We love a capitalistic society because it gives opportunities for individuals to look at a problem and see a solution. The relocation of wealth that began with the onset of the pandemic continues today. We are referring to people moving from more stifling economic and personal conditions to areas of the country where there are different and potentially better outlooks. Wealthy or not, we continue to see people moving from states with tighter controls and urban sprawl to areas of less government control and more open space.
Some real estate developers are striking while the momentum is hot and are developing larger communities where people of means can enjoy not only more natural open space but more upscale amenities. Such attention to living well, yet surrounded by more natural landscapes can be referred to as naturehood. An example of one such naturehood can be found in Utah among the mountains where homes start at about 1.4 million USD and are positioned on large tracts of land with tremendous natural beauty, yet close to a blend of amazing amenities normally found only in high-end urban settings or the country wild. We are talking about hiking trails, horse trails, archery, and more. Some may also refer to these communities as sustainable communities.
So why should you care? What we believe is worth noting for most real estate operators is that with a competitive environment or conversely a slow environment, consider looking at the problems in housing and what can be done to address the challenges. In this case, wealthy people fleeing more established areas still want a unique place and tons of amenities. These same people often want to identify with sustainable and natural alternatives and hence, the naturehood is a great idea. However, we submit that there are similar opportunities or problems waiting to be addressed for people of all income ranges because everyone needs housing.
Consider what the problems are within the housing market for the area you are pursuing. Then, start asking other people what are solutions that may address the challenges. The answers are there. Just like the naturehood concept, there are often different ways to solve a problem. And there are a lot of problems in the real estate market waiting for you to solve them. We didn’t say it would be easy, but it could be worth it! And if it were easy, then everybody would do it. All we are saying, is that if your current approach to business is slowing, look toward growing problems and therein, could be a growing business opportunity. For more ideas and direction, you may also want to tune into Property Review, a new show coming out on the Bargain House Network in September, 2022, where viewers can call in and ask experts about what they might do with a specific real estate deal or situation. Neither they nor we are offering tax, financial, accounting, investment, nor legal advice but it still could prove useful to hear from a proven operator. Then again, you might surprise yourself. If you do, let us know.