In this episode, we cover:
- Shane currently focuses on development projects, retail, industrial and multifamily. He has been in the industry for 15 years. He got better at raising money, finding opportunities, and finding partners.
- How Shane made the transition from working full time to flipping homes, and eventually getting into the commercial space. His father-in-law took him in the family company and showed him the entire process of getting into real estate investing.
- A piece of advice for someone starting to invest in multifamily or commercial real estate is to find someone that has experience. The only way to know if a deal is good enough is to have a little expertise.
- The factors contributing to Shane’s success as a real estate investor. One is to get to know who the players are in the local markets that you’re investing in. Another is to not be afraid to do the most mundane things. Shane does cold calling in finding opportunities.
- How to get into the development space. Before diving into this type of opportunity, make sure you have people around you that can protect you and your assets. But nothing beats partnering up with someone who has the expertise.
- Finding investment opportunities in the US. Get a good grasp of the markets by spending some time learning about them, touring the properties, and making contacts.
- One of Shane’s most successful deals. It was an industrial land that he bought for around $2.7 million. He built it and the total cost was $9.3 million and he ended up selling it for over $11 million within a period of 16 months.
Resources and links mentioned:
Connect with Shane:
Website: https://shanemelanson.com/home
About Shane Melanson
Shane Melanson is a commercial developer based in Calgary, Alberta. He helps high-income earners convert their income into cash flow through investing in commercial real estate. He has completed more than $70 million in real estate projects and has invested across Canada as well as the southwestern United States.
Shane is the author of Club Syndication, How the Wealthy Invest Their Money. He also hosts his own podcast, The Investing Advantage Podcast.
Connect with Adam Stelmach:
Website: https://adamstelmach.com/
Email: [email protected]