Buckle DownA slow economy doesn't have to spell trouble. There are always new ways to move forward.
Opinions expressed by Entrepreneur contributors are their own.
Troy Wragg, 26, and Amanda Knorr, 25, co-founded real estate development firm Mantria Corp. three years ago with $5,000 and an interesting business proposition: The company would pay more than the asking price for properties if landowners agreed to be paid after Mantria sold their land. The business model worked--the Bala Cynwyd, Pennsylvania, company reached $15 million in sales last year.
The U.S. housing market has changed drastically since 2005, however, and Mantria is experiencing the market aftershocks caused by the credit crunch and skyrocketing adjustable-rate mortgage payments. ARM resets "will definitely affect our business in real estate and real estate finance," Wragg says.
Continue reading this article — and all of our other premium content with Entrepreneur+
Join the internet’s leading entrepreneur community! With your subscription you’ll get:
- Unlimited access, including premium content
- No ads
- Subscription to狗万官方magazine
- Four free e-books a year
- Subscriber-only events with our experts