So with another 100K in construction/fix up cost bringing the total to 500K it meets the 1% rule, obviously I would do more underwriting but I need to be solid on those comps. 

It’s more helpful to offer information rather than discourage someone from exploring their own path.FIFTH: I appreciate that you want to look out for others, but encouraging education rather than discouragement is more constructive.

Secondly, he again did not fully disclose everything and was pushing for the signature on the final closing documents, in them he has 2 seperate title agencies involved as well as a third party construction company listed as the policy holder for the insurance for the home, and the figures for sale are different from those on the sale agreement document that I did sign, with clauses included that state if the title is not free and clear that the buyer has the right to sue me for insurance purposes and to cover the silent second mortgage that I was only informed of because the title agency called me to say something was up after arranging the notary to come to me to sign the final documents (at which point I said no and had a copy of the closing documents emailed to me), and again the so called real estate agent negotiating the transaction is listed as the buyer (under the guise of being part of ushomebuyers.com, same as the agreement to sell). 

Brand new - under construction!!

I had to construct metal stairs to the third floor.

It lowers wages for us, construction wages have not gone up since 1960 likely due to illegal immigration.

After doing the last project that included extensive extension, I realized that New construction was something that I was to pursue.

I think this neighborhood would support that price on new construction at some point in the future.

Construction Manager & Investor, DeveloperHi BiggerPockets community!

I’m in the process of searching for land in the Houston area to then build a 4-plex on it.The plan is to self-fund the purchase & construction, rent the units and cash out with a mortage.I like the idea of serving lower income families and therefore don’t shy away from section 8.This is the first time I do something like this, so I’m throwing it out there in hopes of hearing your thoughts and learning from your experience!