WEBVTT - Study Hall: HOW TO GET MONEY TO BUY LAND 0:00:00.160 --> 0:00:03.279 Behind the delivery trucks that keep your life stocked. Thousands 0:00:03.279 --> 0:00:06.280 of employees at BP go to work every day. People 0:00:06.320 --> 0:00:09.760 bringing a new offshore production platform online. People making our 0:00:09.760 --> 0:00:14.680 refineries capable of more like making renewable diesel from agricultural waste. 0:00:14.720 --> 0:00:17.919 People trading and shipping fuels to our customers, and people 0:00:18.040 --> 0:00:21.759 helping truckers fill up and get maintenance at our convenient locations. 0:00:21.880 --> 0:00:25.120 They're part of almost three hundred thousand jobs VP supports 0:00:25.200 --> 0:00:28.400 across the country. Learn more at VP dot com. Slash 0:00:28.480 --> 0:00:29.800 Investing in America. 0:00:30.200 --> 0:00:33.760 About the money. This is the financing portion of your 0:00:33.840 --> 0:00:36.800 land and development. We're going to talk about institutional funding, 0:00:36.920 --> 0:00:44.519 seller financing, private lenders, and crowdfunding institutional funding. This is 0:00:44.520 --> 0:00:51.199 where the slides get less cute with visuals, right, but 0:00:51.360 --> 0:00:55.360 it's a serious matter. Farmers dot gov is a website 0:00:55.360 --> 0:00:58.960 that I want to tell everybody to check out. You 0:00:59.040 --> 0:01:03.280 might not have any intention of farming, but with what's 0:01:03.360 --> 0:01:08.280 going on with food sovereignty, being able to purchase land 0:01:08.319 --> 0:01:14.800 through the USDA and loan products that are available, as 0:01:14.840 --> 0:01:19.800 well as being able to take advantage of any grants 0:01:19.840 --> 0:01:24.000 and different things that are available with food sovereignty projects, 0:01:24.560 --> 0:01:28.440 it's a no brainer. Look into Farmers dot gov. That 0:01:28.560 --> 0:01:33.760 is a great resource. When you are purchasing land. Institutional 0:01:33.760 --> 0:01:36.520 funding is your typical funding. That's when you go to 0:01:36.600 --> 0:01:43.360 Wells Fargo, Bank of America, Chase, or Citizens Trust Bank, 0:01:44.400 --> 0:01:49.080 Unity Bank and you say, I want to buy this 0:01:49.200 --> 0:01:52.000 piece of land, I would like to build a home 0:01:52.120 --> 0:01:54.760 on it, and I would like to sell it. They've 0:01:54.800 --> 0:01:58.560 got the best rates that it's the hardest to get, 0:01:59.200 --> 0:02:01.600 so you're going to need to speak to multiple lenders, 0:02:01.880 --> 0:02:04.880 and you're going to do best by starting with a 0:02:04.920 --> 0:02:08.480 bank that you already have a relationship with. So this 0:02:08.600 --> 0:02:12.800 goes without saying, before you try your hand at investing 0:02:12.880 --> 0:02:16.320 in any land, you should be credit worthy. You should 0:02:16.320 --> 0:02:19.960 have an exceptional credit score. You should have money and 0:02:20.040 --> 0:02:23.720 savings in the bank. At least, you know, twenty five 0:02:23.800 --> 0:02:27.560 percent of your disposable income should be saved in the 0:02:27.600 --> 0:02:33.720 bank before you start buying land and investing in this way. Yes, 0:02:33.800 --> 0:02:40.359 you can buy affordable land at affordable prices cash outright, 0:02:40.600 --> 0:02:43.200 and if that's the strategy you want to do, by 0:02:43.240 --> 0:02:46.119 all means do it. But if you're going to do 0:02:46.360 --> 0:02:51.040 a development project of scale, you're going to need institutional funding. 0:02:51.400 --> 0:02:53.920 And to get the best rates and to even be 0:02:54.080 --> 0:02:58.120 considered by a traditional lender, you are going to need 0:02:58.400 --> 0:03:04.880 exceptional credit and experience that track record. Again, there's ways 0:03:04.919 --> 0:03:06.960 to get around it if you don't have a track 0:03:07.040 --> 0:03:09.800 record and no one on your team has a track record. 0:03:10.000 --> 0:03:15.720 By partnering strategically with your constructor your excuse me, your builder, 0:03:16.040 --> 0:03:22.480 your developer, speak with multiple lenders. Set up your LLC again, 0:03:22.600 --> 0:03:26.840 talk to that strategy, that business consultant, that strategist, that 0:03:26.919 --> 0:03:33.280 business attorney. Put your LLC into position by having the best, 0:03:33.320 --> 0:03:37.200 most credit worthy people on your LLC, people who have 0:03:37.400 --> 0:03:43.520 experience in maybe they have been a general contractor if 0:03:43.560 --> 0:03:46.680 you have someone in your family or in your friend group, 0:03:46.960 --> 0:03:49.920 use the people who are in the best position to 0:03:50.040 --> 0:03:53.640 be able to go after institutional funding. If you do that, 0:03:56.800 --> 0:04:01.200 seller financing is the better option if you know you'd 0:04:01.240 --> 0:04:02.920 have less than perfect credit. 0:04:07.840 --> 0:04:12.520 No ash, hold on ask because we got to hear that. 0:04:12.600 --> 0:04:15.640 We gotta hear that. The good folks that zoom something 0:04:15.920 --> 0:04:17.200 your sound kIPS going in and. 0:04:17.080 --> 0:04:21.080 Out, they're trying to sensor you like your sound your asking, 0:04:21.160 --> 0:04:24.240 can you repeat that because your sound yourself is cutting 0:04:24.320 --> 0:04:26.400 off like every like ten minutes for like a minute. 0:04:26.560 --> 0:04:26.919 I don't know. 0:04:26.960 --> 0:04:30.000 I don't know what's going on, but can you can 0:04:30.040 --> 0:04:32.120 you start back at the beginning of seller financing please? 0:04:32.400 --> 0:04:34.560 We can't. We can't let that go on muted. 0:04:34.920 --> 0:04:38.960 Yes, I apologize. I probably have an unstable internet connection. 0:04:39.120 --> 0:04:42.480 It's all good any anytime, anytime. Let you do that again, 0:04:42.520 --> 0:04:45.640 because we don't want anybody to miss any information. Like 0:04:45.720 --> 0:04:48.279 when your sound goes out, we'll just start talking because 0:04:48.279 --> 0:04:50.760 it's usually like only for like thirty seconds, So then 0:04:50.800 --> 0:04:52.560 we'll start talking and then we could just bring you 0:04:52.600 --> 0:04:54.919 back into just so whenever you hear it start talking, 0:04:55.040 --> 0:04:57.000 just know that your sound cut out, and then we'll 0:04:57.000 --> 0:04:58.800 just bring you back in when your sound comes back on. 0:04:59.000 --> 0:05:01.159 Yeah, because I got my know to ash and I'm like, wait, 0:05:01.200 --> 0:05:02.120 what just happened? 0:05:04.360 --> 0:05:07.120 Get the information? Hook a crook man, that's a fact. 0:05:07.880 --> 0:05:09.560 Shout out to every Shout out to everybody that has 0:05:09.560 --> 0:05:10.080 their hand raise. 0:05:10.080 --> 0:05:10.719 We're gonna get to that. 0:05:10.960 --> 0:05:13.159 When Ashley fins with the presentation, we see the questions, 0:05:13.200 --> 0:05:15.000 We're gonna get to that, all. 0:05:14.960 --> 0:05:18.279 Right, bet seller financing. What I was saying is it's 0:05:18.440 --> 0:05:24.440 usually a better option because seller financing typically does not 0:05:24.600 --> 0:05:30.919 report to the credit bureaus. Sellers typically just want to 0:05:30.920 --> 0:05:32.760 get their money, and as long as you pay them, 0:05:32.800 --> 0:05:35.480 they have no reason to report to the credit bureaus. 0:05:35.600 --> 0:05:38.919 So that means your debt to income racial is not 0:05:39.040 --> 0:05:42.560 going to change because that debt that you have on 0:05:42.600 --> 0:05:46.600 that land is not going to be reported, so you 0:05:46.720 --> 0:05:49.040 know it, but nobody else is gonna know it. So 0:05:49.120 --> 0:05:52.680 seller financing means you could go and put loans out 0:05:52.720 --> 0:05:56.000 on twenty properties real quick and start flipping them on 0:05:56.120 --> 0:05:58.800 how you might see it as an opportunity, and your 0:05:58.920 --> 0:06:02.640 debt to income reach is not going to change, and 0:06:02.800 --> 0:06:06.200 you'll be able to move on your projects or get 0:06:06.240 --> 0:06:10.960 institutional funding as needed or additional credit cards as needed 0:06:11.160 --> 0:06:15.640 without these land deals being on your credit report and 0:06:15.720 --> 0:06:20.839 pulling your debt to income ratio to a lower score. 0:06:21.880 --> 0:06:27.680 So with seller financing is scamming season, so be careful. 0:06:28.040 --> 0:06:31.839 People will put a picture of a property up at 0:06:31.880 --> 0:06:35.320 like they are the seller and you go and you're like, oh, 0:06:35.520 --> 0:06:39.000 I just bought twenty five acres for five stacks, and 0:06:39.680 --> 0:06:43.040 you did not just buy twenty five acres for five stacks. 0:06:43.400 --> 0:06:46.760 So make sure you are doing your due diligence, that 0:06:46.800 --> 0:06:51.000 you're checking the tax records to make sure that the 0:06:51.040 --> 0:06:54.440 person who says that they are the owner the seller 0:06:54.720 --> 0:06:58.080 is the seller. Check with the listing agent, make sure 0:06:58.440 --> 0:07:02.120 that the listing agent is is an official broker. And 0:07:02.240 --> 0:07:06.880 you protect yourself in every former fashion by going through 0:07:07.320 --> 0:07:12.800 a closing attorney on your seller financing deal. That's how 0:07:12.800 --> 0:07:17.200 you cover your assets. Okay, don't go do a seller 0:07:17.320 --> 0:07:22.200 financing deal straight up, and you might not actually end 0:07:22.280 --> 0:07:25.840 up buying this land, unless, of course, you are again 0:07:26.000 --> 0:07:30.440 a season investor, a season real estate investor that's used 0:07:30.480 --> 0:07:34.080 to buying properties and putting deeds in at the text 0:07:34.360 --> 0:07:38.440 assessor's office and with the court in the county. If 0:07:38.480 --> 0:07:41.520 that's not you, you need a real estate agent and you 0:07:41.560 --> 0:07:45.360 need a close an attorney to ensure that your transaction 0:07:45.560 --> 0:07:50.280 with the seller goes through smoothly. Another note, with seller financing, 0:07:50.480 --> 0:07:59.560 or what's also known as owner financing, you negotiate with 0:07:59.680 --> 0:08:05.360 the You can negotiate what you want and they can 0:08:05.440 --> 0:08:09.520 negotiate what they need. So it could be a twenty 0:08:09.560 --> 0:08:13.400 percent down payment, it could be a fifty percent down payment. 0:08:13.720 --> 0:08:17.800 It can be a flat monthly rate of interest only 0:08:17.880 --> 0:08:20.680 with a balloon payment at the end. So make sure 0:08:20.720 --> 0:08:24.400 that you do good negotiating so that you get the 0:08:24.440 --> 0:08:29.880 best financing terms possible, so that you don't end up 0:08:29.960 --> 0:08:33.280 overpaying for this price of land. Because if that's the case, 0:08:33.960 --> 0:08:38.240 you hustling backwards. So negotiate. Make sure that you got 0:08:38.240 --> 0:08:42.600 your best negotiator doing the negotiating, and you don't lose 0:08:42.640 --> 0:08:47.200 your shirt because you're financing a an exorberate interest rate, 0:08:47.480 --> 0:08:50.480 you're putting too much money down. Any of those things 0:08:50.520 --> 0:08:55.959 can be a bad situation. So negotiate, negotiate, negotiate, and 0:08:56.040 --> 0:09:00.000 make sure final note that the owner owns the property 0:09:00.080 --> 0:09:05.080 the outright. Ideally, if the owner doesn't own the property outright, 0:09:05.880 --> 0:09:10.680 don't buy it. If the property itself has a mortgage 0:09:10.720 --> 0:09:14.079 on it, that's going to be more than the down 0:09:14.160 --> 0:09:17.200 payment you're going to pay, because when you pay that 0:09:17.320 --> 0:09:21.160 down payment, you want that down payment to clear the mortgage. 0:09:21.240 --> 0:09:24.720 No out that way, you can end up with the 0:09:24.800 --> 0:09:28.560 deed in your name. From that moment you leave the 0:09:28.600 --> 0:09:32.480 closing table, that deed being in your name means it's 0:09:32.600 --> 0:09:40.240 your property. You can get USDA farm benefits, you can 0:09:40.280 --> 0:09:42.480 get all of the things that you need. But as 0:09:42.480 --> 0:09:45.360 long as there's a mortgage on that property, in that 0:09:45.559 --> 0:09:49.880 seller's name. This deal is a no go in most states. 0:09:49.960 --> 0:09:53.480 You can't have a property and sell it while you 0:09:53.559 --> 0:09:57.400 still have a mortgage on it, So be mindful that 0:09:57.400 --> 0:10:00.320 that mortgage needs to get cleared, and if it can't 0:10:00.320 --> 0:10:03.360 get cleared, it needs to be assumed, and you need 0:10:03.400 --> 0:10:06.760 to go through the process of legally assuming that mortgage 0:10:06.800 --> 0:10:10.200 with the mortgage holder and do it the right way 0:10:10.320 --> 0:10:14.880 because you do not want to lose your money. Private 0:10:14.920 --> 0:10:19.320 money lenders highest interest rates, hands down, that's not the 0:10:19.360 --> 0:10:21.600 way to go if you can avoid it, but it's 0:10:21.679 --> 0:10:25.520 easier to get most cases. It's based on the deal. 0:10:26.080 --> 0:10:29.800 And you can also get private money from family and 0:10:29.880 --> 0:10:32.520 friends if you are lucky enough to have people who 0:10:32.600 --> 0:10:38.560 are financially Asstoote and who have savings and are interested 0:10:38.679 --> 0:10:44.000 and able to invest in deals like landdills and new 0:10:44.040 --> 0:10:48.600 construction opportunities. So if you have somebody in your circle, 0:10:49.040 --> 0:10:54.000 go get that private money first. Negotiate, negotiate, negotiate, win 0:10:54.080 --> 0:10:59.680 when right, And if you don't have private money of 0:10:59.720 --> 0:11:03.800 ail to you in your own personal network, you can 0:11:03.840 --> 0:11:06.839 go to a hard money lender. Hard money lenders are 0:11:06.920 --> 0:11:10.960 essentially borrowing the money of all the people in their network. 0:11:11.200 --> 0:11:15.120 To be able to make loans to you at exorberant 0:11:15.200 --> 0:11:19.720 interest rates. A good interest rate for somebody who has 0:11:21.000 --> 0:11:23.920 a pretty good credit score who wants to bus and 0:11:24.040 --> 0:11:26.960 move before their business has been in business for at 0:11:27.080 --> 0:11:31.400 least six months. Because typically all of these financing options, 0:11:31.880 --> 0:11:35.000 except for seller financing, you're gonna want to be in 0:11:35.200 --> 0:11:37.840 business for at least six months, unless you are doing 0:11:37.880 --> 0:11:41.319 a farming business in which you can use a USDA 0:11:41.520 --> 0:11:46.400 startup loan to fund your land purchase and your farming 0:11:46.480 --> 0:11:53.360 operational expenses. But otherwise you are going to need to 0:11:53.440 --> 0:11:57.080 have been in business for at least six months, unless 0:11:57.120 --> 0:12:00.760 you're again going with a hard money lender. If not 0:12:01.200 --> 0:12:03.839 your heart, your heart money lender is going to look 0:12:03.880 --> 0:12:09.440 at the credit score of the primary or the managing partner. 0:12:09.679 --> 0:12:12.040 If that person has like a seven hundred credit score 0:12:12.120 --> 0:12:14.400 or better, you don't have to have been in business 0:12:14.440 --> 0:12:20.360 for six months. Again, Typically the deal will dictate the 0:12:20.520 --> 0:12:23.720 private money lenders situation where you might not need to 0:12:23.800 --> 0:12:27.920 have good credit, but you definitely need to go and 0:12:28.000 --> 0:12:32.240 have these conversations again negotiating with your private money lenders. 0:12:32.520 --> 0:12:37.040 My favorite private money lender is direct lending Partners. They 0:12:37.120 --> 0:12:42.200 typically do not do deals on land. Most private money 0:12:42.280 --> 0:12:45.960 lenders or hard money lenders do not do deals on 0:12:46.320 --> 0:12:51.239 just land. But again, this is America. Anything is possible 0:12:51.480 --> 0:12:55.960 when you negotiate and open your mouth. Crowdfunding less hoops, 0:12:56.360 --> 0:13:03.360 less successful crowdfunding. When we started our when we decided 0:13:03.400 --> 0:13:07.240 to purchase land and we were looking at Toomsboro, we 0:13:07.280 --> 0:13:10.920 went on to go fund me and we looked and 0:13:10.960 --> 0:13:18.520 seen about fifteen or twenty crowdfunding campaigns of people trying 0:13:18.559 --> 0:13:23.040 to fundraise the one point seven million dollars for the 0:13:23.080 --> 0:13:26.839 city of Toombsboro. Right, crickets on all of the on 0:13:26.880 --> 0:13:30.360 all of the crowdfunding like, nobody raised more than like 0:13:30.480 --> 0:13:34.959 a thousand dollars on any of these crowdfunding website on 0:13:35.520 --> 0:13:40.560 this GoFundMe. So crowdfunding, while everybody gets really excited about 0:13:40.600 --> 0:13:45.319 it as an option, it's not usually successful unless you're 0:13:45.480 --> 0:13:49.240 very strategic and you have a huge marketing campaign and 0:13:49.320 --> 0:13:52.920 a great story. We were able to raise over eighty 0:13:52.960 --> 0:13:55.960 seven thousand, We're almost close to our eighty eight thousand 0:13:56.040 --> 0:13:59.320 dollars goal. And we used that as a kind of 0:13:59.320 --> 0:14:01.920 like a building fun where we were able to clear 0:14:02.040 --> 0:14:06.560 our land and put down gravel and you know, lay 0:14:06.600 --> 0:14:13.240 down areas for us to do our uh pavilions and 0:14:13.480 --> 0:14:16.760 our stages and all those types of things. And so 0:14:17.440 --> 0:14:20.920 that was a long and hard process to raise eighty 0:14:20.960 --> 0:14:23.640 eight thousand dollars and we still haven't reached our goal. 0:14:23.960 --> 0:14:28.040 So I crowdfunding is an option. It doesn't take a 0:14:28.080 --> 0:14:32.600 lot other than a strong story and marketing campaign, but 0:14:32.720 --> 0:14:35.040 they don't tend to go as far or be as 0:14:35.120 --> 0:14:37.520 successful as you would like them to be. And it 0:14:37.600 --> 0:14:41.600 takes a ton of money to be able to genuinely 0:14:41.640 --> 0:14:46.480 develop large projects, especially when they don't have, you know, 0:14:46.600 --> 0:14:53.720 connection to certain infrastructure. So crowdfunding is definitely a later choice. 0:14:53.760 --> 0:14:58.840 And then there is regulation crowdfunding, which you can raise 0:14:58.920 --> 0:15:02.280 up to one million and seventy thousand dollars. I'm not 0:15:02.600 --> 0:15:08.280 very familiar with crowdfunding, and I would love if Troy 0:15:08.360 --> 0:15:12.640 and Rashad could get somebody who has done some crowdfunding 0:15:13.200 --> 0:15:16.960 in the EYL University at some point, because. 0:15:16.800 --> 0:15:20.000 Yeah, yeah, we did Chrisinegal Chrisinegal, and I'm sure he'll 0:15:20.000 --> 0:15:22.240 come back again and get he could do it. 0:15:22.280 --> 0:15:23.840 We can do a class on crowdfunding for sure. 0:15:24.040 --> 0:15:25.280 Yeah. 0:15:24.880 --> 0:15:26.840 Yeah, he had a very he had a very successful 0:15:26.840 --> 0:15:29.280 crowdfunding campaign that they raised over a million dollars. 0:15:29.400 --> 0:15:32.800 See what I'm saying. So we I can't speak to that, 0:15:32.960 --> 0:15:36.880 but that right there, this is how we really start 0:15:36.960 --> 0:15:41.080 to develop land. Deal. So that's something that you guys 0:15:41.080 --> 0:15:43.760 are gonna come back, have to become earners and come 0:15:43.840 --> 0:15:47.560 back and get this class when it comes. All right, 0:15:48.400 --> 0:15:53.400 So let's get to the bill. The discovery period. There's 0:15:53.440 --> 0:15:57.640 a master planning period, there's a design phase of construction 0:15:58.000 --> 0:16:04.200 and marketing. Discovery starting from scratch means you need to 0:16:04.320 --> 0:16:08.360 discover the limitations and the restrictions of the land. I 0:16:08.400 --> 0:16:15.400 saw somebody in the comments say something about feasibility studies. 0:16:15.800 --> 0:16:19.320 That's this moment of discovery. Right. You can do a 0:16:19.320 --> 0:16:24.200 feasibility study before you buy the land, but that's a 0:16:24.240 --> 0:16:27.800 whole lot of money to put into something and then 0:16:27.920 --> 0:16:32.160 decide not to buy it or go forth. If you 0:16:32.240 --> 0:16:35.760 study the area, you do your due diligence, you know 0:16:35.840 --> 0:16:39.480 what's happening in the community, You've got a clear vision 0:16:39.960 --> 0:16:42.960 when you purchase that land. You can do your feasibility 0:16:43.040 --> 0:16:49.040 study after the fact. Because developing land is really a 0:16:49.160 --> 0:16:54.280 lengthy process. It's not an overnight success type situation. It's 0:16:54.320 --> 0:16:56.920 going to cause for a civil engineer to come in 0:16:57.400 --> 0:16:59.960 to study the grating and the slopes of the land. 0:17:00.600 --> 0:17:03.320 There's gonna be someone who goes and drills into the 0:17:03.400 --> 0:17:08.600 dirt to see how much weight the dirt can withstand, 0:17:08.760 --> 0:17:12.400 so you know how high you can build and what 0:17:12.440 --> 0:17:15.080 you can build, and what kind of materials there's gonna 0:17:15.119 --> 0:17:18.879 be best based on the climate. I'm skipping ahead, but 0:17:19.680 --> 0:17:24.040 ultimately this discovery period is where you're gonna get your 0:17:24.119 --> 0:17:28.840 topographical survey done and you're gonna want to understand the 0:17:28.880 --> 0:17:33.280 demographics of the area. Again, what the median income is, 0:17:33.840 --> 0:17:38.120 are people graduating from college? Is the crime rates high? 0:17:38.320 --> 0:17:42.800 All of that good stuff. So that is your discovery period, 0:17:43.280 --> 0:17:47.359 your master planning period. This is where you're a person 0:17:47.400 --> 0:17:51.159 that you hired as your master planner looks at where 0:17:51.200 --> 0:17:55.320 we're gonna put everything at the infrastructure and the roads. 0:17:55.680 --> 0:17:59.560 Ingress and egress means how you go into the neighborhood, 0:17:59.600 --> 0:18:01.840 how you go out of the neighborhood, how you go 0:18:01.960 --> 0:18:05.040 into your driveway, how you go out of your driveway, 0:18:05.720 --> 0:18:10.760 waste management, stormwater runoff. They're gonna plan all of these things. 0:18:11.240 --> 0:18:15.040 You are not the person that does that. There's a 0:18:15.160 --> 0:18:19.720 master planner, a developer or architect, a civil engineer. There 0:18:19.800 --> 0:18:23.160 are a team of experts that sit down and do 0:18:23.200 --> 0:18:27.200 your master planning if you're doing a large scale project. 0:18:27.359 --> 0:18:30.080 If you're doing a smaller scale project, you still need 0:18:30.080 --> 0:18:32.760 the same people, but you might be able to work 0:18:32.800 --> 0:18:36.359 with a boutique company that has two, three, four people. 0:18:36.440 --> 0:18:39.240 Maybe we're in the same ernest. 0:18:39.280 --> 0:18:39.679 What's up? 0:18:39.760 --> 0:18:42.239 You ever walk into a small business and everything just 0:18:42.400 --> 0:18:45.560 works like the checkout is fast, or seats of digital 0:18:46.080 --> 0:18:49.080 tipping is a breeze and you're out the door before 0:18:49.080 --> 0:18:53.240 the line even builds. Odds are they're using Square? We 0:18:53.400 --> 0:18:55.919 love supporting businesses that run on Square because it just 0:18:55.960 --> 0:18:59.200 feels seamless. 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Nonetheless, master planning can cost 0:21:33.160 --> 0:21:36.520 anywhere from one hundred and fifty dollars to seven fifty 0:21:36.560 --> 0:21:40.800 an hour, depending on the experience of the master planner, 0:21:41.359 --> 0:21:44.160 and so you could be looking again depending on the 0:21:44.200 --> 0:21:47.199 amount of the pri acreage of the project. Are we 0:21:47.240 --> 0:21:51.159 talking about developing ten acres of land one acre of land? 0:21:51.400 --> 0:21:55.160 Are we talking about developing four hundred acres of land? 0:21:55.640 --> 0:21:59.439 That master plan to lay out those streets, those roads, 0:21:59.800 --> 0:22:03.320 all all of that designed from the information they got 0:22:03.440 --> 0:22:08.720 in discovery, from that topography report. They're gonna do all 0:22:08.720 --> 0:22:10.800 of that and it can cost anywhere from ten to 0:22:10.840 --> 0:22:15.320 fifty thousand or more depending on how much land you 0:22:15.480 --> 0:22:20.919 are getting planned and who the planner is. Design phase 0:22:21.640 --> 0:22:26.760 Designing is the next step to your development process. This 0:22:26.880 --> 0:22:33.040 goes beyond that initial discovery phase intto building homes and 0:22:33.119 --> 0:22:38.800 structures and retail and commercial based on the climate the area, 0:22:39.680 --> 0:22:43.399 the needs of the citizens. Areas that are prone to 0:22:43.520 --> 0:22:47.119 like tornadoes and hurricanes, they will require different kind of 0:22:47.160 --> 0:22:53.960 building materials than places that are by and don't have 0:22:54.040 --> 0:22:59.480 those type of climate changes and issues. So all of 0:22:59.520 --> 0:23:03.000 that can increase the cost of what you're designing. And 0:23:03.240 --> 0:23:06.760 this is where you can make a lot of money 0:23:06.920 --> 0:23:09.359 or lose a lot of money because you can overly 0:23:09.560 --> 0:23:13.159 design and you design something that's too high end for 0:23:13.240 --> 0:23:16.959 the area, and now you're not selling because it was 0:23:17.040 --> 0:23:22.880 not the kind of design for this neighborhood. Community and culture. 0:23:23.560 --> 0:23:29.080 Purchasing land where there's wetlands, deep valleys, other topic, graphical challenges. 0:23:29.119 --> 0:23:32.120 That's going to create larger budgets because now you're talking 0:23:32.160 --> 0:23:35.439 about building bridges and how you lay in your foundation. 0:23:35.680 --> 0:23:38.359 So all of that stuff is a part of the 0:23:38.440 --> 0:23:41.080 design fast and it's going to create and have a 0:23:41.119 --> 0:23:45.320 certain budget that will change according to the complexity of 0:23:45.400 --> 0:23:55.080 the design and the uh, what's the word I want 0:23:55.119 --> 0:24:03.240 to use, the style, the aesthetic of it. Okay, construction 0:24:03.680 --> 0:24:05.720 This is the second to the last stage of the 0:24:05.800 --> 0:24:10.680 rawland development process. In most cases, it's gonna be the first. 0:24:10.760 --> 0:24:15.040 Your horizontal development. That's the grading of your roles, that's 0:24:15.040 --> 0:24:19.840 the curves, that's utilities. Eventually you know you're gonna start 0:24:19.880 --> 0:24:23.679 building the property from the ground up. When you looking 0:24:23.920 --> 0:24:27.560 for a contract or your construction team, they're gonna get 0:24:27.600 --> 0:24:33.840 paid in increments from your construction loan and once they 0:24:33.920 --> 0:24:38.119 have gotten all of the construction done, you're ready to 0:24:38.160 --> 0:24:41.760 go onto the next phase. And construction again can take 0:24:42.240 --> 0:24:48.160 longer timeframes based on the complexity of the design, the 0:24:48.200 --> 0:24:54.240 materials chant leaks in the supply chain or of trying 0:24:54.280 --> 0:24:58.080 to get certain materials to you. If you have certain 0:24:58.080 --> 0:25:02.959 materials that you are using because you're committed to green building, 0:25:03.160 --> 0:25:07.080 or you have a high end design, all of that 0:25:07.200 --> 0:25:11.320 can lead to higher budgets and costs. When you're looking 0:25:11.400 --> 0:25:16.919 for a contractor or contractors. You can google what state, 0:25:17.080 --> 0:25:19.679 what city you're in. If you want to hire you 0:25:19.720 --> 0:25:23.920 know a minority contractor, a black contractor. Google that put 0:25:24.200 --> 0:25:30.919 Georgia Minority Contractors Association, put Florida Black Chamber of Commerce, 0:25:31.480 --> 0:25:39.359 put DC Business League into the results. Call them up 0:25:39.520 --> 0:25:44.000 and find a reputable contractor if you don't already have 0:25:44.160 --> 0:25:50.240 someone you know. In branding and marketing, that's the last 0:25:50.280 --> 0:25:56.359 stage once you've gotten your building done. Before you've gotten 0:25:56.400 --> 0:26:00.000 your buildings done to be perfectly honest, branding and marketing 0:26:00.320 --> 0:26:03.639 is what's going to sell this community that you just 0:26:03.880 --> 0:26:07.600 invested your time, energy and money into. Branding is how 0:26:07.680 --> 0:26:10.400 you sell, tell the story of why you built it, 0:26:10.680 --> 0:26:15.160 and attract your ideal residents to the community. And marketing 0:26:15.359 --> 0:26:19.600 is the active placement of materials and formats that will 0:26:19.640 --> 0:26:22.840 allow them to see that story and get that story 0:26:22.880 --> 0:26:25.600 in front of the masses so i can show you 0:26:25.680 --> 0:26:27.200 better than I can tell you. And I'm going to 0:26:27.280 --> 0:26:31.520 take you to a community right here in Georgia that's dope. 0:26:31.800 --> 0:26:36.080 In marketing, this is called Trillist. This is a community 0:26:36.080 --> 0:26:39.360 that's been being built over the last ten years. It's 0:26:39.440 --> 0:26:44.240 actually a community that was founded by a production studio 0:26:44.480 --> 0:26:50.480 called pine Wood Studios. It's in Fayetteville, Georgia. This marketing 0:26:51.320 --> 0:26:56.560 is what attracts their ideal client. Their values is what 0:26:56.720 --> 0:27:02.080 attracts their ideal client. The community that they are building 0:27:02.640 --> 0:27:07.760 is for makers, entrepreneurs and storytellers where they can for 0:27:07.920 --> 0:27:12.640