Building a vacation STR from scratch

[Steve Ehrman]

We have been looking at vacation property in the northern part of Michigan's lower peninsula. There are some beautiful lakes and woods near Hillman.

We are thinking about VRBO/Airbnb rentals. It is a 5 acre plot on a great swimming, boating, and fishing lake. It is a drive to get there - no interstates or highways close by.

Airbnb's in the area are renting right now, end of season, for $275 - $350 per night. What factors should I consider in putting together a plan to build from scratch? Thanks.

[Chad McMahan]

Quote from @Steve Ehrman:

We have been looking at vacation property in the northern part of Michigan's lower peninsula. There are some beautiful lakes and woods near Hillman.

We are thinking about VRBO/Airbnb rentals. It is a 5 acre plot on a great swimming, boating, and fishing lake. It is a drive to get there - no interstates or highways close by.

Airbnb's in the area are renting right now, end of season, for $275 - $350 per night. What factors should I consider in putting together a plan to build from scratch? Thanks.

If you're leaning toward having something built, perhaps think about a nicer modular property. Construction is 1/3 the time, and some modular companies out there make amazing homes- very modern/industrial with lots of glass and metal and taller ceilings. "Good" unique markets very well, and this may be a good way to go.