Today's show is a recording of a talk on how to raise capital at a live event at The Real Estate Guys Syndication Conference in Dallas Texas. ------------------------- Host: Victor Menasce email: [email protected]

On today’s show we are talking about how to handle delays. Whether you are stuck in traffic, your flight was canceled, your supplier just told you that that a critical component is out of stock or a ten minute appointment is going to take a month, delays seem to be pervasive. Delays cost money, real money. -------------- Host: Victor Menasce email: [email protected]

On today’s show we’re continuing our series on inflation. Do far this week we’ve studied what the real rate of inflation is, why our governments have got themselves into a debt trap, and what people on fixed incomes are facing in an inflationary environment. Today we’re looking at what you can do as an investor to protect yourself against inflation. ------------ Host: Victor Menasce email: [email protected]

On today’s show the focus is what people on fixed incomes will do in the face of inflation. Most people in the general population don’t have the entrepreneurial skills to design their own income streams. If they experience a loss of income, the tools at their disposal are limited. They either continue their lifestyle by going into debt, or they cut expenses. Increasing debt is a temporary solution employed by many. But this too has the effect of running out of eventually forcing financial belt tightening. We will see several forms of household cost reduction. ----------------- Host: Victor Menasce email: [email protected]

On today’s show we’re continuing our series this week on inflation. On yesterday’s show we talked about the debt trap that countries find themselves in. On today’s show we’re talking about how in my opinion the numbers being stated by governments around the world are vastly underestimating the actual rate of inflation. ------------------ Host: Victor Menasce email: [email protected]

On today’s show we’re taking a deeper look at inflation. Inflation is in the news these days and with good reason. This week we’re taking a deeper look at inflation over the course of several shows. On today’s show we’re going to talk about the very first impact, the wiping out of purchasing power for those on fixed income. So what happens when inflation gets out of control? People on main street suffer the most. There are three impacts of inflation. 1) It has the effect of wiping out purchasing power for those on fixed incomes 2) It has the effect of wiping out savings 3) It has the effect of wiping out debt with fixed interest rates. In an inflationary environment the underground economy flourishes. There are numerous examples of this. 

Robert Helms is the host of The Real Estate Guys Radio Show. He's also a developer with a rich history in developing all kinds of projects both in the US and internationally. On today's show he's sharing the story of how Mahogany Bay Village, a Hilton Curio Collection Property came into being.  You can learn more about Robert at realestateguysradio.com --------------- Host: Victor Menasce email: [email protected]

Tim Milazzo is the founder and CEO of StackSource.com. This financial technology company (fintech) seeks to revolutionize and simplify the world of commercial lending. His team is investing to making intriguing advances in the realm of commercial loans. To learn more you can visit stacksource.com. 

On today’s show we are talking about the danger of predicting the future. But we may be on the edge of a cliff that few people can truly see coming. It was only a few weeks ago that economists were predicting continued economic growth into the fourth quarter. Kids are returning to school, life is getting back to normal, and the economy should generate about 750,000 jobs in the month of August. But when the real numbers were tallied, the number of jobs created was 1/3 of the gain expected.

On today’s show we’re talking about a question that is on a lot of investor’s minds. We keep hearing from the Federal Reserve and government officials in the Treasury department that inflation this year, while elevated, is expected to be transitory. That is to say, it’s temporary. We have seen rents increase, sale prices increase sharply in response to low supply of housing. When it comes to certain commodity prices, we’ve seen prices rise and later fall based on short term supply and demand dynamics in the market place. Rents have a general tendency to stick. They tend to rachet upwards. Even older buildings tend to increase rent, but more slowly. Unless a building is truly an inferior quality living space, you can expect to see rent increases approaching the market average. The rising cost of land and the rising cost of construction are the major factors that drive higher asking rent for new buildings. ---------------- Host: Victor Menasce email: [email protected]

Today El Salvador was the first country to adopt Bitcoin as a recognized currency. But this takes us back to the fundamental question of what is money? Why would a country adopt a currency that is as volatile as bitcoin? It’s not an effective store of value, and its usefulness as a means of exchange is improving all the time, but is still difficult. El Salvador made the announcement in June a crypto currency conference in Miami to adopt bitcoin as an additional currency. The President of El Salvador said that the reason for adopting crypto was the short term benefit of creating jobs and provide financial inclusion to thousands of people outside the formal economy. The country has been using the USD since 2001. Before that, the local currency was called the Colon which had been in use since 1892. But when El Salvador adopted the USD in 2001, they didn’t remove the Colon as a valid legal tender. The majority of citizens are opposed to having their wages denominated in bitcoin due to the extreme volatility of the currency against the USD and other major currencies. There is real fear that the purchasing power can be eroded overnight. Furthermore, while you can pay your taxes in bitcoin, so far, the Salvadoran government has said that taxes will be calculated in US dollars El savador is a poor country. There is a large percentage of the population that don’t own a cell phone, and many who do own a cell phone cannot afford a data plan. So using a digital wallet without a data connection is clearly problematic. So when I hear the president of El Salvador speak, what I’m hearing is that they are having a hard time even observing the economy. Much of the economy is happening in cash, with no income reporting to central tax authorities. It’s hard to tax transactions you can’t see. Is the person bartering a chicken for a basket of mangos going to pay tax on the sale of the chicken? I doubt it. If they’re paying in cash in US dollars, are they going to inform the tax authorities?

At 11:01 AM yesterday, lightning struck one of our assisted living care homes and started a fire. The building was empty at the time of the incident and had only received its operating license a couple of days earlier.  On today's show we're talking about how you can use every single event that happens in your business as an opportunity for continuous improvement, to create a learning culture.  ----------------------- Host: Victor Menasce email: [email protected]

Today is another AMA episode (ask me anything). This question comes from David in Belize. David asks, I have several companies ( broker, agent, syndication, gift shops, personal properties) and starting a few others.  ( Nowhere near your scale for now 😊) I know you have several Companies/Projects going on  i.e., farm to table restaurant, Philly construction, several projects in Louisiana ( RV park, multi fam, retirement homes). You always talk in your podcast about having calls to your teams. My question is, how often do you have these meetings with your team(s) (Zoom or call), 1x a week, 1 time a day? Every 2 weeks, etc.??? How long do these meetings last? How do you balance your family/free time?

Chris Widener is an internationally recognized keynote speaker and author. He has authored more than 22 books. On today's show we're talking about his history as an author and a speaker.  Chris is passionate about our culture and has become politically involved lately. At the Real Estate Espresso Podcast we don't endorse any political party and remain agnostic. Heck, I'm Canadian and don't even get to vote in a US election.  I have several of Chris's books on my shelf and you can find them anywhere books are sold. You can connect with Chris at chriswidener.com or learn more about his events at americanfreedomtour.com. 

Robert Helms is the host of the Real Estate Guys Radio Show, now in its 25th year. Robert is a developer having developed projects all over the country and internationally. He hosts numerous live events on an annual basis. But after 18 months in the pandemic there is a certain amount of fatigue with virtual events. On today's show we're talking about the transition back to live events.  Robert will also be hosting the Secrets of Successful Syndication in Dallas on September 17-18. To learn more, send an email to [email protected].

This is another AMA episode (Ask Me Anything). Today's question comes from Joseph. "Hey Victor; Looking for another perspective. New tenant in SFH, I’m covering the lawn care. Tenant claims the hub cab on the car was broken by the gardener, pictures of location of vehicle and possibilities leave this situation extremely unlikely. The gardener tried to reason w/ the tenant and they are demanding he replace the hub cap. The cost of the hub cab on eBay is from $30 to $60 shipped. I am cautious about honoring something that seems very unlikely and then opening up other situations. Looking at it from the tenants perspective, and if they truly believe this happened, making good could go a long way. I was considering crediting the money to the gardener and let him pay the amount as the “good cop” and then handle any more issues down the road, if any; taking previous concerns in to consideration. What thoughts do you have?" Joseph, This is a great question. It falls into the category of how to handle any request from a tenant. This is encountered often in the world of property management. But the very name property management is a misnomer in my opinion. The property is an inanimate object and therefore can’t be managed. What you do influence is the tenant relationship. I personally favour the approach you suggested in your question. By having the landscaping contractor pay for the damage, you are staying out of the dangerous waters of reimbursing the tenant for damage, even if you fund the landscaping contractor. At the same time that you tell the tenant that you have contacted the landscaping contractor about the damage, take the opportunity to ask if everything is in working order at the property. That changes the posture from reactive landlord to proactive landlord. In the same conversation, let them know that you will be sending someone to change the air filters. When tenants feel like they are getting ripped off by their landlord, they will often find hidden ways to get even with you. They may create artificial maintenance problems to see if you are responding to their complaints. But if you are proactive and you demonstrate that you are proactive, it has a tendency to change the dynamic.

Today is another AMA episode. This question comes from Jasdeep in N. Michigan. I’m going to summarize a very lengthy question. We acquired a hotel from an absentee owner who had allowed the hotel to fall into disrepair over the past 20 years. The property had become a blight in the city. We are experienced hotel owner operators. We had a hard time finding a contractor to take this project. We did ultimately hire a contractor who acted unprofessionally and eventually worked to sabotage the project. In the ensuing dispute, the contractor caused city inspections resulting in a red tag being placed on the building, revoking the certificate of occupancy, and filed a mechanics lien on the property in excess of $400,000. They even contacted the local press who wrote a defamatory article on the hotel. I would truly appreciate any thoughts you may have on our situation. Jas this is a great question. There are a lot of moving parts to the situation. There are really several different directions that we can take this discussion. 1) What were some of the root cause failures that seem to have happened in this case? 2) How to fix the situation from where you are now? 3) Where are there possibly remaining blind spots? ----------------------- Host: Victor Menasce email: [email protected]

Today’s show we’re reviewing the book “The Hard Thing About Hard Things” by Ben Horowitz. Ben Horowitz, is the cofounder of Andreessen Horowitz and one of Silicon Valley's most respected and experienced entrepreneurs, offers essential advice on building and running a startup—practical wisdom for managing the toughest problems business school doesn’t cover, based on his popular ben’s blog. Ben Horowitz and Marc Andreesen worked together in the early days at Netscape. They were truly among the founders of the modern day internet. While many people talk about how great it is to start a business, very few are honest about how difficult it is to run one. Ben Horowitz analyzes the problems that confront leaders every day, sharing the insights he’s gained developing, managing, selling, buying, investing in, and supervising technology companies. Ben is one of the few people that truly speaks to the unspoken issues that entrepreneurs deal with.

On today's show we're taking a look at uncertainty. You can take any headline and dive deep on the uncertainty that abounds. No answers. No recipe. Today's show is a prelude for September 1, where we review the book of the month. 

Today is another AMA episode (Ask Me Anything). Johnny writes: I've become increasingly interested in key Pennsylvania cities as new markets to invest in for rental properties. The cashflow an investor can achieve in cities such as Philly, Allentown, and Pittsburgh seem sustainable and appealing given the cost to purchase properties. One factor I'm also considering - and I would value your take on - is whether the US will experience an increase in domestic steel production. Looking at larger geopolitical issues, it seems that the US will need to achieve far less reliance on countries such as China for key materials such as steel. Are these areas positioned for a boon in manufacturing? That can make all the difference in discerning an investment opportunity that has a 10-15 year span. Thanks! ------------------------- Host: Victor Menasce email: [email protected]

Tim Lyons is a NYC Fire Department Lieutenant, Emergency Room Nurse, and real estate investor. I've known Tim for several years and observing his  journey has been wonderful to watch.  Tim has jumped into the world of multi-family investing and syndication. He forms part of a portfolio of over 1,000 units. You can connect with Tim at citysidecap.com.

Sharad Mehta is the CEO and founder of RESimpli, a software system designed to provide an end to end solution for residential real estate investors. You can connect with Sharad at his website RESimpli.com. 

Today’s show was inspired by a simple statement. The statement was made by Adam Grant, who is a psychologist and author who is currently a professor at the Wharton School at the University of Pennsylvania where he specializes in organizational psychology. I’ve read several of his books and his latest book entitled “Think Again” was our book of the month for March of this year. Sometimes you hear a statement so profound that if you’re not paying attention it can pass you by. This statement by Adam Grant literally stopped me in my tracks. It was about 6AM and I was listening to a podcast as I waking up. I’m going to paraphrase what he said so it won’t be a direct quote. Adam said, the reason mature companies do so much better than startups is they can focus on the hard things associated with optimization. Startup companies are so focused on the hard things associated with launching the business. I heard that statement and had a moment of penetrating clarity.

On today’s show we’re talking about design and dimensional constraints when you’re designing a living space.. Most people have a hard time looking at a set of plans and visualizing their furniture in that space. This is a process that comes with practice. The most important room in a house to design well is the kitchen. In today’s homes, with the cost of construction, space comes at a premium. When you consider the utility of space, you have to consider how much real space is required for walking inside a home. If the spaces between elements are too small, even a large room can feel crowded. On today’s show we’re going to give you a design idea to solve the problem of a room that is a bit too small. 

On today’s show we’re going to take a look at the new infrastructure bill that was just enacted in the United States and take a peek at some of the implications for real estate investors. -------------- Host: Victor Menasce email: [email protected]

On today's show Debbie from Pennsylvania asks about buying property at tax sale. ------------------ Host: Victor Menasce email: [email protected]

On today’s show we’re talking about whether inflation can breed demand for more real estate. This year has seen dramatic increases in prices for real estate across the US and Canada. In 94% of the metro areas in the Us, prices are up more than 10% from a year earlier. Nationally, prices are 22.9% from a year earlier. Many are decrying the affordability crisis. But it is a free market. There is clearly excess money sloshing around in the system. So the question is, how many people will attempt to tap into their newfound equity? We’ve heard a lot about how the refi market is extremely hot in 2021. I predict it’s about to get even hotter. The refinance activity is going to continue for the next year, as long as interest rates remain low. This means that there will be even more money sloshing around in the system, looking for real estate to buy. When there is more money than product, there is upward pressure on prices. This is the very definition of inflation. It’s the inflation of the money supply that is core inflation. The rising prices are merely the symptom.

Nicky is the author of a brand new book called "The Power of Connecting." On today's show Nicky shares a bunch of surprising facts about social isolation.  You will definitely want to reach out and connect with Nicky at ecircleacademy.com. 

We're talking all about data center investing on today's show with David Liggitt. Based in Dallas Texas, David is directly involved in helping data center investors with site selection and the numerous criteria that make for a great data center location.  You can connect with David at DataCenterHawk.com where you can get more information about trends around the world. 

On today’s show we’re talking about a couple of very specific things you can do as an investor to save money in your construction projects. If you’re going to save money, you need to be willing to make decisions. But often the people on your team are not offering up the suggestions with which to make these decisions. If you don’t know what to look for you need to become knowledgeable in the types of materials that are in short supply. We have several construction projects underway and there is a distinct shortage of supply for roofing trusses and floor trusses. If you’re involved in wood framed construction, there are a few choices on the types of products you can use. ------------------ Host: Victor Menasce email: [email protected]

On today’s show we’re taking a closer look at market analysis to really understand what some commentators are saying. We’re seen stock market analysts try to explain market behaviour with mathematical equations. They think up fancy terms like “technical analysis” to describe market sentiment and they distinguish the market behaviour from fundamentals. They even start to give the market a personality. These mathematical models get refined over time and become more and more accurate at describing past behaviour until you see a surprise event which is not described in the equations and then the model doesn’t work anymore. We’ve seen the models fail to predict virtually every major stock market event. Well now, this same kind of flawed analysis is making its way into the world of real estate. I’m bringing this up because when analysts use equations and show sophisticated looking graphs, the seem smart and these analysts gain a following. ---------------------- Host: Victor Menasce email: [email protected]

On the first few days of this week we are talking about what kind of amenities today’s buyer is looking for. When I say buyer, we could be talking about a single family home, a condo, or an apartment. All three are your target buyer. All of them will look at your amenities and often make the decision to buy or rent based on the features and amenities. On Mondays  show we focused on single family homes. On yesterday’s show we talked about condo amenities and on today’s show we’re talking about apartment amenities. ---------------------- Host: Victor Menasce email: [email protected]

On today’s show and for the first few days of this week we are talking about what kind of amenities today’s buyer is looking for. When I say buyer, we could be talking about a single family home, a condo, or an apartment. All three are your target buyer. All of them will look at your amenities and often make the decision to buy or rent based on the features and amenities. On yesterday’s show we focused on single family homes. On today’s show we’re talking about condo amenities and on tomorrow’s show we’re talking about apartment amenities.

On today’s show and for the first few days of this week we are talking about what kind of amenities today’s buyer is looking for. When I say buyer, we could be talking about a single family home, a condo, or an apartment. All three are your target buyer. All of them will look at your amenities and often make the decision to buy or rent based on the features and amenities. Amenities are difficult to value because they don’t show up in the market data. Even if the amenity has value to some of your clients, you would conclude that it has zero value simply by looking at the data. On today’s show we are focusing on amenities for single family homes that are selling in today’s market. Tomorrow we will focus on condo and Wednesday’s show will focus on apartments. So the question is, what amenities would buyers value in a single family home in today’s market? ----------------- Host: Victor Menasce email: [email protected]

Amy Johnson is a developer based in Salt Lake City, Utah. But her development projects are geographically dispersed across several communities. On today's show we're talking about the challenges of getting projects approved in multiple communities.  You can connect with Amy at Infiniterealestategroup.com  ------------------------ Host: Victor Menasce email: [email protected]

On today's show we're talking with George about whether the threat of litigation is higher when building condo's versus other asset classes.  --------------------- Host: Victor Menasce [email protected]

On today’s show we’re talking about how business travel is different during the pandemic. There is a lot that can be accomplished using a video conference. To be sure, we hold zoom and team meetings daily. Sometimes, even hourly. But I was using video conferencing daily and often hourly before the pandemic. ----------------- Host: Victor Menasce email: [email protected]

On today’s show we’re talking about a major supply chain disruption that is going to affect the entire construction industry. James Hardie Building Products is one of the largest manufacturers of cement board exterior siding. Their products are used extensively in residential construction and in multi-family apartment construction. The company has been struggling to meet demand for product for much of the past year. This past week, the company wrote a letter to all of its customers with some rather shocking news. I’m going to read the majority of the letter to you and then discuss what it means if you have a project that is in need of exterior siding products.

You’ve probably heard the phrase that the only winners in a dispute are the lawyers. Sadly, that’s often the case in today’s litigious environment. Well, on today’s show we’re talking about a court proceeding that our team has been peripherally involved with, where we received the judgement today. ---------------- Host: Victor Menasce email: [email protected]

Global shipping prices hit another all time high this week. The proliferation of the delta variant of Covid 19 has slowed the turnaround of containers around the world, further amplifying an already acute shortage. China has experienced major floods along their southern coast which further delayed the shipment of goods. Global shipping is now fully disrupted. Shipping rates this week hit $20,804 for a single container transiting the Panama Canal to the US East Coast. At this time last year, that same container would have cost under $2,000. --------------------- Host: Victor Menasce email: [email protected]

On today’s show we’re talking about how sellers mislead buyers with amazing regularity. It’s understandable. They want to sell. Once the decision to sell has been made, the seller often feels a tremendous psychological pressure to eliminate the uncertainty of the sale. Sellers want to bring certainty to the situation. Will it sell? When will it sell? How much will it sell for? All of these questions remain open until the transaction completes. The seller will often resort to manipulating the buyer in order to bring closure to the sale. ------------------- Host: Victor Menasce email: [email protected]

Kyle Wilson was the founder and President of Jim Rohn International. He has worked with some of the most iconic speakers in the world including Brian Tracy, Les Brown, Mark Victor Hansen, Zig Ziglar, Glen Morshower, Roger Love, Darren Hardy, John Assaraf, Denis Waitley and many others. Today's conversation is a masterclass in developing powerful relationships. 

On today's show we're sharing a little about one of our upcoming projects. This show was recorded live on location and highlights the vision we have of the project. To see a few photos of this amazing properties visit "lacommune.ca". --------------------- Host: Victor Menasce email: [email protected]

On today’s show we’re talking about how to know what your soil can support. When you are looking to build, the composition of the soil underneath the surface can make a massive difference in the cost of a project. On today’s show we are going underground, literally. --------------------- Host: Victor Menasce email: [email protected]

On today's show we uncover a future defect with a property. The ability to see into the future as part of due diligence is critical. This is a real life case study that fortunately averted a disaster. ------------------ Host: Victor Menasce email: [email protected]

On today’s show we’re taking a closer look at what’s happening in the world of industrial. This is a summary of the findings from some new industry reports on the topic. The growth in e-commerce is fueling the demand for more industrial and more warehouse space across the nation. Chicago Houston and Dallas account for nearly half the new additional 310 million square feet of space in the past 4 quarters.  The major transportation hubs have already attracted a lot of investment in industrial space. The opportunity lies in three main areas in my opinion. 1) There is opportunity in secondary markets that have largely been overlooked. 2) There is opportunity in specialty space such as refrigerated warehouse space. This is to give perishable products in the supply chain more flexibility to optimize their business operations in less expensive space than retail space. 3) Sale leaseback deals for both manufacturing space and logistics space for medium sized manufacturers. ----------------- Host: Victor Menasce email: [email protected]

The housing industry is about to experience a wave of turnover. The Federal moratorium on evictions that was put in place by the CDC came to an end on August 1. Some states and cities still have local regulations in place which may further protect tenants from eviction. I’m going out on a limb today to predict that as the moratorium on evictions is lifted we will see a game of musical chairs are tenants in arrears scramble to find new accommodations. In the process, we will experience a wave of emergency repairs to rental properties putting further pressure on the construction supply chain. ----------------------- Host: Victor Menasce email: [email protected]

Our book this month is "Time Smart; How to Reclaim Your Time And Live A Happier Life" by Ashley Whillans.  The title might imply this is yet another time management book. This is not a time management book like so many out there. We are a generation of over-worked, over-stressed, rushed maniacs. In 2012, a study found that 50% of working Americans were “always rushed” and 70% never had enough time. Instead, it examines the decisions that each of us make with respect to time. But the root of those decisions is often found in the headwaters of the value judgements that we each make with respect to time and money. Some people are financially poor. Some are time poor. Many are both. There are lots of people who have ample cash, but are still time poor. If you’re listening to this podcast, chances are high that you’re in that last category. ----------------------- Host: Victor Menasce email: [email protected]