The Real Reason Development Still Works with Justin Goodin

On this week’s episode, Kent is joined by Justin Goodin. Justin breaks down how he’s still getting ground-up multifamily and mixed-use deals done in a market where most development has slowed, including how public-private partnerships can bridge the “cost vs. value at ribbon cutting” gap. They dig into real risk mitigation in development—GMP contracts, lower leverage, stronger contingencies, and active on-site management—plus what passive investors should look for when vetting a sponsor. Justin also shares why he’s optimistic about apartment fundamentals heading into the projected 2027+ supply drop, while flagging how AI-driven employment shifts could impact certain markets.Where to find Justin:Website: https://goodindevelopment.com/LinkedIn: Justin GoodinFacebook: Justin GoodinFree resource: 7-day passive real estate investing 1-on-1 email course (via https://goodindevelopment.com/)Key TakeawaysDevelopment can still pencil in today’s environment by partnering with municipalities through incentives like TIFs, grants, and forgivable loans to close the feasibility gap.Conservative underwriting matters more than ever, including 5–10% contingencies and no assumed rent growth during construction.Risk mitigation is an ongoing process: GMP contracts, strong GC and design teams, frequent site visits, and tight budget oversight reduce surprises.Public-private partnership deals can carry lower leverage than many investors expect, with loan-to-cost ratios closer to the mid-50% range.Passive investors should vet sponsors beyond marketing materials by checking references, third-party review platforms, and basic background checks.Check us out on socials: InstagramLinkedInYoutubehttps://hudsoninvesting.com/Production by Outlier Audio