John Franklin (https://twitter.com/JohnIsBuilding) & Mateo Lopez talk with Andrea Savard (https://www.instagram.com/asavard_firepower/) – a Two-Brain Business mentor and the co-owner of Reebok CrossFit FirePower – where she shares the ups & downs, and twists & turns of using real estate as a financial lever.
How Andrea got started in real estate (1:18)
The economics of buying a large gym (6:20)
What Andrea wouldn't do when buying a gym (11:33)
Top- and bottom-line for the gym (16:59)
The beginning of Andrea's 7-year nightmare (18:02)
How much goes into finding a sufficient property to buy (23:43)
What happens when a deal falls through (25:53)
Finding money again for a new building (30:46)
I bought a space right when the pandemic hit. Now what? (34:11)
What if we bought a farm and moved our gym to a rural setting? (42:46)
Selling yet again. The gym still needs a home… (46:19)
Real estate strategies from a real estate veteran (50:19)
Advice for gym owners wanting to get into real estate (56:13)
The importance of starting small (59:05)
The one thing gym owners should never do (1:02:17)
