Coming up later today at 5PM EDT, 4PM CDT, 3PM MDT, I'm going to be live on LinkedIn and Facebook giving my predictions for the upcoming period and opening up to live questions from the audience. To register and attend, visit https://www.linkedin.com/events/predictions-askmeanything7191469079046639616/about/ On todays show we are doing a dive into why sheltering from capital gains tax is not as simple as it sounds. There is nuance to the process and it can be more difficult unless you plan carefully. Let's be clear, I'm not offering tax advice. Talk to your CPA. I'm merely sharing my observations based on what I'm seeing in the market. ---------------- Host: Victor Menasce email: [email protected]

Coming up on Friday May 3 at 5PM EDT, 4PM CDT, 3PM MDT, I'm hosting a live stream on LinkedIn Live. I'm going to be sharing my predictions for the upcoming period and then opening up to questions from the audience on any topic. To connect to the live stream, join me at 5PM EDT here: https://www.linkedin.com/events/predictions-askmeanything7191469079046639616/ On today's show we're talking about the FTC's recent ban on non-compete clauses in employment contracts. What does it mean for employers and for employees? -------------- Host: Victor Menasce email: [email protected]

Coming up on Friday May 3, 2024 at 5PM EDT, 2PM PDT, I'm hosting a LinkedIn Live. I'm going to be sharing my economic predictions and opening up the session to questions from the audience. A great way to unwind at the end of the week. Here's the link to join the live https://www.linkedin.com/events/predictions-askmeanything7191469079046639616/ On today's show we're reviewing the book of the month. Our book this month was written in 49 AD by Seneca. It's an essay on the shortness of life, written to his father in law. It contains the wisdom of the ages and continues to be talked about, translated and interpreted nearly two thousand years later. ------------- Host: Victor Menasce email: [email protected]

 I’m going to warn you in advance that today show is completely a conspiracy theory. Whether this conspiracy theory resonates with you or not, I leave entirely up to you. I’m here to convince you or anyone of anything. I am merely observing what I see in the marketplace, and trying to make sense out of it. Debasement of currency has been going on for centuries. During the Roman Empire, the metal in coins whether it was gold or silver in the Roman denarius was whittled away by progressive emperors. This was essentially a form of theft. Shaving the edges of the coins also became common practice. Modern day version of printing money simply involves the addition of a ledger entry in a database. ------------ Host: Victor Menasce email: [email protected]

On today’s show we are talking about one of our banks being forcibly closed and sold to another bank in Philadelphia in an FDIC auction this past week. The bank is known as Republic Bank and is legally named republic first bank, not be confused with the very similar sounding and much larger bank called First Republic which failed last year. Republic Bank was a local Philadelphia bank with about 20 branches in Pennsylvania and New Jersey. It relatively new having been founded in 1988. In 2008 the bank switched from being a purely commercial bank to include retail banking.  Our experience with Republic bank was a good one. They wrote construction and permanent loans on several of our buildings in Philadelphia.  --------- Host: Victor Menasce email: [email protected]

Andrew Hellinger has been developing landmark projects for a number of years. His most recent signature project is called River Landing and is located on the Miami River. On today's show we are talking about community building and designing of the community as an amenity. To connect with Andrew and to learn more, visit https://www.riverlandingmiami.com ------------- Host: Victor Menasce email: [email protected]

On today's show I'm speaking with George about the financing of 40 Wall Street, a 75 story building located diagonally across from the NY Stock Exchange. George was responsible for the redevelopment of this iconic building in lower Manhattan when he was working for Donald. -------------- Host: Victor Menasce email: [email protected]

Join us for an insightful Ask Me Anything (AMA) session focused on tax-efficient investment strategies in real estate development and investing. Victor dives into listener questions, addressing scenarios like inheriting property, navigating renovation costs, and optimizing tax benefits. While this episode offers valuable insights, it's important to note that it's not intended as tax advice. For personalized guidance, always seek the expertise of a qualified tax professional. Tune in to learn how to maximize returns and minimize tax burdens on your real estate journey

Welcome to the Real Estate Expresso Podcast, your go-to source for the latest insights in real estate investing. Join Victor Menasce as he explores the ongoing shortage of electrical components, delving into the factors driving this phenomenon two years after the initial supply chain disruptions of the pandemic. Discover why electric utilities and other sectors are grappling with sourcing challenges, and how the surge in demand for electrical infrastructure is reshaping the industry landscape. From the impact of weather events on transformer demand to the growing needs of electric vehicle charging stations, data centers, and solar power generation, Victor unpacks the complexities driving the shortage. Gain valuable insights into the dynamics behind the scenes, including the concentration of manufacturers, distribution channels, and the ripple effects of increased demand across multiple sectors. Tune in to stay informed and navigate the evolving landscape of electrical equipment availability ---------- Host: Victor Menasce email: [email protected]

Join us on the Real Estate Espresso Podcast as we dive deep into the latest employment statistics, unraveling the complexities and revealing the true narrative behind the numbers. Host Victor Minasce scrutinizes the unemployment rate, shedding light on how government definitions and economic shifts shape our understanding of workforce dynamics. From the gig economy to high-paying tech jobs, explore the factors influencing employment trends and gain invaluable insights into the evolving job market landscape. Tune in for a comprehensive analysis that challenges conventional wisdom and illuminates the reality of today's employment landscape. ------------- Host: Victor Menasce email: [email protected]

Explore a landmark US Supreme Court ruling safeguarding property rights on today's episode. Discover how this unanimous 9-0 decision, authored by Justice Barrett, reinforces constitutional protections under the 5th and 14th amendments. Join us as we delve into the crucial role of the court in interpreting and upholding the law, and contemplate the global implications of such legal precedents. ---------- Host: Victor Menasce email: [email protected]

Discover cost-saving techniques for construction projects on the Real Estate Espresso Podcast. Join Victor J. Menasce as he delves deep into three aspects of interior finishes, revealing how to cut costs without sacrificing quality. Learn from real-world examples at Turkey's national Builder Expo and explore practical insights to enhance your construction budget. Tune in for expert guidance on value engineering and maximizing savings in today's challenging construction landscape ----------- Host: Victor Menasce email: [email protected]

Join us for a special weekend edition of the Real Estate Espresso Podcast, broadcasting live from the TurkeyBuild Expo in Istanbul. Host Victor Menasce takes you on a captivating walking tour through the exhibition halls, uncovering groundbreaking innovations in interior finishes and construction materials. From revolutionary facade systems to cost-effective flooring solutions, discover firsthand how value engineering can transform your projects. Tune in for exclusive insights and actionable strategies to optimize your construction budget and enhance project quality. ------------- Host: Victor Menasce email: [email protected]

Aaron Letzeiser is based in Chicago Illinois where he specializes in helping rental property owners secure the right kind of insurance coverage. On today's show we are talking about a few strategies that can help reduce the ballooning cost of insurance. To connect with Aaron, visit obieinsurance.com ----------- Host: Victor Menasce email: [email protected]

I’m currently in Istanbul Turkey for their annual builder expo. This is a massive show with over 10 exhibition halls and they report that more than 52,000 people will attend the expo. I’ll do a separate show later this week specifically on the expo.  On today’s show I’m sharing my observations about Turkey. I have visited several cities in Turkey over the years including Izmir, Istanbul, Anatolia, Kusadasi, and Effesus.    It’s been about 5 years since I was here last and maybe 10 years since I spent any considerable time here. The first time I visited Istanbul I was 12 years old. I’ve seen the city grow up so to speak.  Today, Istanbul is a very modern city. It is also a very populated city with over 15M people.  I’ll have more to report in the coming days about the builder Expo. ------------ Host: Victor Menasce email: [email protected]

Today’s show is another example of out of control government spending.   Italy's government said on Tuesday fiscal incentives for home renovations had had a "devastating" impact on public finances over the last four years and were to blame for the expected rise in the country's massive public debt through 2026. The plan offered to pay homeowners 110% of the cost of energy saving renovations. Another project promised to cover 90% of the cost of improving the facade of a building. The government underestimated the scheme's appeal, but also made a number of other errors. With such generous handouts, homeowners had no reason to negotiate with builders over costs. On the contrary, since the rebate exceeded the actual cost, higher costs meant more money was left for the homeowners in their pocket.  This effect was so predictable that you could see it coming from miles away.  Asked why they got their forecasts so wrong, officials involved in the budgetary planning have said they had no precedent to draw on as no one outside Italy had ever offered to refund more than the costs of the renovations. I’m sorry this is just plain stupid.  ------------- Host: Victor Menasce email: [email protected]

On today’s show we are talking about how to determine the structure of an investment offering.  We often hear about the so-called 2 & 20 formula that is popular among fund managers. When we say 2 & 20, that refers to a 2% asset management fee measured on the value of the fund, plus a 20% carried interest in the ownership of the fund. For many funds, that 2% fee is an annual fee. Over a 10 year life of a fund, that fee can amount to 20% of the original investment. That means the investors get 80% of the profits in the fund. Naturally, for that formula to work, the fund needs to generate enough returns for the investors to more than make up for the fees being charged by the fund manager. In publicly listed funds that are considered liquid, fund managers sometimes charge a 7% up front fee. Investors can sell at any time after the first year, but clearly they are going to pay a penalty for selling early.  That’s in the world of mutual funds. The fund managers are merely placing money in operating businesses. They perform their due diligence on the investments and they sprinkle their funds across a number of investments. The fund manager doesn’t do any of the heavy lifting associated with running the active businesses.  In the world of real estate investments, sometimes that can be a fund which will invest in several projects.  More often, the investment is in a single asset. It might be an apartment complex or a storage facility or a land development, or an industrial building. This requires active management of the businesses. I sometimes see the same 2 & 20 being applied to single asset investments.  But in truth there is no real industry standard. Whatever structure you can imagine and investors will embrace can work, of course as long as it is compliant with securities regulations. On today’s show we are going to talk through the thought process that goes into determining how to design an investment offering. 

On today’s show we are talking about how to scrutinize a quote for construction. Earlier this week we received a budgetary estimate for a new construction project. Needless to say, the price was high relative to what we were expecting. So now that you have an estimate, how do you dig in and scrutinize where it is off base? This falls into a category called “know your numbers”. That means knowing your numbers at a detailed level for specific line items.  I’m going to take you through a few specific line items, not to get lost in the details of this particular project, but rather to understand the thought process inherent in this kind of work.  ---------- Host: Victor Menasce email: [email protected]

On today’s show we are talking about aluminum wiring in apartment complexes. This was common from the 1960's to the mid 1970's. About 2 million housing units are estimated to still have aluminum wiring. Some insurance companies will decline to insure your building if you have aluminum wiring and those that remain will charge extra. But there are a couple of remedial solutions. ------------- Host: Victor Menasce email: [email protected]

Grant Reaves is based in the deep south where he invests in Flex Multi-Tenant Industrial. On today's show we are talking about his strategy for adding value to these types of buildings. To connect with Grant and to learn more, visit Stoic Equity Partners at stoicep.com or email him directly at [email protected]

Dan French is based in Austin Texas where he has amassed a portfolio in excess of 17,000 units investing in multi-family apartments throughout the South and Southeast. He divested of the majority in 2019 when it appeared that market was overheated and has been sitting on the sidelines ever since. On today's show we are talking about the market cycle and how being patient has proven to be a virtue. To connect with Dan and to learn more, visit atxacquisitions.com or call him directly at 845-629-1808. --------------- Host: Victor Menasce email: [email protected]

Real Estate Investors are gritting their teeth at the moment. The benchmark SOFR remains steady, but the 10 year treasury which is the benchmark for permanent financing has risen sharply in the past week and hit a high of 4.65% yesterday. Many are wondering what is causing the bond yield on the 10 year Treasury to continue to rise. We are also seeing oil prices rising at a time when major parts of the world are experiencing economic slowdown. We also have gold reaching record highs.  The obvious questions are “Why?” And what does this mean?

On today’s show we are taking a look at the Macro economy. The bureau of Labor and Statistics published the latest CPI data which came in a bit hotter than expected. This is implying that the Fed will need to keep interest rates higher for longer to combat inflation. The Fed keeps saying that rates needs to be maintained higher for longer so that aggregate demand is reduced to stamp out inflation.  At least, if you read the mainstream media, that’s what they would have you believe.  The narrative is that the economy is still strong and that the GDP growth is high and unemployment is low.  In order to understand what is real in the economy we have to look closely at what is driving the economy.  When you look at all of the growth that has happened in the economy in the past year, it’s been as a result of increases in government spending. It's artificial growth, an illusion. --------- Host: Victor Menasce email: [email protected]

On today’s show we are talking about the EB5 Investor Visa and whether these sources of investment funds have the potential for being useful for real estate projects.  The goal of the EB-5 program is to enable immigrants to get an accelerated permanent residency permit through an investment in a qualified EB5 investment.  ----------- Host: Victor Menasce email: [email protected]

Today’s question comes from Paul who asks.  I’m putting together my plan for conferences for the remainder of this year. I’m curious how you determine how much time to spend out of the office attending conferences? How do you decide which events to attend?  ---------- Host: Victor Menasce email: [email protected]

On today’s show we are taking a look at data sources when it comes to understanding the market.  We know there is a gap between asking rents and contracted rents on average. Sometimes you will see a listing as a tenant and the landlord has listed the rent. Some tenants will treat the rent as a fixed number and either pay the asking rent or look elsewhere.  But then a subset of tenants will make a rental offer which might be different than the asking rent. The result is a negotiation.  The rental price might not change in that negotiation. The savvy landlord wants to preserve the value. They don’t want to change the monthly rent. So if they give a discount, they would prefer to offer a rent concession in virtually any other form.  It could be a month of free rent, as in 13 months for the price of 12. They’re still signing a 12 month lease and maybe offering the second or third month of the lease term as the free month. That way, when they compile their numbers for the end of the year, the monthly numbers look stronger even in the presence of a rent concession.  If you’re looking to make an investment, where do you go for a reliable source of rental comp numbers? The asking rents that are publicly listed are just that, asking rents. That’s not indicative of the actual contracted rent.  We can find all kinds of market data on the internet. But before you look at that data for a particular area you need to ask yourself some important questions. ------------- Host: Victor Menasce email: [email protected]

Dennis Cisterna is based in Las Vegas where he invests in institutional quality office and retail on a nationwide basis. On today's show we are talking about the opportunities that are evident when you're willing to go counter-current. To connect with Dennis and to learn more visit sentineloppfund.com. ------------ Host: Victor Menasce email: [email protected]

Randy Langenderfer is based in Houston Texas where he invests in multiple markets. Over the past decade he has invested in about 1,600 units. On today's show we are talking about finding the right partners in remote cities. To connect with Randy visit invest-ark.com ---------- Host: Victor Menasce email: [email protected]

On today’s show we are talking about the shortage of construction workers that has been widely reported.   From our vantage point, we are seeing a number of contradictory facts. There is a shortage of workers in many of the trades. At the same time, we know of workers who are sitting at home right now, looking for work. We know this because we are being continually solicited for work by subtrades. We also know of architects and consulting engineers who are being laid off because of a lack of work in some markets. It’s a strange dichotomy. There is no question that the industry has experienced a slowdown of new projects after a few years of elevated investment. However, we believe this situation is temporary. The problem is demographics. People are retiring out of the construction trades, faster than new young people are entering the trades. ------------ Host: Victor Menasce email: [email protected]

On today’s show we are looking at a study that was authored by three researchers at Purdue University, The College of William and Mary, and The Chinese University of Hong Kong.  The purpose of the study was to examine the impact of short term rental bans on the long term rental market.  There are many different type of ordinances affecting short term rentals. But the truth is, most municipalities do not enforce these ordinances. The end result most of the rules are ignored by landlords.  This particular study zeroed in on Irvine California which is one of a few communities that actually does enforce its ban on short term rentals in properties that have residential zoning. If you’ve spent any time in southern California, you know that the entire area is essentially one continuous city. The only way you know that you’re now in another city is because there is a sign welcoming you to the new city. Otherwise, there is no obvious boundary. If you work in Irvine, you would happily drive from Costa Mesa, or Newport Beach, or Laguna Beach, or any of a number of communities in the area if you can find a place to rent at a respectable price.  The study found that the actual contracted rental prices reflect the supply demand equilibrium whereas the asking rents are generally higher than the actual contracted rent.  The study found that in the case of Irvine, the number of Airbnb listings declined by 27% within two years of the ban.  The study also examined short term rental activities in the neighbouring cities where there was no short term rental ban in effect.  The study found that within three years of the ban, enough new supply had been brought back into the market that there was an observed decline of contracted rental pricing of 3% or the equivalent of $114 per unit across the entire market.  The academic paper is about 32 pages in length, and no doubt will be cited by numerous advocacy groups around the nation as a quality piece of research.  The authors of the paper were very focused on reduction of short term rentals as  the primary source of supply entering the market. As developers, we know that construction is another source of supply entering the market.  It is possible that maybe Irvine had more rental housing constructed during that time period compared with the surrounding cities which contributed additional supply to the market. We just don’t know because the researcher failed to consider that aspect. We know that rental pricing follows the laws of supply and demand. If you’re going to look at the supply side and assess the impact of the STR ban, then you need to look at all sources of supply entering the market, not just STR to LTR conversions.  Unfortunately, the paper made no reference to new supply. ----------- Host: Victor Menasce email: [email protected]

On today’s show we are talking about the importance of hiring a surveyor for every step of the building process.  The first case study is of a property located in Hawaii on the island of Puna.  A construction company has reportedly built a half-million-dollar house on the wrong property. The second example is a public road that was built 20 feet off center and is encroaching on the neighbor's property. ---------------- Host: Victor Menasce email: [email protected]

On today’s show we are looking at what I consider to be a double standard. There is one set of rules for the average person and another set of rules for the government.  We know that using funds from new sources of funding to pay off existing investors is the very textbook definition of a Ponzi scheme. These are highly illegal and the likes of Bernie Madoff should rot in jail for stealing from people. But there is another form of the same thing which involves investors and is sanctioned by the SEC. Have you ever heard of a Naked Short Sale? On today’s show I’m going to be quoting directly from the SEC regulations. ----------- Host: Victor Menasce email: [email protected]

Our book this month is “Radically Condensed Instructions for Being Just as You Are” by Jennifer Matthews. ----------- Host: Victor Menasce email: [email protected]

Ben Spiegel is based in Greenwich, Connecticut where he specializes in design and construction of luxury RV Parks. This is an asset class that is often overlooked. To connect with Ben, visit redwoodcapitaladvisors.com ---------------- Host: Victor Menasce email: [email protected]

Hayden Crabtree is a storage developer based in Atlanta, Georgia. On today's show we are talking about a project in Fort Myers that went sideways in the approval process. This is a powerful story packed full of lessons. To connect with Hayden, he is @haydencrabtree on Instagram. His book "Skip The Flip" is available on Amazon and his cost segregation business is at remotecostseg.com ------------ Host: Victor Menasce email: [email protected]

While the US Federal Reserve has made very few signals about what is happening in the economy, there are many more alarms being sounded by central banks elsewhere in the world. On today’s show we are looking at what those other central banks are saying and some of the policy changes that have already occurred.  The most visible signal we are accustomed to seeing in a recession is job losses. So far, while job losses have increased, most would not consider recent job loss data to be an economic calamity. But the signs of economic slowdown are not limited to the economies in North America.  There are numerous Countries in recession right now. Germany, Italy, France, the UK Japan are all in recession. 

Today’s question comes from Chandler who writes: I was turned onto your podcast a little over a year ago and have received tremendous value from your insights ever since. Thank you for your consistent efforts to deliver information about the nuts and bolts of the real estate world.  A little over a year ago, I purchased my first storage facility. After completing a fairly substantial facelift on the property and aggressively managing the rates, I've been able to double my gross revenue from the time of purchase. However, even with the increased rates, the demand for my units continues to outpace my supply. I have no previous experience in construction, so the idea of an expansion project overwhelms me, but I don't plan to let that stop me.  The property adjacent to mine is a large tract of vacant land. I'd like to approach the owner about purchasing the property from him, but I don't want the potential price or terms of the deal to be influenced by the fact that I own the storage next door. Is there a way I can find out how much he wants for the land and make an offer on the property without disclosing my identity? Would this strategy even be appropriate, or am I overthinking the whole thing? Thanks again for all of your help! ----------- Host: Victor Menasce email: [email protected]

Today’s question comes from Jonathan who asks. Your recent episode on the NAR lawsuit settlement left me with a question. From what I understand, NAR recently settled the class action lawsuit and buyer’s will be required to hire and pay their own buyer agents. You mentioned in that episode that the practice is now matching what was already the practice in commercial real estate. So when you are buying commercial real estate, do you actually hire buyer representation? As a commercial investor, should I pay for buyer representation? ------------ Host: Victor Menasce email: [email protected]

Where is the line between break and enter, theft, and a tenant being evicted unlawfully?  Well, that is now being finally clarified in a couple of states. If someone breaks into your house and starts stealing your stuff, then you would do the natural thing and call the police to have the crooks arrested. But when the police show up, if those people claim to be a tenant, the police will probably tell the owner to have them evicted through civil litigation in the court system. In many states, this process can take upwards of years.  The state of Florida just passed legislation that restores property rights to property owners.  ----------- Host: Victor Menasce email: [email protected]

On today’s show we are talking about flooding. When it rains you have to think about where the water is going to go. We’ve all heard the advice about how to always pitch your tent in a high location and to avoid the low spots where water will flow in the event of a rainstorm. The same advice applies to construction. Except the construction itself can be a source of problems when it comes to storm water management. Storm water management is governed by a set of principles, that is to say the laws of physics and often further constrained by regulations from multiple jurisdictions. The basic principle behind most of the regulations is that Mother Nature was perfect in her design of our planet and that it is the alterations caused by humans that are responsible for messing things up. ------------ Host: Victor Menasce email: [email protected]

On today's show we are jumping into the realm of Artificial Intelligence and George is answer a question that was composed by an AI bot. ------------- Host: Victor Menasce email: [email protected]

Today's show is an extract from a longer talk given by Dr. Chris Martenson at the Ottawa Real Estate Investors Organization on March 13. Chris is the founder of Peak Prosperity. You will find lots of amazing content on a wide spectrum of topics at the Peak Prosperity website. To learn more and to connect with Chris visit peakprosperity.com --------------- Host: Victor Menasce email: [email protected]

On today’s show we are talking about how education is changing, and in particular what that means for owners of student housing.  When you make an investment in student housing you are making a few fundamental assumptions. The enrolment in the institution will grow or at least remain constant.  Students will still need to come to campus to attend classes. Foreign students entering the country will generally need more student housing than local students who might be able to live at home with parents.  The demand for student housing will grow over time, or at least remain constant. If the demand drops, then you can expect vacancy to increase in the local market and for rental rates to drop. Students will make housing decisions based on lowest price.  When you make an investment in student housing you want these assumptions to hold true for longer than your forecast holding period for your investment.  ------------- Host: Victor Menasce email: [email protected]

On today’s show we are making sense out of the latest results from the Federal Open Market Committee’s two day meeting which concluded on Wednesday of this week with J Powell’s press conference on Wednesday afternoon. I watched the press conference in its entirety. Chair Powell didn’t field too many difficult questions.  There were a couple of things in the press conference that I thought were noteworthy. The mainstream media keep talking about 3 rate cuts this year. But I didn’t hear that in his talk. What I did pay attention to was his target for interest rates in the next month, and by the end of the year. 

Earlier this week, the National Association of Realtors announced a settlement agreement to the class action lawsuit that was widely publicized late last year. On today's show we are talking about the implications of the settlement. Sadly, the likely result is that it will harm the very people the lawsuit was designed to help. For commercial transactions, there is no impact. The practices in residential real estate are being brought into line with what is already the practice in the world of commercial. Commercial real estate puts the burden of risk on the buyer and this is understood. ------------

On today's show we are looking at what investors are predicting for the coming year. Data from Colliers and CBRE form the basis of today's show. The CBRE investor sentiment survey indicates what investors think will happen this coming year. ------------ Host: Victor Menasce email: [email protected]

On today’s show we are talking about market fundamentals. Our listeners are real estate investors. But that means they’re investors first. The investor mindset is based on fundamentals.  When we assign value to a corporation, that translates into a share price if that stock is publicly traded. All other things being equal, the stock will trade at a multiple of net earnings.  The conventional wisdom is that in times of economic boom, net earnings tend to swell and the share price of the company will increase to reflect the higher earnings of the company.  In times of recession, revenues fall, and earnings usually take an even bigger hit. The share price of those publicly traded companies get punished accordingly.  So we have a strange situation going on in Japan at the moment. The economy is clearly in recession, and has been for some time. We have a Japanese stock market index that is up by 30% over the past six months during a time when the economy is limping along. There’s nothing like a good old Wall Street style share buyback to wallpaper over weak corporate earnings.  ---------- Host: Victor Menasce email: [email protected]

Jon and Kevin Ratner form part of the Forest City legacy and are currently leading a new venture called The Max Collaborative. They've taken their decades of experience running a public real estate development company and translated into unique product offerings with energy efficiency, design and sustainability as underpinning qualities. To connect with Jon and Kevin, visit themaxcollaborative.com ---------- Host: Victor Menasce email: [email protected]