I just wanted to see if anyone knew anything about this . . . For one of my classes, I have to consult someone on a real-estate venture. He owns 10 acres of land outside of San Antonio. It is next to HWY 181 going to Corpus. I have to figure out what the best use of this land is. I've been researching alternatives to this point, but now I'm looking into what one should really DO when consulting about real estate. I have no idea, and I'm having a hard time finding anything good. I'm looking for good stuff on real-estate valuation, etc. Thanks in advance. ------------------ "Up and down, inside out, outside in, some you lose some you win" -- DMB -> "Sweet Up and Down"
I'm not sure I fully explained what the deal is with this thing. Allow me to expound a bit: The idea is to find the most profitable use of the land. There are two houses on it, and they are about 300 or so yards from the highway. His mother lives in one of them, and he's not really interested in selling the land. At first, he REALLY wanted to build a carwash, but it didn't look profitable due to lots of septic tank and water issues. It doesn't look like the greatest place for this either. We were thinking restaurant from the beginning. Fast food makes the most sense, and Whataburger appears to be best suited for the position. The area is very rural. There is a diamond shamrock right next to it, and a lake down the road. There's also a power plant next to the lake. There are very few homes in the area, and very few businesses. There would be (I'd guess) around 10 or so cars per minute that pass by (that's probably a bit generous). It's also right next to the 1604 loop which runs around the outside of San Antonio. He's owned the land for 12 years. There is a development coming that may be housing, but we haven't found out yet. Most of the stuff I've found online is about buying and selling real-estate as an investment, and it's not really helping. I need some advice, ratios, etc. on what to do. It's a really cool project, but I have had a hard time figuring out how to do a good job in advising him. Thanks again. ------------------ "Up and down, inside out, outside in, some you lose some you win" -- DMB -> "Sweet Up and Down"
Does the power plant have an outfall into the lake? Outfalls make great fishing spots. have him build a fishing pier. How about a driving range, or is it too rural for that? You can always just build a "Chicken Ranch", since the one in La Grange is closed. ------------------ Behad Sergeant at Arms of the Clutch BBS
Driving range is an idea, but I KNOW the neighbors wouldn't like it, and it may not be enough space. . . but I'll look into it. The lake is quite a ways away. About 4 miles or so. I mentioned it b/c there are lots of fishers who go out there. My first inclination was a fishing store, but there's one with MUCH better location down the road. However, a place that serves them breakfast would work. Thanks for your suggestions! KEEP 'EM COMING! ------------------ "Up and down, inside out, outside in, some you lose some you win" -- DMB -> "Sweet Up and Down"
A brothel... hmm. This may not be the best choice for land right next to his mother! ------------------ Stay Cool...
My roommate came up with what is, in all honesty, probably the most profitable use of the land . . . Adult Video Store Now how I'm going to say that "We, students of St. Mary's University recommend that Mr. Gaines put in a p*rn Shop" to the Service Corps of Retired Executives won't be so simple ------------------ "Up and down, inside out, outside in, some you lose some you win" -- DMB -> "Sweet Up and Down"
Make sure that "do nothing" is one of your alternatives. You could do some research on how property values for land "just outside" of large cities has increased in value as the city moved out towards it. His land should appreciate in value just sitting there....without him having to invest in something that may or may not be successful. ------------------ stop posting my damn signature
There is HUGE money in crack rock sales. All you need to do is buy a steel front door with a small portal to pass the drugs through, and get yourself 3 pitbulls. Remember to surgically remove the larnyx of each dog so nobody can hear him growl when he attacks in the dark. Good luck. ------------------
That's what I'd do. The carrying costs can't be all that much, and the land could well have tremndous increases in value over the next few years. I know a guy back in Amarillo who bought up big plots of land years and years ago on the cheap. The city of Amarillo has finally gorwn that direction far enough to where he's been selling the land for huge amounts of money (so far, two hotels, a UA movie theater, a post office, two or three restaurants and a handful of retail outlets have set up shop on his land. Granted, he had more than ten acres, but not a lot more). Sometimes, patience can really pay off. ------------------ Houston Sports Board
By the way, unless you're talking about putting in one of those Big Box retailers or a Mega Supermarket, 10 acres is large enough for more than just a What-A-Burger or other fast food establishment (even with the two houses on the land). On one plot I know is about ten acres there is a convenience store/gas station (with automatic car wash), a manual car wash (a small one with four bays); a small strip mall with a restaurant, an ice cream shop and two or three other smallish retailers; a huge grocery store (that's actually closed now, but the building is still there), one of those self-serve water thingys, more than enough parking, and still more room for more stuff. And the lot is not crowded at all. A What-A-Burger or other fast food place would probably only take up a small portion of the available land even with parking. ------------------ Houston Sports Board
Well, I met with the owner again today. About the 10 acres --> it's VERY elongated, so he has a few hundred feet next to the highway and that's it. Behind that would be pretty worthless. Unfortunately, Gas Station is out of the question because the stipulation when the land was purchased was that the owner would not compete with the man who owned the land before, and currently owns the gas station on the corner. I'm tired, but we had a very productive meeting. I'll post more about it later. ------------------ "Up and down, inside out, outside in, some you lose some you win" -- DMB -> "Sweet Up and Down"
I see. I was thinking of a more square-ish plot of land. (And I wasn't suggesting a gas station, I was just noting that there is one on the ten-acre plot I was talking about). ------------------ Houston Sports Board
Yeah, that's probably what we're gonna recommend. My feeling is to wait 3 years, then re-examine the issue every year or two based on the growth of the area with a focus on restaurants. ------------------ "Up and down, inside out, outside in, some you lose some you win" -- DMB -> "Sweet Up and Down"
