Ep #219: Transition from Traditional Career to RE Investor — with Victor Menasce
March 5, 2019
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.
“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.”
[05:27] Victor’s challenging entry to real estate
[12:45] Case study: a deal that didn’t go as planned
[26:31] Details on taking over the deal
[33:31] How to report good and bad news to investors
[35:51] Overview commentary on the market
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