AMA – The Lady In The Basement

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

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Green Buildings

On today’s show we’re talking about a relatively new environmental standard that is increasingly being referenced by government in order to qualify for certain incentives. That standard is called the 2020 Enterprise Green Communities. This standard is being adopted if...

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Ben Kogut

Our guest today hails all the way from Austin Texas where his team invests in commercial office, retail, and shopping centers on a national basis. On today's show we're talking about the focus for thriving in the current pandemic-adjusted market conditions. To connect...

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Beau Eckstein

On today's show I'm speaking with Las Vegas financing broker Beau Eckstein about the Commercial PACE program which provides leading specific to energy efficient buildings. To learn more or to connect with Beau, visit beaueckstein.com. ------------------------ Host:...

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The Banking Regulator Versus Victor

On today’s show we’re taking a look at Canada. There was a recent prediction of market collapse of 10%-20%. The prediction came from Canada’s top bank regulator. We also have bureaucrats and politicians out there blaming house flippers for the run up in property...

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The Future of Banking

On today’s show we’re talking about the shift that is taking place in the world of banking. The landscape in banking varies widely in the US. There are a handful of big banks and still a whole lot of smaller banks. Banking in the US has undergone a tremendous amount...

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The Adoption Curve

On today’s show we’re talking about how demand patterns will change in the wake of the pandemic. How will our world be different post-pandemic. Will people want to dine out the way they did before? I just spent a month in Mexico at a resort with incredibly beautiful...

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BOM – Rocket Fuel by Gino Wickman and Mark Winters

On today’s show we’re taking a deep look at the book “Rocket Fuel” by Gino Wickman and Mark Winters. In addition to being book of the month, this is a book that we use deeply within the operation of our business. We hold regular weekly and quarterly meetings. The...

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Fund Managers With No Control

The day was Black Monday, October 19, 1987. I remember it well. I was 24 years old and I was responsible for the management of the investment holding company that my mother had left behind when she died. I was only 18 years old at the time of my mother’s death. I knew...

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George Ross Has No Crystal Ball

On today's show we're talking about how the rising price of energy could impact real estate investors. I love George's wisdom and perspective.  ---------------- Host: Victor Menasce email:...

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Ryan Barone

Ryan Barone is based in NY where he is specialized in developing software to help landlords and tenants with the application process. He is the CEO of RentRedi.com. Today's conversation is filled with insights on the tenant application process.  -----------------...

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Gaps in Legal Advice

On today's show we are looking at two real estate portfolio failures where the principals naively thought they were getting good legal advice. Sadly, I see these situations very frequently.  ---------------- Host: Victor Menasce email:...

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AMA – The 3D Printing Revolution

Today is another AMA episode (Ask Me Anything). Keeler writes: Hello, what are your thoughts are with 3D printed concrete houses? I have dreamt about starting a company and mass-producing rentals and for-sale homes ever since being in the trades. Building custom...

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Wall Street – Explaining The Inexplicable

On today’s show we’re going to pick apart the Wall Street narrative. In the world of stock investing, there are two schools of thought. There is a portion of the market that buys a stock on the basis of fundamentals. Fundamentals means, is the valuation for the...

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AMA – Students Are Learning Too

Today’s show is answering a question for the students at Virginia Commonwealth University and their professor Josh Ridpath who has been using the Real Estate Espresso Podcast for course content in their program. Professor Ridpath writes: “My students found your...

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Jacob Garza

Jacob Garza hails all the way from San Antonio, Texas where he owns and manages a portfolio of approximately 2,800 apartments. Jacob got his start as a founder of a property management software company before selling the company and transitioning into owning...

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Free Time with Jenny Blake

Jenny Blake is the author of the upcoming book "Free Time: Lose the busywork, love your business". On today's show we're talking about a few of the central ideas in the book and about some of the factors that are limiting for business owners. Loved this conversation...

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AMA – After The Fire

Today is another AMA Episode (Ask Me Anything). Today's question comes from Joe who writes. "I live outside Boulder Colorado near the small town of Superior/Louisville.  We had just experienced a devastating fire that destroyed over 900 homes.  This comes at a time...

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AMA – Principal Residence

Today’s question comes from Evan who writes. I have 3 rental properties and a primary residence that we'd be looking to retain and rent. Like a lot of people we're looking for a bigger house and bigger yard out in a charming suburb. I don't really know how to think...

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The Fed Is Out Of Ammo

On today’s show we’re going to look at what’s happening in monetary policy and how that will affect the stock market in the coming weeks and months, and how this could affect investment psychology and some of the factors that could even trigger a recession....

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AMA – The Right Environment

Today is another AMA episode (ask Me Anything). Today’s question comes from Anna who asks, “Thank you so much for all of your production and insight into real estate investing. You are highly regarded in the real estate investing realm. I have been trying to get into...

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Web 3.0 – Virtual Land (Is it Real Estate)?

We are continuing our series on the evolution of the internet with Web 3.0. Every Monday in the month of January we are covering a different aspect of the new distributed internet, which most people associate with crypto-currencies like Bitcoin. On today’s show we’re...

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Dr. Neel Chadha

Dr. Neel Chadha is barely 30 years old, works full time in his medical practice and has developed his first senior housing facility as a side hustle. On today's show we're talking about his journey as a first time developer, and as a first time operator of a senior...

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No Meaningful News Sources

Today’s show is a search of quality real estate news in the mainstream media. I suppose it’s also a critique of the Wall Street Journal. I’ve been reading the Wall Street Journal since I was a teenager. Yes, I know that sounds completely weird. As a teenager, I would...

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More Economic Disruption and Stagflation

The 0Micron variant is not serious enough to bring the world to a halt. That is, except for one thing. Because this virus, barely more virulent than the common cold has been sequenced, it carries with it the dreaded Covid-19 brand name and therefore this is a disease...

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Market Segmentation

On today’s show we’re talking about the importance of market segmentation. Because real estate is not easily moved, the supply and demand picture is hyper local. That means each real estate product has a radius where the demand is real. Outside of that radius and the...

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AMA – Multiple Currencies

Today is another AMA episode (Ask Me Anything). Today's question comes from Kevin who writes: "Your podcast has been great. It has really challenged my thinking in a lot of ways. I particularly call back to (and continually share) the podcast you did talking about...

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Blockchain in Real Estate

On today’s show we are continuing our series on blockchain in real estate. There are dozens of articles on new blockchain startups to watch. Some are focused on crypto currency. A few are focused on real estate. Many of these companies seem to exist for the simple...

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Kent Ritter

Kent Ritter is based in Indianapolis, Indiana where he invests in medium sized multi-family apartment assets. This is a different take on value add investing where Kent is successfully bucking the conventional wisdom. To connect with Kent or to learn more, visit...

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Minutes Of The Federal Reserve Board Of Governors

On today’s show we are looking in detail at the minutes of the latest Federal Reserve board of governors meeting to try and make sense of what the guidance means for us as real estate investors and developers. ---------------- Host: Victor Menasce email:...

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How Do I Do It?

On today’s show I’m going to answer a question that I’ve received from several of our listeners in recent weeks. I’m not going to attribute the question to any one person. The basic gist of the question is “How do you do it?” How do you come up with so much highly...

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AMA – City Wants My Land

Today is another AMA episode (Ask Me Anything). Today’s question comes Karen. I have a property that has a proposed road allowance on the city plan. The city has not yet forced the road to be built, nor have they expropriated the land for the road. I want to consider...

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Possible End Of The Pandemic

On today’s show I’m going out on a limb to give you information about the pandemic that is not making headlines. This will help you with your business planning for 2022. I want to be clear that I’m not a doctor and I’m not providing medical advice. I’m merely...

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Crypto Uncovered

On today’s show we are talking about the next great innovations in internet applications. In fact every Monday in the month of January we will be talking about some aspect of these new technologies. There is a disproportionate amount of venture capital being focused...

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Bob Couture

Bob Couture lives in Los Angeles and invests in the North East. Not a typical situation. This is a fascinating story of remote investing with a twist. There are some excellent lessons on the importance of team in today's conversation. To learn more or to connect with...

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A New Wave Of Protectionism

On today’s show we’re talking about a new trend in protectionism that has been brought about by scarce resources around the world. I predict new waves of political protectionism happening all over the world as scarce resources become more vital. In an effort to bring...

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What Did 2021 Teach Us?

On today’s show we’re taking a retrospective look at this most unusual of years 2021. The purpose of a retrospective is to extract the lessons that these memories can bring us. If you’re a lifelong student, then everything that happens can be framed in the context of...

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Rental Concessions are Changing

On today's show we're looking at the changes that have taken place in the past few months in rent growth, rental concessions, and interest rates. It's a bell-weather of changing market conditions. ------------------- Host: Victor Menasce email:...

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AMA – Ground Lease Build to Rent

Today is another AMA episode (Ask Me Anything). This question comes from Stephen. He asks, I am looking to develop a small build to rent community of 30 townhouses on a leased property. I’m just getting started in development and wanted to start small. By leasing the...

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AMA – Small Condo Project

Today is another AMA episode (Ask Me Anything).  Mark writes:  I plan to build 12 townhouses in two sets of six. I’m wondering if its worth looking into setting them up as condos with an association instead of just long term rentals. I have experience with long term...

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Brian Briscoe

Brian Briscoe was a US Marine Lieutenant Colonel who is now a full time real estate investor. On today's show we're talking about the skills bridge program that exists to help military personnel transition from service life to the private sector. Similar programs...

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Twenty Great Things

This is the December 25 edition of the show. Merry Christmas to all our listeners of the Christian faith. On today’s show I’m doing some gratitude work. I was taught this by my good friend and mentor Kyle Wilson. Kyle is a past guest on this show and he’s best known...

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Non Linear Thinking

On today’s show we’re talking about math. That’s right math. We humans are used to linear thinking. It’s how many of us interact with our physical world. When you double the distance, it takes twice as long to get there. If the price goes up by a dollar, you need to...

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A Cautionary Tale

On today’s show, we are talking about buying in a fringe area. Today’s show is cautionary tale. As you know, I’m a proponent of the buy on the line, move the line strategy. That line exists in nearly every city in North America. On one side of the line is a hot...

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When People Don’t Want To Work

On today’s show we’re talking about how the current labor shortage is affecting the world of employment, and therefore by extension the world of real estate. We’re still in the middle of a pandemic. But despite the historically low unemployment rate, we have a labor...

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Why Are Lumber Prices Rising Again?

On today’s show we’re talking about another spike in lumber prices that will affect housing starts and renovations all over North America. Anyone who has built anything in the past year has suffered the sticker shock of high lumber prices. Prices back in May of 2021...

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More Supply Chain Disruptions

On today's show we're taking a close look at why the supply chain disruptions are not being solved.  ------------------------ Host: Victor Menasce email: podcast@victorjm.com

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George Ross on Even Higher Inflation

George is a repeat guest on the show. He's spending time in Delray Beach to get some warm weather instead of being hunkered down in NYC. On today's show we're talking about how to underwrite in the current environment.  ------------------ Host: Victor Menasce email:...

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Galen Hair

Galen Hair is based in New Orleans, Louisiana where he specializes as an insurance litigator. On today's show we're talking about how to figure out if your insurance policy is worth the paper it's written on. To connect with Galen or to learn more, visit...

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The Market Will Set The Interest Rate

On today’s show we’re talking about interest rate fundamentals. Some people come from the school that interest rates are set by central banks. While central banks play a leadership role in rate setting, they don’t actually set the interest rates. Those rates are set...

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Industrial Space Update

Getting products from A to B has always been an issue for anyone in business. It used to be the case that you had to buy products through a channel. In the good old days, stores like Sears, Kmart, Walmart and Bloomingdales were the channels of choice. Today,...

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Investors Hate Uncertainty

On today’s show we’re talking about uncertainty. We can all agree that not everything in life is predictable. Life is full of surprises, some of the pleasant, and some of them not. It’s been said that a confused mind doesn’t buy. That’s particularly true in the world...

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AMA – Low Effort Investing

Today is another AMA episode (Ask Me Anything). Today's question comes from Matthew. Victor! Your podcast provides a wealth of knowledge. I really appreciate your honesty and insight into this industry. I was curious if you had any episodes about your opinion of the...

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Scott Carson

Scott Carson is an expert in buying distressed loans and engineering value improvements to these loans.  You can connect with Scott at WeCloseNotes.com. Or you can sign up for a complimentary seat at their weekend note closing workshop at noteweekend.com where you can...

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Flawed Process Thinking, Flawed Software

On today’s show we’re talking about underwriting multi-family apartment deals. Earlier this week I attended a presentation from the CEO of a software development company that had developed tools for real estate investors to analyze the investment quality for...

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How To Find The Right Environment

On today’s show, we’re talking about a topic that is near and dear to my heart. This week and all week, my company is offsite working on goal setting. This is a process of values clarification and values alignment. Once you’re clear on your values, then setting goals...

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A Excuse To Print Money

Central governments have become experts at coming up with good excuses for doing the wrong thing. On today’s show, we’re talking about the impact of a changing world order and how this will feed further inflation and the possibility of economic collapse. The global...

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Search Far And Wide

On today’s show we’re talking about how to secure product in a time of scarcity. Supply chain disruptions are happening all over North America right now. This is affecting everything from electrical switches to plumbing fixtures to windows. Several window...

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A New Investment Vehicle?

As investors we’re on the lookout for assets that escalate in price over time. If that price escalation is predictable, then you have the makings of a sure fire investment. Many investors take the stance of looking retrospectively and attempt to use history as a...

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Speaking with Allen Lomax

Dr. Allen Lomax is the host of the Steed Talker Podcast. On today's show, Allen is the host of the show and I'm the guest. We're talking about how to create opportunities at will.  --------------------- email:...

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Cody Bjugan

Cody Bjugan is based in Scottsdale Arizona where he specializes in land entitlement nationwide. His education company vestright.com is entirely dedicated to value creation by converting raw land to land entitled for development. You can learn more by downloading his...

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No Work Before The Starting Gun

You might own a parcel of land free and clear. You have a construction project planned for your property and you know that you will have to eventually get a construction loan. Securing a construction loan can be a lengthy process and it’s tempting to get start the...

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Wasted Software

We often business owners buy a software package or subscribe to a software service and then fail to properly integrate it. The software is sold on the basis of offering a solution to a problem. But there is a fallacy in this way of thinking. Software can only...

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BOM – $100M Offers by Alex Hormozi

Our Book of the Month is called "$100M offers: How to make offers so good people feel stupid saying no." By Alex Hormozi The core of the book is based on the notion of making Value-Driven vs. Price-Driven Purchases You can grow your business by three axes, more...

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AMA – RV’s in a Mobile Home Park

Today is another AMA episode (ask Me Anything). Today’s question comes from Carl in Austin. I’m looking at a mobile home park with quite a bit of vacancy and am wondering if its possible to put RV’s on those spaces. What are some of the considerations that I should be...

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The Hidden Tax of Inflation

On today’s show we’re talking about the hidden taxes that result from printing money. Those who have studied history will know that any time you debase the currency by printing, it has the effect of destroying the fabric of a society. This has happened throughout...

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Live From The Construction Site

On today's show we're talking about how to ensure your construction site is 100%, perfectly level. The tools that surveyors use are also readily available and can save your project and save you money. You don't need to be a licensed surveyor to use them. We often use...

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Jim Pfeifer

Jim Pfeifer is based in Columbus, Ohio. He has transitioned from being an active investor to being a passive investor. Today's show is a lesson in self awareness and how to design your own personal investing philosophy around your own strengths and weaknesses.  To...

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A Day In The Life Of Victor

On today’s show we’re going to take a look at a day in the life of Victor. A number of you have asked questions about how I spend my day. So I’m going to outline my day, chosen at random. Today was not a fully typical day because it was US Thanksgiving which meant...

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Preparing for 2022

Happy Thanksgiving to our US listeners. On today’s show we’re preparing for 2022. I find that towards the end of the year people often get an uneasy feeling that there are only a few weeks remaining in the year. Many of the goals that were set at the beginning of 2021...

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How Far Are The Closest Utilities?

On today’s show we’re talking about  the evolution of many cities. You will find pockets of development outside the urban core. These pockets are disconnected from each other in one very important respect. They don’t have city supplied utilities. The cost of extending...

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The Return to Live In-Person Events

On today’s show we’re talking about how the pandemic is affecting business development. Business development relies heavily on personal interaction. Markets don’t buy, only people buy. Relationship building is a key component of business development in any industry....

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When To Fire A Consultant

On today’s show we are talking about when to fire a consultant. You hire consultants for specific expertise in a narrow domain. These folks are supposed to be subject matter experts in their area. There can be upwards of twenty of these consultants involved in a major...

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Special Guest Ken Gee

Ken Gee is based in Cleveland Ohio. But his business today is focused in Northern and Central Florida where he buys and repositions apartments. Over the past several years, he has amassed a portfolio of approximately 2,000 units. On today's show we're talking about...

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George Ross On Rent Growth Prediction

On today's show, I'm speaking with George about the impact of inflation on predicting the financial performance of a multi-family apartment project over a multi-year window. This has become more difficult since we've seen inflation jump to above 6% in the past few...

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The 1970’s Inflation Narrative

On today’s show we’re taking a deep look at the 1970’s inflation narrative and seeing if there are any history lessons for us. This past weekend, Treasury Secretary and former Federal Reserve Chair Janet Yellen was on PBS Face The Nation. The discussion centered...

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Managing Your Forward Inflation Forecast

On today’s show we’re talking about rent growth. There are rising rents in many submarkets. For those who own their own home, they’re probably glad that their housing costs are fixed. We have seen near record setting price increases for single family homes in many...

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AMA – Natural Gas Price Fluctuations

Today's question comes from Vishal in Ottawa. He writes: "As you know I am long time listener and fan of your podcast. Earlier in previous episodes you have mentioned of the growing concern of price increase of natural gas due to various changing conditions. How do...

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Abuses of Tenant Protections

Today's show is a look at some egregious abuses of the protections being afforded to residential occupants. All of the examples come from the State of New York. In the worst case, a homeowner who defaulted on his loan in 1998 and lost ownership of his home through the...

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Why Ships Are Stuck at Anchor

On today’s show we’re taking a closer look at the supply chain disruptions that are making headlines. The situation at the Port of Los Angeles has gotten worse, not better. There are currently approximately 110 ships waiting at anchor for a berth to unload their...

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Special Guest Kevin Shtofman

Kevin Shtofman is based in Dallas Texas. On today's show we're talking about the backlash against student housing as an asset class and how that backlash may be appropriate in some cases and an over-reaction in others.  You can connect with Kevin on LinkedIn. ...

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Eddie Speed

Eddie Speed is a specialist in Notes. He started buying notes in the 1980's, and today is focused on a particular segment that is largely overlooked. You will love this contrarian strategy.  To learn more, visit noteschool.com/getstarted ----------------------- Host:...

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Exempt From What?

Today’s show starts with a disclaimer. I’m not a lawyer and today’s show should not be construed as legal advice. Always seek advice from a lawyer who is competent in that specific area of the law. On today’s show we’re talking about something that I see frequently....

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AMA – What To Focus On Next?

Today's question comes from Luc in Ottawa. He asks "I've just purchased my first investment property. I'm looking to grow. What should I be focusing on?" ------------------- Host: Victor Menasce email:...

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Buy On The Line Revised

On today’s show we are talking about a twist on a strategy that we have been using for close to a decade. If you have been listening to this podcast for a while, you will have heard me talking about the buy on the line, move the line strategy. This approach is an...

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Managing Supply of Services

On today’s show we’re talking about another constraint in the world of real estate development and construction. The labor shortage that is making headlines is being experienced across the entire construction industry. That is particularly being felt in many of the...

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Managing Your Supply Chain

On today’s show we’re talking about managing your supply chain. There’s no question that some suppliers are having trouble keeping up with demand. Some channels are simply fully depleted. Almost all real estate investors at some point are buying construction...

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Sanchoy Das

Sanchoy Das is a processor of Industrial Engineering at the New Jersey Institute of Technology. On today's show we're talking about global supply chains and how to manage the impact of disruptions. You can connect with Sanjoy at das@njit.adu.  --------------------...

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The Last Letter Of The Alphabet

On today’s show we are taking a close look at one of the most insane ideas to hit the market this year. In a bull market, everyone looks like a genius. But there is a cautionary tale here. Don’t ever mistake intelligence for luck in a bull market situation and that...

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Artificial Deadlines

On today’s show we’re talking about artificial deadlines. These types of manipulations exist all over. They’re designed to create a sense of urgency to cause people to act. One of the sources of competition for someone’s action is simply doing nothing. Often doing...

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What’s Happening In Travel

On today’s show we’re taking a look at what’s happening in the travel sector. Many real estate investors, even large commercial real estate investors own portfolios of rental properties and portfolios of short term rental properties. This can mean short term rentals...

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AMA – Zoning Versus Official Plan

Today's question comes from Ken in Idaho.  I have a property that is zoned rural and I’m considering developing for residential and I understand that I need a zoning change in order to build what I want. But I’m confused about terms like the official plan and the...

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Industrial Market Report 4Q 2021

On today’s show we’re talking about what’s happening in the world of industrial real estate. In the past week, the brokerage firm Marcus & Millichap published 44 market reports on industrial real estate for Q4. This is one of the largest and most comprehensive...

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BOM – The Goal by Eli Goldratt

Our book this month is "The Goal" by Eli Goldratt. This book was originally published in 1984 and was the groundbreaking book on the Theory of Constraints.  The book is written as a narrative surrounding a manufacturing plant manager named Alex who moves to a small...

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