#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?

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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