I joined BP because a couple of friends that have invested in real-estate are telling me that I'm sitting on a gold mine. I purchased a 10-acre, riverside farm with a 1921 farmhouse (1 bath, 4 bedroom) off-market from a family friend. I thought the appraisal was low and I was getting a good deal, so we bought it. The property had an established, cash-flowing wedding venue already on it. I need help planning out my next moves to make the most of this "gold mine".
I joined BP because a couple of friends that have invested in real-estate are telling me that I'm sitting on a gold mine. I purchased a 10-acre, riverside farm with a 1921 farmhouse (1 bath, 4 bedroom) off-market from a family friend. I thought the appraisal was low and I was getting a good deal, so we bought it. The property had an established, cash-flowing wedding venue already on it. I need help planning out my next moves to make the most of this "gold mine".
Hey @Caleb Wise, welcome to the BP Forum! Are you looking to build any properties on the site or expand the wedding venue operations, or both?
Hi @Jaycee Greene thanks for the response! We've been slowly improving the wedding venue, raised the prices, and we'd be happy to stay at the size we are for now. It's just a side hustle for us right now. We have one ADU that we're fixing up and could be a nice upcharge for wedding parties to rent on the day before or day of their wedding. We're also thinking of adding a honeymoon suite cabin on the property that could be a good STR during our off-season.