Would a land purchase and new construction for rental purposes be more beneficial for sfh or multi family? I’m kinda at a crossroad between purchasing an existing home or just building what I want.. any advice??
There are investors that build to rent. Is it a good way to go for you? Well...that depends. IMO the next step to compile local data and crunch the numbers. What does construction cost in your area? Can you get contractors right now (almost impossible in some areas right now)? What would rents be? What would your return be? How does that compare with existing?
Following, as I am in the same boat. Looking to acquire a multiplex (2-4 units) but when I look at prices of existing places, I am drawn to new construction (plus the low maintenance aspect of not having to do any replacements for several years too).
Scarcity and competition for SFH repair/hold/rent got so tough, I built two SFH rentals last year and another this year. The only way I could make the #s work was to get my GC license and take that cost out of the equation.