Summary
We sit down with the Dodson Development Group to discuss beer, proforma, construction, creative deal structures, and how to blend a sports card store with a bar & grill. We explore the idea of streaming live card pack openings while customers can enjoy food and drinks. We also touch on the concept of buying into a card pack break, where customers can purchase a specific team and watch the pack opening live. The hosts also discuss the development process and the importance of creativity in making deals work. We highlight the role of underwriting and the significance of relationships with brokers in the commercial real estate industry. Kenny Shultz and Duke Dodson discuss developing and constructing commercial properties in this conversation. We touch on construction costs, cash flows, yield on cost, investor structures, and the challenges of raising equity. We also discuss the importance of communication and collaboration between developers, contractors, and engineers and the need for early involvement and understanding costs in the design process.
Takeaways
The concept of merging a sports card and hobby shop with a sports bar allows customers to enjoy food and drinks while watching live card pack openings.
Buying into a card pack break allows customers to purchase a specific team and watch the pack opening live.
Creativity makes real estate development deals work, especially in a challenging market.
Underwriting is essential to the development process, and a deep understanding of financial analysis and math is necessary.
Building relationships with brokers is valuable in finding and securing deals in the commercial real estate industry. Developers must consider construction costs, cash flows, and yield on cost when evaluating a project.
Raising equity can be challenging and requires constant communication with lenders and investors.
Early involvement and collaboration between developers, contractors, and engineers are crucial for successful project execution.
Understanding costs and making informed decisions can help optimize the design and construction process.
Effective communication and a proactive approach can help mitigate challenges and ensure project success.
Chapters
00:00 Introduction and Warm-up
00:57 The Concept of Merging a Sports Card Shop with a Sports Bar
02:25 Card Pack Breaks and Live Streaming
08:26 The Importance of Creativity in Real Estate Development
17:11 Overcoming Challenges and Building Relationships
24:03 The Role of Underwriting in the Development Process
28:46 Building Relationships with Brokers in Commercial Real Estate
32:20 Navigating Construction Costs and Cash Flows
37:03 The Art and Science of Raising Equity
44:04 Understanding Costs and Optimizing Design
52:28 Effective Communication and CollaborationSound Bites
Quotes
"Real estate developers are creative in different ways, but in commercial real estate, anything's negotiable. It's like the Wild West."
Keywords
sports cards, sports bar, streaming, card pack break, development, underwriting, creativity, commercial real estate, brokers, commercial development, construction costs, cash flows, yield on cost, investor structures, raising equity, communication, collaboration, early involvement, understanding costs
Where to find Duke Dodson
website: https://www.dodsondev.com/
Instagram: https://www.instagram.com/duke_dodson
YouTube: https://www.youtube.com/@dodsonpropertymanagement2081
Where to find PermitZIP
website: https://www.permitzip.com
Instagram: https://www.instagram.com/permitzip
X (Twitter): https://twitter.com/PermitZIP
Where to find The Blueprint Tour
Kenny (Host): https://twitter.com/blueprinttour
Carter (Host): https://twitter.com/bptcarter
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