Real Estate Development Mistakes That Cost Investors Money with Jose Rosich

Jose Rosich (00:00)
In real estate development and in construction, mistakes are paid always in money first. You know?

Quentin (00:05)
Mm, mm,

yes sir.

Jose Rosich (00:08)
And the mistakes start with your attitude. if you make the wrong call and people don’t like you, it’s gonna cost you later. People are gonna take longer to do something. They’re gonna charge you more. They’re gonna be not very indisposed with you.

Quentin (01:58)
Hello everyone. Welcome to the Real Estate Pros podcast. I am your host Q Edmonds and I’m excited to be here today. I have another fantastic guest and I’m trying to pick his brain, you know, talking to him a little bit. And one thing he wants you to know, what is so important in this industry is knowledge, knowledge, knowledge. Yes. Be real. Yes. You know, this gentleman, runs operations, he knows systems.

but it’s also about the knowledge that you have and you obtain. And so I’m so excited for us to get to talk to Mr. Jose Rosich Mr. Jose, how you doing today,

Jose Rosich (02:37)
Hi, hi, how you doing, Quentin?

Quentin (02:38)
Oh man, doing good, doing good. And listen, I’m excited to have you here. And so I’m the type, I like to dive right in, right? So I would love for you to tell the people, what’s your main focus these days? If you don’t mind, give them a little bit of an origin story, kind of how you got into the space that you’re in, and then tell them where you are in the world. So what you’re up to, your origin story, and where you are. Mr. Jose, you have the floor, sir.

Jose Rosich (03:03)
Well, we’re up to right now finishing four high-end homes here in the Tampa Bay area. We’re about to start a five-story building. We’re new in the area. I come from a construction background, you know. That’s how I got into real estate development by doing bigger and bigger builds. Then I got into meeting the necessary people like architects, engineers, landowners, et cetera, et cetera.

And through a connection, I moved here, a of mine moved here, I I’m going to do some developments, you want to come in? Yeah, sure. ⁓ We started, we extended the arm of the company, which is an Argentinian based company here in the US, which is a con study, a studio con. ⁓ And we started small here.

because it was a new area, we wanted to get the lay of the land first, not get into anything big, because there’s always a lot of nuances, there’s always a lot of nuances. And they always come up where you least expect them. Like Florida has a rainy season which starts right now, and it starts with a bang, and it also has a very…

Quentin (04:08)
Yeah

Mmm.

Jose Rosich (04:26)
complicated process of inspections, let’s say that. You know, that’s one of my pet peeves here, right? So when you’re building a bigger project, we do it through private inspections to make it faster. When we’re doing a housing project, you know, we have to do it with the city, which is slower, you know what I’m saying? And right now we’re doing one here in Clearwater.

Quentin (04:29)
Yeah, yeah, yes sir.

Yeah.

Jose Rosich (04:54)
which we have an inspec… this is a small anecdote. We have an inspector that he’s saying that we’re starting to do framing and we didn’t do framing. We did the shoring for the ceilings of the house. And he says he’s framing. We’re saying it’s shoring and we’re going to win the case. You know, it’s just the little things that you’re going to find that, you know, you have to have a… if you want to be in a business that you need patience.

Quentin (05:16)
Yeah.

Jose Rosich (05:24)
This is it. This is it. You need to be level-headed, be patient, you know, because you’re gonna deal with a lot of stuff that you’re gonna have to be very level-headed on this business.

Quentin (05:24)
Mmm.

Yeah, yeah. I love it. Thank you, sir. I mean, thank you for taking us through the journey, taking us to where you are now, even some of the things you just talked about being level-headed. And I love it. You started just a new building not that long ago. And now you got different construction that you’re doing. And you yourself, and so you finished four homes. That’s what it is. You finished four homes, started a new building. But you yourself, come from a construction background.

And I love how you said you’re wanting to get the quick lay of the land before you kind of jumped in, because there’s always new processes that you need to learn. And so I love it. And so I want to ask you this. On your journey from construction to now, you know, finishing new homes, the different position that you’re in, what has the journey taught you about yourself? Like has the journey taught you about discipline, resilience? Like what has the journey taught you about you?

Jose Rosich (06:52)
Yeah.

Exactly.

Oh man, it has definitely gotten me out of the comfort zone in every level, you know? Because in my position, I kind of like babysit everyone. I have to deal with the architect, I have to deal with the contractor, I have to deal with the owners, I have to deal with emotions. And it has, you know what it has taught me really, really, really?

Quentin (07:25)
Yeah. Yeah.

Gotcha.

Jose Rosich (07:44)
how to handle people really well. Because people respond to how you handle them. And if you come with the right attitude, and it’s on the first couple of seconds or minutes that you’re talking, if you come with the right attitude from the beginning, it changes everything. You ⁓ just cannot come up to people and just…

Quentin (07:46)
Yeah

Yeah.

Yeah. Yeah. Yes, sir.

Jose Rosich (08:06)
talk or do whatever you’re gonna do. I would go into a situation that is not favorable, something is not done on a project, it’s not where I want it to be. And I don’t start making decisions or talking before I get the full story. You know what I’m saying? Like the other day, the project was running really slow, so I started making calls and I found out that our contractor, his mother,

Quentin (08:22)
Yeah, yes sir.

Jose Rosich (08:33)
who lives overseas had to get an operation and he flew out of there, you know, in an emergency. So in another occasion, I would have started yapping and you know what’s happening here and this and that and the other and the whole environment changes, you know, and people don’t do well.

Quentin (08:39)
you

Jose Rosich (08:51)
In real estate development and in construction, mistakes are paid always in money first. You know?

Quentin (08:57)
Mm, mm,

yes sir.

Jose Rosich (09:00)
And the mistakes start with your attitude. if you make the wrong call and people don’t like you, it’s gonna cost you later. People are gonna take longer to do something. They’re gonna charge you more. They’re gonna be not very indisposed with you.

That’s the first thing. The most valuable things amongst the many things that I’ve learned, whether you’re gonna be doing a build or you’re gonna be doing a development.

Quentin (09:27)
Yeah, yeah,

yeah, man. I love your philosophy. There’s a saying that people may not remember what you said, but they remember how you made them feel. And so when you talk about, yeah, people liking you, knowing people can trust you because you know how they say. People want to do business with who they know, like, and trust. And so, yeah, man, I hear it. I love that approach. Let me ask you this.

Jose Rosich (09:37)
Totally.

Quentin (09:53)
How does adversity show up in what you do and how do you handle it when it comes up?

Jose Rosich (10:32)
man. Adversity almost always shows up unforeseen. It doesn’t get it doesn’t come with a sign here. I’m It just comes. You can count on that. You know, it’s it’s it’s it’s. How how do we handle it when when it comes? Well, I come back again to.

Quentin (10:37)
Yeah.

Yeah, yeah, that’s good. Yeah, yeah, yes sir.

Jose Rosich (10:55)
patience, you know, and take it as a learning lesson, you know, ⁓ say you’re doing instead of a building, you’re doing a when you’re a houses or you’re doing something and you find like on the place that you bought on the land.

Quentin (11:00)
Yeah. Yes, Yeah.

Jose Rosich (11:16)
there’s something wrong with the geographical survey and then you need to fix it and it’s gonna cost you money and then your house is gonna take longer, it’s gonna be more expensive, you know what I’m saying? So, I mean, take it as a lesson, because it’s inevitable. If it’s gonna be something with the land, with the architect, with the city, it always comes. Expect adversity to come. If there’s no adversity coming, you’re doing something wrong.

Quentin (11:26)
Yes, sir.

Jose Rosich (11:43)
You you’re sitting at your house doing nothing. You know?

Quentin (11:46)
Yeah,

yeah. So well said, sir. So well said. Expect adversity to come. And I’m glad you answered that question because you’re absolutely right. And I want people to understand, no matter how long you’ve been doing this, short you’ve been doing it, adversity will find you. And like you said, it’s not going to come with a sign. It’s just going come and interrupt everything. So yeah. asked you. Yes, sir.

Jose Rosich (12:08)
Right. Another thing, if I might add to that, right, ⁓

you want to have people around you that can cover all the bases that you’re not covering. For when adversity comes, you want to have people around you that, if when it hits you, they can come up with ideas. Hey, let’s let’s do this. Hey, what about that? You know what I’m saying? In our case, ⁓ if you’re building it.

Quentin (12:28)
Yeah. Yeah. Yeah.

Jose Rosich (12:35)
It’s very important your team is very, very, very, very important who you have. If you’re a contractor, it’s very important that it’s a person that is honest, that it’s, that he’s knowledgeable and that he’s not gonna mess you up. Because a person that has a track of doing things bad, there’s no matter, doesn’t matter how much, how slick you are, watching your back, they always gonna catch you. You know, if the person,

Quentin (12:49)
Yeah.

Yeah.

Jose Rosich (13:04)
does that to everybody, they always gonna get you. If it’s an honest person and knows what they’re doing, you wanna have people that cover the bases for you and watch your back. That’s one of the most important things, you know?

Quentin (13:17)
Yes, sir. Yes, sir. No, so you kind of take me to a question that I ask everybody when they come on the pod. I would love to hear your perspective when it comes to the word relationship. When you hear the word relationship, what comes to mind to you, Jose?

Jose Rosich (13:32)
I look for people that are not gonna…

do any damage to me or the company. That’s the first. I look for people that have a track of not doing things like that on the past. used to, I had an uncle, very knowledgeable, who told me, judge people by the trail of crap they leave behind. How dirty or how clean it is. That’s the first thing I look. Then I look for their knowledge, and then I look for their patience, and take your time knowing people.

Quentin (13:54)
Yeah. Yeah.

Jose Rosich (14:05)
Every time, you know, when you meet people, they’re always showing their best face. You know, and you only know it when they’re… You only know that a person is not a clean person until you invite him to your house and he uses the bathroom.

Quentin (14:09)
Yeah.

Yeah, yeah,

yeah. ⁓

Jose Rosich (14:24)
Right. So

you got to go through the process and know the person. Like I was telling Lucas, the owner of the company, you know, a guy was starting a job for us, you know, and he was falling in love with the contractor and saying never fall in love with the contractor until they prove themselves time and time again. Because that’s the only way you’ll know, you know.

Quentin (14:43)
Mm. Mm.

Yeah.

Yes, sir. Yes, So well said, So what’s next for you, sir? What’s next for the business? What are you looking to solve with Scale Next?

Jose Rosich (15:36)
Well, ideally, we would like to move into other parts, do partnerships, know, move to other parts of Florida, move to other states, but that has to be through partnerships, you know, ⁓ be able to whether it’s homes or buildings. I mean, we’re good. That would be the idea to spread the risk.

to other places, you know, because sometimes you can have some other, places that some states that are doing really well. And this one is kind of like dimming down and then it changes. Right now Miami is on fire, you know? And San Petersburg is kind of like starting to light up. ⁓ But I’ve seen Miami be on fire and, you know, shut off.

many times, know, so we already know that we’re looking for to spread the risk on different places, different states. In our case, we incorporated, we had a really good contractor and we incorporated him as part of the company into our team, right? So he’s now like a partner, you know? That’s a really good position to be, you know? And I just talked to him, hey, listen, I’m thinking of doing this.

Quentin (16:41)
Yeah.

Jose Rosich (16:56)
If I do this, are you in? He said, yeah. You know, that means if we have to work in Texas, Oklahoma, New York, yeah. It’s game, you know. Just in part is to spread the risk and in part is I’ve worked on other states before and it’s fun. So I like it, you know, but the main thing I would do for the people that are doing just ⁓

Quentin (17:06)
Yeah.

Mm-hmm.

Jose Rosich (17:24)
a build for themselves, right? I would, and they’re just doing a home or doing their first things, take your, as much time as you need to find a good contractor. You know, that’s the first thing.

Quentin (17:39)
Yeah.

Yeah. Yeah. I love it, man. I love the way you think, Mr. Jose, is there any topic that I have not brought up that you would like to talk about? Is there any other words like inspiration, education, motivation? Like, I don’t know. Maybe you came in with a thought on your mind that you want to make sure our viewers know. I kind of just want to open up the floor so you can land that message.

Jose Rosich (18:01)
Yeah.

Well, I would say it’s more like when you’re take your time when you’re getting into something and look for the lay of the land, you know, I talk to neighbors a lot. I talk to neighbors a lot, whether it’s buying a house or looking for a land, you know, the firsthand experience talking to people who let you know how the environment is doing.

You’re developing a place. Whether you’re buying a house or you’re making a big building, you talk to a neighbor, you take your time, hey, this is what I’m doing, blah, blah, blah. We just have a friendly talk. And then he tells you that they have a lot of theft around. You didn’t know that. That’s definitely gonna affect you if you’re building a home to develop or you’re making a building to develop. So talk to people.

around the land when you’re buying, you know, get the people that you have with you are gonna make a really, really, really big difference, you know, on what they’re doing and expect, be ready for problems as a learning lesson, you know, because otherwise you get hit with the first problem and you just blow out of your head like,

Quentin (19:13)
Yeah.

Jose Rosich (19:21)
But if you’re ready, like if you’re boxing, you know you’re gonna get hit. But if you’re just standing and someone punches you, it’s a shock.

Quentin (19:26)
Okay, yeah.

Yeah, yes sir. So

well said. So well said. Well, listen, sir, if someone wanted to reach out to you, connect with you, collaborate with you, learn more about what you’re doing, how can they get in contact with you,

Jose Rosich (19:46)
Okay, they can contact me at 727-301-2805 or my name jose.rosich @gmail.com. We’re always looking for partners, always looking for deals, always looking to buy land, know, collaborate in any way. We’re very friendly. yeah, it’s either.

727-301-2805 or [email protected]

Quentin (20:17)
Love it, love it. Well, listen, let me say three things to you, sir. First, thank you for your time, right? You could have been doing anything else in the world, but you were here with us. So thank you for your time. I think time is our most precious commodity. So thank you for that. Secondly, thank you for your story, for your narrative. Thank you for your gift of your authenticity, gift of your transparency. I really appreciate you sharing because they plant seeds, our stories plant seeds, and we may never know when it’s going to grow.

Jose Rosich (20:42)
Yes.

Quentin (20:44)
But the seed is there. And so you came and you planted seeds that can literally course correct somebody’s life. So thank you for that. And lastly, thank you for your mindset. Thank you for the way you think and bringing that mindset to this platform. I appreciate you coming on, Absolutely. Well, listen, y’all heard Mr. Jose. Look into the show notes. His information is in the show notes. Get in contact with him. But definitely make sure you’re subscribed here because we’re going to continue to bring up amazing people just like Mr. Jose. So sir, I say thank you again.

Jose Rosich (20:57)
Thank you, Quentin

Quentin (21:13)
and everyone else. Y’all have a fantastic day.

Jose Rosich (21:13)
Thanks.