Suggestions appreciated! What to do with unrestricted 9+ property

[Marc Griner]

I recently bought a 9.222 acre property with 2 acre lake, 1200 square ft home, 2 car detached garage, barn with a well (city water available if wanted) and septic system. This property is in Conroe, Texas 77303 (North part of Houston)and the property is almost shaped like an upside down T which has the lake on the back and widest part. My plan is to keep this property as I believe the value will grow rapidly over the next 5-10 years+. The buildings are in need of some TLC and plan to get it rent ready and would really love some suggestions/ideas to what I could do with this property. Some of the things I have thought might be potential are as follows. 

Rent the current home 

RV/Camper hookups spaces

RV or Storage

Future homesite

I even have a friend that has a franchise animal resort that we could use this property for.

Thank you for any help and let me know if need to add any other details.

Here is link to the property listed 2 years ago

[Randall Davis]

@Marc Griner

I live in the Conroe area. Very familiar with 77303. This area didn’t get much of the flood a few years back as the north side of 45 (McDade). Central East was relatively okay. My 2 cents…. You can get a good rent from having the barn and stable. A second income would be adding some covered storage units for boat and RV. The pond or ‘lake” is more of a liability than a asset in current condition. Again, it would be a resource for renters with horses. It’s under 11 acres, so you can’t get ag exemption from putting a cow or two on the property.