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 exceptionally good way of creating value in the market. What we mean by this strategy is to exploit the many dividing lines that emerge in real estate sub markets where on on side of the line there is a hot expensive neighbourhood and on the other side is an economically depressed area. Often these lines are arbitrary. They exist for no particularly good reason. If you redevelop on the wrong side of the line, then guess what? The line has moved and is now on the other side of your property. Because there are no comparable properties on the poor side of the line, you will get a valuation similar to the hot neighborhood next door. Today I want to revise the description to include one very specific special case. If the line is a municipal boundary and the city is a growing city, you might want to consider property that is just outside the municipal boundary. If the city has a history of annexing land and growing its boundary, this can also be another opportunity to create tremendous value. ------------ Host: Victor Menasce email: [email protected]

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 support services that assist builders. Any construction site will require some basic services including safety fencing and portable toilets. Something as simple and commodity as portable toilets has become incredibly difficult to source. As a developer, you would never even pay attention to that, or imagine that toilets would be a constraint. Well it turns out that on one of our projects, we had three companies in the past week decline to provide the service to our projects because they were not taking on any additional business from now until well into the new year. They were completely short staffed and could not handle any additional business. It took no less than 6 phone calls to find a single company that would provide a portable toilet to a construction site. This is shocking. A portable toilet is a requirement for a construction site. The building inspector will shut you down if you don’t have one. We had several other suppliers of construction equipment decline our business. They simply didn’t have the staff to take on additional work. How do you solve it? Listen and find out. ---------------- Host: Victor Menasce email: [email protected]

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 materials, either directly, or indirectly through a subcontractor. When buying through a subcontractor, you often pay more because the subcontractor is simply passing the cost on to the end customer. If prices are elevated, then you can feel the full impact of those higher prices, even if the various supply chains are inefficient. Subcontractors have next to no incentive to shop around for low prices. As a developer, you are faced with several difficult choices. Do you allow your subcontractors to quote and then purchase materials, or do you take on that procurement function in-house? If you decide to assume responsibility for purchasing materials, what supply chains do you want to utilize?

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 [email protected].  -------------------- Host: Victor Menasce email: [email protected]

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 seems to be what Zillow has done over the past year with its Zillow Offers business. Let’s recap how Zillow offers was supposed to work. Zillow was using their really sophisticated software algorithm that produces the Z-Estimate to find value in the market. Zillow got into the house flipping business with Z-offers. The idea was that Zillow would buy properties in the open market, conduct a very light rehab, and then sell them in the open market for a profit. They were not going to be creating much in the way of real value, as a stated objective of the program. So the only way for them to generate a profit would rely upon buying properties at a discount to the market value. What Zillow would do is they would look at comparable properties in the market and then buy those it considered to be a bargain based on its algorithm. What could go wrong? Listen to find out. --------------------- Host: Victor Menasce email: [email protected]

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 nothing is the default. The world of sales and marketing is full of techniques designed to cause a buyer to act now. You have no doubt seen the call to action on the website. It says, “Call now” or Act now, or Order Now. The most common technique is called FOMO, and acronym that is short for fear of missing out. That’s why Black Friday Sales are effective. Black Friday only comes around once a year. Why could there not be a Monday sale, or a December 12th sale? Because if they made the reason truly arbitrary with no plausible excuse, then the manipulation would be exposed for what it is. ------------------ Host: Victor Menasce email: [email protected]

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 in the core of business district, or it can mean a ski chalet in the mountains or a cottage on the lake. All three of these are going to be affected by the dynamics of global travel. Travel is starting to rebound on a global basis. It is a nuisance to spend a few hundred dollars on covid tests in order to board an aircraft. Airfares were low in the summer in an effort to bring people back into air travel. But rising fuel prices and the financial pain of the past 18 months means that airlines have to charge more in order to survive. Hotels have struggled with incredibly low occupancy throughout the pandemic. But here too the numbers are improving. Several of the largest hotel brands Marriott, Hilton and Hyatt reported their numbers for Q3. Occupancy rose 23.4 percentage points from 34.8% in Q3 of 2020 to 58.2% in the third quarter of this year. While occupancy may be up, nightly rates are still low as hotels try to compete for too few travelers. The folks at Hyatt reported their financials yesterday. Their revenue per available room is down 31.8% compared with 2019, which is slightly better than the industry average which is still down 35.5% compared with 2019. ----------------- Host: Victor Menasce email: [email protected]

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 neighborhood plan and how they affect the zoning. The property needs to be annexed into the city to get the residential zoning. I’m also told that even though I’m in the county, the county road at the front of the property will also need to be annexed into the city and affect the development. Hoping you can clarify what I need to do? This is a great question. This is a complex area. It’s made complex only by the layers upon layers that can come into play. ------------------ Host: Victor Menasce email: [email protected]

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 segment analyses I have seen. On today’s show we’re going to dive into a few of those markets to contrast what is happening.

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 town to take over the management of the plant. But the plant is struggling. Deliveries are late, the plant is losing money, and customers are unhappy. Senior management is threatening to shut it all down in less than 3 months if things don’t improve. Along the way, our hero encounters a scientist named Jonah who leads our protagonist through the thinking process to discover the principles that lead him to solving the problems that are plaguing his organization. In the story, Jonah clearly sees through all the talk of efficiency and correctly identifies the business is in trouble. The problem is that the business is being measured against the wrong goals. By focusing on efficiency and lowest cost per component, inventories were building in virtually all areas. Work in process inventory was growing, finished goods inventory was growing, but still shipments of some products were continually late. The theory of constraints centers around practical methods for identifying solutions to business problems by deciding: What to change What to change it to How to cause the change The specific book I’m recommending today is the first in a series of books that apply to theory of constraints to specific business problems. This first one is a manufacturing plant. But the method can be applied to project management, and to sales, and retail management. The theory of constraints is a universal way of thinking that can be applied to virtually any business problem. ----------------- Host: Victor Menasce email: [email protected]

Arjan Erkel is based in Rotterdam. His story is one of the most powerful stories of overcoming adversity. While on a mission with Doctors without Borders, he was taken hostage and held in captivity for nearly two years.  He is an extraordinary person who has truly embraced life and is making things happen.  He is also a founder of an organization combatting human trafficking called Free A Girl. So far, they have liberated more than 5,000 from sexual slavery. To learn more or to contribute, visit freeagirl.org. ------------------ Host: Victor Menasce email: [email protected]

There is always something, some constraint, holding back progress. On today's show we're talking about how the Theory of Constraints can be game changing. Today's show is also a prelude to the book of the month coming up on November 1.  ----------------- Host: Victor Menasce email: [email protected]

On today’s show we’re talking about how to hire. I can tell you that I’ve hired hundreds of employees over the years. We have recently brought several new members into our team and have focused on hiring for character. You can’t train character. People either have the kind of characteristics and attributes that will mesh with the organization or they don’t. You can’t train people to be committed. They either have that or they don’t. I’ve found that whenever there was a bad hire, it’s because we focused too much on skills and not enough on attributes. I’ve heard from so many that hiring is difficult this year. I see the help wanted signs everywhere. I have no doubt that for tasks with low personal development and low impact, hiring will be difficult. There continue to be a lot of people out of the work force. Many of these people are those who have chosen to stay home for family reasons. If you want to be hiring in 2021, consider that you need to offer more than just an hourly rate. You may want to consider engaging the heart, mind, and personal growth of your new team members. ----------------- Host: Victor Menasce email: [email protected]

On today’s show we’re talking about the anxious buyer. The anxious buyer is desperate to get a deal done. They are usually lacking local relationships in the market and are trying to buy using the public MLS. They’re hoping to get a deal, but are finding the environment too competitive. The anxious buyer behaves like the last waffle is about to disappear from the breakfast buffet. But the truth is, there is probably another pan of waffles in the kitchen and a fresh batch will appear in a few minutes. The truth is, the marketplace is truly an all you can eat buffet of opportunity. -------------- Host: Victor Menasce email: [email protected]

On today’s show we’re talking about mineral rights. When we buy property, the mineral rights are usually part of the property itself. However, this is not a given. Often the mineral rights are separated from the property and can be subdivided in any number of ways. For example, you might separate the oil and gas rights and sell those separately from the property to one entity. You could sell the water rights separately. You could sell the coal rights, and the gypsum rights. You might sell the remaining mineral rights to another party. There is no specific rule that says you have to do it any one way. We are involved in the due diligence on a property where the title report consists of 259 pages. Buried deep in those pages are references to dozens of documents contained in the county records that grant certain rights to the holder. ---------------- Host: Victor Menasce email: [email protected]

On today’s show we are talking about the short term energy crisis that has gripped much of Europe and parts of Asia. You might be wondering what energy has to do with real estate. But the economy is inextricably linked to energy, and real estate is inextricably linked to the economy. We have to remember that we are in the shoulder season between the extremes of summer heat and winter cold. This is the time of year where air conditioners are largely turned off, and heating systems have yet to be switched on for winter. So why are we in such an energy pinch? It turns out that energy producers scaled back production during the pandemic. We had such a glut of fuel in 2020 that for a short time, oil prices even went negative as oil futures contracts expired and the owner of the contract had no place to store the oil they just purchased. Global oil storage was at capacity. People were buying or renting rail cars and oil tankers just to have a place to temporarily store their new purchase in the face of collapsing demand and prices. Fast forward a year and global supply chains are out of balance. This includes the energy supply chain. On top of that, unusual weather patterns in Europe reduced the production of renewable energy. Rainy weather in parts of Europe reduced the output of solar systems at the same time that the usually windy North Sea was calm. The massive wind turbines that dot the waters in the North Sea sat idle, shifting demand to the conventional fossil fuel methods of power generation. The problem with wind and solar power is that it helps reduce your average production of energy from fossil fuels, but you still need to supply peak energy the old fashioned way.

Our guest today is Peter Badger with Farm Folio. Peter describes a unique offering in the market that seems aimed at reducing the risk associated with investing in agricultural real estate. They have vertically integrated the entire supply chain and eliminated the middle-man. Today's show is a unique perspective on agricultural land.  To connect with Peter, you can email him directly at peter AT farmfolio.net or visit farmfolio.net.

On today’s show we’re talking about the transition from rural to suburban. We have several projects underway that are making that transition from agricultural land into urban subdivisions. When we think of suburban streets, we often think of tree lined streets with curbs and sidewalks. What we don’t see all the utilities that are buried beneath the ground, each with their own infrastructure. The planning process requires careful attention to each of these. Because they’re hidden, they’re largely taken for granted by the public. But as a developer, each of these require careful planning. The cost of most of this infrastructure is born by the developer and usually dedicated to the city or the utility. In a rural setting, most houses are nearly off-grid. The only true requirement is for electricity. Water usually comes from a well on the property. Wastewater is treated locally using a septic system. Stormwater management relies on surface drainage and gravity. Internet relies on wireless or satellite solutions. Heating is either provided by electricity or by large cylinders of propane gas that get refilled a couple of times a year. On today’s show we’re going to construction a budget for the cost of servicing a typical suburban lot and compare that with the cost of a typical rural lot with well and septic instead of municipal services. So here are the 11 services that are required in almost every setting. 1) Electricity 2) Water 3) Sanitary Sewer 4) Storm water sewer 5) Optical Fiber which has largely replaced telephone 6) Cable TV 7) Natural Gas 8) Street lighting 9) Fire hydrants 10) The road 11) Sidewalks ------------------ Host: Victor Menasce email: [email protected]

On today’s show we’re talking about how to qualify a waterfront property as having potential for development. This show was the result of several inquiries from a friend who is looking to build a waterfront permanent residence on a desirable body of water near a major city. Waterfront properties have a reputation for being expensive. These properties are in short supply compared with inland properties and they typically sell at a premium to the market. It’s easy to understand why, if you love the water. Many of the existing waterfront homes were built at a time when less regulation existed. Today, protection of inland and oceanfront waterways has quite properly brought additional regulation in order to protect the local ecology and wildlife. Gone are the days when you could bring in a few truckloads of sand and voila you have an instant private beach. Those types of shoreline modifications were common 50 years ago, but are prohibited today in most areas. There are nine considerations that are specific to waterfront properties that inland properties generally don't have to deal with. On today's show we review all nine of these specific items.

Today is another AMA episode (Ask Me Anything). Our question comes from Magin who writes. I have 3 young adult sons (18, 19 1/2 and 21). I'm proud to say They are interested in investing and are all participating in the upcoming Real Estate Investor Summit in June 2022.  I have no doubt that all three of my boys are going to be "rock stars" when it comes to investing!  That being said I was wondering as well connected as you are, if you  could recommend some "low entry" investment opportunities for young adults?  Of course they would all need to do their own due diligence. Thank you so much for your podcast! Magin, this is a great question. We’re going to brainstorm a few ideas on today’s show on how that might be possible. What I’m about to describe probably doesn’t exist. If it does, I haven’t heard about it. But we are literally having a live brainstorming discussion on the air and maybe you will discover some fatal flaws in these ideas. Ot maybe it will stimulate additional ideas that you could implement yourself.

Today’s question comes from Paul in our own development team. Paul asks, When is the right time to hire more people, either inhouse or as consultants to manage projects in order to save time and gain leverage within the business? Working directly on projects has given me such a huge education The value to me in personal growth in doing those projects directly has been huge. I can’t help but wonder that if we had hired a local consultant, would we have experienced the same bureaucratic delays and maybe had fewer iterations of the design? Paul, This is a great question. This is the classic insource versus outsource question that companies the world over deal with on a regular basis. In my view, if the goal is to grow the capability within the organization, you can’t accomplish that with rented talent. ------------------- Host: Victor Menasce email: [email protected]

Today is another AMA episode - "Ask Me Anything". Tom Blake asks, “First things first, your podcast is fantastic. What are your two favorite creative transaction strategies that maximize the likelihood of finding a win/win outcome between you (as purchase, partner, option holder, etc.) and owner, and why?” Tom, this is a great question. If you were to take a class in creative strategies, you would find that seller financing probably tops the list of strategies that are routinely taught in the world of investing. There is no doubt that seller financing is a powerful and effective tool. But before discussing a strategy, I want to get at the root of why you would want to employ a particular strategy. Many rookie investors have not mastered the art, legalities and the science of raising capital. So they resort to seller financing because it makes the problem of raising capital and qualifying for bank financing much easier. If a creative strategy happens to save us the effort of raising capital, then great. But that’s not a major factor in our decision making. When we look to get creative it’s because we’re trying to solve a problem, specifically in the area of risk. On today's show I lead you through a thought process of how we approach creative transactions. --------------- Host: Victor Menasce email: [email protected]

On today’s show we’re re-playing a recording with special guest Gene Guarino. If you’ve been listening to this show for a while, you’ll know that we are developers of assisted living facilities. Gene was the founder of the residential assisted living academy which has served as a source of momentum in the development of the residential assisted living product in the marketplace. Sadly, Gene Guarino contracted Covid-19 several weeks ago and this week Gene Guarino lost the fight against that infection and is no long with us. Today’s show is a replay of an earlier interview with Gene as a tribute to him and for all that he’s done for the world of senior housing. Gene you will be missed. Here’s my conversation with Gene Guarino. ---------------- Host: Victor Menasce email: [email protected]

On today's show I'm coming to you live, at street level, in central Rome. We're talking about how things are different here in Italy compared with the US and Canada. ------------------ Host: Victor Menasce email: [email protected]

On today’s show we’re answering another listener question. Emilio from El Paso Texas writes, I continue to enjoy your podcast every morning. I want to ask you if you had any references that you could share regarding how to adequately price an option to buy a piece of land. Any help would be appreciated. Emilio, this is a great question. Let’s define first what we mean by an option. An option is quite simply a contract where you the buyer have the choice to buy a property, and the seller has the obligation to sell the property to you if you exercise your option. But if you don’t exercise the option within the option period defined in the contract, the contract is cancelled. There are several ways you can structure an option in order to meet your specific needs as a buyer. Depending on the nature of the project, you may require more or less time to exercise that option. The terms that will be acceptable to both buyer and seller are a function of the amount of time you want the option to remain in effect. In a lot of cases, if that conditional period is short, in the range of a few weeks, maybe even a couple of months, you might pledge a fully refundable deposit. In that case, you are getting a completely free look. But if you’re looking for a longer time period and the seller actually wants to sell the property, then they will likely demand a higher payment in exchange for the uncertainty in the sale of the property. I often see contracts written where there is a refundable conditional period of say, 90 days. That’s a free option. You might then negotiate a few extensions into the conditional period where there could be a hard payment paid to the seller in exchange for the extension. Look at the contract from the seller’s perspective. They have to endure the uncertainty of the property not selling at all, and in the meantime, they’re barred from selling the property to anybody else who might come along with a firm offer. Most sellers are uncomfortable with that uncertainty. So if they are going to endure that uncertainty they will want to be compensated for it. As a minimum, you want to figure out what the holding cost would be for that period of time and consider offering an option consideration that would cover the holding cost. At least the seller’s holding cost goes to zero and the impact of continuing to own the property would go to zero. It all comes down to understanding the seller’s needs and negotiating a win-win deal between you. There is no one set formula. --------------- Host: Victor Menasce email: [email protected]

Today's question comes from Chris in Florida who asks, I’m considering a property South of Houston for an industrial equipment storage facility. The address was located in the email. I have a good understanding of what that segment of the market needs, but have limited knowledge of the Houston area. Chris, this is a great question. The specific location that you’ve highlighted is not a good location in my opinion. It’s too far South West of the city and is at the edge of the urban developed area. It’s not on the way to anything. It’s about a 15 minute drive from the nearest freeway which connects Houston and Galveston. In my opinion, owners of industrial equipment will not want to add a half hour round trip to the daily movement of equipment to be that far away. The additional cost of fuel will erase any savings that might be possible with the lower cost real estate at the extreme edge of the urban boundary. It’s true that there is no zoning regulation in the Houston area. That means that you can literally build anything anywhere. But the lack of government restriction doesn’t mean that your product will be economically viable in any location.

On today’s show we’re talking about the acute shortages that have been created by the massive shift in our economy over the past year. I hope to convince you on today’s show that the price inflation we are experiencing is not temporary. ------------------ Host: Victor Menasce email: [email protected]

Globalization has made it possible to squeeze inventories down to nothing. Just-in-time delivery means these hyper-efficient, hyper-optimized supply chains can deliver the promise of owning no inventory and still meeting customer demand. Offshoring was the name of the game. First, Japan was the manufacturing location of choice. When Japan was too expensive, companies moved production to China. When China was too expensive, production moved to the Philippines and Vietnam. All of this worked, until it didn’t. The supply chain disruptions have shown just how many links there are in that supply chain and how many opportunities exist for delay and outright breakdown. -------------------- Host: Victor Menasce email: [email protected]

Today we are talking about the state of assisted living across the nation. The mere mention of the terms senior housing, and assisted living generates a reaction from most investors. The natural reaction is to say something like “Oh senior housing is a hot area. There’s a lot of money to be made in assisted living.” That’s the urban wisdom. Beneath the surface, the reality is more complex. In most primary markets, the entire assisted living industry had built ahead of the demand with the expectation that demographics and the aging baby boomer population would catch up and bring additional demand in the coming decade. There are not too many industries where you can increase supply a full decade ahead of demand. That can be an effective strategy for grabbing market share. It can also be a recipe for financial failure. On today's show we segment senior housing into specific vertical specialties and see which ones are working and which ones are not. 

Stacy Rossetti travels the country with her family in an RV and acquires distressed storage facilities in secondary and tertiary markets. She does it the old fashioned way, over a cup of coffee with the owners. These tired owners invariably just want out of the day to day of running a small business.  There are so many ways to invest in real estate. Lifestyle design can be at the heart of your personal investing philosophy. To connect with Stacy and to learn more visit StacyRosetti.com -------------- host: Victor Menasce email: [email protected]

Every calendar quarter we take an entire day with the leadership team offsite to work on the business. This is an opportunity to pause and take stock of where we are and make course corrections if necessary. On today's show we're reviewing a snapshot of the past 90 days and getting input from members of the leadership team. Do you take the time to implement a culture of continuous improvement?

On today’s show we are talking about the land lottery. Now I’m an investor at heart and I’m not a fan of gambling. When we think of a lottery, there is a low cost to play the game and the potential payoff is huge. Naturally the odds of winning are low. But emotionally the payoff is so large that many people still choose to play the game. The expectation value is high enough that people see value in spending a few dollars even if statistics says they should not. Ok so we know what a lottery is. What does this to do with land? The value of land is directly a function of what you can do with it, combined with the demand for the finished product in that location. Land can be worth only a few thousand dollars an acre if all you can do is grow grass on it. But it can be worth a few thousand dollars per square foot if it is in the highest demand areas of New York, London or Paris. Land is land, but you can transform land into that winning lottery ticket through the zoning and entitlement process. But unlike a real lottery, you don’t put any investment in a piece of land that has a low chance of being improved. Imagine if you could take a look at all the lottery tickets and discard the ones you know are not winning tickets. Now you are left with the ones that will at least win something. I don’t know if I’m over stretching this analogy. Maybe I am.

On today’s show we are talking about adapting work habits when you travel. This month I’m spending the entire month away from home and will be working from the beautiful ancient city of Rome. Working on a different time zone means that I have the mornings to myself and am able to get those focus tasks done without interruption while everyone is still sleeping in North America. Meetings don’t start before 3PM for me which is 9AM east coast time. The most difficult thing to manage is the time zone to the west coast, where we have at most one hour of overlap. 6PM in Europe is 9AM in California and Washington. If I don’t establish boundaries, then the temptation exists to work at all hours of the day.

You might be wondering how the Evergrande debacle in China happened. I’ve been to China and observed first hand how commercial construction is broadly undertaken. Once you understand what I have seen first hand, it’s little surprise that there are issues. ---------------- Host: Victor Menasce email: [email protected]

On today’s show we’re talking about getting trapped in the wrong orbit. Now I realize that when I use the word wrong, it sounds like I’m making something right and something else wrong. What that really means is getting trapped in an orbit that’s different from what you might have intended. This type of thing happens all the time in all kinds of industries. It stems from having imprecise goals. That lack of clarity can be a trap. ----------------- Host: Victor Menasce email: [email protected]

On today’s show we’re talking about the most boring of bureaucracy and how it’s designed to help you with your due diligence. A few months ago, we spoke about a particular disease called versionitis. This is when the version of a document is out of date and you make decisions based on an out of date or unofficial version of a document. There can be only one golden copy of a document, just like there can be only one copy of your passport. That’s incredibly important in the world of real estate investing. That’s why the county recorder office has only one job to do. Their job is to maintain official records. ----------------- Host: Victor Menasce email: [email protected]

Gary Boomershine made the decision to cut the ties to real estate in an expensive primary market in exchange for a simpler setting. On today's show we talk about that move and his predictions for the next period in this unprecedented wave of uncertainty.  To connect with Gary, visit realestateinvestor.com. To get a copy of his upcoming book, visit realestateinvestor.com/growth.  --------------- Host: Victor Menasce email: [email protected]

Why do we need an org chart? Does it really help bring clarity? It might impress customers, but does it really inform who is doing what functions? The book this month is "Holacracy: The new management system for a rapidly changing world." by Brian Robertson.  host: Victor Menasce email: [email protected]

This question comes from Jeremy in Virginia. He asks, “I’m working on a concept for a light industrial warehouse building on a property that has some environmentally protected zones. The properties on either side are developed and are zoned light industrial. In addition, there is a tremendous amount of development in the immediate area. I think the main reason this property hasn’t been developed is the presence of the wetlands on the property. Would you consider developing it, and if so under what conditions? ------------------- Host: Victor Menasce email: [email protected]

Amazon has made a few headlines with the opening of bricks and mortar stores. Amazon is getting retail real estate. The move by Amazon has been seen as a vindication for traditional retailers who are saying “You see, retail is not dead”. Even online Amazon is coming back to retail. Some people are confused by Amazon and what makes them so successful. It’s not that they’re an online store. They won’t be successful because they have a retail channel. That didn’t do it either. The thing to remember is that Amazon is a digital startup company. Amazon still behaves like a startup despite its massive size. Amazon is a software company that is not constrained by the history. It’s competitive advantage is that they’re willing to make data driven decisions. ------------- Host: Victor Menasce email: [email protected]

Economic downturns put entrenched players with market share on the defensive. They experience a drop in revenue and are doing everything they can to hang on financially. Those who can go on the offensive can acquire great business opportunities. Everything seems to be on sale. That’s what it was like in the wake of 2008. The pandemic however, did not create those conditions in a broad sense. On today’s show we’re talking about the economic impact at an airport. --------------- Host: Victor Menasce email: [email protected]

Even though the pandemic is coming to an end, many restaurant owners are having a hard time hanging on. On today's show, we're taking a look at whether restaurants are a worthwhile venture.  ----------------------- Host: Victor Menasce email: [email protected]

Neal Bawa is the CEO of Grocapitus Investments. On today's show we're talking about the moves in the industry to make real estate more liquid. While the pieces are not all in place yet, Neal makes a compelling argument for where the industry is headed. To learn more about Neal, simply search for his name and you'll find numerous videos and webinars. You can also connect through his investment firm grocapitus.com ----------------- Host: Victor Menasce email: [email protected]

Today's show is a live talk from Dallas on a specific case study of a recently completed assisted living project. This talk is viewed through the lens of product design. We often think we are constructing a building. In truth, we're designing a product. This is a subtle but important distinction. -------------------- Host: Victor Menasce email: [email protected] 

On today’s show we’re talking about the connection between energy prices and construction decisions. We typically make design decisions for new construction based on an economic break even analysis. In an environment when gas prices have doubled in the past year, and energy prices in Europe have increased 40% in the past two weeks, there can be a significant impact on the time to break even. If you cut the time to break even in half, maybe it changes the conclusion. -------------------- Host: Victor Menasce email: [email protected]

On today’s show we’re talking about global economic warfare. I’m here to tell you that interest rates are being artificially held down, but that we will see an end to that in a matter of weeks. The tools that governments use to stimulate the economy are becoming less and less effective. In essence, central banks and governments are out of ammo when it comes to influencing the economy. --------------------- Host: Victor Menasce email: [email protected]

What's it like to invest in China? There are plenty of risks investing in the US. But China has a special breed of risks. 

Canada held a Federal Election yesterday. Real Estate issues were front and center. But none of the parties seemed to be truly addressing the root cause issues. This was dog whistle politics at its best. Create a diversion that makes for good press coverage without actually doing anything.  ------------------- Host: Victor Menasce email: [email protected]