Here’s to a fantastic year ahead!

Wishing everyone a fantastic start to the New Year!

I’ve come to think of this period of my life as my real world MBA, and view my laundromat as a fantastic starter business.

It’s great to hear that you’re already working on a project to expand opportunities for real estate investors—that’s a fantastic way to immerse yourself in the field.As you dive deeper, here are a few things you’ll want to focus on to better understand how real estate investors analyze deals and make decisions:1.

Often times, there's houses or land worth $500k listed with an opening bid of $30k which is a fantastic deal; however, if you were to win the auction, there may be multiple liens and $100s of thousands of hidden fees that you have to pay at once (based on what I read online).

There are definitely some fantastic pocket markets throughout Upstate, and I typically advise staying somewhat local for your first project or two.

Podcasts like BiggerPockets are also fantastic for practical advice and inspiration.

Hey Colin, it’s fantastic to see someone your age diving right into the real estate world.. reminds me of when a buddy of mine bought his first duplex in Omaha.

The idea of “giving back” by providing the kind of experience you’ve appreciated as a traveler is such a fantastic approach and will definitely resonate with renters, especially healthcare professionals.Single-family homes and cabins sound like a perfect fit for what you’re envisioning.

For someone that's not as conservative, or a different view on the cycle, they might have a different opinion than me on all of this.2) Sponsor quality check: (takes about 45 minutes per deal)I believe that a great sponsor can take an average looking deal and make it great, and that in mediocre sponsor can take a fantastic looking deal and make it bad (especially if there is a severe recession).