Building fourplex in Houston?

[Conrad Muller]

Hi!

I’m in the process of searching for land in the Houston area to then build a 4-plex on it.

The plan is to self-fund the purchase & construction, rent the units and cash out with a mortage.

I like the idea of serving lower income families and therefore don’t shy away from section 8.

This is the first time I do something like this, so I’m throwing it out there in hopes of hearing your thoughts and learning from your experience!

Coule of additinal questions:

1) do you have a responsible and reasonable contractor you would recommend?

2) is 80/sqf construction cost attainable?

[Greg Dickerson]

Originally posted by @Conrad Muller:

Hi!

I’m in the process of searching for land in the Houston area to then build a 4-plex on it.

The plan is to self-fund the purchase & construction, rent the units and cash out with a mortage.

I like the idea of serving lower income families and therefore don’t shy away from section 8.

This is the first time I do something like this, so I’m throwing it out there in hopes of hearing your thoughts and learning from your experience!

Coule of additinal questions:

1) do you have a responsible and reasonable contractor you would recommend?

2) is 80/sqf construction cost attainable?

 The costs sound a little low to me if you are talking turn key including permits, site work, utilities, plans, surveys etc. I have heard Texas and most areas would be closer to $100 when its all said and done.

You can find good contractors through realtors, HBA in your area, REI Facebook groups and meetups etc.

Make sure to check references of past and current clients, visit some jobs in process as you can tell a lot about a contractor by how the job site is kept up and organized. Also make sure they have proper license and insurance and name you as additional insured for liability. You will also want to get a builders risk policy as well.