First Steps

April 14, 2022

Video Transcript

The house that you can build. Okay, so inside you have an extra 10 ft Of opening. Right? So you have an opening for the open concept. It's a big difference if it's available, that's why we can fight for your price point becomes $300,000. It's a big deal. Big difference. It's a big difference. And then obviously the grounds are big, it just makes a big but this is the standard size. So when we're going for something we're looking for valuation and we already know what we can put here. We know we already have the house, we already we already have on the houses selling. How long does it take the town to approve your to approve plans and then approved building permits that whole process. I will say three months by the time that you get the closing prepared paperwork, submit the town hall, by the time that you break ground with the demolition in between you have three, three months. Got it. And usually once you guys close in your approval like the first what's the first group I guess with the planning board. Like I know in Jersey city you have to deal with em you a for utilities first. That's the first thing developers have to do when you guys, once you acquire the property and you're going through approvals with with the plans. Plans get approved. What's the first step prior to getting building permits for you guys? Are you dealing with utilities like basically knocking sewer lines out here? All of these have sewer and water. We don't have to do anything. Remember we are demo existing houses to rebuild. Right. It's not that it's an empty lot or something like that. We demo a small single house to put a huge, the biggest that we can fit in the lot. Do you ever get problems with neighbors as developers? All the time. That's the day by day. I was expecting on Tuesday. Have the police on Marguerite (street), we have two cranes and like 12 trucks. Everybody show up at the same time. We got New Jersey natural gas, we have Atlantic City electric, everyone decide to show up. The plumber company show with six trucks or like five trucks. That's what we mean about the relationships we've established. When we call and say we need it done, they send you the whole crew. For example Ed Johnson, our plumbing contractor, I say "Ed I need to meet that date inspection." And he send everybody there

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