My plan was BRRRR.

It’s very common in today’s environment that not only are deals too tight for an Agency exit today, but the value add business plan was delayed for any reason whether it was a change in management, slower lease up than anticipated, and now the property is trending positively each month towards Proforma numbers, but needs a bit more life, there are ways to get it done!

I am just curious if the plan is workable and if there is anything I miss or need to rethink about.I realize that I don't know much about property management company, if I am going to invest in Texas.

The proposed plan which got approved is to expand it from 1800 sf to 4235 sf, and initially I speculated that this may cost $300-350k to do and budgeted it accordingly.

I’m planning on purchasing my first rental this year here around Richmond, VA.

There is street access because it's a corner lot.This would be my first new contstruction....my plan is to sell my current home (family issues, forced to sell) and move into one of the units as a primary residence for a year or 2 before leasing it.Question is - What is the order of operation to start the project...   

I plan to invest here soon and wanted to share some information about the market, rental income, or even general talk of the area.

We're looking to begin financing, etc for a multi family that we plan to house hack. 

Remember to always approach real estate investing with a focus on the long-term, careful planning, and a goal of building a sustainable and profitable portfolio over time.Good luck!

By building new, we're able to gain a heck of a lot of sweat equity which we plan to refinance (get the *tax free* $$) to put towards our next project.