Latest / Earn Your Leisure / Study Hall: HOW TO GET MONEY TO BUY LAND

Transcript

Study Hall: HOW TO GET MONEY TO BUY LAND · Earn Your Leisure

• 0:00
  Speaker 1: Behind the delivery trucks that keep your life stocked. Thousands
• 0:03
  Speaker 1: of employees at BP go to work every day. People
• 0:06
  Speaker 1: bringing a new offshore production platform online. People making our
• 0:09
  Speaker 1: refineries capable of more like making renewable diesel from agricultural waste.
• 0:14
  Speaker 1: People trading and shipping fuels to our customers, and people
• 0:18
  Speaker 1: helping truckers fill up and get maintenance at our convenient locations.
• 0:21
  Speaker 1: They're part of almost three hundred thousand jobs VP supports
• 0:25
  Speaker 1: across the country. Learn more at VP dot com. Slash
• 0:28
  Speaker 1: Investing in America.
• 0:30
  Speaker 2: About the money. This is the financing portion of your
• 0:33
  Speaker 2: land and development. We're going to talk about institutional funding,
• 0:36
  Speaker 2: seller financing, private lenders, and crowdfunding institutional funding. This is
• 0:44
  Speaker 2: where the slides get less cute with visuals, right, but
• 0:51
  Speaker 2: it's a serious matter. Farmers dot gov is a website
• 0:55
  Speaker 2: that I want to tell everybody to check out. You
• 0:59
  Speaker 2: might not have any intention of farming, but with what's
• 1:03
  Speaker 2: going on with food sovereignty, being able to purchase land
• 1:08
  Speaker 2: through the USDA and loan products that are available, as
• 1:14
  Speaker 2: well as being able to take advantage of any grants
• 1:19
  Speaker 2: and different things that are available with food sovereignty projects,
• 1:24
  Speaker 2: it's a no brainer. Look into Farmers dot gov. That
• 1:28
  Speaker 2: is a great resource. When you are purchasing land. Institutional
• 1:33
  Speaker 2: funding is your typical funding. That's when you go to
• 1:36
  Speaker 2: Wells Fargo, Bank of America, Chase, or Citizens Trust Bank,
• 1:44
  Speaker 2: Unity Bank and you say, I want to buy this
• 1:49
  Speaker 2: piece of land, I would like to build a home
• 1:52
  Speaker 2: on it, and I would like to sell it. They've
• 1:54
  Speaker 2: got the best rates that it's the hardest to get,
• 1:59
  Speaker 2: so you're going to need to speak to multiple lenders,
• 2:01
  Speaker 2: and you're going to do best by starting with a
• 2:04
  Speaker 2: bank that you already have a relationship with. So this
• 2:08
  Speaker 2: goes without saying, before you try your hand at investing
• 2:12
  Speaker 2: in any land, you should be credit worthy. You should
• 2:16
  Speaker 2: have an exceptional credit score. You should have money and
• 2:20
  Speaker 2: savings in the bank. At least, you know, twenty five
• 2:23
  Speaker 2: percent of your disposable income should be saved in the
• 2:27
  Speaker 2: bank before you start buying land and investing in this way. Yes,
• 2:33
  Speaker 2: you can buy affordable land at affordable prices cash outright,
• 2:40
  Speaker 2: and if that's the strategy you want to do, by
• 2:43
  Speaker 2: all means do it. But if you're going to do
• 2:46
  Speaker 2: a development project of scale, you're going to need institutional funding.
• 2:51
  Speaker 2: And to get the best rates and to even be
• 2:54
  Speaker 2: considered by a traditional lender, you are going to need
• 2:58
  Speaker 2: exceptional credit and experience that track record. Again, there's ways
• 3:04
  Speaker 2: to get around it if you don't have a track
• 3:07
  Speaker 2: record and no one on your team has a track record.
• 3:10
  Speaker 2: By partnering strategically with your constructor your excuse me, your builder,
• 3:16
  Speaker 2: your developer, speak with multiple lenders. Set up your LLC again,
• 3:22
  Speaker 2: talk to that strategy, that business consultant, that strategist, that
• 3:26
  Speaker 2: business attorney. Put your LLC into position by having the best,
• 3:33
  Speaker 2: most credit worthy people on your LLC, people who have
• 3:37
  Speaker 2: experience in maybe they have been a general contractor if
• 3:43
  Speaker 2: you have someone in your family or in your friend group,
• 3:46
  Speaker 2: use the people who are in the best position to
• 3:50
  Speaker 2: be able to go after institutional funding. If you do that,
• 3:56
  Speaker 2: seller financing is the better option if you know you'd
• 4:01
  Speaker 2: have less than perfect credit.
• 4:07
  Speaker 3: No ash, hold on ask because we got to hear that.
• 4:12
  Speaker 3: We gotta hear that. The good folks that zoom something
• 4:15
  Speaker 3: your sound kIPS going in and.
• 4:17
  Speaker 4: Out, they're trying to sensor you like your sound your asking,
• 4:21
  Speaker 4: can you repeat that because your sound yourself is cutting
• 4:24
  Speaker 4: off like every like ten minutes for like a minute.
• 4:26
  Speaker 5: I don't know.
• 4:26
  Speaker 4: I don't know what's going on, but can you can
• 4:30
  Speaker 4: you start back at the beginning of seller financing please?
• 4:32
  Speaker 3: We can't. We can't let that go on muted.
• 4:34
  Speaker 2: Yes, I apologize. I probably have an unstable internet connection.
• 4:39
  Speaker 4: It's all good any anytime, anytime. Let you do that again,
• 4:42
  Speaker 4: because we don't want anybody to miss any information. Like
• 4:45
  Speaker 4: when your sound goes out, we'll just start talking because
• 4:48
  Speaker 4: it's usually like only for like thirty seconds, So then
• 4:50
  Speaker 4: we'll start talking and then we could just bring you
• 4:52
  Speaker 4: back into just so whenever you hear it start talking,
• 4:55
  Speaker 4: just know that your sound cut out, and then we'll
• 4:57
  Speaker 4: just bring you back in when your sound comes back on.
• 4:59
  Speaker 3: Yeah, because I got my know to ash and I'm like, wait,
• 5:01
  Speaker 3: what just happened?
• 5:04
  Speaker 5: Get the information? Hook a crook man, that's a fact.
• 5:07
  Speaker 3: Shout out to every Shout out to everybody that has
• 5:09
  Speaker 3: their hand raise.
• 5:10
  Speaker 5: We're gonna get to that.
• 5:10
  Speaker 3: When Ashley fins with the presentation, we see the questions,
• 5:13
  Speaker 3: We're gonna get to that, all.
• 5:14
  Speaker 2: Right, bet seller financing. What I was saying is it's
• 5:18
  Speaker 2: usually a better option because seller financing typically does not
• 5:24
  Speaker 2: report to the credit bureaus. Sellers typically just want to
• 5:30
  Speaker 2: get their money, and as long as you pay them,
• 5:32
  Speaker 2: they have no reason to report to the credit bureaus.
• 5:35
  Speaker 2: So that means your debt to income racial is not
• 5:39
  Speaker 2: going to change because that debt that you have on
• 5:42
  Speaker 2: that land is not going to be reported, so you
• 5:46
  Speaker 2: know it, but nobody else is gonna know it. So
• 5:49
  Speaker 2: seller financing means you could go and put loans out
• 5:52
  Speaker 2: on twenty properties real quick and start flipping them on
• 5:56
  Speaker 2: how you might see it as an opportunity, and your
• 5:58
  Speaker 2: debt to income reach is not going to change, and
• 6:02
  Speaker 2: you'll be able to move on your projects or get
• 6:06
  Speaker 2: institutional funding as needed or additional credit cards as needed
• 6:11
  Speaker 2: without these land deals being on your credit report and
• 6:15
  Speaker 2: pulling your debt to income ratio to a lower score.
• 6:21
  Speaker 2: So with seller financing is scamming season, so be careful.
• 6:28
  Speaker 2: People will put a picture of a property up at
• 6:31
  Speaker 2: like they are the seller and you go and you're like, oh,
• 6:35
  Speaker 2: I just bought twenty five acres for five stacks, and
• 6:39
  Speaker 2: you did not just buy twenty five acres for five stacks.
• 6:43
  Speaker 2: So make sure you are doing your due diligence, that
• 6:46
  Speaker 2: you're checking the tax records to make sure that the
• 6:51
  Speaker 2: person who says that they are the owner the seller
• 6:54
  Speaker 2: is the seller. Check with the listing agent, make sure
• 6:58
  Speaker 2: that the listing agent is is an official broker. And
• 7:02
  Speaker 2: you protect yourself in every former fashion by going through
• 7:07
  Speaker 2: a closing attorney on your seller financing deal. That's how
• 7:12
  Speaker 2: you cover your assets. Okay, don't go do a seller
• 7:17
  Speaker 2: financing deal straight up, and you might not actually end
• 7:22
  Speaker 2: up buying this land, unless, of course, you are again
• 7:26
  Speaker 2: a season investor, a season real estate investor that's used
• 7:30
  Speaker 2: to buying properties and putting deeds in at the text
• 7:34
  Speaker 2: assessor's office and with the court in the county. If
• 7:38
  Speaker 2: that's not you, you need a real estate agent and you
• 7:41
  Speaker 2: need a close an attorney to ensure that your transaction
• 7:45
  Speaker 2: with the seller goes through smoothly. Another note, with seller financing,
• 7:50
  Speaker 2: or what's also known as owner financing, you negotiate with
• 7:59
  Speaker 2: the You can negotiate what you want and they can
• 8:05
  Speaker 2: negotiate what they need. So it could be a twenty
• 8:09
  Speaker 2: percent down payment, it could be a fifty percent down payment.
• 8:13
  Speaker 2: It can be a flat monthly rate of interest only
• 8:17
  Speaker 2: with a balloon payment at the end. So make sure
• 8:20
  Speaker 2: that you do good negotiating so that you get the
• 8:24
  Speaker 2: best financing terms possible, so that you don't end up
• 8:29
  Speaker 2: overpaying for this price of land. Because if that's the case,
• 8:33
  Speaker 2: you hustling backwards. So negotiate. Make sure that you got
• 8:38
  Speaker 2: your best negotiator doing the negotiating, and you don't lose
• 8:42
  Speaker 2: your shirt because you're financing a an exorberate interest rate,
• 8:47
  Speaker 2: you're putting too much money down. Any of those things
• 8:50
  Speaker 2: can be a bad situation. So negotiate, negotiate, negotiate, and
• 8:56
  Speaker 2: make sure final note that the owner owns the property
• 9:00
  Speaker 2: the outright. Ideally, if the owner doesn't own the property outright,
• 9:05
  Speaker 2: don't buy it. If the property itself has a mortgage
• 9:10
  Speaker 2: on it, that's going to be more than the down
• 9:14
  Speaker 2: payment you're going to pay, because when you pay that
• 9:17
  Speaker 2: down payment, you want that down payment to clear the mortgage.
• 9:21
  Speaker 2: No out that way, you can end up with the
• 9:24
  Speaker 2: deed in your name. From that moment you leave the
• 9:28
  Speaker 2: closing table, that deed being in your name means it's
• 9:32
  Speaker 2: your property. You can get USDA farm benefits, you can
• 9:40
  Speaker 2: get all of the things that you need. But as
• 9:42
  Speaker 2: long as there's a mortgage on that property, in that
• 9:45
  Speaker 2: seller's name. This deal is a no go in most states.
• 9:49
  Speaker 2: You can't have a property and sell it while you
• 9:53
  Speaker 2: still have a mortgage on it, So be mindful that
• 9:57
  Speaker 2: that mortgage needs to get cleared, and if it can't
• 10:00
  Speaker 2: get cleared, it needs to be assumed, and you need
• 10:03
  Speaker 2: to go through the process of legally assuming that mortgage
• 10:06
  Speaker 2: with the mortgage holder and do it the right way
• 10:10
  Speaker 2: because you do not want to lose your money. Private
• 10:14
  Speaker 2: money lenders highest interest rates, hands down, that's not the
• 10:19
  Speaker 2: way to go if you can avoid it, but it's
• 10:21
  Speaker 2: easier to get most cases. It's based on the deal.
• 10:26
  Speaker 2: And you can also get private money from family and
• 10:29
  Speaker 2: friends if you are lucky enough to have people who
• 10:32
  Speaker 2: are financially Asstoote and who have savings and are interested
• 10:38
  Speaker 2: and able to invest in deals like landdills and new
• 10:44
  Speaker 2: construction opportunities. So if you have somebody in your circle,
• 10:49
  Speaker 2: go get that private money first. Negotiate, negotiate, negotiate, win
• 10:54
  Speaker 2: when right, And if you don't have private money of
• 10:59
  Speaker 2: ail to you in your own personal network, you can
• 11:03
  Speaker 2: go to a hard money lender. Hard money lenders are
• 11:06
  Speaker 2: essentially borrowing the money of all the people in their network.
• 11:11
  Speaker 2: To be able to make loans to you at exorberant
• 11:15
  Speaker 2: interest rates. A good interest rate for somebody who has
• 11:21
  Speaker 2: a pretty good credit score who wants to bus and
• 11:24
  Speaker 2: move before their business has been in business for at
• 11:27
  Speaker 2: least six months. Because typically all of these financing options,
• 11:31
  Speaker 2: except for seller financing, you're gonna want to be in
• 11:35
  Speaker 2: business for at least six months, unless you are doing
• 11:37
  Speaker 2: a farming business in which you can use a USDA
• 11:41
  Speaker 2: startup loan to fund your land purchase and your farming
• 11:46
  Speaker 2: operational expenses. But otherwise you are going to need to
• 11:53
  Speaker 2: have been in business for at least six months, unless
• 11:57
  Speaker 2: you're again going with a hard money lender. If not
• 12:01
  Speaker 2: your heart, your heart money lender is going to look
• 12:03
  Speaker 2: at the credit score of the primary or the managing partner.
• 12:09
  Speaker 2: If that person has like a seven hundred credit score
• 12:12
  Speaker 2: or better, you don't have to have been in business
• 12:14
  Speaker 2: for six months. Again, Typically the deal will dictate the
• 12:20
  Speaker 2: private money lenders situation where you might not need to
• 12:23
  Speaker 2: have good credit, but you definitely need to go and
• 12:28
  Speaker 2: have these conversations again negotiating with your private money lenders.
• 12:32
  Speaker 2: My favorite private money lender is direct lending Partners. They
• 12:37
  Speaker 2: typically do not do deals on land. Most private money
• 12:42
  Speaker 2: lenders or hard money lenders do not do deals on
• 12:46
  Speaker 2: just land. But again, this is America. Anything is possible
• 12:51
  Speaker 2: when you negotiate and open your mouth. Crowdfunding less hoops,
• 12:56
  Speaker 2: less successful crowdfunding. When we started our when we decided
• 13:03
  Speaker 2: to purchase land and we were looking at Toomsboro, we
• 13:07
  Speaker 2: went on to go fund me and we looked and
• 13:10
  Speaker 2: seen about fifteen or twenty crowdfunding campaigns of people trying
• 13:18
  Speaker 2: to fundraise the one point seven million dollars for the
• 13:23
  Speaker 2: city of Toombsboro. Right, crickets on all of the on
• 13:26
  Speaker 2: all of the crowdfunding like, nobody raised more than like
• 13:30
  Speaker 2: a thousand dollars on any of these crowdfunding website on
• 13:35
  Speaker 2: this GoFundMe. So crowdfunding, while everybody gets really excited about
• 13:40
  Speaker 2: it as an option, it's not usually successful unless you're
• 13:45
  Speaker 2: very strategic and you have a huge marketing campaign and
• 13:49
  Speaker 2: a great story. We were able to raise over eighty
• 13:52
  Speaker 2: seven thousand, We're almost close to our eighty eight thousand
• 13:56
  Speaker 2: dollars goal. And we used that as a kind of
• 13:59
  Speaker 2: like a building fun where we were able to clear
• 14:02
  Speaker 2: our land and put down gravel and you know, lay
• 14:06
  Speaker 2: down areas for us to do our uh pavilions and
• 14:13
  Speaker 2: our stages and all those types of things. And so
• 14:17
  Speaker 2: that was a long and hard process to raise eighty
• 14:20
  Speaker 2: eight thousand dollars and we still haven't reached our goal.
• 14:23
  Speaker 2: So I crowdfunding is an option. It doesn't take a
• 14:28
  Speaker 2: lot other than a strong story and marketing campaign, but
• 14:32
  Speaker 2: they don't tend to go as far or be as
• 14:35
  Speaker 2: successful as you would like them to be. And it
• 14:37
  Speaker 2: takes a ton of money to be able to genuinely
• 14:41
  Speaker 2: develop large projects, especially when they don't have, you know,
• 14:46
  Speaker 2: connection to certain infrastructure. So crowdfunding is definitely a later choice.
• 14:53
  Speaker 2: And then there is regulation crowdfunding, which you can raise
• 14:58
  Speaker 2: up to one million and seventy thousand dollars. I'm not
• 15:02
  Speaker 2: very familiar with crowdfunding, and I would love if Troy
• 15:08
  Speaker 2: and Rashad could get somebody who has done some crowdfunding
• 15:13
  Speaker 2: in the EYL University at some point, because.
• 15:16
  Speaker 4: Yeah, yeah, we did Chrisinegal Chrisinegal, and I'm sure he'll
• 15:20
  Speaker 4: come back again and get he could do it.
• 15:22
  Speaker 5: We can do a class on crowdfunding for sure.
• 15:24
  Speaker 2: Yeah.
• 15:24
  Speaker 4: Yeah, he had a very he had a very successful
• 15:26
  Speaker 4: crowdfunding campaign that they raised over a million dollars.
• 15:29
  Speaker 2: See what I'm saying. So we I can't speak to that,
• 15:32
  Speaker 2: but that right there, this is how we really start
• 15:36
  Speaker 2: to develop land. Deal. So that's something that you guys
• 15:41
  Speaker 2: are gonna come back, have to become earners and come
• 15:43
  Speaker 2: back and get this class when it comes. All right,
• 15:48
  Speaker 2: So let's get to the bill. The discovery period. There's
• 15:53
  Speaker 2: a master planning period, there's a design phase of construction
• 15:58
  Speaker 2: and marketing. Discovery starting from scratch means you need to
• 16:04
  Speaker 2: discover the limitations and the restrictions of the land. I
• 16:08
  Speaker 2: saw somebody in the comments say something about feasibility studies.
• 16:15
  Speaker 2: That's this moment of discovery. Right. You can do a
• 16:19
  Speaker 2: feasibility study before you buy the land, but that's a
• 16:24
  Speaker 2: whole lot of money to put into something and then
• 16:27
  Speaker 2: decide not to buy it or go forth. If you
• 16:32
  Speaker 2: study the area, you do your due diligence, you know
• 16:35
  Speaker 2: what's happening in the community, You've got a clear vision
• 16:39
  Speaker 2: when you purchase that land. You can do your feasibility
• 16:43
  Speaker 2: study after the fact. Because developing land is really a
• 16:49
  Speaker 2: lengthy process. It's not an overnight success type situation. It's
• 16:54
  Speaker 2: going to cause for a civil engineer to come in
• 16:57
  Speaker 2: to study the grating and the slopes of the land.
• 17:00
  Speaker 2: There's gonna be someone who goes and drills into the
• 17:03
  Speaker 2: dirt to see how much weight the dirt can withstand,
• 17:08
  Speaker 2: so you know how high you can build and what
• 17:12
  Speaker 2: you can build, and what kind of materials there's gonna
• 17:15
  Speaker 2: be best based on the climate. I'm skipping ahead, but
• 17:19
  Speaker 2: ultimately this discovery period is where you're gonna get your
• 17:24
  Speaker 2: topographical survey done and you're gonna want to understand the
• 17:28
  Speaker 2: demographics of the area. Again, what the median income is,
• 17:33
  Speaker 2: are people graduating from college? Is the crime rates high?
• 17:38
  Speaker 2: All of that good stuff. So that is your discovery period,
• 17:43
  Speaker 2: your master planning period. This is where you're a person
• 17:47
  Speaker 2: that you hired as your master planner looks at where
• 17:51
  Speaker 2: we're gonna put everything at the infrastructure and the roads.
• 17:55
  Speaker 2: Ingress and egress means how you go into the neighborhood,
• 17:59
  Speaker 2: how you go out of the neighborhood, how you go
• 18:01
  Speaker 2: into your driveway, how you go out of your driveway,
• 18:05
  Speaker 2: waste management, stormwater runoff. They're gonna plan all of these things.
• 18:11
  Speaker 2: You are not the person that does that. There's a
• 18:15
  Speaker 2: master planner, a developer or architect, a civil engineer. There
• 18:19
  Speaker 2: are a team of experts that sit down and do
• 18:23
  Speaker 2: your master planning if you're doing a large scale project.
• 18:27
  Speaker 2: If you're doing a smaller scale project, you still need
• 18:30
  Speaker 2: the same people, but you might be able to work
• 18:32
  Speaker 2: with a boutique company that has two, three, four people.
• 18:36
  Speaker 2: Maybe we're in the same ernest.
• 18:39
  Speaker 5: What's up?
• 18:39
  Speaker 3: You ever walk into a small business and everything just
• 18:42
  Speaker 3: works like the checkout is fast, or seats of digital
• 18:46
  Speaker 3: tipping is a breeze and you're out the door before
• 18:49
  Speaker 3: the line even builds. Odds are they're using Square? We
• 18:53
  Speaker 3: love supporting businesses that run on Square because it just
• 18:55
  Speaker 3: feels seamless. Whether it's a local coffee shop, a vendor
• 18:59
  Speaker 3: at a pop up market, or even one of our
• 19:01
  Speaker 3: merch partners. Square makes it easy for them to take payments,
• 19:05
  Speaker 3: manage inventory, and run their business with confidence, all from
• 19:09
  Speaker 3: one simple system. If you're a business owner or even
• 19:12
  Speaker 3: just thinking about launching something soon, Square is hands down
• 19:16
  Speaker 3: one of the best tools out there to help you start,
• 19:19
  Speaker 3: run and grow. It's not just about payments, it's about
• 19:22
  Speaker 3: giving you time back so you can focus on what
• 19:25
  Speaker 3: matters most ready to see how Square can transform your business.
• 19:29
  Speaker 3: Visit Square dot com backslash go backslash eyl to learn
• 19:33
  Speaker 3: more that Square dot com backslash, go backslash eyl. Don't wait,
• 19:39
  Speaker 3: don't hesitate. Let's Square handle the back end so you
• 19:42
  Speaker 3: can keep pushing your vision forward. This episode is brought
• 19:48
  Speaker 3: to you by P and C Bank. A lot of
• 19:50
  Speaker 3: people think podcasts about work are boring, and sure, they
• 19:54
  Speaker 3: definitely can be, but understanding a professionals routine shows us
• 19:58
  Speaker 3: how they achieve their success little by li, day after day.
• 20:02
  Speaker 3: It's like banking with P and C Bank. It might
• 20:05
  Speaker 3: seem boring to safe plan and make calculated decisions with
• 20:08
  Speaker 3: your bank, but keeping your money boring is what helps
• 20:11
  Speaker 3: you live or more happily fulfilled life. P and C
• 20:14
  Speaker 3: Bank Brilliantly Boring since eighteen sixty five. Brilliantly Boring since
• 20:19
  Speaker 3: eighteen sixty five is a service mark of the PNC
• 20:22
  Speaker 3: Financial Service Group, Inc. P and C Bank National Association
• 20:26
  Speaker 3: Member FDIC.
• 20:29
  Speaker 6: You just realized your business needed to hire someone yesterday?
• 20:34
  Speaker 6: How can you find amazing candidates fast? Easy? Just use indeed,
• 20:39
  Speaker 6: stop struggling to get your job? Posts seen on other
• 20:42
  Speaker 6: job sites with Indeed sponsored jobs, your post jumps to
• 20:45
  Speaker 6: the top of the page for your relevant candidates, so
• 20:48
  Speaker 6: you can reach the people you want faster. According to
• 20:51
  Speaker 6: Indeed data, sponsored jobs posted directly on Indeed have forty
• 20:55
  Speaker 6: five percent more applications than non sponsored jobs. Don't wait
• 20:59
  Speaker 6: any longer, speed up your hiring right now with Indeed,
• 21:03
  Speaker 6: and listeners of this show will get a seventy five
• 21:05
  Speaker 6: dollars sponsored job credit to get your jobs more visibility
• 21:08
  Speaker 6: at indeed dot com slash pod Katz thirteen. Just go
• 21:14
  Speaker 6: to indeed dot com slash pod katz thirteen right now
• 21:19
  Speaker 6: and support our show by saying you heard about Indeed
• 21:22
  Speaker 6: on this podcast. Terms and conditions apply. Hiring Indeed is
• 21:26
  Speaker 6: all you need.
• 21:28
  Speaker 2: Hats, but master planning happens. Nonetheless, master planning can cost
• 21:33
  Speaker 2: anywhere from one hundred and fifty dollars to seven fifty
• 21:36
  Speaker 2: an hour, depending on the experience of the master planner,
• 21:41
  Speaker 2: and so you could be looking again depending on the
• 21:44
  Speaker 2: amount of the pri acreage of the project. Are we
• 21:47
  Speaker 2: talking about developing ten acres of land one acre of land?
• 21:51
  Speaker 2: Are we talking about developing four hundred acres of land?
• 21:55
  Speaker 2: That master plan to lay out those streets, those roads,
• 21:59
  Speaker 2: all all of that designed from the information they got
• 22:03
  Speaker 2: in discovery, from that topography report. They're gonna do all
• 22:08
  Speaker 2: of that and it can cost anywhere from ten to
• 22:10
  Speaker 2: fifty thousand or more depending on how much land you
• 22:15
  Speaker 2: are getting planned and who the planner is. Design phase
• 22:21
  Speaker 2: Designing is the next step to your development process. This
• 22:26
  Speaker 2: goes beyond that initial discovery phase intto building homes and
• 22:33
  Speaker 2: structures and retail and commercial based on the climate the area,
• 22:39
  Speaker 2: the needs of the citizens. Areas that are prone to
• 22:43
  Speaker 2: like tornadoes and hurricanes, they will require different kind of
• 22:47
  Speaker 2: building materials than places that are by and don't have
• 22:54
  Speaker 2: those type of climate changes and issues. So all of
• 22:59
  Speaker 2: that can increase the cost of what you're designing. And
• 23:03
  Speaker 2: this is where you can make a lot of money
• 23:06
  Speaker 2: or lose a lot of money because you can overly
• 23:09
  Speaker 2: design and you design something that's too high end for
• 23:13
  Speaker 2: the area, and now you're not selling because it was
• 23:17
  Speaker 2: not the kind of design for this neighborhood. Community and culture.
• 23:23
  Speaker 2: Purchasing land where there's wetlands, deep valleys, other topic, graphical challenges.
• 23:29
  Speaker 2: That's going to create larger budgets because now you're talking
• 23:32
  Speaker 2: about building bridges and how you lay in your foundation.
• 23:35
  Speaker 2: So all of that stuff is a part of the
• 23:38
  Speaker 2: design fast and it's going to create and have a
• 23:41
  Speaker 2: certain budget that will change according to the complexity of
• 23:45
  Speaker 2: the design and the uh, what's the word I want
• 23:55
  Speaker 2: to use, the style, the aesthetic of it. Okay, construction
• 24:03
  Speaker 2: This is the second to the last stage of the
• 24:05
  Speaker 2: rawland development process. In most cases, it's gonna be the first.
• 24:10
  Speaker 2: Your horizontal development. That's the grading of your roles, that's
• 24:15
  Speaker 2: the curves, that's utilities. Eventually you know you're gonna start
• 24:19
  Speaker 2: building the property from the ground up. When you looking
• 24:23
  Speaker 2: for a contract or your construction team, they're gonna get
• 24:27
  Speaker 2: paid in increments from your construction loan and once they
• 24:33
  Speaker 2: have gotten all of the construction done, you're ready to
• 24:38
  Speaker 2: go onto the next phase. And construction again can take
• 24:42
  Speaker 2: longer timeframes based on the complexity of the design, the
• 24:48
  Speaker 2: materials chant leaks in the supply chain or of trying
• 24:54
  Speaker 2: to get certain materials to you. If you have certain
• 24:58
  Speaker 2: materials that you are using because you're committed to green building,
• 25:03
  Speaker 2: or you have a high end design, all of that
• 25:07
  Speaker 2: can lead to higher budgets and costs. When you're looking
• 25:11
  Speaker 2: for a contractor or contractors. You can google what state,
• 25:17
  Speaker 2: what city you're in. If you want to hire you
• 25:19
  Speaker 2: know a minority contractor, a black contractor. Google that put
• 25:24
  Speaker 2: Georgia Minority Contractors Association, put Florida Black Chamber of Commerce,
• 25:31
  Speaker 2: put DC Business League into the results. Call them up
• 25:39
  Speaker 2: and find a reputable contractor if you don't already have
• 25:44
  Speaker 2: someone you know. In branding and marketing, that's the last
• 25:50
  Speaker 2: stage once you've gotten your building done. Before you've gotten
• 25:56
  Speaker 2: your buildings done to be perfectly honest, branding and marketing
• 26:00
  Speaker 2: is what's going to sell this community that you just
• 26:03
  Speaker 2: invested your time, energy and money into. Branding is how
• 26:07
  Speaker 2: you sell, tell the story of why you built it,
• 26:10
  Speaker 2: and attract your ideal residents to the community. And marketing
• 26:15
  Speaker 2: is the active placement of materials and formats that will
• 26:19
  Speaker 2: allow them to see that story and get that story
• 26:22
  Speaker 2: in front of the masses so i can show you
• 26:25
  Speaker 2: better than I can tell you. And I'm going to
• 26:27
  Speaker 2: take you to a community right here in Georgia that's dope.
• 26:31
  Speaker 2: In marketing, this is called Trillist. This is a community
• 26:36
  Speaker 2: that's been being built over the last ten years. It's
• 26:39
  Speaker 2: actually a community that was founded by a production studio
• 26:44
  Speaker 2: called pine Wood Studios. It's in Fayetteville, Georgia. This marketing
• 26:51
  Speaker 2: is what attracts their ideal client. Their values is what
• 26:56
  Speaker 2: attracts their ideal client. The community that they are building
• 27:02
  Speaker 2: is for makers, entrepreneurs and storytellers where they can for
• 27:07
  Speaker 2: fine fulfillment in every way. This is branding a community
• 27:12
  Speaker 2: tailor made for storytellers. Well, it was a studio that
• 27:17
  Speaker 2: purchased land built it up, similar to what Tyler Perry
• 27:21
  Speaker 2: did when he purchased land in East Point to build
• 27:24
  Speaker 2: Tyler Perry's studios. They built a community that's that economic development.
• 27:30
  Speaker 2: It's got restaurants in there, homes and so when you
• 27:36
  Speaker 2: are considering land development and what you're buying, things happen
• 27:42
  Speaker 2: in phases. And so I wanted to show you this
• 27:45
  Speaker 2: because when you start talking about doing a land project,
• 27:48
  Speaker 2: you have to have vision and you have to know
• 27:50
  Speaker 2: where you're going. So I wanted to show you guys
• 27:53
  Speaker 2: Trellis and I'm going to show you got close that door,
• 27:56
  Speaker 2: please star, thank you, Yes and Sarambi, Georgia. Again marketing,
• 28:08
  Speaker 2: it just looks like the kind of place where you
• 28:11
  Speaker 2: want to live. Right, They got goats. So when you
• 28:15
  Speaker 2: start thinking about your project, begin with the end in mind,
• 28:20
  Speaker 2: and think about who's going to live here, and build
• 28:23
  Speaker 2: for them, and build in a way that the story
• 28:26
  Speaker 2: is compelling. That's what we're doing with Freedom Georgia. All
• 28:31
  Speaker 2: right now, I'm going to take you guys to the
• 28:35
  Speaker 2: final stage, and I got three minutes before we go
• 28:38
  Speaker 2: to questions, some insight and inspiration. Don't wait for opportunities
• 28:42
  Speaker 2: to come, get up and make them, Madam CJ. Walker.
• 28:47
  Speaker 2: The charter chartering a city. Listen, if you are interested
• 28:53
  Speaker 2: in chartering a city, hit me up. But the reality is,
• 28:57
  Speaker 2: as we begin to be more strategic and work these
• 29:00
  Speaker 2: ideas and principles of group economics and collective economics, and
• 29:06
  Speaker 2: we're building collectively communities that are safe, that are thriving,
• 29:11
  Speaker 2: the logical next step is a city charter. A city
• 29:15
  Speaker 2: charter is going to open you up for benefits that
• 29:19
  Speaker 2: will give you more control over your community long term.
• 29:24
  Speaker 2: When it comes to how your community is developed, police,
• 29:29
  Speaker 2: the zoning, the ordinances, the health outcomes, how money that
• 29:34
  Speaker 2: gets sent down from the federal government to the state
• 29:38
  Speaker 2: government gets distributed is based on these cities and their
• 29:45
  Speaker 2: populations and density. So we really got to look at
• 29:50
  Speaker 2: how being a city and taking these developments where we're
• 29:55
  Speaker 2: building our own infrastructure, building our own culture of shared
• 29:59
  Speaker 2: value values. Then we turn go to the next step,
• 30:03
  Speaker 2: which is a city charter and electing officials who are
• 30:10
  Speaker 2: going to represent our values and do what's best for
• 30:15
  Speaker 2: the residents that live in this city. This is called placemaking,
• 30:20
  Speaker 2: is what we're doing. It's not just about land developing.
• 30:23
  Speaker 2: This is about making places where people feel safe, where
• 30:27
  Speaker 2: people have peace, protection, prosperity, and a city is a
• 30:33
  Speaker 2: government structure that allows that to actually happen. So that's
• 30:37
  Speaker 2: our next step. That's what we're going with this. So
• 30:40
  Speaker 2: get strategic, work together with your comrades, with your partners,
• 30:44
  Speaker 2: with your like minded business folks in the area, get
• 30:47
  Speaker 2: with your economic development authority, get with your black Chambers
• 30:53
  Speaker 2: of commerces, and let's start building these cities according to
• 30:58
  Speaker 2: our needs, our design. This is how we be strategic.
• 31:02
  Speaker 4: That was powerful, Thank you, Thank you. That was That
• 31:05
  Speaker 4: was an amazing presentation. So I don't want people to
• 31:08
  Speaker 4: take that lightly. It's like, you know, for all the
• 31:12
  Speaker 4: years that we go to school, whether it's elementary, high school, college,
• 31:18
  Speaker 4: even master degree programs, me personally. I never, you know,
• 31:23
  Speaker 4: was taught the process of buying land and this stuff is.
• 31:27
  Speaker 4: You would think that this would be one of the
• 31:29
  Speaker 4: key things that would consist of an educational experience because
• 31:33
  Speaker 4: we all have to live somewhere and land is the
• 31:36
  Speaker 4: key component of the planet Earth. And it never, it
• 31:40
  Speaker 4: never was actually taught to ninety nine percent of us.
• 31:44
  Speaker 4: So it's amazing that you were able to come on
• 31:49
  Speaker 4: here and teach this, and we're thankful, so thank you
• 31:53
  Speaker 4: for that. And you know, it's also amazing that we
• 31:56
  Speaker 4: was able just to even have this platform to actually
• 31:59
  Speaker 4: educate people. And it's a very encouraging thing and I'm
• 32:03
  Speaker 4: sure everybody is extremely appreciative of it, but do not
• 32:06
  Speaker 4: take it for granted. Sometimes when you when you get
• 32:08
  Speaker 4: things and it's free, you don't fully appreciate it. But
• 32:12
  Speaker 4: it's like, you know, this could have been Harvard, this
• 32:14
  Speaker 4: could have been Yale, this could have been any any.
• 32:17
  Speaker 5: Level of education.
• 32:18
  Speaker 4: I would uh, I would argue that this was this
• 32:21
  Speaker 4: was right up there and better than when anybody else
• 32:25
  Speaker 4: could have done, whether Oxford, anywhere in the world. So
• 32:29
  Speaker 4: that's that's extremely powerful. And now, like I said, this
• 32:31
  Speaker 4: kind of information can literally change the trajectory of our
• 32:37
  Speaker 4: you know, existence in this country and is something that
• 32:41
  Speaker 4: we have not known about for hundreds of years, for centuries.
• 32:45
  Speaker 4: So now that we're coming into this information, it's important
• 32:49
  Speaker 4: that a we learn as much as possible, we apply it,
• 32:53
  Speaker 4: and also we work together as a group. So yeah,
• 32:56
  Speaker 4: that's that's something that is extremely extremely powerful.
• 32:59
  Speaker 5: So once thank you. So what we're gonna what.
• 33:02
  Speaker 4: We're gonna go into now is question answers for about
• 33:04
  Speaker 4: twenty minutes. So once again, if anybody joined late, this
• 33:08
  Speaker 4: is a special edition of eyl University, so once a month,
• 33:12
  Speaker 4: every single month. So with eyl University, we're educational platform.
• 33:16
  Speaker 4: Outside of what you see on the podcast. The podcasts
• 33:19
  Speaker 4: are episodes where you learn a lot. This is more
• 33:23
  Speaker 4: of a hands on learning experience. So every single Wednesday
• 33:27
  Speaker 4: at eight o'clock Eastern Standard time, we bring experts from
• 33:31
  Speaker 4: the field in and they teach a class via zoom
• 33:34
  Speaker 4: and it's on everything everything from how to wholesale real estate,
• 33:38
  Speaker 4: to how to analyze the real estate, they'll investing, cryptocurrency,
• 33:43
  Speaker 4: you name it.
• 33:43
  Speaker 5: We've had a class and we're going to have more classes.
• 33:46
  Speaker 4: And then that's every week and then every other Sunday
• 33:51
  Speaker 4: is our book club headed up by Troy, and then
• 33:55
  Speaker 4: the alternate Sunday is MG no mortgage guy. He has
• 33:58
  Speaker 4: a real estate call and then once a month I
• 34:01
  Speaker 4: do a financial planning call. So those are all the
• 34:04
  Speaker 4: things that are in existence of Eyo University now right now.
• 34:08
  Speaker 4: But as I said, we're actually we're putting Eyo University
• 34:12
  Speaker 4: the undergrad department as you know it. We're gonna we're
• 34:15
  Speaker 4: gonna end it. This is this will be the last
• 34:16
  Speaker 4: week of Eyo University as you know it. We're taking
• 34:20
  Speaker 4: a win a break for two weeks and then we're
• 34:21
  Speaker 4: coming back in twenty twenty one. We're coming back in
• 34:23
  Speaker 4: twenty twenty one with a whole new, revamped product. We're
• 34:27
  Speaker 4: gonna have a professor series where we're bringing in experts
• 34:31
  Speaker 4: to teach classes four times a year. So it's not
• 34:34
  Speaker 4: just gonna be one off because sometimes it's hard to
• 34:36
  Speaker 4: learn with just a one off class.
• 34:38
  Speaker 5: So we're gonna do four different classes. Business is gonna.
• 34:41
  Speaker 4: Teach about taxes, ash cash, You gonna teach about financial literacy.
• 34:44
  Speaker 4: Brandon Rule will teach about real estates, so Being will
• 34:47
  Speaker 4: teach about all things legal. Quentin Martin will be our
• 34:51
  Speaker 4: investor teacher kwame uncle will teach about a variety of
• 34:58
  Speaker 4: different business topics and credit. We will teach about.
• 35:02
  Speaker 5: The world of credit.
• 35:05
  Speaker 4: And actually I heard might be interested in being a
• 35:08
  Speaker 4: professor also, So I don't want to put her on
• 35:11
  Speaker 4: the spot.
• 35:11
  Speaker 2: But I've been there. I already said I am down.
• 35:15
  Speaker 4: So I'm about let me ask you this, because you're
• 35:19
  Speaker 4: a member of euy University, how has your experience been
• 35:21
  Speaker 4: so far?
• 35:22
  Speaker 5: You just joined a couple days ago. Behind you, it
• 35:24
  Speaker 5: was not a couple.
• 35:25
  Speaker 2: Of days ago. It's been a couple of weeks. Thank
• 35:27
  Speaker 2: you very much. You trying to play me like I
• 35:29
  Speaker 2: just signed up, Like I just jumped on your bandwagon. Okay,
• 35:35
  Speaker 2: I actually signed up after I did the first e
• 35:38
  Speaker 2: y L University with y'all. One of my partners, Greg Mullen,
• 35:43
  Speaker 2: shout out to.
• 35:43
  Speaker 7: Him, shout the shout out to calv He's also earner.
• 35:50
  Speaker 7: So I was like, oh, I can't have Kevin and
• 35:52
  Speaker 7: Greg getting all this good information without me.
• 35:57
  Speaker 2: So yeah, it's been a great ex experience. Like I've
• 36:01
  Speaker 2: just been going hard in the real estate section. But
• 36:03
  Speaker 2: it's like so many classes, Like I'm not even like
• 36:08
  Speaker 2: it's too much I'm like, it's a lot, Like it's stuff.
• 36:12
  Speaker 2: I've watched two classes. I literally sat there like taking notes,
• 36:16
  Speaker 2: and I was blown away by the level of information
• 36:20
  Speaker 2: and insight that I was able to get. As somebody
• 36:24
  Speaker 2: who know a little something, you know, I still was
• 36:26
  Speaker 2: able to learn, which is really cool.
• 36:28
  Speaker 3: Yeah, we're gonna we always, We're always gonna over deliver
• 36:32
  Speaker 3: an under promise.
• 36:33
  Speaker 5: That's that's all.
• 36:33
  Speaker 3: That's kind of how we live in right now.
• 36:35
  Speaker 5: And it's like the.
• 36:35
  Speaker 4: Most the most successful people always are investing themselves in
• 36:39
  Speaker 4: for Actually, obviously she's an extremely intelligent person and she's like, yo,
• 36:44
  Speaker 4: I want to be an earner.
• 36:45
  Speaker 5: I'm not. I'm not above being a member of Eyo University.
• 36:48
  Speaker 5: And she joined. I didn't even know she was joining.
• 36:50
  Speaker 4: She joined and she became a member and she she's
• 36:53
  Speaker 4: studying herself. So that's that's dope, and that's that says
• 36:56
  Speaker 4: a lot. So thank you for that. So we're going
• 36:59
  Speaker 4: to get to question. But before we do, like I
• 37:01
  Speaker 4: said this, this is the last thing that we're gonna
• 37:04
  Speaker 4: do for Eyle University this uh this year.
• 37:08
  Speaker 5: On Monday, we're changing it and then we're gonna come
• 37:10
  Speaker 5: back January first. If you're interested in joining Eyo University.
• 37:13
  Speaker 5: Like I said, we're revamping this whole thing. We with
• 37:16
  Speaker 5: the revamp, everything is changing, including the price. The price
• 37:20
  Speaker 5: is gonna double because we have we're paying professors now,
• 37:24
  Speaker 5: we got a full time admin. Everything is changing. We're
• 37:29
  Speaker 5: really really taking us to the next level. If you
• 37:31
  Speaker 5: joined today, it's forty percent off, which is four four
• 37:35
  Speaker 5: hundred dollars for the entire year, including seventy classes, all
• 37:38
  Speaker 5: stuff I just named your grandfathered them for that price
• 37:40
  Speaker 5: next year. And yeah, so this is the last forty
• 37:45
  Speaker 5: eight hours. You got forty eight hours before that changes.
• 37:48
  Speaker 5: So if you're interested, I pinned it in YouTube. It's
• 37:50
  Speaker 5: eyl university dot com into promo code freedom at the
• 37:56
  Speaker 5: end at checkout. And I mean, like, realistically, four hundred dollars,
• 38:01
  Speaker 5: that's like a that's a good dinner with two people
• 38:05
  Speaker 5: in New York City.
• 38:06
  Speaker 4: That's a good dinner, two people, a bottle of wine.
• 38:08
  Speaker 4: So to have this level of education, I think that
• 38:10
  Speaker 4: we there's nothing comparable to it, especially for that price point.
• 38:17
  Speaker 4: I mean, people charge ten thousand dollars, nine thousand dollars
• 38:20
  Speaker 4: for that level of education for a lot less, a
• 38:22
  Speaker 4: lot less actually.
• 38:25
  Speaker 3: I always say, man, there's no platform that has this
• 38:29
  Speaker 3: much information in so many different areas.
• 38:31
  Speaker 6: Man.
• 38:32
  Speaker 3: So, like you said, this is this is in college.
• 38:35
  Speaker 3: This is like two textbooks that you're not even gonna
• 38:37
  Speaker 3: use because they're gonna give you a new version of
• 38:39
  Speaker 3: it the next semester.
• 38:40
  Speaker 5: So Ashley.
• 38:41
  Speaker 4: Ashley's presentation was a book that was actly like a book,
• 38:45
  Speaker 4: like if you if you put that in book form,
• 38:47
  Speaker 4: that's about one hundred and forty.
• 38:49
  Speaker 3: Pages, and that was a scaled down version.
• 38:51
  Speaker 5: Yeah that's crazy, that's crazy.
• 38:53
  Speaker 4: So so yeah, we're interested in having all you guys
• 38:55
  Speaker 4: join is Pinned.
• 38:56
  Speaker 5: I'll put it back into YouTube.
• 38:58
  Speaker 4: It's Eyo University into promo code Freedom, and the price
• 39:04
  Speaker 4: will be doubling. It's the first time the price is
• 39:05
  Speaker 4: ever doubled. But we can do that in good conscious
• 39:08
  Speaker 4: because we're giving you a heads up. So we're giving
• 39:11
  Speaker 4: you a heads up that the price is doubling. In
• 39:14
  Speaker 4: two days.
• 39:16
  Speaker 8: My graduates from my school being forced bad drop.
• 39:21
  Speaker 5: Bag drop, Mike drop bad drop drops Coach.
• 39:36
  Speaker 6: The energy out there felt different.
• 39:37
  Speaker 2: What changed for the team today?
• 39:39
  Speaker 8: It was the new game day scratches from the California
• 39:41
  Speaker 8: Lottery players. Everything those games sent the team's energy through
• 39:44
  Speaker 8: the roof.
• 39:45
  Speaker 3: Are you saying it was the off field play that
• 39:47
  Speaker 3: made the difference on the field.
• 39:48
  Speaker 8: Hey, little play makes your day, and today it made
• 39:51
  Speaker 8: the game. That's all for now, Coach one more.
• 39:53
  Speaker 2: Question play than New Los Angeles Chargers, San Francisco forty
• 39:57
  Speaker 2: nine Ers and Los Angeles Ram Scratchers from the California.
• 40:00
  Speaker 2: A little play can make your day. Fease play responsibly.
• 40:03
  Speaker 2: Must be eighteen years or older to purchase play or
• 40:05
  Speaker 2: claim