A commercial real estate development course · a section of chriskotscha.com

Turn ground into gain.
One whole table at a time.

Learn from ground to occupancy — the fundamentals, the acquisition, the due diligence, the build (industrial and multifamily), occupancy, taxes, and the three decisions every owner faces. Then prove it in a Developer's Adventure where your money is on the line.
✓ 70 lessons · 10 heat checks · 8 adventures + capstone
Start the Adventure → The Capstone → Go through the Lessons
Lessons
70 / 70
Heat Checks
10 / 10
XP earned
0
Streak
Loading your progress…
The developer's sequenceFive phases, five acts
The whole course is one developer's arc. Each act of the Adventure teaches one phase — and each is built on the same shared engine so your money carries from finish to start.
01
Money + Project
Source capital, size the deal, set the terms.
Act 0 · The Raise
02
Find / Secure Land
Option, diligence, title, close.
Act 1 · The Meridian
03
Design + DP
Massing, form, the Development Permit.
Act 3 · The Massing
04
BP + Build
Permit, contract, draws, safety, quality.
Act 4 · The Build
05
Close Out + Occupancy
Presales, settlements, handover, defects.
Act 2 · Strata at Meridian
Page twoThe Developer's Adventure
Choose your own adventure — no wrong answers, only consequences. A load-bearing scorecard makes the whole table visible. Play the chain in order — plus the industrial, multifamily & exit deep-dives.
Act 0 · play first

The Raise

Money & the project

You have zero dollars. The $10M doesn't exist until you source it.

committed · retained · confidence
Act 1 · play second

The Meridian

Land → build → exit

The fast-forward arc: control the land through a full build and exit.

equity · loan · timeline · health
Act 3 · play third

The Massing

Design & the Development Permit

One drawing moves the pro forma, the panel, the neighbors and the lenders at once.

density · review · value · time
Act 4 · play fourth

The Build

BP + construction

The loan only pays for work the lender will stand behind.

cost · schedule · safety · quality
Act 5 · play fifth

Strata at Meridian

Close out + occupancy · the model flip

Rent is recurring; strata is one lump sale per unit.

presales · settlements · deposit · risk
Deep-dive · industrial

The Rust Belt Box

Industrial, the long way

Acquire a contaminated brownfield, spec it right, build it, fill it. A deeper industrial journey.

equity · loan · timeline · healthbrownfieldspec
Deep-dive · multifamily

The Podium Play

Multifamily, the volume way

Massing, unit mix, the concrete podium, lease-up, management and the exit. Multifamily, end to end.

equity · loan · timeline · healthpodiumlease-up
Deep-dive · taxes / exit

The 1031 Exit

The art of the tax-free flip

Run the qualified intermediary, the 45-day identification, boot, leverage and the 180-day clock — or pay the tax.

gain moving · debt · clock · health1031exit
Capstone · the whole table

The Whole Table

Run it end-to-end

Run the entire lifecycle against a live pro forma — raise, entitle, build, fill, exit — and earn your return multiple.

live pro formareturn ×
The curriculumBatches · lessons · heat checks
70 lessons across ten batches — all live. Lessons run on the shared engine; each batch ends in a 🔥 Heat Check. This is the complete course — click through any batch below.
00Fundamentals7 lessons · 🔥 1live
0.1Commercial vs. Residential🔍 spot the trap
0.2The Development Lifecycle🎯 make the call
0.3The Four Boards🧭 whole table
0.4Valuation: NOI & Cap Rate🧮 run the number
0.5Time Value & IRR🧮 run the number
0.7The Pro Forma🧮 build it
01Market & Site Analysis8 lessons · 🔥 1live
1.1Strategic Analysis Framework🧭 whole table
1.2Market & Competitive Analysis🧮 run the number
1.3Location & Site Analysis🔍 spot the trap
1.4Political & Legal Context🎯 make the call
1.6Underwriting a Market🧮 run the number
1.7Demand & Feasibility Studies🔍 spot the trap
02Acquiring the Land7 lessons · 🔥 1live
2.1Types of Acquisition🎯 make the call
2.2Zoning 101🔍 spot the trap
2.3The Option🎯 make the call
2.4The Purchase Agreement🔍 spot the trap
2.5Title & the Closing🔍 spot the trap
2.6Environmental🎯 make the call
2.7Acquisition Financing🧮 run the number
03Due Diligence Across All Stages7 lessons · 🔥 1live
3.1The DD Mindset🧭 whole table
3.2Legal & Land-Use DD🔍 spot the trap
3.3Physical DD🔍 spot the trap
3.4Financial & Title DD🧮 run the number
3.5Construction DD🧮 run the number
3.6Lease-up & Exit DD🔄 flip it
3.7The DD Gate Checklist🔍 spot the trap
04Entitlements & the Political Board6 lessons · 🔥 1live
4.1By-Right vs. Discretionary🎯 make the call
4.2The Approval Ladder🔍 spot the trap
4.3Site Plan & Design Review🎯 make the call
4.4Impact Fees & Exactions🧮 run the number
4.6The Political Game🧭 whole table
05Building Industrial7 lessons · 🔥 1live
5.1Industrial Typologies🧭 whole table
5.2The Money Specs🔍 spot the trap
5.3Site & Civil Specs🔍 spot the trap
5.5The Industrial Build🧮 run the number
5.6The Industrial Pro Forma🧮 run the number
5.7Spec the Industrial Deal🎯 make the call
06Building Multifamily & the Differences8 lessons · 🔥 1live
6.1Multifamily Typologies🧭 whole table
6.2Unit Economics🧮 run the number
6.3The Multifamily Build🔍 spot the trap
6.4Occupancy & Lease-up🎯 make the call
6.5Industrial vs. Multifamily🧭 whole table
6.7Property Management🔄 flip it
6.8Pick the Right Model🎯 make the call
07Occupancy, Leasing & the User Side7 lessons · 🔥 1live
7.1Occupancy🧮 run the number
7.2Leasing Fundamentals🧮 run the number
7.3Lease Structures🔍 spot the trap
7.4The User Side🔄 flip it
7.6Vacancy & Turnover🧮 run the number
7.7Value-Add Income🧮 run the number
08Taxes, the Capital Stack & the Three Decisions8 lessons · 🔥 1live
8.1Property Taxes🧮 run the number
8.2Income & Entity Taxation🔍 spot the trap
8.3Depreciation & Cost Segregation🧮 run the number
8.4The Capital Stack🧭 whole table
8.5Structuring & the SPV🎯 make the call
8.6Decision 1: Refinance🧮 run the number
8.7Decision 2: Capital Improvement🎯 make the call
8.8Decision 3: Disposition🎯 make the call
09Negotiation & Ethics5 lessons · 🔥 1live
9.1Interest-Based Negotiation🎯 make the call
9.2The High/Low Game🔍 spot the trap
9.4Ethics & Fiduciary Duty🧭 whole table
9.5The Human Board Scenario🎯 make the call

🎓 The Capstone — The Whole Table

Run the entire lifecycle against a live pro forma and earn your return multiple. The final challenge and the real capstone of the course.

Play the Capstone →
0 · The Raise 1 · The Meridian 3 · The Massing 4 · The Build 2 · Strata 🎓 Capstone
The Build · grounds to gain, one whole table at a time.
A section of chriskotscha.com