I’m looking into starting some investments, and I have find a few potentials. The thing is that I can’t make up my mind. One is a lot of land that is sitting in a perfect spot for what I’m trying to accomplish, while the other opportunity is for a multi unit property. Im trying to make this into a rental investment either way.
Overall they both will cost me about the same to buy the land and build brand new units, while the other needs a lot of renovations. Both will be time consuming and costly, but I would like to know y’alls opinions and or feed back if you have been in this situation before and what you think is the better choice and why.
Thanks in advance for responding
Go with what is already there if it is in a good area, building something is a lot harder to finance and you have to deal with a lot more permits and regulations in a lot of places.