillo and Schnepf as my wife works at the vet clinic nearby. We've looked at a number of properties in the area, but what I'm still getting my bearings on is re-zoning. Most of what I've seen is zoned for general rural. Additionally, finding a property in the right place to balance both of our uses is key. We'd like to cater to the horse world. Either offering a unit or two as short-term rentals available with a space of horses to stay as well; a horse motel is the idea. 

@Jacob Sherman I see. My ideal world is to find a property with a house or mobile home to live in that I can also build a 2-plex to 4-plex on. Would that still be a primary residence? Is that consideration tied to the property or the house itself? Another scenario would be to get an empty lot, build a multi-family and live in a unit. I assume that would have to be considered primary residence, right? Would there be an above board way to build it as an investor in that scenario and still live in it as a primary if we paid rent like a normal tenant?

I'm looking to get into REI from the developer/contractor side. I'm from Houston with a background and experience in construction for over 10 years. I have a general contracting company in Texas that I'd like to get licensed in AZ. As Texas doesn't require licenses for GCs, I'm not sure how this will work as I don't have a license that could potentially transfer over. I've been working in the Phoenix area for the last two years in the data center world. I'd like to get into small multi-family new builds as a developer where I would serve as my own licensed GC. I'm looking to build my team out here and would love to connect with lenders, agents, architects, and other contractors. I have a basic floor plan I'm looking to build and adapt to the right lot (see attached images). I know it needs a few things (bathroom size) revised to make it code compliant, and I will need an architect to help navigate zoning (another thing we don't do in Houston :D), site plans, elevation aesthetics

 and local requirements. 

Currently, the ideal move for me would be to get an acre in Pinal County that I could put a house and is also zoned for MF. My wife breeds horses and needs room for 4 of them, so we need to be rural. The idea is to house hack in a rural area that I could develop down the road and transition from once the lot is fully built up. I've spent a lot of time on the pro forma as well, but a lot of the assumptions are based on the Houston market which I'm a lot more familiar with.

Does this seem like a viable plan? Is there anything I need to consider in pursuing this? Is there any feedback you would give? How hard is it to get financing as developer/GC?