All Forum Posts by: Marco Manomat

Assuming you can't pay most of it in cash - what's the smartest way to finance a lot to build on?

@Tanner Morrill more and more I'm starting to really like these tiny home concept. But, I noticed (for at least in the Boxabl website you shared); there seems to be a waiting list. I'd imagine these things are not easy to get a hold of and will probably get only more difficult to attain as they become more popular. Thoughts?

@Tanner Morrill thanks! 

"Just because STRs are allowed there now (yet to be determined), make sure there's no legislation or CC&Rs coming down the pike that will restrict future use of the house."

- Are you talking more specifically about the actual community; or more-so the Poconos in general?

"An alternative is to buy cheaper land and put 2 tiny homes on it with 20% down on each. Building can't be fun right now."

- This is actually a very intriguing alternative as it would probably be a niche & "hip" sort of thing - given that the HOA allows.

@Luke Carl thanks for the reply. Do you happen to remember what the thread's subject was? Having a hard time finding.

Hey ya'll, my brothers and I are looking to get into our first REI venture; specifically leaning toward building a new STR in the Poconos. This is mostly because:

(1) we already have a lot to build on - we want to take advantage of this + the Poconos is one of the best STR areas in the US.
(2) we collectively have ~$70k in avail cash to use.
(3) one of my brothers is getting his General Contractor’s license soon (though in FL)
(4) we each have a full-time W2 job making around $100k+/year

Curious if anyone had any tips/advice on how to proceed and/or what to watch out for given the above.

For example, what would be the best construction loan to look into? Should we look into partnering with other family/friends who have money? Is there anything specific about the Poconos area that we should consider? What is the STR general outlook in this market, etc, etc. What are other important considerations?

Hi! Lookin for some guidance. My brothers and I want to start investing into real-estate. We are in a bit of unique (and albeit v fortunate) situation where:

(1) we collectively have $100k in cash to use for investing.

(2) we each have good to v good credit.

(3) one of my brothers is getting his General Contractor’s license in a couple of months.

(4) we each have a full-time W2 job making around $100k+/year

• Side note: we even created an LLC for real-investing purposes.

There have been so many directions we’ve looked at given this post-covid market/climate and there’s not one that stands way above the others.

One idea we had was to use that $100k and build a house from scratch (leveraging my brother’s new licensure). One of the major reasons being is that houses are being overpaid for in today’s climate and we could potentially build/sell a house worth $250k+ and pocket the difference after taxes. However, the major downfall here is mostly the length of time needed to complete this project and then also doing the same process for building/selling more houses.

What would you guys do in our situation? Any guidance would be much appreciated!