Rental Property Investor · RVA · Member since 2016 · 5k+ posts · 4k+ votes
7y
Have you selected a market?
If so, what size multifamily are you looking to build? What are your construction costs per square foot or per unit, roughly?
When I've looked into developments (haven't done one yet) the only way the numbers penciled out was if we went for the highest rental demand areas and targeted the top of the market renters. Construction costs and timelines made high end the only way.
If you come to the same conclusion in your area, then the answer would be to go after higher rental demand areas, and try to build "on the line"