The Real Estate Espresso Podcast

Latest Episodes:

George Ross Oct 30, 2022

Show notes

On today's show George and I are discussing maintaining flexibility in negotiation. At the end, George offers some advice on how to negotiate with politicians. We are so blessed to have George's advice. At 94 years of age, one of the wisest men I know.

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Host: Victor Menasce

email: podcast@victorjm.com

Michael Coffee Oct 29, 2022

Show notes

Michael Coffee is with Stacksource.com, a fintech company that provides an automated and streamlined borrowing process for commercial real estate projects. The service matches the borrower with the lender that offers the best terms to the borrower's needs. You can find Michael on LinkedIn, or connect with him directly at michael.coffee@stacksource.com

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Host: Victor Menasce

email: podcast@victorjm.com

So Much Confusing Information Oct 28, 2022

Show notes

Our world is very confusing at the moment. Whatever thesis you create, you can find the evidence to support your point of view.

Even a review of the headlines in the Wall Street Journal on a single day can be contradictory.

Apple reports record revenue. Amazon forecasts falling sales and the shares dropped 12% in after hours trading

US Gross Domestic product up 2.6% in the third quarter. Boeing reports a loss. Google reports falling advertising revenue. Facebook reports falling advertising revenue, Fedex reports falling revenue and suspends guidance.

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Host: Victor Menasce

email: podcast@victorjm.com

AMA - Minimizing Environmental Impact Oct 27, 2022

Show notes

Today is another AMA episode (Ask Me Anything). Mike asks,

Hi Victor, I listen to your great podcast a lot and I notice that you and your company do a lot of development, which obviously effects and impacts the worlds environment that we all share. You seem like a very practical and good person, so I’m wondering what do you and your company do to make sure that your projects are sustainable and are not just hurting the environment?

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Host: Victor Menasce

email: podcast@victorjm.com

What is SOFR and Why Do I Care? Oct 26, 2022

Show notes

As real estate investors we are very sensitive to interest rates.

Rates for permanent loans are indexed to the yield on the 10 year treasury and in some cases on the yield for the 30 year treasury.

But for short term financing like bridge financing or construction loans, these loans are indexed historically to LIBOR. It’s common to see a construction loan with a rate of LIBOR + 5.75% with a floor of, say, 8.5%. So what is this thing called LIBOR and why is it used to set rates for commercial bridge loans?

For more than 40 years, the London Interbank Offered Rate—commonly known as Libor—was a key benchmark for setting the interest rates charged on adjustable-rate loans, mortgages and corporate debt.

The important aspect of SOFR is that theoretically, it will be more difficult to manipulate because unlike the LIBOR, there’s extensive trading in the Treasury repo market. SOFR is based on data from observable transactions rather than on estimated borrowing rates, as is sometimes the case with LIBOR. That makes SOFR much more difficult to manipulate.

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Host: Victor Menasce

email: podcast@victorjm.com

Announcing The Norris Ranch Oct 25, 2022

Show notes

On today’s show we’re talking about a major development project that we have underway. We closed yesterday on a parcel of land consisting of 1783 acres on the edge of Colorado Springs. This property was part of a much larger property called the Norris Ranch that originally was close to 20,000 acres. There is a story behind Mr. Norris and the Norris Ranch. We purchased the property from Mr. Steve Norris, son of Bob Norris who died in 2019 at the age of 90. Bob Norris was a cattle rancher. Through an unlikely turn of events, Mr. Norris had an elephant on his ranch. Bob Norris was famous as the Marlboro Man, the public face of Marlboro cigarettes.

This project would not have been possible without forging a partnership with some very prominent families in the local Colorado Springs market. We have a strong vision for this project as an extension and growth of the Colorado Springs community.

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Host: Victor Menasce

email: podcast@victorjm.com

AMA - How Are Bond Yields Calculated? Oct 24, 2022

Show notes

Today is another AMA episode (Ask Me Anything). Davindra asks

I am a long time listener of your RE espresso podcast and have thoroughly enjoyed your well thought out and efficiently delivered content. Time permitting, I had a question on the most recent podcast about potential scenarios for the economy. In the second scenario, you said, bonds would have a significant "run up" as interest rates stabilize. Can you explain what this means? I've been trying to wrap my head around the bond market but there are so many moving parts that affect it, and affect different maturation levels differently as well. If you can suggest a good primer on the bond market, that would be greatly appreciated.

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Host: Victor Menasce

email: podcast@victorjm.com

Allison Williams Oct 23, 2022

Show notes

Allison Williams is a lender with walkerdunlop.com. On today's show we are talking about financing for multi-family apartment assets. Today's points are timely and top of mind for many investors.

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host: Victor Menasce

email: podcast@victorjm.com

Mikkel Thorup Oct 22, 2022

Show notes

Mikkel Thorup is based in Panama City, Panama where he helps people find a plan B residency in favorable locations. Many countries have programs that enable accelerated residency with investment in the country. You can learn more and connect with Mikkel at expatmoney.com. He is going to be hosting a five day conference in early November which you can attend for free. To learn more about the summit, visit expatmoneysummit.com

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Host: Victor Menasce

email: podcast@victorjm.com

More Signs of Banking Contagion Oct 21, 2022

Show notes

For the past several weeks we have been focusing on macro economic conditions. It seems that all markets, the stock market, the bond market, and real estate are being dominated by the macro environment.

Traditionally, we think of real estate as hyper local, and it is. A piece of waterfront property is going to be valued differently than the same acreage two blocks inland. But still the macro environment is dominating.

There are facilities available for banks that are in trouble to ask the Federal Reserve for help. These short term facilities are accessed through the discount window at the Fed and the what is called the REPO market. But REPO transactions are publicly visible. Banks are reluctant to use the facility because they’re effectively signalling to the world that they’re in difficulty.

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Host: Victor Menasce

email: podcast@victorjm.com

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