The Real Estate Espresso Podcast

Latest Episodes:

Live Work Play Jun 13, 2024

Show notes

On today’s show we are talking about a new product that we are increasingly incorporating into our new development projects. When we undertake a development project we are starting with raw land. It’s a blank canvas. It could be whatever the mind can imagine when completed.

The traditional approach has been to build mid-rise apartment complexes. But thee apartments are increasingly saturating the market. They are among the highest density in the market and are generally constrained by parking.

Then you find the build to rent communities that are cropping up all over the country. This sounds like a new concept. But they existed back in the late 1960’s and early 1970’s.

But since these communities have been built in so long, what’s old is new again. The beauty of a build to rent community is that people prefer to live in a low density environment such as detached single family homes or townhouses.

Back in the 1960’s, building standards were not as high as they are today. The sound isolation between townhouses and apartments was not as good as it is today.

Our solution to this is a particular type of townhouse that we call Live Work Play.

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**Real Estate Espresso Podcast:**
Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1)
iTunes: [The Real Estate Espresso Podcast](https://podcasts.apple.com/ca/podcast/the-real-estate-espresso-podcast/id1340482613)
Website: [www.victorjm.com](http://www.victorjm.com)
LinkedIn: [Victor Menasce](http://www.linkedin.com/in/vmenasce)
YouTube: [The Real Estate Espresso Podcast](http://www.youtube.com/@victorjmenasce6734)
Facebook: [www.facebook.com/realestateespresso](http://www.facebook.com/realestateespresso)
Email: [podcast@victorjm.com](mailto:podcast@victorjm.com)
**Y Street Capital:**
Website: [www.ystreetcapital.com](http://www.ystreetcapital.com)
Facebook: [www.facebook.com/YStreetCapital](https://www.facebook.com/YStreetCapital)
Instagram: [@ystreetcapital](http://www.instagram.com/ystreetcapital)

What Is Your Implied Marketing? Jun 11, 2024

Show notes

On today’s show we are talking about the positioning of a real estate investor in the marketplace.

Let me be clear, on today’s show I may offend a few listeners. But I’m not here to offend. I’m here to reflect back what many investors marketing is saying. There is nothing wrong with being new. Everyone started at the beginning. But be aware that wherever you are in your journey, you are sending a message.

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Can We Trust The Employment Statistics? Jun 10, 2024

Show notes

On today’s show we are taking a closer look at the employment statistics that were released last Friday. The headline in the Wall Street Journal read “Hiring and Wages are Up, Reinforcing the Economy’s Resilience”. The subtitle to the article then reads: “The U.S. posted surprisingly large gains in both jobs and pay, even though the unemployment rate ticked up to 4%” CNBC said “U.S. adds a much-better-than-expected 272,000 jobs in May, but unemployment rate edges up to 4%.” Each month there are two surveys conducted. The establishment survey queries employers about how many people they have hired in the past month. The household survey queries families about their income and employment situation.

The bottom line of all the articles I read was that the establishment survey being this strong would signal to the Fed that the jobs market is still very robust and that they will have no choice but to maintain rates higher for longer.

Frankly this is a narrative that is supported by half truths at best. The economists at the Fed know how to read the household survey and draw a reasonable conclusion.

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Stay connected and discover more about my work in real estate and by visiting and following me on various platforms:
**Real Estate Espresso Podcast:**
Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1)
iTunes: [The Real Estate Espresso Podcast](https://podcasts.apple.com/ca/podcast/the-real-estate-espresso-podcast/id1340482613)
Website: [www.victorjm.com](http://www.victorjm.com)
LinkedIn: [Victor Menasce](http://www.linkedin.com/in/vmenasce)
YouTube: [The Real Estate Espresso Podcast](http://www.youtube.com/@victorjmenasce6734)
Facebook: [www.facebook.com/realestateespresso](http://www.facebook.com/realestateespresso)
Email: [podcast@victorjm.com](mailto:podcast@victorjm.com)
**Y Street Capital:**
Website: [www.ystreetcapital.com](http://www.ystreetcapital.com)
Facebook: [www.facebook.com/YStreetCapital](https://www.facebook.com/YStreetCapital)
Instagram: [@ystreetcapital](http://www.instagram.com/ystreetcapital)

Assessing Customer Credit with Josh Pardue Jun 09, 2024

Show notes

Josh Pardue is based in Tampa Florida. Josh is a repeat guest on the show. But this was actually the first episode recorded and accidentally published out of order. Josh was also a guest on May 11. On today's show we are talking about how to underwrite the risk of single tenant commercial properties.

To connect with Josh, he is available on most social media including Facebook. https://www.facebook.com/joshua.pardue

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Host: Victor Menasce

email: podcast@victorjm.com

Advanced Asset Protection with Michele Fischbein Jun 08, 2024

Show notes

Michele Fischbein is based in southern California where she works as a tax and asset protection attorney with the firm Tresp Day.

On today's show we are talking about asset protection structures that were pioneered in part by some of the partners in her firm.

A few weeks ago we also hosted a webinar with Michele which included a deeper dive into the principles we discuss on today's show. The link to the webinar recording is HERE in the show notes.

To learn more and to connect with Michele, visit trespday.com or email her directly at info@trespday.com

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Host: Victor Menasce

email: podcast@victorjm.com

Can This Land Be Developed? Jun 07, 2024

Show notes

Later today we will be hosting a Facebook Live and a LinkedIn Live session with our Partner Amy Johnson.

Join us live to ask Amy Johnson how she gets deals done. Around the United States, Amy owns self-storage, multifamily, and develops land as a partner with Y Street Capital. She has a 15-person brokerage, has developed 500 acres of land and 500,000 square feet of self-storage, and renovated several hundred apartment units over her time as an investor. Bring your questions and join us live Friday, June 7 at 3 PM Mountain Time, 5PM EDT.

https://www.linkedin.com/events/deal-making-askamyjohnsonanythi7199448061411041281/theater/

https://www.facebook.com/share/TDH2xPXf9wckjdSo/

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On today's show we are taking a look at a land development query that came from a potential consulting client. Many of these projects are simply not possible. But then there are a few.

Stay connected and discover more about my work in real estate and by visiting and following me on various platforms:

Real Estate Espresso Podcast:
- 🎧 Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1)
- 🌐 Website: [www.victorjm.com](http://www.victorjm.com)
- 💼 LinkedIn: [Victor Menasce](http://www.linkedin.com/in/vmenasce)
- 📺 YouTube: [The Real Estate Espresso Podcast](http://www.youtube.com/@victorjmenasce6734)
- 📘 Facebook: [www.facebook.com/realestateespresso](http://www.facebook.com/realestateespresso)
- 📧 Email: [podcast@victorjm.com](mailto:podcast@victorjm.com)
Y Street Capital:
- 🌐 Website: [www.ystreetcapital.com](http://www.ystreetcapital.com)
- 📘 Facebook: [www.facebook.com/YStreetCapital](https://www.facebook.com/YStreetCapital)
- 📸 Instagram: [@ystreetcapital](http://www.instagram.com/ystreetcapital)

Are Rate Cuts Coming To A Bank Near You? Jun 06, 2024

Show notes

This coming Friday we will be hosting a FaceBook Live and a LinkedIn Live session with our Partner Amy Johnson.

Join us live to ask Amy Johnson how she gets deals done. Around the United States, Amy owns self-storage, multifamily, and develops land as a partner with Y Street Capital. She has a 15-person brokerage, has developed 500 acres of land and 500,000 square feet of self-storage, and renovated several hundred apartment units over her time as an investor.Bring your questions and join us live Friday, June 7 at 3 PM Mountain Time, 5PM EDT.

https://www.linkedin.com/events/deal-making-askamyjohnsonanythi7199448061411041281/theater/

https://www.facebook.com/share/TDH2xPXf9wckjdSo/

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On today's show we are talking about interest rates. Canada dropped its key lending rate 0.25% on Wednesday and the European Central Bank cut its lending rate 0.25% on Thursday. Sweden cut its rate a month ago and Switzerland cut its rate in March. What does this mean for Fed policy?

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Host: Victor Menasce

email: podcast@victorjm.com

Past Performance Is NOT an Indicator of Past Performance Jun 05, 2024

Show notes

This coming Friday we will be hosting a FaceBook Live and a LinkedIn Live session with our Partner Amy Johnson.

Join us live to ask Amy Johnson how she gets deals done. Around the United States, Amy owns self-storage, multifamily, and develops land as a partner with Y Street Capital. She has a 15-person brokerage, has developed 500 acres of land and 500,000 square feet of self-storage, and renovated several hundred apartment units over her time as an investor.Bring your questions and join us live Friday, June 7 at 3 PM Mountain Time, 5PM EDT.

https://www.linkedin.com/events/deal-making-askamyjohnsonanythi7199448061411041281/theater/

https://www.facebook.com/share/TDH2xPXf9wckjdSo/

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On today’s show we are taking a twist on a familiar saying. You’ve no doubt heard or read the disclaimer sentence that says past performance is not indicative of future performance. You will see that in the fine print of virtually every mutual fund, exchange traded fund, publicly traded stock and even private investment offering.

That’s kind of an obvious statement. None of us have a crystal ball and we can’t predict the future.

But on today’s show we are saying that "Past performance is not indicative of past performance."

AMA - Standby Letter of Credit Jun 04, 2024

Show notes

On today’s show we are talking about a question that came to me on a phone call yesterday morning. The person asking the question was seeking to help another investor who has run into financial difficulty.

The question was whether a standby letter of credit could be used to help a real estate investment firm that was seeking to refinance their bridge debt into a lower interest rate permanent financing.

Given that the person asking the question wasn’t clear, I thought it would be helpful to share the question and the answer live on the show.

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Host: Victor Menasce

email: podcast@victorjm.com

A Project Moves Into The "Win" Column Jun 03, 2024

Show notes

On today’s show we are talking about a project of ours that recently completed the zoning approval process.

This is a 20 acre site in a suburb of Salt Lake City called Brigham City. The property itself is situated next to one of the two highway interchanges from Interstate 15 into Brigham City. Immediately across the street is a new Walmart Super Center.

The total site plan consists of the Marriott Town Place Suites hotel, 120 apartments, 50 townhomes, and several buildings of flex multi tenant industrial. All of these products have to have the requisite amount of parking. It is the surface parking that ultimately determines the density that can be achieved. At one point in the design process we had proposed a larger number of apartments. But this has to be scaled back to meet the parking ratios required for a viable project.

Throughout the process, the economic outlook in the area accelerated. One of the main contributors is the newly announced Inland port.

It took a few months longer than we expected, but we have an amazing project that we expect to create a lot of value for our investors. To be clear, we are not soliciting for investment and just sharing our story about this project. This project was funded over a year ago.

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