We’ve slowly been improving our homes the more we’ve built and the more feedback we get from our Buyers2021 – Added 8ft doors throughout the home2022 – Added a new elevation with stone in the front of the home2023 – NO carpet in the bedrooms, LVP throughout the home2024 – Added hurricane impact windows & new color options2025 – Adding Ceiling FansGotta be open to feedback and adjust accordinglyThis can be the difference of your home sitting on the market for 4 months vs 1 month

I have 2 rentals in SW FL- both have open insurance claims and a public adjuster is involved.My insurance policies renew April/May.

Also, you didnt mention any financing costs, was this built with cash or do you roll that into your cost of construction?

Mine was also out of state, in a town I’d never visited, and I relied heavily on videos from my agent.This sounds like a tough first deal, but it seems like you have some capital on the side, which will be useful as you face the upcoming challenges and learn from those expensive early mistakes.Regarding the subject of this post, “help me adjust my expectations,” I’d recommend assuming that; repairs will cost twice as much as you estimate, maintenance and vacancy rates will likely double from your initial projections, there’s a very real chance you may lose money on this deal.That said, there are ways to mitigate these risks by:- Keep asking questions here on BP and connecting with local experts- Stay proactive and communicative with your agent and property manager.And remember “Inspect what you expect.”Im not trying to discourage you but to help reset your expectations.

@Dhruv Patel I believe you are getting ahead of yourself....Where in the US are you all-in (land acquisition, soft costs, hard construction) on new construction multi-family for $100/ft.

Quote from @Steven Diaz: Hello,Was going to start construction on a two story 3bd 3.5ba 1500sqft primary home and a 2bd 2.5ba 800sqft ADU.  

Quote from @Sri Reddy: We are a team who are venturing in to constructing a multifamily unit from groundup.We don't have any prior experience in construction and are looking for financing loan options.

Hello @Hudson Filippi FHA does have a One Time Close construction loan that will allow you to build a home.

I have 2 empty lots that I want to build 2 rental properties on in Decatur, AL, but there is not a lot of new construction in the area.

Purchase price: $515,000 Cash invested: $960,000 Sale price: $1,850,000 New Construction development, What made you interested in investing in this type of deal?