Love your content Sean. I am from the Capital Region, New York (Albany, Schenectady, Troy) and I have family who lives in South Uptown, Minnesota. I love your area I think it is super underrated. My dreamland is the Capital Region, NY and I am working to become a RE developer like yourself.
Thanks Erik! I will touch more on the specifics in a future newsletter, but the best way is to just spend time there. Walk/drive the streets, note what you see. Note what changes over time and why. Research home prices and rents. Why is one street getting higher rents than the street one over? Learn the nuances of the dreamland.
Good piece this morning and very thought provoking Sean. Especially liked "remember, the neighborhood IS the amenity."
Just closed on land to build our first multifamily project in Northern AZ.
Also looking to buy a sauna and you recommended Sisu in a recent tweet and you mentioned a discount. If you are an ambassador can you share that discount information. Thank you.
I quit my last job and had saved up some money to support my first 6 months or so...but I also started doing consulting almost immediately for anyone in real estate that needed a hand.
It was pretty tough the first couple of years to make ends meet until I got this and a few other projects built.
Sean, I found this piece well-written, thought-provoking, and enticing. I'm not sure if I have a dreamland, and I wonder what it takes to find one. If you had to choose a dreamland in a different state, where would you go? What would you look for?
I think a Dreamland is one of two things - an area that you know very, very well, or an area that you'd like to get to know. Then you study it by spending time in it and observing.
If I had to find a new Dreamland (which I might soon!) I'd look for a market with a growing population, pro-development policies, limited or no parking requirements and walkable neighborhoods. That's what would work for me. What might work for you might be different!
I live in a small mountain town, popular with retirees and telecommuters. Lots of people who have made money elsewhere and now want to do “small” development projects. My gut says the “blue ocean” is in larger projects where there isn’t as much competition. We also have a hard time finding builders who can operate at scale though. Keep writing!
Thanks Kenneth! Smaller deals are tough - but they can work. But like many, I've evolved into doing larger projects. My current project is 204-units ($45 million).
Aspiring developer. Me and my wife's Dreamland is in South Harlem in NYC. Absolutely love the brownstones from 110th Street (Central Park North) to 125th Street between Frederick Douglass Blvd and 5th Avenue. The dream is to buy and renovate a brownstone to Passive House standard and live in one of the units.
Naturally, I do my due diligence on anything I am drawn to. I want to explore all options available to me just in case I want to pursue something later in my life, I want to already be in the know about it. Previously in my career journey through the Construction Industry, my bosses repeatedly told me; "Kristin, you are on a "need to know" basis. Right now, you don't need to know this information. Stay in your lane!" This infuriated me because I function best when I have the full picture, when I know the why. Anyway, I have many passions. Construction is just one of them. I have finally realized that it is best to work for the Owner, not the Contractor. This way I know the full picture. :)
Love the Dreamland! This is such a great concept. Adding understanding my Dreamland plots to the arsenal.
Good luck!
Love your content Sean. I am from the Capital Region, New York (Albany, Schenectady, Troy) and I have family who lives in South Uptown, Minnesota. I love your area I think it is super underrated. My dreamland is the Capital Region, NY and I am working to become a RE developer like yourself.
Love it Anthony! Thanks for the reply. Good luck!
Love it, appreciate my small eclectic mix of single family rentals. The two I lived first the most.
Great strategy on gathering intel. Know the market to be able to act the fastest.
How do you gather that information in your dreamland?
Thanks Erik! I will touch more on the specifics in a future newsletter, but the best way is to just spend time there. Walk/drive the streets, note what you see. Note what changes over time and why. Research home prices and rents. Why is one street getting higher rents than the street one over? Learn the nuances of the dreamland.
Good piece this morning and very thought provoking Sean. Especially liked "remember, the neighborhood IS the amenity."
Just closed on land to build our first multifamily project in Northern AZ.
Also looking to buy a sauna and you recommended Sisu in a recent tweet and you mentioned a discount. If you are an ambassador can you share that discount information. Thank you.
Jonathan,
Thanks for the note! Here’s the link to SISU. Use code SWEENEY at checkout if you want the discount!
http://sisulifestyle.com/SWEENEY
When you were looking for your first project, were you working elsewhere for basic income?
Hey Kenny...
I quit my last job and had saved up some money to support my first 6 months or so...but I also started doing consulting almost immediately for anyone in real estate that needed a hand.
It was pretty tough the first couple of years to make ends meet until I got this and a few other projects built.
Sean, I found this piece well-written, thought-provoking, and enticing. I'm not sure if I have a dreamland, and I wonder what it takes to find one. If you had to choose a dreamland in a different state, where would you go? What would you look for?
Thank you Barry!
I think a Dreamland is one of two things - an area that you know very, very well, or an area that you'd like to get to know. Then you study it by spending time in it and observing.
If I had to find a new Dreamland (which I might soon!) I'd look for a market with a growing population, pro-development policies, limited or no parking requirements and walkable neighborhoods. That's what would work for me. What might work for you might be different!
I live in a small mountain town, popular with retirees and telecommuters. Lots of people who have made money elsewhere and now want to do “small” development projects. My gut says the “blue ocean” is in larger projects where there isn’t as much competition. We also have a hard time finding builders who can operate at scale though. Keep writing!
Thanks Kenneth! Smaller deals are tough - but they can work. But like many, I've evolved into doing larger projects. My current project is 204-units ($45 million).
Sean,
Enjoyed the write up . I like the idea of a wonderland , it makes me think. I
Iove what your doing, and as a fellow Twin cities dweller it is much appreciated.
JG
JG - Thanks for the comment! Appreciate the kind words.
Aspiring developer. Me and my wife's Dreamland is in South Harlem in NYC. Absolutely love the brownstones from 110th Street (Central Park North) to 125th Street between Frederick Douglass Blvd and 5th Avenue. The dream is to buy and renovate a brownstone to Passive House standard and live in one of the units.
Love it Noah! Very cool idea.
Naturally, I do my due diligence on anything I am drawn to. I want to explore all options available to me just in case I want to pursue something later in my life, I want to already be in the know about it. Previously in my career journey through the Construction Industry, my bosses repeatedly told me; "Kristin, you are on a "need to know" basis. Right now, you don't need to know this information. Stay in your lane!" This infuriated me because I function best when I have the full picture, when I know the why. Anyway, I have many passions. Construction is just one of them. I have finally realized that it is best to work for the Owner, not the Contractor. This way I know the full picture. :)