Rich sits down with Jay Roberts, CEO of Prosper Group, who's managing over $3 billion in active real estate developments out of Miami — and breaks down exactly how luxury waterfront condo development actually works, from land acquisition to sellout.
They get into why billionaires and tech giants are fleeing California for South Florida, how Jay underwrites a $345 million development to hit a 30% profit margin, the pre-sale deposit structure that lets developers use buyer cash to fund construction, and why waterfront real estate is the one asset class that never stops appreciating. If you want to understand how the big money in real estate actually moves, this one's for you. Let's get into it.
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