Building a multifamily home vs multiple homes
Hello Everyone,
We are in the process of acquiring an old home that is currently on 4 lots (teardown). It is a smaller town that is in great need of rentals. Our plan is to have the lots re-plat into 4 separate lots and either building 4 small homes or 2 townhomes/duplexes.
We have a bit of experience with building a new home however building 4 separate homes would be a bit pricey and there are 4X as many things to go wrong! The townhome/duplex idea seems to be a better idea given the area however, we know nothing about building and valuing them.
If anyone could give us a little direction as to which would be more valuable and hopefully point us in the direction of a reputable builder or developer in the Dallas/Ft. Worth. I know I'm asking for a lot of information and I fully intend on pouring over these forums for some direction but I thought I would ask first. Thanks for the help, wish us luck!