My family is looking to buy land in New Hampshire preferably Thornton and build a house to rent out as a vacation home. Has anyone tried this? Any cash flow?
I have not tried to custom build a home to use as an AirBnB, but I can say that it will be a little more difficult in today's market. Land is selling for the first time in a decade much faster than usual, and much like house sales the prices are going up for land. Compound that with the extraordinary prices of building materials, plus a shortage of contractors, and you get an environment that is much more tricky to produce a good deal. I'm not trying to dissuade you, it certainly is possible - especially if you can provide any sweat equity on the build.
If you need an agent, I know one who is skilled in land deals - private message me and I'll send you their contact info.
Let me know if you need any more details, I'd be happy to assist. And good luck in your endeavor.
@Nick Yego it's a good location for short term rentals, close to ski mountains like Waterville Valley and Loon. Then in the summer months it's about 30mins to Newfound Lake and 60mins to Lake Winnipesaukee. What kind of plans does your family have?
I second what @Matt Herbert says! Unless you have long-term relationships with contractors this plan may prove to be quite difficult given the current environment and high prices of materials. Is this something you would plan to keep long-term?