The Real Estate Espresso Podcast

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AMA - Zoning Versus Official Plan Nov 03, 2021

Show notes

Today's question comes from Ken in Idaho.

I have a property that is zoned rural and I’m considering developing for residential and I understand that I need a zoning change in order to build what I want. But I’m confused about terms like the official plan and the neighborhood plan and how they affect the zoning. The property needs to be annexed into the city to get the residential zoning. I’m also told that even though I’m in the county, the county road at the front of the property will also need to be annexed into the city and affect the development. Hoping you can clarify what I need to do?

This is a great question. This is a complex area. It’s made complex only by the layers upon layers that can come into play.

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Host: Victor Menasce

email: podcast@victorjm.com

Industrial Market Report 4Q 2021 Nov 02, 2021

Show notes

On today’s show we’re talking about what’s happening in the world of industrial real estate. In the past week, the brokerage firm Marcus & Millichap published 44 market reports on industrial real estate for Q4.

This is one of the largest and most comprehensive segment analyses I have seen. On today’s show we’re going to dive into a few of those markets to contrast what is happening.

BOM - The Goal by Eli Goldratt Nov 01, 2021

Show notes

Our book this month is "The Goal" by Eli Goldratt. This book was originally published in 1984 and was the groundbreaking book on the Theory of Constraints.

The book is written as a narrative surrounding a manufacturing plant manager named Alex who moves to a small town to take over the management of the plant. But the plant is struggling. Deliveries are late, the plant is losing money, and customers are unhappy. Senior management is threatening to shut it all down in less than 3 months if things don’t improve. Along the way, our hero encounters a scientist named Jonah who leads our protagonist through the thinking process to discover the principles that lead him to solving the problems that are plaguing his organization. In the story, Jonah clearly sees through all the talk of efficiency and correctly identifies the business is in trouble.

The problem is that the business is being measured against the wrong goals.

By focusing on efficiency and lowest cost per component, inventories were building in virtually all areas. Work in process inventory was growing, finished goods inventory was growing, but still shipments of some products were continually late.

The theory of constraints centers around practical methods for identifying solutions to business problems by deciding:

What to change
What to change it to
How to cause the change

The specific book I’m recommending today is the first in a series of books that apply to theory of constraints to specific business problems. This first one is a manufacturing plant. But the method can be applied to project management, and to sales, and retail management. The theory of constraints is a universal way of thinking that can be applied to virtually any business problem.

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Host: Victor Menasce

email: podcast@victorjm.com

Arjan Erkel Oct 31, 2021

Show notes

Arjan Erkel is based in Rotterdam. His story is one of the most powerful stories of overcoming adversity. While on a mission with Doctors without Borders, he was taken hostage and held in captivity for nearly two years. He is an extraordinary person who has truly embraced life and is making things happen.

He is also a founder of an organization combatting human trafficking called Free A Girl. So far, they have liberated more than 5,000 from sexual slavery. To learn more or to contribute, visit freeagirl.org.

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Host: Victor Menasce

email: podcast@victorjm.com

George Ross Oct 30, 2021

Show notes

On today's show George and I are talking about current events and the impact to real estate investors.

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Host: Victor Menasce

email: podcast@victorjm.com

Theory of Constraints Oct 29, 2021

Show notes

There is always something, some constraint, holding back progress. On today's show we're talking about how the Theory of Constraints can be game changing. Today's show is also a prelude to the book of the month coming up on November 1.

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Host: Victor Menasce

email: podcast@victorjm.com

Hiring in 2021 Oct 28, 2021

Show notes

On today’s show we’re talking about how to hire. I can tell you that I’ve hired hundreds of employees over the years.

We have recently brought several new members into our team and have focused on hiring for character. You can’t train character. People either have the kind of characteristics and attributes that will mesh with the organization or they don’t. You can’t train people to be committed. They either have that or they don’t. I’ve found that whenever there was a bad hire, it’s because we focused too much on skills and not enough on attributes.

I’ve heard from so many that hiring is difficult this year. I see the help wanted signs everywhere. I have no doubt that for tasks with low personal development and low impact, hiring will be difficult. There continue to be a lot of people out of the work force. Many of these people are those who have chosen to stay home for family reasons.

If you want to be hiring in 2021, consider that you need to offer more than just an hourly rate. You may want to consider engaging the heart, mind, and personal growth of your new team members.

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Host: Victor Menasce

email: podcast@victorjm.com

The Anxious Buyer Oct 27, 2021

Show notes

On today’s show we’re talking about the anxious buyer. The anxious buyer is desperate to get a deal done. They are usually lacking local relationships in the market and are trying to buy using the public MLS. They’re hoping to get a deal, but are finding the environment too competitive.

The anxious buyer behaves like the last waffle is about to disappear from the breakfast buffet. But the truth is, there is probably another pan of waffles in the kitchen and a fresh batch will appear in a few minutes.

The truth is, the marketplace is truly an all you can eat buffet of opportunity.

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Host: Victor Menasce

email: podcast@victorjm.com

Mineral Rights Oct 26, 2021

Show notes

On today’s show we’re talking about mineral rights. When we buy property, the mineral rights are usually part of the property itself. However, this is not a given. Often the mineral rights are separated from the property and can be subdivided in any number of ways.

For example, you might separate the oil and gas rights and sell those separately from the property to one entity. You could sell the water rights separately. You could sell the coal rights, and the gypsum rights. You might sell the remaining mineral rights to another party. There is no specific rule that says you have to do it any one way.

We are involved in the due diligence on a property where the title report consists of 259 pages. Buried deep in those pages are references to dozens of documents contained in the county records that grant certain rights to the holder.

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Host: Victor Menasce

email: podcast@victorjm.com

The Current Energy Crisis Oct 25, 2021

Show notes

On today’s show we are talking about the short term energy crisis that has gripped much of Europe and parts of Asia. You might be wondering what energy has to do with real estate. But the economy is inextricably linked to energy, and real estate is inextricably linked to the economy.

We have to remember that we are in the shoulder season between the extremes of summer heat and winter cold. This is the time of year where air conditioners are largely turned off, and heating systems have yet to be switched on for winter.

So why are we in such an energy pinch?

It turns out that energy producers scaled back production during the pandemic. We had such a glut of fuel in 2020 that for a short time, oil prices even went negative as oil futures contracts expired and the owner of the contract had no place to store the oil they just purchased. Global oil storage was at capacity. People were buying or renting rail cars and oil tankers just to have a place to temporarily store their new purchase in the face of collapsing demand and prices.

Fast forward a year and global supply chains are out of balance. This includes the energy supply chain. On top of that, unusual weather patterns in Europe reduced the production of renewable energy. Rainy weather in parts of Europe reduced the output of solar systems at the same time that the usually windy North Sea was calm. The massive wind turbines that dot the waters in the North Sea sat idle, shifting demand to the conventional fossil fuel methods of power generation.

The problem with wind and solar power is that it helps reduce your average production of energy from fossil fuels, but you still need to supply peak energy the old fashioned way.

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