All Forum Posts by: Rakesh R.

Hi,

I am planning to construct a Duplex/Triplex/Four Plex in Charlotte, NC.

Can you guys recommend a good builder to approach?

Let me know if you have an existing deal that I can look at.

I am looking in and around Concord/Huntersville/Harrisburg/Ballantyne areas.

@Fred Heller

I am looking for good MF as I am planning to live in it atleast for a year and want to target quality tenant pool.

With my 8-6 job, it will be difficult for me to handle run down buildings or bad tenants on a regular basis.

@William Dampier

I just have Four plex in mind. Want to start small and don't have capital for such a big project anyways :)

We are currently renting and would have to buy a house anyways. This way, it would be beneficial. One thing I am little worried is the property taxes that takes a huge chunk out of the earnings.

I will have to talk to my CPA regarding that.

Hi Guys,

I have been looking to find an existing multifamily in Houston and most of them that I see are either low quality and very old structures or they are not in the areas where I am looking for.

I was looking for a good quality structure that was constructed after 1990 atleast and looking at neighbourhoods that have people with incomes in 70k-150k range.

Is it economical to construct one? I am expecting rents of about 1100$ per unit for 2 Bed 2 Bath(Four Plex).

How do I go about it? Are there construction companies that specialize in multi family?

Are floorplans available on BP?

Do I need to jump through lot of hoops(permissions) to construct?

Also, Houston as a whole is overpriced and waiting for a correction. Even one of the biggest fracking companies posted a loss for the first time and its stock price fell by more than 10% in last 10 days.  If this continues for 3 more months, lot of smaller companies would burn out.

Are construction companies aware of this and are they offering good deals? Or is it better to wait it out?

Thank you Guys.

@Paul Timmins

Thanks for the pointers. Really helpful.

Hey all,

This is Rakesh from Houston,Tx. Saw a post on city-data forums about BP and that is how I am here :)

I always had/have an inclination to enter into Real Estate business since I was a kid. But then, my love for computers lead me into IT field.
I am now pretty comfortable with my 9-5 job and would like to pursue my interest in Real Estate as well.

My short term goal is to buy a Multi family unit this year and to be my own boss in 5 years

I am currently looking for Multi-Family preferrably a fourplex for house hacking in South east area of Houston.
Like Clear Lake , Webster, Friendswood, Pearland etc

Thanks for your time and I am really excited to be here !!!