Rental Property Investor · Las Cruces, NM · Member since 2019 · 28 posts · 2 votes
Hello,
We have been Building some Multifamily out west for few years mainly NM , Tx area 4plexes and 30 units or less/Type A complex and students housing/apartments near major universities 20k plus students.
I Would like to expand into Florida region somewhere near the major metro Areas ( Orlando, Tampa , Miami, Jacksonville), would like to get some feedback from other investors/ builder in the state and which area is worth looking into to build few 4 plexus to start and which city , I have notice there are few lots are still available for somewhat reasonable price still ( i think), what price per sqft the rent is going for in the area for new build ? building cost for single story 2 beds, 1bath ,2 or 1 car garage unit example our area ( between $100-$125 sqft /current lumber prices ) cost of building (not include land) of 4 plex, rent is about average of $1 per sqft/M
@Sam Askar a friend of mine work managing the builder for a big vacation complex. I think they are building 300to400 townhouse. All about 3000sqft.
Last time I spoke with him they were paying about $77/sqft. But they got a good deal as of the number and size of units. And they are using metal instead of lumber.
@Arthur Neves. Thank you for the Info , are those prices for today’s lumber prices ? Or are they using Block/ concrete? Which area of Jacksonville are they doing those developments?
Does anyone have experience with manufactured duplex new builds in the Florida market? Clearly they are built to 175 mph wind standards today, so that shouldn’t be a concern.
@Brent Reynolds. That sounds like a great idea , but have you looked into the financing part of it since they are manufactured , do the same rules as slab built homes supply or did they fall under different categories?