I think like the biggest thing I've seen with with developers that like you're talking about skimp at the end right is that like development's kind of a slow game real estate's kind of a slow game and I feel like most people have like a lot of wishful thinking they underwrite their deal they're like I'm going to get it permitted quicker than it can happen I'm going to build it for less than I probably can.

And it's like a wish instead of like a plan.

And so what I've always tried to do is like crunch back numbers on every deal we finish

so that I know like if five years ago I was making a dollar, $2, $10 square foot mistake,

that I try to account for that going forward so it doesn't continue to

happen.

Welcome to the Rich Strummers Report where we talk real estate, business, and wealth building,

all while keeping it real.

No fluff, no BS.

I hope that you enjoy the show.

All right, guys, today I got someone who is a good friend of mine for the second

time on the podcast doing big things in the development space in real estate, both on

the residential side and the commercial side.

I got my guy Austin Schmidt in the building.

What's up, Austin?

How we doing today? Oh, we're doing amazing, man. I Appreciate you coming on, dude, and so much to catch up on.

And a lot of game, a lot of value. But for the listeners that don't know who you are, just drop real quick,

what do you do today in the real estate space? So I'm Austin Schmidt. I started Lux Builders

almost 18 years ago. We've specialized in doing

single family spec home rebuilds. We've cut subdivisions and built out full housing subdivisions,

townhome complexes, value add multifamily, new build multifamily, raising capital.

And how much in real estate today would you say you control?

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