172: Real Estate Market Selection with Victor Menasce

#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: VictorJM.com GetRichEducation.com/Jax GetRichEducation.com/Orlando RidgeLendingGroup.com ValhallaWealth.com GREturnkey.com GetRichEducation.com