The Real Estate Espresso Podcast

Latest Episodes:

Free Time with Jenny Blake Jan 22, 2022

Show notes

Jenny Blake is the author of the upcoming book "Free Time: Lose the busywork, love your business". On today's show we're talking about a few of the central ideas in the book and about some of the factors that are limiting for business owners. Loved this conversation with Jenny Blake.

To order an advanced copy visit http://itsfreetime.com/book

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Host: Victor Menasce

email: podcast@victorjm.com

AMA - After The Fire Jan 21, 2022

Show notes

Today is another AMA Episode (Ask Me Anything). Today's question comes from Joe who writes.

"I live outside Boulder Colorado near the small town of Superior/Louisville. We had just experienced a devastating fire that destroyed over 900 homes. This comes at a time when inventory, for sale and for rentals, is at an all time low with massive demand (~0.3 months supply in Boulder County). As a Realtor and landlord in the area, I am seeing my colleagues raising rents over 30% and removing homes previously listed on the market only to put them back up at 20% higher values a few days later.

I understand the relisting homes at a higher price, as an agent we need to do what's best for our clients but as a landlord I am debating with myself on what our responsibilities to the local community to try and maintain a reasonable increase in rent and not try to gouge people in this hard time.

I'd love to hear your thoughts on how we as investors can approach the unique surge in an already tight real estate market.

Thanks for all your work on the podcast my wife and I listen every morning as part of our routine!"

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Host: Victor Menasce

email: podcast@victorjm.com

AMA - Principal Residence Jan 20, 2022

Show notes

Today’s question comes from Evan who writes.

I have 3 rental properties and a primary residence that we'd be looking to retain and rent. Like a lot of people we're looking for a bigger house and bigger yard out in a charming suburb. I don't really know how to think about it though. It's much easier to crunch numbers on rental properties than it is a primary residence. On the one hand you have to live somewhere and real estate can be a great asset class and store of wealth, on the other hand it's a big expense and generally cash-flow negative. How do you look at buying a primary residence? Is this crazy housing boom we're in now a good time to buy? Is it only going to get crazier?

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Host: Victor Menasce

email: info@victorjm.com

The Fed Is Out Of Ammo Jan 19, 2022

Show notes

On today’s show we’re going to look at what’s happening in monetary policy and how that will affect the stock market in the coming weeks and months, and how this could affect investment psychology and some of the factors that could even trigger a recession.

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Host: Victor Menasce

email: podcast@victorjm.com

AMA - The Right Environment Jan 18, 2022

Show notes

Today is another AMA episode (ask Me Anything). Today’s question comes from Anna who asks,

“Thank you so much for all of your production and insight into real estate investing. You are highly regarded in the real estate investing realm.
I have been trying to get into real estate investing for the past 2 years and seeking to do exactly what you did (make a hard left turn from my current career to full time real estate investing). I know you discuss the importance of the following 3 principals for getting into real estate investing: the right knowledge, the right mindset, and the right environment. I feel like I have grown a lot in gaining the right knowledge and mindset, but I feel like I have had trouble getting into the right environment. I know of real estate investing associations, but unfortunately I have found them to yield little fruit, maybe because everyone seems to have jumped on the real estate investing train and trying to rub elbows with the right people is like trying to find a needle in the hay stack.
Maybe you could explain your personal experience with how to get into the right environment and how your experience in the mid 2000s compares to today. Any suggestions for how you would coach yourself today to solve the right environment principal?”

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Host: Victor Menasce

email: podcast@victorjm.com

Web 3.0 - Virtual Land (Is it Real Estate)? Jan 17, 2022

Show notes

We are continuing our series on the evolution of the internet with Web 3.0. Every Monday in the month of January we are covering a different aspect of the new distributed internet, which most people associate with crypto-currencies like Bitcoin.

On today’s show we’re talking about virtual land on the internet. There are a number of startups that are creating virtual worlds. There is a big bet being made that virtual reality will move out of the early adopter phase into becoming more mainstream.

Facebook is placing a large bet on these virtual worlds, and they even changed the name of the company to Meta to reflect their bet on the metaverse. The internet has evolved from text to images to video. But video is not the end of the line. There is a far more immersive experience possible, whether it’s a real live video connection, like we experience today on zoom, or a virtual reality platform.

The Meta product is called the Sandbox. All of the items inside a metaverse like land, furniture, avatars, clothing, artwork are made up of tokens. In the language of web 3.0, these are called non-fungible tokens or NFT’s. The first of these worlds is a game called Horizon Worlds.

Some skeptics think there is no intrinsic value in these virtual systems. But that ignore the economic value of the entire gaming industry. The gaming industry is well established and clearly worth millions. Most of the advanced games on consoles like the Xbox or the Playstation have some version of an immersive virtual reality experience. But the spoils go to the platform owners and the software developers. These are relatively closed systems and the concentration of wealth is in the hands of a few. Web 3.0 hopes to democratize that. I personally have my doubts that it will happen.

There needs to be interoperability between different platforms. You need to know that you own your avatar, and your tokens not the platform.

Today the largest truly decentralized metaverse is on a platform called Decentraland.

This is a virtual world with avatars that you can use to explore the locations. You can buy real estate in these worlds and you can resell the real estate. Like in the real world, you can visit places.

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Host: Victor Menasce

email: podcast@victorjm.com

Live From Quarantine Jan 16, 2022

Show notes

Yep, I'm going to be out of circulation for a few days. I've tested positive and am in an isolation area at a resort in Mexico.

Dr. Neel Chadha Jan 15, 2022

Show notes

Dr. Neel Chadha is barely 30 years old, works full time in his medical practice and has developed his first senior housing facility as a side hustle. On today's show we're talking about his journey as a first time developer, and as a first time operator of a senior housing facility with several areas of specialty including assisted living and dementia care.

This conversation is packed with powerful lessons.

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Host: Victor Menasce

email: podcast@victorjm.com

No Meaningful News Sources Jan 14, 2022

Show notes

Today’s show is a search of quality real estate news in the mainstream media. I suppose it’s also a critique of the Wall Street Journal. I’ve been reading the Wall Street Journal since I was a teenager. Yes, I know that sounds completely weird. As a teenager, I would go to the news stand and purchase the physical paper. Even if I was traveling in Europe as a kid, I would buy both the FT and the WSJ and the differences between the US edition and the European edition of the WSJ were readily apparent. I would also regularly buy the Sunday edition of the NY Times. I loved the fact that the NY Times Sunday edition was so thick it would take me an entire week to go through it.

But today, much as I appreciate some of the reporting in the WSJ, I have to give them a failing grade for their real estate section.

I went in search of more mainstream publications hoping to find something meaningful on real estate. Forbes Magazine, owned by publisher and libertarian Steve Forbes, sadly had little more to offer. Their real estate page was filled with stories of luxury properties. One article talked about exploring Paradise Valley, Arizona’s most expensive zip code.

I know that the Forbes Council on Real Estate has some esteemed members. But somehow the access to this talent has not translated into meaningful content in the publication.

The Financial Times doesn’t have a real estate section at all. Their reporting of economic and stock market news rivals the quality of the WSJ. But again, no commercial real estate news.

Even Bloomberg News doesn’t cover real estate. The latter is not that surprising because Bloomberg has its roots on Wall Street having developed the industry’s fastest trading terminals for market traders.

More Economic Disruption and Stagflation Jan 13, 2022

Show notes

The 0Micron variant is not serious enough to bring the world to a halt.

That is, except for one thing. Because this virus, barely more virulent than the common cold has been sequenced, it carries with it the dreaded Covid-19 brand name and therefore this is a disease that must be stopped at all costs.

The problem is that it can’t be stopped.

The World Health Organization came out publicly and stated yesterday that they expect 50% of Europeans to become infected with Covid-19 over the next several weeks. It’s actually astounding that the WHO is so far behind in reporting what has been evident for more than a month.

Over the next two months we will continue to experience supply chain shortages across a wide array of products. China has shut down major regions to limit the spread of the disease as they prepare to host the winter Olympics. Further supply chain disruptions will result from China’s attempt to create a Covid free environment for the Olympics. This means that we will see rising prices as customers compete and bid up the price for increasingly scarce supply. But at the same time we will see a decline in GDP. This gives rise to the so-called stagflation that rarely occurs, but is theoretically possible whenever there is an artificial constraint on economic output that hampers the functioning of a free market economy.

We are certain to see Q1 as a quarter of economic contraction. The big question is whether this will persist beyond first quarter.

If you remember earlier last week I went out on a limb to predict that we are likely to witness the current outbreak of 0micron as the end of the pandemic within a matter of weeks. I predicted that the pandemic as we know it will be behind us by the end of February. I am standing by that prediction.

But that doesn’t mean we won’t experience economic hardship during the next two-three months.

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Host: Victor Menasce

email: podcast@victorjm.com

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