building small apartments

4 Replies

I'm looking into building small apartments, (12)  2-3 bed rooms.  I have the land, zoned for multi family, water hook up available . The demand is great in my area, I need some ADVISE from those of you who deal with small apartment rentals, any one who has built from the ground up.  Thanks JEFF

I have the same question. Looking forward to feedback.

I agree with @Joey Middlemiss  . I am looking forward to seeing what everyone contributes to this conversation.

I have a builder http://www.bblbuilders.com/ will take medium to large size project if you're interested.

I guess the trick there is what do the numbers work out as.

What kind of construction and land costs are your projecting per unit?

What kind of rents per unit?

Are you going to sell after they're built or are they going to become your own rentals?

I would be interested in seeing the numbers work.

I'm guessing that building only makes sense where rents are pricey.....
Ultimately, the material costs are going to run about the same. Its the land costs and possibly the labor costs that may differ across regions. But it would seem to me to be much better to be in a place where rents are high.

But I would be curious to know what everyone's strategy is. Build to keep and rent out? Build to sell? 

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