Real Estate Investing School Podcast · Real Estate Investing School

What Every Investor Should Know Before Their First Ground-Up Development

·53 min·5 clips

Harry Arsene reveals how his company evolved from remodels to a 50-unit multifamily building in Seattle.

This episode features host Joe Jensen interviewing Harry Arsene, co-founder of Arsene Construction, a Seattle-based development firm. Arsene transitioned from a 13-year aerospace engineering career into real estate development alongside his wife. The conversation traces their journey from attending a real estate seminar to building a diverse portfolio. The discussion covers their initial strategy of remodeling properties before progressing to single-family and townhouse development. Harry details their current focus on multifamily value-add projects and new construction. He mentions their largest project to date: a 50-unit, 50,000-square-foot multifamily building in Seattle already under contract for sale. The company plans to break ground on a third multifamily site later this year. Arsene's wife played a pivotal role, working full-time on the business initially while he maintained his engineering job. Their entry into real estate began after a friend recommended a seminar, which his wife was eager to pursue. The business grew gradually until Harry could join it full-time. A key insight is their philosophy of trying various project types, from remodels to new construction, to gain broad experience. The pre-sale of their major multifamily project before completion highlights a strategic approach to securing exits. The couple's partnership, starting the venture based on a seminar suggestion, underscores an accessible entry point into development. Harry's mechanical engineering and product development degrees provided a technical foundation for construction management. Their methodical scaling, balancing a stable income with business growth, presents a conservative growth model. The narrative emphasizes hands-on learning across different asset classes rather than specializing early. The tone is conversational and educational, focusing on a practical, step-by-step career transition. The style is interview-based, with the host drawing out the guest's personal and professional milestones. Real estate investors seeking a case study on transitioning from a corporate job into development would find this episode valuable. Listeners interested in high-level market analysis or complex financing strategies might find the content too foundational.

Listen to the show on

Apple Podcasts Spotify

Play clips from this episode More from Real Estate Investing School Podcast