What is the best way to get into developments as BRRRR/Flip investor?

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What is the best way to get into developments as BRRRR/Flip investor?

Alfath AhmedBusiness Member
Real Estate Agent · Columbus, OH · Member since 2022 · 1k+ posts · 1k+ votes

I am wanting to get into the world of developing multifamily in my market here in Columbus. I am looking to learn. I have experience with ownership of rental units using the BRRRR/Value-add method and house-hacking. I have also sold close to 200+ transaction to investors in my market. The below are the parts i am working to figure out

- what type of permits would i need pull? 

- working with licensed general contractors to develop a plan to build and keep costs low 

- Hunting for land. How are developers finding land and find the best-use for it?

- raising private money from investors for the down payment 

My question is, would it be better to develop a 2-4 unit multi-family or go straight into building a 15-20 unit build raising capital and giving returns on the project. How would you evaluate what type of bed/bath count, sqft, and build quality you would do in a certain area. 

Is is worth it to re-sell or better to re-finance a project of that scope. Are you developers seeing build cost in the 150/sqft? How would you guys go about your first new build project? 

[email protected]614-802-5698
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  • Remington LymanBusiness Member
    Real Estate Agent · Columbus, OH · Member since 2017 · 6k+ posts · 7k+ votes
    8mo
    Quote from @Alfath Ahmed:

    I am wanting to get into the world of developing multifamily in my market here in Columbus. I am looking to learn. I have experience with ownership of rental units using the BRRRR/Value-add method and house-hacking. I have also sold close to 200+ transaction to investors in my market. The below are the parts i am working to figure out

    - what type of permits would i need pull? 

    - working with licensed general contractors to develop a plan to build and keep costs low 

    - Hunting for land. How are developers finding land and find the best-use for it?

    - raising private money from investors for the down payment 

    My question is, would it be better to develop a 2-4 unit multi-family or go straight into building a 15-20 unit build raising capital and giving returns on the project. How would you evaluate what type of bed/bath count, sqft, and build quality you would do in a certain area. 

    Is is worth it to re-sell or better to re-finance a project of that scope. Are you developers seeing build cost in the 150/sqft? How would you guys go about your first new build project? 


     2-4 units, or "the missing middle" is very difficult to develop without a lot of government subsidies. There was a program a few years ago through the affordable housing trust that allowed for projects like this to get built but they ran out of money quickly.

    [email protected]614-541-8475Podcast Guest on Show My Job Laid Me Off, So I Replaced My Salary with Rentals
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    • Alfath AhmedBusiness Member
      OP
      Real Estate Agent · Columbus, OH · Member since 2022 · 1k+ posts · 1k+ votes
      8mo
      Quote from @Remington Lyman:
      Quote from @Alfath Ahmed:

      I am wanting to get into the world of developing multifamily in my market here in Columbus. I am looking to learn. I have experience with ownership of rental units using the BRRRR/Value-add method and house-hacking. I have also sold close to 200+ transaction to investors in my market. The below are the parts i am working to figure out

      - what type of permits would i need pull? 

      - working with licensed general contractors to develop a plan to build and keep costs low 

      - Hunting for land. How are developers finding land and find the best-use for it?

      - raising private money from investors for the down payment 

      My question is, would it be better to develop a 2-4 unit multi-family or go straight into building a 15-20 unit build raising capital and giving returns on the project. How would you evaluate what type of bed/bath count, sqft, and build quality you would do in a certain area. 

      Is is worth it to re-sell or better to re-finance a project of that scope. Are you developers seeing build cost in the 150/sqft? How would you guys go about your first new build project? 


       2-4 units, or "the missing middle" is very difficult to develop without a lot of government subsidies. There was a program a few years ago through the affordable housing trust that allowed for projects like this to get built but they ran out of money quickly.


       I totally agree with that. When we had our meeting with some of the big developers here in Columbus, they mentioned that they are unable to do deal unless they have tax abatement or can utilize opportunity zone tax credits. 

      That makes me wonder, how much zoning laws come into play and the difference government grants and programs can make. 

      [email protected]614-802-5698
      ReafCo | Ahmed Group 533 Reviews
      WebsiteView Page
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