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Ross Wade
6.9K posts
Ross Wade
@submasterstrat
Husband and Father to 6 | 🇺🇸 | Residential Land Developer | Builder | I subdivide land to sell to builders and build Multifamily
Las Vegas, NV Katılım Nisan 2022
718 Takip Edilen790 Takipçiler
Ross Wade retweetledi
We don’t live in a democracy if our elected leaders fail to implement the will of the people
InteractivePolls@IAPolls2022
CBS News Poll: Do you favor or oppose requiring people to show valid photo ID before they are permitted to vote? 🟢 Favor: 80% 🟤 Oppose: 20% —— • Dem: 65-35 (+30) • GOP: 95-5 (+90) • Indie: 79-21 (+58) • White: 80-20 (+60) • Black: 80-20 (+60) • Hispanic: 77-23 (+55) YouGov | 3/16-19 | 2,496 A
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Ross Wade retweetledi
We aren’t running out of resources, we are running out of optimism.
Peter H. Diamandis, MD@PeterDiamandis
Humanity's greatest need right now, beyond new tech, is HOPE. A compelling, abundant vision of the future that people WANT to live in.
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Ross Wade retweetledi
Waste Management does not care about the price of oil, the latest AI tool, or what interest rates are doing
They simply come pick up your trash every week
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@thmoneycircle Less than 1% of the employed population are specifically land developers that deliver FINISHED lots to builders
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@submasterstrat 1.3M homes and the largest residential developer delivered 14k lots...barely 1%. That is interesting
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Forestar development (owned by DR Horton) built and sold 14,000 lots last year
They lead the nation in finished lots sold
That’s a drop in the bucket 🪣 compared to the demand for finished lots.
Builders are in a red ocean
Residential subdivision developers are in a blue ocean
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.@mcuban says humanoid robots won't last more than 5-10 years.
Instead, we'll "design the house to fit the robot, and design the robot to fit the house."
"You could create a house where the pantry, the refrigerator, and the washing machines were hidden behind the garage, if you even have a garage. That way you could redesign the house so that all the living space was for people."
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@thmoneycircle So true
14000 lots per year
Lennar and DR Horton built and sold about 180,000 homes combined last year . They were built #1 and #2 on the builder 100 list.
Roughly 1.3 million new homes built last year
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@submasterstrat When you look at Americas population thats pretty tiny
wow
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@PatSajaksToupee An assignment fee or wholesale would be a much smaller paycheck in this type of deal.
The builders want to close on the land at the same time you do, which is after the subdivision has full approvals.
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@submasterstrat Not my area of expertise, but why double close vs. assign?
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@BrendanBus67073 Usually governed by people who have never risked their own money
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@submasterstrat That's tough. It's like they want you to stay away. Gotta get these boomers off city council.
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I wish DOGE would have gotten rid of about 75% of all planning commission and zoning appeals workers across the United States.
Biggest waste of time ever
And costing America its housing that it needs.
Harsh but necessary
Subdivisions need to be approved in a matter of weeks, not months
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Ross Wade retweetledi
We are averaging about $1500 per lot on developments of 100 lots or more. 1500 covers civil engineering and approval cost costs. That’s here in the Midwest.
But the timeline is the killer.
Plus, one of the biggest issues I see is one town will copy and paste the zoning ordinances from a neighboring town or county because they all want their subdivisions to look fancy. Minimum lot, width, percentage, Green space requirements, 6 foot sidewalks on each side of the road, monumentation minimum requirements, etc., all these things drive up a lot cost so much.
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@submasterstrat I am waiting for Claude Code/Cowork to obliterate them. But that's nowhere close in sight bc governments have a counterincentive to cut costs/staff.
The end game is where P&Z, permitting, and required due diligence cost >50% of building like it does now in LA & Vancouver. 💀
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Ross Wade retweetledi
@BrendanBus67073 For the tax increment financing, we use that to offset our infrastructure cost when selling lots to builders.
But we also build multifamily for ourselves. That’s where we have abatements.
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@submasterstrat Very nice. So you guys negotiate the TIF/abatement on a parcel for a specific project (e.g., over 20 units) before or after finding a builder? Or you mean for your own projects?
The beer is optional but sometimes it helps!
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Ross Wade retweetledi
"He who hath a trade, hath an estate."
Benjaman Franklin
Wonder what he would think of America and how the trades are viewed today and how no one can buy a home even making a decent living.
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@BrendanBus67073 Yes. We do that. Don’t need to do the beer though, We have 3 current developments with TIF and a couple with tax abatements (apartments)
We do developer backed bonded TIFs
Now in Indiana, we have state RIF money that makes it even easier
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@submasterstrat While you're changing the zoning, take the local officials out for a beer and ask what type of development it would take to get a tax increment financing designation. Use that as leverage to sell to a builder or get it in writing and monetize it.
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Having fun is also more productive than forcing yourself to work
Nicole Behnam@NicoleBehnam
Having fun is more of a spiritual experience than reading about spirituality. Have more fun.
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