Building vs Buying a Property
A realtor I've worked with mentioned in passing that he'd really like to get me involved in buying land and building multi-family units to rent out or sell and he would project manage and oversee everything.
I've purchased a few off-market duplex's so far and they're doing OK but it's been difficult to find any opportunities lately since the market is really hot. His advise was that the return on investment to buy land and build from scratch in a B-grade area would far outweigh what's out there currently.
This isn't really my area of expertise. I'm not entirely sure if in Kansas City this would be a good way to invest and if so what kind of budget someone would even need to build something and whether it's worth the time.
Any opinions welcome.