All Forum Posts by: Chidiebere Iwuoha Jr

This is super helpful. Thanks a ton will get on these steps asap.I think you may be right about the area might not being able to support new construction pricing that’s why it may have not sold already (land is already very limited here). 

Hey guys, I’m looking to help my family develop a piece of land we’ve had for sale for a couple years and hasn’t sold in Anchorage, Alaska. I’d like to out a triplex or a 4plex on it to keep as a rental long term. 

Land value is around 9,000sqft. Worth around $76,000.

We will have around a $250k heloc if needed, $100k in cash, and pretty much own the land outright ($76k in equity). I have a strong income and should be able to qualify for a construction loan as well.

Issues currently:

-The piece of land doesn’t have utilities (so we’d need to bring in utilities / put in well and septic).

-I don’t know much about new construction, only have experience with my own 4plex I got a couple years ago.

1. where should I start?

2. Are there other options I could consider? What would be the best investment move considering the assets we have available?

Thanks in advance!

Hey guys, I’m looking to help my family develop a piece of land we’ve had for sale for a couple years and hasn’t sold in Anchorage, Alaska. 

Land value is around 9,000sqft. Worth around $76,000. 

We will have around a $250k heloc if needed, $100k in cash, and pretty much own the land outright ($76k in equity). I have a strong income and should be able to qualify for a construction loan as well. 

Issues currently:

-The piece of land doesn’t have utilities (so we’d need to bring in utilities / put in well and septic).

-I don’t know much about new construction, only have experience with my own 4plex I got a couple years ago. 

1. where should I start?

2. Are there other options I could consider? What would be the best investment move considering the assets we have available?

Thanks in advance! 

Hey @Alina Trigub thank you for the reply! Will definitely get looking at that book. I've definitely been planning on some kinda house-hack with a 2-4 unit in mind, excited to start this journey.

I want to start off by thanking anyone who takes the time to read and/or reply to this thread! New to the community so I wanted to get something on here.

Some backstory. I just graduated college, still living at home, and have solid income from my video production company coming in. My parents aren't rushing me to get out, but I plan to move into a multifamily property within the next year to get my BRRRR game started.

I have good credit, and by next year will be able to qualify for a mortgage. I will also have a solid amount of capital to start off with. Enough for a 20% down payment and healthy reserve account if needed.

I'm super excited to start digging into the world of real estate and wanted to tap into the community for any words of advice, or resources/books that have helped you the most. 

Thanks for your time,

-Chidi