Tips for Building Fourplexes as Primary Residences
I live in Charlotte, NC. There aren't many Fourplexes around here. Finding one in decent condition that isn't overpriced is practically impossible... So why not just build my own?
My general line of thinking is to...
A) Buy a lot large enough to build at least 3 or more Fourplexes on.
B) Build 1 Fourplex.
C) Refinance it as a primary residence and live in 1 of the 4 units for 12 months.
D) Subdivide the land and build Second Fourplex.
E) After first 12 months in Fourplex #1, Move into Fourplex #2 and refinance it as a primary residence.
F) Repeat B-E until the land can no longer be further subdivided.
Looking for advice, tips, and feedback on the feasibility of this strategy! Thanks!!