Jackson Stith, principal at Maverick Capital, discusses land development in the Rio Grande Valley. The region is experiencing population growth and economic development, making it an attractive market for real estate. Maverick Capital focuses on land development projects, primarily in the form of multi-family housing. They conduct extensive due diligence before acquiring land and then proceed with site planning, utility installation, and establishing the necessary legal frameworks. Stith emphasizes the importance of understanding the local market and catering to the specific needs and preferences of the residents. He also discusses the potential for amenities to enhance the value proposition of their projects. In this conversation, Jackson Stith discusses his experience in land development in Mexico. He talks about the amenities that work well in the region, such as playgrounds and pools, and the target buyers for rental properties and townhouses. Stith explains the flow of the development process, from builders leasing up the properties to selling them to investors. He also shares the secret sauce of his success, which includes understanding the market thoroughly, maximizing land efficiency, and problem-solving. Stith discusses his funding strategy, which involves using his own cash upfront and raising money on a deal-by-deal basis. He also shares his vision for the future, including expanding into vertical development and capitalizing on the growing market opportunities in Mexico.
Keywords
land development, Rio Grande Valley, population growth, economic development, multi-family housing, due diligence, site planning, utilities, legal frameworks, amenities, land development, Mexico, amenities, rental properties, townhouses, target buyers, development process, funding strategy, vertical development, market opportunities
Chapters
00:00 Introduction and Overview of Maverick Capital 03:05 The Acquisitions and Development Process 07:46 Local Players and Real Estate on Both Sides of the Border 10:01 Typical Projects and Focus Areas 14:24 The Importance of Amenities in Real Estate Projects 17:41 The Success of Amenities in Land Development 18:17 Target Buyers and the Development Process 20:59 The Secret Sauce of Success in Land Development 22:26 Funding Strategies for Land Development 30:34 The Vision for the Future: Vertical Development and Market Opportunities in Mexico
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