Innovative Real Estate Podcast Show Notes

EPISODE 1 - Best Advice for Beginner Developers: How to Start & How Much It Will Cost

We know what you're thinking... "How much does it cost?" That question is bound to come up sooner or later as you plan for your upcoming project, and we'd prefer to address this with you sooner than later.

 

On this episode, Leslie, Breck & Claire dive head first into the REAL challenges that will arise on your development journey and how to SQUASH them up front by properly planning your project.

Here's a glimpse at what you'll learn from us in this episode:


   •    The first 3 things you NEED to consider when starting to plan your project
   •    The top challenges you will encounter when creating your budget, and how

          to overcome them.
   •    What about building with shipping containers? Can it really save on costs?
   •    How Three Squared helps you put your budget together the right way.
   •    What it REALLY took to achieve our 100% permit approval rate.
   •    3 simple ways you can control your costs.
   •    Breck's Project Highlight of The Week: Lone Tree Point Acres!

“What we are sharing here is super relevant across the board [for all project types] on how to get started.”
 

- Leslie Horn (CEO of Three Squared, Inc.)

Show Notes:

  • 0:30  -  Introduction to the first episode.

  • 0:50  -  Where to find Three Squared’s Instagram & Website

  • 1:03  -  Got questions? Submit them directly to us here!

  • 1:20  -  Leslie and Breck’s introduction to Episode 1. 

  • 1:52  -  Container home interest had a major boom this last year which has created many new projects and opportunities here at Three Squared. 

  • 2:23  -  Breck’s Project Highlight of the Week: Lone Tree Point Acres!

  • 3:25  -  How to get started developing a project. 

    • 4:23  -  Leslie discusses why this question is so relevant for everyone looking to get started as a developer.

    • 5:00  -  Breck introduces the 3 questions you should ask FIRST: Where are you building? What are you building? And how much money do you have to build it with? 

      • 5:49  -  #1 Where are you building? And figuring out the logistics of your building site.

      • 7:32  -  #2 What are you building?  We don’t decide what you are building, you do.

      • 8:49  -  #3 How much money do you have to build it with? Three Squared will design something that fits within your budget.

        • 8:58  -  How much do things really cost?

        • 11:13  -  Cost fluctuation based on what your needs and wants are.

        • 11:53  -  What is your budget? 

    • 13:10  -  Leslie’s advice on costs and what to keep in mind when looking to build.

      • 13:27  -  Construction costs and saving money through time. 

      • 14:50  -  Energy efficiency.

      • 15:32  -  “How much is my cost per square foot for general construction in my neighborhood?”

      • 16:37  -  Other factors you need to consider when building. 

        • 18:08  -  The difference between hard vs. soft costs. 

  • 19:30  -  Three Squared has 100% approval in every municipality we have entered across the U.S.

  • 21:50  -  The 3 ways you can control your cost expectations.

    • 21:59  -  #1 Scale: how big you want to build.

    • 22:20  -  #2 Timeline: how fast you want it built.

    • 22:54  -  #3 Quality: quality of your finishes.

  • 22:25  -  Concluding thoughts. 

  • Have a specific project in mind? Connect with our team for a one-on-one consultation to ask questions & receive custom guidance on next steps for your project.

Exercise: Answer these 3 questions...

1.  Where are you building?

  • City/State

  • What site do you want to build on?

2.  What are you building?

  • What is your project type? (Multifamily, Mixed-Use, Single Family Home, etc.)

  • How many square feet do you want to build?

3.  How much are you building it for?

  • Are you financing your project through a construction loan?

  • What are average construction costs in your area? (Check this on Google and/or contact a local General Contractor if you are unsure)

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