How do you know if the area is a good place to develop a resort? What kind of skills does one need to be able to deveop a vacation resort?
What you mean like Disney Land?
Some what like that, but more for adults…like the kind of golf courses that Donald Trump builds.
Why replicate someone else’s success? It is much harder to copy than it is to be original. Are experienced in the Resort business?
I have no experience, but just set big goals. I would like to be able to do something different but somewhere along the line. So first I must learn how other people get there. Do you know how they get there?
You would be better off Joint venturing with a company that develops resorts. However, YOU will have to bring SOMETHING to the table. What do you have to offer besides wanting to do it?
Experience?
Money/Assets/Equity?
Would YOU lend millions of dollars to someone with no experience or money to build something like a large resort?
Come on.
No lender is going to give a newbie with no experience OR money ANY consideration to do something like that. It’s unrealistic.
If you are really serious, get on the internet, find a development company that specializes in resort development. Ask to speak to someone who deals with investor or business relations. They will tell you where to go from there.
What would you recommend to someone who doesn’t have much money and little experience? There is a chance you might say, “go find a job in that field of work”. And my respond to that is, “I have, but had little luck becuase the requirements to even get into the field is years of real estate experience.” Thus, I am back at square one. BUT I will not give up! I have thought about getting a mentor. So I placed an ad that pretty much says,“Wanted Mentor–one who desire to pass down his/her knowledge for good cause.” I don’t know if that was smart, but I want to let the universe knows what is my desire–to learn.
What would you advise me then?
What is the difference between a developer and a builder? I am confuse with all the different definition people are telling me.
wallacehobbs had this on another post and it is very fitting for your case
Think BIG
" I like thinking big. I always have. To me it is very simple: if you are going to be thinking anyway you might as well think big.
Most people think small because most people are afraid of success, afraid of making decisions, afraid of winning. That gives people like me a great advantage"
Quoted page 46 The Art of The Deal by: Donald Trump
Thank you Wallacehobbs and Donald Trump
If this is what you want to do DO IT!
Don’t let anyone stop you from your dream! And if you need help let me know also go to www.moneyshark.com and see if they can give you any lenders on this idea!
(Enter miserable comment from Dan732 here after that last post.)
No one is suggesting that you give up. No one became successful by giving up. However, you must be realistic. I mean, you don’t even know the difference between a “builder” and a “developer” but you want to develop resorts?
How about buying and rehabbing a HOUSE first?
It’s MUCH easier to find money for that or even a mentor.
Bottom line, start small and WORK your way up.
Even Donald Trump’s father made him start out rehabbing houses and small apartment buildings. But YOU–with no money, experience, assets or contacts in the industry— want to start out developing resorts ::).
Like the other post said, thinking big is good. Noble even. That is how we develop our dreams. However, NOT being realistic is a good way to ending your pursuit of your dreams before you even get started.
I know it’s harsh, but you seem to need a wake up call.
Here is my miserable comment-
I say you have to network first. Developing something big just doesn’t fall together. You going to need to know some people. First off you need some sugar dadies, people with money, and lots of it. You need a vision and marketing skills to sell it. You have to be good at this. If you can’t sell the vision, your toast.
Donald Trump already had these connections through his Dad, nothing wrong with that, just pointing that out (so people won’t jump on me and call be a Donald basher). He had connections that could take a lifetime to develop at a youthful age of 25. He had a golden oportunity and ran with it, and he did good.
As BLWS pointed out, Donald did smaller projects before he built the Taj Mahal. The Taj wasn’t his first project. (he did file Bankruptcy protection on that project)
I have a pretty good friend in this area and the bottomline is you need to be WELL-CONNECTED with very wealth people. I am talking folks with $50 or $100M in the bank (or more).
Saying you want to start your RE investment in resort development is like saying some kid playing in the dirt lot say he planning on play in the SuperBowl next year.
Start slow and easy…buy one property and see if you can make some money.
Didint everybody tell Walt Disney that it couldent be done? How about Henry Ford? Stranger things have been done!! JUST DO IT! do you think for one second that when I told my family I would own 75 houses by 30 they thought I would with no credit and no money? It can be done! Why not go for some venture capital I know people that would invest 10mil. if the Business plan looked good! Why not?