First Investment with Shipping Containers

[Zachary Beaulieu]

I am looking to buy a plot of land to place.  2 shipping containers each being unit. (I live in a state where this is accepted)
The ultimate goal is to rent it out by using short term/vacation rental(AirBnb), creating passive income, and have the ability of doing this again on another plot of land.  I have my own money and a immediate family member going to help with the loan as well as their own money. I have a blueprint as well that was paid for to be used as the plan for both units.

My questions are:

Can a form of the BRRRR method be used in this investment?
What kind of additional financing would be the best option for this investment?

Bank loan or an alternative loan?

Electric and Water first before putting down the containers?

Who else is needs to be essentially involved with the blueprints and the inside compared what I can do myself?

How long until I can look at another property in the future? 

Any other advice for this investment I will accept, please and thank you.

[Jay Hinrichs]

Originally posted by @Wayne Bolen:

Here's my $0.02. I'm by no means an expert, but have been around BP for a while and have done our first deal in 2018.

Can a form of the BRRRR method be used in this investment? - This seems to be more of a new construction rather than the typical BRRRR scenario. I supposed you could use hard money for the purchase/build phase, then refinance after it's all complete, but that could be expensive.

What kind of additional financing would be the best option for this investment? - This really depends on how much money you have and how much you need. 

Bank loan or an alternative loan? - Banks will always be less expensive than hard money, but they're much harder to qualify for.

Electric and Water first before putting down the containers? - I'd say yes, as typically the utilities will be ran underground and having the containers in place may make that more difficult.

Who else is needs to be essentially involved with the blueprints and the inside compared what I can do myself? - This really depends on your skillset, you local/county/state guidelines, and your finances. 

How long until I can look at another property in the future? Without more information, there's nothing keeping you from looking for a second property while working on the first. This assumes you have the needed capital/financing in place, credit, etc.

Any other advice for this investment I will accept, please and thank you. - More background information is needed. Where are you located? What is your experience? How much capital do you have available? Have you already spoken with banks/credit unions for financing and/or hard money lenders? Without more information, your questions are really open ended and difficult to answer. The more specifics you can provide, the better information you'll receive.

there is far more to this than just buying containers and putting in UTLS you have to get the containers themselves approved through the state for current building codes.. which is a HUGE project.  and finacing is tough.

check out relevent homes in Oregon city Oregon this is my aviation partners business he has been at it for 5 years now.. and is just now starting to actually make a profit.. these when they are done right cost MORE than stick built