First Multifamily investment - Should I just buy Land and pay to build a Fourplex?

[Jorge Armas]

Hello Team,

I'm a new investor and I would like to start my journey in Multifamily. I found a Duplex that I think I will have to build it from the ground up as you can see in the pictures. Is this something I should do as my first investment? I think I can get the permit to make it a Fourplex but not sure if this will be good as my first investment property. Any advice will be greatly appreciated.

Jorge A

[Trevor Richardson]

For a first time investment I would strongly recommend buying an existing building for renovation. Doing a fix and hold or flip is hard enough. Being a builder/developer is another level of difficulty. I have seen a lot of new investors get hung up on the complexity of pulling a property out of the ground.