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Investing in Commercial Real Estate with the Right Mindset, Habits, and Virtues with Tanh Truong
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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.
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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.
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