All Forum Posts by: Darin M.

@Chris Frydenlund  My pleasure!  Land prices are nuts here and is part of the reason we are moving.  If you know anyone who wants a slice of Wimberley this is our house that hits the market later this week.

https://journeylab.smugmug.com/Architecture/415-Lo...

And no unfortunatley can not be STR..... once again part of the reason for the move.

Best of luck!

Great work @Christopher B.!!   That is perseverance.  The Kitchen looks great!  Just nice choices through out.  

I just wanted to make sure you got my response to my email from several days ago.

Evening Chris,

Wimberley is a tricky place in general to set up a vacation rental operation. The city has been cracking down quite a bit here in the past 12 months. If you stay outside of the city limits you may have more options. I know of a group that has been trying to buy land for a similar operation that are either being out bid for the land or the numbers do not make sense.

A couple of thoughts for you to consider:

- to do this you will have to have a septic system in place - approx $10 to $15K  if there is not much rock to pound through. The other option is a 200 gallon black tank that will have to be pumped probably after each tenant. You will have to check with Hays county to see if this is allowed.

- you will need electrical in place - PEC Pole rate the last I heard is $3000 a pole from an existing line from a good friend who built his dream place about two years ago. He had to place 12 poles. $36,000

- Water? delivered, Rain water catchment or well based. The most basic system will be a water delivery is about $200 for 2000 gallons. A tank will cost about $1 per gallon to purchase plus labor and filtration system. $4000 +/-

Finding these three things on a open piece of land for lease is a challenge.

Will you be willing to do the improvements yourself?

Will you be willing to sign a multiple year lease to cover these costs?

Will the land owner want "strangers" coming onto the land that they do not know?

My suggestion for you guys is to actually find a piece of raw land and buy it to pull this off. If you are anywhere close to a river make sure you read any and ALL documents if there is a POA / HOA which are probably in place to protect the "Silence of nature" (This is one of my main issues with this area as a whole). Almost all of them forbid STR.

The current positive side of all of this is that properties on the river are not selling at this current time as the effects of last years flood is still visible and will be for many years to come. The wound is still open. Now is the time to buy something along the river if you want it. Just make sure you are outside of the City of Wimberley Jurisdiction. The last property that I saw sell inside city limits went for $103,000 for an acre which has been the average over the summer for a blown out property that need a massive overhaul of a basic summer cabin.  Outside city limits would probably be about the same.

I will keep my ears open for anything for you, and will reach out to a couple of investors that I know up here that may have something that might work for you.

So I can reach out with more specific info:

-West, East, North or South of Wimberley matter at all?

-Would you be willing to put in the above mechanicals?

-How long of a lease?

other items that you have listed since you emailed me that you are asking about:

Internet cost will either be $57 a month with Texas wireless if you are in line with one of their towers or Exceed satellite for $150 for 30 gigs of download.

As to the Airstream you mentioned above, this one is rented about 1/2 mile from my place here in Wimberley.  The couple that has it has multiple properties that are all VRBO and have been running it for some time and work on their business daily.

Thoughts for you on buying an old airstream.   Are you going to rehab it yourself or have someone on hire to do it?  How are you going to handle repair issues that come up at night.  Tradesmen here are hard to come by currently as many are rebuilding many of the houses that were destroyed in the two floods last year.  They may be able to get to you but it could take several weeks.  

Let me know your thoughts and I will see what I can dig up.

Best regards,

Darin

Has there been any comparable sales in the nearby vicinity that you have found within a several mile radius? Is the property close to any industry?

My wife and I have installed several IKEA kitchens in the past couple of Houses. They always hold up well and have been able to take the abuse of 4 kids and one neanderthal. The 25 year warranty is also a nice feature including the fact that you can transfer it to the new owners if you give them the receipt, just make a digital copy of your receipt for the cabinets, IKEA receipts fade with in a year or two.

@Evan Thomas  the goal is not to soak the ceiling, just get the texture damp and then it falls off with scraping.  My main recommendation is still to hire it out.

Turn up the heat in the house, spray with water out of a pump bottle, Scrape, patch nicks and cuts, texture, vow to never do again.  Better yet hire a crew that can come in and do it all in a day and be done with it.

Nice work Austin!  

@Account Closed  No one ever talks about what to do once you have reached "The "Dream".   I have been there several times (just not with the level business you have) but here are some thoughts that have helped steer my course to a really fun life.  

• What is your biggest passion that you can turn into a wide awake dream - Skiing, Travel, and piloting?  Okay here is a fun idea, buy a STOL plane with ski runners on it. Strap the skis to the bottom of it fly up into a back country valley and skin up to the ridge for virgin turns several times.  Fly back home.  Would this make you smile?  Personally myself I have been blessed to hike and drop ridges on four continents on  snowboards.  How big can you dream?  Go find your true JOY.  Mine is now cooking for my wife and kids and getting them outdoors.  Real estate is second.
• Your close relationships - Just be completely honest with those who need to know, like "the One".   If you think money will be an issue for her then you need it talk it out with her.   But as you said, you like "corrupting" her and she is enjoying it.  I personally think you will be just fine with a woman who has provided for herself for years.   Trust is key in any relationship.  Not all of your friends need to know about your net worth, they don't care.  They are there for your friendship.  I do speak from experience on this and I am not the one with the millions in net financial worth.  If they become money grabbers then you do not need them.  
• Last, don't isolate yourself from others with wealth since not all of them are just about money.  Like folks that might only have $200 to their name, some can be really fun hang out with and have crazy passions just like artists, bartenders, carpenters and priests.  How about having the time to go riding with several close friends through Mexico on dual sport motorcycles for a month?  If they only focus on money then move on.  Go find your people.
• Go build something that excites you.  An Iphone app, a STOL plane or a park for kids to get outside and play on.  Only you will know what you want to build.  You have the resources to have some real fun so why not?

Have fun and Great conversation for all to see.  Nice 

@Jay Hinrichs  Interesting Article.  I think you could easily replace the location with the East side of Austin and it is the same there.   East Austin still has a way to go but I still regret not buying over there back in 2004 when I moved here.  Lessons learned.