Investing in Commercial Real Estate with the Right Mindset, Habits, and Virtues with Tanh Truong
02/07/23 • 53 min
Our guest, Tanh Truong believes that the most valuable commodity anyone possesses is time. That is why he transitioned from his career as a pharmacist into becoming a commercial real estate investor. Tanh learned about real estate as he was taking up his Doctorate in Pharmacy.
Tanh came from very humble beginnings. They were immigrants to the U.S. and growing up he faced difficult challenges in his studies from preschool to pharmacy school. What mindset, habits, and virtues shaped Tanh and helped him overcome adversity and become successful? Listen now to find out!
Key Points from This Episode:
- Tanh Truong’s humble beginnings.
- The challenges he faced in his schooling as an immigrant.
- Why his parents placed a high value on education.
- How his parents afforded to send him to pharmacy school.
- How he became a full-time commercial real estate investor.
- Tanh Truong’s mindset and habits that helped him get out of a poor background to become a successful investor.
- How Tanh started acquiring small multifamily properties.
- How the residential assisted living model helped him to scale faster.
- How Covid affected his business plan.
- Why he transitioned to commercial real estate.
- Tanh’s advice on how to reach $5 million.
- How Tanh finds good business partnerships.
- The habits and virtues that are the most impactful for him in his investing journey.
- How Tanh found his mentor by providing value.
- What does Tanh enjoy the most now and what are his goals for the future?
Tweetables:
“Learning is one thing but putting it into action is another.” [00:16:46]
“Your foundation has to be the strongest. You have to understand what you’re getting into. If you don’t understand what you’re investing in, you should not be investing in it.” [00:24:34]
“Integrity and transparency are, probably, two of the biggest characteristics that you can have, two of the strongest when it comes to operating a business.” [00:32:45]
Links Mentioned:
About Tanh Truong
Tanh Truong is a former pharmacist turned full-time commercial real estate investor. He is the founder of Proton Capital and now controls over a quarter million square feet of commercial space. A thoroughbred of Cincinnati, he invests in high-yielding assets and higher-yielding relationships. Aside from investing, Tanh is a connoisseur of finance with a macro focus, a foodie, and an aspiring author.
Connect with us!
The main sponsor of our podcast is Rx Real Estate Investment. They make everything we do possible, and our conversations and interviews would not be available without their support. If you want to diversify your retirement portfolio and get into commercial real estate investing, working with Rx Real Estate Investment may be a great match for you. Check out the website at www.rxrei.com.
Connect with us!
Jeff Stark
Claude Condo
Newsletter
Our guest, Tanh Truong believes that the most valuable commodity anyone possesses is time. That is why he transitioned from his career as a pharmacist into becoming a commercial real estate investor. Tanh learned about real estate as he was taking up his Doctorate in Pharmacy.
Tanh came from very humble beginnings. They were immigrants to the U.S. and growing up he faced difficult challenges in his studies from preschool to pharmacy school. What mindset, habits, and virtues shaped Tanh and helped him overcome adversity and become successful? Listen now to find out!
Key Points from This Episode:
- Tanh Truong’s humble beginnings.
- The challenges he faced in his schooling as an immigrant.
- Why his parents placed a high value on education.
- How his parents afforded to send him to pharmacy school.
- How he became a full-time commercial real estate investor.
- Tanh Truong’s mindset and habits that helped him get out of a poor background to become a successful investor.
- How Tanh started acquiring small multifamily properties.
- How the residential assisted living model helped him to scale faster.
- How Covid affected his business plan.
- Why he transitioned to commercial real estate.
- Tanh’s advice on how to reach $5 million.
- How Tanh finds good business partnerships.
- The habits and virtues that are the most impactful for him in his investing journey.
- How Tanh found his mentor by providing value.
- What does Tanh enjoy the most now and what are his goals for the future?
Tweetables:
“Learning is one thing but putting it into action is another.” [00:16:46]
“Your foundation has to be the strongest. You have to understand what you’re getting into. If you don’t understand what you’re investing in, you should not be investing in it.” [00:24:34]
“Integrity and transparency are, probably, two of the biggest characteristics that you can have, two of the strongest when it comes to operating a business.” [00:32:45]
Links Mentioned:
About Tanh Truong
Tanh Truong is a former pharmacist turned full-time commercial real estate investor. He is the founder of Proton Capital and now controls over a quarter million square feet of commercial space. A thoroughbred of Cincinnati, he invests in high-yielding assets and higher-yielding relationships. Aside from investing, Tanh is a connoisseur of finance with a macro focus, a foodie, and an aspiring author.
Connect with us!
The main sponsor of our podcast is Rx Real Estate Investment. They make everything we do possible, and our conversations and interviews would not be available without their support. If you want to diversify your retirement portfolio and get into commercial real estate investing, working with Rx Real Estate Investment may be a great match for you. Check out the website at www.rxrei.com.
Connect with us!
Jeff Stark
Claude Condo
Newsletter
Previous Episode
Accomplish Anything in Life by Being Intentional, Creating a Plan, and Taking the First Step with Frank Macias
Are you graduating from college with a huge amount of student loans? Listen to Frank Macia’s story of how he got out of his student debt by being intentional, creating a plan, mitigating life’s expenses, and taking the first step toward his goal.
Because of his desire to achieve financial freedom, Frank explored other ways to earn more income. He discovered real estate and learned how to house hack and do short-term rentals. He experienced challenges along the way but he was able to get through them and learn valuable lessons. Listen now!
Key Points from This Episode:
- How Frank started as a pharmacist.
- Why he invested in real estate.
- His initial steps moving towards his vision and goal of financial freedom.
- How Frank's journey in real estate investing started.
- How he financed the lot he bought while still paying off his student loan.
- The setbacks of building a house from scratch and how Frank solved them.
- The advantages of getting a builder.
- Frank’s advice to pharmacists who graduated from school with a huge loan? Which should they prioritize – paying off their student loan or saving for an investment?
- The benefits of investing in real estate for a pharmacist.
- Why does Frank love house hacking?
- The tax benefits of real estate investing.
Tweetable:
“If you want to accomplish anything in your life, whether it’s career or financial goals, then you have to have some type of planning. You have to have some type of intentionality.” [00:10:06]
Links Mentioned:
Email Frank Macias
Frank Macias on Facebook
Frank’s Listings
Building an Investment Property with Frank Macias, PharmD
The Real Estate Robinsons
Gordon Ramsay’s podcast
STR Unfiltered podcast
The Short-Term Show
About Frank Macias, PharmD
Frank Macias graduated from Mercer University in Atlanta, GA in 2017 and worked as a pediatric pharmacist for Children’s Healthcare of Atlanta for 1 year. He moved back to Florida and worked full-time as a retail pharmacist and part-time at a pediatric hospital. Later on, he made the transition from retail to hospital. He worked as an evening staff pharmacist for about 4 years and transitioned to daytime.
As of now, Frank has been doing short-term rentals for half of the duplex and his initial single-family home since April of 2022. He self-manages the properties as they are on-site. Frank handles all the guest communications, listing management, pricing, maintenance and reservations while his wife handles the coordination of the cleaners, final inspections, supply ordering, and payroll.
Connect with us!
Claude Condo on LinkedIn
Jeff Stark on LinkedIn
The main sponsor of our podcast is Rx Real Estate Investment. They make everything we do possible, and our conversations and interviews would not be available without their support. If you want to diversify your retirement portfolio and get into commercial real estate investing, working with Rx Real Estate Investment may be a great match for you. Check out the website at www.rxrei.com.
Connect with us!
Jeff Stark
Claude Condo
Newsletter
Next Episode
Should I Pay Off Debt or Invest in Real Estate? Plus, Creative Ways to Finance an Investment with Steven Nguyen
Steven Nguyen graduated from pharmacy school with a whopping $250,000 student loan. For four years he focused on trying to pay it off. He achieved his goal and invested in real estate after that. Now, Steven works as a hospital pharmacy director but he also earns passive income through commercial real estate. But, if he were to go back and do it again, knowing what he knows now, would he still focus on paying off his debt or start investing in real estate at once?
In this episode, you will also learn creative ways to finance your investment if you don’t have a huge capital on hand. So hit that play button now!
Key Points from This Episode:
- Why Steven chose to be a pharmacist and how he got into it.
- Get out of bad debt and learn how to use and manage good debt.
- How to pay off a $250,000 student loan in four years.
- What to do after you have paid off your student debt.
- Why is it better to invest in real estate before paying off your student debt?
- Learn house hacking tips.
- Learn how to transition from house hacking to commercial real estate.
- Learn how commercial real estate investing works.
- Why is commercial real estate better than single-family?
- Creative ways to finance your real estate investments.
- Three options for seller financing.
- Different financing tools and concepts in real estate.
Tweetables:
“Keep that student mentality, that poor college student mentality, keep your living expense low, and save the difference. From there, once you saved money and you get into the habit of saving money, you’ve got plenty of options. You can just pay off your student loans if you want to or you can save it for a down payment on a house and house hack the property.” [00:17:20]
“What’s beautiful about multifamily is creative financing.” [00:27:24]
“Everything takes practice. It took me three years to become a pharmacist and two, three years to feel comfortable as a pharmacist. Same thing as a director. Same thing in real estate. It just takes repetitions. But what’s very fortunate about real estate is you don’t have to reinvent the wheel.” [00:37:04]
Links Mentioned:
Link to Steven Nguyen's social media accounts
Giveaway! Sign up here for a chance to win the Making Multifamily Money course for free!
About Steven Nguyen
Born and raised in the Bay Area, CA, Steven graduated from pharmacy school in 2013. He has been a hospital pharmacy director for the past 5 years. He owns 90 units of real estate – two apartment complexes, a mobile home park, and five single-family homes – without any partners while working full time. Steven offers a course and mentorship called Making Multifamily Money which includes a direct mailing automation service and one-on-one coaching.
Connect with us!
The main sponsor of our podcast is Rx Real Estate Investment. They make everything we do possible, and our conversations and interviews would not be available without their support. If you want to diversify your retirement portfolio and get into commercial real estate investing, working with Rx Real Estate Investment may be a great match for you. Check out the website at www.rxrei.com.
Connect with us!
Jeff Stark
Claude Condo
Newsletter
If you like this episode you’ll love
Episode Comments
Generate a badge
Get a badge for your website that links back to this episode
<a href="https://goodpods.com/podcasts/rx-investor-podcast-403056/investing-in-commercial-real-estate-with-the-right-mindset-habits-and-56353114"> <img src="https://storage.googleapis.com/goodpods-images-bucket/badges/generic-badge-1.svg" alt="listen to investing in commercial real estate with the right mindset, habits, and virtues with tanh truong on goodpods" style="width: 225px" /> </a>
Copy