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All Forum Posts by: Andrew Creel

Andrew Creel has started 1 posts and replied 2 times.

Multi-Family and Apartment Investing

Post: Duplex build vs buy

Andrew CreelPosted
  • Posts 2
  • Votes 0
Quote from @Paul Pratt:

@Andrew Creel I'd say time would be the bigger deciding factor. If it takes you a year plus to get permitting and build vs a renovation in a few months then in the course of a year you would potentially let 6 months or more cashflow slide. Totally up to you, but if the cost to build is similar, I'd just renovate and start your house hack sooner than later!

Paul, thank you for the response. Would the 6 month head start in rental payments outweigh the probable differed maintenance on an existing Duplex? 
0 Votes
Panama City, Florida
Multi-Family and Apartment Investing

Post: Duplex build vs buy

Andrew CreelPosted
  • Posts 2
  • Votes 0

Interested in different opinions on building vs buying in the current RE market?

I am looking at either purchasing an existing “value add” duplex vs finding a correctly zoned vacant lot to build on. In both circumstances I would occupy one side and rent out the other. From most of my research it seems existing duplexes are priced @ $240 a sqft. This seems to be about the market rate to purchase a lot and build new! Opportunity cost while the vertical construction is being complete does give existing an advantage, but can you make up for this quickly with higher rents from new construction? 

Please give all opinions and let me know the details I have not thought out completely. 

0 Votes
Panama City, Florida