In 2010, Matt Fleming and his friends had money—but no deals. They were looking for a physical place to safeguard their cash, and Matt had the foresight to buy several projects with the intent to hold and maintain the properties until the real estate market came back. One of the unique communities Matt invested in was The Groves, a neighborhood in Temecula Wine Country with 2,400 citrus trees that he has transformed into a revenue-generating, licensed organic citrus farm.
Matt is the founder of Fleming Communities, a premiere boutique builder based in Southern California. The firm specializes in developing unique communities in the state’s most scenic locations, and the hallmark of their success lies in homes with timeless design and enduring quality—built in areas of great natural beauty.
Today on Founders Club, Matt joins Oliver to discuss his background in real estate and the uncommon attributes of the developments he decided to keep. He shares the details of The Groves, explaining how the community’s citrus farm generates revenue for the HOA, how he purchased the property from the bank, and what he did to maintain the property until the time came to build. Matt also describes the pick-a-lot, pick-a-home program at The Groves and the custom options available to buyers. Listen in to understand Matt’s biggest challenges in working with the county and incentivizing subcontractors and learn what inspired him to become a resident of the community himself!Key Takeaways
[1:21] Matt’s background in real estate
[3:02] Matt’s foresight to buy and hold
[6:31] The features of the developments Matt held
[8:18] How the community’s citrus farm generates revenue
[11:47] How Matt purchased the property from the bank
[13:57] Matt’s initial action plan for The Groves
[17:15] The impetus for Matt to build at The Groves
[20:03] How The Groves buyers customize their homes
[24:13] Matt’s biggest challenges with The Groves
[26:22] Matt’s advice for aspiring developers
[27:43] Matt’s decision to live at The Groves himself