One of our favorite entrepreneurs at Belmont is Cordia Harrington, a.k.a. “The Bun Lady.”
She has had a successful entrepreneurial career first in real estate, then as a McDonald’s franchisee, and now with her commercial bakeries that are suppliers of buns and other breads to companies such as McDonald’s and O’Charley’s.
She gave a talk in York, PA and touched on the current real estate market. From Today’s Financial News:
When Harrington started her real estate business when mortgage rates were 17%, they called her crazy. When she bought her first McDonald’s restaurant, a dilapidated low-volume franchise, they called her crazy. When she sold those businesses to build a state-of-the-art bakery from the ground up, they called her crazy.
But Harrington took advantage of fear in the markets to create a small fortune. Now she sees the current financial calamity as another fantastic growth opportunity. And she is urging entrepreneurs to follow in her footsteps.
With the real estate industry in the worst shape we have witnessed in decades, this is an opportunity to make investments that have the potential to pay of for years to come. Just as Harrington’s bread takes time to rise, so will the real estate market.
With the right ingredients, this market has the potential to rise into a fantastic wealth-generating opportunity.