The Real Estate Espresso Podcast

Latest Episodes:

BOM - Rocket Fuel by Gino Wickman and Mark Winters Feb 01, 2022

Show notes

On today’s show we’re taking a deep look at the book “Rocket Fuel” by Gino Wickman and Mark Winters. In addition to being book of the month, this is a book that we use deeply within the operation of our business. We hold regular weekly and quarterly meetings. The conduct of those meetings is framed through the teachings of this book, along with two other books.

Not only that, we have undertaken a book study within the leadership team of our assisted living business. The various construction managers, regional executive directors for each site, and the CEO of our operations company are all participating in the book study.

The way we conduct the book study is by reviewing one chapter each week together on a 30-45 minute zoom call. Each of the members of the team shares what they internalized from that chapter and how the teachings of that chapter apply to our business.

If you haven’t undertaken a book study, this is another way to consume content that involves internalizing the book’s contents in a meaningful way.

So let’s dig into the book Rocket Fuel. The title might seem a little obscure. The idea behind the title is that rocket fuel is made up of two vastly different elements, hydrogen and oxygen. By themselves, hydrogen and oxygen don’t have huge energy potential. But in combination, the results are extraordinary. So what does this obscure analogy have to do with business?

In companies that have visionary leadership, many of them fail because they lack the leadership to execute. At the other end of the spectrum, companies that focus on execution alone and lack vision also underperform. Those companies that achieve escape velocity are those that have a visionary leader, and an integrator. These are different skills and the magical pairing of these two attributes in two top leaders are the key to enable breakthrough performance.

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Host: Victor Menasce

email: podcast@victorjm.com

Fund Managers With No Control Jan 31, 2022

Show notes

The day was Black Monday, October 19, 1987. I remember it well. I was 24 years old and I was responsible for the management of the investment holding company that my mother had left behind when she died. I was only 18 years old at the time of my mother’s death. I knew very little about investing back in those days. I studied a lot and fortunately during those five years from 1982 through to 1987, the market conditions were very forgiving and it was had to make mistakes. But October 19 and the days that followed were very scary for a young 24 year old fund manager.

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Host: Victor Menasce

email: podcast@victorjm.com

George Ross Has No Crystal Ball Jan 30, 2022

Show notes

On today's show we're talking about how the rising price of energy could impact real estate investors. I love George's wisdom and perspective.

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Host: Victor Menasce

email: podcast@victorjm.com

Ryan Barone Jan 29, 2022

Show notes

Ryan Barone is based in NY where he is specialized in developing software to help landlords and tenants with the application process. He is the CEO of RentRedi.com. Today's conversation is filled with insights on the tenant application process.

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Host: Victor Menasce

email: podcast@victorjm.com

Gaps in Legal Advice Jan 28, 2022

Show notes

On today's show we are looking at two real estate portfolio failures where the principals naively thought they were getting good legal advice. Sadly, I see these situations very frequently.

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Host: Victor Menasce

email: podcast@victorjm.com

AMA - The 3D Printing Revolution Jan 27, 2022

Show notes

Today is another AMA episode (Ask Me Anything). Keeler writes:

Hello, what are your thoughts are with 3D printed concrete houses? I have dreamt about starting a company and mass-producing rentals and for-sale homes ever since being in the trades. Building custom homes, schools, apartments over the last 5 years I've seen how slow buildings take to be built, especially when there are better and faster options.

I believe that they are going to take the market by storm. At least in the warmer climates, they are quicker turnaround, durable, slick, different, and cheaper to make than the wood-framed houses with fewer people involved.

Do you think the average purchasing public, renters, investors, or developers might turn their nose at such an idea as a concrete house built in a couple of weeks?

Any considerations that you may be a roadblock?

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Host: Victor Menasce

email: podcast@victorjm.com

AMA - Short Term Rentals Through The Lens Of Supply and Demand Jan 26, 2022

Show notes

On today’s show we’re answering a second part to the short term rental question from the students at Virginia Commonwealth University and their Professor Joe Ridpath.

It is true that short term rentals are attracting attention from amateur investors. The promise of a higher average rent compared with the traditional unfurnished lease makes for a stronger business case.

But as with anything in the economy, you need look at the business case through the lens of supply and demand.

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Host: Victor Menasce

email: podcast@victorjm.com

Wall Street - Explaining The Inexplicable Jan 25, 2022

Show notes

On today’s show we’re going to pick apart the Wall Street narrative. In the world of stock investing, there are two schools of thought. There is a portion of the market that buys a stock on the basis of fundamentals. Fundamentals means, is the valuation for the company cheap or expensive based on its ability to generate earnings. What are the earnings multiples? In essence, what is the cap rate?

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Host: Victor Menasce

email: podcast@victorjm.com

AMA - Students Are Learning Too Jan 24, 2022

Show notes

Today’s show is answering a question for the students at Virginia Commonwealth University and their professor Josh Ridpath who has been using the Real Estate Espresso Podcast for course content in their program. Professor Ridpath writes:

“My students found your content on the inflationary pressures of the shipping bottlenecks and increased prices for packaging eye-opening.

Among my students, several of them only thought of real estate investing through the lens of Airbnb. I don’t have much experience in short-term rentals. Still, I thought it might make an interesting episode to make a quick comparison between the breakdown of income and expenses for a single-family home used as a traditional rental vs. a short-term rental. A lot of them only see the higher revenue on a nightly basis and have no basis for things like vacancy, management fees, and cleaning that isn’t typical in a traditional rental.

Thanks for all of the great content.”

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Host: Victor Menasce

email: podcast@victorjm.com

Jacob Garza Jan 23, 2022

Show notes

Jacob Garza hails all the way from San Antonio, Texas where he owns and manages a portfolio of approximately 2,800 apartments. Jacob got his start as a founder of a property management software company before selling the company and transitioning into owning apartments. You can learn more and connect with Jacob at jacob@jacobgarza.com or you can visit his website at reepequity.com.

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Host: Victor Menasce

email: podcast@victorjm.com

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