Entrepreneurs Helping Entrepreneurs: Tim Wade Real Estate
ENTREPRENEURS HELPING ENTREPRENEURS
Stories of Resilience
This year, Upaya is celebrating the resilience our partner entrepreneurs exhibit as they build and expand their businesses, and the resilience their jobholders gain as a result of their stable, dignified jobs.
It's good to remember that we all have to weather some storms to be successful. In this spirit, we asked some of our Upaya sponsors to share their stories of resilience in our series, “Entrepreneurs Helping Entrepreneurs.”
Tim Wade and Carole Lundgren of Tim Wade Real Estate – Upaya Gala Sponsor
This dynamic husband and wife team runs a successful real estate investment and development company in Oregon’s beautiful wine country. After vacationing in the Willamette Valley a few years ago, Tim and Carole fell in love with the place and vowed to return. Their passion led them to real estate investments and a growing hospitality business to introduce others to this unique region and the wine-making industry.
As idyllic as it sounds, leaving the corporate world to set up the venture was not easy. “We took a big, but calculated, risk,” Carole said. “We both had good jobs with steady paychecks, vacation time, sick time, 401Ks and health insurance. We weren't unhappy, but when opportunity presented itself to become entrepreneurs and both take the jump, we couldn't say no.” The couple moved from Seattle to Oregon but not before developing a backup plan and a timeline to objectively determine if they’d be able to make the venture work.
Tim admits there have been a number of ups and downs in this journey, but he also has sound advice for other entrepreneurs. “In real estate and hospitality, cash flow can be seasonal and ours certainly is! We've made sure to have cash in reserve and a great line of credit in order to maintain cushion during the lean months,” he said. “Disrupting old business models means that we're sometimes caught by the whims of governments as they struggle to regulate housing and vacation rentals in their jurisdictions. We incorporate a consistent methodology for zoning and regulation research, as well as cultivation of city officials to ensure that we invest in locations that understand the value we bring to their communities.”
Sound planning has helped this couple weather the challenges thrown their way, and enjoy new careers they had only dreamed of years before.
Tim and Carole are generously offering a 4-day / 3-night stay at their elegant 3-bedroom / 3-bath mid-century Wine Country home in Upaya’s annual fundraising auction! Accommodating up to 6 adults, this newly-renovated home sits in the heart of the Willamette Valley and is the perfect launchpad for a long weekend of wine tasting and fine dining.
Come to the Upaya Gala on March 1st to bid on this item during our annual live auction!
MEDIA CONTACT:
Madlin D’silva
mdsilva@upayasv.org