Summary:
In this episode, Don Spafford shares how he went from corporate finance to investing in RV campgrounds and build-to-rent communities. He talks about creating passive income, scaling a real estate business, and finding unique opportunities for high returns. Don also dives into building a team and the importance of staying open to new ideas.
Takeaways:
- Focus on creating passive income streams and achieving financial freedom through real estate investing.
- Don't wait for the perfect deal; find something that is good enough to start with and take action.
- Build a network and find partners who complement your skills and share your goals.
- Be open to new opportunities and continuously learn and adapt in the real estate industry.
- Manage properties yourself initially to gain experience and understanding, but be open to outsourcing as you scale.
- Enjoy the process and find joy in talking to investors and sharing your knowledge and insights. RV campgrounds offer high cash flow and the potential for double-digit cash-on-cash returns.
- RV campgrounds have multiple income streams and can be scaled as a business.
- Proximity to popular camping areas can provide a steady user base for RV campgrounds.
- RV campgrounds can be a viable investment option for those who want to invest in something they enjoy.
- Finding great deals and diversifying investments in different types of properties and businesses is important.
Stay tuned for more episodes!
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