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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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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