#80. Luis Belmonte—From Vietnam to $2 Billion in Deals
In this episode of the "Income Flip" podcast, Rob Chevez interviews Luis Belmonte, a seasoned real estate developer from San Francisco. Luis shares his extensive journey in the real estate industry, starting from his early days as a property manager and handyman to becoming a successful developer. He discusses his experiences with various real estate deals, the lessons learned from both successes and failures, and his philosophy on investment and risk management. Luis emphasizes the importance of knowing oneself, understanding one's strengths and weaknesses, and being prepared for economic downturns. He also shares insights into his current focus on retail and low-income housing projects, highlighting the value of staying under the radar and bringing big-time expertise to small-time deals. Throughout the conversation, Luis offers valuable advice for aspiring real estate professionals, stressing the significance of indifference in negotiations and the need to always plan for the downside.
Luis Belmonte is a founding partner of Seven Hills Properties. Previously, Luis was Executive Vice President and among the founders of AMB Property Corporation (now Prologis), where he ran the development program ($250 million per year) and supervised management of assets (50 million sf) in the Western United States. During his tenure at AMB, he spearheaded the company’s efforts to enter the Mexican market and also developed the company’s headquarters on the San Francisco waterfront.
Prior to his tenure at AMB, Luis was a partner with Lincoln Property Company, responsible for industrial development projects in Northern California. Over the course of 16 years, he developed 18 million square feet of industrial buildings. His responsibilities included site selection, financing, construction management, leasing, and property management.
Luis spent three years on active duty with the U.S. Navy, during which time he rode a destroyer escort on coastal patrol in Vietnam and spent 13 months as the Naval Gunfire Liaison Officer, Fire Support Coordinator, and forward observer with the First Marine Regiment.
A graduate of the University of Santa Clara with a Bachelor of Arts degree (cum laude), Luis also pursued graduate studies in Political Science at the University of Chicago and the University of California at Berkeley.
Luis is a member of the Urban Land Institute and past chair of one of the organization’s Industrial and Office Park Councils, and a past president of the San Francisco chapter of NAIOP. In addition to industry involvement, Luis served as a board member for Boys Hope Girls Hope San Francisco for 20 years and was twice Board Chair of Ohlhoff Recovery Systems. He is the author of Get Rich Slowly: Invest in Real Estate and Real Estate 101.
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