Expert Developer Walks Through a $32M 84-unit Project with Justin Goodin | 030

In this episode of the Accredited Investors Only podcast, I sit down with Justin Goodin, a multifamily developer based in Indianapolis who has carved his own path from humble beginnings to leading large-scale development projects. We talk about his early start in real estate, how he transitioned from value-add multifamily investing to ground-up development, and the strategies that helped him scale—without a family legacy in the industry.Justin opens up about the real challenges and rewards of development, how he underwrites deals, and what it really takes to bring an $84 million mixed-use project to life. If you’re curious about the development process, investor expectations, or how to build credibility and momentum as a young developer, this conversation offers a ton of value.Episode Timeline Highlights[0:00] - Reflections on Easter, faith, and the power of seasonal renewal[3:00] - Introducing Justin Goodin: from Indianapolis roots to real estate developer[4:48] - Justin’s first rental property and early investing challenges[6:04] - Breaking out of the 20% down cycle and discovering multifamily[6:27] - From underwriter to investor: how working at a bank shaped his vision[8:38] - Balancing college, National Guard, and real estate investing[9:33] - Justin’s first syndication: a 29-unit deal that became 33[10:02] - What makes development different from traditional investing[11:43] - Why Justin pivoted to development after a year of deal fatigue[13:04] - The competitive edge of building from scratch—and the risk[14:11] - How mentorship helped Justin break into development[15:49] - Walking through a current $32M, 84-unit project in Fishers, Indiana[17:55] - Acquiring the land, rezoning, and making the pitch to the city[20:06] - The importance of pro-development municipalities[22:10] - Understanding tenant demographics for Class-A properties[24:49] - Why his underwriting background gives him a strategic advantage[26:01] - How development underwriting differs from value-add[27:31] - Investor expectations in development vs. stabilized assets[29:32] - A laser-focused vision for the future: only Class-A, only Indiana[30:53] - How to connect with Justin and learn more about his projects5 Key TakeawaysStart Small, Think Big – Justin began with a $44K rental property but always had his sights set on scaling into larger projects.Underwriting Experience Matters – His time as a bank underwriter gave him a sharp eye for deal quality and risk assessment.Development Has a Higher Barrier to Entry – Breaking into the space required a mentor, persistence, and a willingness to play the long game.Investors Need Patience in Development – Unlike value-add projects, development deals typically offer no cash flow until stabilization.Location Is Everything – Justin prioritizes only the best locations within Indiana to maximize tenant demand and project viability.Links & ResourcesFree 7-Day Email Course on Passive Investing: getindevlopment.com/courseConnect with Justin on LinkedIn: Justin GoodinEnjoyed the episode? Make sure to rate, follow, and review the podcast. It helps us grow and continue bringing you high-level conversations with top investors and developers. Thanks for listening!