Cant find what Im looking for! Build it instead?

[Colin M.]

Hi there!

Im looking to purchase a 4-5 plex in Orlando market, FL but these seem quite rare in finding and those that do exist are not properties i like (too much work to reno vrs the purchase price) or in not so great areas.

This would be my first RE purchase in FL.

Wondering would it make sense to buy land and hire a GC to just build from scratch?

Running numbers - to buy a 4plex is looking around $800k, and still needing upgrades, Out of state investor here so most likely doing 25% DP.

Any ideas what land cost, architectural, permits, construction costs combined, would come to?

I imagine its lower than having to pull a mortgage on $600,00 plus, with a brnad new build, surely to appraise for higher when complete?