Texas, Collin County, DFW area: Mentor/Coach/Investor needed for complicated project

Texas, Collin County, DFW area: Mentor/Coach/Investor needed for complicated project

Member since 2024 · 6 posts · 0 votes

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.

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Diego AlvaradoBusiness Member
Real Estate Agent · Flower Mound, TX · Member since 2016 · 298 posts · 140 votes
1y

Your project is amazing and it would see a real change for people if done right.

First you have to identify what you are looking for. A coach doesn't need to know Collin county, a mentor does. 

For such a large project, you have to find both. You have to have a coach that helps you deal with the decisions and priorities. A mentor to partner and begin developing with him.

I haven't seen any good coaching program around here. I heard that BP did have something that brought together investors but I don't know what happened with it.

I would really love to create something similar that EO (entrepreneur organization) for real estate investors. 

Feel free to reach out if you would like to talk more. I'll try to help us much as I can.

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  • Johnny LynumPro Member
    Investor · Leesburg, VA · Member since 2018 · 233 posts · 92 votes
    1y

    Hey @Jason Lowe! Your property sounds amazing, and you've got great ideas for it—those trees and stream are a real bonus! 

    For mentors/coaches, check out local REI meetups here on Biggerpockets, Meetup.com, or Collin County REIA. You'll find experienced investors who know the area well. Having one can definitely speed up your process, especially when considering a HELOC or bringing on investors. I've found that working with someone who's local and understands the market dynamics can really help avoid costly mistakes.

    Keep us posted on your progress—I’m sure others here would love to learn from your journey too. We’ve all been in the “figuring it out” phase at one point! 💪

  • Member since 2024 · 6 posts · 0 votes
    1y

    Thank you, Johnny. Happy Thanksgiving.

  • Johnny LynumPro Member
    Investor · Leesburg, VA · Member since 2018 · 233 posts · 92 votes
    1y

    You're welcome! Happy Thanksgiving to you too! Let's connect!

  • Diego AlvaradoBusiness Member
    Real Estate Agent · Flower Mound, TX · Member since 2016 · 298 posts · 140 votes
    1y

    Your project is amazing and it would see a real change for people if done right.

    First you have to identify what you are looking for. A coach doesn't need to know Collin county, a mentor does. 

    For such a large project, you have to find both. You have to have a coach that helps you deal with the decisions and priorities. A mentor to partner and begin developing with him.

    I haven't seen any good coaching program around here. I heard that BP did have something that brought together investors but I don't know what happened with it.

    I would really love to create something similar that EO (entrepreneur organization) for real estate investors. 

    Feel free to reach out if you would like to talk more. I'll try to help us much as I can.

  • Real Estate Agent · Mckinney, TX · Member since 2014 · 24 posts · 9 votes
    1y

    hey @Jason Lowe your property sounds incredible and it sounds like you have some good ideas flowing.The BiggerPockets community has profoundly impacted my journey in real estate and investing!

    We have been hosting an investor meetup on the first Saturday each month for the past 3 years. Usually around 25-35 people who consistently show up. Shoot me a message and I can share some more details with you. 

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