All Forum Posts by: Erin Fulton

Happy New Year! Currently, I own an STR in Port Aransas that does very well. I own it solo (no partners). Now, I am considering a second STR investment and thinking about a lake property. Ideally, something in the hill country as I live in an Austin suburb. My question is about the best way to find possible investment partners (and vetting those partners)?

I am not sure where to start as I consider this possibility (having partners) and thought that some of you may have some insight. 

Thanks in advance!

thanks @Jody Sperling!

Does anyone know where online to find resources (like articles/calculators) that can help determine the cost/profit potential of developing a home on a lot/selling it vs selling the land (with no development)? I am trying to understand the risks/benefits of both as well as the possible upside/costs of each option. 

It is an option but we do have to be mindful of the LCRA and new SW Travis County water conservation district requirements concerning the placement of water wells and septics. it can get tricky. I am learning quickly that land prep is a whole area of expertise in itself! :) 

thanks for that perspective @Jordan Moorhead. I suppose the ROE is higher if I put a rental property on the lots but given the high building costs, the costs to drill water well/clearing/septic and high taxes on the lots, i would have considerable costs to make that happen which would mean years longer to make that back. The market is really hot right now so I may be better off selling and taking the cash and reinvesting in a part of the state that hasnt already exploded the way the Austin area has. OR, considering selling the main residence (on 6 acres) and building a new home on those lots and then turning around and selling that in the future... the highest ROE would seem to only work if I could have higher density rental property- VS large lots (multiple acres) like I do. Good news is that it they are unrestricted so I do have options. 

thanks

Thank you for that info @Victor Steffen!

Hello! I have been investing in (and holding) land and one STR property over the last few years. We are now (in my area near Austin Texas) in a very high sellers market and feel like we need to consider the pros/cons of selling some properties and/or developing on them and selling or renting etc. there are a variety of options on how to do this, likely with all different ROI (and cash needed) impacts and timing factors to consider. This is a little overwhelming to think about with no one else experienced to bounce it off of, in order to feel good about a chosen strategy to execute on. Are there experts out there that offer this kind of strategic advice or courses?

Hello! I am new to this and looking for a place along the Texas coast to invest (STR/LTR) in a small multifamily (maybe duplex). I thought I would start with just trying to cover the mortgage with a LTR and then use the other unit for myself and STR uses. My biggest issue is "where"? There are some very popular towns but not sure how to evaluate them against each other as I am only able to find data out there for larger cities. Any ideas on how to go about this?