Donovan
@DonovanBuilds
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$10m+ infill housing development | 30+ exits as GP | Missing middle housing in CA, MN & TX | Acquired (small) cleaning business
Oakland | Houston | St. Paul
Joined May 2012
Very long re-introduction for the new followers!. - grew up to working class parents who each made no more than $25/hr (still some of the most incredibly hard working people though).- my two brothers (I’m the middle) and I all shared a room until we went to college.- went to Univ
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Ben has gotten 27 SB9 lots approved and understands Sb684 and SB1123 better than anyone out there. Highly recommend following on here and LinkedIn. Learned all my CA policy knowledge from him!.
@JMGregorchuk @connorclift35 By the way you can't do SB 1123 on 2.5 acres in this area. The Mullin Density is just too high and will result in over 10 units.
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The thing I learned about California is that they love to move quickly on policies that are a detriment to them and incredibly slowly on ones that would be positive.
Just signed an Emergency Executive Order to prohibit SB 9 applications within the Palisades Fire area. SB 9 wasn't intended to be used in the wake of the worst natural disaster L.A. has ever seen. I thank @CAgovernor for working with me to get this done.
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RT @benwbear: Excited to share that TurboHome has surpassed $150M in lifetime transactions in under a year, helping homebuyers save $3.4M,….
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Kinda like when I raised $60k for my first duplex at 23 and put “REPE” in my bio.
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If you want to be able to control what is being developed around you. Then you need to own it.
Hit me with the harshest reality truth.
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We have a recent grad that just started and caught myself saying "when I was your age. ". It's all downhill from here isn't it? (I'm 28).
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End of 2023, I stopped acquiring land for duplexes in Houston. The secret was out and saw a ton of supply coming (probably shouldn’t of tweeted about it so much. ). These two fourplexes are in the rough-in stage. They’ll be 2/2.5 each unit (925sqft) with one parking space each
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Rule of thumb for build to sell development. In TX, you want to be able to sell something for ~2x your build cost. In CA, you want to be able to sell something ~2.5x your build cost . Very quick and dirty but if you build at $250 a foot and comps are $400/sqft - on to the next.
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I'd build very rough version on @lovable_dev then prepare to defend it like a master's thesis to Antonia . She'll likely save you millions of VC $ and years of time.
If you’re building software that overlaps the design/construction/development space & you reach out to me for feedback, be prepared to answer the two following questions:.
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This bill could be even more powerful if you include builders who sell to owner occupants as not paying federal tax. (Or at a minimum taxed at long term capital gains). Would unleash a huge amount of supply.
🚨 NO MORE TAXING THE AMERICAN DREAM!. Families who work hard, build equity, and sell their homes shouldn’t be punished with a massive tax bill. I just introduced the No Tax on Home Sales Act to ELIMINATE the federal capital gains tax on home sales. This bill helps homeowners.
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RT @benwbear: Excited to share that the first 2 condos built via @BuildCasa’s partnership with @ChanZuckerberg are now available for reserv….
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RT @benwbear: If you’re curious to learn more about SB1123/SB684 check out a free webinar @BuildCasa is hosting led by @DonovanBuilds and @….
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RT @ybfollard: Young RETwit Developers: working on a deal and feeling stuck? I want to help YOU!. Whether it's your first project or your t….
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Great news on the OZ front but still a few small tweaks to make it amazing. Having incentives start in 2027 means LPs will simply delay investment until then. With such incredible momentum from OZ 1.0 would be a shame to temporarily pause then hope it comes back in 18 months.
The latest Senate draft reflects both important progress and some urgent unfinished business on Opportunity Zones. A quick thread on where things stand now and what I hope happens next. 1/.
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One day I'll be able to do infill for sale housing development across the country and have it taxed as LTCG.
BOOM! The North Carolina State House just unanimously (107 to 0) passed a ban on parking minimums in new developments statewide. This is powerful and bipartisan pro-housing reform that will make it easier to expand multifamily housing. Great work.
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Tanner's write ups are some of the most value added newsletters I have seen throughout all RE newsletters . By far the most actionable on industrial. Will be going to @ReconveneLA just to see the masterclass in person.
Two promos in one video- not sorry! . 1. Here’s what I write about on the newsletter, you should sign up. 2. I’m hosting a breakout panel at @ReconveneLA in September. We’ll be discussing all of the ways to get tenants for your industrial spaces! Going even more in depth than I
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Last 18 months finished 7 properties in Houston. Big reason for delays in these HCOL areas.- too many departments reviewing plans .- not allowing things to be done concurrently.
Since the Maui fires a year and half ago that destroyed 2000 homes. Only 6 have been rebuilt
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Our sourcing algorithm identified this site in the Bay Area last week that we sent out as our first Deal of the Week to our mailing list. This is an oversized RM lot (making it eligible for SB684) that would allow for up to 6 additional units. Strategy: renovate the existing
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After moving from developing in TX to CA can confirm . Costs are about 3x compared to the TX projects and take double the amount of time. Good for developers because there is zero new product to compete with.
Some staggering stats on affordable housing in Red v. Blue states. — Per square foot, it cost 2.3 times as much to build market-rate housing in California as it does in Texas.— It also takes on average 22 months longer to bring a project to completion in California v Texas
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