Whoever controls the dirt controls the deals! Where the average person sees dirt, the visionary will see opportunities. Once you learn how to prospect off-market raw land that has development potential, you get to control the deals surrounding that land. Whether people want to buy the land or want to partner with you on projects involving that plot, you’re never left with an empty stomach. Finding the dirt and creating deal flows around it is just one of the tips and tricks Cody Bjugan has up his sleeves! Ready to learn more about 7-Figure paydays from Cody? Cody is a father of 3. He started his career as a flooring salesman but, motivated by his desire to provide an extraordinary life for his family, he searched for a backdoor into the real estate development business. 19 years after finding that backdoor, Cody has been a key player in 30 development projects, developing 2,300 lots/units from raw dirt, creating over $920M in revenue from residential real estate development. Now that Cody is a full-fledged developer, he believes offering others a hand up is a defining part of his legacy. He started VestRight in 2019, to teach others the system that got him into the game, a simple way to create 5 to 7-figure paydays from off-market land deals, without owning or developing the land, without debt, and with very little cash at risk. How is “prospecting” profitable? What are some challenges you face when creating deal flows? What are the basics of Entitlement? How do you create Win/Win scenarios with bigger competitors? Tune in to learn more about the hottest and most relevant information on Real Estate Investing! Thank you all for listening and I will see you on the next episode. When you are ready head on over to https://billyalvaro.com or go grab your tools to help you at https://billyssecrets.com
Whoever controls the dirt controls the deals!
Where the average person sees dirt, the visionary will see opportunities.
Once you learn how to prospect off-market raw land that has development potential, you get to control the deals surrounding that land.
Whether people want to buy the land or want to partner with you on projects involving that plot, you’re never left with an empty stomach.
Finding the dirt and creating deal flows around it is just one of the tips and tricks Cody Bjugan has up his sleeves!
Ready to learn more about 7-Figure paydays from Cody?
Cody is a father of 3. He started his career as a flooring salesman but, motivated by his desire to provide an extraordinary life for his family, he searched for a backdoor into the real estate development business.
19 years after finding that backdoor, Cody has been a key player in 30 development projects, developing 2,300 lots/units from raw dirt, creating over $920M in revenue from residential real estate development.
Now that Cody is a full-fledged developer, he believes offering others a hand up is a defining part of his legacy.
He started VestRight in 2019, to teach others the system that got him into the game, a simple way to create 5 to 7-figure paydays from off-market land deals, without owning or developing the land, without debt, and with very little cash at risk.
How is “prospecting” profitable? What are some challenges you face when creating deal flows? What are the basics of Entitlement? How do you create Win/Win scenarios with bigger competitors?
Tune in to learn more about the hottest and most relevant information on Real Estate Investing!
Thank you all for listening and I will see you on the next episode. When you are ready head on over to https://billyalvaro.com or go grab your tools to help you at https://billyssecrets.com
[00:00:00] BILLY: What's going on everybody. This is Billy. Alvaro the unstoppable BA and this is unstoppable REI wealth episode number 56. I cannot believe 56 episodes. It's flying by listen today. I'm interviewing this dude from the Midwest. Cody Bjugen Cody is into a very serious niche. And when I tell you this guy, his margins are through the roof. I ain't lying. What he does is he figures that figured out how to go. And actually master the art of getting entitlements on property. So he's scouring all across America, finding properties land. Usually it's just dirt, agriculture, dirt, where he's taking it, he's getting it rezoned, getting it entitled, and he's going out and flipping it over to huge developers. And this spreads that this dude is making uh, you're not talking no 50 hundred thousand 200,000 deals. This guy is well into the 7 figures on theflips that he's doing, he's building massive wealth by taking that money and put it into the larger projects. The guy's full of fire, and he loves giving back so much so that he started a process called Piff [00:01:00] purpose impact fulfillment. And I think once you go through this interview with him, which is about 40 minutes, you're going to walk away, shaking your head, saying my God, this guy is a genius and how he loves to give to people is going to put you on a completely different path. Hope you guys enjoy the show.
[00:01:15] Welcome to unstoppable real estate investing wealth. My name is Billy Alvaro, AKA the unstoppable VA former billion dollar mortgage banker gone bankrupt turned professional real estate investor where each week you'll learn the tools, strategies, systems, and secrets myself and other highly successful real estate investing entrepreneurs use to start, grow and scale [00:01:00] their businesses, creating massive profits and how you can too. And we'll teach you how to put those profits to work. So you no longer have to get ready to finally experience financial freedom and generational wealth. Now let's get started.
[00:01:53] What is going on everybody? Welcome back to another episode of unstoppable. I'm your host, Billy Alvaro [00:02:00] the unstoppable BA and I got to tell you this last month of doing these podcasts has been killer. Cause I've had some really good guests on today, man, this one I'm excited about because I'm getting into the development space. I told you guys I'm buying apartment buildings. We started develop some land. I have some projects in long island, and I can tell you firsthand with this gentleman is going to be teaching us about talking about today is what I'm experiencing firsthand. And it is a pain in the ass. It's a complete struggle and it's called entitlements so when you're taking land and making this thing, getting it all pretty packaged up so you can eventually build there's an art and there's some secrets. And today my special guest Cody, and want to make sure you don't kill you last name, Cody Bjugan
[00:02:40] CODY: Bujgan drop the J It's all good brothe
[00:02:43] BILLY: WCody Bujgan Welcometo the show, bro.
[00:02:47] CODY: Thanks for having me, man.
[00:02:48] BILLY: Listen. So I'm excited because I want to know just tell us exactly what your specialty is, because before we got over this, you're like, look, I don't build, I don't develop, I don't do ground up. Like I come [00:03:00] in, I get the land I entitlement and I'm done. So like, what does that actually mean?
[00:03:05] CODY: Well, all we do is we work the magic. So, you know, I've been at this since oh two been self-employed had my land development, home building business, vertical construction company since oh two. But as the last several years, we haven't been going vertical. So we haven't doing building homes or apartments or anything in the store or any vertical construction nor doing any horizontal construction. So I can set divisions putting in the infrastructure, you know, the utilities, the streets, the street lights, you know, everything you see there. We stopped doing that as well. Because of the market and because of the demand and the limited supply, all we've been doing is the first two steps of what we've done the majority of our career. And that is off market prospecting. You know, so being a dirt dog, knowing how to find deals. And let me say that again, off market, off market, off market, everything we do is off market. You bring me an on-market deal more than likely I'm going to pass. Why am I going to pass? Because one of two things, one,of three three things. One it's either. Too, there's something wrong with it [00:04:00] or three, I'm going to have to pay too much for it to get it. So everything we do is off market. And then what we also do is what you mentioned was entitlement. So governmental approval process to how to take a piece of raw land farmland ag land, and turn it into an approved. Uh, development or I don't care if it's multifamily storage, single family, residential, retail, commercial. I don't care what it is. They all got to go through the entitlement process at the end of the day, whoever controls the dirt controls the deal. Let me say that again. Whoever controls the dirt controls the deal. So if you learn how to prospect off market raw land that has development potential, you're in control. There's a line around the building of people that want that deal and want to be a part of that deal with you. Either buy it from you or partner with you or whatever, if you can figure out how to create deal flow. You're in control.
[00:04:47] BILLY: I think that's key in any business. Anybody that I've interviewed that successful comes down to the. The first thing you have to push over is the deals. If you know how to market for all the first dollar, I couldn't think of the god damned word the first dollar you have to push over [00:05:00] is fund deal flow. And those that just depend on, on market properties, you'll lose the money or you're not making anywhere near what you could if you had a program. So take me through, I know my world, single family, small mixed use how I go about marketing. How do you go about marketing specifically for what you look for you have such a broad array. I mean, dirt is. What you can do with that? Dirt is tremendous. So how do you go about around the United States, figuring out what you're going to target, where you going to target
[00:05:27] CODY: yeah. So, I mean, there's a, I mean, it all starts one with I criteria, right? So what's the criteria you're looking for. So we opened our headquarters in Dallas, you know, middle of last year, and we're in the process of scaling across the country. So from Texas to Arizona, to Florida, to Tennessee, to my hometown up in the Pacific Northwest, I mean, You know, we're doing deals in Georgia, Alabama, all over the place. Right. And we're doing it on a big scale, right? So we have a whole team that cold calls. Right? I think we have five people that cold call me for the cold call now, full [00:06:00] time, but we're just, we're doing it the old school way. Like I don't have some magic bullet or silver bullet on what we do to prospect. Really what it is is we just do what no one else is willing to do. You know, like, yeah, it's called. Yeah. Right. Like, I mean, so here's what we do. We identify, we create a criteria of where it is, right. Where we want to go and, you know, the size property and different things, nothing too crazy. And then we go and we pull lists that, meet that criteria, and then we start hammering the phones. Right. And we're sending direct mail and. We're not, you know, we're dabbling a little bit in email and text and ringless voicemail. You gotta be careful in those areas. Um, but I mean, we've been doing cold calling and direct mail forever. Right. And it's just, there's nothing magical there where does doing what no one else is willing to do. And it's, we're, we're on it though. Our followup and our follow through is honest, where we set up alerts in our Sera, [00:07:00] CRM. We're constantly staying in front of these people. I mean, I can't tell you how many deals we've gotten over the years. Do you guys have been trying to buy my property for however many years, I've gotten this many mailings from you or this many phone calls from the reality is we figured we'd talked to you before we talked to anybody else. And so
[00:07:15] BILLY: the money is in the follow-up man, the money is in the follow-up. If you get a lead, even if you don't get it and you know, it fits your criteria hit it hit it hit it until they fucking tell you, stop, or we're going to call the police. And evenwhen they say that, continue to market to them.
[00:07:27] CODY: Yeah. Just keep filling the funnel. The reality is if you keep filling the funnel. Deep putting in the work you keep moving forward, you keep progressing. Eventually deals will come out the other side it's just
[00:07:38] BILLY: Cody, are you doing any type of like reverse type marketing where you have buyers that want a specific area, then you're going out and finding the land or you just like, like, tell me how you come up with your criteria. you are all over the united states. So, how do you determine Cody, the brain of this business? How do you determine where are you going to market to start driving in these deals? It's a huge playground.
[00:07:59] CODY: [00:08:00] So I'm less in the trenches on my business today. You know, I, we have people on the team. We have economical criteria, right? As far as, uh, markets that meet our business model. But if I was just to put it in layman terms, which would be more my terms, cause I'm just a dirt guy with a vision, you know, I'm a high school graduate and you know, we can get into, you know, I'm just a meat and potatoes guy. Right. I grew up in a small little town, but I mean the similar way I explained it is unless there's three publics in that market as far as three public, can we mainly focus single family, right? It's where there's more demand right now than ever. So our main focus is single family residential, unless there's three publics in that market or that are willing to go to that market. We're not interested. And so
[00:08:43] BILLY: What does that mean three publics?.
[00:08:44] CODY: Publicly traded companies. So like D R horton, Lennar, Pulte companies like that, large publicly traded single family home builders, unless three of them are, there are willing to go there and we're not going there. These guys are way smarter than us. And so, you know, if they're not there, we're [00:09:00] not interested in being there, but also here at gaining. I remember the scale of our company, we're doing large projects, right? So 500 lot projects, 300 lot projects. You know, we've looked at some thousand lot deals is that very few guys in town can even remotely. Um, look at a deal like that, take it down. But as far as the reverse engineering, I will tell you. So like right now we just hired a guy. He's had a business development now at our company, VP of business development and his main role in our business now is as we're going into these different states and different jurisdictions The big Metro areas are easy, right? So, you know, the, the top, you know, say 50 Metro areas in the country, those were easy.
[00:09:38] Everybody's there, but where it gets fun or where the money can really be made is out in the secondary markets or tertiary markets. And so we'll go talk to these publicly traded companies in the main Metro, and we'll say, Hey, what tertiary markets or secondary markets outside the main Metro, do you want to be. And they'll share that with us. And [00:10:00] so guess what, we go hunting in those markets and then we bring them deals. But we're also a company where we do our underwriting clear through all the way through vertical construction. So, because we're willing to do the vertical we've, we've done tons of it, right. And decades of it. So we underwrite all the way through building the vertical structure and selling, say a finished home. And so we underwrite clarity. You know, to finish lots of, we just want to do the horizontal development, put in all the infrastructure and sell finished lots or exited entitlements. And so we're in a position where when we go into a market, we'll take the deal all the way through finished houses if we have to. But the reality is with the demand, the way it is, not only are we not building the houses, we're not even putting in the horizontal land development, the, the infrastructure we're just exiting after we get political approvals, which is called entitlements. And that's just been the case the last several years, because the demand has been so high.
[00:10:55] BILLY: And so w how long has it been? Three, four years. We haven't really built anything.
[00:10:59] CODY: I built [00:11:00] one subdivision in, gosh, what was that? Maybe 19 better than that. The last five years I've sold everything at entitlements, because the amount of Mar you don't understand this, the amount of margin or profit that's left in the deal for me to go develop it and sell finished lots. There's not enough margin left in the deal for me to put up the capital or take on the debt needed in order to take, to do the development. That's where the risk reels really starts. Right? Because my average deal, remember my deals are bigger, but my average deal, I spent about 500 grand getting entitlements. But if I'm going to go in and develop it times that by 10, that now that's how much chapel I got to put up. And I'm about three X that in. Yeah, that's where the real risk starts. And so when we look at that additional capital and that additional risk versus the profit that's left, it makes no sense for us to do anything but entitle we're willing to develop it. But why? Right? These guys, here's the reality [00:12:00] guys that all they do is develop. Right. And that's it that hand in the cookie jar. Mark. My words, if the developer that hand is being squeezed out of the cookie. Okay. So in Maine main Metro markets throughout the country, we are the off-market prospecting guys, the entitlement guys, and it's going right from us to the home builder and the home builder now as well, and to develop the sun division, do the horizontal construction, the infrastructure, just to have the locks to build on because they got to feed their home building machine. Right. And so these guys, what they will take on that development risk for, or, or capital needed or them they're self-funded so that it's not third-party debt, but they're willing to do that for so little margin for a little guy like me relative to them. It makes no sense.
[00:12:48] BILLY: Yeah, the risk is, and that's what I said to you before we came on, we have a development project, small it's in long island, but when we get this thing entitled, we can probably sell the package off for four or $5 million and cash [00:13:00] out. It's going to take us $11 million to build it all the debt all the carrying. So often the back end for 22, after we pay out our partners, everything else, we might walk away with $6 million. So they get $4, six later after three years of developing, it makes no sense.
[00:13:16] CODY: That's exactly right. But you can understand if you know how to get through entitlements, you have bring huge value to endless endless investors out there, endless companies out there, because entitlements is a gift. entitlements is a process it's outside the box. You gotta be creative. You gotta understand how to play it. Politically, you know,
[00:13:37] BILLY: for the people that are listening. Fix and flippers with aspirations to get into doing what you're doing on either development for a single families or larger scale projects. Just give me a definition of what entitlements is cause they might not know
[00:13:49] CODY: so entitlements, the easiest way to explain entitlements is it's a governmental approval process. Okay. So if let's say you go find a [00:14:00] piece of raw land, remember what I've probably said at the beginning of this show? And if I didn't, I'll say it now, what we specialize in is prospecting or finding off market raw land that has development potential. Okay. The key word, the key thing that will a few things. One is often. And to his development potential because you know, there's guys out there that are teaching how to flip rural land and make a few bucks much like a household sailor. Right. And you look at the opportunity there. It's very limited because they're just, they're just flipping or wholesaling. Right. And it's a hamster wheel. I mean, to be Frank, it's a hamster wheel because you got to do so many deals to create any substantial income. Okay. We are in the value add business. So what I mean by that is we go find a piece of raw land and we take it through that governmental approval process. And I'm going to touch on this morning. We get it entitled. Entitlements is the approvals. Okay. Now, instead of me just having [00:15:00] a piece of farm land or ag land, I now have an approved development and the value of it as approved development is much more than it is as a piece of raw land. And so that's where the value add comes in because you gotta understand people often say, You know, this raw land, they think they can just go in and develop it, right? Because that's zoned for development. Zoning is great. You need zoning, but zoning alone does it doesn't do anything for you. It says that you still got to go through the process. Of doing studies, you know, studying the dirt, doing geo-tech and phase ones and, and, you know, doing all your boundary surveys and, and going, and you know, if there's existing structure to it that I'm not going to get in all the details. My point is you put together what's called a land use application. Okay. You submit that to the jurisdiction, they review what you want to do. Right. And then you go through a process and then they ultimately, most, most jurisdictions you have a hearing. Where they approve your development or deny [00:16:00] it. Okay. So once you get your, your development is approved now you got something special. And a lot of the big boys, they hate that entitlement process because you often have to get creative and get outside the box. To get the type of results you want. We often see ourselves as a chameleon. We know how to cause like these publics, they don't know how to speak a property owner's language. Okay. So we'll go in with a property owner. We'll figure out what their hot buttons are, what are important to them and we'll structure a deal around those hot buttons. Okay.
[00:16:31] BILLY: This is the property seller so you say
[00:16:33] CODY: property seller. Yeah. Which my clients can't do because oftentimes the things I'll do for these hot buttons my clients can't do my buyers. Okay. So now I'm speaking to the property owners language next I got to speak the jurisdiction's language to get the project approved. I need to figure out what their hot buttons are. I gotta be willing to fall on a sword of what's important to them so that they can please the public and please the vision of the jurisdiction. Even if it's not [00:17:00] lawful, even if it's outside their code, even if it's outside of land, use law. Sometimes I'll fall on a sword on something I'm not required to do just to please the jurisdiction or make the politicians look good in front of the public. And then I'll when another areas that aren't in the spotlight, but I got to know how to speak the jurisdiction's language. I got to figure out their hot buttons. I've got to figure out what's important. What we're talking about here is negotiation 1 0 1 and negotiate with the property owner. Now negotiate with the jurisdiction. Next I'm negotiating with my buyer, who I'm exiting to. What's important to them. What are their hot buttons? And at the end of the day, that's why we call ourselves a chameleon because we've got to adapt and be creative. And create win-win deals that work for all these different parties that have different hot buttons or things that are important to them. And that's where you'd bring tremendous, tremendous value to these deals.
[00:17:52] BILLY: I'm interested. That was a great answer by the way, Cody, um, I'm interested in how you doing. At scale [00:18:00] when in various jurisdictions, around the country, they all have their nuances and their processes and their good old boy networks that you have to get in with in order to get these approvals. So speak to the audience, even to me on how are you going about doing this at a national basis in working with those transitions to get everything through the process of entitlement to where it can, it can sell to an end developer.
[00:18:22] CODY: That's a really good question. Um, so my headquarters where the CEO is and the executive team and all of our, our whole team, our staff is in Dallas, Dallas, Texas. Okay. Which is a great place by the way, to have a headquarters, but we're doing deals out with customers across the country. So yes, we have our team and I don't even remember how many people are in our headquarters. Not a ton. I think. Don't hold me to this at all. I just say our team, our, our in-house team is 15 20 people. Okay. There's a fair amount of bandwidth there, but not enough to be doing deals all across the country and knowing how to please each jurisdiction. And we don't have boots on the ground everywhere. [00:19:00] Right. So where does headquarters in Dallas? We have no other offices, plus I'm virtual. I work from my casita in my backyard in Scottsdale, Arizona, but we hire the best consultants. Okay. We hire the best civil engineers. The reality is the civil engineers. They do the majority of the lifting to get entitlements, right. Or if you're doing multifamily or you're doing storage or retailer, And single-family, it's just a civil engineer and some of those other asset classes to get entitlements, you want to bring, you have a civil engineer and you have an architect. Okay. But I try to hire civil engineers and architects. We interview at least three in every jurisdiction we go into and those, and usually the three we enter we interview or we're referred to them. By the jurisdiction. Okay. Or by our clients. Okay. So that's how we create who we're going to interview. And so realize what I just did there. I just reverse engineered it in a way I'm hiring engineers that my clients love or that the jurisdiction loves. And so. [00:20:00] By me hiring the best engineers, the most competent engineers in town or architects one, they're my boots on the ground and that area of the country. Okay. And two, they know the jurisdiction, they know what's important to them. And so they're not on my staff, they're consultants, but I'm trying to hire the best consultants for that jurisdiction in each jurisdiction throughout the country that we're working in that's smart dude.
[00:20:27] BILLY: Very smart. When you, before you get to that point, because again, you don't have boots on the ground in these areas. How are you determining what the highest and best use is for that particular property and figure out, you know what, I know I can convert this into a 500 lot subdivision. First. I'm only going to get 300 lots out of it. Like how do you go through that? Not being in the area and having all the various codes that fit the area
[00:20:51] CODY: so, what could we do have the most of this stuff, you can get access to all the information you need online. All these jurisdictions have websites for the most part, plus all [00:21:00] of them have planners or planners on duties. And so part of my underwriting department is when we underwrite a deal is, you know, we're looking into the code, you know, so we're, we're searching online, we're running, we're, we're going and, you know, polling different mapping. And, but also we're in communication with the jurisdiction. We're calling up the planner on duty or whoever it may be. And so we're doing a lot of research and a lot of information gathered. As a part of our underwriting process, and we don't go into any of these deals blind before I ever send an LOI, which is a letter of intent for those that don't know what LOI is before we'll even even send a letter of intent that we're interested in buying something. We have done a, we've done a tremendous amount of underwriting to, we have a really good idea of what we have there. Remember if I have five basic things I talk about like on my Facebook page or on one of my websites, but there's five basic things. That if you want a piece to be developable, right? [00:22:00] One is what's at zoning. Okay. And it might just be zoned to ag currently agricultural, but there's an overlay in their concept plan where they want it to be res annexed and zone. Residential single family or multi-family or industrial, whatever. So one is zoning. Okay. Two is access. How do you get access to the development? You got to have access, right? Some pieces. You go look at her landlocked where there's no public right away to get to the piece. And so how do you access it? Right? Three is utilities are all the public utilities that are needed to develop it like sanitary, sewer, and water and things of that. Next is the topography of the land. Some pieces are a lot more expensive to develop than others, or because of the topography. They're not developable. They might be too steep or you might say, okay, there's sewer, sanitary, sewer, right in the street right next to the land. But the problem is the land slopes away from their public [00:23:00] right-away or away from the road. And so you can't gravity feed sewer from the land to the main trunk line so in some jurisdictions will lets you put in pumps where you can pump it up hill, but that's jurisdiction by jurisdiction. So the next is topography of the land. Third is all our fifth is overlaying. Okay, because as you get into the mapping that these jurisdictions, most of them will be able to provide you mapping resources for land that said within their jurisdiction is certain pieces. Guess what? They have wetland overlays on them, right. Or they have steep slope overlays on them, or they have, you know, whatever, there's all these flood plain. They have all these different overlays that are on them. That even though the piece looks amazing, You didn't realize there's this big overlay on it where you can't do much with it. So those are the five basic things that you need to take into consideration when it comes to raw land with development. potential
[00:23:50] BILLY: Huge Those are the five nuggets right there, dude. I appreciate that. Listens to the ' I mean, it's just stuff that guys in the single family space they don't get unless they're doing what you [00:24:00] do. So those, those were nuggets there. I want to get into, um, wanting to get into your training course. Cause you, I know you started doing this about two years ago. Cause you've got this thing. You master scientists, right? You got this thing figured out. What are you doing now with trading on this particular thing? The entitlement process.
[00:24:17] CODY: Yeah. I appreciate you asking that. So I've been doing this since oh two, right when I started my company and I'm at a point in my career. And I'm not wearing the shirt today. This shirt is LDP land deal paydays, but I have a shirt that says Piff on it, which has purpose impact fulfillment can I'm at a stage in my career.
[00:24:34] There's actually a book out there about it called halftime, where you get to a certain point in your career, and I'm really focused on purpose impact fulfillment. Really? What's my purpose. How can I have a positive impact, which leads to fulfillment and mark my words, we're all searching for. For fulfillment, even if we don't know it, we all talk about the word happiness. I didn't love the word. Happiness. Happiness is temporary. None of us are searching for happiness. We're all searching for [00:25:00] fulfillment. And I'll tell you this without impact fulfillment is not possible. So I'm at a point in my life where I'm really focused on Piff that's like my tagline. That's my cologne grant. Cardone's got 10 X. I got pissed. And guess what? I like Piff better than 10 X. So from that thinking I started Vestright. Um, V S T R I G H T. And that's my online education company where we are teaching exactly what we do and what we continue to do for Beetham. And so we have two main courses. We have one that's called land acquisition academy, where we teach you the prospect. We teach you how to evaluate, how to evaluate these deals, how to value them, how to underwrite them. We teach you how to entitle them and we teach you how to dispose of them or exit or sell them. Okay. That's called land acquisition academy. But, and we've been doing that course now for a couple of years and it's great. We have phenomenal testimonials and it's, it's just been beyond blessing. It's been very emotional for me at times. Cause, cause I'm having an impact. But as of lately, what we've been doing is we [00:26:00] kept having people saying, Hey. We don't really want to deal with going and finding the capital for entitlements or friend and family or, or whatever. And we don't really want to deal with the entitlements. We just want to prospect, we just want to tee deals up and I heard it enough times. Okay. Enough's enough. So we went and created another course where it's just, all it is, is about finding these deals. It's about creating deals. Because that's where tremendous value is to anybody. Whether you want to partner with me, or you want to partner with Billy, or do you want to partner with whoever? If you can find the deal with a ready, willing seller, you tee that up. You bring it to a guy like me or Billy okay. And we'll partner with you and we will cut you in on our payday. Okay. When we exit or if you want a small little quick fee, that's fine too, even though it's not how you build real wealth, but we'll give you a small, quick fee in the beginning as well. So we created another course called land prospecting, unleashed, and all we're teaching you is the prospecting portion of it. And then you just, you tee it [00:27:00] up and you bring the guys. So we have numerous students now that bring us deals and we capitalize them. We run the entitlements, we sell them and then we cut them in on our payday. So like I got a deal closing in March, for example, knock on wood. Thank the Lord. But it's closing in March, I'm selling it to one of the publics and the student that brought me the deal. I'm cutting that student a check for over $500,000 for me, right? Yeah. Think about how many flips you got to do to make 500 grand or how many houses you got to wholesale to make 500 grand? And the reality is he teed it up. I did all the other work. I capitalized it. And he's getting that check or if you want, I'm not going. And if it's all about Piff purpose, impact fulfillment, I'm not doing this just from my own deal flow. So go do land acquisition academy, learn how to do entitlements, learn how to exit, do it all on your own. And that's fine. And you can have the whole payday. I will tell you that. I can't remember the last time my payday was less than seven figures on a deal.
[00:27:58] BILLY: That's crazy [00:28:00] it's a different world how long on average, does it take you to go through? And I know each jurisdiction is different from getting that thing locked up on the contract, through to entitlements approved, where you can turn around and flip it.
[00:28:13] CODY: Great question for your audience. Um, it really does depend on jurisdiction area and the country state. I mean, the quickest is six months. The longest it's really takes is say 18. So we just, what we do, just tell you how we calculate. When we go to put together a deal, we just always figure 12 months on average. And so we'll put out that 500 grand. Remember my deals are bigger, right? You can go do it for a whole lot less than 500 grand. You can go do deals for 50 grand, but we figure we'll put out that money over the course of 12 months, and then we have our payday.
[00:28:45] BILLY: And are you basically looking at single family subdivisions? or you looking at everything
[00:28:51] CODY: so we've been really focused on single family, the majority of our career, just because we're very comfortable that everybody needs a roof over their head. We've done a little bit of [00:29:00] multifamily, but we're in the course of this year because off-market prospecting is the same, no matter what the asset class is. Right. So whether it's retail, what a matter. And then entitlements is, I'd say 90% the same, no matter what the asset class is. Yes. We, you know, single family's just been so hot. There's huge demand. They're huge on our supply. So there's just a ton of opportunity there, but because of the scale of our company and the size we're becoming. We starting in 22, we're going to start doing it and other asset classes as well. But I should tell you that the reason we're doing that is it's not to generate more ordinary income and, and bigger pay to it or more paydays it's because, you know, one thing I've never been good at in my career is creating cashflow or passive income, residual income. I've always just great generate a bunch of ordinary income. And for the first time in my career, I'm really focused on building my cashflow, my passive and guys. And I was like, how do I do that? Without getting outside of my lane, I have a specialty. What? I [00:30:00] know what I do, what I teach. It's a blue ocean opportunity. Very few guys are doing it. I don't know of any other buddy teaching it, but me. And if there is they've, they've never hit my radar, but how do I do what I do? Not get outside my lane, not go do value, add multifamily or storage, where I go buy existing facilities and figure out how to, way to grow the value. You know, no offense to anybody out there. But multifamily syndicators are becoming a dime a dozen much like household sellers there's one on almost every street corner, but the thing is, none of those guys know how to do what I do. The barrier of entry. It's. Well, one is, cause they probably have not in my course, but it's just, it's outside the norm. It's blue ocean. And so what we figured out to do is we want to start getting involved in storage, multifamily, industrial. And so we're going to go start teeing deals up much. Like we teach our students to. But then bringing in partners to be the operators and be the developer and do the construction of multifamily storage, industrial. And we're getting a piece of every deal for [00:31:00] teeing them up. And it's a way, cause these are deals that are going to hold. And so now I'm creating cashflow, passive Incode residual without doing anything outside the box and what I've done for 20 years.
[00:31:09] BILLY: Smart dude it's extremely smart. What you're doing? How old are you?
[00:31:13] CODY: I am 43
[00:31:14] BILLY: yeah, you're right there. And you're trying, bro, like ripping it. Making shit happen It should happen. Go back just real quick. Just tell you audience on the two courses that you have, what are the modules? You don't have to go in detail, but what's the modules and then what's the cost factor for
[00:31:27] CODY: yeah. Yeah. So, um, I'd be lying if I told you I knew all the modules, cause my team organized all that. Like land acquisition academy is five grand. I mean,
[00:31:39] BILLY: online videos they go through.
[00:31:40] CODY: Yeah, it's an eight week course. There's online videos. There's homework. It's a membership log in a portal. It's five grand. I mean, dude, I just talked about how large our paydays are like, so what happens is five grand is nothing relative to the opportunity. And that's exciting for us, right? If I could charge a [00:32:00] million dollars for the course I would, the problem is no one would buy it. And so that's five grand. And then the other course, which is land prospecting, unleashed, it's about three weeks of content, but you go through it at your own pace, right? So you can go through it as quick as you want. And that course is two grand. Um, and just give me an example. I just mentioned a moment ago. I have a student that, you know, Lord willing when the deal closes in March, I'm gonna cut a student, a check for over 500 grand for teeing deal up for us,
[00:32:25] BILLY: real good bro. You doing good? You've giving us some good value in this. Honestly, it is especially. Probably about a year ago, maybe two years ago, when I started getting into these larger deals are like, shit, I have to start learning how to do this. I'm a student I learned. And then. I look online for specifically how to do land titles. And it was like MIT courses or some real world how to do this. Nobody. So you have a nice niche in this market where I'm sure you're gonna fucking crush it, bro.
[00:32:55] CODY: Thanks man. Yeah. It's um, you know, we've done well, we're thankful. And um, but [00:33:00] it's just the flood gates are opening right now in 22 for us. And you know, someone said to me the other day, one of my buddies he's like Cody, the first 20 years of your career was just practice or warm uo right. And so, um, we're very thankful and, um, but it, man, it's just so much fun teaching this stuff, you know, because fulfillment is really where it's at. Like, you know, I can go make 2 million, 4 million, 5 million on a deal and that's awesome. Like, don't get me wrong. It's awesome. But it doesn't bring fulfillment. It doesn't, money's just a tool. And so, but when I'm changing people's lives through my course, right through my education, like that's that Special
[00:33:37] BILLY: it empowered you man. it's a good feel listen we're going to have something special to give away our guests, we're going to put it on the website. Billy secrets.com. We'll get your link. We'll put it on there, let them do their thing. And I'm, I'm excited. I'm actually probably going to be investing in your course.
[00:33:53] CODY: Sounds good
[00:33:54] BILLY: because I want to, I want to learn how to expedite this process, this whole thing we would do when these last two [00:34:00] deals. Just it absolutely amazing. If I can learn a couple of secrets just to streamline this process, I'm rolling.
[00:34:05] CODY: Dude it's well worth itI have numerous, numerous students that are been real estate investors for years. That reach out to us and just thank us up and down, right? Like just one of the village feeling, get one little nugget it's worth it. Right. So, you know, and the other thing too is, and if you don't want to go do it and I'm not trying to pitch you here, I'm just telling you, we also have allied land fund where people can invest in our model. Right. And so we have a fund that you can invest in and we just give you an idea. We pay a 20 pref and w why, why Cody has crazy 20 pref, 20% preferred return? Well, uh, you know, cause most guys are doing six, 8% preferred returns and it's just because the margins are there in our deals. Right. And so, but the reality is my split is 90 10 though. I take 90% of the split after the 20% pref, which is a much higher split leaning my way than most funds. And guys are like Cody. That's crazy. How are you ever going to pull that off? Well, the way I'm going to pull it off is that my pref is [00:35:00] better than your overall return of your whole fund. And so these guys are doing a six, 8% preferred return. Their overall return on the fund is 17% 15, 18. Well, just my pref outperforms their fund. So my split. Is kind of irrelevant at that point. And so we're trying to hit a target return of 24 to 29% for our fund here. Again, I'm not trying to pitch y'all actually, our fund is fully subscribed that fully subscribed in three and a half hours. Um, we did a live webinar within three and a half hours. It was fully subscribed, but we're going to launch another fund in March or April. So,
[00:35:32] BILLY: exciting dude, it's exciting. I'm looking forward to watching you grow bro
[00:35:36] CODY: thanks, man. I appreciate it.
[00:35:38] BILLY: Appreciate you coming on the show, Cody you are full of energy. Ton of knowledge, and I'm sure my listeners has got a lot out of it. If they want to find you or your business, what do they do?
[00:35:47] CODY: Yeah, we're kind of growing our social media following, but a good place to go where I'm posting content numerous times a week is just go to Facebook and it's just at Cody Bujagan C O D Y BJ UGAN [00:36:00] uh, name on the screen, just go to Facebook and just check out my free content. Right. And we'll just go from there
[00:36:06] BILLY: Awesome brother good. Having you a good meeting ya and, um, I'll talk to you right after the show
[00:36:10] CODY: thanks Billy
[00:36:11] BILLY: Thanks bro
[00:36:13] Thank you so much for listening to today's episode of unstoppable real estate investing wealth. My mission is to give you my listeners, the blueprint for success inside the secrets for starting growing and scaling. Real estate investing business, So you could experience and live unstoppable lifestyle. I've made it simple for you to catapult yourself to success. Go to Billys secrets dot com@thebillyssecrets.com. There you will find every single tool. Trick strategy system. And you used to make millions of dollars as real estate. Everything my team uses and my guest views all in one place for you to [00:36:00] tap into, you could start, grow and scale the real estate investment business. I really [00:37:00] hope you implement what you're learning. I hope you utilize these tools, tips, tricks, strategies, and secrets, and I hope to see you on the next episode god bless. Bye-bye.