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Garrett Wright
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Unique Approach to Multi-Family Construction: Seeking Guidance

Garrett Wright
Posted Jan 16 2024, 15:42

Hey BiggerPockets community!

I'm embarking on my first multi-family construction project in Washington County, Utah, and would greatly appreciate your expertise and insights. Here's a summary of key aspects:

1. Project Overview:

- Planning a multi-family construction project with a unique focus on Adobe construction for cost efficiency and sustainability.

2. Location-Specific Considerations:

- Based in Washington County, Utah, and seeking advice on local real estate trends, climate considerations, and networking opportunities.

3. Family Connections and Expertise:

- Fortunate to have relatives in the plumbing and electricity business, as well as a construction crew, contributing to cost-effective and efficient construction.

4. Co-Borrowing and Credit Situation:

- My girlfriend is co-borrowing with a credit score of 740, while I'm working on building credit over the past six months with responsible credit card use.

5. Financial Constraints and Small Down Payment:

- Exploring options for a small down payment due to limited savings.

6. Adobe Construction X Factor:

- Adobe construction expertise and cost-effective methods as the X factor in this project.

7. Post-Construction Goals:

- Planning to refinance after completion and use equity to fund future rental properties.

I'm seeking advice on the sequential steps in obtaining a construction loan, acquiring land, developing plans, and any insights on estimating appraisal values for finished Adobe homes.

Your experiences and guidance are invaluable as I navigate this exciting venture.

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