Quote:
Originally Posted by BK911
I am 35 minutes away, one exit up the highway.
Sweat equity aint happening.
I am already building my retirement cabin across the street and don't have the time or back to build two at the same time.
Need something income producing quick so I can build on the other lots.
Yes everything will be rental grade-ish.
But this is a lake front community with $M+ homes.
Don't want to skimp too much.
These lots are across the street from the lake but do have lake access and lake view.
No direct comps, nothing developed on non-lake side yet.
With the awesome views and boat ramp really close a decent cabin should pull in some cash during the summer.
Also thousands of acres of ATV parks within minutes so year round rentals are possible.
Any issues with borrowing against my 401k?
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I’ve been thinking of doing the same thing. Here’s the thoughts I’ve had.
I would consider durability in addition to first cost on finishes.
Countertops for example, low first cost won’t give you much wow factor and wouldn’t stand up to abuse. Granite or synthetic stone gives you wow but is easily damaged.
Soapstone is durable and abuse gives it character.
You can use it for countertops, backsplashes, sinks, floors, accent walls in a toilet room, etc.
If you’re building slab on grade, a polished concrete floor with radiant heat is also durable. Performs well in the winter. Depending on the architecture (high ceilings) you might not need much in the way of AC. A mini-split with high performing ceiling fans might suffice.