Generating Wealth Through Tangible Assets With Dante Belmonte
Dante Belmonte is the Managing Partner of Victory Capital Group LLC. He's also the host of a podcast Make Money, Make Sense in Real Estate, where he educates investors on building their portfolio. He also owns a local real estate investment firm that specializes in acquiring and rehabbing small, multi-family buildings to force appreciation and maximize cash flow. His latest venture, as the founder of Victory Capital Group, LLC, is dedicated to working with qualified, passive investors. Passive investors partner with Victory Capital Group, LLC on specific real estate investments in cash-flowing markets and allow their money to work for them.
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Brett:
I'm excited about our next guest. He is the Managing Partner of Victory Capital Group LLC. His focus is really being a real estate investor and a top-performing real estate agent in the Central New York area. As an agent, he is focused on helping investors grow the portfolio of income-producing properties. He's also the host of a podcast Make Money, Make Sense in Real Estate, and a monthly meetup where he educates investors on building their portfolio. Please welcome to the show with me Dante Belmonte. Hey, Dante, how are you today?
Dante:
I'm doing great, Brett, thanks for having me on the show. I appreciate it.
Brett:
Absolutely. For our listeners getting to know you for the first time. Would you give them a little bit more about your story and your current focus?
Dante: Yeah, definitely. So my name is Dante Belmonte. I'm up in Central New York not to be confused with New York City, we've got cows roaming around. So I'm a Real Estate Agent/Broker in the upstate New York market, Syracuse, New York. Then with my partner DJ, down in the Carolinas, we've run as managing partners of Victory Capital Group LLC, a multifamily investment firm. That's a little bit about me and what we're currently doing at the moment.
Brett:
Excellent. To help us get to know you a little bit more. I believe we've all been given certain gifts, Dante, and these gifts that are given to us to be a blessing and help to others. So I want you to go back maybe to your high school days, maybe your university days, and I want you to think about maybe that strength, that gift that you've been given, how does that help how you help and bless people today?
Dante:
Yeah, so I don't know if it blesses people sometimes, but it kind of gifts, so to speak, because I'm a very outgoing person. So I'm very talkative. I like talking with people. And that's how, from a young age, I was always in sales and moved into bigger sales, which is just real estate and apartments are basically what that is. So sales are my expertise. I like talking to people. I like convincing people that they're making the right decision, which they are, and coaching them and helping them to make that right decision whether it's buying a house, buy an apartment, or the other sales I was doing in the past.
Brett:
Excellent, so outgoing, and coaching and helping others and communication. Is that a fair summary?
Dante:
Yes.
Brett:
So now let's dive in. What's the number one secret to simplifying Real Estate Investing?
Dante:
Number one secret... Hmm, I guess it's really niching down and knowing your strategy is, knowing what your goal is, what your end goal is, what you're trying to accomplish. So once you're able to figure that out, then you can start moving forward. From there, I'd say that's my sort of speak secret.
Brett:
As far as the end goal is concerned, what's the number one end goal you're seeing for your clients and investors in today's market?
Dante:
It's really just building that passive income. So they can now enjoy their family freedom, do what they want, when they want on their own time. That's definitely what the end goal of my clients is - what they have in mind.
Brett:
Yeah, that freedom of time and energy, the one thing we can't get back, right. So if you can create enough passive wealth through income-producing properties, cash-flowing properties, you don't have to necessarily work as much or as often or ever again, is that a fair summary?
Dante:
Exactly! Yep. You hit it right in the head.
Brett:
Excellent. So, talk to us about what you're seeing right now in the upstate New York marketplace, what's the inventory like? What's the appetite for real estate like? Give us the feel. A lot of people moving from the big city to the upstate.
Dante:
Yeah, so to kind of set the stage a little bit about what I'm doing up here is being a real estate agent, I focus on a lot of residential, and like one to four, maybe six and eight-unit properties. So I don't do the large commercial multifamily up here. I do it more in the South. But again, that's just to set the stage. So it's very competitive, just like a lot of spots in the nation. It's super competitive. For example, you know, I go to put an offer in a home for one of my clients and there are 53 other offers, and the home goes for 25 to 30% over asking super competitive environment. Things that I think are leading to that are lumber right now. It's very expensive to build. So people are buying existing assets, interest rates, they're extremely low. So your buying power is more powerful. The dollar is more powerful. In a sense, you can use more of it. And then people just being stuck at home for the last year or so they are stuck in their apartments, they really hate it, they realize they need more space, they need that home office, they want that back yard. So they're going to go out, go shopping a little bit more. And that's going to cause more competition in the marketplace is what I think it is. And then even on the investing side, you know, people have money saved up, they've been sitting home, they are looking to invest in real estate because they've learned about it, they've been seeing it online. And then again, being interest rates are low, again, keep coming back to that you're able to put in more money into an asset because that spread is going to be much larger.
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