building or buying multi family units

[Lucio Palanca]

with today's environment, what is everybody's sentiment with regards to building projects or buying already made units?  I have met with at least 2 contractors in my area and they say that materials are very expensive now and they fluctuate quite frequently, which makes it difficult to make reasonable estimates on cost.  

[Terry Ouimet]

Hi Lucio, as for new builds... I had a couple of lots and went through the process of vetting builders, what I learned was to ask for solid estimates and line items right out of the gate, and make sure that they are accurate, do your homework and don't just take their word for it, they should be able to guarantee you pricing within about 10% of estimate..I believe, that risk should fall on them, not you. Moreover, make sure they actually have contractors /workers ready when they call, many of these builders have trouble finding workers and have a poor system in place which can cost you time and money. I was a bit "green"when I did this, I really could have used a mentor or somebody's guidance, best of luck