LGI Homes, Lennar, D.R. Horton: US Building Material Supplier Relationships
Former Executive VP of Strategic Accounts at Builders FirstSource
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LGI Homes, Lennar, D.R. Horton: US Building Material Supplier Relationships(August 8, 2024)
Former Executive VP of Strategic Accounts at Builders FirstSource
Interview Transcript
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Another thing I've heard, for what it's worth, is that those costs you're talking about often make the difference between a good land deal and a bad land deal. How thorough was your diligence process to estimate all those different costs before making the land deal? Before you buy, you can tell in five minutes the acreage you're buying and what it's used for, and how many homes you can build. That part is easy. But getting approval to connect to the town sewers and things like that are the challenging aspects.
I was in a meeting with a senior executive from a large national builder several years ago. He made a statement that we all kind of knew, but it was profound. He said, if we cut a good land deal, we're almost guaranteed to make money. Conversely, if we make a bad land deal, we're almost guaranteed to lose money.
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