New Construction for Buy & Hold

[Levi T.]

I had a random idea, and it's out of my expertise as an investor, so I'm hoping some experts can get me up to speed a little. I'm thinking about looking for a large peace land to building a few hundred townhouses, not to sell, but to rent them out and sell one day down the road. I think it will be huge where I'm looking to do this.

Problem is I'm not a GC. I'm an investor that looks at P&L's all day. I do get the process with finding the land, permits, shaping it, installing services and utilities, etc. Beyond that, if someone told me to break grown and start building a house, I would not know where to start other than finding some blueprints.

• Would it be better for me to go find a GC and get a set sqf price, or just build a company and hire people to manage the contractors. One or two experts salary vs paying a GC on top of subs.
• It will be in NOVA; Any idea on what my construction cost could run on a sqf?
• What other things do I need to be thinking about?

Thanks,

[David Beckett]

I don't know your intentions for title, but if you get individual titles(strata) from the start, when you come to sell,  each unit(town house) is worth much more (1.5 - 2.5) the value, than if you sell them all as a block!