#162 with Scott Choppin: How to Get into Land Development From Start to Finish
Millennial Millionaire Real Estate Podcast
English - January 26, 2021 19:00 - 39 minutes - 72.8 MB - ★★★★★ - 56 ratingsInvesting Business Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
In this episode, Jonathan Farber interviews Scott Choppin on his road from learning the real estate trade from the family business to establishing a successful real estate development company that’s going on 20 years strong. Scott is a development investor in Southern California. In this episode, we dig into topics like: learning the housing development process, getting through your first development, why to go with development over other real estate sectors, and more!
Top Takeaways:
Understanding the housing development process - 9:00 - 10:45
The basic model is to buy land, build apartment buildings on the land, and rent the apartments
Finding the right parcels for the specified development is a major part of the job
The apartments are held because the asset that is created is already a cash crop
Creating your first real estate development deal - 13:00 - 18:00
A background in a larger development firm gets you going, especially with life cycle management
Take any experience you already have and figure out how you can apply it - use a known market
Anything that works well is something you should probably do again
The benefits of new development over other investments - 18:15 - 21:15
Development is an even more niche market inside the already niche market of real estate
The fewer competitors you’re up against, the more opportunities you can create
Additionally, because of the blank slate nature, the product can be tailored to the market
How to bring value to Scott Choppin:
Check out his ebook available on his website
Resources:
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