3rd STR - Luxury Hammock House

[Duane Napier]

Investment Info:

Single-family residence buy & hold investment in Shawanee.

Purchase price: $400,000
Cash invested: $150,000

We completed this new custom home build in November 2023 on the 20 acres we purchased in 2021. We used a construction loan + our own cash to build out this custom STR featuring 3 loft-net hammocks that we purchased from France and is the same netting used in catamaran boats.

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

We purchased 20 acres with the intent on building STR's. We invested more on this modern build than initially intended however we are confident the STR will generate cash flow and appreciate the property value as intended.

How did you finance this deal?

Combination of construction loan and personal cash.

Lessons learned? Challenges?

Get great contractors, get everything in writing and think through all the work needed for the finishing touches.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

We worked with @adamratliff to purchase the land in 2021, I highly recommend him as an agent in the Red River Gorge and Cave Run lake area.