Just this week, I learned that putting a skyscraper into the air is slightly more attainable than I thought. If that isn't a crazy sentence I don't know what is. Hear me out...
I've always dreamed of putting a big building in the air... in a way I think we all have. It would be pretty cool right. Let me give you a glimpse into what I learned about this week while meeting a new mentor. What I am about to tell you would be considered a stepping stone to putting up the next luxury high rise condo development.
Every city has it's rough neighborhoods. I am sure you can think of a large, ugly, abandoned brick building within 20 minutes of wherever you live. Did you know that the city and state may get involved to help you renovate that building? Many cities will pay you money to acquire property and make it nice so you can keep it.... Think about that. It's a win/win situation. I was reading a city plan last week and they pinpointed specific properties and regions they wanted investors to work in. Wow.!
The demand for affordable housing is crazy in certain cities. And when I say affordable, I don't mean gross, rat infested buildings with carpet from 1985. I mean clean, comfortable apartments that only people with a certain income can qualify for. What a great way to earn some money while lending a hand to honest, hard working people on their way up!
I'm still learning more about how I can get one of these huge, ugly buildings so I'll keep you posted. But my new mentor renovated a 40+ unit building. Between the city, state and tax credits, he was given over $5 million to renovate this property. That's crazy!!!
He has 3 more large deals like this in the pipes. Once you get a couple of these under your belt you gain serious leverage and power, not to mention a boatload of new connections in your network. You will have a portfolio of large scale commercial projects that you can use and leverage to finance a bigger luxury building. My mind is blown... I'm going back to work so I can put a tower in the air.
I hope you found this inspiring and a little crazy... Dream BIG. No I mean BIGGER!!
Like, share, repost. :)