Inflation is Structural

On today show we are looking at whether the most recent economic figures are an indication of a trend, or a false flag? We are going to be looking at the inflation metrics and looking at the constituent elements to determine whether inflation has peaked. Will the Fed...

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AMA – Differentiated Digging

Today is a part 2 response to last Friday’s AMA episode. Last Friday Joseph from Boulder Colorado asked a question about systems and software for his company that almost accidentally got into the excavation business. For a complete context, you may want to listen to...

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Mark Pattison

Mark Pattison is based in San Diego where he is engaged in development projects and a growing portfolio of multi-family apartments. On today's show we're talking about opportunity zones that can be a diamond in the rough.  Mark also hosts a podcast called the "Mark...

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Brett Swarts

Brett is based in Sacramento California where he helps investors nationwide with tax deferral strategies using the Deferred Sales Trust. To connect with Brett or to learn more, visit capitalgainstaxsolutions.com ----------------- Host: Victor Menasce email:...

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AMA – Software and Systems

Joseph in Boulder Colorado writes: Thank you for all you do.  Your podcast is a real treat and we get so much from it. At the beginning of the year, I wrote you an AMA about how to best serve our community, as an investor, after the devastating fires near Boulder...

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Selective Statistics

On today’s show we are talking about the most recent employment report that was published on Friday of last week. You’ve no doubt heard the saying that you can use statistics selectively to make just about any argument. On today’s show we are going to take a more...

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Walking Away From The Deal

On today’s show we’re talking about one of the patterns that has emerged with new home buyers. The typical scenario with a new home or condo purchase involves signing a purchase agreement, several months, sometimes a year in advance of the actual delivery date of the...

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Inflation Reduction Act

On today’s show we’re talking about the new Inflation Reduction Act just passed by the US Senate and sent to the Congress for a vote. Anytime a piece of legislation comprising nearly $1/2T of new spending is tabled, I think it is worth spending at least five minutes...

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Will The Dollar Survive?

On today's show we're talking about the steps and implications of China's rise to commercial dominance and the possibility of international transactions being subject to Chinese central government oversight. -------------------- Host: Victor Menasce email:...

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Kim Hopkins

Kim is one of the principals at Iron Peak Properties where they specialize in multi-tenant industrial buildings. This is a narrow segment of the industrial space and one that offers strong resilience against economic cycles. To connect with  Kim and to learn more...

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Dave Dubeau

Dave Dubeau is a real estate investor who also owns a boutique digital marketing agency. He has two different podcasts aimed at two different audiences. He uses a podcast to maintain a conversation with his clients and prospective clients.  His latest podcast is...

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Six Months From Now

On today’s show we’re talking about who will want to sell in today’s environment. There are a lot of mixed signals happening in the market. There are those who are acting as if nothing has changed in the last 120 days. On the other hand, there are those who absolutely...

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AMA – Developing An Assembly

Today’s question comes from Cody who asks: I've assembled several adjacent acres consisting of multiple property types in a prime area. What's your experience in this? Is it better to develop the land complete and sell lots / pads or sell the assembled package to a...

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Counter Party Income Risk

On today’s show we’re talking about a different form of counter party risk. When we speak about counter party risk, we are usually having a discussion about the balance sheet. One person’s asset is another person’s liability. The quality of the asset is strictly...

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Energy Mirage

On today's show we're talking about the mixed signals we're getting from energy markets. The narrative in the mainstream media concerning energy is outright misleading. It's a political narrative that is disconnected from the facts and the true supply / demand...

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George Ross on Market Cycle

On today's show George Ross and I are talking about negotiating in today's turbulent environment. He brings a perspective that few others have after many decades in real estate and having lived through numerous market cycles.  --------------------- Host: Victor...

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Handling Sticker Shock

On today’s show we’re talking about the mental game of handling sticker shock. It doesn’t matter how often I remind myself that a high quote from a subcontractor is nothing more than a high quote. I still experience an emotional reaction. It takes some time to work...

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The New Definition of Recession

I listened to Jerome Powell’s entire remarks yesterday after the end of the two FOMC meetings which ended on Wednesday. Chairman Powell said some things in his press conference that were astounding. But the most stunning statement from Jerome Powell was the flat...

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Skewed Metrics

The Wall Street Journal published an article this week in collaboration with realtor.com where they ranked 300 communities across the United States based on a set of criteria. The purpose of the ranking is somehow tied to their prediction of those communities offering...

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Crisis of Confidence

On today’s show we’re talking about factors that could signal global instability and a crisis of confidence in our financial system. What happens if the Fed was to loosen monetary policy before actually beating inflation? This is a realistic scenario that many...

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Emotional Investing

On today’s show we’re talking about emotional investing. We are emotional creatures who often make emotional decisions. The old adage is to buy low and sell high. But left to our own emotional devices unchecked, humans are inclined to buy high and sell low. Humans are...

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Unexpected Episode

Today’s show is not what I was expecting to publish today. I’m here in the heart of Rome Italy. I’m one block from piazza del Popolo with its ancient Egyptian obelisk at the center of public square. It’s two blocks from Villa Borghese the gardens that were transformed...

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Garrett Moore

Garrett Moore is the founder and CEO of Agorus in San Diego where they have developed new technology to focus on new home design integration and new home construction automation. Today's show addresses the obstacles and the opportunities to improving the efficiency of...

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The Slippery Slope

On today’s show we are talking about managing projects. In particular, there is a disease in project management which I call one week itis. This is where a project is delayed by one week every week. Today’s show is a cautionary tale in which I’m going to describe a...

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Integrated Investor Relations Management Software

On today’s show we’re talking about why you might want investor relations management software in your company. Whenever you have a relationship with investors, there is a lot of information to manage and to distribute. You have a fiduciary duty to protect your...

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AMA – Did I Overpay?

Today’s question comes from Eric in Dallas Texas. I am invested in a value add apartment building that closed in the first quarter of this year. It’s a C-class asset, purchased at a 5% cap rate. I am on a variable rate bridge loan and have not yet converted to...

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Don’t Abuse The Money

On today’s show we are talking about regulation. Cities have a habit of making short term decisions to help citizens. But when they create an environment that discourages investment, they are making a long term decision to reduce supply in the market which ultimately...

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Multi Generational Housing

On today’s show we are taking a look at why the housing demand in the market has defied demographic predictions. In the wake of the great financial crisis many demographers were predicting that the large detached homes belonging to the parents would become dinosaurs...

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Brien Lundin

Brien Lundin is the chair of the New Orleans Investment Conference, the longest running investment conference in the world. He is also the editor and publisher of the Gold Newsletter. Brien is an expert in precious metals and commodities. On today's show we're talking...

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Garrett Sutton

Garrett Sutton is a corporate lawyer based in Reno Nevada. Garrett is famous as one of the Rich Dad advisors. His company corporate direct specializes in helping real estate investment companies with their corporate structures and maintenance of their corporate...

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Adapting To Rapid Change

On today’s show we’re talking about the impact of changes in the currency markets on global economic stability. We have endured supply chain disruptions as a result of the pandemic over the past two years. What I’m about to share could have an even larger impact than...

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Battling Inflation

On today’s show we’re talking about the coming economic winter. The US Commerce Department reported new inflation metrics for the month of June, showing that inflation metrics are accelerating. The official current inflation rate is running at 9.1% in the US. In...

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Highest Risk Counties

On today’s show we’re talking about the rising risk of defaults in the US residential real estate market. There is a real estate data company called ATTOM. They’re based in Irvine California. The specialize in correlating data from numerous sources to create data that...

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Inclusionary Zoning

On today’s show we’re talking about Inclusionary Zoning. This is a new term that you might not have heard before. Inclusionary zoning is code for building affordable housing. Many North American cities, including Vancouver, New York, San Francisco, and Boston have...

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Why Are Commodity Prices Falling?

On today’s show we are looking at what is going on in global commodity markets to try and understand what it means for our economy and how it will affect the domino chain of interdependencies throughout our economy. In the past two weeks we have seen a sharp drop in...

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Developing In A Downturn

Today's show was recorded live at the 20th annual Investor Summit on Sand on June 13 at the Mahogany Bay Village Hilton in Belize.  ----------------- Host: Victor Menasce email: podcast@victorjm.com

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Gene Trowbridge

Gene Trowbridge is based in Southern California, and practices securities law across the US. He specializes in helping syndicators produce compliant offerings when real estate investors work with money partners. On today's show Gene talks about the most common rookie...

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Cost Segregation

On today’s show we’re talking about cost segregation, accelerated depreciation and ultimately paying taxes. First of all, I’m not an accountant, and this show is not intended to be tax advice in any way. Always seek your own tax advice. Most investors know that you...

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Home Sales Are Slowing

On today’s show we are talking about the changes that are happening in residential real estate. What I’m about to share with you on today’s show is a stratification of the market into three main segments. Now what I’m sharing is not a scientific study. It’s the result...

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How to Buy Land

On today’s show we are talking about creating value with land. You’ve all heard the platitude: Location, location, location. Land value is definitely determined by location. But even more important than location is entitlement. When we look at land we are most...

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Stock Market Distortions

On today’s show we’re breaking down specifically how the low interest rate environment has translated into inflated asset prices in the stock market. Unless you’re deeply immersed in the system, it may not be obvious how and why that relationship has happened. We’re...

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Who Really Sets Interest Rates?

On today’s show we’re going to break down the lending market into its constituent components and examine each of them independently. The lender is the loan originator who underwrites the loan. The loan servicer is the one who collects the interest. The Investor set an...

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Rod Khleif

On today's show, Rod and I are talking about the market inflection point we are experiencing. Rod is also hosting a three day bootcamp in Denver at the end of July. To learn more about this three day event, visit rodindenver.com ------------------- Host: Victor...

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George Ross on Economy

On today's show we're talking about how to navigate the current economic uncertainty. George puts forth some risk reduction ideas that are pure gold. Listen to what he has to say.  ------------------- Host: Victor Menasce email:...

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BOM – “Fed Up” by Danielle DiMartino Booth

Our book this month is called “Fed up” by Danielle DiMartino Booth. Danielle worked at the federal reserve bank of Dallas for nine years where she ascended to the inner sanctum of those tasked with crafting Fed policy. Last month we reviewed Ben Bernanke’s newest...

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Crypto Counter Party Risk

On today’s show we are taking a look at counter party risk. This is a term that every investor should be familiar with. It’s an issue that we investors face on a daily basis. We are waiting for another transaction to close before a loan can be paid off. That’s counter...

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Tenants By Choice

In another sign that things are upside down in our current economy, rents are continuing to rise for single family homes. There is an acute shortage of homes for rent in a lot of primary markets. You might be wondering what is behind that incredible metric. In fact,...

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How Hard Is It To Start A Business?

We real estate investors are entrepreneurs. Every time we purchase a new asset, it’s like starting a new business. But if we’ve done it before, that new business is more like starting a new instance of a franchise than an outright new business. There are systems in...

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The Role Of Crypto In The Job Market

We have seen a large decrease in the value of crypto-currencies. That’s both bitcoin, etherium and the thousands of other coins out there that make up the eco-system. The question is, how has the crypto market influenced the labor market? We know that in 2020 and...

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Dana Samuelson

Dana Samuelson is a real expert when it comes to physical gold. On today's show we're talking about how physical gold can be an effective hedge against inflation. You can actually purchase physical gold from within the US at Dana's company American Gold Exchange. To...

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Robert Helms

Robert Helms is the host of The Real Estate Guys Radio Show, and the organizer of the annual Investor Summit, now in its 20th year. On today's show we're talking about how to make sense of the current economic environment.  ------------------ Host: Victor Menasce...

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Construction Chaos

On today’s show we are talking about bad behaviour in the world of construction. When you are building anything in the world of construction, whether it’s a light renovation or a high rise building, you will experience the full spectrum of responses from suppliers and...

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Stocks To Fall Further

On today’s show we are talking about my forecast for the stock market this year. Why are we talking about the stock market on a real estate investment podcast? Many investors are investors first and real estate investors second. I happen to be one of those people who...

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Digital Tokens For Real Estate

On today’s show we’re talking about the use of digital tokens for trading real estate. Over the past week I had numerous discussions with people making investments to create a digital token platform that would allow for the derivative trading of fractions of real...

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What Should I Do?

On today’s show we’re talking about a question that is on everyone’s mind. Construction prices are rising. Interest rates are rising. Not only are rates rising, but it looks like lender liquidity is shrinking. Rents are rising, but who knows for how long? Salaries are...

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Energy Insecurity

On today's show we're talking about energy insecurity and why we can expect to see continued high energy prices well into 2023. ------------------ Host: Victor Menasce email:...

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David Morris

David Morris is based in Birmingham, Alabama where he is part of the core team specializing in EQRP. They also have a construction manufacturing project that when completed will deliver high volume construction components into the home building industry. To learn more...

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Axel Monsaingeon

Axel Monsaingeon is based in Montreal Canada and is developing on Main Street in a small resort town North of the city. He purchased a building that burned to the ground a few weeks below closing and is dealing with the complexity of remediating what is now considered...

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How Many Houses Are Needed?

On today’s show we are talking about shifts in economic data that are coming fast and furious. The economic indicators are changing faster than at any time I can remember. In fact there are so many things happening right now that it was somewhat difficult to decide...

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Rising Cap Rate Risk

On today’s show we are looking at the question of whether value add strategies can be effective in an environment of rising interest rates. This realization came from a discussion with Ken McElroy, legendary investor and principal at the MC Companies. We went through...

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The Mortgage Market Is Cooling Off

The housing market has taken a huge hit this year as mortgage interest rates have surged and homeowners scale back on purchases. The latest casualties in the property technology world are Redfin and Compass, which both announced layoffs today that combined amounted to...

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Borrowing In A Rising Interest Rate Environment

On today’s show we’re talking about about how to navigate construction debt in the current rising interest rate environment. But before we talk about rising interest rates, we need to talk about the kind of debt you may want to use for your projects. There are so many...

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Apartment Conversion Math

We’re going to look at a sale offer of a commercial office building and we’re going to dissect the viability of this offer. The seller in this case is offering to sell a property that has an as-is appraisal for nine million dollars from a major brand name commercial...

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Isabel Guarino Smith

Isabel is based in Phoenix Arizona where she owns and operates a portfolio of residential assisted living homes. She also runs the RAL Academy which has trained thousands of owners and operators how to develop and run successful residential care homes across the...

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Noel Walton

Noel Walton is based in Killeen Texas, home of the US Army's Fort Hood where he and his colleagues have formed "The Joint Chiefs of Real Estate" (JCORE). They are investing in multi-family assets and are bringing military discipline to the world of real estate...

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Problems, Problems, Problems

On today’s show we’re talking about how this business looks easy from the outside. I had dinner with an investor last night and they kept marvelling at how easy we made these huge projects look from the outside. Well, I’m here to tell you that nothing could be further...

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Investing In A Downturn

On today’s show we are talking about how to navigate economic cycles. In a rising market, everyone looks like a genius. The rising tide lifts all boats and celebrations abound each passing month. Some of that is real wealth creation, and some is paper wealth creation...

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Do Valuation Methods Still Apply?

There are numerous articles out there in the mainstream media ranging from the Wall Street Journal to Fortune Magazine stating that we are now in a completely different market compared with the past two years. The articles then go on to assert that we cannot rely on...

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Taming Irrational Exuberance

On today’s show we are talking about leverage and the impact of rising interest rates on apartment owners. Leverage in any transaction can be your friend and it can also bankrupt you.if you are over leveraged. Many investors have been betting on inflation continuing...

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Should I Buy That 30 Unit Building?

On today’s show we are discussing a question that I get very frequently. So I’m not going to attribute the question to any single listener. The question is whether: A three story 30 unit apartment building with below market rent is a good purchase to reposition and...

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Emma Powell

Emma Powell is based in Salt Lake City Utah where she runs a multi-family investment club that had its roots in the syndication business. Yo connect with Emma visit http://highrise.group. You will definitely want to hear this fascinating perspective on another way to...

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Loe Hornbuckle

Loe Hornbuckle is based in Dallas Texas where he leads the Sage Oak group of Assisted Living and Memory Care homes. Loe is a business partner of mine in the assisted living business and on today's show we're talking about the lessons learned between generations of new...

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AMA – Duplex with no Permits

Today's question comes from Atisha in Philadelphia. I was blind-sided with the news that my recently bought two-family home is legally a SINGLE FAMILY dwelling. I closed on the home in November of last year. It appraised for $300,000. I live in one unit and rent out...

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Why The Fed Wants People To Lose Their Jobs

On today’s show we are talking about why interest rates will continue to rise until more people lose their jobs. It sounds strange to say this, but the Fed wants to see people lose their jobs. On today’s show I’m going to describe why that is. On yesterday’s show we...

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BOM – 21st Century Monetary Policy by Ben Bernanke

I met G Edward Griffin about six years ago. He’s a documentary film maker who wrote the book “The Creature From Jeckyll Island “ This book is a historical account of the formation of the federal reserve back in 1913 and the clandestine manner in which the Fed was...

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Is Globalization Dying?

On today’s show we are looking at the question of whether globalization is dead. The conflict in the Ukraine has made it clear that some global supply relationships may be severed for years to come. The rise of China’s power and influence globally has given some...

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Building Ahead of Demand

On today’s show we are talking about getting ahead of demand. We have seen many businesses anticipate continuing growth and no changes to market conditions. It happens in virtually every Industry. Even the most analytical companies in the world can get it wrong. We...

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Fabian Fraser

Fabian Fraser is a big city guy who moved to a small city and discovered opportunity for multi-family investment in unexpected places. On today's show we're taking a look at how affordability has pushed people to smaller communities where the vacancy rate has been...

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Sandhya Seshadry

Sandhya Seshadry is based in Dallas Texas where she specializes in repositioning multi-family apartment complexes. She too made the transition from the world of micro-chip design into the world of real estate investing. To connect or to learn more, visit...

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Interest Rate Mania

It seems like we can’t go more than a few days without talking about inflation or interest rates. On today’s show we’re taking another look at how interest rate policy can be effective at fighting inflation, and where higher interest rates will make no difference at...

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How Quickly Do You Make A Decision?

On today’s show we’re examining why the stock market has fallen so quickly. If you go back to 2008 and 2009, when the market conditions changed in real estate, why did prices seem to drop quickly? It turns out that when you make a decision to purchase any investment,...

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A Nickel Is A Nickel. Or Is It?

On today’s show we are going to take a fresh look a money. It used to be the case that a nickel was a nickel was a nickel. It was made of nickel. It was worth 5 cents and you could buy bubble-gum with it or take a short bus ride. But today we are taking a dive into...

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Falling Lumber Prices

On today’s show we are taking a look at what is happening with construction materials and how this might affect construction projects that you have in your current plans for this year. In the past two months we have seen lumber prices fall from their peak in March of...

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A Train Wreck In Slow Motion

On today’s show we are talking about resilience in our daily lives. This past weekend my home city of Ottawa Canada has a line of summer thunderstorms come through the region. It was a few degrees warmer than usual and a bit on the humid side. By mid afternoon the sky...

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Brandon Schwab

Brandon Schwab is based in Chicago where he specializes in boutique assisted living. We too are developers of boutique assisted living and it was good to compare notes. It seems that parts of the US are significantly under-served with this class of product. To learn...

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Tom Dunkel

Tom Dunkel is based in Wayne Pennsylvania where he specializes in self storage turnarounds along the East coast of the US. This is an asset class that requires strong systems and his background in corporate mergers and acquisitions has proven to be a distinct...

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How To Fight Inflation

On today’s show we are taking a look at how to fight inflation and the various efforts underway in Washington and other capitals around the world. Yesterday the national association of realtors published statistics for home sales in the month of April. Sales in April...

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Some Cities Are Dying of Thirst

On today’s show we are looking at what is looming as a water crisis in parts of the United States. It should not be a surprise to anyone that building a city in a desert is a bad idea. We all need water to live and water shortages will forever alter the usefulness and...

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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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