Oh today’s show we are talking about the current macro economic climate and provide a forecast for interest rates for the second half of this year.  The fact is that we live in an interconnected world and the attempts by central bankers to look at the economic...

Russell Gray is the co-host of the Real Estate Guys Radio show, now in its 26th year. On today's show we are talking about the current monetary environment and the risks inherent in today's FIAT currency based system. To connect with Russ or to learn more...

On today's show we are talking with Chad Zdenek who is based in Los Angeles. Chad has a side hustle as the host of at documentary TV series called "Inside Mighty Machines". By day, he owns and operates a portfolio of multi family apartments. On today's show...

We have all experienced entering a search query only to receive a long list of unrelated products that happen to match one of the keywords in the search.  Incorporating artificial intelligence into the customer experience will transform search. You might be wondering...

Today's question comes from Adam who writes: Hello Victor, Thank you for the wonderful podcast.  I am a daily listener and I regularly recommend the Real Espresso Podcast to others. Today you ended your podcast (S6 E166 Cand the Banks Survive Another Rate...

On today’s show we are talking about the coming financial crisis. You might be wondering how I can say that. We are not seeing more bank failures since the failure of First republic Bank.  We are seeing signs of it creeping into the news headlines. Yesterday’s Wall...

This question comes from Paul who writes: I have booked a strong capital gain as a passive investor in a syndication. The sponsor of the deal is asking all investors to come along for the ride in a 1031 exchange. The sponsor seemed to do a good job on this first...

On today’s show we’re talking about my personal experience with the media. I also want to be careful to make sure this does not come across as sounding like a bunch of conspiracy theories.  There is an accepted social norm called social proof. This is based on the...

Andrew Abernathey is based in Phoenix Arizona where he develops storage facilities in Arizona and California. Working closely with a family office, Andrew and his team at Abernathey Holdings are scaling up aggressively. To learn more or to connect with Andrew, visit...

Anna Kelly is based in Lancaster Pennsylvania and she invests in several markets across the SE USA including multi family apartments and short term rentals. She has established herself as a leader in the space. On today's show we are talking about risk, and some...

Today's question comes from Christian who asks: I’m small time RE investor and about to do my first long distance flip. Is it worth hiring a project management company? It is a flat fee and they would help with design, compare costs, negotiate with contractors,...

On today’s show we are going through a thought experiment about the risk of large global divisions and how that might affect your real estate development project. To walk through the process, we are going to use an example of a small construction project for a single...

The Wall Street Journal finally reported on something that investors and lenders have known for more than nine months.  The rapid rise in interest rates has created a structural problem for commercial real estate.  The issue goes far beyond the headline that nearly...

How do you know if a project bid is good? On today’s show we are talking about how to value engineer a project. We’re going to look at a project that has a firm bid on it. Overall, the construction bid seemed to be fairly reasonable in terms of total price per square...

On today’s show we are looking at the design of industrial warehouse buildings. Building designs are changing from a functional perspective and this is important when you consider investment in industrial buildings. When we hear about warehouses, people tend to talk...

Deborah Smith is based in the NY area where she plays a key role in institutional investing at the Center Cap Group in industrial real estate. In particular, she is a big fan of industrial outdoor storage. We share that in common. On today's show we are talking...

Dan Haberkost is based in Colorado Springs where he is the founder of Front Range Land. The company specializes in in-fill land improvements all over the South-east. On today's show we are talking about the current market conditions for in-fill land projects and...

On today’s show, we are taking a look at one of the largest economies in the world and wondering why it seems to be sputtering. We are of course, talking about China. Earlier this year the Chinese economy was in strict lockdown due to the COVID-19 pandemic. After...

 Our book this month is called "Debt: the last 5000 years.”  I expected this book to be thought-provoking, and it did not disappoint. The author of the book is anthropologist David Graeber and the book was written in the week of the great financial crisis of 2008 and...

On today’s show we are looking at an outlook for inflation of construction prices and how this is going to play out over the next three years.  There is no question that construction prices have come down in the past 6 months and continue to fall. This has been driven...

On today’s show we are going to put forward a hypothesis. A hypothesis is an untested idea. It’s hypothetical which is why it is called a hypothesis.  Specifically we’re going to look at the balance of revenue and expenses that make for a profitable venture in...

On today’s show we’re coming to you live from Multi Family Conference in Toronto.  There were a number of great speakers at the conference, but I want to focus on one speaker in particular. Our North American culture can be celebrity obsessed and I don’t buy into...

Mark Kenney is a principal at Think MultiFamily in Dallas Texas. He and his partners have amassed a portfolio of more than 14,000 apartments. On today's show we are talking about lessons learned from the current market conditions. This is a fairly sobering...

Quentin DeSouza is based in Toronto Canada where he has grown as sizeable portfolio of multi-family apartments. On today's show Quentin talks about his strategy for stimulating rent growth in a rent controlled market. To connect or to learn more, reach out to...

Today’s question comes from Mathieu who asks: I’m experiencing sellers who are demanding unreasonable terms when it comes to even looking at a property. They are asking me to get the property under contract before even viewing the property and they are demanding due...

On today’s show we are looking at short term rentals to see what market conditions are best suited to this product type.  In addition, some critics are zeroing in on a legal gray zone in the world of residential tenancies, short term rentals, hotel stays, and medium...

On today’s show we are taking a look at the so-called liquidity crunch to understand why it is happening. Is it just rumour? Is the lack of liquidity real?  On today’s show we have concrete proof as to why the credit markets are seizing up.  A few months ago it was...

On today’s show we are talking about conservation easements.  We tend to think of the income tax code as a mechanism for extracting revenue from the population and from businesses. To be fair, that is true. But there are thousands upon thousands of pages in the tax...

Today's question is from Marc in Montreal The information you provide on your show helps me every day sharpen my strategies and tactics.  Thanks for that. I run a strip mall with a laneway behind it that is used for a McDonald’s drive through.   The city, rightly or...

Brett Swarts has been active in sheltering real estate from capital gains tax for several decades. On today's show we are talking about several strategies that can be used to shelter from tax including the Delaware Statutory Trust and the Deferred Sales Trust....

Max Hansen is based in Utah where he has been practicing as a 1031 Intermediary for more than 40 years. On today's show we are talking about some of the nuances of sheltering capital gains tax in the US tax code. To connect or to learn more, visit accruit.com,...

This past month, a milestone was passed that went largely un-noticed. China exported more goods in Remnimbi then in US dollars for the first time in modern history. This means that more and more countries are willing to do business with China.  When you consider what...

On today’s show we are taking a look at why we are experiencing a banking crisis. There are those in the Federal Reserve and in the media who are critical of recent bank failures. Those banks were irresponsible and didn’t hedge their interest rate risk properly....

On today’s show we are talking about why the math of home affordability is broken. The critics of home affordability put the blame at the feet of developers and home builders for not building affordable homes.  But the price of homes in the resale market is set...

In the world of economics, it’s vital to understand energy. Energy is the economy. The economy and real estate are connected through multiple threads. The ESG movement of environmental sustainability and governance has its heart in the right place. The problem is the...

Today's question comes from Ms. Cortes in Atlanta who asks: I’ve been offered an opportunity to invest in a ground up construction of a new warehouse located near I-10. I’ve sent you the entire package of information from the deal sponsor including the webinar...

Matt Pestronk is based in Philadelphia and specializes in redeveloping office assets in the North Eastern states. On today's show we are talking about the subtleties of office conversion projects. You can connect with Matt at postcre.com ----------------- Host:...

Michael Flight is based in Oak Brook, Illinois and has been investing in shopping centers since the 1980's. On today's show we are talking about the changing nature of retail and how the retail apocalypse is not upon us. Michael has been doing some...

On today’s show we are talking about the process of getting approvals for even simple projects.  We are talking about a project that recently received full approval to move forward with construction. Even in cases where the zoning is not changing and no new buildings...

On today’s show we are going to look at an asset class that continues to attract attention from both individual investors and institutional players. That asset class is storage. Storage is seen as a recession resistant asset class. There are clearly many signs that...

 On today show we’re talking about housing needs in manufacturing corridors. Yesterday I attended a meeting involving politicians and city staff from five different communities along the St. Lawrence River seaway. Many of these communities have experienced a...

On today’s show we are talking about one of the most overlooked line items in a property budget. This is the dreaded repairs and maintenance line.  Operating budgets make reasonable assumptions about the natural timeframe for equipment replacement, and the lifetime...

On today’s show we are looking at the underlying data that is being used as central in the narrative about the health of our economy and the flight against inflation.  The message out of the White House and the Fed is that the economy is strong, too strong even. Look...

Andrew Crebar is the CEO of Honey Bricks, a platform for enabling young, newly accredited investors to invest in private placement real estate projects. On today's show we are talking about this specific high income earning demographic and how they are looking...

Todd Sulzinger is based in Redwood City California. He spent much of his career in finance roles in the tech industry before moving into the world of real estate investing. On today's show we are talking about the Silicon Valley Bank failure, mobile home park...

On today’s show we are looking at how AI can be a useful research tool for real estate investors.  A lot of emphasis for AI tools has been for mining the universe for information and writing new material such as blog posts. No doubt, there is some utility there. But...

On today’s show we are taking yet another look at the macro economic environment. Virtually everything in the world of real estate investing is being dominated by the macro environment.   The Federal reserve increased the Fed funds rate another 25 basis points. They...

On today's show we are looking for tangible evidence of what investors are looking for. ------------ Host: Victor Menasce email: podcast@victorjm.com

The Federal Reserve published an ironic report on the day that the FDIC took control over the First republic Bank. The report was all about the demise of Silicon Valley Bank. It was a retrospective of sorts on what contributed to the failure of the bank and what...

 Our book this month is called “Thinking Fast and Slow” by Daniel Kahneman. Daniel Kahneman is a professor of experimental psychology at Princeton University. He is the recipient of the Nobel Prize in economics for his life work in psychology and how decisions are...

Taylor Loht is based in Richmond Virginia where he has secured a FINRA broker-dealer license and is active raising capital for sponsor projects across the nation. So far he has raised $200M in capital. You can learn more and you can connect with Taylor at...

Today's show is a live talk from The Real Estate Guys Secrets of Successful Syndication Conference in Dallas Texas, held on March 23. We're talking about the principles of raising capital with investors. -------------- Host: Victor Menasce email:...

This question comes from Steve in Utah. Two years ago I bought a subject to rental property that has a loan with it that has a 2.25% interest rate fixed for 30 years.   A great deal for me!!! however back in November I noticed the loan servicer had changed.    Today...

On yesterday's show we talked about how there are signs of monetary deflation present in our economy. We discussed the definition of what is inflation and what is deflation? Today's show is the second in a two-part series on monetary deflation. On today’s...

On today show, we are looking again at the macro environment. So much of what is happening in the world of real estate is being dominated by the macro environment, which is why we keep coming back that. It’s specifically on today show we are looking at a definition...

On today’s show we are talking about how cities are getting pressure to perform better when it comes to turning around zoning and building applications. Many cities have earned a terrible reputation for being bureaucratic nightmares when it comes to getting a zoning...

Some days it seems like we live in an upside down world.   Today’s show fits in the category of “You can’t make this stuff up.” It’s just too bizarre for words, and it would be even funny if it were not for the fact that this is real. Charlie Munger, who is Warren...

George is back in NY after spending the winter in Florida. On today's show we are delving into a topic that is explained briefly in a couple of pages in George's book on negotiation. His book is based on the course syllabus from when he taught negotiation at...

Jeff Scheckter is now based in Nashville after building a sizeable turnkey rental portfolio in Indianapolis. On today's show we are talking about how the macro conditions are affecting turnkey rental assets and how it might be time to pivot into other...

On today’s show we're looking at some of the most common mistakes that I see multifamily investors make in their underwriting. I'm presented with opportunities for multifamily projects of all shapes and sizes across many markets on a daily and weekly basis....

On today’s show we are taking a look at some economic metrics that are not getting much airplay or analysis in the mainstream media. But we real estate investors need to pay attention.   We continue to have both government and Fed officials talking about how the...

On today’s show we are going back to 1910. These were the origins of the formation of the Federal Reserve during a secretive meeting on Jekyll Island off the coast of Georgia.  Leading up to the fateful meetings that took place over nine days, there had been a series...

On today’s show we’re asking about how crime and lawlessness is bad for business, bad for rent, and bad for real estate investment.  -------------- Host: Victor Menasce email:...

Switzerland is known for playing a central role in the global financial system. The nation’s stance of neutrality has earned it a position of trust in the financial system and the monetary system.  It’s no surprise that the Bank of International Settlements is based...

Brennen Degner is based in Denver Colorado where he is a principal at DB Capital Management. They invest in multi-family assets in four states through the southwest part of the US. On today's show we are talking about the capital markets and the current market...

David Chan is based in NYC where he specializes in agricultural land investing on a nation wide basis. You can learn more at their website farmtogether.com. David shares some eye opening statistics about agriculture in the United States. This is a truly fascinating...

Today’s question comes from Josh at Virginia Commonwealth University I’m appraising a 504-bed student apartment complex in a tertiary college market in Virginia. The property is unique, and recent comparable sales and reliable market data are scarce. I enjoyed your...

On today’s show we’re going to ask a number of “What if” questions. I believe it’s important to stop and think strategically about what is happening in the business world that can materially affect your own business. But before you can think strategically, you need to...

This past week, Marcus & Millichap published a new report on BORDER-PROXIMATE INDUSTRIAL  As we talked about a few weeks ago on the podcast, there is growing demand for local manufacturing, or manufacturing located within the continent of the North America. Global...

On today’s show we are looking at human behaviour to try and understand what is happening in the housing market.  It’s normal to associate a falling market with falling transactions, rising inventory, and falling prices. According to the laws of supply and demand,...

On today’s show we are talking about a spring-time ritual. The operation of the sump pump is linked to spring showers and the spring thaw.  All that water being held in the frozen ground or on the surface lets go all at once it seems and the water table rises quickly....

Franco Perez is based in Silicon Valley where he invests in mobile home parks. On today's show we are talking about the mobile home park strategies that Franco prefers in today's market conditions. To connect with Franco and to learn more visit franco.tv or...

Damion Lupo hails all the way from Birmingham Alabama where he specializes in retirement accounts. But not just any retirement accounts. He specializes in retirement accounts that maintain checkbook control with the beneficiary. On today's show we are talking...

Michael asks: I listened to your podcast about bridge loan default/buying opportunities that would hit the market.  Was this message mostly for big institutional investors or for anyone investing in real estate?  I was wondering how to find these opportunities to be...

Today's show was delayed by a widespread power and internet outage in Ottawa as a result of an ice storm. There has been a lot written in recent weeks about the US dollar and the potential loss of the reserve currency status. Rumors of the BRICS nations forming...

On today’s show we’re going to speak about a question that I received during a live zoom meeting. The question was about whether I thought it was a good idea to raise capital in the US for large scale industrial projects in India. The thesis was that there is a large...

On today’s show we are taking a look at a new law in the city of Los Angeles that has been recently amended called SB8.  This new rule states that no new development can take place that demolishes housing whether occupied or vacant unless replacement housing is...

Why is our money supply shrinking so much? Will that precipitate a credit crunch? On today's show we are looking at QT and what is driving it. -------------- Host: Victor Menasce email:...

Brad Cartier specializes in developing new "missing middle" multi-family apartment buildings in secondary and tertiary markets within a radius of Ottawa Canada. On today's show we are talking about the merits of missing middle investment opportunities. To connect...

Dr. Pippa Malmgren is a very well informed economist who has served as a former presidential adviser and a national security advisor to the Joint Chiefs of the US military. She is extremely well connected and offers insights that are not being shared in the mainstream...

Governments across the US and Canada are starting to become creative when it comes to addressing the issue of affordability.  Rather than a straight cash handout, different schemes are aimed at assisting financing. California, Utah and Idaho are three states that have...

Tracy from Washington State asks: What does one do when a City imposes/interprets a code ruling wrong? I have a situation where a City official did not follow the standard guidelines for fire protection in a multifamily unit. Normally if buildings are located 10 feet...

 On today show, we are looking at how human behaviour can vary predictably damage to global banking system. There are many examples and many repeated opportunities in history to see this phenomenon at work. But on today show, we are going to look at a very recent...

On today’s show we’re talking about another missing piece in the puzzle over the evolution of money.  Crypto-currencies were launched with the promise of replacing FIAT currency with a crowd sourced anti-establishment, off-grid alternative. The technology is rooted in...

On today’s show we are looking at some currents that are underneath the surface which to me are very concerning. We have a history as a society of taking quantum steps to relinquish our individual rights in response to a crisis or even in some cases for convenience. ...

Today's show is coming to you live from the Secrets of Successful Syndication Conference in Dallas. We're talking about the current market reality. ------------ Host: Victor Menasce email:...

Will Matheson is based in Charleston South Carolina. On today's show we are talking about student housing and the strategies that make for successful investment in that specific segment. To connect with Will and to learn more, visit his company website at...

On today's show, Roland asks: I listen to your podcast daily. Thank you for sharing your insights and bringing together a depth of knowledgeable people to share their real estate insights. George Ross is my favourite! I am writing to you because I am in a...

On today’s show we are answering a simple but important question: Is the market ignoring the Fed?  What does the yield curve tell us about the recent 0.25% rate increase  announced by the Federal Reserve on Wednesday.  The shape of the yield curve can tell us a lot...

 On today show, we are looking at why we might be experiencing a global debt crisis. So far virtually nobody in a position of authority is admitting that we have a debt crisis. As I said, on the show a couple of days ago, when a balloon bursts, it’s very often the...

We have had several investors ask us how we launch a new investment offering. On today’s show we are going to take a look under the covers for what it takes to launch a webinar to inform investors of a new investment opportunity.  When we have an investment...

 On today’s show, we are looking at the difference between acute pain and chronic pain. With acute pain, such as you might experience when you hit your thumb with a hammer can be all consuming. You can think of nothing else. Acute pain is usually temporary. But while...

Dan Lazar is coming to us from Melbourne Australia. He started his journey as a tennis player and eventually became Romanian national champion. Today, he's building homes in Melbourne. On today's show we get an update on what is happening in real estate in...

On today's show I'm speaking with George Ross about the current volatility in the banking system. His perspective is extremely helpful for those trying to make sense out of what's happening. If you would be interested in participating in my monthly...

Today’s email comes from Adam in Riverside, Ca. Victor!  Your podcasts are the best!  I continue to be a proud, loyal listener.  Thank you for continuing to deliver fresh and relevant content. Back in October, several of your podcasts foreshadowed concerning activity...

Today's question comes from Zach who writes: First, I love your podcast and get great value from it. I really appreciate your straight forward analytical approach and using data to back your conclusions, not just opinion as is so prevalent in todays media. My question...

On today’s show we are asking the question, “Why do we need smaller banks?” After all, other countries seem to be dominated by a smaller number of very large banks. Why not rely on big banks and get rid of all the small banks altogether? In the wake of the great...

On today’s show we’re taking another look at what is happening in banking and at some of the risks that are inherent. The leaders at SVB made a strategic error. They failed to hedge their interest rate portfolio. After years of low interest rate policy and continued...

On today show we’re taking a deeper look at the Silicon Valley Bank failure that occurred on Friday of last week. This spectacular bang failure has been making headlines and I am not going to merely repeat the types of things you might be reading on the front page of...

Marco Santarelli is based in Laguna Beach California. From there he manages portfolios of turnkey rentals across more than 20 markets in the US. On today's show we are talking about the current market conditions. To connect with Marco, visit noradarealestate.com....