Burnett Development

01/11/2026

Actually….
This is how it was done…

It took ALOT more than that $10k loan…. It’s called relationships, the ability to service carrying cost,the access to find the deal, the time to look through many deals, a “willing” seller (Back then certain folks didnt sell to other certain folks b/c property”can” mean freedom & independence-but more deadly= competition) o wereVERY,VERY relaxed loan underwriting, VERY attractive capital costs, & community support…..

Oh and lasltly he had to have family/community/connections that had the resource’s to loan (or authority to approve him) for the 10k… But I’ll let y’all tell it.

It’s called a “John” deal 😉

The moral - Don’t compare yourself to someone that won in a completely different era of lending regulation & that was also among a community that possesed vast social lending connectivity…

It’s still rigged- but once you understand that, you can stop operating like it’s a meritocracy- America is a hustle, to find the right folks that are willing to be “creative” - for the right people & price (focus on the latter)

07/06/2025

The importance of legacy….

When you’re born & raised in the “community” of the real estate development business…
Your “last name” garners way more more support than any us newbies could ever beg for.

First and foremost , capital and “equity” 😉 is never an “if” - It’s already waiting and/or it’s just an introduction away…

( JMT has been around since the 60’s- it goes w/o saying that commercial lending wasn’t extended from a meritocracy perspective to everyone then. The eldest execs are/were on all the right boards; even some banks; that probably doesnt hurt your chances of being approved)

There’s a built-in network
(the players know you/your family,no searching needed) is waiting for you: (Look at what Travis is born into)
A network of…..

☑️private investors & banking contacts
☑️family resources that enable you to be “buy & hold”
☑️engineers
☑️attorneys
☑️contractors
☑️brokers
☑️consultants

PSA- they don’t share anything above- if you aren’t in the circle-
Remember this , the next time you’re interested in development. This is what you’re up against. Yet please do not compare yourself against this if you’re starting from ground zero. The names in the development/aquisition headlines were wheeling and dealing decades before you were born. Lastly understand that they also acquired their empires in a MUCH different lending, permitting, economic environment. There was now Fico in the 60s/70’s when these empires were started. There were meetings over coffee at the bank presidents/ board members house/country club- and the deal was approved. THAT was the underwriting process; “social underwriting”. This is something folks like me will never be able to compete with.
Don’t give up; but knowing this lets you know who to start building relationships with in middle/high school- and WHERE to start; because it starts this early…

Yes I’m bitter, this lending & credit environment is absolutely a scam & if you’re not connected you’re relgated to surviving. So basically, don’t focus on property, focus on being a financier… you’ll be in the right rooms, where the only color that matters is green..atork

05/31/2025

The Falls Lake area is home to several million-dollar home communities. And more are on the way following a big land deal.

12/22/2024

A Bankrate study showed that 40% of non-homeowners say they can’t save up for a downpayment…

As we head into the New Year, it’s important to hear some sage wisdom from a parent who with her spouse, perhaps did it the slow way- but the “sure” way. My experience in residential renovations has been/is 👎🏽, but commercial, better, less headaches.

However, it’s a blessing to still be standing “in” it.

Listen to these refreshing tips- there’s an authenticity (and great cabinetry) that resonates in my opinion…

11/18/2024

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11/08/2024

Don’t learn the hard way…. Pay for the damn survey.

11/05/2024

Calling all mall business owners!

Own where you do business!

It’s your opportunity to be our best our neighbor & get in on the Rocky Mount market!

130 SW Main St, Rocky Mount, NC 27804. This Retail property is available for sale. Historic Almond's Drug Store Building For Sale in Downtown R

09/27/2024

How to vet a potential property purchase - with street smarts.
Trust no one - especially not the city.

09/19/2024

THIS
Revitalize, or Die.

09/03/2024

Clear and simple..

09/01/2024

If I had to do this over I would have called an open house to interview GCs.

BEWARE:

What you “think” you’re saving in purchasing your own materials and spending hours at the Habitat Re-Store..

You are blowing in ☑️time, ☑️mental capacity, ☑️recovering from anxiety ☑️organization and ☑️revenue generating activity.

Example: because I was consumed with trying to restore the windows and find general contractors that were cheap. It never occurred to me to sit down with 3 to 4 general contractors to ask them : ”how would you tackle this?”

It took me 9 months to arrive at replacement windows- 🤦🏽‍♂️🤦🏽‍♂️
I just was so busy bouncing from problem/activity that I didn’t allow myself time to ask - where can I source affordable, consistent materials. Especially when my motto is:

-Encapsulating (walls, windows, roofs, doors to keep it secure and dry)
-Demolition (clean out trash to prevent degradation )
-Maintenance (exterior enhancement to keep code enforcement off your back)

before you do any rehab

I think God has tested (testing is ongoing) me through this because he wanted me to know that since our cost basis was so low, he wanted me to pay on the backend over a long period of time & remember the lessons of team building, recruitment, business development, delegation- and most importantly- securing a private investor.

Our PI is earning 14% on his $100k commitment. He’s also protecting

08/12/2024

Welcome to the neighborhood, neighbor

Dukes Prop

A century-old building that previously housed a bottling plant in Rocky Mount is getting new life as apartments and retail space.