
Building a triplex or quadplex good idea ?
The math so far is pointing that I could finish a quad for ~800k and easily net $4200/mo (rent on 3) then live in the last one.
I was wondering if anyone has anymore knowledge they can share on the matter. Its very odd that no one has really build anything bigger than a duplex in RTP since the 80s. Also if anyone knows any builders or general building rates in the area please let me know, google is failing me.
The other option is picking up student 4 bedroom apartments by the campus for 200k each and deal with 3-4 leases per apartment (Up to 8/year) trying to net 1400/mo. The profit for investment is good but I also wouldn't be able to live in a college dorm again haha.

Typically it makes more sense to buy an existing property than it is to build from scratch. Maybe even buying a fixer.
Keep in mind every area is different but this can be a year long process from start to finish. Plus how are you going to finance it? If you don't have experience, some lenders tend to push back on providing financing to those with inexperience.
If you are paying cash at $800,000, that's almost $2.7M in purchasing power with financing.
I would contact an architect to see what their experiences are and how much it truly costs and timeline.

I have a GC connection that is doing some infill build to rent development around the triangle. He may be a good connection for you. I have another GC that has been building himself Multi-Family for a while ... depending on the area he may entertain doing a project for someone else. Shoot me a text sometime and I can send you their info. 9195300355

I'm not too worried about financing or time-span. I could easily buy the property outright (or 50% down), sit on it for 8+ months doing permitting and everything else before breaking ground, while still building capital. I could also easily do a dual duplex (one at a time) if financing a quad is out of the question for the bank.
I'm comfortable with 800k if it's also a semi nice place to live. All of the fixers are gone. Going for 1m+ range will only get you a trailer park or a higher end duplex from what I've seen in the area.
Shot you a text Cory