Will Sora Benefit Humanity?

On today’s show we are focusing on a change that is looming in the world of real estate marketing.  It’s well established that the average person has a hard time visualizing what their new home or perhaps their rental apartment will look like when fully furnished....

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Price’s Law

What type of organization do you want to work with? Are bigger organizations necessarily better? We’ve all heard of the Pareto Principle, this is sometimes called the 80/20 rule.  80% of the revenue comes from 20% of the customers. 80% of the complaints come from 20%...

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Why Is The Internet Broken?

On today’s show we’re talking about what’s wrong with today’s internet. You might be wondering why we are talking about technology on a real estate podcast. It’s because the internet is the primary source of information for real estate investors and developers. We’ve...

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Uncovering Alterior Motives with Chris Miles

Chris Miles comes from the world of life insurance sales. On today's show we're piercing the veil on some of the practices that are rampant in that industry that everyone needs to know about. To connect with Chris, visit moneyripples.com or check out his...

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Shopping Center Investing with Michael Flight

On today's show we're talking with Michael Flight. He's been investing retail since the early 1980's. We're talking today about the pressure points in retail. To connect with Michael or to learn more visit libertyfund.io. There are numerous...

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The Best Investment Structure

On today’s show we are talking about some of the structures out there, pooling of funds in a blind fund, or investing in an individual project. There are so many ways to invest. The question is, what are the pros and cons of one approach versus the other.  It really...

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The Taking (I Mean Donating) of Land

On today’s show we are talking about government taking land from you with what appears to be no compensation.  The concept of eminent domain is well entrenched in real estate law. It says that government can demand your land in exchange for just compensation if the...

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Making Sense of Conflicting Economic Data

On today’s show we are talking about making sense of the conflicting economic data that is being reported by different government departments.  Let’s start with GDP and then we will look at employment numbers, and finally we will look at inflation versus real...

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I Went To The Dark Side

I’m a real estate developer. I’m pro-development. I’ve had projects denied by city council as a result of community opposition. In every case, I’ve been shocked by the intensity of community opposition and truly felt that our project was designed to enhance the...

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Juan got Deported

On today’s show we’re talking about the immigration, migration, deportation, and human lives. Earlier this week I had a conversation with Juan. He’s Mexican and lived in Austin Texas from the age of 5 until the age of 27 when he was deported back to Mexico. Juan...

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Bronson Hill

Bronson Hill is based in Los Angeles California. On today's show we're talking about the shift that has taken place in the market over the past six months. To connect with Bronson, visit bronsonequity.com. -------------- Host: Victor Menasce email:...

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Special Guest George Ross

On today's show we're talking with George about some of the current events in the news and how this will affect real estate investors. ------------ Host: Victor Menasce email:...

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Are The Olympics The Pinnacle?

On today’s show we are talking about major international events and the impact on real estate from those events. Major cities have sought to host events like the Olympics, the World Expo, The world Cup of Soccer, The PanAm Games, the Commonwealth Games and so on. ...

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AMA – Empty Offices Means No Jobs

Today's question comes from Greg in Virginia who writes: Love the show. I am constantly amazed at your depth of knowledge. My AMA is: I’ve heard you and others state many commercial office buildings are not suited for conversion to apartments and would likely...

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Inclusionary Zoning

On today’s show we are talking about inclusionary zoning. This is a new initiative in many communities aimed at creating affordable housing.  The actual goal of inclusionary zoning varies from one community to another. In some locations there is a narrative that...

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The Bonus Is Back (Maybe)

US Federal politics might be appropriately described as legislative gridlock.  You can’t seem to get a single piece of legislation through the house and the senate on its own merits. These omnibus bills seem to get loaded up with dozens and sometimes hundreds of...

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A Shun Of The Bank, Not A Run On The Bank

A Shun of the bank is not the same as a run on the bank. But the effect can sometimes be the same.  The latest bank to suffer from the banking crisis that erupted last year is a name that most people might not remember. NY Community Bancorp announced their year end...

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Preferred Equity with Paul Moore

Paul Moore is the principal at Wellings Capital who are now on their sixth fund. Their latest fund is focused on preferred equity and on today's show we're talking about one company's take on how to use preferred equity effectively in deals. To connect...

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Land Banking with Dave Foster

Dave Foster is a specialist in tax deferred exchanges. You can connect with him at https://the1031investor.com. On today's show we are taking about where is the fuzzy line between capital gains treatment and ordinary business income treatment when in comes to...

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Rolling The Legal Dice

We often get questions from clients and even listeners to the podcast about the merits of a legal case. To be clear, we are not lawyers and the purpose of today’s show is not to provide legal advice in any way.  The purpose of today’s show is to illustrate the...

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AMA – How to Scale?

Today’s question comes from Ramon who writes: Dropping a quick note to thank you again for all that you do to make the RE Espresso amazing. I can’t imagine how much work it must be for you to consistently create such high-quality content. I hope you know how much...

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100 Million Vacant Square Feet

On today’s show we are talking about commercial real estate and office in particular.  The main stream media remain fixated on reporting the averages. They are focused on the bigger macro picture. For example last week the Wall Street Journal published a story all...

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Unintended Consequences

On today’s show we are taking another look at the world of energy and some of the disruptions that could result in major economic and geopolitical disruption far beyond the turbulence our world is currently facing.  Today’s show is about unintended consequences....

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Leasing Performance with Peter Roisman

Peter Roisman is based in Puerto Rico where he is the principal at revmlc.com. The company specializes in rating leasing performance for multi-family properties and then training property managers to improve their performance when it comes to leasing. Most property...

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Oil and Gas Exploration with Eric Rice

Eric Rice is based in Dallas Texas where he is in a business development role at King Operating. On today's show we are taking a look at various facets of oil and gas exploration. This is perhaps the highest risk end of the spectrum when it comes to oil and gas...

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Developing Our People and Leadership Skills

Today’s show is the final segment in our mini-series on business planning. Earlier this week we talked about the company mission, the ten year and three year plan, the one year plan and the quarterly plan. We then talked about how we then translate the quarterly plan...

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Quarterly and Weekly Progress

On today’s show we are covering the fourth segment in our mini-series on business planning. On Monday’s show we talked about the company mission. We then spoke about the ten year and the three year plan. On yesterday’s show we spoke about the one year plan. Today...

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Developing The One Year Plan

Today and all this week we are talking about business planning. Within our company we have a regular heartbeat for business planning. We meet annually, quarterly and weekly to work on the business plan. The annual meeting is two full days. The quarterly meeting is a...

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The Long Range Planning Process

On today show this is the second in our series on business planning. Yesterday we spoke about our company’s mission and how we review and reaffirm the company mission every year when we undertake our annual planning cycle. From the company mission, we established the...

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Establishing and Reaffirming The Company Mission

Today and every day this week we are going to talk about the business planning process. Every year, every quarter and every week the leadership team works on the plan and the execution of the plan for the business.  It starts with an annual meeting that is usually...

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20 Lessons with Steve Suh

Steve Suh is a practicing ophthalmologist in the Columbus Ohio market. He is also a principal at Left Field Investors, an investment club that helps educate passive investors on what makes for a good investment. He is also the author of a book: "Avoiding Rookie Errors...

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Value Engineering The New Energy Codes

This week we are doing a mini series on value engineering, this is the process of saving money in a project, without necessarily degrading the project in terms of quality or functionality.  On yesterday’s show we talked about one value engineering optimization. We...

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Value Engineering in 2024

On today’s show we are talking about value engineering. This episode came from a conversation that we were having internally on one of our projects. The thought process comes down to evaluating multiple ways of accomplishing the same outcome before you know which...

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WEF – The Future of Jobs

Monday was the opening day of the World Economic Forum in Davos Switzerland. This annual five day event hosts many of the world’s leaders and business elite.  The WEF has earned a bit of a reputation for being somewhat prescriptive with the idea that somehow these...

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Will The Yield Curve Finally Uninvert?

On today’s show we are taking a look at something that has been happening in the bond market during the holiday period while much of the western world has been distracted and not paying attention. Of course the mainstream media is fixated on the instability in the...

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Investor Reviews with Pat Zingarella

Pasquale (Pat) Zingarella is based in Clinton Connecticut where he is a principal at Invest Clearly. The company specializes in providing verified reviews of real estate sponsors from verified investors. To connect and to learn more visit https://goinvestclearly.com/...

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The Approval Filibuster

On today’s show we are talking about anti-development movements that are becoming increasingly organized in communities across North America. The objection of these groups seems centred around the additional noise, traffic, and congestion that can result from...

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How Does The Banking System Work?

You might have read headlines in the past couple of days that the Federal Reserve is planning to wind down its bank term funding program when it expires on March 11, literally two months away. Michael Barr is the Fed’s vice chairman for bank supervision and he...

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Will Wall Street Buy Your House?

On today’s show we are talking about the recently introduced piece of legislation in the US Congress dated December 5. There is a corresponding bill that was introduced in the Senate by Democratic members of both the house and the senate.  The Congressional Bill is...

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Growth In Times Of Trouble

On today’s show we are talking about how to size your business into the future.  Some people think that profitability in a business is something that happens. Profit is what is left over after you subtract expenses from your income. Yes, that is the math for...

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Property Tax Surprises

On today’s show we are talking about property taxes.  We have experienced dramatic increases in costs for owners of multi family apartment properties over the past couple of years. The biggest contributors have been the cost of capital as a result of rising interest...

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What’s In Store For 24 with Ken Brown

Ken Brown is based in Washington DC where he is a principal at Lion Chase Holdings. On today's show we are looking at the outlook for the coming year. To connect with Ken visit https://lionchase.com --------------- Host: Victor Menasce email:...

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Project Execution with Scott Lewis

Scott Lewis is based in Golden Colorado where he is a principal with the Spartan Investment Group. Our team at Y Street Capital is also work with the Spartan Group on a couple of projects including the construction of a new storage project in Grand Junction Colorado....

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Why Is Build To Rent Popular Right Now?

On today’s show we are taking a look at the build to rent trend that’s growing across many parts of the United States. This is where you build an entire community of detached single family homes or in some cases townhomes. In fact there is a continuum of product...

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Many Types of Trusts

On today’s show we are talking about different types of trusts. Now before we begin, let me state categorically that I’m not a lawyer and I’m not an accountant and I’m not here to provide any form of tax advice or legal advice.  The purpose of today’s show is merely...

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When To Hire Interior Designers

On today’s show we are talking about how and when to hire an interior designer.  As developers and as building owners we often look to the architect to help us determine the aesthetic of our buildings. But often the skillset is not sufficient to cover the breadth of...

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AMA – What About Bitcoin?

Today is another AMA episode. Steve asks “Without a crystal ball but more broadly, what is your opinion of bitcoin as an investment?” ------------ Host: Victor Menasce email: podcast@victorjm.com

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BOM – Noise by Daniel Kahneman

Our book this month is called “Noise: A Flaw in Human Judgement” by Daniel Kahneman, Olivier Sibony, and Cass Sunstein. Daniel Kahneman is an author, psychologist and economist notable for his work on hedonic psychology, psychology of judgment and decision-making. He...

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Modular ADU’s with Sean Roberts

Sean Roberts is based in Denver Colorado and is the CEO of Villa Homes. The company is focused on designing and building a wide product line of factory built accessory dwelling units for the California market. They are the largest supplier of volumetric ADUs in the...

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Capital Allocation with Tim Lyons

Tim Lyons is managing two careers simultaneously. He's a Lieutenant with the NYC Fire Department and is also a managing partner with City Side Capital, a FINRA registered broker dealer license. On today's show we're talking about managing dual careers...

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The Year In Review

It appears as though a lot of people got 2023 wrong. What happened happened, and what didn’t happen, didn’t happen. But the history books are actually based on the narrative that is attached to what happened.  I was thinking hard about what to say about 2023 that...

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Does A Heat Pump Really Save Money?

On today’s show we are examining the ways in which energy efficient systems are not achieving their performance goals due in part to the way traditional systems have been used. As we are getting deeper into the winter heating season this is an important factor when it...

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Florida’s Live Local Act

On today’s show we are looking at Florida’s Live Local Act. Florida is an example of how one state has taken real steps to create the incentives for new affordable housing to be created. This legislation is a series of incentives designed to stimulate the development...

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AMA – Is This Investment Too Good To Be True?

Today is another AMA episode. Today’s question comes from J who writes: I’m performing due diligence on an investment opportunity for a conversion of an existing property into a multi-unit property. This is essentially a repartitioning of an existing 3000 SF property...

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What’s Happening in China’s Housing Market?

On today’s show we are looking at real estate in China to try and understand some of the factors that have molded that industry into what it has become today. Private ownership of property in China began in the late 1970’s and accelerated through the 1980’s and...

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Small Multi-Family Investing with Ray Heimann

Ray Heimann is based in Pittsburg, PA where he is a principal with Terra Capital. His firm specializes in redeveloping historic properties in mature neighborhoods and converting them into luxury class multi-family properties with old world charm. This is a unique...

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Curtain Wall Savings with Anna Olin and Weina Zhang

Anna Olin and Weina Zhang are based in Las Vegas where they manufacture unitized building structural systems that embed the buildings structural elements in the core which correspondingly simplifies the building facade construction. The labor savings of 40% means...

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Immigration Fueled Housing Shortage

On today’s show we are talking about the law of supply and demand. This is one of those principles that I treat with the same reverence as a law of physics. It’s a little like gravity. If you try to fight gravity, you’re probably going to come out on the losing end of...

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The Real Reason For The Fed Pivot

On yesterday’s show I speculated on some of the reasons why the Fed might have pivoted. These reasons all sounded pretty plausible. Then I listened to an interview with Chicago Fed President Austan Goolsbee, who was on the Fed’s rate-setting committee this year. He...

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What Spooked The Fed?

On today’s show we are talking about why the Fed made a surprise announcement last week which involved the potential for several 0.25% rate cuts in 2024. This seems like a dramatic about face compared with the rhetoric from the Fed only a few weeks earlier.  So the...

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New SEC Report on Accredited Investors

On today’s show we are taking a look at a new report issued by the staff at the US SEC to the SEC and to the Congress. The law requires the SEC to undertake a review of the accredited investor definition, at least once every four years to determine whether the...

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Government’s Falling Influence

On today’s show we are talking about the shrinking influence of governments around the world. Politicians act as if they can control what happens within their borders. They act as if the national economy is under their control, and that if they set the rules for the...

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Senior Housing Development with Dr. Neel Chadha

Dr. Neel Chadha is a practicing physician in Ottawa Canada and is also a part-time developer of senior housing, assisted living and memory care facilities. On today's show we're talking about designing service offerings. You can connect with Neel at...

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Corporate Agreements with Richard Crouch

Richard Crouch is based in Richmond Virginia where he is with the law firm of Woods Rogers Vandeventer Black. On today's show we are talking about some of the common pitfalls when structuring agreements. To connect or to learn more you can email Richard at...

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Done And Good Is Better Than Late and Great

On today’s show we are talking about a concept in project management that is rarely discussed. When we think about the items that determine a project’s timeline, there are all of the text book steps in developing a project plan. More advanced project management means...

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Is This A Bear Trap Or A Bull Trap?

On today’s show we’re going to the dark side to listen to Jim Cramer from CNBC and try to learn why the DOW skyrocketed over 500 points in the wake of yesterday’s interest rate announcement by J Powell.  ----------- Host: Victor Menasce email:...

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The CPI and Interest Rates

On today’s show we are talking about the latest CPI data announcement. This data is important going into the final FOMC meeting for the year, where the Fed held interest rates steady again for the third meeting in a row.  The month over month data showed an increase...

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Global Weaknesses

On today’s show we are talking about geopolitical stability and the vulnerability of nations. The idea behind globalization was that by creating economic interdependency, the world would become a more peaceful place. Many wars have an economic underpinning. But if...

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Rent Concessions Abound

If you’ve been listening to the podcast for a while, you will know that I’m a proponent of the laws of supply and demand. If you ignore the laws of supply and demand, you do so at your peril.  It’s always been the case that a new building will go through a process of...

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Digital Marketing with Ed Mathews

Ed Mathews is based in central Connecticut where he runs Clark Street Capital. On today's show we are talking about what forms of marketing are effective in today's environment. To connect with Ed, visit Clark Street Capital on all the social media platforms...

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SBA Financing with Ryan Smith

Ryan Smith is based in San Diego California where he specializes in SBA financing for business across the US. On today's show we are talking about the nuances of the different SBA programs. You can connect with Ryan at thinkSBA.com ------------ Host: Victor...

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Why Are Loan Rates Falling?

On today’s show we are talking about why we are seeing long term interest rates falling, even though short term rates have held steady since mid summer.  We can see clearly what has happened in the market. Long term rates went up from June to October, peaking at...

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AMA – Insane Electric Utility Requirements

Today’s question comes from Omar.  I’m working the design of a new building and the electric utility is forcing me to change the design of the electric meters from a wiring closet inside the hallway of a residential building to the building’s exterior. This is going...

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AMA – Boutique Hotel in Costa Rica

Today's question comes from Richard who asks: "I’m considering an investment in a boutique hotel vacation property in Costa Rica with 18 rooms on the beach. For investors looking beyond their local markets, what considerations and challenges should they be...

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Deciding When To Hire

On today’s show we are talking about staffing. We’re reading daily headlines of staffing cuts at companies across the economy. Just in the past week we’ve seen headlines of 1500 people let go at Spotify, 3000 at TD Bank, 1000 Track maintenance workers at Union Pacific...

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Mobile Home Park Investing with Derek Vickers

Derek Vickers is based in Orlando, Florida where he invests in mobile home parks in Florida and the Carolinas. On today's show, we're talking about how to create value in mobile home parks. New parks are not being permitted in many communities and a...

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Franchising with Greg Mohr

Greg Mohr is based in Lincoln Nebraska where he is a national franchising consultant, helping potential franchisees find the right business to undertake. To learn more and to connect with Greg, visit franchisemaven.com ------------- Host: Victor Menasce email:...

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BOM – Never Split The Difference

“Never Split the Difference: Negotiating As If Your Life Depended On It" by Chris Voss is an insightful and practical guide to negotiation, drawing on the author's extensive experience as a former FBI hostage negotiator.  ----------- Host: Victor Menasce email:...

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Brown Is The New Green

The COP28 summit just got underway in Dubai, a region known for oil production. On today’s show we’re going to look at a recently published paper  coauthored by Kelly Shue of Yale SOM and Samuel Hartzmark of the Carroll School of Management at Boston College. This...

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How a $40 Tool Can Save Thousands

On today’s show we are talking about how a $40 tool can save you thousands or even tens of thousands of dollars in energy costs. As real estate investors we often spend the bulk of our time in the relative sanitized environment of the office and spreadsheets. Your...

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Could Artificial Intelligence Threaten Democracy?

On today’s show, we are talking about one of the implications of artificial intelligence that is not being widely discussed in the main stream media. There are billions of people in the world. Designing and tailoring products for individuals has been largely ignored...

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Price Fixing in Real Estate

On today’s show we are looking at the result of a lawsuit that has been decades in the making. I’ve wondered for a long time why real estate commissions in the US have remained solidly anchored at 6% when in other markets real estate commissions seem to fluctuate much...

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New York Real Estate with Bob Knakal

Bob Knakal is a senior executive at JLL in New York City. On today's show we are talking about some of the challenges facing real estate in the New York market. JLL is a large national commercial brokerage and the New York team is truly expert at what they do....

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Super Cycles with Chris Larsen

Chris Larsen is based in Asheville, North Carolina where he runs Next Level Income. On today's show we are talking about economic super-cycles. You can learn more or you can connect with Chris at nextlevelincome.com. -------------------- Host: Victor Menasce...

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Measure Twice, Cut Once

On today’s show we are talking about measurement diligence.  People are human and they make mistakes. Often these potential mistakes are not checked, double checked or triple checked. You have no doubt heard the mantra, measure twice, cut once.  Measuring sounds easy....

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The Conflicting Data Is Clear

Happy Thanksgiving to our listeners in the United States. We have lots to be thankful for. I’m personally thankful for a long list of things. I’m thankful for my health, for my family, for having the privilege of working with great people. I’m grateful for friendship...

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US Corporate Transparency Act

There is a new law which takes effect Jan 1, 2024. The primary purpose of the Act is to provide greater transparency of legal entities to detect and combat illegal activities. The new reporting requirements, however, will cause millions of existing legal entities to...

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What The Auction Tells Us

On today’s show we are looking at the results of one of the most anticipated real estate auctions this year. Signature bank failed in the Spring of this year, shortly after the failure of Silicon Valley Bank.  The loan portfolio was finally put to auction and it looks...

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Inflation is The Problem. Inflation Is The Solution

 On today’s show, we are talking about four ways to liquidate debt. Our entire economy is driven by access to credit. Credit facilities of all types are essentially a claim on future earnings. I don’t have the money today, but I will in the future if you lend me some...

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When Bad News is Good News

On today’s show, we are taking a look at why interest rates for commercial real estate are actually falling despite the hawkish rhetoric this past week from Federal Reserve chairman Jerome Powell. Since the middle of the summer we have seen rising yields on the 10...

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Practicing Real Estate Law with Jeff Love

Jeff Love has been helping commercial clients with their real estate legal needs for more than 15 years. On today's show we are talking about distress in the current market. To connect with Jeff, visit gibbsgidden.com ----------- Host: Victor Menasce email:...

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All You Can Eat Buffet

On today’s show we’re talking about the forecast flood of distressed deals in the marketplace. We’ve been hearing about how distress is coming and how deals will be available.  I’m here to tell you that the future is now. We are starting to see a regular flow of large...

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Simple Agreement For Future Equity

On today’s show we are talking about deal structure. Some of the financing vehicles that are increasingly common in real estate had their roots on Wall Street. Others had their roots in the tech environment of Silicon Valley.  When investors want to participate in a...

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Prices Are Set In The Margin

Prices in real estate are not determined by the broad market. Instead they’re often set by transactions at the margins of the market, by a tiny percentage of properties that transact, and not the majority of the market that is just staying put.  On today’s show I’m...

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