Should I consider building a small multifamily?

Question

Looking for small multifamily properties is difficult as demand is currently high. I am curious if it is a good time to increase supply through development of new construction. I notice that there are a lot of decent plots of land scattered throughout the city that were once part of farms and now are coming up for sale. Should I consider building a group of MFR (4 plexes) or continue searching for the right deal?

I am excited to hear your thoughts and thank you in advance for you contribution to the thread.

Justin Brown

I am excited to hear your thoughts and thank you in advance for you contribution to the thread.

Justin Brown

Sam Levin · Answer

@Justin Brown Yes the developer that's building the new triplexes and fourplexes in Utah County is FIG, Fourplex Investment Group.

Rob Bergeron · Answer

Talk to Jason Orthober, he just built a 72 unit. Might be able to give you some insight.

Jake S. · Answer

Hey @Justin Brown I've caught wind of 4 plexes and Tri plexes making a comeback. I know there is a group that builds them currently, but they are alot more updated in looks (kind of like a townhome look) rather than your typical box shape.I think the group is called FIG fourplex investment group

Lee Perry · Answer

@Robbie Eddington let me know when you guys get that coffee maybe I can join.  I am currently considering my next move to be leaving the single family arena and going to the multi.  Not sure if I am ready to go big or small just yet

Justin Brown · Answer

Thank you @Rob

That sounds good to me. I work near UofL, how about you?

Robbie Eddington · Answer

My name is Robbie Eddington,

I currently invest in Louisville and Sheperdsville area, and have been looking for land to build a couple 4 plexus. If you are interested I would love to grab a cuppa coffee with you. And maybe discuss some opportunities.

Ray Loveless · Answer

@Sam levin, give fig a call to hear about their current projects.  Last I heard they were doing projects in utah and Texas.

Justin Brown · Answer

Thank you everyone for the feedback. @sam levin, do you have anything available in Louisville, Ky?

Sandy Preston · Answer

I do not have advise except to talk with some realtors and property managers to see if the market suggest it would support the expense involved in a new construction.

Should I consider building a small multifamily?

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