The Best Ever CRE Show Best of 2025 Replay: Land Development Strategy, Builder Demand, and Exit Options ft. Brandon Cobb
Dec 23, 2025
Brandon Cobb, Managing Partner of HBG Capital and a specialist in affordable housing, dives into the intricate world of land development. He discusses how value is crafted before any homes are built, emphasizing his team's strategic partnerships with national homebuilders. Listeners learn about the nuances of entitlements, land banking, and the vital due diligence required for successful deals. He shares cautionary tales about engineering mistakes and highlights the strong demand for entry-level housing amidst market fluctuations.
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From Fired Rep To Land Developer
- Brandon got fired from his medical device sales job and used savings to start flipping houses, which launched his real estate career.
- A national builder unexpectedly offered to buy one of his developments and that pivoted him into land development.
Value Is Created Horizontally
- Developers create value before vertical construction by entitling and preparing land for builders.
- Entitlement and infrastructure work force-appreciates raw land significantly before homes are built.
Leverage Builder Deposits As Free Capital
- Use national builders' deposits to lower capital needs and secure pre-sales before borrowing.
- Negotiate builder deposits and deed-of-trust security to reduce investor equity and improve loan metrics.