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Four years ago, two young entrepreneurs from France began scouring the Texas Hill Country, looking to buy land and hotels for a new venture. A few months into their search, business partners Franklin Dusserre and Dylan Petrich had talked to dozens of real estate agents and toured more than 120 properties in Blanco, Johnson City, Wimberley, and other small towns with growing tourist presences. Word was getting out that a couple of guys definitely not from Texas were in the market. “They were a bit confused by us,” Petrich says. “We didn’t dress like we were from Texas. We didn’t have boots yet. And we spoke French.”During a tour of a ranch on the Pedernales River near Johnson City, a broker—a Texan wearing Wranglers and boots,…

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