I have a house which i intend to mortgage to buy #1:a 4plex & rent it out OR
#2 a land and build a new 4plex and rent it up.
Iam new to real estate investment and not too sure what to do....
2007-09-24 19:04:11 · 4 answers · asked by fox8 1 in Business & Finance ➔ Renting & Real Estate
honestly i think you should buy the land and build a 4plex, if you get a good peice of property and build something new you can rent it out for more.. if you decide to buy 4 plex then you have to renovate it and fix it up and may end up spending the same amount of money.. both your options are good and congrats on investing ! i would do the land though.. found some good information about buying a home.. hope it helps! good luck
http://www.beachcitiesrealestateonline.com/
http://www.beachcitiesrealestateonline.com/PageManager/Default.aspx/PageID=2039552
2007-09-24 19:09:51 · answer #1 · answered by Pure Genius 3 · 0⤊ 1⤋
In most areas I have lived it would be much easier and cheaper to do #1.
The zoning for the 4plex is obviously done. It is built, it has a history. Prices for existing homes are generally lower.
The other answers are right, it all depends and it depends on too many things for us to give you a clear answer, but #1 is MUCH easier.
Good luck!
2007-09-25 09:59:52 · answer #2 · answered by Rush is a band 7 · 0⤊ 0⤋
location location location
It all depends on where the land or the existing 4 plex is and the rent you can charge (and get) at each location compared to the investment costs. Real estate is often a complex equation (no pun intended).
2007-09-25 02:14:18 · answer #3 · answered by linkus86 7 · 0⤊ 0⤋
location.
I found this web site with VERY interesting advice and proposals. Good luck! http://real-estate-note-buyers.blogspot.com/2007/09/real-estate-note-buyers.html
2007-09-25 13:31:27 · answer #4 · answered by Anonymous · 0⤊ 0⤋