In this episode of Wealth In Real Estate Development, host Nick Smith discusses the age-old debate of building new vs. buying existing real estate as an investor. There is actually no right answer to this question. It depends on many factors.
Do you have any experience with new construction? Or do any of your partners have experience with new construction? How risk tolerant are you? Also, another big question is how many financial resources do you have at your disposal?
Unless you have new construction experience or you have a partner with that experience, it is probably not advised to start with building a new product. It is probably better to start with a few moderate rehabs. This will allow you to learn the basics of how a property's major components are constructed. But if new construction is the goal, don't lose sight of that!
If you are interested in discussing real estate development opportunities in the Northwest Indiana/ Chicagoland area or anywhere throughout the country, please feel free to reach out to host Nick Smith via email at nicholas.smith@cbrealty.com or by phone at (219) 805-2857.
In this episode of Wealth In Real Estate Development, host Nick Smith discusses the age-old debate of building new vs. buying existing real estate as an investor. There is actually no right answer to this question. It depends on many factors.
Do you have any experience with new construction? Or do any of your partners have experience with new construction? How risk tolerant are you? Also, another big question is how many financial resources do you have at your disposal?
Unless you have new construction experience or you have a partner with that experience, it is probably not advised to start with building a new product. It is probably better to start with a few moderate rehabs. This will allow you to learn the basics of how a property's major components are constructed. But if new construction is the goal, don't lose sight of that!
If you are interested in discussing real estate development opportunities in the Northwest Indiana/ Chicagoland area or anywhere throughout the country, please feel free to reach out to host Nick Smith via email at nicholas.smith@cbrealty.com or by phone at (219) 805-2857.