Buy & Hold Primary; Land + Amazing Views + Cash Flow Oppurtunity

[Justin Rush]

Investment Info:

Single-family residence buy & hold investment in Enumclaw.

Purchase price: $1,150,000
Cash invested: $100,000

Current primary buy-and-hold primary residence. Rolled profits from Fix-and-Flip (Gig Harbor) to purchase new build on 5 acres. Property has a 4 Bedroom, 3.5 bath, and is 3,900 Sq Feet. Features vast mountain views from every window, and has second lot on top of mountain (flat 1 acre with 300 feet higher up the mountain with unobstructed views for 50+ miles).

https://www.redfin.com/WA/Enumclaw/37630-E-Lake-Walker-Dr-SE-98022/home/294806

Goals:
Short Term (2023): Build 'Glamping' AirBNB on top of Mountain to generate cash flow (current conservative estimates are between $1,000-$1,900 a month)
Mid Term (2024): 1- Submit sub division permit for top of property (24-36 month wait); 2- Build second 'Glamping' AirBNB
Long Term (2025-2027): Dependent on market conditions. Goal would be sub-divide it out, build second home on top of property. Current projections would be for a 1,500 sq ft house would cost $550-650k; and we could sell it for ~$850,000- $985,000.

Currently building AirBNB on top of the mountain:
- $3,000 in dirt prep, raising top of mountain up 2.5 feet and flattened.
- $12,000 material to build a 3 foot raised 25x 25 foot platform.
- $10,000 purchasing geodome and furnishing.

What made you interested in investing in this type of deal?

This deal enabled myself to capture the sub 3% interest rate, have amazing views, and acreage to force cash flow

How did you finance this deal?

VA home loan; 1031 100K from previous sale.