The Real Estate Espresso Podcast

Latest Episodes:

The Weakness of Protectionism Jul 03, 2024

Show notes

On today’s show we are talking about the wave of protectionism that seems to be sweeping several of the world’s major economies. The question is, “What does it mean and what are the long term implications?”

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**Real Estate Espresso Podcast:**
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BOM - Transforming The Irvine Ranch by Oliver and Stockstill Jul 01, 2024

Show notes

Transforming the Irvine Ranch is the story of a 93,000 acre ranch into the city of Irvine California. It is one of the most studied master plans in university courses related to urban planning.

On Saturday’s show my guest was Michael Stockstill, one of the authors of the book. On today’s show we’re going deeper into the book itself. The reason the book is so impactful, at least for me, is that virtually every complexity that could impact a development project is chronicled in the history of Irvine Ranch.

I personally like the biography genre of book. But in this case, this isn’t the biography of a famous person. It’s the biography of a ranch that became a city.

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Mobile Home Park Investing with Kevin Bupp Jun 30, 2024

Show notes

Kevin Bupp is based in Tampa Florida, but invests in mobile home parks and parking lots nation wide. On today's show we are talking about the similarities between mobile home park investing, how the market has changed in the past 24 months and the criteria for investing in parking assets.

To connect with Kevin you can find him on most social media just by search for his name, or visit investwithsunrise.com

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Master Planned Community with Michael Stockstill Jun 29, 2024

Show notes

Michael Stockstill was the public relations manager and then the government relations manager for the Irvine Corporation. He's also the author of the recently published book "Transforming The Irvine Ranch". On today's show we are talking about the challenges associated with building a new city. It's the story of the transformation of 93,000 acres of ranch into what is now modern day Irvine California.

To connect with Michael and to learn more, visit https://thebigplanbook.com/

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Speculation Can Bite You In The A$$ Jun 29, 2024

Show notes

On today’s show we are talking about the dangers of speculating and making purchases that are significantly above market. Some markets like Vancouver and Seattle have long experienced a significant influx of foreign buyers who have created upward pressure in the market over a sustained period.

Some luxury condo towers in Vancouver were offering pre construction units in luxury buildings at stratospheric prices of $2,600 to $3,000 per square foot at a time when comparable units that were one or two years old across the street were selling for $1,500 per square foot. The condo developers were still able to sell enough units to get their construction financing at these high prices.

Of course nobody can possibly predict the future. The chances of all the planets aligning and delivering the required value increase are so slim that you had better be buying the property all cash. If you’re intending to finance the purchase, chances are high that the property will appraise well below the purchase price when it comes time to close. No lender is going to rate lock and approve a loan that is taking place 3-4 years in the future.

The developer was irresponsible for proposing those high sales prices and the construction lender was irresponsible for lending against a project that had such a high premium to the market.

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US Supreme Court Tax Ruling Jun 27, 2024

Show notes

On today's show we are looking at a verdict issued by the US Supreme Court in the case of Moore vs the United States. When the court rules unanimously then you can have reasonable confidence that the court’s interpretation of the law is consistent. But when you have dissenting opinions by judges who are supposed to be the most learned of legal scholars, it leaves major questions about the fairness of the legal system. In this case it was ruled by a vote of 7-2.

The case leaves the door open for further attribution of income that was not received by taxpayers and is deemed to be taxable even though the funds were never received.

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AMA - Streamlining The Approval Process Jun 26, 2024

Show notes

Today's question comes from Matthew in upstate NY who writes:

Hi Victor, I own a commercial construction firm and the City and Town of Canandaigua , NY. Officials have asked me, a residential contractor and developer to come speak on current struggles developers and contractors are seeing in this market. I feel like a broken record. I listen to you all the time with regards to codes, zoning, utility, and building permit process, all of these come at a cost of TIME and Money. I feel most boards don’t have any construction or business education and decide to make comments just for the sake of commenting. If you have/were presenting, what guidance would you provide to an official to streamline process the best government logically could?

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The Global Perspective on Real Estate Investing Jun 25, 2024

Show notes

On today’s show we are talking about the global perspective on investing. At the heart of all investing is the law of supply and demand.

In real estate that’s a combination of factors.

Demographics. Is population growing or shrinking based on birth rate? That variable has a slow but profound impact on demand for housing. We will come back to that later.
Immigration. Is population rising or falling based on migration of people from around the world?
Jobs. Does the area experience employment growth and does the local economy mean rising or falling prosperity for the population at large?

Most developed economies have shrinking population due to declining birth rates. People are not having as many babies as they once did. That’s true throughout Western Europe, Russia, the United States, Canada, Japan, China, South Korea, Brazil and countless others.

This means that in the absence of immigration, demand for housing is going to fall in the long term. We see this in Japan where there are more than 11M vacant homes. This is a dramatic about face from the situation in the 1980’s when it seemed that Japan’s economy was unstoppable.

Population is growing in the US and Canada through immigration, and to a lesser extent migration.

We talk about all of the problems in our respective countries. But many countries are not attracting immigration.

I don’t know of millions of people moving to China, or Russia, or Japan. The population in the US is growing at 0.4% per year, largely through immigration. The population in Canada is growing at 1.8% per year, almost entirely as a result of immigration. It’s that growth that makes these destinations attractive for foreign investment when you layer it on top of the global alternatives.

International Investing Jun 24, 2024

Show notes

On today's show we are talking about international investing. Real estate investing is a hyper local business. But that doesn’t mean you have to live near your investments. Live where you want to live and invest where the numbers make sense.

There are many people who live in the North East of the US and only invest in Texas or Florida for example. In our company we are active in several states across the US and we are also active in Canada.

We build what we think is the right product for a given location based on supply and demand and the financial metrics for that specific location. These are almost always special situations. These are special situations in the sense that it is a unique combination of circumstances that creates the inefficiency in the market and leaves behind what we believe is a glaring opportunity.

Now I need to be clear, we are not scouring the market for opportunities. With very few exceptions, these have all come to us unsolicited.

It doesn’t matter if the project is in Colorado or Florida or Utah or Canada.

I’d like to invite you to attend an upcoming webinar on Tuesday evening to learn more about a new project in Ottawa Canada.

Today’s episode is not a solicitation for investment. The opportunity is open to accredited investors residing in the US and will be by prospectus only in compliance with US securities regulations.

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Here is the Link to Register for the Webinar. If you can't make the exact time of the webinar, register anyway and we will send you the recording.

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Staying Out Of Probate Court with Alessandro Chesser Jun 23, 2024

Show notes

I’d like to invite you to a webinar that we are holding this coming Tuesday. This is an investment opportunity that is open to accredited investors only for a new apartment project located in Ottawa Canada. The link to register for the webinar is HERE

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Our guest today is Alessandro Chesser from the San Francisco Bay area. His company is removing the friction associated with protecting property in living trusts. This is a fascinating innovation in the industry. To connect and to learn more, visit https://www.getdynasty.com/

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