I live in an area where rentals are in high demand. I've been looking for a multi-family investment property to buy, but there is very little available and the market is high. There is a housing crisis based on existing housing and projected growth. But there are no new building projects for multi-family properties. I have begun discussions with a friend who is a builder about partnering to build a 4-plex. Has anyone had any experience doing this? Not sure how to form such a partnership or what it would look like, or if it is even advisable. Any ideas??
It's hard to make a strong return on a new build. As for building a partnership, you should consult an attorney with experience in real estate partnerships.