All Forum Posts by: Jason Lowe

Thank you, Johnny. Happy Thanksgiving.

Price of $2.3m is only for the 9.3 approx acres. The 4.5 approx acres next door would be an additional cost (not owned by me at the moment. I need to see if it's worth buying it at approx $1m.

Investment Info:

Other other investment in Mckinney.

Sale price: $2,300,000

Two separate contiguous parcels of land of approx 14 acres in Collin County, McKinney ETJ (Prosper ISD), North of DFW area, Texas. North of Highway 380, on Wilmeth Road, in between Custer Rd and Ridge Rd.

($2.3m for 9.3 approx acres)
($1.1m for 4.5 approx acres)

Best uses:
Large estate with mother in law home
Small development with 1/2 acre luxury homes
Tiny home community
Office spaces made up of tiny home offices
Small retirement community
Restaurants
Flex warehouse
Commercial

The property has approx 40' of Wilmeth Rd frontage.
Rectangular shaped property from North to South.
Southern border of the land is Wilson Creek (a large, well established, full time creek with old growth trees)
Approx 1 acre of non-recoverable flood zone along length of creek
Two small ponds on the property, which can be filled in to utilize
Small neighborhood to East of property line with utilities ready and available for project
Currently a couple of older homes and barn structures on property (100% liveable and well maintained)
Wilmeth Rd is currently expanding down the block to a 4 lane road which connects to Highway 75 in McKinney
Large developments are underway within a 1/2 mile to 3 miles out radius
<4 miles to Costco, ChickFilA, WholeFoods, Cinemark, major hospital
AT&T Fiber and Atmos Gas at front of property

A water well can be run, if desired, or tap into the city's water (currently on city water and has large main at front of property)

A CE firm has drawn up plans for a small, 12 home, 3/4 acres development. Infrastructure costs of $900k for the development were estimated (late 2022). They believe that all but about 1 acre of land can be remediated with a LOMA for flood zone.

I will either sell outright or consider partnering.

Investment Info:

Other other investment.

Sale price: $2,300,000

Two separate contiguous parcels of land of approx 14 acres in Collin County, McKinney ETJ (Prosper ISD), North of DFW area, Texas. North of Highway 380, on Wilmeth Road, in between Custer Rd and Ridge Rd.

What made you interested in investing in this type of deal?

I purchased the property 10 years ago with the idea of it being a long term investment.

How did you find this deal and how did you negotiate it?

I purchased it to live on and to be a long term investment. I purchased it via a RE agent.

How did you finance this deal?

Traditional 30 years fixed deal.

How did you add value to the deal?

Lived on property for 10 years. Maintained and cleared land for usage.

Investment Info:

Other other investment.

Sale price: $2,300,000

Two separate contiguous parcels of land of approx 14 acres in Collin County, McKinney ETJ (Prosper ISD), North of DFW area, Texas. North of Highway 380, on Wilmeth Road, in between Custer Rd and Ridge Rd.

Best uses:
Large estate with mother in law home
Small development with 1/2 acre luxury homes
Tiny home community
Office spaces made up of tiny home offices
Small retirement community
Restaurants
Flex warehouse
Commercial

The property has approx 40' of Wilmeth Rd frontage.
Rectangular shaped property from North to South.
Southern border of the land is Wilson Creek (a large, well established, full time creek with old growth trees)
Approx 1 acre of non-recoverable flood zone along length of creek
Two small ponds on the property, which can be filled in to utilize
Small neighborhood to East of property line with utilities ready and available for project
Currently a couple of older homes and barn structures on property (100% liveable and well maintained)
Wilmeth Rd is currently expanding down the block to a 4 lane road which connects to Highway 75 in McKinney
Large developments are underway within a 1/2 mile to 3 miles out radius
<4 miles to Costco, ChickFilA, WholeFoods, Cinemark, major hospital
AT&T Fiber and Atmos Gas at front of property

A water well can be run, if desired, or tap into the city's water (currently on city water and has large main at front of property)

A CE firm has drawn up plans for a small, 12 home, 3/4 acres development. Infrastructure costs of $900k for the development were estimated (late 2022). They believe that all but about 1 acre of land can be remediated with a LOMA for flood zone.

I will either sell outright or consider partnering.

What made you interested in investing in this type of deal?

I purchased the property 10 years ago with the idea of it being a long term investment.

How did you find this deal and how did you negotiate it?

I purchased it to live on and to be a long term investment. I purchased it via a RE agent.

How did you finance this deal?

Traditional 30 years fixed deal.

How did you add value to the deal?

Lived on property for 10 years. Maintained and cleared land for usage.

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.