009. Large Scale Development and Opportunity Zones

Major League Real Estate Podcast

David Gordon, a real estate developer, discusses his background and current projects, with a focus on qualified opportunity zones (QOZs). He explains the purpose and benefits of using the QOZ vehicle, including the ability to provide a higher level of impact to communities without financial assistance from local municipalities. Gordon emphasizes his long-term hold strategy, building high-quality projects with the intention of holding them forever. He discusses the challenges and market trends in Bozeman, Montana, and the importance of a well-structured team. Gordon also touches on the capitalization and exit strategy for his projects, including the use of crystallization and true-up provisions in operating agreements. In this conversation, the guest discusses the importance of upscaling advisors and finding an attorney who has the heart of a teacher. They also talk about future episodes and introduce the Streamlined Spotlight segment. The guest then shares how they have recently adopted Yardi Voyager to streamline their business and improve their accounting processes. Takeaways

• Qualified opportunity zones (QOZs) provide a higher level of impact to communities without requiring financial assistance from local municipalities.
• Long-term hold strategies allow for the development of high-quality projects and the ability to provide a wide range of housing options.
• Building strong teams and maintaining a sustainable structure is crucial for successful real estate development.
• Crystallization and true-up provisions in operating agreements can help align the interests of sponsors and investors.
• Simplifying operating agreements and ensuring transparency with investors is essential for building trust and long-term partnerships. Consider upscaling your advisors and finding an attorney who has the heart of a teacher.
• Implementing technology like Yardi Voyager can streamline business processes and improve accounting efficiency.
• Future episodes will explore additional topics related to real estate development and investment.
• The Streamlined Spotlight segment highlights the technology adopted by guests to streamline their businesses.