New Build -- Maine AirBnB -- Advice

[Christina Hodgkins]

Hi BP!

I have a piece of property on a lake in Maine. I am running the numbers on building a house on it and renting it out as an AirBnb. If anyone has excel sheet templates for new constructions builds, they would be greatly appreciated. It is also my first rental property so any and all advice is helpful. I have no experience navigating the construction loan process.

Thanks!

Christina

[Account Closed]

I finished a build and flip last month in Southern NH on a 1,425 sq ft Ranch home on a slab foundation. The building price was about 162 dollars a square foot. Keep in mind that doesn't include the land cost and a private well was on site already. Plus I did a lot of the work where a licensed wasn't required.

Here is a spreadsheet with the full cost breakdown for the ranch. These costs might not be accurate overall, but could be helpful on some items electrical, plumbing / heating, sitework etc.

Dealing with a bank and keeping the budget in line is a challenge. You want a lot of cash on hand so you don't have the project held up waiting on draw requests etc.