EP 589: Arrows to Acres: How to Fund Your Property Ownership Goals with Archery
This week was an exciting one for me as I had the pleasure of hosting a podcast episode with a very special guest, Jaden Bales. Jaden and I go way back, and he has been a mentee of mine for several years now. We always have interesting conversations, but this week’s discussion was particularly intriguing. Jaden approached me with a business idea he had been mulling over – starting an outdoor archery range. As an entrepreneur and business enthusiast, I was immediately intrigued.
As we delved deeper into Jaden’s idea, we began exploring the frameworks I use to assess the viability of a business concept. We discussed the various factors that need to be considered, such as market demand, competition, revenue potential, and more. It was an engaging conversation that shed light on the intricacies of evaluating a business idea from multiple angles.
However, as we continued our conversation, Jaden revealed that his true goal was not just about starting an archery range, but rather acquiring a sizable piece of property. This opened up a whole new dimension to our discussion. We started exploring the different ways Jaden could afford a chunk of property, specifically 40 acres of land outside of town.
This led us down a fascinating rabbit hole of brainstorming creative funding options. From traditional bank loans to crowdfunding campaigns, private investors to partnerships, we discussed the pros and cons of each approach. We also explored unconventional avenues, such as grants, sponsorships, and even bartering services or products to obtain the necessary funds. It was eye-opening to realize that there are multiple ways to finance a property purchase, and each option has its own unique set of considerations.
But our discussion didn’t stop there. We also explored ways to generate income from the property to help offset the costs. Jaden was particularly interested in finding ways to make the property cash flow, so it could essentially pay for itself over time. We discussed potential revenue streams, such as hosting events, offering archery lessons, renting out the space for other recreational activities, or even leveraging the land for agricultural purposes. It was fascinating to brainstorm creative ways to make the property financially sustainable.
By the end of our podcast episode, Jaden and I had covered a wide range of topics related to starting a business, acquiring property, and funding options. It was a thought-provoking conversation that provided valuable insights for anyone interested in buying property but unsure about how to finance it. I was thrilled to share my knowledge and experience with Jaden, and I hope our discussion inspires others to think creatively when it comes to realizing their business and property ownership dreams. If you’re interested in learning more, be sure to check out the podcast – it’s packed with practical tips and strategies that can help you navigate the complex world of property ownership and entrepreneurship.
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