As someone who builds buildings just like this, everything Dirk said here was totally on point: how equity raises work, locking in your perm rate at construction loan closing, initial cashflow not being huge but long-term benefits of holding these new assets (higher cashflow, refi opportunities down the road), cost seg is HUGE and has been huge for us - being able to take big chunks of depreciation. The only thing I am skeptical of is 28% expense ratios but maybe if property taxes are low it's possible. Seems a tad low or maybe I am just being jealous.
As much as I love this. Man this is not the real world. This is a great guy who fell into a great family business. This doesn’t just happen. So awesome! Cheers!
First comment! 🎉 I hope everyone watching this video and reading this comment good luck and success in real estate and any other field they are researching .
Keep coming back to this video and finally finished it. Its inspired me and has given me visions for the future of my career. Thanks Ryan, and Thank you Dirk.
Great Video. I Absolutely love the Development side of RE. 4 years in, however, Industrial is my favorite. Too many moving targets on luxury apartments/Retirement/assisted living homes.
Riviera Maya you can build 5 floors with rooftop around $2K fully furnished vacation property. Due diligence will help, and there are always many opportunities. It's growing in momentum and many investors buy land as well 3x.
Who’s his mother, who’s his father? What are their connections and careers. Nepo is inspiring for other brood facing imposter syndrome. For the rest of us…
I took a hit during Covid with the material boom I was building 3 custom homes and I had 3 flips I had to get rid of the flips and made nothing on the builds prices hit 3 times what they were example lumber package was 75k on a project when Covid hit it cost 125k
I really would like to become a student of yours I can look at a piece of land and develop it I can get off on a exit and tell u what it needs to make the economy and population grow
In LA hilside jobs apartments my profit is about 100% or more I'm doing a 29m apartment building but the profit is about 19M it takes about 4 years and more hoops to jump into
@rezatashakori2 I'm just gettin started in Development and I'd love to pick your brain about the hillside project you did that was featured on Darren Kriz's channel. Amazing work btw! I'd ofc offer value for your time.
Ryan you should definitely make your first CRE development an international one. I hear the Bahamas is a great place for American developers to go and come out profitable! 😂😂😂😂😂 Dirk to his credit despite being born into this without having to what many of us others have had to do with having deep pockets from family and built in relationships which is an absolute cheat code in this business he seemed very humble and came across to be fairly well versed in certain areas accept that expense ratio comment...yikes.
Why is everyone commenting about the fact that he came from a wealthy family, this is the most nonsensical comment you could ever make. I have to say this, if your excuse for why you cannot do it is because you don’t come from a wealthy family…go back to your job and stop watching these videos you will NEVER make it. I don’t like to make comments like this but MAN come on guys and gals. This is a silly way to look at things, you are counting yourself out all ready and doing it in the worst type of way. WHINING…
![Ground Up Real Estate Development for Beginners [And How to Get Started in Development]](http://i.ytimg.com/vi/E7NzUPI-72g/mqdefault.jpg)
![Ground Up Real Estate Development for Beginners [And How to Get Started in Development]](/img/tr.png)
As someone who builds buildings just like this, everything Dirk said here was totally on point: how equity raises work, locking in your perm rate at construction loan closing, initial cashflow not being huge but long-term benefits of holding these new assets (higher cashflow, refi opportunities down the road), cost seg is HUGE and has been huge for us - being able to take big chunks of depreciation. The only thing I am skeptical of is 28% expense ratios but maybe if property taxes are low it's possible. Seems a tad low or maybe I am just being jealous.
Shoutout to you, people really need to checkout your content especially you are interested in becoming a developer.
As much as I love this.
Man this is not the real world.
This is a great guy who fell into a great family business.
This doesn’t just happen.
So awesome! Cheers!
Bro. This channel is a joke. Dude basically leveraged pandemic and videos while we are all just catching up to that.
First comment! 🎉 I hope everyone watching this video and reading this comment good luck and success in real estate and any other field they are researching .
Keep coming back to this video and finally finished it. Its inspired me and has given me visions for the future of my career. Thanks Ryan, and Thank you Dirk.
Great Video. I Absolutely love the Development side of RE. 4 years in, however, Industrial is my favorite. Too many moving targets on luxury apartments/Retirement/assisted living homes.
How did you get started in that field? Did you have a team in place? What did the initial jump look like? If you don’t mind me asking…
Bump that!!
I’ve been in real estate development for 10 years 15 in total with construction during the pandemic I was trying to scale
How did it go for you?
Riviera Maya you can build 5 floors with rooftop around $2K fully furnished vacation property. Due diligence will help, and there are always many opportunities. It's growing in momentum and many investors buy land as well 3x.
2000 dollars ? i think you mean at least 200k
Great video. I admire a guy who takes his blessings to the next level👍🏻 Bravo
I’m flipping currently and I wanted to build next but this just inspired the hell out of me to do more and not be afraid !!!
Just closed on loan for development of my first 12 unit ground up construction. Any other videos on TH-cam folks can recommend would be helpful!
would love to connect. Building a Sfh
@@stepanabramov9628 I’m not very familiar with TH-cam but if you find a way to message me we can schedule a call
Interesting. I have seen you at the Cash Equity vip party in Dallas. I handle similar deals like that, with the wholesale concept and structure.
Teach me
The way they say normal is like in the end of the curve where as everyone is at the start or middle. Less than 1% are even close to after middle. 😶
Always, always...get entitlements before closing
Who’s his mother, who’s his father? What are their connections and careers. Nepo is inspiring for other brood facing imposter syndrome. For the rest of us…
Does Dirk have a course or group?
Dirk is a freaking animal…especially at his age.
I have an idea that can turn a home owner into a builder
Good vibes lol. Great insight and discussion.
I took a hit during Covid with the material boom I was building 3 custom homes and I had 3 flips I had to get rid of the flips and made nothing on the builds prices hit 3 times what they were example lumber package was 75k on a project when Covid hit it cost 125k
flipping properties is a terrible business.
why? @@algroulx1774
@@algroulx1774 explain. a statement goes nowhere without anything to back your claim
Great interview guys!
Glad you enjoyed it!
Good now bring his dad to the channel since he did all the work
Very interesting, I live in bend. I've worked in tetherow
Love this!!!!
Interested to know if quality care will be provided to the folks staying in the memory care facility? I’d hate for this to be a money grab
I really would like to become a student of yours I can look at a piece of land and develop it I can get off on a exit and tell u what it needs to make the economy and population grow
very hard to do this if you dont come from a wealthy family
In LA hilside jobs apartments my profit is about 100% or more I'm doing a 29m apartment building but the profit is about 19M it takes about 4 years and more hoops to jump into
@rezatashakori2 I'm just gettin started in Development and I'd love to pick your brain about the hillside project you did that was featured on Darren Kriz's channel. Amazing work btw! I'd ofc offer value for your time.
would love to connect. Building a Sfh
Ryan is a likeable guy.
Love your videos!
Thank you!
Ryan you should definitely make your first CRE development an international one. I hear the Bahamas is a great place for American developers to go and come out profitable! 😂😂😂😂😂 Dirk to his credit despite being born into this without having to what many of us others have had to do with having deep pockets from family and built in relationships which is an absolute cheat code in this business he seemed very humble and came across to be fairly well versed in certain areas accept that expense ratio comment...yikes.
Step one be a Vanderbilt
That explains alot
No way 28-30% expense ratio, guy will loose this place if a tight time comes, should be 40-50%
You know already, pay the right people and get fast license to build:)
50k to join. ... To play Golf.
Imagine if this was the case for basketball ymca clubs and gym memberships
Asheville NC scenic golfing
Why is everyone commenting about the fact that he came from a wealthy family, this is the most nonsensical comment you could ever make.
I have to say this, if your excuse for why you cannot do it is because you don’t come from a wealthy family…go back to your job and stop watching these videos you will NEVER make it. I don’t like to make comments like this but MAN come on guys and gals. This is a silly way to look at things, you are counting yourself out all ready and doing it in the worst type of way. WHINING…
Love Cabo but it is way overpriced.
I think so too!
I liked my own comment. All day.
Ryan check out Puerto Rico 🇵🇷
Ryan…. STOP trying to be cool🙄…. hey dude🤡
Not self made. Everything is easy when your born into the business.
That's my feeling tbh
Its not as easy as you might think. On top of the unspoken pressure put on you since birth of having to become something in this life.
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