All Forum Posts by: James Devoe

@Mitch Davidson

Thank you for the advice. My wife and I own an Interior/Architectural Design company. If we do build a Container Home, we plan to build it up to residential code. The container itself will not be structural. 

In your opinion, does this make a difference if we wanted to sell or refinance on it in the future?

Thank you.

Hi Everyone,

I'm playing with the idea of building a Shipping Container Home around Asheville, NC.

The plan is to either hold it as an STR, or to sell it.

The question I have is regarding Mortgages:

* If I hold the property for STR, I will want to be able to Re-finance my money back out (BRRR Method)

* If I sell it, I will want to make sure a buyer will be able to take out a mortgage for purchase. 

Does anyone know if it's possible to take on a mortgage for this type of structure?

Will this be dependent on the square footage?

Hi @Nestor Morales

As someone who is also fresh to the STR market, I can tell you you need to do your market research to start and get yourself hooked up with a good agent that knows that market and area.

I am currently building 2 STR Glamping sites and I can tell you that you don't want to re-invent the wheel. What we've been doing is going on Airbnb and looking to see what is popular in the area and capitalizing on that.

Look to see what STRs are booked solid and what those peak seasons are.

I would also recommend trying to buy in time so that your STR is up and running by that peak season so that you don't get slammed with holding costs before your investment takes off.
 

@Walker Rouse

Thank you for the suggestion, I'll definitely check that area out.

Do you know of any other vacation hotspots in NC other than near lakes? 

Thank you @Cory J Thornton

That's very sound advice, I'm going to look into that

@Cory J Thornton

Thank you for the insight, I never even considered this. Most of my insight on this area is from my parents who live in NC.

I see you're a property manager and live around that area, do you have any suggestions on how to make this work? Specifically the whole gate dilemma 

@Michael Baum

Thank you for the advice.

There are multiple properties in this area with decent sized houses on them, so I don't believe this will be a problem.

I've heard that tiny houses are becoming kind of a thing for STRs now, plus the cost and time of building one is much less, so I figured it deserved a look.

If nothing else, we can design a home with our company and just sell of the design to any interested investor.

@Carlos Ptriawan

I'm actually not looking to do anything too exotic, maybe some type of small lodge or lake house design for the area. I have heard you do need to get your STR to stand out among the rest though.

@Michael Baum

The plan was to buy a piece of property that already has a MH on it.

However, given what you're telling me about a MH depreciating over time, I guess it might be best if we just build a house or buy a manufactured home instead.

What are your thoughts on Tiny Houses?

I guess that depends on the mobile home