Personal Challenges While Putting Together Projects

The Very Real Estate Effect Investing in Quebec

In this episode, I open up about the roller coaster journey of a real estate investment project that's been the toughest challenge I've faced yet. I walk you through the ups and downs of developing a significant property in San Diego, transforming a plot into a 43-unit building with both residential and commercial spaces. I talk about the hurdles—securing permits, unexpected setbacks, and the sheer unpredictability of real estate development. I highlight the importance of vision, the grit needed to persevere through setbacks, and the critical role of adequate capital to handle surprises.

I share the personal struggles, the sleepless nights, and the stress of dealing with city authorities, along with the financial pressure of pumping more capital into the project. I offer straightforward advice for anyone thinking of stepping into this arena: be prepared for challenges, build a solid team, and always plan for more expenses than you anticipate. This episode isn't just a recount of difficulties; it's about sharing the raw realities of the industry, aiming to arm and inspire you to pursue your real estate dreams with a clear-eyed understanding of what it takes.

What you will learn if you listen to the episode:

- The challenge of developing a large-scale real estate project

- The importance of vision and perseverance in real estate investment

- Navigating city permits and unexpected project hurdles

- The role of adequate capital in covering unforeseen costs

- Building a solid team and planning for real estate development success

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Timestamps:

🏗️ Starting with a challenging development project in San Diego (00:35)

💡 Importance of vision in navigating real estate investments (01:00)

🚧 Overcoming city permit obstacles and unforeseen challenges (02:15)

💰 Managing financial strain and the need for extra capital (03:45)

🤝 The power of teamwork and perseverance in real estate (05:30)

🛌 Sleepless nights and stress from unexpected project hurdles (07:00)

👥 Adding value through community building in real estate projects (09:10)

🔄 Reflecting on the journey and lessons learned in real estate development (11:25)

🎙️ Inviting listener questions and engaging with the community (13:50)

🔚 Closing thoughts on commitment and sharing the real estate journey (16:30)

Connect with Axel Monsaingeon:

Linkedin - https://www.linkedin.com/in/axel-monsaingeon-42577b28/

Website - https://www.realestateeffect.ca/

Facebook - https://www.facebook.com/realestateeffect/

Instagram - https://www.instagram.com/veryrealestateeffect/

Youtube - https://www.youtube.com/channel/UCc8EYrmO1aVvVIgwT7AfNFw

Do you have any questions about your real estate journey?

Whether you're curious about navigating the complexities of development projects, dealing with financial challenges, or anything in between, I’m here to delve into the topics that matter most to you.

I invite you to submit your questions by visiting our website at https://www.realestateeffect.ca/ and clicking on the 'Send Voicemail' widget on the right side.

Your inquiries will help shape our upcoming episodes, ensuring we cover the real estate issues you're most interested in.