Aspiring small Lux Resort developer pls help

[Mark A Chandler]

Newbie to Bigger Pockets,

Powerfully motivated young entrepreneur though!

My name's Mark! Seems very nice to be here amongst my fellow entrepreneur! I'm from Houston and been a real estate license holder since I was 20.. had a good go but had a lot of life stuff going on and hard lessons learned! For one, you have to watch the back of the house and the women/people in your life as well as habbits. Not to mention going in without a mentor.. but I'm Ready to get back at it!

My life purpose as Ive seen it for the last year's goes into 3 goals I wake up every day and brush my teeth to!: 1. Wake up every day, work towards my God diligently but be happy and live my life to the fullest. 2.build my family's future castle water luxary resort. 3. Build or sponsor a charitable cause to make a difference along the way. As for the BP part, yes! I will build a badass family castle Bohemian Resort like some of my relatives did in Scotland. I have my doubters but everyone I know believes in me by now and I know I can do it! As for timing, I used to shoot for the next 10 years.. but After doing a lot of research on the best way to do that and the current market cycle; I realized I'd have to get smart and focus. I found the best way to help make my family money for future generations and be set for the rest of my life, was to have it built when the economy is hopefully picking up in 5-10 years. Sounds wild I know, but trust me I've been committed to achieving it with all my resources for years and been studying my *** off. Fully committed to the industry and the future! :) Finally ready to start taking the best steps I can and understanding what I don't know first, so I would some professional advice if anyone who has some resort or hotel developing owning or investing perspectives on the best way to get there.. tough to not make that a run on sentence haha. Here's my plan as it goes:

1: master finding the best deals on the market and start wholesaling..

2. Eventually start BRRRR strategy in the coming year to take advantage of the current market cycle and impending recession with leverage..-

3 leverage my cash flow and assets if needed to get the best mentor and help with great deals, in multi-family perhaps commercial?

-hold onto and appreciate those properties for a few years flip them 1031 perhaps..

-all the while studying resort developing location, best staffing and the such 5 star resorts might do-. Develop a kick *** business plan for investors to make it all happen.

4. Throw my skin in the game with my plan after meticulously working all the details.. labor contracts permits and the such when the time is right!

5. Buy out my investors in some years then keep it for the family- maybe move on to another elite resort if I feel up to it!

As for the plan itself... I would like to build a castle with a modern twist, designed in mind for maybe 30+(eventually more) luxury rental units, by the water, great ammenities such as a farm to table restaurant which caters to the resort and cabanas, would like to make it more profitable faster by saving on construction by utilizing my network of friends and pros, long lasting green artistic construction, with attracting the highest paying exclusive guests in mind. I know prime location and seclusion will be important. My great uncle in Scotland built the same thing with his bare hands and four sons.. of course I'm not quite going that route but sure am inspired! After working at a resort and country club over a year, I learned a couple other things about how I'd want to style the castle. Self sustainable as much as possible is of monumental importance, but doing what we need to keep comfortable our guests year round. Entertainment, food, ammenities and lodgings would provide the bulk of the revenue. Very excited how it could help our community, investors, my family, employees and the charitable organization I support along the way!

My father before he passed last year did insurance near all my life- but did real estate when I was a young kid. He was never a mentor for real estate really for me, except as an inspiration when he did fix and flips and worked as an agent in Detroit around age 10.. the president of my first brokerage added considerably valuable insight into my career as a mentor figure, as well as many a mentor on YouTube.. but I honestly don't have any real estate figures in my life that could look over my plan with any insight I feel like. And so here I come to ask of y'all for a little insight and guidance! :). You don't know what you don't know.. a valuable lesson I have spent my life learning! So any solid wisdom will be very welcome and appreciated, thank you in advance. Promise to empty my cup and take it all into consideration. I've spent the last 6 months studying the best way to maximize profits on rentals and grow wealth- and read several books and seen siminars on the power of multi family investment and the tax free custodian stuff.. most all of it sounds easier than it can be I know. Haven't paid the thousands yet x). That wraps me up for now I guess. Bless y'all in these uncertain times I hope everyone is good with he covid and economic collapse.. at least we are still in real estate!

ps. if you made it through all that, you are badass and an 👼