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Updated 21 days ago, 12/04/2024
Texas, Collin County, DFW area: Mentor/Coach/Investor needed for complicated project
Hi Guys...1st post, although I've been following BP now for a year. I appreciate the willingness of the group to share knowledge and am learning a lot via the postings and videos. Thank you, first off.
I own and live on about 9.5 acres in the McKinney/Prosper, Texas area in the ETJ of Collin County. We are in the middle of major infrastructure and RE growth (res and comm) and need to know how best to handle the property we are on from both a short time and potential long term investment perspective. Our best use for the property would be to build a couple of large estate home (8k sq' and up) and form a private estate, but, being that we are in the County with no existing zoning requirements, we could also build what we want and potentially turn it into an income generating property. As we have 100+ year old trees on the property, as well as a pond and year round stream, I think it could also be used for a tiny-home or tiny-office (commercial) community, which would allow me to maintain control of my property long term and providing recurring revenue to me (my company).
All of this being said, part of the plan is to purchase my neighbor's 4.5 acres to give me complete control of almost 14 acres off a major city/county road that connects to a major Texas highway in the DFW area. To purchase this property would cost near $1m.
I am considering opening a HELOC in order to do any of these projects and possibly an investor. I also believe that having a mentor/coach/investor would allow me to learn, while participating in the project, and then allow me to rinse and repeat the process.
Are there any mentor/coach/investor types who know the Collin County, Texas area on this forum to speak with? Also, which local meetups would be the best place to meet someone with this type of experience.
Thanks for reading my post. I hope it makes sense.
Regards.