Building New Residential Multi-Family in Chicago

[Matt B.]

Hello, my name is Matt.This is my first time posting on this site. I am new to real estate investing, I know more about the construction side. I see many people buying multi-family buildings for renting out. I was wondering has anyone bought land and built there own building on this website. I am going to be starting building a 3 Story 6 unit residential building in Chicago, I am just waiting on the permits.  I just wanted to introduce my self to the website and to see what other peoples think on building a residential building instead of buying one.

[Dorothy Wulf]

Clients love new. New roof, new windows, new mechanicals etc. Taxes are in arrears so they can purchase higher with lower taxes and qualify easier.  It's the zoning, waiting for permits and waiting for contractors to show up is why you see buyers flocking to existing builds. Either way you find it to be profitable I would do it.