In this episode of Zen and the Art of Real Estate Investing, Jonathan sits down with Luis Belmonte, a lifelong real estate investor, to explore the lessons he's learned over decades of investing in multifamily, industrial, and commercial real estate across the U.S. and internationally.

Luis shares his early experiences, including navigating the complexities of San Francisco's real estate market in the pre-MLS era, identifying overlooked investment opportunities, and managing properties during challenging economic cycles. His stories reveal how creativity, persistence, and relationship-building have been central to his long-term success.

Luis takes us back to his first multifamily acquisitions, explaining the strategies he used to uncover deals when information was scarce. From attending broker meetings with nothing but a notebook and a case of beer to identifying opportunities through obituaries, Luis emphasizes the importance of proactive deal sourcing and building relationships with those who have local knowledge. He also discusses the transformative effect of San Francisco rent control, illustrating how strategic management and patience can yield extraordinary returns over time.

The conversation then shifts to international real estate development, highlighting the stark contrasts between regulations and construction practices in countries like Mexico and Japan compared to the United States. Luis recounts overcoming challenges such as unclear land ownership, lack of infrastructure, and differing bidding practices, underscoring the value of understanding local systems and collaborating with trusted partners. Whether navigating city politics in San Francisco or creating operational solutions abroad, Luis demonstrates that preparation and local expertise dramatically reduce risk and unnecessary costs.

Jonathan and Luis also examine the current economic landscape, including interest rates and cyclical market patterns. Luis offers perspective on borrowing, refinancing, and interest rate history, reinforcing that measured and disciplined investing remains key, regardless of market fluctuations. Finally, Luis shares his preferred asset classes for long-term wealth creation: multifamily and warehouse properties. He emphasizes the importance of choosing an investment style aligned with one's personality, seeking downside protection, and understanding operational realities to maximize returns.

You'll come away with practical advice on building sustainable real estate wealth, managing risk, partnering effectively, and identifying investment opportunities that others might overlook. Luis's guidance is grounded in decades of real-world experience, making this episode essential for both new and seasoned investors looking to grow their portfolios with confidence.

In this episode, you will hear:

• How Luis sourced early San Francisco deals before online MLS existed

• Creative approaches to finding undervalued properties and motivated sellers

• The impact of rent control on long-term investment returns

• Lessons from international real estate development in Mexico and Japan

• Strategies for partnering, reducing risk, and avoiding "stupid taxes"

• Luis' preferred asset classes for consistent long-term wealth

• How interest rate cycles affect real estate investing and financing

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Supporting Resources:

Seven Hills Properties website - 7hp.com

Website - www.streamlined.properties

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Email - [email protected]

Episode Credits

If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you.