Newbie here. I've been looking into buying a MFH to house hack within the next year. But one thing I haven't heard many people discuss is the idea of building a new duplex, triplex, or quadplex. With the current MFH prices I am seeing in the Boston area, south shore to be exact, I think it could make sense. What I am looking for is for some of you experienced folks to poke holes in my idea so I can determine if this is plausible.
For financing I would be looking at using a VA loan.
Thanks in advance to all!
That market is certainly hot on the south shore right now. While I can't speak to investment strategy or ROI, I can speak to the construction market. We are General Contractors over in Attleboro, Ma. With the age old theory of supply and demand, building in the Boston/SS area right now is expensive and timelines are going way out. It would be smart to try and secure a good GC, and see if they can incorporate subcontractors from outside the city limits to bid on your project. We're seeing pricing vary drastically even just going 20 miles south of the city just because everyone is so "fat and happy" with work. We perform mainly commercial work, but this trend flows right through MFH residential work as well. When you're ready, I'd be happy to talk in greater detail if you'd like.
Thanks @Sean Lamontagne . I just PM'd you.
another option for 2 family duplex is working with a prefab company. they go up fast and you can often buy in to do some or all the finish work depending on timeline and skills. Or you can do turnkey.