All Forum Posts by: David Thompson

@Michael Chizhov I will bet the home you almost bought, Is the home directly above my property. I met them and they turned it into a tri-plex, on Toho Trl, sold for $371k in '17. I own the acre below them. 

I don't have approved plans yet, but am thinking about possibly starting construction as the ground thaws spring of 2021. Looking to discuss plans now. I bought the land cash and will have about $120-140k cash to start construction but don't want to put much more than $300k total, initially, not including me finishing the basement. I'm cautious to see what the vacation rental market will look like then, and many other things in our economy before diving in. I appreciate your input and guidance, already.

Thanks @Michael Chizhov! Good advice and my original plans were about 1800 Sq Feet with a walkout basement, that once finished would have over 2,500 Sq Feet of living space with enough beds to sleep 12+. I was backing down as the neighborhood, Kachina Village, doesn't seem to have many homes that size so I thought I'd be building myself out of the market. 

I do have a question. Do you have any recommended General Contractors/Developers? 

I bought an acre a few miles outside Flagstaff about a year ago. The property is a gently sloping hill, with an easement through the top 1/4 for a neighbors driveway, so about 3/4 acre is buildable. All utilities (gas, water, sewer, phone, electric, even fiber internet) are on the property but not connected yet. 

The neighborhood is a common spot for vacation rentals with about 20-30 on VRBO. I'm looking to build a 3 bed/2.5 bath in the 1200-2000 square foot range home. As it's on a hill, I'd like an unfinished walkout basement that I'll finish later. My plan is to VRBO it and also enjoy it with my family when it's vacant. This isn't a luxury build, but want a clean and cute open 1st floorplan with a loft for extra sleeping and a play area for kids or a theater, and I'll eventually finish the basement with another bath, a maybe a small bedroom or two to maximize rents. 

I own the land and trying to get a decent range I'd need to say to build and furnish it. I'm thinking in the $125-175k range. Any advice to get me started would be really appreciated. Thanks in advance!

I just purchased an acre in Flagstaff, AZ with plans to build and rent via VRBO/AirBNB, then maybe subdivide and sell 1/2 off. Looking at 3 bed/2 bath 1200-1500 square foot home, with a loft and bunks. All utilities are on the land and there is no HOA which I hope makes it easier. I have a connection that does construction loans only requiring 10-15% down, but I don't have a great estimate of how much I should save before starting construction? Should I trust a construction or developing company to give me that #?