A Growing Nation of Renters?

Earlier this week we looked at the difference between an owner occupant versus an institutional owner. We asked if is it true that homes cost the same to operated regardless whether the owner is an individual or a corporate investor? We concluded that the costs were...

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More People Are Coming Back To Work

A number of people exited the workforce during the pandemic. That reduction in workforce participation is largely credited with the worker shortage. Some people chose to retire altogether. We have seen a big reduction in the participation in the workforce. People...

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Are Institutions Harming The Market?

On today’s show we are talking about the merits of large scale landlords on the housing market. The affordable housing advocates are highly critical of institutional buyers removing inventory from the market by competing with buyers for single family homes. These big...

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Nathaniel Pitchon Getzels

Nathaniel comes from Los Angeles where he specializes in luxury properties in the celebrity segment of the market. On today's show we talk about how the celebrity segment of the market differs from other segments in the market. To connect with Nathaniel, please visit...

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RJ Burr

RJ Burr is with Panther Exploration, an oil and gas exploration company based in Bowling Green Kentucky. The entire Burr family are deeply entrenched in the oil industry. Today's conversation centers around the prediction that oil prices are likely to remain elevated...

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Bulls Versus Bears

On today’s show we’re talking about market valuation and the narrative that investors attach to prices. The daily headlines are about the latest stock market bloodbath. We hear terms like bullish and bearish. Some people I know have earned the nickname perma-bear to...

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Energy Efficiency Is Back In Fashion

On today’s show we talking about the impact of energy policy on housing. The fact remains, the US has underinvested in oil and gas since 2015. Despite the high prices currently in the market, the number of new wells being drilled is not quite enough to keep production...

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AMA – High Pressure Wholesale Transaction

Today’s show is another AMA episode (Ask Me Anything). Today's question comes from John who asks: I have an acquaintance who has a land assembly under contract that has development potential. The assembly consists of two properties on a main street with close...

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Office To Residential Conversion

On today’s show we’re talking about changing the use of real estate in the downtown core in many cities. It’s no secret that the world is swimming in excess office space since the start of the pandemic. I’ve been involved in direct discussions on several major office...

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Are Market Conditions Changing?

On today's show we’re taking a look at the extent to which our housing market is completely addicted and driven by the availability of debt. There are some powerful lessons to be learned from the financial crisis of 2008. It was the near insolvency of thousands of...

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Brian Scudamore

Brian Scudamore is a living legend in the world of entrepreneurship. He's the founder of 1-800-GOT-JUNK, and WOW 1 Day Painting, and Shack Shine. His brands are world renowned in their segments. He has taken the ordinary and figured out how to create exceptional. ...

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Kim Radaker Bays

Kim Radaker Bays is based in Dallas Ft Worth where she runs the Exponential Property Group having invested in approximately 10,000 apartments since inception a little over a decade ago. On today's show we're talking about managing risk in today's rapidly changing...

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A Category of One

On today’s show we are talking about how to design a product for the market when the spreadsheet is telling you otherwise. We’re developing a storage facility in a tertiary market up in the Rocky Mountains. Most of the existing storage facilities in town are older and...

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The Fed Increases Interest Rates Again

On today’s show we are talking a deeper look at the rising interest rate environment and making sense of the current market conditions. Yields on the 5 and 10 year treasury have advanced faster than the actual rate increase. Bond investors are clearly looking into the...

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The Entire Industry Is On Strike

When I was a teenager growing up, my parents used to listen to the nightly news on the radio at 6PM every day during our dinner hour. That was in the late 1970’s and early 1980’s. Inflation was out of control. There was fuel rationing across the US and lineups around...

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Refreshing The Financial Model For Existing Assets

You own a property that has been performing reasonably well for a number of years. But let’s face it, a few things have happened in the past 24 months. We’ve gone through a protracted pandemic, we have experienced supply chain disruptions, and a substantial period of...

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Timing The Market

On today’s show we are talking about how to time the market. This is a question that I often get from listeners. It’s also an argument that I hear from those who see value in staying invested in the stock market. They say that all you need to do is time the market....

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BOM – War Without Rules

Given the momentous global geopolitical changes that have become apparent this year with the invasion of the Ukraine, I felt it was important to study these relationships so that I would see the world from a more informed perspective. I want to be clear, I’m not a...

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Brandon Cobb

Brandon Cobb is based in Nashville where he specializes in affordable new home construction. Affordable housing is a topic that is making headlines almost daily. To connect with Brandon visit hbgcapital.net where you will find numerous resources that you may find...

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It’s Official. The Economy Is Shrinking

It’s official. The economy is shrinking The Commerce department announced yesterday that the economy shrank 1.4% in Q1. This is no surprise. If you’ve been listening to this show for a while, you know that I have been calling out the economic contraction for some...

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Marrying Your Cat?

Today’s show starts with the story of Deborah Hodge who recently married her cat, India, in a loophole scheme to avoid rental restrictions, which have barred Hodge from bringing animals into the unit. The 49-year-old woman from London devised a plan to marry her cat...

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Signs of Economic Slowdown Are Mounting

On today’s show we are talking about more signs of economic slowdown. Last week I made the assertion that we are already in economic contraction and further postulated that because we are in an inflationary environment, we are in fact experiencing a period of...

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The Home Affordability Crisis

On today’s show we are talking about the long term implications of the home affordability crisis. Ownership of real estate is expensive and the cost is rising faster than incomes are increasing. Back in the late 1970’s when had the last major bout of inflation, there...

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Impact of Globalization

Any time there are changes, there are winners and losers. Is there an anti-globalization trend?  On today’s show we are talking about globalization. We have experienced nearly five decades of globalization. Commodities like oil, wood and minerals have long trades...

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George Ross on Cap Rates

On today's show we're getting George's perspective on how to evaluate investments, independent of what's happening in the current market conditions. I was not expecting his answer, but it makes sense. At 94 years of age, he's one of the wisest men I know. Enjoy......

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Jake Marmulstein

Jake Marmulstein is the CEO of Groundbreaker in Chicago, Illinois. This software company develops and markets an online platform for syndicators to manage their marketing, customer relationships, and investor relations. Anyone who has investors needs a platform like...

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What Will Cause The Next Financial Crisis?

If we have learned anything in the past two years, it’s that our world is interconnected more than ever before. Countries that are close trading partners are rarely insulated from each other. In Canada we have a saying that when the US economy sneezes, Canada catches...

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Our Economy Is In Recession

On today's show I'm making what I believe is a convincing argument that our economy is in recession despite what governments are calling a growing economy. Let me know if you agree with the thesis of my argument.  ------------------ Host: Victor Menasce email:...

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Hedonistic GDP

On today’s show we are talking about how to understand what the published measure of gross domestic product and how we measure inflation. Both are in fact misleading the voting public. The concept of gross domestic product is easy enough to understand. You add up all...

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AMA – Dense Urban Land Assembly

Today's question comes from Marc in Montreal who writes: We own a midtown Strip Mall where there is an adjoining property worth $1.3M which has 18 parking spots.  It has a restaurant on the property that will be shutting down in 6 months due to retirement.  A...

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Lisa Haisha

Today's show is a replay of an extraordinary conversation with Hollywood icon Lisa Haisha. She's an actor, a producer, a coach, a real estate investor, an entrepreneur. There are so many powerful lessons in today's conversation that I felt it was worth sharing again....

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Jake Harris

Jake Harris is based in Sacramento California. From there he is active in real estate projects across the nation. On today's show we're talking about his new book "Catching Knives". It chronicles understanding the difference between buying a bargain versus buying a...

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Lessons From Boy Scouts and Girl Guides

On today’s show we’re talking about what we can learn from the Boy Scouts and the Girl Guides. I was speaking with an investor this week who was placing an offer on an 80 unit apartment complex in a small town. We’re talking a town of 6,000 people where the nearest...

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AMA – CPACE Financing

Today’s question comes from Carlos in Los Angeles We are planning a 57-unit development student housing project at USC. We are now considering a relatively new product called C-PACE financing. The C-PACE financing + senior construction financing would achieve 85% Loan...

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Victor’s Interest Rate Prediction

The Federal Reserve has signaled that they’re going to be increasing the rates in 0.5% increments at the upcoming rate setting meetings. The market accordingly has priced in 0.5%, 0.5%, 0.5% for the next three meetings instead of ¼ ¼ ¼ as had been the previous...

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AMA – Tax Sheltered Property Sale

Today's question comes from Mike in Pennsylvania. He writes: Hi Victor, Thank you for your daily podcast! I find your show format insightful and your perspective extremely helpful. Our family has decided to sell a vacation rental we own on the coast of North Carolina...

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Canada Bans Foreign Buyers

This past week, the Federal government in Canada took the step of temporarily banning foreign purchase of residential real estate for two years. It’s no secret that real estate markets in Canada have been hot, much like in many markets in the US. On Today’s show we’re...

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Mark McGuire

Mark McGuire is based in Westchester Pennsylvania where he specializes in acquiring and improving self storage assets across multiple states. To connect with Mark, visit investingwithmark.com.  --------------------- Host: Victor Menasce email:...

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Alexandria Ali

Alexandria Ali hails from the Pacific NW where she is a real estate investor and a practicing nurse. Not only is she a practicing nurse, she is a traveling nurse who provides relief to hospitals that are searching for staff to manage staffing shortfalls. Today's show...

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To Infinity and Beyond

To infinity and beyond. That’s the line from the famous Pixar movie “Toy Story”. Here in the West we are concerned with climate change and the impact that our relentless consumption is having on the planet. We’re talking about some finite resources on our planet. But...

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Remote

A Bay Area startup just received a $300M funding round at a $3B valuation, triple its value from eight months ago.  San Francisco-based Remote Technologies Inc. helps businesses manage onboarding, payroll, benefits and other services for foreign workers that they...

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State Of The Union In Senior Housing

On today’s show we’re taking a closer look at what’s happening in the world of senior housing. The folks at Fannie Mae recently published a market update on the sector which we look closely at. We also follow the daily updates at Senior Housing News which report both...

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Investments To Park Cash

On today’s show we’re talking about market psychology. There are two principal emotions that drive investment decisions, fear and greed. Fear and greed usually sit at opposite ends of the spectrum when it comes to decision making. Greed propels people forward. Fear...

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Russia’s Gold Standard

Russia took a clever step last week to evade global sanctions, by attempting to peg its currency to gold.  Starting this week, the Russian central bank will pay a fixed price of 5,000 roubles ($52) per gram between March 28 and June 30, the bank said on Friday. This...

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Bascal Korkus

Bascal Korkus hails from Tampa Florida where he specializes in in-fill redevelopment. On today's show we're talking about the application of Web 3.0 technologies to real estate. To connect with Bascal, you can find him on social media and at korcf.com...

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Josh Ziegelbaum

Josh is based in Fort Lauderdale where he is part of the investor relations team for legacy-group.co. The company has invested heavily in Columbia where they are currently the #2 producer of specialty coffee in the nation with over 5,000 acres of coffee plantation...

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CBRE US Market Cap Rate Report

On today’s show we’re talking about a new report from commercial brokerage house CBRE on the state of cap rates across the United States. It comes as no surprise that cap rates have been compressing. Everyone knows that there is too much money in the system chasing...

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AMA – Default Notice From The Lender

Today’s question comes from Gonzalo in NYC First I’d like to thank you for all your insight and knowledge you share on your podcast and in your book. It’s both informative and inspiring. I exited a bridge loan 2 years ago in the middle of the pandemic. Because of the...

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AMA – Falling Home Builder Share Prices

Today’s question comes from Wayne in Mississippi I’m observing that the share prices for national home builders like DR Horton and Lennar are both down 29% and 28.5% respectively from their highs in December. Both companies are competitors and their stock prices seem...

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Crisis in Healthcare

On today’s show we are taking a look at what might be a looming crisis in health care. For years, many states have been facing a nursing shortage and it is only expected to get worse. It is predicted that the United States will need another 203,700 new RNs every year...

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George Ross on WW-II Comparison

On today's show we're discussing the parallels with the expansionist violence the world witnessed from 1939-1945. George was a teenager at that time and joined the army at the end of the war. Some investors have used the recent invasion of the Ukraine to pause their...

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Arleen Garza

Our guest this weekend is Arleen Garza from San Antonio. On today's show we're talking about the evolution from C-Class to B-Class to A-Class and most recently development. Love hearing about this journey to connect with Arleen, visit ReepEquity.com...

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When The Survey Is In Error

On today’s show we’re talking about an issue that surfaced after closing on a parcel of land. What we have experienced can happen on virtually any property, anywhere. Today’s show is being shared to help you strengthen your due diligence. ---------------- Host: Victor...

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The Insanity Continues

On today's show we're talking about a generic, nondescript townhouse selling for $191,000 above asking price in multiple offers. This is not a unique property, but yet the mismatch between demand and supply. How do we as developers make sense of market valuation as we...

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Nine Years And Counting

On today’s show we’re talking about the risks of community opposition in a development project. Sometimes these stories are so outlandish that I have to share them with you. The project in question is located at 450 O’Farrell Street in San Francisco. The development...

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When to Sell

On today’s show we are talking about when to take your chips off the table. We have seen a significant run up in prices over the past two years. The upward pressure seemingly has no end in sight. Yet we know intuitively and as students of history that the party is...

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Beware The Vacant Property Tax

Many cities are looking hard at how to regulate vacant properties. On today's show we're looking at the issues related to this type of government initiative. ------------------- Host: Victor Menasce email: podcast@victorjm.com

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Daniel Apke

Daniel Apke is based in Tampa Florida where he focuses on acquiring land on a large scale in multiple states. On today's show we're talking about the systems that David uses to conduct a high volume of acquisitions.  To connect with David and to learn more, visit...

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Open Banking

On today’s show we’re talking about open banking. If you’re in the banking industry and you’re part of their software development teams, you know all about open banking. But if you’re just a bank customer, you probably have not heard about this. Open banking is a set...

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Interest Rates And Economic Outlook

There is no question that interest rates are going to rise. If you have refinanced since the beginning of the year, you have already experienced this. The bank of Canada has raised interest rates already by 0.25% in the past month and the US federal reserve announced...

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World Reserve Currency Status

On today’s show we are talking about the world reserve currency. The USD became the world reserve currency in the wake of the Second World War with the international treaty signed in the mountains of New Hampshire called the Bretton Woods accord. This three week...

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Churn in Education

The pandemic has challenged a lot of assumptions about both markets and demographics. We used to assume that school enrollment would remain stable according to demographics, and would continue to grow if population was growing. But even as the pandemic is clearly...

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Distortions, Inflation, Recession

On today’s show we’re talking market distortions, inflation, and the coming recession. The headwaters of a recession can be found in a cycle of inventory hoarding. So on today’s show we’re going to look and see if the conditions exist for inventory hoarding or not. On...

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Live – Land Use Case Study

On today's show, we're in front of a live audience at The Real Estate Guys Secrets of Successful Syndication Conference in Dallas. Today's talk is a case study on the value multiplier that can be possible with the combination of annexation and entitlement. ...

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Josh McCallen

Josh McCallen is the CEO of Accountable Equity, the owner of the Renault Winery and a new property located on Kent Island, a few minutes from Annapolis Maryland. Josh and his team specialize in renovating resort properties and transforming them. His track record...

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AMA – Flight of Capital?

Today’s question comes from Vishal in Canada. Can we touch on the  flight of capital to US from Canada of wealthy families? If not, would you mind letting us know of what you think is happening and is it real or too far-fetched a possibility? Are you worried that we...

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Amazon’s Experiment

On today’s show we’re talking about using data to drive business decisions. Perhaps the best company in the world for using data driven decision making is Amazon. But what do you do when the data exists? You’re hoping to try something new in the market that hasn’t...

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AMA – Wellness Retreat

On todays show we’re answering a listener question that is a very common question. On today’s show rather than answering the question directly, this is the synopsis of a conversation that I had with this developer. I’m often approached by people who own land they...

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AMA – Bridge Financing A Renovation

Today’s question comes from Adam. I’m looking to reposition a four unit apartment building. The construction budget is $60,000 and we have a quote from a contractor. Construction material and labor prices seem to be changing regularly. The building is currently vacant...

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Derivative Markets

On today’s show we’re taking a look at markets that operate purely like their functioning primary markets, and comparing them with the secondary markets. Primary markets are essentially what it sounds like. If you want to buy tomatoes, you go to the farmer’s market...

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Special Guest Adam Hooper

Addam Hooper is the CEO and founder of RealCrowd.com. On today's show we're talking about multiple product offers being managed before you have a failure of complexity.  To connect with Adam, reach out at info@realcrowd.com or visit realcrowd.com --------------------...

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Ryan Webster

Ryan Webster is based in Iowa, but invests in several stable markets of the South East. You can connect with Ryan at EquityYieldGroup.com ------------------------ Podcast: Victor Menasce email:...

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Pragmatism Over Purity

On today’s show we’re talking about pragmatism. It’s easy as real estate investors to be idealistic and come up with solutions that are innovative and best in class. On today’s show we’re talking about a number of examples where complexity, or cost often force a...

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Interest Rates on the Rise

On today’s show we are talking about how interest rates are going up. It’s pretty clear that rates need to increase, but not for the reason that the central banks are publicly stating. The window continues for you to acquire debt under favourable terms. But that will...

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Security Camera Selection

On today’s show we’re talking about security. We all know that thefts can and do happen all over the country with alarming regularity. Sometimes, the thief gets caught in the act. But that’s pretty rare. A smart thief is pretty adept at doing their business when...

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BOM – “Traction” by Gino Wickman

On the first day of each month we review the book of the month. In order to be considered for book of the month, a book has to meet a simple criteria. It has to be impactful enough to change your life or your perspective on the world.  Our book this month is...

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Investors Want Predictability

Investors love things to be predictable. They want their investments to deliver above average returns with the safety and predictability of a government bond. But then the world experienced a pandemic, followed by a deluge of printed money, followed by supply chain...

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Omar Kahn

Omar Kahn is based in the Toronto suburb of Mississauga where he invests in commercial real estate in Hamilton, Ontario. The greater Toronto area remains one of the fastest growing communities in North America and affordability is driving people to the extremities. To...

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How Can I Influence World History?

On today’s show we are putting aside the usual weekend interview to talk about world events. This is not a political show, and I don’t intend to turn it into a political show. But it’s an important moment in world history and I feel like I need to say what is on my...

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When Fakers Lie To You

On today’s show we’re talking about doing business with people who are not real. We had a recent interaction with a seller who turned out to be a liar. Sadly, these situations exist with alarming regularity. The property in question was based in Houston. Since we are...

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Predictions, Predictions

On today’s show we’re talking about predictions. Predictions are rare for me. I don’t make them often. When I do, it’s because the data is clearly pointing to something that I can see that may not be obvious. Earlier this year on January 4, I predicted that the...

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A Day In The Life Of Due Diligence

On today’s show we’re going through the thinking process of how to assess whether you are evaluating a viable project or not. This was a property that we got under contract because it looked like it had potential at first. In this case we were presented with the...

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What is Stress?

On today’s show we are talking about stress. The dictionary defines stress as “a state of mental or emotional strain or tension resulting from adverse or very demanding circumstances.” I personally find that definition to be rather useless. Using a related word, or a...

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Beware of Reductionist Arguments

Today’s show is a commentary on the highly publicized Freedom Convoy protests that have gripped my home city of Ottawa Canada for the last 23 days. What I’m reporting is my own opinion based on my own observations and from first hand conversations that I have had with...

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Special Guest, Steve Beattie

Steve Beattie is the founder of Breathing in Nature. It sounds strange to say it, but Steve will teach you how to breath. Today's show is not about real estate, but how you can access you own internal faculties to achieve higher performance and greater health. Steve...

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Scott Meyers

Scott Meyers is a specialist in storage on a national basis. Not only is he an investor, he is an educator as well.  You can connect with Scott and learn more at selfstorageinvesting.com ------------------ Host: Victor Menasce email:...

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AMA – Highest and Best Use

Hi Victor, How does an investor or property owner identify the best use and development potential or highest long-term cash flow opportunity for a particular property? Last year, we purchased a 2 acre piece of land with over 400 feet of commercial road frontage in one...

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The New Super Power

On today’s show I’m going to share what I learned in my meeting with the Mayor. This was a quick trip down to Lake Charles Louisiana for the sole purpose of having lunch with Mayor Nic Hunter and the City Administrator. Three other team members came to the meeting...

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AMA – Ideal Internship

Today’s question comes from Aaron in Dallas I’m 32 years old and currently working as a physician assistant in the emergency room, but I have been wanting to do real estate investing full-time for the past three years. I have saved a few hundred thousand and want to...

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Overshoot

On today’s show we’re talking about overshoot. Overshoot is a phenomenon that exists in all kinds of systems. Overshoot exists in physics. Overshoot exists in individual behaviour. Overshoot therefore exists in markets. What is this overshoot that we’re talking about?...

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EU Regulators Struggle To Keep Up With Technology

On January 31, the European Supervisory Authority which oversee the European Banking Authority, The European Insurance and Pensions Authority and the European Securities and Markets Authority issued a position paper. The body issued a Joint European Supervisory...

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Jerome Myers

Jerome Myers is based in Greensboro North Carolina where he coaches students from across the country in how to grow their real estate investment business. To connect with Jerome, visit JeromeMyers.co ---------------------- Host: Victor Menasce email:...

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Preston Walls

Preston Walls grew up in a real estate family. Today, he builds medium sized apartment buildings in the heart of Seattle. Preston takes a hyper-local perspective to real estate and continues to thrive in an otherwise difficult market. To connect with Preston visits...

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Failure To Understand Cause And Effect

On today’s show we’re going to look at the insanity of cause and effect relationships that are being promoted in our economic system. I’m an engineer by training. When you look at systems in the physical world, they follow the laws of physics. Galileo understood these...

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Making It Easy To Listen

I’ve had a number of podcast guests and listeners ask about what it takes to be a guest on this show. On today’s show we’re going to look at two aspects of podcast recording. What I’m going to talk about is equally applicable to a radio show or even video. We are...

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The Latest Fannie Mae Research

On today’s show we’re taking a look at housing sentiment. The folks at Fannie Mae conduct some of the best research in the nation. The just published their housing sentiment survey for January 2022 and the results show some interesting feelings about real estate. The...

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AMA – The Lady In The Basement

This question comes from Jen in Bulgaria. She asks, I’m preparing to close on a house purchase that forms part of an attached dwelling. The basement apartment is a separate apartment and the lady who lives in the basement has been there nearly 50 years. The attic...

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