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Updated 4 days ago on . Most recent reply

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Katie Southard
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42
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My dream is passing me by..:

Katie Southard
Posted

About a year ago my husband and I went to see a gentleman. We know who owns 30 acres on a private self-sustaining farm in North Texas. We have long wanted to invest in North Texas. The farm is 30 acres, fully self-sustaining, working windmill, air compressors, and water collection tanks, and water purification. Totally off grid save for wifi. Storm cellar, small main cabin and three airbnb tiny homes that he used for family visits. Has a lake, room for goats, chickens, all my hope and dreams. 

the house is about the same price as our house in a suburb of Denver. We bought two years ago and we got a decent deal on an interest rate thanks to buying a new build but… we all know how new builds go.

We cannot move out of state until my 9yo stepson is older because of shared custody agreement with a very toxic coparent. But we still look at properties in North Texas because we wanted to buy, rent and potentially moved in eightish years.

there's a small chance we could get funding for a loan on this property, but it would be tight. probably a bit less than the 800k he wants. again I know the gentleman who is selling it and he is well off so I don't doubt that he would do something creative for us. But what?

we know quite a few people out there but not enough to ask favors really. Most stuff in North Texas is a handshake deal and it's all about who you know. Ideally we'd rent the main cabin cheap then have that person rent the 3 airbnbs but they likely wouldn't stay full all the time. We're talking north of McKinney on the way to OK. 

the dream is so real but the handcuffs of being stuck in Colorado until my husband can take his son (or his son is grown) is so real. We have another son, but we have him full-time, so we could go, save for this one thing. 

Not trying to be over dramatic, but do I let the dream die? I have a 750k home in Colorado with a 9000sqft lot for the same price as this homestead in TX on 30 acres with three income producing cabins. Not to mention rentable acreage. We have a rental in CO with about 200k equity, and a bit of cash stored, but it's a huge leap to take and i don't feel like my ducks will ever be in a row. When we visited, we were just checking out how the self-sustaining place worked but we didn't know that he would be selling so soon and then he kind of sprung it on and now it is up for sale. 

I'm full of creative ideas but now push comes to shove and im left feeling like a real dream is dying. I know there will be other opportunities, but we feel really good about North Texas and feel like it's one place where everything hasn't been scooped up yet. It's just not the price range we've been looking in, mostly looking at far less acreage and smaller properties to rent out until we can get there and rehab, add on, make our own. Anyone got any advice? Maybe i just need a therapy session. 

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Bruce Woodruff
#1 Contractors Contributor
  • Contractor/Investor/Consultant
  • West Valley Phoenix
14,245
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12,077
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Bruce Woodruff
#1 Contractors Contributor
  • Contractor/Investor/Consultant
  • West Valley Phoenix
Replied

Do not feel pressured like this is your one and only chance to ahve this dream. There will be plenty of places like that or better (and cheaper) when you are ready.

Or do what I did and buy raw land and build your own Off-Grid paradise. This way you can do it a little bit at a time. But wait until you are ready......

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