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Gotcha. That's a really good take. So if I hear you correctly, if something is old, you can't possibly pull any relevant wisdom or encouragement from it? People struggling and searching for peace and hope in painful times is "hysterical" to you. Understood.

Man, I 100% agree! I would never choose to avoid it and be stagnant--but I'm with you, I wish there was another way that was less painful! Thanks for the encouragement!

Thank you! I hope it’s helpful!

And welcome!! 😃👍🏼👍🏼👍🏼

Absolutely! I hope it was encouraging!

Only if you intend to build for yourself. You can definitely develop without your GC license by partnering with builders. Thats how I did my first 15 deals or so.

Yea this is all in the residential sector

Yea this is a tough one! So we typically make sure to build a cushion of 5-10% into the budget. I wish there was a great answer to this but I haven’t found one. The reality is that as the owner I just can’t push the risk of the unknown off onto the builder. That’s why it’s so important to build cushions into their budget as well as my pro forma and my profit margin. If they mess up, they eat it. But if there is a natural, normal expense-I.e. we start digging footers and have to dig deeper to get to native earth, that extra concrete expense is mine because they had no way of knowing. Hopefully that makes a little sense. If I ended up in a situation where I felt the Builder was being negligent with the budget, that would be a little different, and we would probably be having conversations about how to move forward, discounting their build fee, etc. The motivation for them to operate fairly with me is that they want my future business.

@@brianbandas thank you for the response! So sounds like it’s basically the norm to go a bit over budget. But if material prices go up or something that’s not your fault do they just eat that? Or do you have to pay for that as well

@@jjrealestategbasically unless it is the builders negligence the owner is typically going to eat it, in my experience. So materials increases would be tough to pin on a builder. I think you could definitely work with an attorney to put some safe guards in an agreement, such as the builder has to get 3 bids or you have to approve change orders over a certain amount, etc.

I have a video specifically about how to start developing that I definitely recommend you watch-I’ll tag you in the comments there. But the short answer is, I started to build relationships with a builder and a few investor partners, got them on board and then started hunting for a deal to buy, knowing I had a builder who would help me get the budget right, and investors who would help me close the purchase. That’s the VERY short version.

Thanks brother. Hopefully I’ll have more fun things to share in the months to come! 🤞🏼

Dude! Miss you Double C!

Bro thank you so much for this comment. Holding up well at least on camera 😂 I’ve had my moments, for sure. It has taken energy to fight off that downward spiral of negative thoughts, and to give myself space just to let myself feel the pain and then move forward. I think you’re right on regarding courage. Takes courage to start, and courage to hang in there when it’s bleak. My belief is, if I’m willing to push through the dark times, there are rich rewards on the other side!

@@brianbandas for whatever reason, it seems like the majority of abundant people go through a similar experience so, I think you’re right. You’re the man in the arena.

Thanks Landon! Totally agree. It’s always that game of cost benefit analysis.

Hey thank you! Hopefully it’s helpful to some. I’m gonna keep going and hourly have some more fun videos in the future 😂

Thanks AB!

Haha heck yea! Great timing!

Thank you! Glad the info was helpful!

Thank you brother! Yea you gotta run back some CrossFit style workouts! Feels great to push hard and sweat it out! Helps me clear my head!

Amen, one day at a time! Patiently rebuilding :-)

I mean, I definitely cringe when I think about the last two years! It was brutal!

Absolutely man, glad it's helpful! With any luck I can save a few people the trouble of learning some of these things the hard way!

I actually have not done a deal that way, but I 100% would if the right deal came along

Oh yea! there's always a way! I wouldn't say I wasted my 20s partying, but I did spend my 20s on a career that had nothing to do with real estate. I was a professional musician. Didn't start working in real estate until around age 28 or 29, and didn't start development until 35 or 36, and that was part-time. I would say, without knowing the details of your situation, that there is 100% a way for you to start learning this, building relationships and gaining knowledge that would allow you to develop real estate, even if it's on nights and weekends to start.

amen to that! pain, failure, loss, it's all necessary. Not fun at all, but so necessary to rising to greater heights and fulfilling our potential. I promise to keep going if you promise to keep going!

👊👊👊

That's awesome, good luck! Hope some of this proves helpful!

Slowly climbed the real estate investing mountain, I guess you could say. I liked but didn't love most of it: flipping, wholesaling, short term rentals, etc. But I grew up around new construction and always loved that. So finally took the leap to what I really wanted to be doing. I don't assume it's the perfect path for everyone but there's a lot about it for me personally that makes it a great fit.

hahah bro this comment made my day! Maybe we'll hit that 934k someday! Just gotta keep on going! thanks for the kind words!

Man, I know 2008 was ROUGH - I wasn't in real estate yet. Owning a restaurant though?? That's serious work right there!

this is wiser than I once realized. cash is CRUCIAL in this career. So hoarding money and never deploying it is a bad plan. but so is deploying/investing every penny the second you get it.

Thank you so much! More coming for sure!

Thank you Zena! I know you're killing it too!

Great question. There's a part of me that says "nothing's impossible!' It would definitely come with a unique set of challenges which would increase risk, but that could all be overcome, I believe, with the right team. You'd have to have good eyes and ears that you could rely on. I haven't personally tried to do that yet.

My pleasure - we're all fighting the good fight, right?

Thank you brother!

Hey man - I don't currently offer 1-on-1 coaching although that could change in 2025. I'm flattered that you asked! It's something I've considered and might do sometime soon.

Hahah WHAT? This is from a video about real estate development! 😂 who’s drop shipping?? We build houses!