December 18, 2024 • 39 mins
In this episode, we’re excited to welcome back a very special guest, J.T. King, the founder of Royal Developments. J.T. joins us to discuss the recently completed Innovative Housing Showcase in Fort Wayne, a groundbreaking project that highlights four cutting-edge building typologies.
Throughout the conversation, J.T. shares his experience of simultaneously managing the development of four unique projects, and he offers insight into the collaborative efforts that made the showcase a reality. He also talks about the incredible support from the city of Fort Wayne and how building the right team played a central role in the project’s success.
Here's a glimpse of what you'll learn:
- Recap of the Innovative Housing Showcase
- Why good relationships with your municipality matter
- Implementing economy of scale with new building typologies
- The next project for the Royal Developments team
Learn more about J.T. and the work he and Royal Developments are doing at the links below:
Website
Instagram
Ready to move forward with your project? Contact us here and we will put you in contact with the right member of our team.
Make sure to follow us on Instagram, Facebook, and LinkedInto stay up to date on new project releases, trainings, and more.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
SPEAKER_00 (00:02):
Welcome to the Innovative Real Estate Podcast
with your hosts Leslie Horn,Brett Crandall, and Claire
Olilla.
We're here to make your lifeeasier as a real estate
developer and teach youeverything we've learned about
designing and buildinginnovative homes, multifamily,
and mixed-use structures.
On this podcast, we'll be givingyou our best advice, trainings,
(00:23):
and QA segments so you can learnfrom our years of experience and
make your innovative vision areality.
SPEAKER_02 (00:29):
Hello, hello, hello, and welcome back to Innovative
Real Estate with Three SquaredInc.
We are your host, Three SquaredInc., Breck Leslie and Jill.
And today we welcome back aguest, turned friend, turned
client, turned returning guestand client and friend.
(00:50):
JT has become uh kind of like anextension of the family, I'm
gonna be honest.
Uh, it's been our absolute andtotal pleasure to work with him
through his developmentstrategy, primarily focused in
the Midwest, um, starting withFort Wayne, Indiana, uh, which
is just an incredible journey,an incredible story.
Uh, we'll link the show notesback to a previous episode that
(01:11):
we did with JT at the onset ofthis endeavor.
Uh, but today uh we are here inour second installment of uh
this Fort Wayne project um thatis now completed.
So we are revisiting theconversation to get um some
lessons learned and what theoutcomes were and a whole lot of
excitement that has beengenerated in moving forward.
(01:34):
So uh again, it is my pleasureto welcome back JT King of Royal
Developments.
JT, please introduce yourself,say hello.
SPEAKER_01 (01:41):
Oh, Brick, uh well, that was a very kind
introduction.
Uh so uh yeah, thank you somuch.
And uh uh yeah, I'm very excitedto be back on and uh excited to
share more about the showcasenow that we're at the end of it.
Um as we know, uh it's easy tohave a great vision, but to
accomplish that vision sometimesvery hard.
So uh very excited that we wereable to partner with Three
(02:02):
Squared because truthfullyspeaking, this showcase um would
not have been possible withoutyour guys' strategic
involvement, uh, also, you know,uh taking things to just just
the next level.
Uh and when you're pushing onthese things, it's very hard to
do that.
Uh so the team that you have uhis everything.
So it's so nice that I can saywith all honesty that you guys
(02:24):
have been the ones that havefollowed through on everything
you've told me you were gonnado.
You did.
And then you didn't just do it,you came down and supported us
in Fort Wayne, uh, you know, andand really see what we're trying
to do as well.
And so we're so thankful forThree Squared and uh the growth
that we've both seen over thelast year.
But I couldn't have growntruthfully without you guys.
So thank you so much.
SPEAKER_04 (02:46):
Wow.
Uh you're welcome.
And JT, you've been just anabsolute treat to work with your
transparency and honesty, andhonesty and and and your
perseverance.
And what I love about it is it'skind of like everyone knows I'm
not an architect.
Sometimes I'll sit in a room andI'll come up with like this
idea, not knowing anything aboutthe field itself.
(03:11):
And then lo and behold, becauseI'm not in it so far, I come up
with a pretty decent idea,right?
I feel like you knew nothing,but you did know a lot.
You knew the process, you knowpeople, you know what your end
goal was.
And so you came into thedevelopment arena, and oh my
(03:34):
lordy, you had a thought, anidea, and you did it, and it was
so non-traditional the way youdid it and the way you went
about it, and now it's a modelthat I think everybody can learn
from and everybody should bedoing when it comes to
municipalities and getting thistype of innovation.
Who the heck builds four housesat once out of all different
(03:56):
kinds of materials?
Oh, and comes in under budgetand in on time and under budget.
Who that well JT King doesn't?
That's what I know.
SPEAKER_01 (04:07):
That's very kindly, guys.
That's very kindly.
It's been a it's been a lot ofwork.
SPEAKER_04 (04:12):
So you just didn't know it couldn't be done, and
you did it.
I love that.
SPEAKER_01 (04:17):
Yeah, we're very fortunate, and and I think uh
the truth of the matter is we'rewe're very fortunate to be doing
this in Fort Wayne.
There is a special group ofpeople in Fort Wayne that really
have a collaborative mindset andwant to not only just have their
city grow, but also heal.
They really care about peoplestill.
Uh, and and that's somethingthat obviously I think our whole
(04:39):
group uh is aligned with.
And so what a what a beautifulthing where you can have a
municipality that has highstandards.
You know, sometimes people gotannoyed about that, about Allen
County being like, well, youcan't build this or you can't
build that.
But uh a lot of times we have tounderstand their standards and
and to keep you know yourhousing and everything at good
value, those standards aregreat, you know.
(05:00):
And so very fortunate that wewere able to do this project
because there's never been acontainer home, uh, there's
never been a home home, there'snever been a new energy home,
and there's never, you know, amodular home inside of the you
know, inside the city limits.
So uh definitely getting givingit a good taste and a good feel
so people could make their ownjudgments.
That's the whole goal, right?
It was to educate, not justsell.
(05:22):
And so it's it's kind of abeautiful thing where we've
really learned that because I'mnot great at sales, I'll be
honest with you, but I'm good atthis because I know it's truth,
you know, and so for me, I canpush that and I can push
understanding and and I lovewhat you guys have been doing
and creating.
And so uh the reality is thatmost of it comes down to
communication, and I thinkthat's kind of where world
(05:43):
developments and myself arereally good at is uh getting
people that don't necessarilyunderstand each other to
understand each other.
Uh and that's how you reallymake a project go from A to Z,
in my opinion.
Uh, and that's very difficult inan individualistic society.
SPEAKER_04 (05:58):
So, JT, how did you navigate four projects at once?
And then I know one of thequestions on the table is also
like you've been working in thecity of Fort Wayne with some
heavy hitters there that didcreate a standard.
And you know, how you reallycreated something very unique,
uh super unique.
And I know Breck probably wantsto pipe in here as well.
(06:21):
But when you were putting up thefour houses, tell us just a
little bit about that becausethese were all different models,
all different types, alldifferent styles.
SPEAKER_02 (06:28):
You will start with reminding the listeners exactly
what the project was, because wekeep saying the projects, but it
was the innovative housingshowcase, which was four
projects, and so you can you cantalk a little bit about that as
you express like how it wasworking on four different
projects, but at the same timeand in the same place.
SPEAKER_01 (06:46):
Yeah, luckily, uh we did four separate builds.
Luckily, two of them were withyou, so that did simplify the
process a lot.
I think if I worked with fourindividual architects, that
would have been way more, if I'mbeing honest.
I was already stretched becauseremember, everybody has their
different systems.
So three squared talks to eachother differently than
(07:07):
necessarily, you know, somebodywith uh new energy or uh the
modular build.
They everybody has differentcommunication styles, and so you
have to understand how eachsystem works so that you can
speak into those where they'reheaded too.
Because the good thing about us,we have very similar visions.
So it's easy for us to be like,oh, great, let you know, let's
(07:29):
go.
Uh and so, but the the thing forme was there's a lot of faith in
this project, if I'm beinghonest with you.
Like, for instance, I'll giveyou, let's just have some fun.
So, for instance, on the modularhome, that's obviously built in
a factory and uh um uh setafterwards.
So uh the lot that we had, uh itwas sold to me, and this was a
(07:49):
mistake.
So, this is not me hating on thecity by any means.
They already know this, uh, butthey sold it to me as a C three
lot.
And obviously, I was kind of ina rush at that current point of
the project.
So I just was like, Yep, cool,all right, great, signed over to
me.
Awesome, didn't read the finedetails, that's on me.
Uh, and so is C three.
So we're building a house in afactory, and I have a C three
(08:09):
lot.
Can you explain to me what thatmeans?
Yeah, no problem.
So C three is the commerciallot.
So uh there's obviously there'sdifferent C's in the commercial,
uh, but to break it down alittle bit, it's not
residential, so you can't builda home like that.
So yeah, so then we had to gounderneath uh, and and mind you,
that was a used to be a gasstation uh back in the day.
(08:30):
So we had mitigated the tanksthe year before.
Uh so you know, you know, no redflags on the lot at all for you
know them to be like, I don'tthink we should approve this,
but thank God the city of FortWayne, you know, they were
really dialed in with us aswell.
They saw what was going on.
I still had to go through thenormal process because obviously
you do.
Uh, but luckily they worked withus uh and and uh we were able to
(08:51):
mitigate that.
So it it was.
And and then I think the key isas a developer, is there can be
things on fire, but if as longas there's a plan, that's where
I just keep I sit on that.
That's my job to to handle thoseand put them out and just get
everybody to do what they'regood at, um, and and kind of
that communication.
But yeah, it was it was crazy.
I would highly recommend notdoing this unless you have good
(09:14):
connections in your city.
Because again, like habitat, myconnections there.
I had people that were friendsthere as well.
So though we've been using thatas our model, uh, it did work
well in Fort Wayne just becauseI kind of already knew these
people.
So we were able to kind ofcreate this model, but we're
excited to expand this becausewe are uh over the next you know
couple months formulating awhole GC school for this stuff.
(09:36):
So we're looking forward to it.
SPEAKER_03 (09:39):
So, JT, I have a big question for you because you
developed four houses at onceand all different construction
typologies.
And I know that a lot ofdevelopers are curious how do
you actually make the processstart to finish?
And now that you've completedthem, I think a lot of people
would be curious as to how youmade the project's pencil, not
only on time and under budget,but like how were some of the
(10:02):
initial fundings gathered?
And I think that goes inconjunction with your really
good relationship with the cityand the county.
SPEAKER_01 (10:08):
Yeah, I mean, we I'll be honest with you, I'm
super blessed on this on thisproject.
I need to just say that first.
Uh, because I went around toabout eight to ten banks in the
local community.
And because I don't have a longtrack record, I wasn't able to
get approved, uh, whicheverybody kind of knows because
they have to follow their checkboxes.
Uh, but the city of Fort Waynesaw all the things I had put
(10:29):
together and saw that I was veryhonest and open with my numbers
and making sure subcontractorswere doing their due diligence.
Um, and and they ended upactually funding it through one
of their funds.
So we were able to use thefederal home funds grant, which
we said about in the firstpodcast, uh, which worked really
well.
Uh, and you luckily we did stayunder budget.
(10:50):
Oh man, that would have been anightmare.
Because we uh luckily the cityhad a you know a contingency,
obviously.
Because, for instance, okay,another thing we ran into in the
project, we did our duediligence and uh in the uh the
sewer drain was actually madeout of tile.
And so when you tap into that,that's a very different tap fee.
Usually the tap fees may bearound 1,500 to three grand
(11:12):
around here, this justdepending.
Uh, but this one was 19,500.
So, so as you can understand,part of this project too was for
also the city to understand whatthey're going to be running into
as they try to get rid of theselots that they own, because they
have over a thousand of themhere that they're trying to get
people to move on and develop.
So, this is kind of the firstkey to opening up uh the rest of
(11:35):
the sides of you know appraisalgaps.
And there's so much we'reagainst, which we talk about all
the time in our meetings, youknow, uh, but it's so deep we
could have like four podcasts onthis.
I mean, uh there the problem'slarge, so the team has to be
larger.
Uh, and I think that's whatwe're all finding out.
SPEAKER_02 (11:52):
Well, if there's any lesson learned from this entire
conversation, uh, if you are anaspiring developer or somebody
wants to take on a project, uh,the one thing you should take
away from this is have yourducks in a row before you start.
I mean, if you don't have a planof action and have that set in
place, like the design, I cannotsay this enough, is the easy
part.
(12:12):
The the building itself isactually one of the easiest
parts of the entire process.
And sure, it comes with itshurdles.
But if you don't have thatsupport and you don't have a
plan of action in place and youhaven't figured out financing
and how you're going to navigatethe red tape with the city and
those hurdles that any site canbring, um, then you're you're
kind of setting yourself up forfailure.
(12:33):
And that's where JT like shinesabove the rest, is he had that
plan and he put it into actionbefore he even called us.
Like it was it was alreadyunderway.
Like there's uh a lot ofmomentum that you had built,
connections that you had built,and you just put us in contact
with the right people in orderto get those designs approved uh
for those projects.
So I just if if you're takinganything away from this
(12:54):
conversation, it's it's have aplan and start early, because
that's the tough part, right?
SPEAKER_01 (12:59):
And that's where I think we've learned a lot
together in this, because you'reright, the plan is everything.
Because when again, when we'refighting against the dollar, a
plan saves money.
So when you have a plan and youactually execute it, the gaps
between your, oh, what do we dowith this decision?
That's money, you know, that'sactual money.
So we have to actually tightenthose up.
(13:20):
And actually, that's how we'reactually saving money as well,
because we have a plan in place,you know, asking the city to
drop the boxes the night beforeso that we can set in 53 minutes
and have the crane for twohours.
You know what I'm saying?
Like that saves a ton of money,you know.
And in modular, we had you knowuh a crane there all day.
Yeah, and so it just it's it'sjust real life where there's so
(13:43):
many factors where everybodywants you to just give me one
answer.
It's like sorry, uh it's morecomplex than that.
So I'm gonna give you two tothree, possibly five if you're
willing to listen.
SPEAKER_04 (13:55):
Oh, go ahead.
Oh, no, no, uh, you know, I'm sointerested because you had to
put down like you it's almostthe cart before the horse, and
we see this happening quite abit.
As a developer, you want tobuild something, but then you
you don't that you don't have adesign, so you can't really you
just have to BS your way throughthe first draft of pro forma.
(14:19):
And then once the design came,then you had some, you know, you
know, some meat that you couldactually cut, you know, cut your
teeth in and really fine-tunethat.
Was there a big difference inthat gap from like you're
spitballing all the way then nowyou have a design, and then you
have one more phase when you getthe actual bids?
(14:40):
Because you started here and itwent down like under budget to
do.
So like okay, talk about thatprocess because that's it's it's
a developer's nightmare to comein to try and pencil something
out when you cannot get a quoteor a really good level estimate
(15:04):
up front.
SPEAKER_01 (15:05):
Yeah, I I want to say this too about Fort Wayne.
We have a really, really goodtrades in Fort Wayne, and and
and that's something that wasvery shown very much so on the
finishes, which I think you guyscould speak into as well because
you're from Detroit.
Um, and the finishes compared tomaybe the modular home that um
was done in a factory withworkers that were obviously from
(15:28):
Indianapolis, not from FortWayne.
And so it was cool to see youknow the quality, honestly, uh
that that is there.
SPEAKER_04 (15:37):
That's amazing.
And so I know everybody's gonnawant to know, and I know is
there a place where people cansee the the actual cost at the
end of the day and an analysisof hey, I like this, but man,
these could really work.
But man, I I'm always gonna do,you know, we are we kind of know
(15:58):
what your thoughts are on all ofthis, but I know that you had
some surprising um results inthe cost per square foot.
SPEAKER_01 (16:06):
Yeah, yeah, actually, the it was it was
really cool.
The goal was to build the nicesthouse possible for$200 a square
foot with these new framingprototypes.
So beautiful.
We we hit that with uh prettymuch all of them as well.
Major was a little bit moreexpensive than the other three
just due to the nature of wherethat company was at, probably,
(16:29):
uh just because there's multiplegeneral contractors.
And so there was an added costthere when you normally would
just have one generalcontractor.
So uh there's just certainthings where, again, look at the
full system, make sure it's afull-turn key.
Uh, and that's kind of who weget, I think our group does very
well taking it from start tofinish.
SPEAKER_02 (16:48):
Now, I'd like to put you on the spot and drill you
the question, like who's thewinner?
But the reality is because I'vebeen involved in this project
since the early stages, and umand I've gotten to see them at
multiple stages of developmentthrough to completion.
Uh, I think they're all winnersin different ways, right?
Um, the modular construction didtechnically happen the fastest,
(17:10):
even though it started later inthe timeline, like everything
was inside the box, right?
So you tied it all together,plugged the systems in, it was
ready to rock.
Uh, the new energy home issuperior in its it's uh it's
it's envelope that requires lessenergy consumption.
Um, it's the most efficient ofthe four models in terms of like
(17:31):
how much you're gonna spend onyour heating and cooling bill.
The the HOUM home product wasalgorithm designed for
efficiency with uh sunlight andand daylighting, and it's the
best bang for your buck.
It was the largest house at thelowest cost per square foot.
And the container house, I maybe a little biased, I think was
the best design, and had themost like uh you know striking
(17:54):
curb appeal and the bestfeatures, and it has a cool
factor that you can't replicatewithout those containers.
So I know that there is like anupside and there's also a
downside to each of the fourmodels, but I'm curious now that
the project is completed and ummaybe some of the social media
dust and the you know the thepress is is starting to uh to
(18:15):
subside.
What have you seen was you knowa winner of sorts in two
categories, um, from the peoplewho worked on the projects and
then from the public perception.
What do you what do you thinkare the strong outcomes?
SPEAKER_01 (18:30):
Yeah, no problem at all.
Yeah, from the public side, uhwe we were blessed to have 1200
people come through.
You guys were down there for it.
So thank you again for comingfor that tour.
Uh, but the general consensus weheard from there was again, uh
almost exactly what you alreadysaid, Brick.
Uh they love the design, thedecks on the container, the deck
coming out of the master, youknow, just uh and at the same
(18:52):
price per square foot.
So uh there are, you know,that's again where it's like as
you can see, it's there's a lotof things to evaluate for your
price per square foot.
Uh, but then second, honestly,uh was home.
Uh, and that was just becausethey understood the energy
efficiencies, the flexibility ofdesign.
I think that's a huge onebecause especially for what
we're tackling with these infilllots and narrow lots, you can
(19:15):
get right to the inch of yourlot, which is really, really
neat.
So people like that flexibilityin that design.
Um, new energy, uh, they lovethat where that was kind of more
uh uh a little cottage.
People people think of that moreof like they were excited for
like the more like eitherretiring or like this is my
first home, you know, and andthey really like that feel.
(19:37):
Now, again, uh, we're trying totake this to the next phase.
We'll see how that goes.
Uh, but then modular, peopleloved the layout in that, uh,
actually.
Like, and I thought it for theuse of square footage, I
personally thought the layoutwas actually really, really good
use of space, to be honest withyou.
Uh, for being that narrow under16 feet wide, um, that was a
(19:58):
good layout for sure.
Um, and then it was good to seethe different finishes.
But yeah, we just again, um,yeah, that's kind of what we see
there.
SPEAKER_03 (20:07):
So, JT, now you're now that you're at the point
where you are, all projects arecompleted.
I want you to touch base onwhere were some of the biggest
hurdles here, but then alsolet's circle back to like what
are some of your pinch memoments?
Because if I could share mine,it's when Brack and I were there
for the actual showcase with theopen house where the first 1200
people showed up.
(20:28):
You literally popped thechampagne bottle, the torque
ricocheted off the container.
That was like a really greatmoment to all celebrate this
huge milestone as a team, evenwith your city and county
contact there as volunteers,excited to be with you
celebrating this journey thatyou went through.
Can you touch on like kind ofboth ends of the spectrum?
SPEAKER_01 (20:47):
Yeah, I would say um oh, the the the the downside of
your first project is calledcash flow.
Uh and that that oh yeah, thathas been the nightmare of me
because uh I have I signedagreements and I had timelines
for those agreements, so Iexpected to get payments on
(21:08):
those times.
And as we know, that doesn'talways happen.
And I did hit my marks, and soyou just have to learn to be
patient and trust and diversify.
Uh, and that that has beenhonestly, if I didn't have to
deal with that or had like ajust like a line of credit or
something, just even small, justto cash flow me and not think
about the cash flow as we buildthese bigger projects, that
(21:31):
would have been huge.
Um, but I think I needed to feelthat.
I think it made me dive in evendeeper and and budget even
better.
Um, and then also I you Iutilized a lot of my friendships
in Fort Wayne.
So, like even our decorator, shecharged me so little uh and and
just did such a good job as youguys saw it there.
Um, she she funded that so well.
Uh the high side, I think the ohman, I may get a little teary,
(21:55):
but the high side is like thisproject for me is.
Uh I had a gap in time whereobviously away for my uh kids
and things like that.
So this this was something I Ijust kind of dove into and and
all of my energy kind of wentinto this.
Um and because I saw such anopen door for the right people,
I would say that's you guys thatI'm talking to now, and also new
(22:17):
energy.
I think he I think Dwayne's onour on my page as well.
And so I'm excited to reallygrow that.
Uh but yeah, so it seeing thisthe high for me is like seeing
that, oh my gosh, this actuallyhappened.
Because like everybody says, oh,JT Day.
It's like, I'm still saying Idid do that.
Whoa.
You know, like I I actuallyafter the showcase, we kind of
(22:38):
our whole team kind of sat backfor a second, like, what just
happened actually?
Because we were just ah and uhrunning because yeah, four
different companies, four tip,as you know, trying to get
media, trying to get uh, youknow, so everybody felt like
they were also paid attentionto, so that everybody got the
right notice between, you know,the four entities.
(23:00):
Uh, because you know, oh, I wantI'm a part of the showcase too.
Uh, and so just making sure, youknow, because that that's my
job.
And and I honestly, I think I Ilove being uh the leader of it
because I get to really makesure things are fair, you know,
and and that's something Ireally enjoy to make sure that
we move forward fairly, becauseI think that's how you move
forward fast, is when peopleknow that he's gonna make a fair
(23:21):
decision, you know, and he'sgonna make sure that if we're
running in this direction, he'snot gonna let us fall in the
sword unless he fell on itfirst.
And and as you guys know, I'vepaid everybody and I still
haven't gotten paid.
And I'm not complaining, butit's you know, I've learned on
these contracts what to sign,what not to sign, and that's
okay.
It's it really is okay.
And and the cool thing is, Godhas helped me out and worked uh
(23:42):
with friends and family thathave completely helped me make
this happen.
So I have a large team behindme.
I know I'm a one face, but thereare so many people supporting
me, and even the people at RoyalDevelopments, we're a small team
right now, but they carry a lot,so just like you guys.
SPEAKER_04 (23:58):
It's amazing.
SPEAKER_01 (23:59):
I think that's the highs and lows for me.
Takes a village, makes a hugeone.
SPEAKER_02 (24:05):
So on the scale of economy equation here, because a
lot of developers would startwith one, right?
The proof of concept.
You started with four proof ofconcept.
Um, I have a question for you.
Do you think that you could havehit that bottom line, uh, that
sweet spot of like$200 a squarefoot if you had only built one
(24:26):
project?
Or was there enough efficienciesbuilt into doing four projects
at the same time that sharedcosts that allowed you to reach
that number?
SPEAKER_01 (24:36):
I'll be fully transparent.
This project, I think even if webuilt one, we would I don't
think we really scaled ofeconomy on there was any economy
of scale, excuse me, uh, to behonest.
It now we did get a little dealbecause we had somebody do our
foundations to foundation tofoundation.
But again, I hired a generalcontractor, and and I don't know
(24:56):
how much was pressed on that.
Um, and so I think that's wherewe can even do better on these
next couple of rounds uh in FortWayne.
SPEAKER_02 (25:05):
Yeah, I understand that because of like different
building types, like you're notbuying four of the same thing
where that economy is, but I wasthinking more of like, yeah,
site work, uh, excavation, um,pouring concrete, and then you
know, different differentequipment rentals.
But I as you said, I mean, youset the five containers for the
(25:26):
container home in a in an hour,you know, which is just like
still mind-boggling to me.
That's a pinch me moment from adistance.
SPEAKER_01 (25:34):
I was like, I want to say this very specifically,
also uh I don't know how we gotthis guy, but it was the best
crane operator I've seen myentire life.
He made those things go up sofast, it come down so I was so
scared, but I was like, don'tslow down because this is a
record, I can see it happening.
So I do want to give him credit.
(25:55):
So you win some, you lose some.
SPEAKER_02 (25:58):
Exactly.
Yeah, lucky, yeah, but thenmaybe you didn't use that crane
on another project because theywere in and out of there so
fast, as opposed to like havinga smaller lull or you know,
landfall on site for a month ata time or something like that.
So that's a really interestingresponse.
And I'm gonna take thatinformation with me as I
continue talking about thisproject because a lot of people
(26:19):
just assume, oh, we did four,obviously, you got like 20% off
all of them.
SPEAKER_01 (26:23):
Yeah.
I think that's only when we doit in line with each unique
specific type, because then wehave the buying power, we have
the the when we, you know, if wego to edit 20 containers, it is
different than doing 20 newenergy homes, you know.
And so we can really get in lineand create the scales in each
specific stream, if you want tosay it that way.
SPEAKER_03 (26:44):
That's okay.
Yeah.
unknown (26:47):
Yeah.
SPEAKER_04 (26:47):
So you um when you say 200 a square foot, I know
the answer to this, but um, Iwant to just make sure everybody
on the phone and who's listeningand have downloaded this podcast
that that's your all-in cost.
SPEAKER_01 (26:59):
Yeah, I need to make that very clear because that's
something people are like$200 tobuild that house.
It's like to build that house toalso then get the permits, to
then also get the ground to alsoeverything.
So turnkey.
So that's not any extra cost.
That's even a performance bond.
So again, I could have takenthose numbers and made it look a
lot better, but I also wantedpeople to understand a new
(27:21):
development project is not easybecause you also have to have
performance bonds.
So that's$40,000 of the project.
No,$53,000 with$53,000 with justa performance bond, you know,
and we were still able to keepit under budget.
It was very difficult.
I luckily had a good teambecause it was really hard.
SPEAKER_02 (27:39):
That's that's incredible.
Except for the property.
SPEAKER_01 (27:44):
No, that on this project it included the
property, but the property, Ineed to say this, was five
thousand dollars.
So I don't want to sure, sure.
SPEAKER_02 (27:52):
But that still is astounding that that is like
true.
SPEAKER_01 (27:55):
Yeah, no, I know, and that's where I that's where
I we were really transparent onthat.
Um, and obviously we had somechanges, so that cost could go
up a little bit, but when we doit the second round, because we
know those changes now, uh Imean, we're good, you know, and
all these little misses, um,which are normal.
I mean, I'll be really honest.
Uh, the city and um also uh thegeneral contractor I hired were
(28:17):
very impressed with how welleverybody took care.
Like you guys did a great jobexplaining the the containers
and also home and bringingpeople onto site to make sure
those things happen well astheir prototypes.
You know, that that type ofcommunication has been really
key.
SPEAKER_03 (28:30):
So I just want to take a second to applaud you,
JT, because I know it takes alot of work to put together a
project team, but your corevalues are like synonymous with
those of three squared.
And so you got like a powerhouseof a team all in the same room.
You really did the work tosurround yourself with the right
people and make these projectshappen.
SPEAKER_01 (28:50):
Jeez, that I really appreciate that.
And it takes one to know one.
So I appreciate you guys, andand it's fun that when we're all
in the same room, which we wenow right now don't get that as
as as often as when I was justcoming up there all the time,
like, this is awesome.
This brought, you know, nowwe're actually really diving
into it.
And it's a really specialmoment, and now that's something
I won't take as for granted as Iprobably did before.
SPEAKER_02 (29:14):
Well, there's a nice, happy, cheerful JT, but I
know the other JT too.
Oh, yeah.
And uh the reason why his teamis so succinct and why they work
together is because if there wasanybody, anybody who crossed the
core values of this group, theywere out immediately.
(29:36):
No questions asked.
There was no do not pass go, donot collect$200.
Like, I'm sorry, you're like,you're done.
And you know, and the number ofprojects that I've been involved
with as an architect, man, ifthat was the rule of thumb,
there would not be half thehurdles that we have to face on
a daily basis.
Like everything could runsmoother if you just cut out the
bad apples as you identifiedthem.
(29:58):
And so, like, that would be myapplause.
Um, it's the only way you pulledthis off is because you
identified those threats earlyand you addressed them head on
immediately.
And that's that's how you gothere, honestly.
SPEAKER_01 (30:11):
Thank you for saying those words.
And I I really couldn't havesaid that better.
You're you're as you can see,guys, communication is
everything, and Breck is verygood at communicating.
So yeah, it's it's it's one ofthose where it's like it's it's
a visual in my mind of like alion and the lamb.
I want to always be the lamb toyou and be kind to you.
But if you if you're an idiot,I'm uh the lion's gonna show up,
(30:34):
you know what I'm saying?
And and and bark you back intoline because we do have a
vision, and that vision uh caneasily be swayed uh by people
that aren't seeing it clearly.
And so if they don't see itclearly, uh yeah, it's just
simple.
It's like you go your way, noproblem, because we're going our
way.
Uh and it's not a it's not adiss, actually.
It's just a hey, let's shakehands, wish you the best.
(30:55):
Uh, this is where we're we'rerunning.
So yeah, thanks for saying that.
SPEAKER_04 (30:59):
You built quite a reputation during construction
with some of the trades.
SPEAKER_01 (31:05):
Yeah, it was it was uh it was exciting because uh
yeah, it again, four prototypes,people you know, frustrated with
how does this go together?
How do we cut through thiscontainer?
How do we and and just it?
But at the same time, I want toflip that where these guys
actually got excited becausethey're used to coming into all
the exact same houses every day.
(31:25):
So honestly, some of the guysthat actually like challenges
and like figuring out things,they were like, Oh, and then hey
JT, did you think about doing itthis way?
Or hey, do you think about andso I actually learned so much as
we went through it too, of otheroptions to do it that way as
well.
And so that's that's what thebeautiful part of the uh
depending on the leadership ofthe project is it can be a
collaborative effort if youreally decide to do it that way.
(31:47):
It's just very hard sometimes tokeep that vision going forward.
SPEAKER_03 (31:52):
You know, that's such a breath of fresh air to
hear that perspective aboutpeople getting excited about
alternative methods ofconstruction, because so many
times we're greeted with theother option where it's just
like someone sees that it's notsticks and bricks, and they're
like, no way, I'm notinterested, or they're they're
very vocal about not being happywith the process along the way
if they do commit.
SPEAKER_01 (32:13):
Yeah, I I couldn't agree more.
And that's why we're reallyconsidering this next generation
of honestly humans that arecoming into the workforce, and
honestly, they're not interestedin getting on hands-on anything.
So we just started a weldingschool last month, and we have
six students from uh thecrossing school here in Fort
Wayne.
And our goal is to encouragethem because again, like
(32:34):
products like home and thecontainer can be tack welded and
welded together.
So we're actually trying to makeit cool and sexy and to
understand like this is actuallyreally cool, and you can
actually be an artist and dosomething, and you're building
something that lasts someone'shome for 75 years, you know.
Uh, this is actually goodthings, and we should be working
because what else are we doing?
We just want to be entertained,like that's not a fulfilling
(32:55):
life, from what I've understood,at least.
SPEAKER_02 (32:59):
The world needs more tradespeople, that is for
certain.
And if you go for the trades,you're gonna make a whole lot
more money than any of us on thecall.
SPEAKER_01 (33:06):
I know, dude.
Seriously, I'm like, honestly,guys, I might get out of
development and go back intoright.
I'm like, because I calculatedhow much I could.
Oh man.
SPEAKER_02 (33:16):
Uh I just love that.
You know, it's it's it's comedown to Fort Wayne.
That's like you say Fort Wayne,and people are like, oh yeah.
SPEAKER_01 (33:23):
Oh man, and there's something, guys.
And that's why actually, youknow what we should do right
now?
We should we should announce ournext project together right now.
SPEAKER_04 (33:32):
I think that's a fantastic idea.
SPEAKER_02 (33:34):
Oh, your lead.
SPEAKER_01 (33:35):
Let's do it.
Let's do it.
SPEAKER_02 (33:37):
I was gonna I was gonna kind of wrap up with the
question of like something nextfor Fort Wayne.
SPEAKER_01 (33:42):
Well, we can get back to it if you want to, but
or that is the question.
SPEAKER_02 (33:45):
So, JJ, what's next for Fort Wayne?
SPEAKER_01 (33:47):
Okay, well, we are super, super excited to be
partnering world developments,partnering with Three Squared
again, and we're doing eighttriplex containers with Bridge
of Grace Ministries in SoutheastFort Wayne.
And so we have a strategic plan.
We can't talk about that rightnow, but it's gonna be so
exciting.
And uh yeah, we're we're halfwaythere on the money already, uh,
(34:09):
and we're excited to see whatJavier and his team has done
down there.
Uh, and we're excited our teamhere to come alongside and get
this actually built for them.
So we were working with the cityalready, and we're excited the
city of Fort Wayne's really beencollaborative because again,
what else how else are we gonnaredo these lots in Southeast?
And they're only gonna getworse.
That and there's no time likethe present.
(34:30):
So we're super stoked.
Uh, but yeah, thank you guys forgetting on this design with us
and making this happen becausewe couldn't have done that
without you.
So I'd love to hear what youguys are excited about with this
one.
SPEAKER_02 (34:39):
Oh, thank goodness I could finally talk about it.
We've been working on thisdesign in the background, I
gotta keep my lips sealed thewhole time.
SPEAKER_04 (34:47):
Um the hardest thing Greg has ever done in his life.
SPEAKER_02 (34:50):
You've grown so much.
Uh no, it's it's the scale ofeconomy, right?
It is maximizing the yield outof containers, right?
Using them in their mostefficient way possible, which is
a modular design.
That doesn't mean that we'relike pre-plumbing them or
running mechanicals and stufflike that.
It just means that the way we'reapproaching the design is like
10,000-pound Legos, right?
(35:12):
Uh and so these designs maximizethe efficiency of containers.
There's three units in eachtwo-level structure.
Um, you know, they're they'refive containers wide, 10
containers in each project.
And we're just we're besideourselves.
We're really, really excited toget this show on the road and uh
plant another flag in the groundin the city of Fort Wayne, which
is truly the pinnacle ofinnovation.
(35:34):
And it's fun to be able to be inDetroit and they're like, we're
the innovative housing experts.
We're like, No, you're not.
No, you're not.
Go look at Fort Wayne.
SPEAKER_01 (35:42):
It's it's amazing because a lot of people have
just laid down their pride andjust worked together.
And like they're like, How canwhat can I do to make this
happen?
unknown (35:50):
Woo!
SPEAKER_01 (35:51):
When you get enough people in the room saying that,
it will happen, you know, andthat's why you you see this
innovation.
SPEAKER_04 (35:56):
Oh, I agree.
I agree.
You know, I think you've I thinkyou've really created an
incredible model.
Um, and you should be proud ofwe have never seen this type of
model anywhere in the entireUnited States.
I've never seen it, period, inmy lifetime.
And you did it.
It's you.
I mean, you, you did this.
SPEAKER_01 (36:15):
There, I I thank you, thank you for saying that,
Leslie.
And and I have been in all themeetings, and I just want to say
thanks.
So it's very clear, thank you tothe team that has supported me
to make this happen because I amjust the face of many others,
and so it's exciting that I getto lead this.
I I feel very grateful for that.
Uh and and and uh, but thatwithout the team that we have in
(36:36):
Fort Wayne, this isn't areality.
So it's exciting to see it cometo fruition.
SPEAKER_04 (36:41):
Wow, we're really thrilled.
And I know that you and Breckand um one of our other
partners, Scott, the three ofyou got to address every single
mayor in the state of Indiana.
And so I'm I'm it I know there'suh this model has has really
been um a showcase for sure.
And I know you guys were able toaddress that.
And I think it's a it's a modelthat many municipalities should
(37:06):
embrace and and can embrace.
And I think it's one of thosemodels that will really help
solve this affordable housingchallenge.
Yes, and I think the model ispeople like you, it needs like
leaders, um, people who aregonna have the transparency and
really have the foresight and umyou know, and the the cojones to
(37:29):
move forward with this.
Because I mean it's not for thefaint of heart.
SPEAKER_01 (37:32):
It's not, and you can't be obsessed with money,
you just can't.
You have to see it as a tool,not as something you're trying
to attain, uh, because it it itchanges the whole thought
process of the project.
Um, because the reality, likefor instance, you know, you hit
that sewer tap in the back andit hits you 20 grand onto your
mortgage.
Well, that's really 40 grandover 30 years, and so those
(37:54):
little things are big deals, youknow.
And so we're we're reallygetting dialed in to make sure
people are being set up for thefuture well, you know, and and
really then it's educating.
So we're really excited to be inthis market and with you guys,
and I think that's who you guysare too.
You're educators, yeah.
Uh and it's really exciting.
SPEAKER_02 (38:14):
So have a plan, prepare for hurdles, surround
yourself with support,like-minded support, and
execute.
There you have it.
The uh the recipe for successfrom JT King of Royal
Developments.
Congratulations again, myfriend, on completing the
innovative housing showcase forunique construction types,
(38:37):
building four habitat forhumanity homes in Fort Wayne,
Indiana.
Thanks for joining us on ourpodcast today.
We will inevitably have you backagain to talk about future
endeavors with the city of FortWayne, including our
collaborative project, TheBridge of Grace, um, which will
be uh coming to you soon.
We will drop links to uh toRoyal Development's social pages
(38:59):
uh so that you can follow alongwith the journey.
And if you want to reach out toJT, he is accessible, um,
surprisingly so to people whowant to tap his brain and uh and
collaborate in the future.
So um, we will offer that aswell.
This has been anotherinstallment of Innovative Real
Estate with Three Squared Inc.
We will see you next time.
SPEAKER_04 (39:18):
Thanks, JT.
Thanks, JT.
You're amazing.
Well done.
SPEAKER_01 (39:21):
Ah, thank you guys, man.
Oh, my day's better now.
Appreciate you guys.
SPEAKER_00 (39:27):
We hope you enjoyed this episode.
And if you found it so valuableyou want to connect with us
one-on-one, click the link inthe description to tell us all
about your project so we canhelp you get started.
And to get notified on the nextepisode here on Innovative Real
Estate, go ahead and subscribeto the podcast on iTunes so you
never miss a beat.
Get out there, put today'sadvice into action, and we will
(39:48):
see you in the next episode.
Welcome to the Innovative Real Estate Podcast
with your hosts Leslie Horn,Brett Crandall, and Claire
Olilla.
We're here to make your lifeeasier as a real estate
developer and teach youeverything we've learned about
designing and buildinginnovative homes, multifamily,
and mixed-use structures.
On this podcast, we'll be givingyou our best advice, trainings,
(00:23):
and QA segments so you can learnfrom our years of experience and
make your innovative vision areality.
SPEAKER_02 (00:29):
Hello, hello, hello, and welcome back to Innovative
Real Estate with Three SquaredInc.
We are your host, Three SquaredInc., Breck Leslie and Jill.
And today we welcome back aguest, turned friend, turned
client, turned returning guestand client and friend.
(00:50):
JT has become uh kind of like anextension of the family, I'm
gonna be honest.
Uh, it's been our absolute andtotal pleasure to work with him
through his developmentstrategy, primarily focused in
the Midwest, um, starting withFort Wayne, Indiana, uh, which
is just an incredible journey,an incredible story.
Uh, we'll link the show notesback to a previous episode that
(01:11):
we did with JT at the onset ofthis endeavor.
Uh, but today uh we are here inour second installment of uh
this Fort Wayne project um thatis now completed.
So we are revisiting theconversation to get um some
lessons learned and what theoutcomes were and a whole lot of
excitement that has beengenerated in moving forward.
(01:34):
So uh again, it is my pleasureto welcome back JT King of Royal
Developments.
JT, please introduce yourself,say hello.
SPEAKER_01 (01:41):
Oh, Brick, uh well, that was a very kind
introduction.
Uh so uh yeah, thank you somuch.
And uh uh yeah, I'm very excitedto be back on and uh excited to
share more about the showcasenow that we're at the end of it.
Um as we know, uh it's easy tohave a great vision, but to
accomplish that vision sometimesvery hard.
So uh very excited that we wereable to partner with Three
(02:02):
Squared because truthfullyspeaking, this showcase um would
not have been possible withoutyour guys' strategic
involvement, uh, also, you know,uh taking things to just just
the next level.
Uh and when you're pushing onthese things, it's very hard to
do that.
Uh so the team that you have uhis everything.
So it's so nice that I can saywith all honesty that you guys
(02:24):
have been the ones that havefollowed through on everything
you've told me you were gonnado.
You did.
And then you didn't just do it,you came down and supported us
in Fort Wayne, uh, you know, andand really see what we're trying
to do as well.
And so we're so thankful forThree Squared and uh the growth
that we've both seen over thelast year.
But I couldn't have growntruthfully without you guys.
So thank you so much.
SPEAKER_04 (02:46):
Wow.
Uh you're welcome.
And JT, you've been just anabsolute treat to work with your
transparency and honesty, andhonesty and and and your
perseverance.
And what I love about it is it'skind of like everyone knows I'm
not an architect.
Sometimes I'll sit in a room andI'll come up with like this
idea, not knowing anything aboutthe field itself.
(03:11):
And then lo and behold, becauseI'm not in it so far, I come up
with a pretty decent idea,right?
I feel like you knew nothing,but you did know a lot.
You knew the process, you knowpeople, you know what your end
goal was.
And so you came into thedevelopment arena, and oh my
(03:34):
lordy, you had a thought, anidea, and you did it, and it was
so non-traditional the way youdid it and the way you went
about it, and now it's a modelthat I think everybody can learn
from and everybody should bedoing when it comes to
municipalities and getting thistype of innovation.
Who the heck builds four housesat once out of all different
(03:56):
kinds of materials?
Oh, and comes in under budgetand in on time and under budget.
Who that well JT King doesn't?
That's what I know.
SPEAKER_01 (04:07):
That's very kindly, guys.
That's very kindly.
It's been a it's been a lot ofwork.
SPEAKER_04 (04:12):
So you just didn't know it couldn't be done, and
you did it.
I love that.
SPEAKER_01 (04:17):
Yeah, we're very fortunate, and and I think uh
the truth of the matter is we'rewe're very fortunate to be doing
this in Fort Wayne.
There is a special group ofpeople in Fort Wayne that really
have a collaborative mindset andwant to not only just have their
city grow, but also heal.
They really care about peoplestill.
Uh, and and that's somethingthat obviously I think our whole
(04:39):
group uh is aligned with.
And so what a what a beautifulthing where you can have a
municipality that has highstandards.
You know, sometimes people gotannoyed about that, about Allen
County being like, well, youcan't build this or you can't
build that.
But uh a lot of times we have tounderstand their standards and
and to keep you know yourhousing and everything at good
value, those standards aregreat, you know.
(05:00):
And so very fortunate that wewere able to do this project
because there's never been acontainer home, uh, there's
never been a home home, there'snever been a new energy home,
and there's never, you know, amodular home inside of the you
know, inside the city limits.
So uh definitely getting givingit a good taste and a good feel
so people could make their ownjudgments.
That's the whole goal, right?
It was to educate, not justsell.
(05:22):
And so it's it's kind of abeautiful thing where we've
really learned that because I'mnot great at sales, I'll be
honest with you, but I'm good atthis because I know it's truth,
you know, and so for me, I canpush that and I can push
understanding and and I lovewhat you guys have been doing
and creating.
And so uh the reality is thatmost of it comes down to
communication, and I thinkthat's kind of where world
(05:43):
developments and myself arereally good at is uh getting
people that don't necessarilyunderstand each other to
understand each other.
Uh and that's how you reallymake a project go from A to Z,
in my opinion.
Uh, and that's very difficult inan individualistic society.
SPEAKER_04 (05:58):
So, JT, how did you navigate four projects at once?
And then I know one of thequestions on the table is also
like you've been working in thecity of Fort Wayne with some
heavy hitters there that didcreate a standard.
And you know, how you reallycreated something very unique,
uh super unique.
And I know Breck probably wantsto pipe in here as well.
(06:21):
But when you were putting up thefour houses, tell us just a
little bit about that becausethese were all different models,
all different types, alldifferent styles.
SPEAKER_02 (06:28):
You will start with reminding the listeners exactly
what the project was, because wekeep saying the projects, but it
was the innovative housingshowcase, which was four
projects, and so you can you cantalk a little bit about that as
you express like how it wasworking on four different
projects, but at the same timeand in the same place.
SPEAKER_01 (06:46):
Yeah, luckily, uh we did four separate builds.
Luckily, two of them were withyou, so that did simplify the
process a lot.
I think if I worked with fourindividual architects, that
would have been way more, if I'mbeing honest.
I was already stretched becauseremember, everybody has their
different systems.
So three squared talks to eachother differently than
(07:07):
necessarily, you know, somebodywith uh new energy or uh the
modular build.
They everybody has differentcommunication styles, and so you
have to understand how eachsystem works so that you can
speak into those where they'reheaded too.
Because the good thing about us,we have very similar visions.
So it's easy for us to be like,oh, great, let you know, let's
(07:29):
go.
Uh and so, but the the thing forme was there's a lot of faith in
this project, if I'm beinghonest with you.
Like, for instance, I'll giveyou, let's just have some fun.
So, for instance, on the modularhome, that's obviously built in
a factory and uh um uh setafterwards.
So uh the lot that we had, uh itwas sold to me, and this was a
(07:49):
mistake.
So, this is not me hating on thecity by any means.
They already know this, uh, butthey sold it to me as a C three
lot.
And obviously, I was kind of ina rush at that current point of
the project.
So I just was like, Yep, cool,all right, great, signed over to
me.
Awesome, didn't read the finedetails, that's on me.
Uh, and so is C three.
So we're building a house in afactory, and I have a C three
(08:09):
lot.
Can you explain to me what thatmeans?
Yeah, no problem.
So C three is the commerciallot.
So uh there's obviously there'sdifferent C's in the commercial,
uh, but to break it down alittle bit, it's not
residential, so you can't builda home like that.
So yeah, so then we had to gounderneath uh, and and mind you,
that was a used to be a gasstation uh back in the day.
(08:30):
So we had mitigated the tanksthe year before.
Uh so you know, you know, no redflags on the lot at all for you
know them to be like, I don'tthink we should approve this,
but thank God the city of FortWayne, you know, they were
really dialed in with us aswell.
They saw what was going on.
I still had to go through thenormal process because obviously
you do.
Uh, but luckily they worked withus uh and and uh we were able to
(08:51):
mitigate that.
So it it was.
And and then I think the key isas a developer, is there can be
things on fire, but if as longas there's a plan, that's where
I just keep I sit on that.
That's my job to to handle thoseand put them out and just get
everybody to do what they'regood at, um, and and kind of
that communication.
But yeah, it was it was crazy.
I would highly recommend notdoing this unless you have good
(09:14):
connections in your city.
Because again, like habitat, myconnections there.
I had people that were friendsthere as well.
So though we've been using thatas our model, uh, it did work
well in Fort Wayne just becauseI kind of already knew these
people.
So we were able to kind ofcreate this model, but we're
excited to expand this becausewe are uh over the next you know
couple months formulating awhole GC school for this stuff.
(09:36):
So we're looking forward to it.
SPEAKER_03 (09:39):
So, JT, I have a big question for you because you
developed four houses at onceand all different construction
typologies.
And I know that a lot ofdevelopers are curious how do
you actually make the processstart to finish?
And now that you've completedthem, I think a lot of people
would be curious as to how youmade the project's pencil, not
only on time and under budget,but like how were some of the
(10:02):
initial fundings gathered?
And I think that goes inconjunction with your really
good relationship with the cityand the county.
SPEAKER_01 (10:08):
Yeah, I mean, we I'll be honest with you, I'm
super blessed on this on thisproject.
I need to just say that first.
Uh, because I went around toabout eight to ten banks in the
local community.
And because I don't have a longtrack record, I wasn't able to
get approved, uh, whicheverybody kind of knows because
they have to follow their checkboxes.
Uh, but the city of Fort Waynesaw all the things I had put
(10:29):
together and saw that I was veryhonest and open with my numbers
and making sure subcontractorswere doing their due diligence.
Um, and and they ended upactually funding it through one
of their funds.
So we were able to use thefederal home funds grant, which
we said about in the firstpodcast, uh, which worked really
well.
Uh, and you luckily we did stayunder budget.
(10:50):
Oh man, that would have been anightmare.
Because we uh luckily the cityhad a you know a contingency,
obviously.
Because, for instance, okay,another thing we ran into in the
project, we did our duediligence and uh in the uh the
sewer drain was actually madeout of tile.
And so when you tap into that,that's a very different tap fee.
Usually the tap fees may bearound 1,500 to three grand
(11:12):
around here, this justdepending.
Uh, but this one was 19,500.
So, so as you can understand,part of this project too was for
also the city to understand whatthey're going to be running into
as they try to get rid of theselots that they own, because they
have over a thousand of themhere that they're trying to get
people to move on and develop.
So, this is kind of the firstkey to opening up uh the rest of
(11:35):
the sides of you know appraisalgaps.
And there's so much we'reagainst, which we talk about all
the time in our meetings, youknow, uh, but it's so deep we
could have like four podcasts onthis.
I mean, uh there the problem'slarge, so the team has to be
larger.
Uh, and I think that's whatwe're all finding out.
SPEAKER_02 (11:52):
Well, if there's any lesson learned from this entire
conversation, uh, if you are anaspiring developer or somebody
wants to take on a project, uh,the one thing you should take
away from this is have yourducks in a row before you start.
I mean, if you don't have a planof action and have that set in
place, like the design, I cannotsay this enough, is the easy
part.
(12:12):
The the building itself isactually one of the easiest
parts of the entire process.
And sure, it comes with itshurdles.
But if you don't have thatsupport and you don't have a
plan of action in place and youhaven't figured out financing
and how you're going to navigatethe red tape with the city and
those hurdles that any site canbring, um, then you're you're
kind of setting yourself up forfailure.
(12:33):
And that's where JT like shinesabove the rest, is he had that
plan and he put it into actionbefore he even called us.
Like it was it was alreadyunderway.
Like there's uh a lot ofmomentum that you had built,
connections that you had built,and you just put us in contact
with the right people in orderto get those designs approved uh
for those projects.
So I just if if you're takinganything away from this
(12:54):
conversation, it's it's have aplan and start early, because
that's the tough part, right?
SPEAKER_01 (12:59):
And that's where I think we've learned a lot
together in this, because you'reright, the plan is everything.
Because when again, when we'refighting against the dollar, a
plan saves money.
So when you have a plan and youactually execute it, the gaps
between your, oh, what do we dowith this decision?
That's money, you know, that'sactual money.
So we have to actually tightenthose up.
(13:20):
And actually, that's how we'reactually saving money as well,
because we have a plan in place,you know, asking the city to
drop the boxes the night beforeso that we can set in 53 minutes
and have the crane for twohours.
You know what I'm saying?
Like that saves a ton of money,you know.
And in modular, we had you knowuh a crane there all day.
Yeah, and so it just it's it'sjust real life where there's so
(13:43):
many factors where everybodywants you to just give me one
answer.
It's like sorry, uh it's morecomplex than that.
So I'm gonna give you two tothree, possibly five if you're
willing to listen.
SPEAKER_04 (13:55):
Oh, go ahead.
Oh, no, no, uh, you know, I'm sointerested because you had to
put down like you it's almostthe cart before the horse, and
we see this happening quite abit.
As a developer, you want tobuild something, but then you
you don't that you don't have adesign, so you can't really you
just have to BS your way throughthe first draft of pro forma.
(14:19):
And then once the design came,then you had some, you know, you
know, some meat that you couldactually cut, you know, cut your
teeth in and really fine-tunethat.
Was there a big difference inthat gap from like you're
spitballing all the way then nowyou have a design, and then you
have one more phase when you getthe actual bids?
(14:40):
Because you started here and itwent down like under budget to
do.
So like okay, talk about thatprocess because that's it's it's
a developer's nightmare to comein to try and pencil something
out when you cannot get a quoteor a really good level estimate
(15:04):
up front.
SPEAKER_01 (15:05):
Yeah, I I want to say this too about Fort Wayne.
We have a really, really goodtrades in Fort Wayne, and and
and that's something that wasvery shown very much so on the
finishes, which I think you guyscould speak into as well because
you're from Detroit.
Um, and the finishes compared tomaybe the modular home that um
was done in a factory withworkers that were obviously from
(15:28):
Indianapolis, not from FortWayne.
And so it was cool to see youknow the quality, honestly, uh
that that is there.
SPEAKER_04 (15:37):
That's amazing.
And so I know everybody's gonnawant to know, and I know is
there a place where people cansee the the actual cost at the
end of the day and an analysisof hey, I like this, but man,
these could really work.
But man, I I'm always gonna do,you know, we are we kind of know
(15:58):
what your thoughts are on all ofthis, but I know that you had
some surprising um results inthe cost per square foot.
SPEAKER_01 (16:06):
Yeah, yeah, actually, the it was it was
really cool.
The goal was to build the nicesthouse possible for$200 a square
foot with these new framingprototypes.
So beautiful.
We we hit that with uh prettymuch all of them as well.
Major was a little bit moreexpensive than the other three
just due to the nature of wherethat company was at, probably,
(16:29):
uh just because there's multiplegeneral contractors.
And so there was an added costthere when you normally would
just have one generalcontractor.
So uh there's just certainthings where, again, look at the
full system, make sure it's afull-turn key.
Uh, and that's kind of who weget, I think our group does very
well taking it from start tofinish.
SPEAKER_02 (16:48):
Now, I'd like to put you on the spot and drill you
the question, like who's thewinner?
But the reality is because I'vebeen involved in this project
since the early stages, and umand I've gotten to see them at
multiple stages of developmentthrough to completion.
Uh, I think they're all winnersin different ways, right?
Um, the modular construction didtechnically happen the fastest,
(17:10):
even though it started later inthe timeline, like everything
was inside the box, right?
So you tied it all together,plugged the systems in, it was
ready to rock.
Uh, the new energy home issuperior in its it's uh it's
it's envelope that requires lessenergy consumption.
Um, it's the most efficient ofthe four models in terms of like
(17:31):
how much you're gonna spend onyour heating and cooling bill.
The the HOUM home product wasalgorithm designed for
efficiency with uh sunlight andand daylighting, and it's the
best bang for your buck.
It was the largest house at thelowest cost per square foot.
And the container house, I maybe a little biased, I think was
the best design, and had themost like uh you know striking
(17:54):
curb appeal and the bestfeatures, and it has a cool
factor that you can't replicatewithout those containers.
So I know that there is like anupside and there's also a
downside to each of the fourmodels, but I'm curious now that
the project is completed and ummaybe some of the social media
dust and the you know the thepress is is starting to uh to
(18:15):
subside.
What have you seen was you knowa winner of sorts in two
categories, um, from the peoplewho worked on the projects and
then from the public perception.
What do you what do you thinkare the strong outcomes?
SPEAKER_01 (18:30):
Yeah, no problem at all.
Yeah, from the public side, uhwe we were blessed to have 1200
people come through.
You guys were down there for it.
So thank you again for comingfor that tour.
Uh, but the general consensus weheard from there was again, uh
almost exactly what you alreadysaid, Brick.
Uh they love the design, thedecks on the container, the deck
coming out of the master, youknow, just uh and at the same
(18:52):
price per square foot.
So uh there are, you know,that's again where it's like as
you can see, it's there's a lotof things to evaluate for your
price per square foot.
Uh, but then second, honestly,uh was home.
Uh, and that was just becausethey understood the energy
efficiencies, the flexibility ofdesign.
I think that's a huge onebecause especially for what
we're tackling with these infilllots and narrow lots, you can
(19:15):
get right to the inch of yourlot, which is really, really
neat.
So people like that flexibilityin that design.
Um, new energy, uh, they lovethat where that was kind of more
uh uh a little cottage.
People people think of that moreof like they were excited for
like the more like eitherretiring or like this is my
first home, you know, and andthey really like that feel.
(19:37):
Now, again, uh, we're trying totake this to the next phase.
We'll see how that goes.
Uh, but then modular, peopleloved the layout in that, uh,
actually.
Like, and I thought it for theuse of square footage, I
personally thought the layoutwas actually really, really good
use of space, to be honest withyou.
Uh, for being that narrow under16 feet wide, um, that was a
(19:58):
good layout for sure.
Um, and then it was good to seethe different finishes.
But yeah, we just again, um,yeah, that's kind of what we see
there.
SPEAKER_03 (20:07):
So, JT, now you're now that you're at the point
where you are, all projects arecompleted.
I want you to touch base onwhere were some of the biggest
hurdles here, but then alsolet's circle back to like what
are some of your pinch memoments?
Because if I could share mine,it's when Brack and I were there
for the actual showcase with theopen house where the first 1200
people showed up.
(20:28):
You literally popped thechampagne bottle, the torque
ricocheted off the container.
That was like a really greatmoment to all celebrate this
huge milestone as a team, evenwith your city and county
contact there as volunteers,excited to be with you
celebrating this journey thatyou went through.
Can you touch on like kind ofboth ends of the spectrum?
SPEAKER_01 (20:47):
Yeah, I would say um oh, the the the the downside of
your first project is calledcash flow.
Uh and that that oh yeah, thathas been the nightmare of me
because uh I have I signedagreements and I had timelines
for those agreements, so Iexpected to get payments on
(21:08):
those times.
And as we know, that doesn'talways happen.
And I did hit my marks, and soyou just have to learn to be
patient and trust and diversify.
Uh, and that that has beenhonestly, if I didn't have to
deal with that or had like ajust like a line of credit or
something, just even small, justto cash flow me and not think
about the cash flow as we buildthese bigger projects, that
(21:31):
would have been huge.
Um, but I think I needed to feelthat.
I think it made me dive in evendeeper and and budget even
better.
Um, and then also I you Iutilized a lot of my friendships
in Fort Wayne.
So, like even our decorator, shecharged me so little uh and and
just did such a good job as youguys saw it there.
Um, she she funded that so well.
Uh the high side, I think the ohman, I may get a little teary,
(21:55):
but the high side is like thisproject for me is.
Uh I had a gap in time whereobviously away for my uh kids
and things like that.
So this this was something I Ijust kind of dove into and and
all of my energy kind of wentinto this.
Um and because I saw such anopen door for the right people,
I would say that's you guys thatI'm talking to now, and also new
(22:17):
energy.
I think he I think Dwayne's onour on my page as well.
And so I'm excited to reallygrow that.
Uh but yeah, so it seeing thisthe high for me is like seeing
that, oh my gosh, this actuallyhappened.
Because like everybody says, oh,JT Day.
It's like, I'm still saying Idid do that.
Whoa.
You know, like I I actuallyafter the showcase, we kind of
(22:38):
our whole team kind of sat backfor a second, like, what just
happened actually?
Because we were just ah and uhrunning because yeah, four
different companies, four tip,as you know, trying to get
media, trying to get uh, youknow, so everybody felt like
they were also paid attentionto, so that everybody got the
right notice between, you know,the four entities.
(23:00):
Uh, because you know, oh, I wantI'm a part of the showcase too.
Uh, and so just making sure, youknow, because that that's my
job.
And and I honestly, I think I Ilove being uh the leader of it
because I get to really makesure things are fair, you know,
and and that's something Ireally enjoy to make sure that
we move forward fairly, becauseI think that's how you move
forward fast, is when peopleknow that he's gonna make a fair
(23:21):
decision, you know, and he'sgonna make sure that if we're
running in this direction, he'snot gonna let us fall in the
sword unless he fell on itfirst.
And and as you guys know, I'vepaid everybody and I still
haven't gotten paid.
And I'm not complaining, butit's you know, I've learned on
these contracts what to sign,what not to sign, and that's
okay.
It's it really is okay.
And and the cool thing is, Godhas helped me out and worked uh
(23:42):
with friends and family thathave completely helped me make
this happen.
So I have a large team behindme.
I know I'm a one face, but thereare so many people supporting
me, and even the people at RoyalDevelopments, we're a small team
right now, but they carry a lot,so just like you guys.
SPEAKER_04 (23:58):
It's amazing.
SPEAKER_01 (23:59):
I think that's the highs and lows for me.
Takes a village, makes a hugeone.
SPEAKER_02 (24:05):
So on the scale of economy equation here, because a
lot of developers would startwith one, right?
The proof of concept.
You started with four proof ofconcept.
Um, I have a question for you.
Do you think that you could havehit that bottom line, uh, that
sweet spot of like$200 a squarefoot if you had only built one
(24:26):
project?
Or was there enough efficienciesbuilt into doing four projects
at the same time that sharedcosts that allowed you to reach
that number?
SPEAKER_01 (24:36):
I'll be fully transparent.
This project, I think even if webuilt one, we would I don't
think we really scaled ofeconomy on there was any economy
of scale, excuse me, uh, to behonest.
It now we did get a little dealbecause we had somebody do our
foundations to foundation tofoundation.
But again, I hired a generalcontractor, and and I don't know
(24:56):
how much was pressed on that.
Um, and so I think that's wherewe can even do better on these
next couple of rounds uh in FortWayne.
SPEAKER_02 (25:05):
Yeah, I understand that because of like different
building types, like you're notbuying four of the same thing
where that economy is, but I wasthinking more of like, yeah,
site work, uh, excavation, um,pouring concrete, and then you
know, different differentequipment rentals.
But I as you said, I mean, youset the five containers for the
(25:26):
container home in a in an hour,you know, which is just like
still mind-boggling to me.
That's a pinch me moment from adistance.
SPEAKER_01 (25:34):
I was like, I want to say this very specifically,
also uh I don't know how we gotthis guy, but it was the best
crane operator I've seen myentire life.
He made those things go up sofast, it come down so I was so
scared, but I was like, don'tslow down because this is a
record, I can see it happening.
So I do want to give him credit.
(25:55):
So you win some, you lose some.
SPEAKER_02 (25:58):
Exactly.
Yeah, lucky, yeah, but thenmaybe you didn't use that crane
on another project because theywere in and out of there so
fast, as opposed to like havinga smaller lull or you know,
landfall on site for a month ata time or something like that.
So that's a really interestingresponse.
And I'm gonna take thatinformation with me as I
continue talking about thisproject because a lot of people
(26:19):
just assume, oh, we did four,obviously, you got like 20% off
all of them.
SPEAKER_01 (26:23):
Yeah.
I think that's only when we doit in line with each unique
specific type, because then wehave the buying power, we have
the the when we, you know, if wego to edit 20 containers, it is
different than doing 20 newenergy homes, you know.
And so we can really get in lineand create the scales in each
specific stream, if you want tosay it that way.
SPEAKER_03 (26:44):
That's okay.
Yeah.
unknown (26:47):
Yeah.
SPEAKER_04 (26:47):
So you um when you say 200 a square foot, I know
the answer to this, but um, Iwant to just make sure everybody
on the phone and who's listeningand have downloaded this podcast
that that's your all-in cost.
SPEAKER_01 (26:59):
Yeah, I need to make that very clear because that's
something people are like$200 tobuild that house.
It's like to build that house toalso then get the permits, to
then also get the ground to alsoeverything.
So turnkey.
So that's not any extra cost.
That's even a performance bond.
So again, I could have takenthose numbers and made it look a
lot better, but I also wantedpeople to understand a new
(27:21):
development project is not easybecause you also have to have
performance bonds.
So that's$40,000 of the project.
No,$53,000 with$53,000 with justa performance bond, you know,
and we were still able to keepit under budget.
It was very difficult.
I luckily had a good teambecause it was really hard.
SPEAKER_02 (27:39):
That's that's incredible.
Except for the property.
SPEAKER_01 (27:44):
No, that on this project it included the
property, but the property, Ineed to say this, was five
thousand dollars.
So I don't want to sure, sure.
SPEAKER_02 (27:52):
But that still is astounding that that is like
true.
SPEAKER_01 (27:55):
Yeah, no, I know, and that's where I that's where
I we were really transparent onthat.
Um, and obviously we had somechanges, so that cost could go
up a little bit, but when we doit the second round, because we
know those changes now, uh Imean, we're good, you know, and
all these little misses, um,which are normal.
I mean, I'll be really honest.
Uh, the city and um also uh thegeneral contractor I hired were
(28:17):
very impressed with how welleverybody took care.
Like you guys did a great jobexplaining the the containers
and also home and bringingpeople onto site to make sure
those things happen well astheir prototypes.
You know, that that type ofcommunication has been really
key.
SPEAKER_03 (28:30):
So I just want to take a second to applaud you,
JT, because I know it takes alot of work to put together a
project team, but your corevalues are like synonymous with
those of three squared.
And so you got like a powerhouseof a team all in the same room.
You really did the work tosurround yourself with the right
people and make these projectshappen.
SPEAKER_01 (28:50):
Jeez, that I really appreciate that.
And it takes one to know one.
So I appreciate you guys, andand it's fun that when we're all
in the same room, which we wenow right now don't get that as
as as often as when I was justcoming up there all the time,
like, this is awesome.
This brought, you know, nowwe're actually really diving
into it.
And it's a really specialmoment, and now that's something
I won't take as for granted as Iprobably did before.
SPEAKER_02 (29:14):
Well, there's a nice, happy, cheerful JT, but I
know the other JT too.
Oh, yeah.
And uh the reason why his teamis so succinct and why they work
together is because if there wasanybody, anybody who crossed the
core values of this group, theywere out immediately.
(29:36):
No questions asked.
There was no do not pass go, donot collect$200.
Like, I'm sorry, you're like,you're done.
And you know, and the number ofprojects that I've been involved
with as an architect, man, ifthat was the rule of thumb,
there would not be half thehurdles that we have to face on
a daily basis.
Like everything could runsmoother if you just cut out the
bad apples as you identifiedthem.
(29:58):
And so, like, that would be myapplause.
Um, it's the only way you pulledthis off is because you
identified those threats earlyand you addressed them head on
immediately.
And that's that's how you gothere, honestly.
SPEAKER_01 (30:11):
Thank you for saying those words.
And I I really couldn't havesaid that better.
You're you're as you can see,guys, communication is
everything, and Breck is verygood at communicating.
So yeah, it's it's it's one ofthose where it's like it's it's
a visual in my mind of like alion and the lamb.
I want to always be the lamb toyou and be kind to you.
But if you if you're an idiot,I'm uh the lion's gonna show up,
(30:34):
you know what I'm saying?
And and and bark you back intoline because we do have a
vision, and that vision uh caneasily be swayed uh by people
that aren't seeing it clearly.
And so if they don't see itclearly, uh yeah, it's just
simple.
It's like you go your way, noproblem, because we're going our
way.
Uh and it's not a it's not adiss, actually.
It's just a hey, let's shakehands, wish you the best.
(30:55):
Uh, this is where we're we'rerunning.
So yeah, thanks for saying that.
SPEAKER_04 (30:59):
You built quite a reputation during construction
with some of the trades.
SPEAKER_01 (31:05):
Yeah, it was it was uh it was exciting because uh
yeah, it again, four prototypes,people you know, frustrated with
how does this go together?
How do we cut through thiscontainer?
How do we and and just it?
But at the same time, I want toflip that where these guys
actually got excited becausethey're used to coming into all
the exact same houses every day.
(31:25):
So honestly, some of the guysthat actually like challenges
and like figuring out things,they were like, Oh, and then hey
JT, did you think about doing itthis way?
Or hey, do you think about andso I actually learned so much as
we went through it too, of otheroptions to do it that way as
well.
And so that's that's what thebeautiful part of the uh
depending on the leadership ofthe project is it can be a
collaborative effort if youreally decide to do it that way.
(31:47):
It's just very hard sometimes tokeep that vision going forward.
SPEAKER_03 (31:52):
You know, that's such a breath of fresh air to
hear that perspective aboutpeople getting excited about
alternative methods ofconstruction, because so many
times we're greeted with theother option where it's just
like someone sees that it's notsticks and bricks, and they're
like, no way, I'm notinterested, or they're they're
very vocal about not being happywith the process along the way
if they do commit.
SPEAKER_01 (32:13):
Yeah, I I couldn't agree more.
And that's why we're reallyconsidering this next generation
of honestly humans that arecoming into the workforce, and
honestly, they're not interestedin getting on hands-on anything.
So we just started a weldingschool last month, and we have
six students from uh thecrossing school here in Fort
Wayne.
And our goal is to encouragethem because again, like
(32:34):
products like home and thecontainer can be tack welded and
welded together.
So we're actually trying to makeit cool and sexy and to
understand like this is actuallyreally cool, and you can
actually be an artist and dosomething, and you're building
something that lasts someone'shome for 75 years, you know.
Uh, this is actually goodthings, and we should be working
because what else are we doing?
We just want to be entertained,like that's not a fulfilling
(32:55):
life, from what I've understood,at least.
SPEAKER_02 (32:59):
The world needs more tradespeople, that is for
certain.
And if you go for the trades,you're gonna make a whole lot
more money than any of us on thecall.
SPEAKER_01 (33:06):
I know, dude.
Seriously, I'm like, honestly,guys, I might get out of
development and go back intoright.
I'm like, because I calculatedhow much I could.
Oh man.
SPEAKER_02 (33:16):
Uh I just love that.
You know, it's it's it's comedown to Fort Wayne.
That's like you say Fort Wayne,and people are like, oh yeah.
SPEAKER_01 (33:23):
Oh man, and there's something, guys.
And that's why actually, youknow what we should do right
now?
We should we should announce ournext project together right now.
SPEAKER_04 (33:32):
I think that's a fantastic idea.
SPEAKER_02 (33:34):
Oh, your lead.
SPEAKER_01 (33:35):
Let's do it.
Let's do it.
SPEAKER_02 (33:37):
I was gonna I was gonna kind of wrap up with the
question of like something nextfor Fort Wayne.
SPEAKER_01 (33:42):
Well, we can get back to it if you want to, but
or that is the question.
SPEAKER_02 (33:45):
So, JJ, what's next for Fort Wayne?
SPEAKER_01 (33:47):
Okay, well, we are super, super excited to be
partnering world developments,partnering with Three Squared
again, and we're doing eighttriplex containers with Bridge
of Grace Ministries in SoutheastFort Wayne.
And so we have a strategic plan.
We can't talk about that rightnow, but it's gonna be so
exciting.
And uh yeah, we're we're halfwaythere on the money already, uh,
(34:09):
and we're excited to see whatJavier and his team has done
down there.
Uh, and we're excited our teamhere to come alongside and get
this actually built for them.
So we were working with the cityalready, and we're excited the
city of Fort Wayne's really beencollaborative because again,
what else how else are we gonnaredo these lots in Southeast?
And they're only gonna getworse.
That and there's no time likethe present.
(34:30):
So we're super stoked.
Uh, but yeah, thank you guys forgetting on this design with us
and making this happen becausewe couldn't have done that
without you.
So I'd love to hear what youguys are excited about with this
one.
SPEAKER_02 (34:39):
Oh, thank goodness I could finally talk about it.
We've been working on thisdesign in the background, I
gotta keep my lips sealed thewhole time.
SPEAKER_04 (34:47):
Um the hardest thing Greg has ever done in his life.
SPEAKER_02 (34:50):
You've grown so much.
Uh no, it's it's the scale ofeconomy, right?
It is maximizing the yield outof containers, right?
Using them in their mostefficient way possible, which is
a modular design.
That doesn't mean that we'relike pre-plumbing them or
running mechanicals and stufflike that.
It just means that the way we'reapproaching the design is like
10,000-pound Legos, right?
(35:12):
Uh and so these designs maximizethe efficiency of containers.
There's three units in eachtwo-level structure.
Um, you know, they're they'refive containers wide, 10
containers in each project.
And we're just we're besideourselves.
We're really, really excited toget this show on the road and uh
plant another flag in the groundin the city of Fort Wayne, which
is truly the pinnacle ofinnovation.
(35:34):
And it's fun to be able to be inDetroit and they're like, we're
the innovative housing experts.
We're like, No, you're not.
No, you're not.
Go look at Fort Wayne.
SPEAKER_01 (35:42):
It's it's amazing because a lot of people have
just laid down their pride andjust worked together.
And like they're like, How canwhat can I do to make this
happen?
unknown (35:50):
Woo!
SPEAKER_01 (35:51):
When you get enough people in the room saying that,
it will happen, you know, andthat's why you you see this
innovation.
SPEAKER_04 (35:56):
Oh, I agree.
I agree.
You know, I think you've I thinkyou've really created an
incredible model.
Um, and you should be proud ofwe have never seen this type of
model anywhere in the entireUnited States.
I've never seen it, period, inmy lifetime.
And you did it.
It's you.
I mean, you, you did this.
SPEAKER_01 (36:15):
There, I I thank you, thank you for saying that,
Leslie.
And and I have been in all themeetings, and I just want to say
thanks.
So it's very clear, thank you tothe team that has supported me
to make this happen because I amjust the face of many others,
and so it's exciting that I getto lead this.
I I feel very grateful for that.
Uh and and and uh, but thatwithout the team that we have in
(36:36):
Fort Wayne, this isn't areality.
So it's exciting to see it cometo fruition.
SPEAKER_04 (36:41):
Wow, we're really thrilled.
And I know that you and Breckand um one of our other
partners, Scott, the three ofyou got to address every single
mayor in the state of Indiana.
And so I'm I'm it I know there'suh this model has has really
been um a showcase for sure.
And I know you guys were able toaddress that.
And I think it's a it's a modelthat many municipalities should
(37:06):
embrace and and can embrace.
And I think it's one of thosemodels that will really help
solve this affordable housingchallenge.
Yes, and I think the model ispeople like you, it needs like
leaders, um, people who aregonna have the transparency and
really have the foresight and umyou know, and the the cojones to
(37:29):
move forward with this.
Because I mean it's not for thefaint of heart.
SPEAKER_01 (37:32):
It's not, and you can't be obsessed with money,
you just can't.
You have to see it as a tool,not as something you're trying
to attain, uh, because it it itchanges the whole thought
process of the project.
Um, because the reality, likefor instance, you know, you hit
that sewer tap in the back andit hits you 20 grand onto your
mortgage.
Well, that's really 40 grandover 30 years, and so those
(37:54):
little things are big deals, youknow.
And so we're we're reallygetting dialed in to make sure
people are being set up for thefuture well, you know, and and
really then it's educating.
So we're really excited to be inthis market and with you guys,
and I think that's who you guysare too.
You're educators, yeah.
Uh and it's really exciting.
SPEAKER_02 (38:14):
So have a plan, prepare for hurdles, surround
yourself with support,like-minded support, and
execute.
There you have it.
The uh the recipe for successfrom JT King of Royal
Developments.
Congratulations again, myfriend, on completing the
innovative housing showcase forunique construction types,
(38:37):
building four habitat forhumanity homes in Fort Wayne,
Indiana.
Thanks for joining us on ourpodcast today.
We will inevitably have you backagain to talk about future
endeavors with the city of FortWayne, including our
collaborative project, TheBridge of Grace, um, which will
be uh coming to you soon.
We will drop links to uh toRoyal Development's social pages
(38:59):
uh so that you can follow alongwith the journey.
And if you want to reach out toJT, he is accessible, um,
surprisingly so to people whowant to tap his brain and uh and
collaborate in the future.
So um, we will offer that aswell.
This has been anotherinstallment of Innovative Real
Estate with Three Squared Inc.
We will see you next time.
SPEAKER_04 (39:18):
Thanks, JT.
Thanks, JT.
You're amazing.
Well done.
SPEAKER_01 (39:21):
Ah, thank you guys, man.
Oh, my day's better now.
Appreciate you guys.
SPEAKER_00 (39:27):
We hope you enjoyed this episode.
And if you found it so valuableyou want to connect with us
one-on-one, click the link inthe description to tell us all
about your project so we canhelp you get started.
And to get notified on the nextepisode here on Innovative Real
Estate, go ahead and subscribeto the podcast on iTunes so you
never miss a beat.
Get out there, put today'sadvice into action, and we will
(39:48):
see you in the next episode.
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