🚧 First time building – order of operations? 🚧
Hello BiggerPockets,
My wife and I have dreamt of running AirBnBs and resorts since we were married. This year we want to take the plunge, take a risk, do something. Our goal is to build 2-3 geodesic domes as short-term rentals in the Blue Ridge mountains, taking heavy inspiration from Domes Charlevoix in Canada. Ideally, we would like to complete this project for $250-300k (maybe this is naive, but I have no basis). The problem? We don't know where to start. Things I know need to happen before construction:
• Find a lender. - I don't know what kind of lender to talk to, because I'm unsure what type of loan we will need. Business loan, construction mortgage, traditional mortgage?
• Find a property. - I don't know how much we can allocate to land because I'm unsure of the final cost of the domes.
• Get an estimate on the cost to construct our project. - Will a general contractor be willing to talk to me before the above two tasks?
My wife and I would like to live on-property as soon as one of the domes are livable (possibly in an airstream before), until a time where all domes are rentable, automated, and positive cash-flowing. It's worth noting that we do not own a house, we currently rent and have good flexibility of location with our jobs.
Where do I start? Who should I talk to first? Any and all advice is welcome and hugely appreciated.