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In this episode of The Land Development Podcast, host Ryan Glick welcomes Jeff Corbett, Executive Vice President at First Continental, a private lender specializing in non-recourse land acquisition and development financing. Jeff shares his perspective on how the lending landscape has shifted over the past few years and what developers need to consider in today’s market.
Jeff explains the key differences between non-recourse loans and traditional bank lending. He highlights how non-recourse loans remove personal guarantees, thereby limiting a developer’s downside risk. This approach encourages a partnership mindset between the lender and the borrower, aiming for mutual success rather than strict enforcement.
The discussion then turns to how market events—like the COVID-19 pandemic and bank closures—have affected the availability of development financing. Jeff notes that while traditional banks have pulled back, First Continental has seen increased opportunities and continues to support both private homebuilders and independent developers, especially in mid-sized residential projects.
Finally, Jeff offers practical advice for both seasoned and new developers. He emphasizes the importance of clear communication with lenders and strong partnerships with homebuilders. He also discusses what First Continental looks for in a deal, including meaningful financial commitment from both developers and builders, and how aligning all parties involved is crucial to a project’s success.
In this industry news episode, Ryan Glick and Charles Covey discuss shifting market dynamics, new housing legislation in Texas, and the state of commercial lending.
Lance Lambert of ResiClub joins both Ryan and Charles on the show to explain what’s happening in the housing market, from rising inventory to how builders are adjusting to current trends. We also explore the impact of institutional ownership and the future of build-to-rent communities.
In this week’s Week In Review episode, Ryan breaks down the US-China tariff pause, slowing home prices, a new tax proposal that could change investor strategies, and shifting trends in land buying and lot supply.