At the end of the day; you need more money to do something like this.MAX LTV on new builds is 80% LTC, Meaning if the build is $550,000 and Land is XAdd ($550,000 + x ) * .8 = LOAN AMOUNTYou would need to come in with MINIMUM 20% of the cost in addition to closing costs and reserves, $80,000 is not going to cut it for this project.

Originally posted by @Ethan Cooke:@Nick Kraska - It really depends on how much you want to get involved in building a team/network, minor maintenance while you're there, etc.

Demoed the house, will be building a new house on site.

Building a trusted team is key, so starting that process as you actively search for your market will put you in a strong position moving forward.

Purchase price: $1,500,000 Cash invested: $35,000 4-Unit building in Wicker Park, Chicago. 3-unit front building with a duplex up and a back brick coach house.

A lot of buildings don't have a carrier willing to insure at all.

Go to BUILD YOUR TEAM at the top of the screen and look for local investors or meetups in your area.

On my new builds we hit the double cash on cash in certain markets sometimes its only 50%.

When the whole covid shutdown occurred, I dropped out of college to help my father's service business maintaining and remodeling residential and commercial buildings.

i found in my build projects that started just before and continued through the pandemic prices rose. everything but lumber became sticky IE they rose but did not fall..