FBF #614: Transition from Traditional Career to RE Investor -- with Victor Menasce
Real Estate Investing for Cash Flow with Kevin Bupp
Kevin Bupp
4.8 • 679 Ratings
🗓️ 7 July 2023
⏱️ 41 minutes
🧾️ Download transcript
Summary
Today's Flash Back Friday Episode is from Episode #219, which originally aired on March 5, 2019.
Today's episode of The Real Estate Investing for Cash Flow Podcast features real estate investment expert and serial entrepreneur, Victor Menasce.
Victor held senior roles at several firms in the high tech industry for 25 years before deciding to become full time with real estate 9 years ago. He has since touched on ground up RV communities, multi-family and residential developments, and much more.
Today he sheds light on a particularly unglamorous side of the business: rough patches and how he was able to weather them out to still achieve success.
Quotes:
"I wasted a lot of time and probably wasted a lot of money basically going back and entering that business from the bottom of the business as opposed to coming into that business from the top of the business."
"One of the perspectives that I always take when it comes to real estate projects is to make sure that those projects have enough margin to be resilient."
"The key in the success for any active business is the team."
"You want to make sure that if there is strong demand that there is some kind of constraint on the supply side."
"The number one mistake I see a lot if investors make is that they are starting projects that are too small and one of the consequences of that is that you can't afford the skills that you need to properly fill out your team."
Recommended Resources:
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If you're a high net worth investor with capital to deploy in the next 12 months and you want to build passive income and wealth with a trusted partner, go to InvestWithKB.com for opportunities to invest in real estate projects alongside Kevin and his team.
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Looking for the ultimate guide to passive investing? Grab a copy of my latest book, The Cash Flow Investor at KevinBupp.com.
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Tap into a wealth of free information on Commercial Real Estate Investing by listening to past podcast episodes at KevinBupp.com/Podcast.
Learn more about Kevin's investment company and opportunities for Lifetime Cashflow at sunrisecapitalinvestors.com.
Transcript
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| 0:00.0 | Welcome to this week's edition of Flashback Friday. It's your opportunity to get some good review by listening to episodes from the past that Kevin is handpicked to help you along your investment journey. If you like to partner with Kevin and join his team at Sunrise Capital Investors, head to invest with sunrise.com to learn more. That's invest with |
| 0:22.9 | sunrise.com. Enjoy the show. Our guests for this week's show is real estate investment expert |
| 0:29.3 | and serial entrepreneur Victor Minash. Victor has focused the past nine years of its professional |
| 0:35.0 | life on real estate investment. You got to start in |
| 0:37.9 | Canada and moved quickly into the U.S. markets as the opportunities for great investments |
| 0:41.6 | presented themselves. Now, prior to becoming a full-time real estate investor, Victor spent the |
| 0:46.7 | first 25 years of his career in the high-tech industry. Some of his past roles include |
| 0:51.6 | vice president of engineering at WaveSat, chief technical Officer at Applied MicroCircuits Corporation, |
| 0:58.5 | founder and chief operating officer at Somerset Technologies, and as well as at litany of other senior-level roles at high-tech firms. |
| 1:05.6 | Now, on the real estate side, Victor has been involved as a principal on a wide variety of projects, including ground-up |
| 1:12.7 | RV community, numerous multi-family developments, residential developments, just a litany of |
| 1:18.2 | different types of projects. |
| 1:19.6 | And he really does love the development space as well. |
| 1:21.6 | In fact, we're going to have a little bit of a discussion today about some of his development |
| 1:24.9 | projects. |
| 1:26.1 | And really, my goal in today's show, guys, is to |
| 1:28.8 | pull back the curtains on Victor's, on his company, on his operation, to better learn the |
| 1:35.5 | intricate details of his shift from an employee in the high tech field to becoming a full-time |
| 1:41.5 | real estate investor. In addition to that, we're going to, we're going to talk |
| 1:45.9 | about not just all the great things that have happened since making the shift to a full-time real |
| 1:51.0 | estate investor. Everyone always talks about how much money you make in real estate. And there's |
| 1:55.0 | lots of opportunity here. Don't get me wrong. But there's also lots of challenges along the way. |
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