My daily routine ($100m developer)

Brief Summary

This YouTube video documents a busy day in the life of Eric Crutchfield, a real estate developer. He discusses ongoing construction projects, a personal setback involving theft, meetings with potential fund investors and students, and provides updates on his various real estate ventures. The video also includes insights into the timeline for new construction homes and a tour of a current project.

  • Eric is working on building lots on McMillan, with one already under contract.
  • He experienced a theft of his laptop but is thankful for his safety.
  • Eric aims to raise a $50-100 million fund to expand his real estate projects in Miami and Dallas.
  • He mentors new students, guiding them through real estate development.
  • Eric provides a tour of a construction project, highlighting unique design elements.

Intro

Eric Crutchfield starts the day with numerous tasks, including finalizing building lots on McMillan, servicing his McLaren 720, and checking on various construction projects. He has a meeting with a fund manager at 12 PM and a CPA call at 1:30 PM. Additionally, he needs to select tile cabinets and ensure all projects are progressing as planned. He mentions filming another video on Thursday, focusing on high-end homes in Highland Park and obtaining permits, which he anticipates receiving in less than two weeks.

Unexpected Setback and Business Goals

Eric recounts a chaotic morning where his laptop was stolen from his driver's van. He tracked the laptop, which led him back to his house where he found his cameras were down. He believes divine intervention led him to return home, possibly preventing a worse situation. Despite the loss of the laptop and Louis Vuitton bag, he is grateful everyone is safe. He is on his way to a meeting to discuss raising his own fund, aiming for $50 to $100 million, to expand his real estate projects in Miami and Dallas, as he wants to leverage other people's money instead of his own.

Mentorship Program Discussion

Eric engages in a detailed discussion with a potential student about joining his mentorship program. The conversation covers the student's background, financial situation, and real estate experience. The student shares his past experience with an Airbnb property in Dallas, which he sold after being banned from the platform. Eric explores the student's liquid reserves, credit score, and openness to business funding. They discuss the possibility of obtaining business funding to increase the student's capital for real estate ventures, potentially reaching around $200,000 to $225,000 for a better lot. Eric offers the support of his team and connections in Dallas to facilitate the projects. The next steps include completing a credit questionnaire to explore business funding options and deciding whether to proceed with the program using the available capital or wait for additional funding.

Roadmap Call with a New Student

Eric conducts a roadmap call with another new student, assessing his situation and goals. The student, who is local to Dallas, expresses his need for funding due to recent personal setbacks, including a divorce. Eric assures him that they will find a way to make the program work. They discuss the student's lack of real estate experience but strong credit score. Eric suggests that they can leverage the student's credit score to obtain business funding, which can then be used with a hard money lender for his first development deal. Eric shares that his platform was created last year and expresses his excitement to work with students from all backgrounds.

Project Site Visit and Design Details

Eric visits one of his construction projects, where he checks in with the electrician, roofer, and other workers. He notes that the floors have been delivered and the exterior painting is underway in preparation for gutter installation. Eric highlights the organic modern design, which brings stone elements from the outside to the inside. He points out unique features such as a pass-through window from the kitchen to the pool area, a reframed fireplace with a floating cap design, and a French drain system to manage water drainage around the property.

Interior Features and Construction Timeline

Eric continues the tour, showcasing a dry sauna installed at the request of a potential buyer. He envisions the adjacent space as a flexible exercise or gym area. He also mentions the addition of a steam shower downstairs, providing both steam room and dry sauna options in the house. Eric emphasizes the importance of offering unique features to differentiate Crutchfield Customs from other builders. He then discusses the timeline for new construction homes, noting that it varies based on complexity and price point. Affordable homes can take 3-5 months, mid-range homes 6-7 months, and $2 million homes 7-9 months. More complex, high-end homes can take up to 18-24 months.

Wrap-up and Call to Action

Eric reflects on a productive day with successful calls to new and current students, including securing $350,000 in funding for one student. He welcomes the new students and anticipates sharing their testimonials soon. He provides updates on his personal projects, including grading work and floor deliveries. Despite the setback of having his bag and laptop stolen, he remains positive and grateful that no one was hurt. Eric encourages viewers interested in real estate development to schedule a call with him or his team, emphasizing that he can help regardless of their financial situation or experience. He announces that new videos will be released twice a week and urges viewers to subscribe and hit the notification bell to stay updated.

Summarize any YouTube video in seconds

Get summaries like this one for any video, in your language, with the free Summ app.

Download on the Apple Store
Get it on Google Play

Transcript

Full transcript of “My daily routine ($100m developer)”. Click a timestamp to open the video at that moment. Need another video? Use the YouTube transcript generator.

0:00 [Music] Hey guys, welcome back to another YouTube. Today we are going to be we're going to be doing a lot of things, man. You know, I'm building those lots over on McMillan. They're coming to an end. We got one under contract. Working to get the other one under contract right now. I need to pick up my car, the McLaren 720, take it to get a service done, and then uh we're going to go check on some projects. We got a busy busy day. I got a meeting with a fund manager at 12. Got a CPA call at 1:30. And uh yeah, then we got to go back and pick out some tile cabinets and make sure all these projects are on track. And then Thursday, I'll be filming another one of these and we'll be doing the whole

0:47 Highland Park, the really big homes, getting all those situated and getting my permits. So hopefully I should have those permits in less than two weeks. It's been a struggle getting all these engineered plans, but we're making progress and that's all that matters. I'm excited to show y'all. Let's go. [Music]

1:42 something. [Music] [Applause] [Music] Heat. Heat. All

2:27 [Applause] right, guys. We are running a little bit behind today. had a wild adventurous morning. We just dropped the car off over here at Motech. They're going to sponsor the Senna and give me a crazy ass loud exhaust. I figure, hey, let me bring the 720 in, get a service done, meet him, and uh maybe get exhaust on the 720. We'll see what he says. Maybe get down pipes and a tune. I don't know. We'll see. But yeah. Um, well, I guess when my driver was getting gas in the van here, some people opened up the door and snatched my bag, my Louis Vuitton bag

3:14 with my laptop in it. Thank goodness it only had my laptop in it, nothing else. So, I look up my phone and it says track track my track my uh laptop. So, I start find my laptop. So, I start tracking it and then I start following it. I'm getting close to it and then my alarm at my house starts going off. So then I'm like, "Shit." So then I check my cameras and all my cameras are down. So I'm like, "Holy fuck." So I stop following the laptop and I go to my house, make sure my dogs are all right, make sure my house is all right and everything. Get to my house, everything's fine. I don't know what happened, but what I do know is I think God was intervening.

4:00 shut my electricity off, shut my cameras down, and made me turn around and go to my house. And so maybe something crazy would have happened. Maybe I got shot. Maybe I would have hurt somebody. I don't know what would have happened. But hey, we're going to call Apple Care. 300 bucks, get a new laptop. We lost the Louis Vuitton bag. No big deal. We got a bunch of them. So So yeah, thank you, Lord. Everybody's safe. Everybody's sound. And now we're running to our meeting. 12:28. We got about a 20-m minute drive, so we're running a little late, but hey, everybody's safe. We don't got a laptop, but we'll have one by the time this YouTube's over with. So, yeah, super adventurous, man. Just ready to get back to work, hit this meeting, talk to the fun guy about

4:47 raising my own fund. It's kind of the next goal for me. Next big goal on my list is raising my own personal fund so that I can take over Miami and take over Dallas, man, and just build some big ass houses. So that's the goal cuz I only got so much money and I'm tired of using my own money for all my projects. So I'd like to help others make money. Need to raise about a $50 million fund, maybe a hundred. And yeah, that's the goal. So we're on the way. I'll keep you updated on how that goes. And then after that, we got the CPA call. And after that, we're going to check out all the projects. Stay tuned. I'm hoping the day gets better. Do they got any bills going down as they are now? Um, yeah, I think a couple of them do right now. So,

5:36 I'll share those res Yeah. Yes. I'll share the resources with you and maybe put y'all in a group chat inside the Slack. I wonder if it's my service. I think it might be. Yeah, turn your turn your video off maybe. Yeah, let's try that. I turn I turned my Wi-Fi off also. Okay, I think we're good now. Okay, sounds good. All right, so uh yeah, I'll share um I'll share their names and numbers and everybody with you in the Slack channel or put y'all in a group chat in there. Yeah. So y'all can share resources and stuff as well. What's funny is I actually used to live

6:21 in Dallas. Oh, really? Yeah. I bought my first house in Dallas back in 2022 and I actually sold it a couple months ago. Oh, damn. See, you just moved recently. No, I moved back So, it was an Airbnb for a while. So, I I bought the house in 2022 and then I lived there for like 8 months. Um, and then I ended up moving back to Arizona in 2022. Oh, okay. And then I Airbnbed that house for the two years and then I got banned on Airbnb for some [ __ ] So then I was like, it's a sign to sell this house. Yeah. Cool. Yeah. But the same I bought the house in a gentrification area. It was a brand new woman, you know. Did you make some money? Same thing.

7:07 No, no, no. I didn't make money on the house. Yeah. I uh I basically Okay. All right. So, we're going to be building there in Arizona. Second question is, how much money are we starting with? So, right now for like liquid reserves, I mean, I got about 100,000. I know I can also apply for some business funding as well. Yep. Do you What's your credit score? My credit score right now is like 700 something. Perfect. Um, do you want business funding? Yeah. Okay. be open to it. We'll we'll uh put the credit team in there and schedule a call with them and then you can discuss. So, I'll have Pa or ask Pedro on the Slack channel to send you

7:52 the credit questionnaire. Yeah. And whenever you fill that out, it goes direct to the credit team and then they'll reach out to you. Okay. So, credit Okay, great. Yeah. So, credit questionnaire. Yep. And then last question. Go ahead. Yeah, go ahead. Oh, I was just saying that I had I also have another guy that's in like the business funding space that I was talking to for a little bit as well. So, we can look into both options obviously. Perfect. That makes the most sense. And then last question is real estate experience. Yeah. So, for real estate experience, I mean, for actual building, I mean, when I like six years ago, I helped like a fix and flip like I I like hung some like drywall and like, you know, fix up a property a little bit. Just worked for a guy making like 10 bucks an hour. I mean, I'm not too old. I'm 24. So, this

8:38 was back when I was like 17, but I have like a little bit of experience. I mean, I I had an Airbnb. I bought in two houses, but from actually like constructing a whole house, I don't have a lot of experience like in person. I've been researching, watching videos, trying to like, you know, learn more. Yeah. About the process. But, yeah. No, that's fine. I'm just thinking from a land lending perspective. So, you do have an Airbnb and a couple other houses that you said you bought and sold. So, that might look good. So I sold so that was so that so that Airbnb in Dallas I just closed like last month. So I sold that and then I just have a personal residence in Arizona that I own. Okay. All right. That's good to know. Um, so

9:24 basically next steps are we need to fill out the credit questionnaire, talk to the credit team, and then from there, let me know if you want to continue on to get more business funding or if you want to go ahead and start the program with the 100K, and we can start underwriting some deals there close to you and see what kind of ROIs we can get. Yeah, for sure. And I'm open that, too. I mean, I go out to Dallas sometimes, too. I know that's your marketing and then you do a lot out there too. Yeah, we could start here as well. If you're going to start here, I would suggest definitely get some more business funding and maybe get up to around 200 grand, maybe 225 and then we could really get you a great lot. Well, that's what I Well, I mean, I'm open to whatever. I know that's your market, right? You know, that's what you're good at is out there. Have all the connections already. Uh, obviously, I

10:09 want to be out there, you know, on site more and checking stuff out, you know, those process goes, right? Uh, so I'm also open to that as well. Okay. kind of explore like obviously you know you're my mentor at the end of so I want to yeah if you want to do it here definitely a lot less footwork because like you said I have all the contractors to give you I have everybody you can you can use my whole team here um so that's totally up to you yeah I'd be I'd be open to it uh I I guess like like you know would I be wanting to come out there at least like once a month to like like two times a month to like check things out yeah probably at first and then once Once you get the drywall, you can probably hang back for a month or two, and then once the finishes come into play, then come back and make sure all the finishes are up to

10:55 par locations and all that good stuff. Yeah. Yeah. Would you uh And I talked with your boy uh what is his name? Landon a little bit. Yep. Yeah. Yeah, he's good. Yeah, he is. He was doing a flip out in San Antonio. Uh he's building a home in Austin. Oh, Austin. Yeah. So, yep, he knows the stuff. So, that's that's cool. So, basically, the next steps from here are the questionnaire for the credit. I would go ahead and get the business funding, see go ahead and start that. See if we can get you some more money and then um plan B. If we do get you more money, then we can underwrite deals there in Arizona and also in Dallas. See what kind of has the highest ROI and then make our decision there. you know,

11:40 obviously if something happens for some reason they don't get you any money, then we'll just go ahead and start the program with the cash that you have on hand and we could we could do the same thing as well. So, yeah, for sure. And then we would just be using one of your hard money lenders cuz when I was on the call, they were talking about how I need to have 40% down on Yeah, it's going to be roughly around that. So, if we find a $200,000 lot, it's going to be, you know, around like 80K or something. Yeah. And what I told the when I was talking I think to Sam on the call I was saying hey I mean if we're gonna you know all efforts the same right like you said right you 100% on a small project or 100% big it's the same thing the time frames are about the same so I was thinking hey you know if we're going to we're going to do this we might as well go for a million dollar house. Yeah. Plus you have me and like I said if

12:26 you're doing it here in Dallas then that's all I build. So those are what my contractors will be building or used to building. Yeah. I'm I I'm I'm super open to that. You know, whatever is going to be, you know, the least barrier of entry to get my foot in the door right process. That's what I'm looking for. You know what I mean? Yep. I love it. Make it easiest on us. All right. So, let's do business funding. As soon as we complete that program, we'll start hunting for the land, man. And then uh get you something good. All right, let's run it. So, all I need to do now is just message in the chat about the credit team. That's all I got. Yep. Yep. and they'll send you the questionnaire and then fill the questionnaire out and it goes directly to the credit team and then you'll get uh they'll reach out to you. All right. Okay. Really appreciate your Yes, sir. All right. Good to meet you and uh looking forward to working with you soon. All right. Bye.

13:16 [Music] Welcome to the program. I kind of know that you kind of know the situation, man. I'm kind of coming in with not a whole lot. I'm kind of my back's against the wall, but you know what's kind of led me to you is for one, you're in my backyard. You're here in Dallas. You know, that's kind of where you're based. So, I'm right here in the Dallas area kind of off uh just north of the airport in Valley Ranch. I don't know if you kind of familiar with the Copel area. Matter of fact, you you go to the gym

14:02 over there. Yeah, I used to live in Copel. Yeah. Yeah. So, uh that was one thing, but two, just you know, I went through divorce obviously. If I had done this, man, 8 months ago, a year ago, I I could say that I I'd have some capital of of 150, 200 plus to be able to put in, but where my back's up against the wall right now where I don't have a lot of much anything but myself and a strong work ethic, I obviously need to to fund and if you if you can do it, I knowbody can. We'll figure it out, man. Uh I got good program, so we got a lot of different options. Um, we're going to help you out. We're going to walk you through it all. Okay. I'm not going to lie to you and come in and say I have a lot of knowledge in it. I don't, but I'm a fast

14:47 learner and uh, that's kind of why I'm a mentee and you're a mentor. Perfect. Well, this is the roadmap call. So, it's pretty easy. I just need five questions answered and that's it, man. And um, we'll get we'll get started on the program for you. First question is where are we going to be developing? Which I'm guessing is Dallas. So, that's good. Number two is how much how much money are we starting with? Well, like I said, coming in I let's just let's just put it at zero case. Number three is credit score. My credit score is above 700. It fluctuates. It just depends. I recently, like I said, I can check it 715 and the next day, two days later, 87 to 22. Okay, perfect. Um, next question is

15:35 you're going to want business funding, correct? Correct. So, we can get you a down payment. All right. And then last question will be real estate experience. Zero. All righty. Construction experience, rental, section 8, anything. Anything to do with real estate? Nothing. Perfect. Well, you're in the right spot. So, we're going to get you back on your feet here soon. You got a good credit score. So, um, sounds like we should be able to get you some business funding pretty easily and then with that business funding, we'll leverage that with a hard money lender and get you your first development deal. Okay. Um, how about Delta kind of started this platform like with you, you know, educating and mentoring people. It looks like this platform was just created last year. Yeah, exactly. Our

16:21 first student was like last July, I think. So, it's been been almost a year here in about 2 months. So, 10. Well, like I said, I hope it's a great experience. Like I said, I'm coming in with with not a lot. I'm sure y'all haven't got I deal with people from every level. You know, a year ago, I could come in and say I'd be more like an investor. I'd put two 300,000, leverage that and and and just help my money, make me money, have some passive income, but it just didn't work out that way. And and I think God planned it that way for a reason, you know. So, I'm kind of coming from the bottom. And um just hearing your story, well, you know, nobody can have it any harder than that and still be able to come out and do what you did is is definitely an inspiration. Yeah, I appreciate that. And uh yeah, everything happens for a reason. So,

17:07 uh we just got to, you know, keep moving forward, doing the best that we can. Everything will work itself out, guys. We just got off the phone. Couple students, getting them locked and loaded. some good students, some new students, and then a older student just got 350,000 in business funding. So, we're about to hit the streets hard. Looking for a lot for him in a really good neighborhood here in Dallas. But I just arrived at my projects. Got to check in with the electrician, the roofer, the floors got delivered. A lot of moving parts. The paint is going on now because we're getting gutters on Thursday. So, we have two days to paint the exterior. It's not much, just the fascia sopet. So, it should take them a couple days, but um yeah, man. This thing's cruising, so I'm ready. Let's go

17:53 check it out. [Music] staircase came out badass. We got all the stone up here. We're bringing the stone from the outside to the inside in this home. I love it. They call it

18:39 organic modern if y'all don't know. Really popular trend right now. We did it in our wine area as well. We're going to have big glass double doors here. We put blocking up there for the wine racks and then also the glass. And then uh we got the kitchen. This is a pass through window so you can pass drinks out. It opens up and we can pass. This is going to be cabinets and a countertop. It's going to extend out as well. Look really cool. So you can be making drinks, passing them out. We're building a pool. So we put the earthy material here as well. Got the stone. Looks [ __ ] great. My stone guy is kicking ass. And then uh we're reframing this. It's going to come out like this and look like a cap on top of the fireplace

19:25 here. Looks like it's going to be a floating cap. So pretty cool design, man. I like to do unique things. A lot of these other builders aren't doing unique things. That's what keeps Crutchfield Customs different. And that's why I want to stay. I want to stay different. I don't want to be like you shitty builders out there. But yeah, check it out, man. We got it all graded down, getting ready. Oh, we got all rocks. If you notice all this rocks, that is for our French drain system. It's a perforated pipe. It goes all the way around so the water can drain in. Boom. Go all the way out to the street. If you see these little pipes sticking up, that's going to be for our gutter system. Down s downpipe. uh our uh down spouts going into those and it's going to connect exactly into that and flush the water all the way

20:11 out. So, our pool will be beautiful and flat. Going to have to put a retaining wall up there cuz the elevation's about 2T difference. Little small one here, but yeah, looking good. We got a badass fireplace in here. We're going to make a little ledge here. Just going to make it look like a mantle. Maybe put some cedar beams there that matches the top. It's going to look really nice. I like it. We're doing our French drain system over here all around the foundation. It's about to run all the way out.

21:00 As you can see, they haven't drilled the holes in it yet, but they're going to drill a bunch of holes in it, and make it perforated. Hey, done. Yes. Okay. We got Hyman keeping everything under control over here. How's it going? Huh? What's it doing over here? Reading up on the fireplace. Yeah. Let's go check the sun out. Huh? Where should we put all this trash in the garage?

21:46 Did all the floors get delivered? Oh, you did it. Okay. [Music] Voila. There's your sauna. This is going to be a dry sauna. Have a little dry sauna right there. It looks like a bunch of rocks. It's going to be super hot. Get in there and sweat your tail off. And then I picture this as like just an exercise gym room. Flex space.

22:33 Whatever they want to do. We might put some mirrors on the walls. Basically just storage. Huge closet here. Huge closet there. I don't know. Whatever they want to do. But we had an interested buyer in this one. So they asked for a dry sauna. So, I went ahead and did a dry sauna, but they haven't put a contract on it yet. But either way, it's nice. They also have a steam shower downstairs. So, they have a steam room and a dry sauna in this house. So, yeah, that's what we do. We're always doing something different. We got to keep it different. Give them extra. And then in this room here, they got a little nook here for a teenager or somebody to do their computer work.

23:20 added feature. I love it. The tile hasn't been delivered yet, but it should get delivered today and tomorrow. Yeah. Looking good, man. Looking good. [Music] Heat. Heat. [Music]

24:08 much. Yes. And you see that one [Music] size there. That's it. Yeah. I need to tie the delivery. All right.

24:54 [Applause] How long does it take to build a new construction home from start to finish? As you can see here right behind me, this home is going to sell for $2 million. So, all price points are different. affordable home you can build 3 months to 5 months. $500 to $ 1.5 million homes is going to take you around 6 to 7 months. $2 million homes are going to be about 7 to n months to build these things. If you're if it's your only house and you're moving super fast, maybe 6 to 7

25:39 months, but 7 to 9 months and it goes up the more complex it gets, right? The more engineering you have, all that good stuff, it can push up to 18, 24 months to build 5, 10, 20 million homes. So that is how long it takes to build a new construction home. [Music]

26:53 Guys, long work day. Just finishing up, man. We had a lot of good calls today. A lot of new students, a lot of current students. Got one guy $350,000 in funding, man. We're ready to take off. We're going to be looking in Dallas, Texas for him. So, I'm excited. We're going to get a big ass deal done for him. First time home builder. Also, um, welcome all the new students, man. I talked to a bunch of you today. I'm excited to work with each and every one of you. So, be on the lookout for a lot of new testimonials. Not to mention my own personal projects moving and grooving. We got grading done. We got floors delivered. We got a lot of good [ __ ] We dropped off the 720. It might be getting louder exhaust. I need to call him, but it definitely is getting a service. So that's good. They stole my bag, stole my

27:39 laptop. That sucks. But hey, all good things, man. Outweigh the one bad thing. Nobody got hurt. That's all that matters. Probably going to head over to Apple, but I have my group call tonight. So probably go to Apple in the morning, so I'll be uh without a laptop tonight. No big deal cuz I have a desktop. So yeah, man. Still haven't worked out. Pretty hungry. Probably grab a bite to eat and go hit the gym. and back at it tomorrow. I love it. So, appreciate y'all watching, man. If any of y'all want to become a real estate developer, please do not forget to tap below and schedule a call with me or my team and we'll get you into real estate development. I don't care if you don't have any money. I don't care what your excuse is. I'm going to get you in it.

28:26 I'm going to get you business funding. We're going to get you money for the down. We're going to make it happen cuz that's what we do. So, schedule a call below and tap in with us. In the meantime, we'll be dropping another YouTube this week. We're dropping about two a week. So, hit the subscribe button, hit the bell so it notifies you each and every time so you can learn this real estate development [ __ ] cuz you're going to need it. I changed my life and it can change yours, too. But yeah, until the next one, I'll see y'all.

Share

More video summaries