Buy on the Line, Move the Line with Victor Menasce

Victor Menasce is a developer with projects in multiple cities. He also hosts the daily Real Estate Espresso podcast.

In this episode, Victor shares how the new construction strategy allows him to deliver the product the market wants and gives him a fair share of the profit. He talks about infill and how you can take advantage of it by adding value to make money. He also shares what his book ‘Magnetic Capital’ is all about in terms of raising capital — how the five elements should be present to make it easier to find the money for your deals. Otherwise, if one of them is missing, then you have difficulty making people invest with you.

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What you’ll learn in just 17 minutes from today’s episode:

Discover an investment strategy that lets you create a product that is going to be in high demand when completed and gives you a decent amount of profit without having to pay too much
Find out the five elements that need to be present to make the process easier when raising capital
Find out what opportunity lies between the suburbs and downtown that you can add value on and make money from

Resources/Links:

www.victorjm.com

Topics Covered:

01:00 – What his main investment strategy these days
02:52 – Making sense of ‘Buy the line and move the line’
06:00 – Talking about infill
07:28 – Examples of projects he has done that moved the line
10:38 – The calculated risk you deal with moving the line properties
13:39 – Why he wrote the book, ‘Magnetic Capital.’
14:19 – The five elements of raising capital
17:47 – Why you’ve got to align the money with the goals of the project

Key Takeaways:

“I just don’t like being in that auction environment. Whereas, if we’re building something brand new that’s going to be in high demand when it’s completed, I can come up with the concept, develop something that’s got a decent profit margin — be it for a long-term or short-term, depending on what the desired exit strategy is.” – Victor Menasce

“We just love new construction. It’s very controlled, we get to deliver the product that the market wants. So, there’s not even a question of, `improve these kitchens and bathrooms, ‘is it going to do enough to juice the rents’; we’re delivering the product that the market wants today.” – Victor Menasce

“People want to invest with people that they know, like, and trust. If you’re going to focus on getting to know people, especially people with money, focus on relationships.” – Victor Menasce

“You’ve got to establish trust; it’s a psychological contract. It’s not just, are you dealing with an honest person? It’s, are you able to put together a good plan? Are you able to execute the plan are able to hire the right people? Can I trust you to communicate in an open and transparent way? Can I trust you with my money and on and on and on. If any one of those elements are missing, it doesn’t work.” – Victor Menasce

“Show me that you know how to be successful. Show me that if you screwed up, how did you handle it, and what did you do to make it right? Track record is vitally important.” – Victor Menasce

“Align yourself with people in your team that have that track record.” – Victor Menasce

“You’ve got to have a compelling opportunity. This is where most rookie investors start, they say, I’ve got a deal, it’s all about the deal.” – Victor Menasce

“You’ve got to have perfect alignment between the goals for the project and the goals for the money.” – Victor Menasce

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