The Real Estate Espresso Podcast

REGISTER HERE for the December 16 live demonstration of VictorAI.

------------

On today’s show we are talking about the myth of the housing crisis. 

But first, I’d like to invite you to a webinar next week on December 16 where I will be demonstrating the use of our new AI tool which we affectionately call VictorAI. This is our own custom language model which is built on top of ChatGPT. We trained VictorAI with the contents of the Real Estate Espresso podcast and my book Magnetic Capital. It’s the differe...

On today's show I'm speaking with George Ross about negotiating when there is a power imbalance and when a completed negotiation gets re-opened.

----------------

**Real Estate Espresso Podcast:**
 Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1)  
 iTunes: [The Real Estate Espresso Podcast](https://podcasts.apple.com/ca/podcast/the-real-estate-espresso-podcast/id1340482613)  
 Website: [www.victorjm.com](http://www.victorjm.com)  
 LinkedIn: [Victor Menasce](http://www.linkedin.com/in/vmenasce)  
 YouTube: [The Real Estate Espresso Podcast](http://www.youtube.com/@victorjme...

Brandon Cobb is based in Nashville, Tennessee where he specializes in land development. On today's show we are talking about navigating the curveballs that municipalities throw our way.

To connect with Brandon and to learn more visit https://www.hbgcapital.net/, or if you want to learn more about land development, visit https://learnlanddevelopment.com/

---------------

**Real Estate Espresso Podcast:**
 Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1)  
 iTunes: [The Real Estate Espresso Podcast](https://podcasts.apple.com/ca...

REGISTER HERE for the live VictorAI demonstration.

On today’s show we are talking about something that has happened in the macro economy that is not getting much attention. 

But first, I’d like to invite you to a live demonstration of our new custom language model which we are affectionately calling VictorAI. This is our own custom language model which is built on top of ChatGPT. We trained VictorAI with the contents of the Real Estate Espresso podcast and my book Magnetic Capital. It’s the difference between going to a family doctor versus going t...

On today’s show we are taking a look at the latest market report from data analytics firm ALN. This report is hot off the press this week and shows an continuation of an over-heated apartment market across much of the US. 

Here are the individual market stats across the US.

http://public.alndata.com/newsletters/2025/December/aln/marketstats.pdf

When you look at the individual market numbers, I’m left with a pit in the bottom of my stomach.

------------

**Real Estate Espresso Podcast:**
 Spotify: [The Real Estate...

Register for the VictorAI Demonstration Webinar

I’d like to invite you to a webinar next week on December 16 where I will be demonstrating the use of our new AI tool which we affectionately call VictorAI. This is our own custom language model which is built on top of ChatGPT. We trained VictorAI with the contents of the Real Estate Espresso podcast and my book Magnetic Capital. It’s the difference between going to a family doctor versus going to a specialist. The specialist is always going to give you a more precise answer. Click on the link...

Register for the Victor AI Demonstration Webinar December 16

-------------

On today’s show we are talking about real life network security and the importance of cyber security in today’s connected world. 

But first, I’d like to invite you to a webinar next week on December 16 where I will be demonstrating the use of our new AI tool which we affectionately call VictorAI. This is our own custom language model which is built on top of ChatGPT. We trained VictorAI with the contents of the Real Estate Espresso podcast and my book Magneti...

In recent weeks, a number of macro indicators and market signals have begun flashing warning signs for the U.S. economy. While nothing yet screams “crash,” the collective pattern suggests slowing momentum — enough that many investors and central-bank watchers expect a forthcoming policy shift.

--------------

Eric Bramlett runs one of the largest brokerages in central Texas. On today's show we are talking about the current market conditions in Austin Texas. Austin is facing a significant slowdown in both the residential market and in the rental market.

To connect with Eric visit https://bramlettpartners.com/

-------------

**Real Estate Espresso Podcast:**
 Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1)  
 iTunes: [The Real Estate Espresso Podcast](https://podcasts.apple.com/ca/podcast/the-real-estate-espresso-podcast/id1340482613)  
 Website: [www.v...

Chayce Lucca is base in Boston where he specializes in using AI in digital marketing. On today's show we are talking about the use of AI in marketing outreach.

To connect with Chayce, you can find him on LinkedIn at https://www.linkedin.com/in/chaycelucca/ or at his marketing agency at https://synapseautomate.com/

-------------

**Real Estate Espresso Podcast:**
 Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1)  
 iTunes: [The Real Estate Espresso Podcast](https://podcasts.apple.com/ca...

On today's show I'm coming to you live from Mont Tremblant where they are hosting a major ski event this weekend. We are also launching two brand new buildings and moving in 50 residents all at once. We're discussing the processes for launching a new building in a short time period and ensuring the resident experience is outstanding.

---------------

On today's show we are talking about bonus depreciation. This is a powerful tool to save on your taxes if you are properly structured.

To learn more about the projects at Y Street Capital visit

https://ystreetcapital.invportal.com/login

------------

**Real Estate Espresso Podcast:**
 Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1)  
 iTunes: [The Real Estate Espresso Podcast](https://podcasts.apple.com/ca/podcast/the-real-estate-espresso-podcast/id1340482613)  
 Website: [www.victorjm.com](http://www.victorjm.com)  
 Li...

Bonus Depreciation Webinar

On today’s show we are talking about how to spot when you are on the receiving end of content that has been created by artificial intelligence. 

But first, I’d like to remind you that we only have a few weeks remaining in the calendar year. If you sold an asset this year, or if you earned a lot this year, you might have a bunch of tax owning next year. Buying an asset might be the solution. 

Bonus depreciation is a powerful tool. It doesn’t apply equally to every...

On today’s show we are doing a comparison of our newly launched AI tool. This tool, lovingly called VictorAI is a knowledge base constructed from the Real Estate Espresso Podcast and my book Magnetic Capital. 

When it comes to AI there are two aspects, there is the training and then what is called inference or what would be the result of a query. 

If you are searching in a generic search engine like ChatGPT or Gemini or Perplexity you are going to get a more generic answer. 

This is a little like going...

This book names people who I knew or knew of in Silicon Valley. It is a reaction to the author's time at Kleiner Perkins Caulfield and Byers. He was part of the team that financed Google and co-founded Drugstore.com during the dot-com frenzy. He was actively involved with Jeff Bezos at Amazon. The prevailing wisdom was simple: raise as much capital as possible, scale at breakneck speed, and worry about profitability later. 

At the heart of the book is the Evergreen model, a philosophy of building companies that last “and last and last.” Whorton outlines the Everg...

Rod Khleif is a repeat guest on the show. He's based in Sarasota Florida. On today's show we are talking about his first Assisted Living investment in Pittsburgh. Rod is also the host of the Lifetime Cashflow through Real Estate Investing podcast.

To connect with Rod, the best way is https://rodkhleif.com/links/ which will give you access to numerous assets in his world.

----------------

**Real Estate Espresso Podcast:**
 Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1)  
 iTu...

Eugene Gershman is based in Bellevue Washington where he specializes in development. His projects are not constrained to the Pacific Northwest. On today's show we are talking about how to choose sites that are candidates for development.

To connect with Eugene, you can find him on LinkedIn at https://www.linkedin.com/in/eugenegershman/ or at giscompanies.co

-----------

**Real Estate Espresso Podcast:**
 Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1)  
 iTunes: [The Real Estate Espresso Podcast](https://pod...

BONUS DEPRECIATION WEBINAR REGISTRATION

I’m coming to you live from one of our construction sites. On today’s show we are talking about acceptance criteria for new construction. But first, I’d like to invite you to a special webinar scheduled for December 4 on how Bonus Depreciation could benefit your investment strategy. There are only a few weeks remaining in the year and now is the time for some last minute tax planning. If you sold an asset this year and might be facing a big tax bill, buying another asset might be the ticket to deferr...

The DOJ accused RealPage in August of 2024 of facilitating unlawful price-fixing and rent inflation by using competitively sensitive, nonpublic data from multiple landlords to generate rent recommendations, effectively aligning pricing across competing properties. 

Anti-trust behavior, also known as anti-competitive conduct, refers to business practices that substantially lessen competition in the marketplace, restrict free trade, or lead to the unfair formation or abuse of a monopoly. These actions ultimately harm consumers by resulting in higher prices, lower quality, reduced innovation, and less choice.

The Justice Department’s Antitrust Division filed a proposed settlement this week to res...

The Surfside condo collapse in 2021 precipated a number of changes to Florida's condo laws. The result has been a massive negative impact on condos across the entire state.

The latest change to the regulations improves the outlook by allowing home owner associations to fund part of their reserve funds using loans and lines of credit. Previously these reserves had to be funded in cash by the unit owners, often resulting in special assessements of hundreds of thousands for each owner.

------------

**Real Estate Espresso Podcast:**
 Spotify: [The Real Estate Espresso Podcast](https://o...

We have become accustomed to hearing about legislative changes that advance tenant rights and make it more and more difficult for property owners to protect their properties and indeed run a profitable business. There is nothing that compels investors to make losing investments. If made sufficiently unattractive, investors simply won’t invest and the country will experience an acute shortage of housing which will have the effect of pushing rent prices higher. 

This time, there is an example of government creating the incentives to build more housing and to break down the procedural delays that make it mor...

On today’s show we are looking at the compressibility of construction schedules. We often hear that projects will take longer and there are all kinds of reasons why they legitimately need to take longer. 

It’s a large site and the site work will take a long time. The utilities are not available. The city infrastructure isn’t ready. We can’t find enough labor. The excuses are abundant. 

As developers we are no strangers to delays and we have experienced many of them. Most of them having to do with the entitlement process. Sometimes...

Allison Kierman is based in Scottsdale Arizona where she specializes in estate planning for business owners and high net worth families. On today's show we are talking about some of the pitfalls that can occur when this sometimes painful topic is ignored.

To connect with Allison you can call 480-719-7333 or visit kiermanlaw.com

-------------

**Real Estate Espresso Podcast:**
 Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1)  
 iTunes: [The Real Estate Espresso Podcast](https://podcasts.apple.com/ca...

Anthony Scavo is based in Westchester NY where he invests in small bay industrial across the US. The company has amassed 5 million square feet since 2021 and in on an aggressive growth trajectory.

You can reach Anthony at basisindustrial.com or email him directly at anthony@basisindustrial.com.

-------------

**Real Estate Espresso Podcast:**
 Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1)  
 iTunes: [The Real Estate Espresso Podcast](https://podcasts.apple.com/ca/podcast/the-real-estate-espresso-podcast/id1340482613)  
 Website: [www.victorjm.com...

In real estate, most operational mistakes are not the result of bad intentions. They are the result of assumptions. You believe the tenant will know where to park, how to receive packages, how to operate the thermostat, or how to submit a maintenance request. You assume your team will know how to prepare the unit, confirm utilities, or walk a resident through the lease.

But assumptions are the enemy of predictable execution.

Professional developers use a tool from the software world called use cases, sometimes known as user stories, to design a process that works...

On today’s show we are talking about the impact of artificial intelligence on the design of apartment buildings. The most obvious medium term impact of AI is going to be on the automotive industry. Some people prefer to drive by car because they don’t want the experience of public transit. It’s noisy, it’s crowded. You can’t have a private phone conversation on a bus or on the subway. The bus doesn’t take you where you want to go. It may take you close by, not exactly where you want to go. Even in places where...

Sometimes in life you have amazing foresight and insight. And then other times you’re just lucky. This is one of those cases where we are just lucky. I’ll gratefully accept luck when it happens to benefit us. In fact we have no choice. We have have to accept unlucky bounces as well. 

This week there was an announcement of a major new nuclear power installation for Brigham City Utah. This suburb of Salt Lake City has a population of about 20,000. We know this area well because we have a 21 acre project currently under development just off t...

On today’s show we are taking a look at the benefits of working in an office environment versus remote work. 

Back in 2019 average commute times in major cities had reached a peak. For example average commute times in San Francisco were 33 minutes. During the pandemic, that fell to 25 minutes. But in truth, since many were not commuting at all, the commute times for people working from home went to zero. Fast forward to this year and commute times are back above 30 minutes again, essentially mirroring times from 2019, despite the fact that many offices remain vacant. In fact...

Today's question comes from Zane in Georgia who asks:

I was hoping to get a professional opinion or suggestion on how I should approach an issue with a small town council who won't update utilities and a seller who wants a premium price for their land but cannot get it because of utilities being maxed out. I am a residential and small multi investor and my knowledge of selling land for development is minimal. I have known the seller and family for several years and they trust me to represent them honestly, which is why they asked...

Joel Landon is with Heritage IRA, based in Salt Lake City. On today's show we are breaking down the different types of retirement accounts and why you would choose one over another. To connect with Joel, visit heritageira.com or email him directly at joel@heritageira.com.

-------------

**Real Estate Espresso Podcast:**
 Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1)  
 iTunes: [The Real Estate Espresso Podcast](https://podcasts.apple.com/ca/podcast/the-real-estate-espresso-podcast/id1340482613)  
 Website: [www.victorjm.com](http://www.v...

Mike Zlotnik is based in New York City and he invests in multiple asset classes across the mid-western part of the United States. On today's show we are talking about how the investment thesis has changed over the past few years with a renewed emphasis on safety and cash flow.

To connect with Mike, visit https://bigmikefund.com/ where you can find both his podcast and his corporate site.

---------------

**Real Estate Espresso Podcast:**
 Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75e...

Coming to you live from Tulum Mexico where we have just wrapped up our Build to Scale Mastermind. This is our annual event, held roughly at the same time each year. We choose this time because it is a chance to start planning for the next calendar year before the start of the next year. 

Unlike past years, this year focused on more than just goal setting. We still did spend considerable time on goal setting. But we also spent time on the topic of business scaling with an emphasis on mergers and acquisitions.

----------- Duration: 00:05:19

On today’s show we are looking at what I consider to be one of the most ridiculous market forecasts from what should be a respectable institution.

The IEA which is based in Paris issued an updated demand model in the run up to the UN’s annual climate change talks, this year scheduled to take place in Brazil. 

I believe it is important to understand energy markets, even as a real estate investor. It’s important because energy is the economy. You cannot have a unit of economic output without a corresponding unit of energy...

The latest announcement from the White House is a proposed 50 year amortization loan in order to improve home ownership affordability. 

This proposal is naturally met with criticism from all sides. The obvious advantage is that the principal portion of the monthly loan payment can be spread over a longer time period and thereby reduce the size of the loan payment. 

The purists will argue that the amount of interest paid over the life of the loan balloons to unreasonable numbers. 

Perhaps the largest criticism has been that lower monthly payments will only have the...

On today’s show we are talking about the investor mindset. A few years back I wrote the book Magnetic Capital. That book was written based on observations that I had made when I was raising capital in the tech industry. Then when I made a left turn in my career in 2009 and moved into the world of real estate investing, I used my own funds until I ran out, and then raised funds. In doing so I re-learned the process of raising capital and discovered that it was essentially the same. 

At the core of any inv...

On today's show we are talking about Assisted Living and the number one mistake that investors (large and small) make when it comes to investing in senior housing.

-------------

**Real Estate Espresso Podcast:**
 Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1)  
 iTunes: [The Real Estate Espresso Podcast](https://podcasts.apple.com/ca/podcast/the-real-estate-espresso-podcast/id1340482613)  
 Website: [www.victorjm.com](http://www.victorjm.com)  
 LinkedIn: [Victor Menasce](http://www.linkedin.com/in/vmenasce)  
 YouTube: [The Real Estate Espresso Podcast...

Bronson Hill is based in Pasadena where he runs Bronson Capital. He lives a short distance from the Altadena fire and the Pallisades fire that devastated nearly 20,000 structures last year.

On today's show we are talking about using modular construction to accelerate the rebuilding process. To connect with Bronson and to learn more, text the word "Inflation" to 33777.

-------------

**Real Estate Espresso Podcast:**
 Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1)  
 iTunes: [The Real Estate Espresso Podcast](https://pod...

Mauricio Rauld is based in Southern California and is the founder of Premier Law Group which he recently sold. Our team is continuing to work with the Premier Law Group as our securities lawyers. On today's show we're talking about a few of the upcoming changes to securities regulations.

To connect with Mauricio, goto askmauricio.com or check out his youtube channel at http://www.youtube.com/@MauricioJRauld. Access to his Inner Circle Syndication Mastermind can be found at coachingwithmauricio.com.

-------------

**Real Estate Espresso Podcast:**
 Spotify: [The Real Estate Espresso Podcast](h...

On today’s show we are talking about a recently published market report on industrial from Cushman and Wakefield

The U.S. industrial market continued to demonstrate strength and balance in the third quarter of 2025, showing clear signs of stabilization after two years of turbulence. Despite macroeconomic headwinds—from moderating consumer demand to policy uncertainty and tariffs—industrial real estate remains the most fundamentally sound asset class across commercial property types.

According to Cushman & Wakefield’s Q3 2025 U.S. Industrial MarketBeat, national industrial net absorption reached 45.1 million square feet (msf) in the third quarter, a 30% increase...

On today’s show we are talking about negotiating with a lender. We have a loan application in process that has taken much longer to finalize than promised. 

It often happens that a project has complexity associated with it. The lender puts the data room into underwriting and what comes out the other end often is surprising. Surprises at this stage are usually not good surprises. The terms at closing can differ significantly from the terms offered in the signed term sheet. 

This is where it is important to ask questions. Why did you reduce the...

Most countries have a value added tax of some kind that is computed on consumption of goods and services. For example, European countries have extremely high VAT typically ranging from about 17% to 27% depending on the country, with most EU member states using standard rates between 19% and 25%. For example, Germany applies a standard rate of 19%, France 20%, Italy 22%, and Hungary 27% (the highest in the EU), while reduced rates can apply for specific goods and services such as food, books, or medicines depending on national policy.

Canada has a goods and services tax of 5% charged by the federal government. Provinces...

Can you tell me whether the data contained in your business systems is compliant with the US Cloud Act, Canada’s law Personal Information Protection and Electronic Documents Act, or the European Union GDPR?

I expect that most people would claim complete ignorance of the rules, let alone have any idea whether they are in compliance or not. 

There is no way you are going to check whether a cloud hosted software application is compliant if you don’t even know to ask the question.

The problem is that when you sign up for a...

On today’s show we are looking at some of the changes happening in the global monetary system that I believe  are being largely misunderstood. 

The Genius Act is enabling the US the extend its reach internationally which could have the effect of strengthening the US position as the world reserve currency. 

Think about the demand for dollars or any stable currency if you live in a country that has high inflation. The people in Turkey or Argentina or Venezuela along with numerous other countries are experiencing very high inflation. Inflation in Turkey is close to 50...

David Foster is based in St. Petersburg Florida where he is a princpal at The1031Investor.com. On today's show we are talking about going beyond shelter from capital gains. The 1031 can be used to shelter from depreciation as well.

To connect with David, visit http://the1031investor.com/about-us/

----------

**Real Estate Espresso Podcast:**
 Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1)  
 iTunes: [The Real Estate Espresso Podcast](https://podcasts.apple.com/ca/podcast/the-real-estate-espresso-podcast/id1340482613)  
 Websi...

Our book this month is "The Art of Saying No" by Damon Zahariades.

Zahariades begins with a sobering analysis of why this simple, two-letter word is so cripplingly difficult for so many. He posits that our cultural conditioning, our deep-seated need for approval, and an often irrational fear of conflict combine to make "yes" the path of least immediate resistance. This path, however, leads invariably to the dark wood of resentment and burnout.

The true value of The Art of Saying No lies in its transition from diagnosis to action. Zahariades provides a robust, immediately...

This week, a whole bunch of new capabilities were rolled out with no fanfare of announcements, by none other than Google. 

These capabilities were rolled into Google earth where there is a whole host of new layers that can be enabled. Some are included in the free offering, and the rest require an upgrade to either their Professional service or their professional advanced service, The Pro account costs $75 / month per user and the Pro Advanced is $150 per month. 

When I look objectively at what is being offered, the price is high and the services are un...

Email: podcast@victorjm.com and put the word "Bonus" in the subject line.

There are two months remaining in the calendar year. For many that means some last minute tax planning. This year re-introduced bonus depreciation in the US at 100% write-off. If you are looking to take advantage of this lucrative tax strategy, then you might consider one of our industrial or storage investments that would qualify for bonus depreciation this year. We have several projects that could be a potential fit to your investment portfolio. If you’re interested in learning more, send an email to po...

Rates continue to fall today. There were two rate announcements, only hours apart. This morning the bank of Canada reduced its benchmark lending rate by 0.25%. Weakness in the labor market was the top cited reason for the drop in rates. 

This afternoon at 2:30, Chair Powell stood at the podium as he does every six weeks and announces the results of the two day FOMC meetings. The Fed dropped their benchmark lending rate by 0.25% to a target range of 3.75% to 4%. This is the second consecutive rate cut by the Fed, a move aimed at supporting a labor market t...

On today’s show we are talking about how to search the Real Estate Espresso Podcast. With over 2800 episodes there is a significant body of work. We have many loyal listeners and I often hear about past episodes from listeners. Searching 2800 episodes for something you have heard in the past can be a daunting task. So much so that most people won’t even try. So we have made the investment in creating a custom AI tool, specific to the Real Estate Espresso podcast.

Let’s imagine that you want to know what did Victor have to say ab...

CLICK HERE to learn more about our Bradenton Crossing project.

Have you finalized your tax strategies for 2025? There is still time in 2025 to take advantage of bonus depreciation which can result in huge tax advantages for the savvy investor. That’s the icing on the cake for an otherwise really strong investment opportunity. The opportunity is a 35 acre project in Bradenton Florida. The property is anchored by a charter school that has 800 students and is income producing. The student’s are not eligible for depreciation, but the buildings are. If you’d like to learn more, send an ema...

Max Hansen is a senior manager with Accruit and leads organizations in Denver and in Montana. On today's show we are talking about some of the more sophisticated ways of using the 1031 for sheltering gains from tax.

To reach out to Max, call 800-237-1031, or visit Accruit.

--------------

**Real Estate Espresso Podcast:**
 Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1)  
 iTunes: [The Real Estate Espresso Podcast](https://podcasts.apple.com/ca/podcast/the-real-estate-espresso-podcast/id1340482613)  
 Website: [www.victo...

Dave Seymour is based in Boston where he became known for the star of the hit A&E TV show Flipping Boston

To connect with Dave, reach out to him directly at:

https://www.linkedin.com/in/daveseymour343/

or on his website at

https://www.freedomventure.com/

On today’s show we are talking about the impact of data centre infrastructure on the cost of new construction for single family homes and apartments. 

Data centres are power hungry beasts and building them will require a lot of electricians. The concern is that the US does not have enough electrician now. Many of those electricians are nearing retirement and the number of new entrants to the trade are not replenishing those who exit. There are so many electricians required for data centres that there will not be enough for the scale of work required across all...

On today’s show we are talking about how to interact with a lender. 

If you’re in the game of real estate, chances are you’ve borrowed money. Lenders come in all shapes and sizes from the traditional community and regional banks, to the larger agency debt like Fannie Mae or Freddie Mac, to the government sponsored loans from HUD or SBA. There are then numerous private options including debt funds, CMBS loans, preferred equity, CPACE  and mezzanine lenders. 

They all have one thing in common. They will go through an underwriting process that requires...

On today’s show we are talking about how to best use artificial intelligence in your daily business. 

AI is not good at producing a finished work product that you would be happy to deliver to a customer. There may come a time when that is true. But today, if you are delivering something of true value, you need to be creating at least a portion of that work. I have not encountered a scenario where an AI tool was able to take something from start to finish in one step. 

In frustration I took the...

On today’s show we are talking about cutting corners in quality assurance. We are all extremely busy. That’s certainly true for me. My average day consists of 5-6 hours of scheduled appointments. Against that backdrop, it’s difficult to get anything done that requires focus time. 

So when you’re too busy, there are tempting shortcuts. These include delegating tasks to other people in the organization, and sometimes taking advantage of tools like artificial intelligence to save time in the review process. 

When I was in the world of tech product development, we used to at...

On today’s show we are unpacking the critical details every sophisticated investor, developer, needs to understand about the different types of flood plain designations and how wetland mitigation can make or break your deal.

First, why do people even want to develop in flood plains? For one, the land doesn’t usually present itself as a flood plain. It’s completely dry most of the time. But, like every opportunity, there are layers of risk and regulation you need to run through.

The U.S. government, via FEMA, essentially maps out risk using what’s called...

Jon Yoo is with Convoy Home Loans based in Los Angeles. They specialize in DSCR Loans for commercial investors. On today's show we are talking about some of the market dynamics. To connect with Jon, visit https://convoyhomeloans.com/ or email him at info@convoyhomeloans.com.

------------

**Real Estate Espresso Podcast:**
 Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1)  
 iTunes: [The Real Estate Espresso Podcast](https://podcasts.apple.com/ca/podcast/the-real-estate-espresso-podcast/id1340482613)  
 Website: [www.victorjm.com](http://www.victo...

We have two guests on today's show. Garrett Sutton is well known as one of the Rich Dad advisors for asset protection. His son Ted has joined the practice and is going to succeed Garrett in the long term. On today's show we are talking about some of the new legislation at the state level that will affect investors. So far only New York has enacted its own corporate transparency act. But there are other states that are considering it. The result could be a complex patchwork of regulations that will make compliance much more complicated than a single...

On today’s show we are talking about the mobility of wealth. Everyone I speak with from NYC is extremely fearful of the change that seems likely in the Mayor’s office next month based on early polling results. Many are considering leaving the city. Even those who want to continue to work in the city are moving to nearby cities and states. Some are going to New Jersey. Some are going to Connecticut, others to Pennsylvania.

NYC has become a tale of two cities. There is a lot of wealth in Manhattan specifically. There are about 350,000 mill...

On yesterday’s show we talked about how AI might be influencing the functional obsolescence of industrial warehouses. On today’s show we are looking at another aspect of AI and how it could affect the value of industrial real estate. 

On today’s show we looking at how transportation is going to evolve with the advent of autonomous trucking. Will this have an impact on industrial property? Now this sounds like science fiction and something that is going to be in the distant future. But it’s much closer than you think.

Many of these new...

AI is continuing to make headlines on nearly a daily basis. But this is a real estate podcast, not an AI podcast. We need to assess the impact of AI on real estate. On today’s show we are looking at whether AI will change the design of industrial warehouses and render some of the existing warehouses functionally obsolete. 

The introduction of robotics has profoundly changed the design of industrial warehouses, moving them away from layouts optimized for human movement to a new paradigm centered on efficiency, density, and data-driven automation. This shift is driven by the cap...

Today's question comes from Steve who writes: "How do municipalities allow zoning and use applications that are filed by an entity that doesn’t own the property? Can a group of citizens argue that the applicant doesn’t have property rights when they don’t own the property?"

----------

**Real Estate Espresso Podcast:**
 Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1)  
 iTunes: [The Real Estate Espresso Podcast](https://podcasts.apple.com/ca/podcast/the-real-estate-espresso-podcast/id1340482613)  
 Website: [www.victorjm.com](http://www...

As real estate investors we need to be paying attention to many aspects of the economy. After all, we are investors first and foremost and real estate investors second. 

Our investments do not occur in isolation. They are influenced by the surrounding environment. If the stock market rises, how does that affect real estate? If the stock market crashes, how does that affect real estate? 

On today’s show I’m going to predict a stock market correction and using history as a guide, predict the impact on the economy as a whole and real estate...

Keith Weinhold is based in Anchorage Alaska. I had the pleasure of visiting with Keith on his home turf a few weeks ago where he gave my wife and I a tour of the city.

On today's show we are talking about divesting fully from Anchorage and redeploying capital into the Tampa Bay area. Tampa and Anchorage are almost extreme opposite ends of the country. A unique element of Keith's strategy has been to invest in new construction properties. The benefits include lower maintenance and higher tenant retention.

Keith is the host of the "Get...

Hugh O'Reilly is based in Toronto where he has a background in law and as the head of a major pension fund. Today he advises technology startups in the property tech space. On today's show we are talking about Landlogic.ai and what is possible using these advanced tools.

To connect with Hugh, visit https://www.landlogic.ai/ or email him directly at hmboreilly@gmail.com

------------

**Real Estate Espresso Podcast:**
 Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1)   Duration: 00:11:39

On today’s show we are talking about the impact of recent US Federal Government policy changes and then the government shutdown on real estate.

There are several government agencies involved in commercial financing. These include the US Department of Agriculture, the department of housing and urban development, the department of Veterans Affairs, the Federal Housing Finance Agency (FHFA) and the Small Business Administration. 

Loan applications involving Fannie Mae and Freddie Mac also rely on reports generated by government agencies that are currently closed. All of these sources of financing are either delayed or are at...

ALN Apartment Data published a new national report this week. It's hot of the press. Two major developments have defined the multifamily sector this year, and both have been widely felt. The first, a deceleration in new apartment supply, was anticipated as the 2024 construction boom reached its peak. The second, a broad resurgence in apartment demand, has exceeded nearly everyone’s expectations.

While the slowdown in new deliveries was written into the forecast, the scale and breadth of the demand recovery have caught the industry by surprise. This is not just a rebound — it’s a synchronized surge...

WEBINAR REGISTRATION

I’d iike to invite you to learn more about an exciting opportunity located in Bradenton Florida. Bradenton is next to Sarasota for those of you who are familiar with Florida. This market has an industrial moratorium that is driving one asset class to new heights, specifically light industrial. This 35 acre property, right in the middle of Bradenton has an existing Charter School on 11 of those acres and 24 acres of land that we are developing.  We are hosting a webinar on Wednesday October 8 at 7PM Eastern time. This opportunity is only open to accredited investors res...

WEBINAR REGISTRATION

On today's show I'm speaking with Jack Tucker on why there is an acute shortage of industrial land in Bradenton Florida.

-----------------

**Real Estate Espresso Podcast:**
 Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1)  
 iTunes: [The Real Estate Espresso Podcast](https://podcasts.apple.com/ca/podcast/the-real-estate-espresso-podcast/id1340482613)  
 Website: [www.victorjm.com](http://www.victorjm.com)  
 LinkedIn: [Victor Menasce](http://www.linkedin.com/in/vmenasce)  
 YouTube: [The Real Estate Espresso Podcast](http://www.youtube.c...

Bradenton Industrial Webinar

-----------

I’d like to invite you to learn more about an exciting opportunity located in Bradenton Florida. Bradenton is next to Sarasota for those of you who are familiar with Florida. This market has an industrial moratorium that is driving one asset class to new heights, specifically light industrial. This 35 are property, right in the middle of Bradenton has an existing Charter School on 11 of those acres and 24 acres of land that we are developing.  We are hosting a webinar on Wednesday October 8 at 7PM Eastern time. This opportunity is only ope...

Samuel Morgan Wiseman is based in Scottsdale Arizona where he is a principal at Protopian Capital. On today's show we are talking about how to structure deals involving blended capital from private foundations as part of the capital structure. To connect with Samuel or to learn more, visit https://protopiancapital.com/

---------------

**Real Estate Espresso Podcast:**
 Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1)  
 iTunes: [The Real Estate Espresso Podcast](https://podcasts.apple.com/ca/podcast/the-real-estate-espresso-podcast/id1340482613)  
 Website: [www.v...

Ben Reinberg is based in Newport Beach. He specializes in industrial and in medical office. On today's show we are talking about the factors influencing medical office. To learn more and to connect with Ben, visit https://www.alliancecgc.com/ or visit his personal website at https://www.benreinberg.com/

-------------

**Real Estate Espresso Podcast:**
 Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1)  
 iTunes: [The Real Estate Espresso Podcast](https://podcasts.apple.com/ca/podcast/the-real-estate-espresso-podcast/id1340482613)  
 Website: [www.victo...

Bradenton Webinar Registration⁠

 I’d iike to invite you to learn more about an exciting opportunity located in Bradenton Florida. Bradenton is next to Sarasota for those of you who are familiar with Florida. This market has an industrial moratorium that is driving one asset class to new heights, specifically light industrial. This 35 are property, right in the middle of Bradenton has an existing Charter School on 11 of those acres and 24 acres of land that we are developing.  We are hosting a webinar on Wednesday October 8 at 7PM Eastern time. This opportunity is only open to accredited invest...

Bradenton Webinar Registration

 I’d iike to invite you to learn more about an exciting opportunity located in Bradenton Florida. Bradenton is next to Sarasota for those of you who are familiar with Florida. This market has an industrial moratorium that is driving one asset class to new heights, specifically light industrial. This 35 are property, right in the middle of Bradenton has an existing Charter School on 11 of those acres and 24 acres of land that we are developing.  We are hosting a webinar on Wednesday October 8 at 7PM Eastern time. This opportunity is only open to accredited inve...

Our book this month is the second book in a two part series. The first book is called "The War of Art" by Stephen Pressfield. The second book is Turning Pro. You can think of the first book as the statement of the problem and the second book as the solution. 

The relationship between Steven Pressfield's "The War of Art" and "Turning Pro" is best understood as a two-part guide to the creative process: one book identifies the problem, and the other provides the solution.

-------------

**Real Estate Espresso Podcast:**
 Spotify: [The Re...

On today’s show we are talking about scarcity through zoning. I often have discussions with investors about whether things should be easy or not. If it’s easy, anyone can do it. The barrier to entry is low and eventually the market will become saturated. 

We see this regularly in cities like Houston where there are no zoning restrictions. This means you can put anything anywhere, and people do. For the most part, the market forces seem to take care of things and common sense generally prevails. But if you wanted to put a daycare next to an...

On today’s show we are looking at what is happening in precious metals and the narrative attached to these recent record setting prices.

This past week gold has hit new all time record highs of just above $3800. Price peaked at $3820 an ounce, surging nearly $40 an ounce in the opening moments of trading on Monday morning. So far gold is up 10% in the last 30 days and up 41% in the past year. 

Of course the purists out there will probably argue that gold has not risen. It’s the dollar that has fallen in reference to gold...

Marcy Sagel is based in Baltimore, Maryland where she runs MSA Interiors. Her firm specializes in design of multi-family apartment projects nationwide. She is working at a very high level with some of the most notable developers in the nation. To connect with Marcy, visit https://msainteriors.com/

--------------
**Real Estate Espresso Podcast:**
 Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1)  
 iTunes: [The Real Estate Espresso Podcast](https://podcasts.apple.com/ca/podcast/the-real-estate-espresso-podcast/id1340482613)  
 Website: [www.victorjm.com](http://www.v...

Shane Pogue is based in Dallas Texas where is specializes in Investigative Due Diligence. He helps investors with their due diligence process. To connect with Shane, reach out to him on LinkedIn at https://www.linkedin.com/in/shane-pogue-6b900a11a/

--------------

**Real Estate Espresso Podcast:**
 Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1)  
 iTunes: [The Real Estate Espresso Podcast](https://podcasts.apple.com/ca/podcast/the-real-estate-espresso-podcast/id1340482613)  
 Website: [www.victorjm.com](http://www.victorjm.com)  
 LinkedIn: [Victor...

I’d like to invite you to our upcoming Build To Scale Mastermind Nov 9-13 in Tulum Mexico. This exclusive four day event is for you to learn how to scale your business and your life. This is an opportunity for you to spend 4 high quality days with the leadership at Y Street Capital and take your investing business to the next level. To learn more, click HERE.

------------

On today’s show we are looking at the value of a piece of property that has a rail connection on it. 

When it comes...

Join us at the Build To Scale Mastermind in Tulum Mexico on November 9-13. This is an opportunity to spend 4 high quality days with the leadership at Y Street Capital and learn how to scale your business and your life. Click HERE to find out more.

--------------

The office apocalypse has been felt across most major markets worldwide. The impact of the pandemic was to reduce the need for conventional office space. There are still people working from home who were in an office environment in 2019. But slowly, demand for conventional office space is normalizing...

On today’s show we are talking about how to reduce the cost of construction. Is it worth your time to look for savings in a construction project, or should you just accept that things cost more? On one of our projects we have been going through a value engineering exercise. This is where you look closely at the design specifications and find ways to save money in the project without compromising the end product. 

You can sometimes face escalating costs because of the assumptions being made in the project. Our team has been meeting twice a wee...

On today show, we are talking about the impact of the newly announced $100,000 fee associated with the H1B visa to the United States. 

According to my research, historically the United States had admitted 65,000 H1 B visas per year with an additional 20,000 visa for those holding advanced US degrees.

Anytime there is a major policy shift. The marketplace will adapt and find a new way to optimize the allocation of talent. Silicon Valley was cited as one of the Main reasons for the policy change.

The tech industry has seen s...

There is a seismic shift—not in real estate, but in a sector that will fundamentally reshape how we think about how health care services are delivered. 

That in turn will have an impact on the needs for real estate in a health care setting.

Family medicine has evolved. When I was a child, the family doctor was a self employed professional. Their office had one name on the door, and behind the waiting room was a sliding glass window for the receptionist, who often also doubled as the doctor’s assistant. That model is compl...

Jon Ostenson is based in Atlanta, Georgia where he specializes in brokering business. On today's show we are talking about businesses the break the franchising stereotype. Many are complementary to real estate investments. To connect with Jon and to learn more, visit https://franbridgeconsulting.com/

--------------

**Real Estate Espresso Podcast:**
 Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1)  
 iTunes: [The Real Estate Espresso Podcast](https://podcasts.apple.com/ca/podcast/the-real-estate-espresso-podcast/id1340482613)  
 Website: [www.victorjm.com](http://www.victorjm.com...

Chuck Cuda is focused on redevelopment of deeply distressed inner city retail projects in the Kansas City area. The focus is on value creation and removal of blight. This is a strategy that could be viable in most US cities.

To connect with Chuck and to learn more, visit https://opescre.com/ or email him directly at cuda@opescre.com. Also check out his new book "The Ego Strength" available on Amazon.

-----------

**Real Estate Espresso Podcast:**
 Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8j...

On today’s show we talking about the role a general contractor. On a large project there are a lot of moving parts. There can be several subcontractors working at the same time on different aspects of the project. You can have plumbers in one building, electricians in another, windows being installed in another, and exterior cladding being installed with telescoping lifts. At the same time you can have drywall, painting and finishing happening in other parts of the project. There is just a lot going on. 

A big part of the job of the general contractor is...

On today’s show we are going to take a look at the Federal Reserve’s announcement on Wednesday of this week. There has been lots covered about this on virtually every news channel.  What I'm covering hopefully is different from what you might be hearing.

All eyes were on the Federal Reserve today. But the Bank of Canada also cut their key lending rate by 0.25% today bringing the Canadian central bank’s rate down to 2.5%. Most Canadian banks followed the rate announcement with a cut to their prime lending rate of 0.25% down to 4.7%. This is the rate th...

Today is another AMA episode (Ask Me Anything). Our question comes from Greg who writes:

After listening to your recent segment on oil production data, it does not seem any data from the US government is accurate. We’ve known for a long time the jobs data is flawed. It would seem there are much better ways of collecting data. Is this simple incompetence or are there anterior motives for publishing bad data; additionally, is the data from other developed nations this bad? 

Thank you for your insight. Love the show.

--------------

...

On today’s show we are looking to connect the dots between new home construction, demand for lumber, and home sales. We are answering the question, Is this a possible boom for new rental properties? 

So here we are going into the fourth quarter with several headwinds and a couple of tailwinds. If you are looking to start a construction project, this might be an excellent time. Construction labor are looking for work in many markets and will price their labor more aggressively. Labor has become the dominant cost in many projects. Material prices are falling in som...

We have seen some spectacular revisions in economic data over the past couple of years. We've seen it in labor data, gross domestic product, inflation. These revisions are continuing to come. This time it's in the oil markets. The narratives are failing to explain what's happening behind the scenes. On top of that, the numbers are just plain wrong.

For example US growth in oil demand was underestimated by a factor of 4 by the IEA. Mexico's oil consumption has been under-reported by 100,000 barrels a day for the last five years. The US oil consumption was off by 350...

Fahad Farhat is based in Toronto where he specializes in luxury short term rentals. This conversation breaks the mold on what you think of short term rentals. He manages more than $30M of properties in Florida, Vegas, Muskoka, Toronto and several other key locations.

To connect with Fahad, visit ffrealtor on Instagram or visit his website at artofgreatness.co.

------------

**Real Estate Espresso Podcast:**
 Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1)  
 iTunes: [The Real Estate Espresso Podcast](htt...

Aleksey Chernobelskiy is based in Phoenix Arizona where he is the principal at GPLPMatch.com. He brings a vast experience managing multi-billion dollar portfolios. Today, his new venture is adding value by providing a matching service between accredited investors and investment offerings where only the offerings that match the investor's selection criteria are presented. This helps reduce the noise that is so pervasive in the investing community.

To connect with Aleksey, visit GPLPMatch.com or email him directly at Aleksey@gplpmatch.com.

-------------

**Real Estate Espresso Podcast:**
 Spotify: [The Real Estate Espresso P...

On today’s show we are talking about the design of a multi-unit building on a property that was originally designed for a single family home. There are many urban infill opportunities in major cities across North America. Earlier this week I was looking at a property for a consulting client that has the potential to be redeveloped from a single family home to a six unit apartment building. On today’s show I’m going to take you through the thinking of how we analyze this property to determine the basic feasibility. There are many aspects to this. There...

On today’s show we are looking at the top five mistakes that rookie investors make when it comes to projects that have a construction component.

1. Failing to sync the construction contract and the lending terms

2. Failing to budget for pre-purchased materials that will not be included in construction draws until much later

3. Failing to bond over offsite improvements

4. Making sure you have the right type of construction contract for your project.

5. Making early design decisions that cascade a trail of increased costs in the project.

--------------

When you listen to J Powell speak from the podium at the FOMC meeting he typically talks about managing the Fed’s dual mandate to maintain price stability and to maximize employment. The past several years have been focused on taming inflation. Core PCE inflation measured 0.3% for the past two months June and July. We will get the August report on Sept 26. On an annualized basis Core PCE inflation remains pretty sticky at 2.9%. This is higher than the Fed’s 2% target. It’s not zero, and it’s not runaway  inflation either. I don’t even get into the debate abou...

My wife and I just came back from a 7 day cruise from Seward Alaska to Vancouver in Canada. One of the stops was a port of call created specifically for the cruising industry called Icy Strait Point. This port is built into the side of an island off the coast of Alaska. Most people on the ship would have enjoyed the fresh cooked salmon, and marvelled at the numerous souvenir shops sprinkled throughout this manufactured village. I on the other hand looked at it through the lens of a real estate investment. 

Cruise lines are often looking f...

On today’s show we are taking a deep look at my forecast for the US economy over the next few years. What I’m about to share is not getting covered by the mainstream media as far as I can see. 

If we look through history, we know that economic growth and population growth are linked. It’s not that population growth alone is the cause of economic growth. It’s not enough by itself. But we know that you cannot have one without the other.

The US population is now shrinking for the first tim...

Mark Shuler is a practicing architect in Seattle Washington, now for more than 40 years. He started investing post 2008 and today is has more the 4,000 units under management. Today Mark is concentrated in Houston. We're talking investment thesis and how it's evolving in the Houston market in particular.

To connect with Mark, visit sgreinvestments.com or email him at investor@sgreinvements.com.

------------

**Real Estate Espresso Podcast:**
 Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1)  
 iTunes: [The Real Estate Esp...