The Real Estate Espresso Podcast

Latest Episodes:

Special Guest, Robert Helms Sep 04, 2021

Show notes

Robert Helms is the host of the Real Estate Guys Radio Show, now in its 25th year. Robert is a developer having developed projects all over the country and internationally. He hosts numerous live events on an annual basis. But after 18 months in the pandemic there is a certain amount of fatigue with virtual events. On today's show we're talking about the transition back to live events.

Robert will also be hosting the Secrets of Successful Syndication in Dallas on September 17-18. To learn more, send an email to syndication@realestateguysradio.com.

AMA - Damaged Hub Cap Sep 03, 2021

Show notes

This is another AMA episode (Ask Me Anything). Today's question comes from Joseph.

"Hey Victor;

Looking for another perspective. New tenant in SFH, I’m covering the lawn care. Tenant claims the hub cab on the car was broken by the gardener, pictures of location of vehicle and possibilities leave this situation extremely unlikely. The gardener tried to reason w/ the tenant and they are demanding he replace the hub cap. The cost of the hub cab on eBay is from $30 to $60 shipped.

I am cautious about honoring something that seems very unlikely and then opening up other situations.

Looking at it from the tenants perspective, and if they truly believe this happened, making good could go a long way.

I was considering crediting the money to the gardener and let him pay the amount as the “good cop” and then handle any more issues down the road, if any; taking previous concerns in to consideration.

What thoughts do you have?"

Joseph,

This is a great question. It falls into the category of how to handle any request from a tenant. This is encountered often in the world of property management. But the very name property management is a misnomer in my opinion. The property is an inanimate object and therefore can’t be managed. What you do influence is the tenant relationship.

I personally favour the approach you suggested in your question. By having the landscaping contractor pay for the damage, you are staying out of the dangerous waters of reimbursing the tenant for damage, even if you fund the landscaping contractor.

At the same time that you tell the tenant that you have contacted the landscaping contractor about the damage, take the opportunity to ask if everything is in working order at the property. That changes the posture from reactive landlord to proactive landlord. In the same conversation, let them know that you will be sending someone to change the air filters.

When tenants feel like they are getting ripped off by their landlord, they will often find hidden ways to get even with you. They may create artificial maintenance problems to see if you are responding to their complaints.

But if you are proactive and you demonstrate that you are proactive, it has a tendency to change the dynamic.

AMA - Hotel Repositioning Nightmare Sep 02, 2021

Show notes

Today is another AMA episode. This question comes from Jasdeep in N. Michigan. I’m going to summarize a very lengthy question.

We acquired a hotel from an absentee owner who had allowed the hotel to fall into disrepair over the past 20 years. The property had become a blight in the city. We are experienced hotel owner operators. We had a hard time finding a contractor to take this project. We did ultimately hire a contractor who acted unprofessionally and eventually worked to sabotage the project. In the ensuing dispute, the contractor caused city inspections resulting in a red tag being placed on the building, revoking the certificate of occupancy, and filed a mechanics lien on the property in excess of $400,000. They even contacted the local press who wrote a defamatory article on the hotel.

I would truly appreciate any thoughts you may have on our situation.

Jas this is a great question. There are a lot of moving parts to the situation.

There are really several different directions that we can take this discussion.

1) What were some of the root cause failures that seem to have happened in this case?

2) How to fix the situation from where you are now?

3) Where are there possibly remaining blind spots?

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Host: Victor Menasce

email: podcast@victorjm.com

BOm - The Hard Thing About Hard Things by Ben Horowitz Sep 01, 2021

Show notes

Today’s show we’re reviewing the book “The Hard Thing About Hard Things” by Ben Horowitz.

Ben Horowitz, is the cofounder of Andreessen Horowitz and one of Silicon Valley's most respected and experienced entrepreneurs, offers essential advice on building and running a startup—practical wisdom for managing the toughest problems business school doesn’t cover, based on his popular ben’s blog. Ben Horowitz and Marc Andreesen worked together in the early days at Netscape. They were truly among the founders of the modern day internet.

While many people talk about how great it is to start a business, very few are honest about how difficult it is to run one. Ben Horowitz analyzes the problems that confront leaders every day, sharing the insights he’s gained developing, managing, selling, buying, investing in, and supervising technology companies. Ben is one of the few people that truly speaks to the unspoken issues that entrepreneurs deal with.

Uncertainty Abounds Aug 31, 2021

Show notes

On today's show we're taking a look at uncertainty. You can take any headline and dive deep on the uncertainty that abounds. No answers. No recipe. Today's show is a prelude for September 1, where we review the book of the month.

AMA - Investing in Pennsylvania Cities Aug 30, 2021

Show notes

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

I've become increasingly interested in key Pennsylvania cities as new markets to invest in for rental properties. The cashflow an investor can achieve in cities such as Philly, Allentown, and Pittsburgh seem sustainable and appealing given the cost to purchase properties.

One factor I'm also considering - and I would value your take on - is whether the US will experience an increase in domestic steel production. Looking at larger geopolitical issues, it seems that the US will need to achieve far less reliance on countries such as China for key materials such as steel. Are these areas positioned for a boon in manufacturing? That can make all the difference in discerning an investment opportunity that has a 10-15 year span.

Thanks!

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Host: Victor Menasce

email: podcast@victorjm.com

Special Guest Tim Lyons Aug 29, 2021

Show notes

Tim Lyons is a NYC Fire Department Lieutenant, Emergency Room Nurse, and real estate investor. I've known Tim for several years and observing his journey has been wonderful to watch.

Tim has jumped into the world of multi-family investing and syndication. He forms part of a portfolio of over 1,000 units. You can connect with Tim at citysidecap.com.

Special Guest Sharad Mehta Aug 28, 2021

Show notes

Sharad Mehta is the CEO and founder of RESimpli, a software system designed to provide an end to end solution for residential real estate investors. You can connect with Sharad at his website RESimpli.com.

A Single Penetrating Statement Aug 27, 2021

Show notes

Today’s show was inspired by a simple statement. The statement was made by Adam Grant, who is a psychologist and author who is currently a professor at the Wharton School at the University of Pennsylvania where he specializes in organizational psychology.

I’ve read several of his books and his latest book entitled “Think Again” was our book of the month for March of this year.

Sometimes you hear a statement so profound that if you’re not paying attention it can pass you by. This statement by Adam Grant literally stopped me in my tracks. It was about 6AM and I was listening to a podcast as I waking up. I’m going to paraphrase what he said so it won’t be a direct quote.

Adam said, the reason mature companies do so much better than startups is they can focus on the hard things associated with optimization. Startup companies are so focused on the hard things associated with launching the business.

I heard that statement and had a moment of penetrating clarity.

Turning A Design Sideways Aug 26, 2021

Show notes

On today’s show we’re talking about design and dimensional constraints when you’re designing a living space..

Most people have a hard time looking at a set of plans and visualizing their furniture in that space. This is a process that comes with practice.

The most important room in a house to design well is the kitchen. In today’s homes, with the cost of construction, space comes at a premium. When you consider the utility of space, you have to consider how much real space is required for walking inside a home. If the spaces between elements are too small, even a large room can feel crowded.

On today’s show we’re going to give you a design idea to solve the problem of a room that is a bit too small.

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