Working conversation pack · 2026-09-10

Waller ~32 acres — three sale scenarios

26086 El Indio Rd / Reids Prairie · Planning numbers for Ken & Lisa — not a contract or appraisal.

Side-by-side

Ken’s current favorite to talk through is Scenario 3 (plat + four ~8-ac sales). Scenarios 1 and 2 stay on the table for comparison.

ScenarioGross (plan)Prep / workCountyCash timingNotes
1 · Whole packageList $1.4MM / bring-in ~$1.2MM≤$35k prepNone (no plat)List 3/15/2027 → hope summer 2027 closeOne deal, no county plat; runway risk until close
2 · One 10+ first$450k OF then ~$800k house+22Survey / lightAim >10 exemptPrefer 10+ in 2026; remainder 2027Earlier cash; then house+22 lump
3 · Four ~8s ★$1.8MM stack (400/500/450/450)Full plat + 4 salesFull plat required2026 SE OF → 2027 house lump → 2028 SW OF → 2029 north OFFavorite: staged cash + streams through 2033

Scenario 1 — Sell the whole package as one deal

No plat One sale of both parcels (~32.15 ac + house/improvements).

Money

Pros

  1. One transaction
  2. No county subdivision hoops
  3. Big lump sum at one close

Cons / risks

  1. Must be show-ready (prep + Lisa/dogs in NY) before listing
  2. Runway: bridge personally to ~July 2027; hoped close is the same summer window — NY home may pull Roth first
  3. All gain recognized in the sale tax year (likely 2027 under this calendar)
  4. May clear under list (~$1.2MM planning)

Steps

  1. Lisa + dogs to NY (go-ahead already given)
  2. ≤$35k prep
  3. List 3/15/2027 (FSBO default)
  4. Close summer 2027 → payoff ~$72k → net wire

Scenario 2 — Sell one 10+ acre tract first, then house + ~22

Light county path Prefer all lots >10 acres / no new public streets (confirm with County Engineer).

Phase 1 — 10+ acres (prefer close in 2026)

Phase 2 — House + ~22 acres in 2027

Pros

Cons / risks

Scenario 3 ★ — Four ~8-acre hybrid CURRENT FAVORITE

Ken’s aha: the subdivision/plat rigamarole is worth it — staged cash + multi-year income beat “no hoops.”

Sell-down

YearTractHowPlanning price
2026South-east ~8 (empty)Owner-finance$400,000
2027Mid ~8 with houseLump-sum (broker unless perfect buyer)$500,000
2028South-west ~8 with trailer (conveys; light cleanup)Owner-finance$450,000
2029North ~8 (last)Owner-finance$450,000
Stack$1,800,000

House ask is conservative on purpose (~$35k/ac land + ~$200k house ≈ $480k → list $500k). On OF we can ask a bit more and thicken the down. Cash buyout welcome on any tract.

OF card (working)

25% down · 5-year amort · 8.1% (same shape as other land OF planning).

CloseCash at closeP&INote years
2026 SE $400k$100,000~$6,097/mo2026–2030
2027 house $500k$500,000 lump
2028 SW $450k$112,500~$6,859/mo2028–2032
2029 north $450k$112,500~$6,859/mo2029–2033

Year-by-year income (planning, pre-tax)

YearCash eventsApprox note P&IMeaning
2026SE down $100k~$73kFirst liquidity + stream
2027House lump $500k~$73kBig NY / reset year
2028SW down $112.5k~$155kTwo notes
2029North down $112.5k~$238kPeak starts
2030~$238kPeak
2031–32~$165kTwo notes
2033~$82kLast note year

Overlapping notes cover 2026–2033 (eight calendar years).

County / process hoops

  1. Full Waller County plat (lots ~8 ac — no >10 exemption)
  2. Survey + four legal descriptions; private driveways (no new public streets)
  3. Plat clock vs 2026 SE close — critical path
  4. Both spouses / title on plat and every closing
  5. Mortgage ~$72k — partial releases as pieces sell
  6. OF stack ×3 (RMLO + title): 2026 / 2028 / 2029
  7. 2028 trailer conveys with land — cleanup + MH disclosure/title
  8. 2027 house still needs ≤$35k prep + Lisa/dogs out

Risks

  1. Four closes — 2026 SE OF is the first runway domino
  2. $1.8MM / rising-price path is an assumption
  3. OF default/prepay hits the living stream
  4. Holding costs on unsold tracts through 2029
  5. More moving parts than S1/S2
  6. Multi-year tax shape; basis split across four tracts
  7. If plat slips, 2026 liquidity fails

Lisa / Ken labor

Scenario 3 map sketch

Not a survey. North ~8 · Mid ~8 (house) · SW ~8 (trailer) · SE ~8.

Hybrid 8-acre carve

Scenario 3 — Legwork deep dive (sequence)

S3 is the problem child vs S1/S2. Do the work in this order. Full write-up: waller-scenario3-legwork-sequence-2026-09-10.md.

Critical path

  1. Parallel now: County plat kickoff → Surveyor → Mortgage release plan → RMLO+title → Lisa/dogs NY calendar
  2. Then: Survey complete → File & record plat (hard gate for all deeded sales)
  3. 2026: Close SE OF (~$400k) — first down + first note
  4. 2027: ≤$35k prep → broker → close house lump (~$500k)
  5. 2028–29: Trailer cleanup → SW OF → north OF
  6. Ongoing: Cash dashboard · basis split · holding costs

Do not deed/OF the four lots as separate tracts until the plat is recorded.

Why S1/S2 are less work

Scenario 1Scenario 2Scenario 3
PlatNonePossible >10 exemptFull plat
Sales124
OF packages013
Lien releases1 payoff1–2Up to 4

Card sequence (board order)

SeqCardPhaseNotes
1S3-01 County plat kickoffAStart county clock
2S3-02 SurveyorAFeeds plat drawings
3S3-04 Mortgage releasesAParallel; needed before SE close
4S3-05 RMLO + titleAParallel; needed before SE close
5S3-07 Lisa + dogs NYALisa-owned; unblocks prep
6S3-03 Plat → recordBHard gate
7S3-06 Close SE 2026 OFCFirst liquidity
8S3-08 ≤$35k prepDAfter dogs-out
9S3-09 Broker houseD
10S3-10 Close 2027 houseD
11S3-11 Trailer cleanupEConveys with SW
12S3-12 Close 2028 SW OFE
13S3-13 Close 2029 north OFEStreams into 2033
S3-14/15/16 Dashboard · basis · holdingFStart early; update often

First sprint: 01 → 02 → 07 → 08 (scope only) → 04 → 05 → then 03 (plat to record).

Scenario 3 — cards in sequence

Same cards as before, renumbered into execution order (not just P0/P1 piles).

Seq 1–5 · Start now

  1. County plat kickoff
  2. Surveyor
  3. Mortgage releases
  4. RMLO + title
  5. Lisa + dogs calendar

Seq 6–10 · Plat → 2027

  1. Record plat (gate)
  2. Close SE 2026 OF
  3. ≤$35k prep
  4. Broker house
  5. Close 2027 house lump

Seq 11–13 · 2028–29

  1. Trailer cleanup
  2. Close SW OF
  3. Close north OF

Ongoing: dashboard · basis · holding