Bought an acre lot with a beautiful view on Vintage Oaks. I want to do a flip. I'll have pre-approval this week.

https://texags.com/forums/59/topics/3280459

Thanks

Welcome.

I'm not so sure on the actual accounting possibilities of a flip in the custom home world. Especially right now with material prices. And then adding in prop taxes and HOA dues and permits and fees. But maybe you're DIY'ing some build stuff.

I just know that in VO, avg home + property values have prob gone north of 1M

From what I've seen The RFM $$$ is in custom homes as long as you don't build something weird. A buddy who built his house in Vintage Oaks last year just made $263k on his flip. I think I may have found the right builder.

Pretty solid. Errbody making money on the sales right now, but if you have a buddy who's done it - yeah, go for it.

Update: Think I'm going to sell the lot. Supply costs still to high and I'm too risk averse. If I'm wrong it could be a disaster. Chicken little

I don't think it is chicken little at all. You would be relying on a ton of things that have been true over the last 1-2 years to remain true until you had sold the house. It may have worked out, but I think you are right that it would be pretty risky.

JDCAG (NOT Colin) said:

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I don't think it is chicken little at all. You would be relying on a ton of things that have been true over the last 1-2 years to remain true until you had sold the house. It may have worked out, but I think you are right that it would be pretty risky.

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Thanks, I appreciate the feedback.

Last year I bought 2 adjacent lots in Vintage Oaks and am building a home there. Based on solid data, I already have $274,000 in total equity and it is rising every year. Now that being said, I bought these lots off-market and I got them for a solid price. I reached out to the owner and they told me they were actually going to put them on the market anyways, so it was very lucky timing for both of us.

As things have progressed over the last year with the market and building costs, I almost pulled the plug, too. This was because I could not afford for building costs to rise to an unknown number due to the escalation clauses that builders insert into the contract. However, I was able to work out a final contract with my builder to remove the escalation clause, even though many others told me that no builder would do that. He did. So right now interest rates are the only major variable left, but my building costs are locked in (unless I upgrade more).

I certainly think your concerns are valid. These things can go either way very quickly. My experience has been a roller-coaster. I started the building process last April and wanted it to be done this summer, and we have not even poured yet. It will be a two-year process from hiring the builder until the home is completed. That is a very long time and not everyone can do that. Go with your gut. There are so many factors and variables that go into this right now, it feels like on giant roulette wheel.

But Vintage Oaks feels extremely stable as an area in terms of demand. It is a beautiful area and they are building more and more out in New Braunfels. Veramendi will be be including more shopping and restaurants. Grand Endeavor (a builder out there) will be adding a 200-300 home development connected to Vintage Oaks. The area is just blowing up. I wish you the best of luck with your decision. It is very stressful, but one way or another I hope you come out on top!

Thank you so much for sharing your story and congrats on the equity, that is awesome! VO has a lot of amenities. We have another lot in Belle Oaks (Bulverde) where we plan to eventually build. The amenities at VO are larger/nicer than Belle Oaks.
Have you heard anything about some 1,000 acre development that's starting soon in NB? My boss told me about it yesterday.
Good luck with your construction.
I didn't select the Hazmat icon my mouse just jumped on me!! :-)

VO amenities were under built from the get go. They need a second huge pool complex, more tennis courts, more sport facilities, playgrounds etc. The current amenities are over crowded, and not being well kept IMO

Doesn't seem to be any impact on values, but I wouldn't want to be paying those HOA fees and watch the amenities go to heck

I know Veramendi is going to be large and Mayfair is around 1,888 acres that will be built over 15-20 years. I am very curious as to how they handle the traffic flow from the growth. The intersection of 46/281 used to be nothing to worry about 20 years ago and now I cannot get through there without waiting at the lights in traffic for a bit.

I have to disagree on the maintenance of the amenities. I have seen no major issues with the pools or restrooms or the grounds. I do not use the softball field, and the trails are nice. I have not been to the smaller pool or used the fitness center yet. Granted, I do not live in the neighborhood yet. I just visit it until the house gets done.

I do agree with you on the fact that they are under-built for this level of community. I would personally love to see a restaurant/bar in VO for property owners, much like River Crossing or Cordillera Ranch. Those communities were both on the table for me when hunting for a lot/house. I think VO should expand and add some more amenity options. Right now I am watching the new acreage being developed by Grand Endeavor that is adjacent to VO. They have not decided if they will merge with VO yet, and if they do then that is a lot of people that will start sharing amenities. I looked at Copper Ridge and liked the gate, but I thought those amenities were very underwhelming and my family loves the lazy river in VO.

I do love the little corner store they built a few months ago that is on one of the VO entrances. That happens to be my personal choice entrance when my house is done. I think it is nice, clean and the people are friendly. It will be good to make my adult beverage runs to that store instead of running to HEB every time.

Maybe things have changed, but the last time I was at the large pool complex with the lazy river….the HS age "employees" that were hired to run the place (check ID, clean up, etc) were not well trained. Or incentivized. Or gave a damn.

Trash everywhere. Trash cans full. Bathrooms not cleaned during the day.

I'm just saying. For a neighborhood where the avg home value is now over $1M…the amenities do not stand up in the market. Not even close IMO. Like you mentioned. No snacks at pool. No bar. No restaurant. Nothing to help generate more money to help upkeep and build future amenities

I agree with you on that, those high school kids were essentially on their phones the entire time. Never in my 40 years would I ever just be on my phone at a job the entire time. I've only been out there a handful of times but the restrooms were clean. I wonder if you might have been there after a party? Possibly, I'll keep an eye out for a pattern.

But yes, you're right about the level of things compared to the current market there now. I really got annoyed when I wanted a bar around 8:30pm there last summer and didn't want to drive too far, so it would've been great to have a closer bar. I still need to check out that winery across the street.

I never attend board meetings, but once I move out there maybe I will start doing so. I'd like to suggest some of these upgrades. But overall the experience has been fun for the family. I'll likely also spend lots of time at the actual river and lake.