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Thinking of a log cabin rental (x-outdoors)

1,477 Views | 9 Replies | Last: 4 yr ago by FrontPorchAg
FrontPorchAg
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So, I just found out my property is allotted by county code to have a "guest house" up to 1,000sqf. I'm thinking about putting on a rental unit for extra income.

  • I have a good potential build site about 250ft from electricity and water.
  • Location is western wyoming
  • It would be a long term rental

I was thinking about putting in a prefabbed log cabin. I was wondering if anyone here had advice, thoughts or warnings? Any thoughts on prefabbed versus kit homes? Does anyone have experience with either?

Thanks
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SteveBott
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AG
My first question is what is the attraction of guests wanting to rent it? Nearby attractions? The property itself? Football weekends? Family rental?

From the demand you can determine a cost to get a decent ROI. And if it's worth it.

https://www.facebook.com/Sawpilot/videos/2452120795077733/?t=0
FrontPorchAg
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SteveBott said:

My first question is what is the attraction of guests wanting to rent it? Nearby attractions? The property itself? Football weekends? Family rental?

From the demand you can determine a cost to get a decent ROI. And if it's worth it.

It will be long term. The going rate in the area is a $1,000 a room a month.

I know it's a good investment. Just curious if anyone has had experience with these types of builds.
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SteveBott
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AG
Can you get long term and pay 800 total expenses a month because that's your budget.

800 - 150 taxes and insurance is a 650 mortgage.

80000 cost 15 year note 4%, about 600 a month. Can you build with 80k in loan money plus your money? Will they pay 1000 for what you build?
FrontPorchAg
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Yes. Going rate is $1,000 to 1,200 per bedroom/month. So we are looking at a 2 bedroom 1 bath. (Potentially a 3:2).

No 2 bedroom in the area is renting for less than $2,000 a month.
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Diggity
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AG
3/2 under 1,000 sqft? sounds awful
FrontPorchAg
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Diggity said:

3/2 under 1,000 sqft? sounds awful

To ski bums, it's fine.
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Diggity
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AG
I would love to see that plan
AggieGunslinger
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AG
You know your market better than any of us, but I will say that my rental with 1 bath is harder to rent than the others, even though it is in a better school district, has a bit more of an updated interior and is on a much bigger lot.

250' is a decent run for the utilities, I would price that out before I went to far.
NoahAg
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Sounds cool. I don't have much to add. Is your property in an area where it could be a good vacation rental?
FrontPorchAg
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NoahAg said:

Sounds cool. I don't have much to add. Is your property in an area where it could be a good vacation rental?
its between jackson and Hoback but it can't be rented short term.
All animals are equal, but some animals are more equal than others
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