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.
Great info for people who already come from money, connections, etc. not to talk away from this kids knowledge or hard work. As a consultant to developers on big and small projects. This the nepo type scenario my clients scoff at.
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.
Can we connect please? My dream is to become a developer and to be honest, I don't know how or where to start from, kindly respond please, I would love to connect with you. I am based in Canada btw
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
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 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…
exactly , you can tell who really has put in the time and research to know they want to keep pursuing real estate development . this guy just laid out the steps he takes , the same steps we can take . real estate had many forms to make money . if people wanted to they would .
exactly , you can tell who really has put in the time and research to know they want to keep pursuing real estate development . this guy just laid out the steps he takes , the same steps we can take . real estate had many forms to make money . if people wanted to they would . and who cares if he comes from money , these people that come from money usually know their shit better than others . so its good to listen, its like picking his fathers brain and his at the same time and seeing the end product or listening to it actually. but same shit
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.
Look who it is!!!
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.
@@CalebFelixRealtor hope those visions include a rich mami and papi.
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?
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!!
Great info for people who already come from money, connections, etc. not to talk away from this kids knowledge or hard work. As a consultant to developers on big and small projects. This the nepo type scenario my clients scoff at.
Great video. I admire a guy who takes his blessings to the next level👍🏻 Bravo
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
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
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
Can we connect please? My dream is to become a developer and to be honest, I don't know how or where to start from, kindly respond please, I would love to connect with you. I am based in Canada btw
Good now bring his dad to the channel since he did all the work
Does Dirk have a course or group?
Great interview guys!
Glad you enjoyed it!
Good vibes lol. Great insight and discussion.
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. 😶
Dirk is a freaking animal…especially at his age.
Always, always...get entitlements before closing
Love your videos!
Thank you!
Amazing video. New sub.
Love this!!!!
Very interesting, I live in bend. I've worked in tetherow
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
Step one be a Vanderbilt
That explains alot
I have an idea that can turn a home owner into a builder
I have conceptualized model that's share the same idea
Let's talk if you're keen
very hard to do this if you dont come from a wealthy family
Not impossible though
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
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…
Ryan is a likeable guy.
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
Watching this Dec. 2024....how's the market now?
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
No way 28-30% expense ratio, guy will loose this place if a tight time comes, should be 40-50%
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.
Asheville NC scenic golfing
50k to join. ... To play Golf.
Imagine if this was the case for basketball ymca clubs and gym memberships
It's inevitable .....there was a baby boom there will be a retirement boom so...yea....I'm ready for the assisted living boom
You know already, pay the right people and get fast license to build:)
I liked my own comment. All day.
💯
Love Cabo but it is way overpriced.
I think so too!
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…
exactly , you can tell who really has put in the time and research to know they want to keep pursuing real estate development . this guy just laid out the steps he takes , the same steps we can take . real estate had many forms to make money . if people wanted to they would .
exactly , you can tell who really has put in the time and research to know they want to keep pursuing real estate development . this guy just laid out the steps he takes , the same steps we can take . real estate had many forms to make money . if people wanted to they would . and who cares if he comes from money , these people that come from money usually know their shit better than others . so its good to listen, its like picking his fathers brain and his at the same time and seeing the end product or listening to it actually. but same shit
Ryan check out Puerto Rico 🇵🇷
Ryan…. STOP trying to be cool🙄…. hey dude🤡
7:53
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.
That’s should be the goal for all of us to pass to our children
Self made or born into it… either way someone was working hard
8:41