How to Become a Real Estate Developer, with Ricky Beliveau

Our guest today is Ricky Beliveau, a real estate investor with millions of dollars of assets and multiple development deals in Boston. In this episode, we talk about what it really means to be a developer, how to move from side-hustle investing to bigger development deals, and why a developer shouldn’t do construction. Learn more about Ricky and his journey at!

“By that point, it was cash flowing over $6000 a month over the mortgage. And then I was off to the races”


Ricky studied finance entrepreneurship in college and fell in love with real estate investing through one of his classes.

His first deal was a 3-unit multifamily, where he did a house hack so he could live rent-free. Then he renovated the building in 12 months, and the property became cash flowing over $6000 a month over his mortgage.

According to Ricky, the 2 best ways to make a property more cash flowing is to either add more value to it or increase the rent. He has a strategy on how to successfully talk to tenants about rent increases that he shares in the show.

“The basics of development is adding additional value to a property through the uses of zoning or permitting”


After his first successful rental properties, Ricky got into condo conversions. This meant that he bought a 3 family property, did the renovation, then split the single deed into 3 deeds, and sold them as 3 individual condos. This led him to do real estate projects, which eventually ended up in development.

At first, he sold the whole property and had no involvement after closing, but now he also has a property management company and manages the association into the future.

According to Ricky, a development deal is adding additional value to a property through zoning or permitting. Zoning or permitting deals usually works best on off-market properties, because it takes 24 months to finish.

“A true developer never does construction” 


Ricky learned from his mentors that a developer’s job ends at the development so they should exit before the construction phase. However, he works with a general contractor who does the construction to further increase the profit on the deal.

Ricky’s development process:

  1. Acquire the property
  2. Develop with zoning or permitting 
  3. Build with the help of a GC
  4. Sell or hold, or do both by staying as the property manager

Mentioned in the show:

  4. Christopher Voss and Tahl Raz – Never Split the Difference
  5. Ryan Serhant – Sell It Like Serhant

Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know:

Special thanks to Ricky Beliveau for taking the time to share so many great insights with us

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Until the next time, We truly appreciate you listening.

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Show produced by Eni Horvath