The Multifamily Wealth Podcast #39: Building a Sizeable Rental Portfolio in an Expensive Market, Condo Conversions, and Leveraging Social Media with Ricky Beliveau
If you live in an expensive market, this episode with Ricky Beliveau is a must-listen. Ricky shares how he used FHA loans to get started in the business and how it eventually built a large development business and buy and hold a portfolio in Boston, MA. We talk about the importance of building "deal flow" vs. just finding deals, why relationships are so important, and how social media helped to grow his business. This is a great episode regardless if you're in the development business - we talk about core ideas that are constants across all niches/asset classes in real estate!
Struggling to find good multifamily deals? Looking to close deals with less of your own money? Want to operate like the pros and maximize the cash flow of your assets? Join The Multifamily Wealth Community, where we help multifamily investors start, build, and scale their businesses… specifically, those looking to grow from 1-10 units to 250+ units.
Are you looking to invest in real estate but don't want to deal with the hassle of finding great deals, signing on debt, and managing tenants? Aligned Real Estate Partners partners with passive investors looking for the returns, stability, and tax benefits investing in real estate offers, but not the work - join our investor club to be notified of future investment opportunities.
Show Notes:
4:00 Ricky shares his background before becoming an investor, and how he got into real estate.
8:10 We discuss how Ricky used FHA loans early in his career.
9:30 Ricky shares how he moved from having a few properties to building a business.
14:30 We discuss Ricky’s current investing method and what the core of his business is.
19:00 Ricky discusses what his acquisition process looks like and how he finds deals off-market.
22:00 We discuss why networking and looking for opportunities are critical aspects of growing a business.
25:00 We explain how the money will follow a deal and why it is essential to not chase deals, but rather create deal flow.
33:00 Ricky explains why it is better to focus on one area to become an expert in.
35:30 We discuss why social media is beneficial for businesses and how it can build traction.
41:52 Ricky shares his biggest business-related failure.
45:50 We discuss what Ricky would do differently if he was starting his businesses over again.
48:27 Ricky shares his short-term goals in his development business.
CONNECT WITH RICKY:
https://www.linkedin.com/in/richard-beliveau-b078385/
https://www.instagram.com/volnaycapital/?hl=en
Connect with Axel:
Follow him on Instagram
Connect with him on Linkedin
Learn more about Aligned Real Estate Partners