Developing a Second Home That Pays for Itself
Instructor: Wayne Congar, Founder & CEO of HUTS
Format: This is in-person Intensive. It will be organized into Three +/- 90 minute modules and will run a total of 6 Hours.
The session will combine lecture, collaborative workshop, the creation of usable materials, and Q&A
Who is this Course For?: Future homeowners and aspiring small-scale developers who want to create a second home that doubles as a cash-flowing, equity-building asset.
Overview
The path from having a rough vision to an actual income-producing property isn’t all magic. It's about math, methodology and hitting clear milestones.
This six-hour HUTS course gives you the same framework we use with clients across the country to design, finance, and build homes that pay for themselves.
You’ll learn how to think like a developer (and a hotelier), evaluate land, make thoughtful (and high ROI) design decisions, and translate feasibility into beauty—without overbuilding or overspending.
By the end you'll walk away with a working development model for your project, a pro forma, a way to screen build sites, a target guest profile, an idea for the scale and form of your home, and an in-depth understanding of the steps required to go from idea to completed home.
What You’ll Learn
How to calculate if a property idea “pencils” before you buy land.
How to find sites that are beautiful and buildable.
How to define your user (or guest) and design around what they will actually search and pay for.
How to design with both cost and experience in mind.
How to finance and phase your build intelligently.
How to assemble and manage a team that gets your project built—on budget and on schedule.
Each course module and session combines direct instruction, real-world examples from successful HUTS projects, and guided exercises and templates you'll fill in as you go.
MODULE 1: SET THE MODEL
Session 1A: Pro Forma
Learn how to:
Build a clear, usable financial model before spending a dollar.
Estimate build cost, revenue potential, and ROI.
Test different use cases: personal, rental, hybrid.
Understand how lenders and appraisers think about “value.”
Deliverable: A working pro forma tailored to your property goals.
Session 1B: Who Are You Building For?
Learn how to:
Identify the primary “user” (you, guests, or renters).
Understand demand patterns: short-term, seasonal, or year-round.
Define your home’s story and value proposition through your guest’s eyes.
Align design, pricing, and amenities with what drives occupancy.
Deliverable: A Renter / Guest Profile & Positioning Brief.
MODULE 2: PROJECT PLANNING
Session 2A: Finding Land That Pencils
Learn how to:
Evaluate land through the lens of feasibility and yield.
Decode zoning, access, utilities, and hidden infrastructure costs.
Use mapping tools and data sources to compare parcels.
Balance emotional “fit” with financial reality.
Deliverable: A completed Site Screening Matrix (the same one we use at HUTS).
Module 2B: Design Like a Developer
Learn how to:
Design to a target price per square foot.
Layer experience into efficiency: the details that create “wow” without waste.
Plan amenities and layout for revenue performance (hot tubs, views, outdoor kitchens, etc.).
Deliverable: A cost-aligned design concept and amenity plan.
MODULE 3: MAKING IT HAPPEN
Session 3A: Lining up Financing
Learn how to:
Navigate loan types: construction, DSCR, HELOC, and hybrid.
Use your pro forma to prove out income and reduce perceived risk.
Plan for cash flow over the course of design and build.
Structure partnerships or creative financing options.
Deliverable: A Financing Strategy Worksheet and lender-ready summary.
Module 3B: Build Team Assembly & Quality Control
Learn how to:
Identify the right GC, subs, and service partners for your region.
Read and compare bids apples-to-apples.
Manage costs, schedules, and scope changes.
Plan for fit-out, photography, and rental launch.
Deliverable: A Build Team Checklist and Project Execution Roadmap.
Included Materials
HUTS Pro Forma Template
Site Selection & Feasibility Workbook
Renter Persona & Positioning Template
Design Budget & Amenity Planner
Financing Strategy Worksheet
Build Team Tracker
You’ll Walk Away With
A prototype development plan for your own second home.
A defensible pro forma.
A defined guest and pricing strategy.
The knowledge to manage your own project from start to finish.
Your Instructors
HUTS' CEO, Wayne Congar
Senior HUTS Staff
Financing & Underwriting Consultants
Construction Consultants