106. Deal Deep-Dive I Turning Dirt into Gold: Maximize your Profits in Land Development with Dan Haberkost

ABOUT DAN HABERKOST

Dan Haberkost is the owner of Front Range Land LLC and has managed to build an impressive real estate business and portfolio that allows him the freedom to live and work where he wants well within his 20s. Dan's first foray into the world of real estate investing was as a teenager when he managed a portfolio of properties for his employer at the time, while still in high school. Dan took the lessons he learned from these early experiences and brought them into his own business allowing him to shorten the learning curve and make an enormous amount of progress in just a few years which has given him complete freedom in his mid-twenties.       THIS TOPIC IN A NUTSHELL:     Dan's journey to real estateBuying his first duplex in OhioMeeting his mentor on land developmentAbout Front Range land and what they doHouse development routeOn Having the right contractor Criteria of land they are looking forThe caveat of developing entry-level housingOther properties in his portfolioAbout the dealLocation, specs, and how he came across the dealFinancing and unit mixImprovements and rehab done to the propertyChallenges and issues dealt with Cashflow and returnsDiving into people's motivations and perspective Using references with previous dealsHow to properly communicate with sellersWhat’s the future plan with this deal?How to go about looking for the land Due diligence checklistNuances of land investmentCurrent projects they are working onThe biggest takeaway from this dealConnect with Dan  
  KEY QUOTE: “In the context of investing, things are very much delayed gratification. I try to think in terms of decades which is easier said than done. So, at the moment when things are going wrong, keep the big picture in mind.” 

 
SUMMARY OF BUSINESS:
 What began as a small side business investing in rental properties has evolved into an active land and development business that continually fuels the acquisition of more rentals. Dan owns and operates Front Range Land LLC which focuses on investing in land all over the country.     ABOUT THE WESTSIDE INVESTORS NETWORK   The Westside Investors Network is your community for investing knowledge for growth. For real estate professionals by real estate professionals. This show is focused on the next step in your career... investing, for those starting with nothing to multifamily syndication.     The Westside Investors Network strives to bring knowledge and education to real estate professional that is seeking to gain more freedom in their life. The host AJ and Chris Shepard, are committed to sharing the wealth of knowledge that they have gained throughout the years to allow others the opportunity to learn and grow in their investing. They own Uptown Properties, a successful Property Management, and Brokerage Company. If you are interested in Property Management in the Portland Metro or Bend Metro Areas, please visit www.uptownpm.com. If you are interested in investing in multifamily syndication, please visit www.uptownsyndicati