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The Real Estate Espresso Podcast

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Welcome to The Real Estate Espresso Podcast, your morning shot of what's new in the world of real estate investing. Join investor, syndicator, developer, and author Victor J. Menasce as he shares his daily real estate investment outlook. Our weekday episodes deliver 5 minutes of high-energy, high-impact content to fuel your success. Plus, don't miss our weekend editions featuring exclusive interviews with renowned guests such as Robert Kiyosaki, Robert Helms, Peter Schiff, and more.

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United States

Networks:

Anchor FM

Description:

Welcome to The Real Estate Espresso Podcast, your morning shot of what's new in the world of real estate investing. Join investor, syndicator, developer, and author Victor J. Menasce as he shares his daily real estate investment outlook. Our weekday episodes deliver 5 minutes of high-energy, high-impact content to fuel your success. Plus, don't miss our weekend editions featuring exclusive interviews with renowned guests such as Robert Kiyosaki, Robert Helms, Peter Schiff, and more.

Language:

English


Episodes
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Behind The Scenes in Oil and Gas

5/27/2024
There are numerous misconceptions about the oil market. As a result, we have many people including the mainstream media drawing incorrect conclusions about the economy. On today’s show I’m gong to go deep on a few of these items. -------------- Host: Victor Menasce email: podcast@victorjm.com

Duration:00:05:43

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George Ross on Macro Versus Micro

5/26/2024
On today's show George and I are talking about the current market cycle and what signs to look for when seeking inflection points in the cycle. George was very clear. Get to the specifics and stay away from the macro discussion. But the appraisers who determine valuations don't always see it the same way. Listen to my conversation with George Ross. ------------- Host: Victor Menasce email: podcast@victorjm.com

Duration:00:09:30

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Changes To The US Tax Code with Tax Lawyer Brian Boyd

5/25/2024
Brian Boyd is based in Nashville Tennessee where he is practicing tax law. On today's show we are talking about some of the proposed changes to the US Tax Code and how real estate investors could adapt to those changes if they come to fruition. To connect with Brian visit briantboyd.com. ------------ Host: Victor Menasce email: podcast@victorjm.com

Duration:00:12:02

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A Tale of Two Investments

5/24/2024
On today’s show we’re going to take you through thought experiment. I’m going to give you two distinct sales pitches. I’m going to bet that most people will choose the lifestyle investment. The first is a luxury condo located in paradise. When you are not staying in your condo, it goes into the hotel's pool of rooms and you share in the hotel revenue. Hotel guests will pay for your vacation property. The second sales pitch is for a two acre parcel of land in the downtown core that may have future development potential. For now, it’s a parking lot for 200 vehicles. The parking lot has daily and hourly rates, and a discounted rate for evenings and weekends. Parking is expensive at $24 per day or six dollars an hour for the first four hours, after which you pay the full day rate. The parking lot is often full each day. The land is expensive at $8M. If you finance a large percentage of the purchase, you are facing a debt service amount of about $56,000 a month. The parking lot is not very sexy. It’s parking, surrounded by high rise office towers in the downtown core. One of these will appeal to the true analytic investor, and the other will appeal to the lifestyle investor. How many of the lifestyle investors will decline to even consider the parking lot? -------------- Host: Victor Menasce email: podcast@victorjm.com

Duration:00:05:33

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New Insurance Report From Fannie Mae

5/23/2024
On today’s show we are taking a look at a report that was published by Fannie Mae’s research team on Monday of this week. Fannie Mae’s research team is under the direction of Chief Economist Dr. Doug Duncan who is a past guest on this show. We are accustomed to getting overall market updates from Fannie Mae. This one was very different in that it was very narrowly focused on the insurance. I don’t ever recall seeing a report like this from Fannie Mae focused on a single expense line item. It contains a pretty detailed and comprehensive explanation of what has happened over the past two years in insurance and how it has impacted multi-family investors. Here's a link to the full report. https://www.fanniemae.com/media/51396/display

Duration:00:06:06

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Developing Waterfront Property

5/22/2024
On today’s show we are looking at the special considerations associated with developing a waterfront property. There are some special risks associated with waterfront that might not exist in other more central locations. -------------- Host: Victor Menasce email: podcast@victorjm.com

Duration:00:04:52

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Why Is The Market So Inefficient?

5/20/2024
On today’s show we are taking a look at market inefficiency and why it occurs. When I say inefficiency, we see markets oscillating between being vastly under supplied to over supplied and back. The signs of inefficiency are everywhere if you choose to look. But why is it happening? -------------- Host: Victor Menasce email: podcast@victorjm.com

Duration:00:05:39

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Top 3 Risk Items On A New Property

5/20/2024
On today’s show we are talking about the biggest things I look for when it comes to building on a new site. If you know the product that you are looking to build, then the hard cost of construction is fairly easy to estimate with pretty good accuracy. The largest variable is the site related costs. These can quickly spiral out of control. These risks are so severe that they can represent an existential threat to your project. The risks break down into three main categories: ----------------- Host: Victor Menasce email: podcast@victorjm.com

Duration:00:05:31

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Hard Money Lending with Chris Eymann

5/19/2024
Chris Eymann is based in Arizona where he does a high volume of house flips. He is also a lender. On today's show we are talking about the state of the market from the perspective of a lender. He can be reached on Instagram at chris_eymann or visit his property website at sellwholesalehouses.com. ------------- Host: Victor Menasce email: podcast@victorjm.com

Duration:00:13:48

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Filling Vacant Space with Adam Goldman

5/18/2024
Adam Goldman is a specialist in placing franchises with owners. Some commercial spaces struggle to find a tenant and a franchise can often be a solution to that problem. To connect with Adam visit franchisecoach.net or book a consultation with him directly at franchiseadam.com will get you a link to book a meeting time with him. -------------- Host: Victor Menasce email: podcast@victorjm.com

Duration:00:12:01

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How Can Your Phone Help Your Due Diligence?

5/17/2024
Have you ever wondered how the mapping software on your phone can alert you to a traffic jam? It doesn’t matter if you are using an android phone or an iPhone, the mapping software uses the same basic technique for determining what is happening in traffic. If your phone has location tracking turned on, then the operating system services will report back to Google or to Apple Maps the moving speed estimation of your phone and all of the other phones that are currently travelling along that stretch of highway. By collecting the aggregate information, they can determine the average speed that phones are travelling along that stretch of freeway. Since most of those phones are located with their owners inside a vehicle, we can infer that the cars and trucks are traveling at the same speed as the phones. If the speed limit on that stretch of road is 60, and the average speed is 30, they will probably color code that section of freeway in yellow and if the average speed is 10, they will probably color code that section of freeway in red to denote a severe traffic jam. Now you might be wondering why I’m telling you this on a real estate podcast. What the heck does this have to do with real estate? Well, this same technology can be applied to other types of analysis that are extremely useful to real estate investors. Let’s imagine for a moment that you want to invest in retail real estate, maybe a shopping center. In this case you don’t care how fast the phone is traveling, you want to know where all the phones are going. Where are they stopping? What if you could use this location information in a much more granular way. Let’s say that you wanted to open a shoe store in a particular mall, it might be useful to assess the foot traffic to the mall, to other shoe stores and other clothing stores in the area. This same technology can be used to tabulate the movement of cell phones according to location. ------------- Host: Victor Menasce email: podcast@victorjm.com

Duration:00:04:35

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White House White Paper

5/16/2024
On today’s show we are taking a look at a white paper that has been published on the White House website late last year. The document is called “COMMERCIAL TO RESIDENTIAL CONVERSIONS: A GUIDEBOOK TO AVAILABLE FEDERAL RESOURCES” This 54 page document outlines all of the programs that are available to at the Federal level to assist in these types of conversions. In addition to the Federal programs there are a number of local and state programs that are aiming to help facilitate these conversions. https://www.whitehouse.gov/wp-content/uploads/2023/10/Commercial-to-Residential-Conversions-Guidebook.pdf ------------- Host: Victor Menasce email: podcast@victorjm.com

Duration:00:06:09

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AMA - Keeping Your Legal House In Order

5/15/2024
Marc writes: I'm a real estate asset manager and developer with operations across Alberta, Quebec, and Ontario. I’m contemplating centralizing our legal operations to not only streamline communication but also consolidate all our legal documents into a single internal database, instead of having them scattered across different legal teams. I'm thinking of employing an internal paralegal to work with external lawyers, similar to our model of using internal bookkeepers with external accountants. What advantages or complications could arise from such a centralized approach? How might this affect the efficiency and quality of legal services we receive? Any thoughts in general? ----------- Host: Victor Menasce email: podcast@victorjm.com

Duration:00:05:44

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The Economics of EV Charging

5/14/2024
On today’s show we are talking about the merits of having a high speed charging station on your property. A charger is an income producing asset, or at least it might be depending on the contractual arrangement. ------------- Host: Victor Menasce email: podcast@victorjm.com

Duration:00:06:07

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Where to Find Good Data?

5/13/2024
On today’s show we are talking about the non headline revisions to economic data. I’m here to tell you beyond a shadow of a doubt that the US economy is in recession. What I’m sharing today is the good work that is done by Danielle DiMartino Booth. She is the CEO and chief strategist at QI Research. Previously Danielle was at the Federal Reserve Bank of Dallas for nine years working under Richard Fisher. This past FOMC meeting marked a significant departure from previous meetings where Fed chairman Jerome Powell described a change in Fed posture. This was not part of the initial remarks or the press release, but rather a response during the question period. He said that the Fed was shifting posture from fighting inflation to a return to its dual mandate to both maximize and maintain price stability. That means that the Fed is seeing something in the employment data that is concerning. On this show I’ve been reporting inconsistencies in the employment data for many months. Well now we have one more data point that categorically shows what is really happening in the jobs market. Every month the BLS puts out the payroll establishment survey and they publish the GDP for the nation. In addition to the payroll survey, the census bureau also conducts their own survey once a quarter. The data from the Census Bureau is much more comprehensive than the BLS survey. We also experience frequent revisions to the payroll survey. What the census data shows is that in the third quarter of 2023 instead of having 640,000 jobs created during that three month period, the economy actually lost 190,000 jobs in that time period. This is not a small difference. The narrative in the mainstream media is that the economy is strong and the consumer is resilient and the jobs market is strong. If the true data was being reported, I think it would be much more difficult to propagate that story.

Duration:00:06:03

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Tax Sheltering with Max Hansen

5/12/2024
Max Hansen has been practicing law for more than 40 years and is a true expert in tax sheltering with section 1031 of the US tax code. On today's show we are talking about some of the common pitfalls of using the 1031 exchange. Coming up on May 21 at 8PM EDT, 6PM MDT, we are going to be hosting an educational webinar where Max will be available to answer your questions live on sheltering capital gains. The best way to understand the process is with your own specific questions. To register for the webinar, click on the link below. https://event.webinarjam.com/register/25/n0n36u77 -------------- Host: Victor Menasce email: podcast@victorjm.com

Duration:00:16:32

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Land Development with Joshua Pardue

5/11/2024
On today's show we are talking about land development in Florida, about buying at the right time, and the elongated timelines associated with land development. To connect with Josh, search for Joshua Pardue on all of the major social media platforms. ---------------- Host: Victor Menasce email: podcast@victorjm.com

Duration:00:14:40

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Negotiating Without Negotiating

5/10/2024
On today’s show we are talking about the kinds of questions that are helpful when determining the scope of a project. We are often given estimates by contractors for work to be performed. Those elements that have the largest variability continually seem to be related to site work. I often experience sticker shock with these estimates. The key to getting an optimized cost starts with determining the proper scope of work. If you’re simply negotiating with a contractor to lower their price, that’s a pretty blunt instrument. The contractor is going to feel squeezed and they are simply seeing their margin being eroded. But if you approach the conversation from the perspective of making sure the contractor gets fairly paid for their work. You just want to make sure that we have a common understanding of the scope of work, that context usually changes the nature of the conversation. The bottom line number may actually increase in the event that the estimate is low. In order to have a meaningful conversation about the scope of work, you need to be prepared to go deep with the contractor on the assumptions behind the estimate. ------------ Host: Victor Menasce email: podcast@victorjm.com

Duration:00:04:57

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What Can The Government Learn From Diapers?

5/9/2024
Back in the 1960’s the first disposable diapers were introduced by Proctor and Gamble under the Pampers brand name. Cloth diapers had been the staple up until then and these new wonders were supposed to buy back time for new mothers who were previously saddled with massive amounts of laundry. By the mid 1970’s, Kimberly-Clark, the makes of Kleenex introduced the Huggies brand of diapers. This alternative to Pampers started to gain market share. In the meantime, Proctor and Gamble also introduced another brand of diapers called Luvs. Throughout the years there were numerous innovations in diaper technology including different fasteners, better form fitting around the legs, increased gel content and so on. With each new innovation, the manufacturers had a choice as to where to introduce those innovations. Pampers had been the dominant brand. They owned the market. They were the world reserve currency of disposable diapers. Huggies was there in the background with a distant second in market share. ------------ Host: Victor Menasce email: podcast@victorjm.com

Duration:00:05:00

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The War on Cars

5/7/2024
Virtually every apartment project is going to be constrained by parking. That one factor will determine the density that is going to be possible. In rental apartments, charging for parking is going to very from one area to another. For example in a dense urban area like NYC or Boston, it’s fairly routine to charge for parking. In fact, in cities like NY, I consider a car to be more of a liability than an asset. Those areas have very effective public transit and finding parking at your destination is going to take so much time that you would spend less time and less money if you simply took an Uber or a Taxi to your destination. In less dense areas and in places where public transit is not deeply ingrained into the culture like in Texas or Arizona, a car is a must. The distances are too large and public transit simply is not an option. Except in the rarest of instances, parking is free. So when you are designing your apartment project, how much land should you allocate to parking? Well, you’ll be surprised to hear that it’s about the same as your floor area ratio. By the time you factor in visitor parking and accessible parking, the parking ratio is going to be pretty close to 2 parking spaces for every apartment. Some projects are not going to be viable with less than a parking ratio of less than 1.75. I’m seeing cities create incentives to reduce the parking ratio below 1.0. In some cases I’m seeing ratios of 0.7 and 0.5. In places where there is public transit within walking distance, I’m seeing buildings approved with zero parking. I personally don’t think that the market will support those buildings in the long term. If someone wants to own a car at some point, they need to move. If they get into a relationship with someone who owns a car, that person faces the choice of parking or their new found relationship. Chances are they will have to move. This translates into higher tenant turnover. Parking is a loss leader from the perspective of a developer. It is not a source of revenue, and is simply a necessary cost.

Duration:00:05:11