Development Financing - Jason Robb

01/13/23 • 48 min

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We talk with Jason Robb who represents Blue Ridge Bank in Richmond Virginia.
Acquisition of land starts:
-timeline of contract / due diligence / closing
-zoning
-entitlement
-municipality
-architects & engineers
-soil studies and enviornmental
If the final home price includes the price of land, assume 20-25% of the price to be your lot/land.
Key takeaway from Jason is that you need to raise your standards to thrive in 2023. Aptitude, execution, and responsiveness is what Jason credits to his success throughout his career.
Jason can be found on LinkedIn at: https://www.linkedin.com/in/jason-robb-3b008064

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Carolyn can be found on LinkedIn at:
https://www.linkedin.com/in/carolyn-mcmahon-937b89158
Joshua can be found on LinkedIn at:
www.linkedin.com/in/joshuamcmahon15
Email for feedback, questions, complaints, etc:
[email protected]
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Previous Episode

KPI: Key People Indicators Part 2

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In this episode, we tap into an example where Jesse was able to help teach a team how to improve productivity from twenty minutes down to eight. The key takeaway is that they could remove 70% of the "hard" work!
He teaches us that when teaching, it is imperative to learn together through sweat equity improvement. Jesse sets out to build capability and remove hard work on every project he tackles.
We need to serve the customers and not simply the client. What does that mean? It means that every stakeholder is a customer. We need to focus on each customer as much as the end user or client.
Jesse can be found on LinkedIn at: https://www.linkedin.com/in/jessedepthbuilder
Every other Saturday, tune in for a live No BS with Jenn & Jess: https://www.linkedin.com/company/no-bs-with-jen-jess/

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Next Episode

Homebuilder Financing - Jason Robb

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Jason Robb, with Blue Ridge Bank, joins us for a second round to discuss vertical home building and financing.
Have you ever wondered how home builders finance the communities and homes they are building? I know that I have, and Jason can break down misconceptions, draw schedules, interest rates, and other discussion points around homebuilder financing.

Here are some of the questions we press Jason with to understand better the banker's involvement in financing our new home construction. Understanding this discussion will help you get a high-level view of how builders operate if you are in the home building industry, trade, or builder.

Do the bankers requesting more documents from the builder know what they are looking at? Are the documents necessary or just a way to weed out unnecessary work?
What can we expect with interest rates in 2023? How worried should we be as an industry and as consumers?
When it comes to a builder's line of credit, what are the most significant factors that help the bank decide to loan or not?
How is the money typically dispersed? Are there any specific bank draw schedules that all banks follow? How often can we take a draw? How long will it take from an inspection until the money hits the builder's bank account?
How does a bank determine how much money can be borrowed against a property? Does having a signed, non-contingent contract make a difference?

The bank has a critical role in new home construction, and bankers are just as much a part of the team as the electrician pulling the wire. We all need one another to build and deliver homes for consumers, and understanding more about each other, will help us all grow.

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