The Beginner’s Guide to Real Estate Development (LOW Money Down!)
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- Опубликовано: 3 июл 2024
- Episode #319
Getting into real estate development with low money down!? Many rookies assume that you need more money to develop, but there are a variety of ways to fund these projects. It all depends on how creative you’re willing to get! Today’s guest learned quickly that you don’t need a huge pile of cash to start building your own properties.
Welcome back to the "Real Estate Rookie" podcast! Today, we’re chatting with Terry Harris-a former professional basketball player turned real estate developer. When we last spoke with Terry, he was wholesaling real estate for a decent profit. Since then, he has transitioned into the development side of real estate and grown his business dramatically. Simply by bringing great land deals to developers and providing a valuable service, Terry was able to learn the ropes and gain enough knowledge to develop his own properties.
Whether you have huge dreams of building city skylines or an end goal of owning a rental property or two, you’ll want to hear Terry’s story. In this episode, he talks about how to find the best land deals, creative ways to fund projects, and how to assemble a top-tier development team. He also touches on our favorite topic as of late, partnerships, and how to bring real value to another investor when you don’t have the capital!
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20 Deals in a Year as a Professional Basketball Player w/ Terry Harris: www.biggerpockets.com/blog/ro...
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Instagram: @terryharris15 or / terryharris15
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Tony: @tonyjrobinson or / tonyjrobinson
Show notes at: www.biggerpockets.com/blog/ro...
00:00 Intro
02:48 Wholesaling Real Estate
08:09 Learning the New Development Ropes
19:20 Building a DREAM Team
30:20 Finding an Architect
33:49 How to Get Into New Development
38:17 $0 Out of Pocket!?
51:16 Rookie Exam
53:32 Connect with Terry!
This podcast makes me obsessed with learning about real estate, it gives so much value and different experiences on how to start out. I cant wait to start my journey.
This was an informative episode with Terry. I’ve always been curious about how to become a developer. This episode gives some clear actionable advice how to achieve the aforementioned desire. Thanks for having Terry on the show again.
Congratulations Terry - very informative interview!
Instant Classic!!! Thank you!
Simply the best info at a great price❤
This show is top shelf! Its so good on so many levels.
Facts it's my favorite as well
Hi. Thank you so much for incredible program. I love it. Learn a lot. Gid bless you all
Thank you , I needed this and it was so informative
Great Podcast and Terry was a very interesting Guest with tons of good insights for me!
Great guest!
Amazing and extremely practical conversation. New subscriber.
Relax, we’re developers, it’s supposed to be fun. 46:38 BINGO 🇺🇸
700 calls wow! He deserves every good thing coming his way.
It also helps that his brother is a multimillionaire brother.
Great information I really needed 🎉 to learn this.
Great video! Building a dream team and understanding the local market are such important steps in real estate development.
Terry's advice on knowing the rules for the area and checking if the property has water and electricity is so useful!
Love the video. Boca Raton probably one of the most expensive places in Florida.
My mind is blown by the prices of the land and fees. They seem so low! 🤔☺
For 1031 into new construction, you need to make sure the timing (180 days after relinquishing your property) can work. Generally soeaking, that is tough. You can get around it by using the 1031 to buy the land. Also the you cannot improve (build onto) land you already own.
The note to talk to a QI is thr moat important thing. They will let you know what your options.
Good show .
That laugh at the 18:33min mark
Lol
Great message
Inspirational
Your guest Terry knows how to tell the story of details in building. I wonder if he tutors?
Ashley, you need a BIGGER 🎤 MICROPHONE?😍
Did he say what his typical ROI or the average ROI for development projects? Any developers have that info? Thanks for another great episode
Real estate has been good to me
For those of you wondering, yes that's Tobias' brother Lol
I was lol
I was like yoooo. Ok it’s makes sense lol.
Thanks 😂
Can you please explain?
I was just about to ask...yeah the striking resemblance
Very insightful conversation! Would anyone know how to contact Terry Harris directly and who is his construction lender?
That's so funny. Congratulations 🎉✍🏾👏🏾 on the book. Tell Mom hi❤.
Tobias Harris brother? woaaah
🔥🔥
Good concepts. Notice there wasn't one peep about timeframes for development. lol
🔥
Like kind means "investment" purpose or "personal" purpose, not the "type" of property.
Have you slowed with real estate slowing?
What was the construction lender he works with?
does anybody have any leads on construction lenders that do 60% LTV with approved plans?
Start calling yourself Antonio Robinson from now on bro
Where did you find 6 to 700 empty pieces of land to call the owners?
I know the typical way that you find places you’re looking to wholesale, but 600/700 is a big number. Were you all over the place or sticking to just a couple areas?
Can I 1031x a property into building new apartments on the same property?
60% LTV? I'm only getting LTC
I think she needs a bigger microphone.
He looks like Tobias Harris (NBA Player)
It's his brother
I wanna be a developer seems fun
Lot of shady contractors. and subs, poor workmanship , do they have a contractors lic ? Workmans comp ins? ,will they finish the job?
@@youtubecarspottersguide1 I’ve been a building engineer for 16 yrs I would definitely do my homework b4 I start working with anyone
It’s better to hire unlicensed guys. If you’re not happy with their work you don’t have to pay them. They also try everything they can to please you so you won’t report them. Licensed guys can put a lien against your property and sue you in court.
@@torsten6777 sounds like those guys are to lazy to finish their work or have to many jobs and hate the business so the sue because they were crooks in the first place. SMH
Why would a developer need someone like this person to buy land ? Why wouldn’t a developer have a person more experienced
You gots to be related to Tobias!?!💯🤷🏾♂️😅
Is this Tobias Harris brother?
No. Tobias brother name is Tyler. I thought this was Tobias before I clicked on the video. LOL
That is his brother lol
@@Nancys_minion221 It's not....
@@qundraygray”He (Tobias) has three brothers, Tyler, T.J. and Terry, and two sisters, Tori and Tesia.”
It’s his brother
His brother made 150 million and scored 0 points in a playoff game I guess he was thinking about his next real a state deal lol
I don't even watch basketball and you do look like a basketball player. I know who you favor. You favor Trae Young.
Wow wish he hadn’t done the interview. These people want everything other people have. What they have is not enough. SMH 😢 the girl is so nervous asking those questions and that’s how you know it’s some $hit in the game. Trying to take all of his secrets. Shameful. Go do your own homework and learn what you need to learn and stop stealing from other people.