It sounds as if you talking about the Lago Vista area, projected growth is high value in 10-20 years. Not exactly get rich soon much less quick. I have rental property there (my mom and step-dad occupy one of the units since they wanted to retire there). In general I find the Austin metro area to be a good investment real estate wise, although I live in the SouthEast Texas area. As a licensed Real Estate Broker in Texas, I would like to share a basic rule of thumb. Raw land is a bad investment... unless there is some form of income (Farm or Hunting lease fees, timber, etc.) There are many risks however to a parcel just sitting there. Taxes number one, a shift in growth pattern could leave your well intended investment in the dust (It happens), Governmental restrictions or enviromental regulation changes, zoning law changes, etc. Another very real one is: ADVERSE POSSESION, a situation of real property being legally "stolen". This usually happens to out of state owners. Either look it up or ask a Real Estate attorney what it could mean to you. I'm not an attorney, so by law I can't give legal advice as a broker. I think you would do much better investing "right under your feet" in Florida (Not exactly a slum state). This way you can keep an eye on your property and be informed of any potential changes that may increase value or adversely affect your holdings. Also, when it's time to come back to the promised land :) You won't have as much reservations of selling any real estate holdings you may have acquired in Florida.Best of Luck,Txbroker :)
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