The Real Estate Espresso Podcast

Latest Episodes:

Small Multi-Family Investing with Ray Heimann Dec 24, 2023

Show notes

Ray Heimann is based in Pittsburg, PA where he is a principal with Terra Capital. His firm specializes in redeveloping historic properties in mature neighborhoods and converting them into luxury class multi-family properties with old world charm. This is a unique angle on multi-family investing and redevelopment. To learn more and to connect with Ray, visit usaterra.com

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Host: Victor Menasce

email: podcast@victorjm.com

Curtain Wall Savings with Anna Olin and Weina Zhang Dec 23, 2023

Show notes

Anna Olin and Weina Zhang are based in Las Vegas where they manufacture unitized building structural systems that embed the buildings structural elements in the core which correspondingly simplifies the building facade construction. The labor savings of 40% means significantly lower cost compared with other conventional systems.

Connect with Anna and Weina at zlifeco.com or visit their most recent project at midtownvegas.com.

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Host: Victor Menasce

email: podcast@victorjm.com

Immigration Fueled Housing Shortage Dec 22, 2023

Show notes

On today’s show we are talking about the law of supply and demand. This is one of those principles that I treat with the same reverence as a law of physics. It’s a little like gravity. If you try to fight gravity, you’re probably going to come out on the losing end of that battle.

Back in the 1950’s we had explosive population growth in North America. This was the so-called baby boom. Demographics following the apocalypse of WW2 meant growing population and the associated economic boom that comes with it. We no longer have these conditions in our society. Many western economies are experiencing aging populations, declining birth rates and falling demand for housing, along with shifting demand for services.

If populations are growing, it’s the result of immigration.

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Host: Victor Menasce

email: podcast@victorjm.com

The Real Reason For The Fed Pivot Dec 22, 2023

Show notes

On yesterday’s show I speculated on some of the reasons why the Fed might have pivoted. These reasons all sounded pretty plausible. Then I listened to an interview with Chicago Fed President Austan Goolsbee, who was on the Fed’s rate-setting committee this year. He spoke with the WSJ’s Take On the Week podcast host to discuss why “all things are on the table” when it comes to interest rates, including potential rate hikes, and why he thinks there is still a risk of recession. Plus: what’s keeping him up at night, and why he says it may be time for the Fed to shift its focus from inflation to the slowing U.S. labor market.

Naturally, Austan Goolsbee was careful not to make any predictions. But he did provide some meaningful insights as to why the change of heart at the Fed. He was asked about the spectrum of opinions across the members of the Fed. While all of the FOMC board members and all of the regional bank presidents have a voice at the table, not all members have a vote. There is a rotating voting structure where each board member serves a term on the rate setting committee.

In retrospect, I totally missed what was an obvious reason for the change.

The Fed is well known for relying on the so-called Phillips curve as one of the core financial models when it comes to understanding the economy.

What Spooked The Fed? Dec 20, 2023

Show notes

On today’s show we are talking about why the Fed made a surprise announcement last week which involved the potential for several 0.25% rate cuts in 2024. This seems like a dramatic about face compared with the rhetoric from the Fed only a few weeks earlier.

So the question is, what did the Fed see that caused them to change their tune?

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Host: Victor Menasce

email: podcast@victorjm.com

New SEC Report on Accredited Investors Dec 19, 2023

Show notes

On today’s show we are taking a look at a new report issued by the staff at the US SEC to the SEC and to the Congress. The law requires the SEC to undertake a review of the accredited investor definition, at least once every four years to determine whether the requirements of the definition should be adjusted.

This 53 page report is packed with tons of interesting data. Based on the findings, I'd be shocked if we don't see an amendment to the definition sometime in the first half of 2024.

Government's Falling Influence Dec 18, 2023

Show notes

On today’s show we are talking about the shrinking influence of governments around the world. Politicians act as if they can control what happens within their borders. They act as if the national economy is under their control, and that if they set the rules for the nation, they can control what happens within their borders.

But the fact is, we have a globally interconnected world.

It’s becoming more and more difficult for governments to control what happens within the borders.

The Euro dollar system which involves the movement of funds internationally can have as large an influence if not even greater influence on financial markets than governments. Investors influence the market more than governments do.

Interest rates around the world are going down all over the world. Central banks are not doing much to push rates lower. The Fed did not lower rates this past week. The bank of Canada kept rates constant at the December meeting.

ECB officials agreed Thursday to hold the bank’s deposit rate at 4% for a second straight meeting. The Bank of England Thursday also announced that it would leave its key rate unchanged for a third straight meeting. The Swiss National Bank on Thursday kept interest rates on hold at 1.75%.

So then why are rates falling?

Senior Housing Development with Dr. Neel Chadha Dec 17, 2023

Show notes

Dr. Neel Chadha is a practicing physician in Ottawa Canada and is also a part-time developer of senior housing, assisted living and memory care facilities. On today's show we're talking about designing service offerings. You can connect with Neel at neel@lanarklifestyles.ca

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Host: Victor Menasce

email: podcast@victorjm.com

Corporate Agreements with Richard Crouch Dec 16, 2023

Show notes

Richard Crouch is based in Richmond Virginia where he is with the law firm of Woods Rogers Vandeventer Black. On today's show we are talking about some of the common pitfalls when structuring agreements.

To connect or to learn more you can email Richard at richard.crouch@wrvblaw.com or visit their website at https://wrvblaw.com/

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Host: Victor Menasce

email: podcast@victorjm.com

Done And Good Is Better Than Late and Great Dec 16, 2023

Show notes

On today’s show we are talking about a concept in project management that is rarely discussed. When we think about the items that determine a project’s timeline, there are all of the text book steps in developing a project plan.

More advanced project management means identifying those project constraints that are critical in nature. This is taken from the theory of constraints work by Eli Goldratt.

The idea behind the theory of constraints is that there can be other critical resources apart from time. The impact of a critical resource can result in time delays, but in that instance it is not time that is the critical resource. This is a subtle but important distinction.

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Host: Victor Menasce

email: podcast@victorjm.com

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