Kevin Swenson shares his story of buying a $3m real estate appraisal firm as a platform to roll up the fragmented space.
Topics from Kevin's interview:
- Why the real estate appraisal industry?
- How to add value as the entrepreneur doing a roll-up
- Roll-up dynamics
- Appraisal businesses vs. appraisal management companies
- Story of his acquisition, the platform business
- The "Your Sure Thing" philosophy
- Buying in an industry where you DON'T have experience
- The nature of real estate service businesses
- How to mitigate risk when buying a real estate service business
- Acquisition opportunities in real estate services beyond appraisal
- How it's going since the real estate market slowed
- Pivoting a roll-up strategy to react to the market
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