Group Up Construction Multifamily

[Isaiah Montoya]

Good afternoon Everyone,

In short does anyone have any good resources/books/etc regarding managing and planning a new construction build. I intend to hire everything out through a builder or GC. My timeframe is about 1-2 years more of saving before I buy. Any advice is more than welcomed.

A little about me, I am Active Duty and have used the VA Loan to househack my current residence. It is new construction, and I am extremely satisfied with how things have turned out. I will be moving stations in a few months and my plan is to continue to save up to use my VA Construction Loan to build a multi-unit property, in theory will be less costly than buying an already built property.

I understand this is a big undertaking, so I am taking the year to read up, save up, and have a good plan going into 2025. I believe that I can more than beat the 1% rule with a multiunit ground up construction in the possible cities I will live next. Thank you in advance.

[Robert Ellis]

Quote from @Isaiah Montoya:

Good afternoon Everyone,

In short does anyone have any good resources/books/etc regarding managing and planning a new construction build. I intend to hire everything out through a builder or GC. My timeframe is about 1-2 years more of saving before I buy. Any advice is more than welcomed.

A little about me, I am Active Duty and have used the VA Loan to househack my current residence. It is new construction, and I am extremely satisfied with how things have turned out. I will be moving stations in a few months and my plan is to continue to save up to use my VA Construction Loan to build a multi-unit property, in theory will be less costly than buying an already built property.

I understand this is a big undertaking, so I am taking the year to read up, save up, and have a good plan going into 2025. I believe that I can more than beat the 1% rule with a multiunit ground up construction in the possible cities I will live next. Thank you in advance.

 in columbus you can do a council variance application to get 3 units on a single urban lot. I've been trying to get someone to do it like a stacked 3 family. 700 square feet, 2 beds, 2 bath or 2 bed 1 bath depending on interest and budget. anything over 800 sq ft is too big and you'll lose money. our market sells suburban style three story walk up apartments at 100+ units at $155k per door stabilized. that means they build them for $113k a door with land if the next buyer has a 20% equity position which they may not but when I build I try to make sure equity is thought of when we build.