You Don't Have To Wait

Do you wait, or innovate when it comes to real estate? 

 

Some people "wait", whether it's for residential or commercial. They wait for rates to drop, buildings to be constructed, and for their surroundings to show a trend. Waiting is not always the best solution. By the time rates drop, the "deals" out there now won't be there anymore. Even worse is when "someone else" beats you to it.

 

Your goal should be to have that "someone else" be you. The below linked article is another example of someone seeing something that is not currently there. To me, that's the first thing you need to do. See what others don't. The next thing is to research to find what it takes to make it happen. If your findings check the boxes they need to, add the resources you need, and do what it takes to make it happen.

 

The subject of the story below is about a proposal to demolish an old warehouse and construct a 60 room boutique hotel. There is nothing like this for miles of the chosen area. If and when this project happens, it means more work for architects, designers, contractors, brokers, and investors, just to name a few. However, there is an even more important element to this story. The town where this could happen currently has a population of less than 500 people. Even a 60 room hotel is going to need employees and staff. The area will need additional housing, restaurants, and other services. 

My hunch is that the "owner" did not want this story getting out there. He and his team could be involved with plans to own the town, in a matter of speaking. This plan did not depend on waiting on rates or watching market trends. It's about taking an idea and then seeing it through to the point of becoming feasible.

 

It starts with an idea, but it happens because of market research. Let's discuss your idea. What don't you see that is there?

 

https://www.cbsnews.com/sacramento/news/town-of-hood-riverfront-hotel-plans/