172: Real Estate Market Selection with Victor Menasce
Get Rich Education
Keith Weinhold
4.8 • 612 Ratings
🗓️ 27 June 2018
⏱️ 41 minutes
🧾️ Download transcript
Summary
#172: Your market choice is more important than your property choice.
One of the most prominent real estate developers in the United States, Victor Menasce, tells us how he selects a real estate market.
Investing in larger metro areas is generally safer than investing in smaller metro areas because geographies are better diversified.
Being invested in only one investment market is a mistake. You're undiversified.
Should you pay more or less than the construction cost of a property?
Victor tells us the difference between price and value, and why that matters to you.
Four factors drive price/value: 1) Construction cost. 2) Availability of money. 3) Inflation. 4) Supply and Demand.
Victor is an expert at selecting markets, developing, and raising capital for deals.
If you're developing or making a large real estate investment, think about how consulting Victor could be a great investment. Connect with him at VictorJM.com.
I join you from north Florida today because I'm out looking at, yes, real estate markets!
Want more wealth?
1) Grab my free E-book and Newsletter at: GetRichEducation.com/Book
2) Actionable turnkey real estate investing opportunity: GREturnkey.com
3) Read my new, best-selling paperback: getbook.at/7moneymyths
Listen to this week's show and learn:
01:45 Investing in only one geographic market is a mistake.
02:30 Recency bias.
08:00 Investors should start with economics and the market, not the property.
11:48 People are moving south.
13:10 Primary drivers. Oil & gas.
14:25 Real estate use type: senior housing, residential, shopping malls, office, medical.
20:25 Solving problems and meeting needs. Get out from behind your desk.
23:40 Buy on the line; move the line.
25:18 Formulas and numeric rules of thumb.
27:20 Jetsons vs. Flintstones.
29:55 Relationship-based deals.
32:24 Price vs. value.
37:43 Your turnkey provider has local knowledge.
Resources Mentioned:
Transcript
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| 0:00.0 | Get Rich Education is brought to you by Volhollow Wealth and Ridge Lending Group. You're listening to the show that has created more passive income for people than nearly any show in the world. This is the powerful Get Rich Education. Welcome to GRICHE. |
| 0:32.6 | This is Keith Winehold and this is Get Rich Education episode 172. |
| 0:37.8 | With millions of listener downloads in 188 world nations, you are in the land of financially free beats debt free. |
| 0:46.6 | And I'm so glad that you're here. |
| 0:48.2 | When you think about your real estate portfolio, yeah, you're thinking in terms of your properties for sure, but there's something |
| 0:55.3 | even more important than your property, and that is your market selection. Today, we're going to |
| 0:59.7 | talk with one of the most prominent real estate developers in the United States about how he |
| 1:05.3 | selects a market, and this is a professional that makes his living on getting that market |
| 1:10.5 | choice just right. |
| 1:12.3 | And he's a really good teacher too. |
| 1:13.6 | He's been a faculty member on the prestigious real estate guys, Investor Summit at C and elsewhere. |
| 1:19.2 | Now, interestingly, he has the knowledge, confidence, and connections to buy property in a bad neighborhood. |
| 1:26.8 | Yes, he will sometimes specifically buy in a bad neighborhood. Yes, he will sometimes specifically buy in a bad |
| 1:31.0 | neighborhood. And yes, I just told you that he makes his living buying and developing. So we're going |
| 1:36.1 | to unpack that paradox for you today. He basically has the power to change the character |
| 1:41.6 | of a neighborhood. You know, what is perhaps the biggest mistake that real estate investors make today? |
| 1:47.4 | And that is the fact that they will only invest in one market. |
| 1:52.3 | That's such a mistake. |
| 1:53.7 | In fact, it's so important to get real estate markets right that I have left my Anchorage, Alaska hometown. |
| 2:00.1 | And I am here in Florida today to |
| 2:02.2 | specifically investigate real estate investing markets. I'm actually in North Florida now, |
| 2:07.0 | between Jacksonville and Orlando. Tomorrow I'll be visiting the Jacksonville real estate market, |
... |
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