Ep #169 – Jordan Madewell – Becoming a Multifamily Real Estate Developer
Here’s Some of What You Will Learn:
- Opportunities in building to rent or building to flip
- How to structure a real estate development deal.
- How structuring a deal with the seller of the land can benefit construction financing.
- How to minimize out of pocket equity when dealing with real estate development.
- If you do not have any experience on contracting, partner up with a general contractor when getting into real estate development.
- How to find good general contractors.
- Going from a commercial zoning to a residential zoning is typically easier that the alternative.
- Development is a longer process, typically 6-12 month depending on rezoning and planning.
- It is best to find land that is free and clear.
- If it’s just a purchased land, cash on cash return will be minimal for the first few years.
- 2-3% per month is typically the standard on leasing up per month after development of a property.
- You should always try to use a local architect because it will benefit you even though you have to pay more.
- Local architects know everybody in the city and they know the nuances of that specific city you want to build in.
- If you have a blueprint from somewhere else, and there are no restrictions on use of that blueprint, then a local architect can look over those blueprints and make the needed changes.
- How to find land to develop on.
- When doing your first build, do something simple first.
- Connect with me on Facebook at Rod Khleif.
- Text Rod to 41411 or visit RodKhleif.com for a FREE copy of my book, “How to Create Lifetime Cash Flow Through Multifamily Properties.”
You can learn more about Jordan Madewell at:
Want to build Lifetime Cash Flow from Multifamily Properties?
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