Ep. 53: From Medical Offices to Multifamily with Dan Handford

Are you the general in your business or are you on the front lines engaged in battle? To oversee 11 business entities, five non-surgical orthopedic clinics, become a multifamily investor, and launch a new daily podcast with 60 episodes per month, Dan Handford had to adjust his role to become a true general. He shares how he manages his multiple businesses and what he seeks in the Charlotte MSA and South Carolina markets when opening a medical office, as well as investing in value-add apartments.

Key Market Insights

• Opened medical offices in South Carolina: Columbia, North Augusta, Greenville, Charleston, Fort Mills
• Specialty clinic being alternative to avoid surgery
• Target demos for medical clinics: focus on where the patients are, skewed a bit more older in the 45+ or 55+ range
• Target demos for B or C Class Multifamily: more millennial focused, 18-35
• Greenville and Charleston have a good mix of both
• Office is located near orthopedics, hospitals and older money
• Apartments closer to downtown and nightlife
• Went to a Mastermind Meetup in the Dominican Republic and discovered Grant Cardone; 10x Rule changed his mindset to set bigger goals
• Heard Tai Lopez speak and realized he needed to step away from his practice
• Has been able to delegate a lot of work and now runs 11 different entities
• South Carolina doesn’t have a primary market, with the closest being in Charlotte, NC
• Analyzed 7 different markets and top 3 were Orlando, Charlotte and Raleigh-Durham, before selecting Charlotte
• Fort Mill is fastest growing area in South Carolina due to proximity to Charlotte with better tax rates than North Carolina
• Average income is $45-$55k income in 3 mile radius around office, in Fort Mill, SC the average income is $105k
• Fort Mill is 25 minutes away from Charlotte
• Tega Cay is a strong wealth driver and lake community
• Charlotte ranked #1 for millennial population growth, rents up 6% last year
• Seeks apartments in Gastonia and along the path of Fort Mills to Charlotte
• Likes to schedule time on each task and focuses on the each business, just like a patient

Bull’s Eye Tips:

Winning Your Market: Be consistent Tracking Market Changes: Ask the target market, do focus groups Daily Habit: Morning coffee and conversations with his wife

Resources:

Dominican Tree House Village

Be Obsessed or Be Average by Grant Cardone

Best Business Books:

10x Rule by Grant Cardone

Digital Resources

Contactually.com

Tweet This:

“God put us here for a reason and we need to find out why”

“The general never goes to the front line because what happens if you lose the general?”

“Your networth is in your network”

Places to Grab a Bite:

Inakaya 

Del Frisco 

Connect with Dan:

Toughdecisions.net

Handfordcapital.com

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