8th-10th REI Property(Land in Texas)

[V.G Jason]

Investment Info:

Bought some land in Fredericksburg Texas to create an STR for those avid hunters and wining trips. Been invited to plenty over the years, rarely and barely went. Understand the appeal, will market to it. Other side of the property I am going to build a little ranch house for my family.

8th-10th REI Property(Land to build STRs)
List Price: $161,000
Purchase Price: $147,500
Financing: Cash
Size: Little over a half acre(about 22k sq ft)
Build: Current design is 3 STRs

1 House- 4,000 SQ FT 5 bedrooms/4.5 bathrooms with expansive backyard incl large pool(full size lot is 6,300 sq ft)
1 House- 2,100 SQ FT 3 bedrooms/3 bathrooms with backyard small pool & hot tub(full size lot is 3,100 sq ft)
1 House- 1,600 SQ FT 2 bedrooms/2bathrooms limited backyard with hot tub(full size lot is 2,200 sq ft) 

Prices are coming at about $225sq/ft for the 4k house, $208/sq ft for the 2.1k house and I'm able to do the 1.6 house for about $188.5 sq/ft.

Costly to build, don't think it'll cash flow for the first 2-3 years but I'm betting this area picks up to due location and proxy to major areas. It's also an area I've wanted to get into for personal years since the start of Rona.