Spofford said the move makes sense for the real estate investment business given the strength of the Miami property market. In March this year, Miami real estate had its third-highest sales month in history with surging interest in the area’s high-end condos with condo transactions surging for the 18th consecutive month.
Eric Spofford, head of Spofford Enterprises, said that strong demand and a lack of supply was creating the perfect Miami marketplace and it made sense for his company to move closer to taking advantage of the market forces. Spofford already has offices in Salem, New Hampshire.
Despite the threat of a potential US recession, Spofford is investing heavily in his real estate business and his team, and he’s also structuring his own portfolio to be recession-resistant.
Spofford founded Spofford Enterprises, which specializes in real estate development, acquisition, and investment. They currently manage a mid 9 figure mixed portfolio of multi-family and commercial properties. Spofford Enterprises also takes on venture capital investments and offers coaching services for entrepreneurs on how to scale their businesses.
Recession-beating business model
Spofford and his team seem unfazed by the potential US recession, saying people who create value create wealth. He says, "As we head into a recession, the real operators are about to be accelerated, while the rest will be left behind."
And with a new base in the thriving Miami market, Spofford has no intention of being left behind.
Spofford emphasizes the importance of prioritizing the essentials during a recession. Spofford Enterprises will be focused on areas of real estate that won't be heavily affected by a recession, such as healthcare, academia, multifamily residential, etc. These things are indispensable, and people will always need healthcare services, education, and a place to live.
Real estate has been hot, but now the game is changing. We are facing a recession - what do you do? There are only 2 ways that matter in real estate: the day you buy and the day you sell. Eric says, “Don’t let emotions dictate your decisions. Operate out of studied history, facts, and data.”
About Spofford Enterprises
Spofford Enterprises is an entrepreneurial investment firm specializing in real estate, venture capital, and coaching for entrepreneurs. They have offices in Salem, New Hampshire and Miami, Florida.
Name: Eric Spofford
Company: Spofford Enterprises
SOURCE: Spofford Enterprises