The real estate investment industry continues to be one of the fastest-growing ventures today, as more and more people are seeing its potential to create passive income. Over the past years, real estate investment has become a promising option for many investors who want to put their money in something that has the potential to generate great returns in the future. Seeing the same potential, entrepreneur and real estate investor Eric Spofford is expanding his business, Spofford Enterprises, in Miami, Florida.
Spofford Enterprises is an investment firm specializing in real estate, venture capital, and effective coaching for business people, with offices in Salem and New Hampshire. The company is guided by a set of non-negotiable values, which include loyalty, respect, integrity, perseverance, and philanthropy. Its recent move to Miami is a very timely decision for Eric, considering the strength of the Miami real estate market. Just last March 2022, Miami recorded its third-highest sales month in history with an increase in interest where it concerned high-end condo transactions.
Despite the threat of a potential recession looming over the US economy, Eric remains confident about the many opportunities the city can offer his company. There is still growing demand for real estate, and apparently, there is a lack of supply. As can be expected, Eric could not let this opportunity pass. He is taking a risk in Miami and looks forward to growing Spofford Enterprises there.
“As we head into a recession, the real operators are about to be accelerated, while the rest will be left behind,” he explained. Eric, however, has very sound advice when it concerns the anticipated recession. “Don’t let emotions dictate your decisions. Operate out-of-studio history, facts, and data.”
Before venturing into real estate investment, Eric built his career in behavioral healthcare in 2008. He struggled with addiction some years ago, and his recovery inspired him to give back to the community by building New Hampshire’s first sober living house. In the next decade, Eric managed to expand his business more and became New England’s largest provider of addiction treatment services. In 2019, Eric sold a minority of his shares and decided to work with a business partner. In the next two years since then, Eric and his business partner sold their business to private equity in 2021.
Despite the many challenges Eric faced in his business and personal life, he managed to rise above them and protect himself from relapse. In 2018, Eric was recognized as the Young Entrepreneur of the Year. In the same year, he testified in the US Senate and became a published author. Another achievement that Eric is truly proud of is being sober for the last 15 years.
All of Eric’s efforts have made significant changes in his life and career. His latest venture, Spofford Enterprises, is currently managing a mid-9-figure mixed portfolio of multi-family and commercial properties, apart from specializing in real estate investment and development, acquisition, and investment. Under his leadership, the company is always looking for new ways to acquire and invest a property.