All Forum Posts by: Rufus Peoples

My partner and I are preparing to close on 4 acres of land. We plan on building 4 quadruplexes with our primary target being section 8 tenants.  We recently learned about LIHTC and have been looking more into it. My outstanding question is, if the property gets this tax credit, how would we go about selling the credits to an investor, and should we expect that investment to replace our need to take out a loan from a bank?

A friend and I are planning to pool our money to buy cheap land and build multifamily units. After talking to one builder he mentioned that residential contractors couldn't build anything larger than a duplex. He said that if I wished to build anything larger I would have to find a commercial contractor that may charge more. The plan was to buy lots and build a 2 or 3 unit then refi out to do it again. I would like to know more about what I should be looking for in contractors and if it would just be simpler to start by only building duplexes or if what he said was even accurate.