David Invest
Welcome to David Invest, your AI-inspired real estate investing podcast. We explore a range of real estate investments, from multifamily assets to mixed-use properties.
David Davidenko, Co-Founder and Managing Partner of Sunrise Capital Group's portfolio boasts over 7,000 units and a staggering value of $600MM. At David Invest AI, you'll unlock the secrets behind these successful strategies and observe how AI transforms our interaction with real estate content.
We're not just another finance podcast. We're an innovative platform that combines technology and investment, breaking away from the conventional to create an intriguing learning journey.
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Disclaimer: The content provided on this channel is intended for educational and informational purposes only and does not constitute investment, financial, or tax advice. We strongly recommend that you consult with qualified professionals before making any financial decisions. Past performance of investments is not indicative of future results. The information presented here is not a solicitation or offer to buy or sell any securities or investments. Our firm may have conflicts of interest, and we do not guarantee the accuracy or timeliness of the content provided. Investing involves risks, and you should carefully consider your financial situation and consult with a financial advisor.
David Invest
Reviving Ghost Towns: Unleashing Potential and Crafting New Legacies in Historic Locales
Ever dreamed of owning your own slice of history? Discover the untapped potential hidden within ghost towns waiting for a new lease on life. This episode promises to enlighten you on the unique opportunity of purchasing and preserving these forgotten locales. Picture yourself amidst the Colorado mountains near Telluride, where stories of mining claims linger, or on a sprawling 62-acre plot in the California desert, offering both solitude and questions about hidden opportunities. Venture to Arizona, where a fully restored museum could become your home, balancing the intricacies of living spaces with historical preservation. From a Wild West experience in bustling Silverton, Colorado, to the peaceful charm of an Arizona Desert Paradise bed and breakfast, we explore a myriad of possibilities for historical treasures and business ventures.
As we guide you through these intriguing prospects, imagine the legacy you might create in these ghost towns. This episode invites you to harness your creativity to breathe life back into these once-bustling communities. Whether you're driven by a passion for history, eager to construct something new, or looking to foster a vibrant community, ghost towns provide a blank canvas for your aspirations. Reflect on the stories you could tell and the new chapters you could write in these unique locations. Join us in pondering the endless possibilities these ghost towns hold for inspired trailblazers like you.
🔗 Check out our website for more information and valuable resources: https://linkin.bio/davidinvest
📸 Follow us on Instagram for updates and behind-the-scenes content: https://www.instagram.com/davidinvestai/
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📧 Subscribe to our newsletter for exclusive investment tips and insights: https://sunrisecapitalgroup.com/subscribe/
📚 Check out my course on Udemy - https://www.udemy.com/course/passive-real-estate-investing/
Disclaimer: The content provided on this channel is intended for educational and informational purposes only and does not constitute investment, financial, or tax advice. We strongly recommend that you consult with qualified professionals before making any financial decisions. Past performance of investments is not indicative of future results. The information presented here is not a solicitation or offer to buy or sell any securities or investments. Our firm may have conflicts of interest, and we do not guarantee the accuracy or timeliness of the content provided. Investing involves risks, and you should carefully consid...
Okay. So you know, sometimes you just have these like totally out there fantasies Like what if I just like bought a whole town?
Speaker 2:Uh-huh yeah.
Speaker 1:Well, you sent us this article about ghost towns for sale and honestly, it got us thinking could this be like a real thing?
Speaker 2:And that's what we're diving into today.
Speaker 1:Exactly, and we know you like to cut to the chase, so we've gone through and picked out some of the most interesting ones.
Speaker 2:But before we get into the specifics, what even makes a ghost town a ghost town?
Speaker 1:Yeah, is it just like empty buildings and tumbleweeds?
Speaker 2:Well, it's definitely got to be mostly deserted right Like a serious drop in people living there, usually because of some kind of economic downturn.
Speaker 1:It's like a gold rush that went bust or something.
Speaker 2:Exactly, or maybe the railroad moved or even a natural disaster changed the whole landscape.
Speaker 1:Wow. So it's not just about empty buildings, it's like the history behind why it's empty.
Speaker 2:Exactly. It's like layers of stories just waiting to be uncovered.
Speaker 1:Okay, well, speaking of stories, let's jump into our first ghost town.
Speaker 2:Yeah.
Speaker 1:This one is in Colorado. It's called a Colorado Mountain Haven.
Speaker 2:Ooh, yeah and get this. It's right near Telluride. Ah, telluride, famous for those incredible views and its silver mining history.
Speaker 1:Oh, so there's like a connection there with this ghost town.
Speaker 2:You bet there's definitely potential with that kind of history in the area For sure.
Speaker 1:The article mentions 305 acres and 31 mining claims.
Speaker 2:That's a lot of land.
Speaker 1:Right. And when they say mining claims, I mean we're talking like silver mines, gold mines. What's hiding under there?
Speaker 2:That's the million dollar question, isn't it?
Speaker 1:Literally maybe.
Speaker 2:Imagine those claims are connected to Telluride's silver boom. You wouldn't just be buying land, you'd be buying a piece of history and potentially a lot of value.
Speaker 1:Okay, so from the mountains of Colorado.
Speaker 2:Let's go to the complete opposite, the California desert.
Speaker 1:Oh wow, Quite a change Right. This one is a 62 acre plot accessible only by four wheel drive. They're calling it ultimate solitude.
Speaker 2:Wow, that sounds pretty off the grid.
Speaker 1:Totally. The article even says it's for those seeking a disconnect from modern life.
Speaker 2:That's definitely appealing to some, but you got to think about the practical stuff too.
Speaker 1:Like what.
Speaker 2:Water, electricity how do you even get groceries out there? What about if you need a doctor? You're pretty much on your own.
Speaker 1:Yeah, that's a good point. And then there's this part about permits for mineral production and processing.
Speaker 2:Interesting. Could be a hidden gold mine there. No pun intended.
Speaker 1:Okay, maybe a little pun intended, but seriously, what does that even mean? Does that mean there's, like valuable stuff under the sand?
Speaker 2:Definitely worth looking into. We'd need to know what minerals are there, how much they're worth and, of course, what the environmental impact would be if you started digging them up.
Speaker 1:Right, because owning a ghost town comes with responsibilities too. Absolutely Okay. So on to ghost town number three. This one is in Arizona and it's called a historic gem.
Speaker 2:Ooh, I love a good historical gem.
Speaker 1:This one is really cool. It's a fully restored museum.
Speaker 2:A museum.
Speaker 1:Yeah, but wait for it, you can live in it.
Speaker 2:Wait, you can actually live in the museum.
Speaker 1:Yeah, the whole thing is yours.
Speaker 2:That's wild, and it's on the National Register of Historic Places.
Speaker 1:It is, so we know it's a legit piece of American history.
Speaker 2:No doubt about it. But living in a museum, I'd have so many questions.
Speaker 1:Right Like can you even change the paint color? Are there rules about renovations?
Speaker 2:For sure You'd have to be super careful to preserve the historical stuff.
Speaker 1:OK, so it's not just about like getting a cool place to live. It's about being responsible for a historical treasure like getting a cool place to live.
Speaker 2:It's about being responsible for a historical treasure. Right, and think about the location. This one is near the Dragoon Mountains and Cochise Stronghold.
Speaker 1:Which are.
Speaker 2:Well, they're both known for being super beautiful and having their own cool history. So, you've got like layers of history and nature all around.
Speaker 1:Wow. So you're not just living in a museum, you're like immersed in history. Exactly Okay. So for ghost town number four, we're going back to Colorado, but this time to a place called Silverton. They call this one the Wild West Getaway.
Speaker 2:Silverton I've heard of that. It's a pretty popular tourist spot, right.
Speaker 1:It is, and that's what makes this ghost town different it's not abandoned at all.
Speaker 2:Oh, interesting.
Speaker 1:Yeah, what's for sale here is a condo right above the gift shop.
Speaker 2:That's right in the middle of everything.
Speaker 1:Exactly yeah, it says it's just a block from the Durango and Silverton Narrow Gauge Railroad Depot.
Speaker 2:Oh, wow. So people are coming and going all the time.
Speaker 1:Yeah, this one isn't about escaping from the world. It's about being in the heart of it. And think about the railroad. It's a historic narrow gauge railway that goes through the San Juan Mountains.
Speaker 2:I've seen pictures. It's gorgeous.
Speaker 1:Right. So you're not just selling souvenirs, you're selling a piece of the Wild West experience.
Speaker 2:It's a totally different kind of ghost-taring experience.
Speaker 1:For sure. Okay, so for our final ghost tale we're going back to Arizona. This one is called Desert Paradise.
Speaker 2:Ooh, that sounds peaceful.
Speaker 1:It does right. It mentions a stone labyrinth, breathtaking sunsets. But here's the twist it's actually a successful bed and breakfast.
Speaker 2:Wait, what so? It's a peaceful retreat. That's also a business.
Speaker 1:Exactly. How do those two things even go together?
Speaker 2:That's a good question. It sounds like a delicate balance.
Speaker 1:Right Like you want to create a peaceful vibe for the guests, but you're also running a business.
Speaker 2:It shows you just how many different ways these ghost towns can be used.
Speaker 1:Yeah, it's not just one size fits all.
Speaker 2:Definitely not. And speaking of different approaches, you're always all about figuring things out, so I'm curious what are you thinking now? Have any of these ghost towns caught your eye? It really is amazing how these ghost towns, each with their own stories, can be brought back to life in so many different ways.
Speaker 1:It makes you wonder about all the stories they hold and the new stories that can be brought back to life in so many different ways. It makes you wonder about all the stories they hold and the new stories that could be made there. Okay, so let's get down to the nitty gritty. What are some things a potential buyer needs to think about when it comes to actually owning one of these places?
Speaker 2:Well, let's start with that Colorado Mountain Haven, the one near Telluride, with all those mining claims.
Speaker 1:Yeah, 31 mining claims.
Speaker 2:That's a lot to consider. First things first, due diligence is crucial.
Speaker 1:Due diligence meaning.
Speaker 2:You got to really dig into those mining claims. I mean literally, what kinds of minerals are there, how much are they worth, are the claims even still active and what are the legal things you got to deal with if you want to start mining again.
Speaker 1:Right, it's not just like grabbing a shovel and digging up gold.
Speaker 2:Definitely not. There are rules, environmental stuff, the whole process of getting the minerals out and process. It's complicated.
Speaker 1:Okay, so beyond the potential treasure trove of minerals, we've got 305 acres of land. What's the condition of the buildings? Are there any environmental issues on the property? These are all things you'd want to know before investing.
Speaker 2:Absolutely. And that brings us to the California desert getaway. The appeal of solitude comes with its own set of challenges.
Speaker 1:You mentioned water, electricity, waste disposal. What else should someone consider when going off the grid like that?
Speaker 2:Think about the basics. How do you get food? What if there's a medical emergency? You're pretty much on your own out there.
Speaker 1:Yeah, self-sufficiency is key.
Speaker 2:And then there's the paperwork permits for building, for using those mineral rights.
Speaker 1:That's a lot to navigate.
Speaker 2:So it's not just about escaping the city, it's about being ready for a whole different way of life. Exactly, speaking of a different way of life, let's talk about that historic gem in Arizona, the museum you can actually live in Right that one is so unique. Being on the National Register of Historic Places is a big deal. It means the building is historically important, but that also means you've got responsibilities, Like what. There are strict rules about keeping the historical parts of the building intact. Any renovations you do have to follow those rules.
Speaker 1:You might need special permits or experts to help you. So it's not just about decorating it the way you want. You have to be a caretaker of history.
Speaker 2:Right, and then think about the practical stuff. Does a historic building have modern amenities? How much work does it take to keep it looking good?
Speaker 1:Yeah, those are all good questions. And, being near popular hiking spots like the Dragoon Mountains and Cochise Stronghold, you might have visitors stopping by.
Speaker 2:Exactly. Are you ready to share your museum home with curious tourists? Okay, let's switch gears again to that Wild West getaway condo in Silverton, Colorado. This one seems like a whole different ballgame.
Speaker 1:Totally. Instead of being isolated, you're right in the middle of a tourist town. It's all about business savvy here. You're not just buying a place to live, you're buying a business. You gotta understand the tourism market, manage the gift shop, keep the customers happy.
Speaker 2:It's a different set of skills than surviving in the desert.
Speaker 1:For sure You've got the railroad bringing in people.
Speaker 2:You're in a historic town. It's like owning a piece of the Wild West. But what are some of the downsides? Well, think about the tourist season. Can you keep the business going when it's not peak season, and are you ready for the constant flow of visitors? It's not exactly peaceful.
Speaker 1:Right, it's a trade-off the energy of a busy town versus the quiet of being alone. And speaking of trade-offs, that desert paradise in Arizona presents a unique challenge how do you run a successful bed and breakfast while also offering a tranquil escape?
Speaker 2:It's a tough balance. You want to give guests peace and quiet, but you also have a business to run. It takes careful planning and a good understanding of how to make both things work.
Speaker 1:Sounds like a delicate juggling act. It really shows how important it is to think about your goals and what you're looking for in a ghost town.
Speaker 2:Absolutely. It's about matching your vision with the reality of what it takes to make these places thrive again. It all comes down to this Owning a ghost town. It's not just about buying a property. It's about bringing these forgotten places back to life. You got to have a vision and you got to be ready to put in the work.
Speaker 1:So it's not just about the romance of it all. There's a lot to think about.
Speaker 2:Exactly. You need to ask yourself some hard questions. What are you trying to do here? Are you looking for a peaceful escape, a business opportunity, a chance to preserve history, or maybe all of the above?
Speaker 1:Because each ghost town has its own personality, right Like the Colorado one with the mines, that's for someone with an entrepreneurial spirit. The Arizona Museum that's for the history buff. And then you've got that desert hideaway for someone who just wants to get away from it all.
Speaker 2:And once you've figured out what you want, it's time to do your research. Dig into the town's history. Look into the legal stuff zoning, regulations, all that. Figure out if there's water or electricity. Don't just get caught up in the fantasy. Get into the details.
Speaker 1:It's like uncovering the secrets of these towns, learning their stories, but also understanding what it takes to make them livable again.
Speaker 2:And don't forget about the money. Fixing up old buildings, setting up infrastructure, even just keeping a remote property running it all costs money.
Speaker 1:Yeah.
Speaker 2:You need a solid plan to make your ghost town dream last.
Speaker 1:So it's an investment in more ways than one time money and a whole lot of passion. But for those who are ready, who've done their homework and have a clear vision, owning a ghost town could be an amazing experience.
Speaker 2:Imagine bringing a piece of history back to life, creating a one-of-a-kind place where just finding peace and quiet in a place where time seems to stand still.
Speaker 1:So, as we wrap up this deep dive into the world of ghost towns, I want to leave you with something to think about. If you could own a ghost town, what kind of story would you tell? What would your legacy be? Would it be about preserving the past, building something new, creating a community, or maybe something we haven't even thought of?
Speaker 2:Because, in the end, these ghost towns are like blank pages, just waiting for someone to come along and write a new chapter.
Speaker 1:And who knows, maybe that someone is you. Thanks for joining us for this deep dive into ghost towns. We'll see you next time.