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25 contributions to The Dirt Road to Wealth
No Call Tomorrow
Hey guys, no call tomorrow. I am in Colorado with my pops fishing. Hope you all have a great week!
0 likes • 7d
Bummer, but have fun! Can we talk about infill development when you get back? i.e. surveying off a side yard for a SFH build in town and the best way to structure the deal
$7,000 worth of owner financing LOI and JV/Development Lien Contracts
Hey guys, I wanted to share with everyone some templates that I use just about every day in my business, let me know if you want to know anything else on these.
2 likes • Aug 6
So in this example, buy for $960k with 10% down on a 36month note at 7% interest… then you’re improving the property at your cost, then selling (at a substantial profit) and/or subdividing?
Creative Land Deals
Anyone have experience partnering with the Seller to develop together? - Owner contributes the land as equity / collateralized for construction loan - You contribute real estate development expertise, hire the engineers, manage the contractors, etc (fixed acquisition/construction management fee or percentage of the project value) - Owner gets the agreed upon contribution price of raw land back plus a % of the profits from the sale of homes (or finished lots to end builder) -- [similar to a GP-LP relationship, but done at a single project-level] @Trevor Probandt recommends using a Land Contract to get on Deed; but I'm thinking a SPV LLC where the contributions are clearly stated in the Operating Agreement or sign a JV Contract and record a Memorandum of Contract with Title Company
Creative Land Deals
0 likes • May 20
@Chris Gibson chime in
0 likes • May 20
@Chris Gibson definitely "simpler" to just do Seller Financing by any other name... but then I'm not sharing profits and really not "partnering" with the seller, just paying more than market value
Missing the Call Today
Hey guys, I have to go look at a property this afternoon, unfortunately it is nearly 2 hours drive away, I will miss the call today. My apologies. But should be good to go next week.
1 like • May 19
Dang. Finally free for this one. Do you know anything about joint ventures? Specifically, partnering with the Seller to develop together? - Owner contributes the land as equity / collateralized for construction loan - I contribute real estate development expertise, hire the engineers, manage the contractors, etc - Owner gets the agreed upon contribution price of raw land back plus a % of the profits from the sale of homes (or finished lots to end builder)
Raising Capital
Hey guys, what do you want to learn about raising capital? Lets get a thread going on questions and answers and we can build out responses on the call for next week. If I don't have the answer I know somebody on here will have it.
1 like • Apr 8
I met with Land Advisors Capital today who is interested in backing my Lot Banking/horizontal-only deals. From what I gathered they are a PE fund and my individual deals are typically too small for them (smallest they do is $3m and prefer $9m+) but with my pipeline they are considering backing me. Is there anything in between a fund and individual deal Joint Venture? What should I look out for as I've only self funded and worked with hard-money lenders?
1 like • Apr 9
@Trevor Probandt Happy to give up equity if they're going to provide equity + debt. I tie up the deal, put my own money into feasibility, and get LOI/PSA from end builder -- and will operate/sponsor. I have several 4-50 lot deals in the pipeline and DRB, NVR, etc want FINISHED lots & will pay 25-30% ASP for them (as well as flip me raw dirt to take through entitlements & develop) -- just need consistent capital to take on any more projects.
1-10 of 25
Eric Bakey
3
3points to level up
@eric-bakey-7680
Land Developer & Creative Dealmaker [email protected]

Active 1d ago
Joined Apr 10, 2024
Charleston, SC
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