From roofing to real estate development, Dusten’s journey is a story of unexpected twists and turns.
With his mother by his side, they built their first property twenty years ago and discovered the value of holding onto properties for at least five years.
But Dusten’s passion for creating successful developments went beyond just maximising profits. In fact, it became an art form.
His keen eye for detail and ability to envision properties before construction began led him to multifamily projects, where he could scale his business and create more profitable and stress-free investments.
“You have to look at things from a more of a creative, artistic side, but then at the same time you have to do your gmath on a napkin to make sure that it’s an actually feasible project.”
In this episode, you will be able to:
👉Gain a deeper understanding of the ever-evolving real estate development landscape
👉Weigh the potential rewards and risks associated with both multifamily and single housing markets.
👉Adopt creative strategies in real estate development
👉Leverage vertical integration and increase efficiency in your real estate business.
👉Utilise networking and relationship-building to uncover untapped opportunities in real estate development.
About Dusten Dusten Hendrickson
Dusten develops real estate, purchases existing value add real estate, and invests
passively as an LP. He also helps others to invest in the same deals that he invests in.
Dusten has been involved in RE his whole career. From owning a roofing
company, to building homes, duplexes and apartments. He has
developed new & revitalized old neighborhoods and worked closely
with the historical society, city council, and government officials to
develop adaptive reuse and infill projects.
Dusten has a passion for green building and collaborated with South Dakota State University Dept of architecture to build the first certified Passive House in South Dakota.
Some key points:
(02:21) Starting Out as a Developer,
(06:27) Multifamily Development vs. Building to Sell,
(07:41) Financing Early Deals,
(08:37) Using Own Cash for Equity,
(12:13) The Role of Vision in Property Development,
(13:33) What Makes a Property a Good Investment,
(16:28) Balancing Soft and Hard Skills in Property Development
(19:15) The Value of Good Design in Property Development
(25:38) Expansion and The Future
(29:03) Future of The Industry
(31:01) Green vs Wellness
(33:18) Natural Light and Wellness
(36:59) Introduction
(37:09) Advice for Aspiring Developers,
(37:34) The Sound Deadening Effect of Water
(37:58) Benefits of Living Near Water
(38:09) How to reach out Dusten
🌎Reach out to Dusten Hendrickson
Website https://mailboxmoneyre.com/
LinkedIN
🌎Reach out to JonathanTwombly
LinkedIn: https://www.linkedin.com/in/jonathandtwombly
Loved this episode? Leave us a review and rating on Apple podcasts by clicking here.
Make sure to also check some of our previous episodes:
Going From Working In Hospitality To Multifamily Investing & Hotel Conversions With Charlie Rushton
Hotel Conversions To Multi Family Housing With David Peters
🎤 Podcast production EZPZ Productions
