Explore real estate development with Dirk—learn from his 84-unit project, discover the impact of single-family home investments, and get practical advice for new investors. Gain insights into common development mistakes and future plans in this brief, informative conversation with Dirk and Brian.

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Dirk is deeply involved in real estate development and has recently completed an 84-unit project. While he occasionally constructs homes for sale, he also retains some in his portfolio.

The impact of buying single-family homes is often underestimated. Dirk's initiation into his development career was made possible by the sale of his first home, generating a $70k profit. This money became the foundation for their venture into empty lots. Brian, too, achieved millionaire status through his single-family home portfolio.

In their discussion, Dirk and Brian delve into the intricacies of building a house. According to Dirk, the cost varies depending on the type of house and its location, generally ranging between $150-$175 per square foot. Additionally, expenses include permits and land acquisition. Dirk offers valuable advice for new investors, providing numerical examples of deals.

Addressing common development mistakes, Dirk candidly shares his own experiences. During the construction of a fourplex, misjudging the sewer hookup location resulted in unexpected challenges and additional expenses. Developers should exercise restraint to avoid overbuilding. Brian and Dirk encourage listeners to take notes on these shared mistakes to enhance their own learning.

The conversation extends to comparing ground-up real estate development with house flipping. Brian expresses frustration with the rapid turnover in the Las Vegas flipping market. Dirk highlights that while finding quality land is the most challenging aspect of development, the competition is not as intense.

Looking ahead, Dirk outlines his future plans, including further residential real estate development and venturing into storage unit development.

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