Thinking of Developing Real Estate? Don't Do it Until You Hear These "74 Minutes" | Austin Schmidt E369

The Rich Somers Report

Thinking about ground-up development? This episode might save you years—and millions.

In this one, Rich sits down with Austin Schmidt, a real estate developer who’s lived through the chaos, wins, and war stories of building multifamily from scratch. From fighting the city to getting permits approved to making deals penciled after rising interest rates, Austin lays out the full, unfiltered blueprint for anyone who wants to get into development and actually win.

They cover:

• Why most developers quit after their first deal (and how to survive it)
• What makes a city “developer-friendly” (and the red flags to watch for)
• How to raise capital for your first ground-up project
• The difference between theoretical spreadsheets and real-world construction delays
• Why Austin still bets on development—and where he’s building next

If you’re even thinking about going vertical, this is the 67 minutes you need.

Let’s get into it.

Connect with Austin on Instagram: @luxbuilders

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