The Real Estate Espresso Podcast

If there is one thing that has dominated conversations over the past few weeks in the world of new construction and development, it has been the impact of tariffs and global trade on new construction projects. Yesterday the President outlined his administration’s plan for tariffs by country, along with some special provisions for the automotive industry. We also don’t know what the international response will be from China, Germany, Japan, Korea Vietnam and many others. There were a few countries that have been making headlines over the past two months, specifically Canada and Mexico. Yet these two countries were noticeably absent from the countries subject to the newly announced tariffs from the Rose Garden address on April 2. That isn’t to say that Canada and Mexico are fully off the hook when it comes to tariffs. The automotive, steel and aluminum tariffs are still in place. The White House fact sheet says that tariffs affecting Canada and Mexico will not be stacked on top of existing tariffs. As you can imagine, this is a fluid situation and we might see further clarifications in the coming days and weeks. But that is what we know right now. As I’ve been saying for some time, the biggest impact on real estate investors will be the flow of capital in the bond market which directly affects the cost of borrowing for real estate investors. Retaliation from trading partners that impacts treasury yields will have a larger impact than any tariffs. So far since the start of the week, we have seen treasury yields on the 10 year bond fall from 4.36% to 4.07%. In addition to monitor pricing due to tariffs, I'll be paying attention to the bond market. ------------- **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)

On today’s show we are talking about a very real risk that is affecting real estate developers and property owners alike. It’s always been a risk that a contractor might go out of business. Sometimes contractors allow themselves to get upside down financially. This can happen for a variety of reasons. Sometimes it’s the result of a client not paying them in a timely manner which causes a cash flow problem. Sometimes it’s the result of poor financial management. The contractor keeps trying to get new business to keep the lights on. By the time they realize that they’re out of cash, they start robbing from one project to pay another and the downward spiral begins. The problems are not confined to contractors. In fact, we are currently seeing problems at subcontractors more frequently. In the past day, I’ve heard of several subcontractors who are in financial difficulty. Fortunately, none of our projects have been impacted or affected. But the risk is always there. When a subcontractor is in the throes of going bust, they will often ask for advance payments to procure materials. You will also see unexpected delays in supply of labor and materials arriving onsite. -------------- **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)

Our book this month is "The Great Game of Business," written by Jack Stack and Bo Burlingham. It presents a novel approach to business management centered on open-book management, employee empowerment, shared financial responsibility, and what I would describe as the gamification of business. It argues that by treating employees as partners and educating them about the company's financials, businesses can foster a culture of ownership, improve performance, and achieve remarkable results. The book chronicles Stack's journey transforming Springfield ReManufacturing Corporation (SRC), a struggling division of International Harvester, into a thriving employee-owned company. Faced with a factory closure, Stack and his team embarked on a radical experiment: To buy the plant from International Harvester with a tiny downpayment and massive amount of debt. They needed to turn these assets into a revenue generating business or go broke. Rather than use the management methods from their prior career at IH, they opened up the company's books, shared financial information with all employees, and taught them how to understand and influence the numbers. This became the foundation of "The Great Game of Business." ------------- **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)

On today's show we are in the middle of due diligence on a property that recently experienced a fire. Performing due diligence is more complex because there are more risks that are difficult to quantify. We have not made a decision on this particular property. But we are sharing the thought process that is present during this phase of project. ------------- **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)

Today's show is a recording from a talk I gave earlier this year in New York City. In this talk I am making the assertion that all real estate is the result of designing a product with a specific customer in mind. It's viewing the finished property through the lens of product design with a specific customer in mind. -------------- **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)

Jason Hartman is well known as a speaker and podcast host in the world of real estate investing. On today's show Jason and I are speaking about market selection and asset price inflation as a hedge against devaluation of the currency. To connect with Jason, visit jasonhartman.com or find him by name on most social media 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)

On today’s show we are talking about some of the innovations in tenant screening that hold the promise of saving time and increasing the quality of tenant screening. The processes are evolving driven by advancements in technology, changing legal landscapes, and growing market demands. Whether you’re a landlord, property manager, or a tenant screening service provider, staying ahead of these trends is crucial for optimizing tenant selection processes and ensuring compliance with fair housing laws. On today’s show, we’ll explore five emerging trends shaping the tenant screening industry. ------------- **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)

I often get questions from investors about how and when to form a family office. This is particularly urgent when there is a generational cascade of wealth from parents to kids, and eventually grandchildren. In fact the most frequent question I get is how much net worth is required to form a family office. When I think about this, the size of the assets determines the scope of solution. But the problems that persist are independent of the amount of wealth we are talking about. I learned about all of this when I was 18 years old. My mother unfortunately died when I turned 18 and my father didn’t have the understanding or the inclination to manage the family portfolio. That task fell to me from the time I was 18 years old. My mother set things up as a testamentary trust with my father as the income beneficiary of her estate and with my sister and I as the capital beneficiaries of her estate. We had a lawyer and an accountant who fulfilled an important role in helping to guide a set of decisions that were right for our family. Fortunately my sister and I got along well and we didn’t have issues. But I’ve seen it in many families. form irrespective of the parental guidance. Those differences get amplified when it comes to money and individual beliefs about money. You see money is just fuel and whatever beliefs you have about money are simply accelerated based on the amount of money in play. If your belief is that money is something to be used to buy income producing assets, then you will buy more income producing assets. If your belief is that money is for buying luxuries, then you will buy more luxuries. If you believe that money is for philanthropy and solving social problems, then you will vector your investments in that direction. It all starts with bringing clarity to the goals, not just for one individual, but for the family as a whole. I call this part of the family governance and that's the number one thing that a family office will do for you is bring your family together around how the family's money is to be managed. ------------- **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)

Today is another AMA episode (Ask Me Anything). Today's question comes from Emanuel who asks: "Are short-term rentals still a profitable niche, or should investors pivot to long-term leases given regulatory changes?" ---------------- **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)

The predictions about the current initiatives from the White House range wildly from a Ronald Reagan type outcome where the short term disruption results in a leaner more efficient government with better fiscal balance and a period of renewed economic prosperity. The other predictions point to a Jimmy Carter style disruption that results in stagflation. The arguments for each can be convincing. On today’s show we are looking at the negative implications of retaliations in the trade war that the White House has initiated. -------------- **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)

On today’s show we are looking at some simple AI automations that can save you time and increase the quality of your systems within your business. Specifically, the AI based note-takers can allows you to gain a whole lot of insight in your meetings. You can also link your meeting notes with your customer relationship manager software to automate the notes from your conversations with customers. Finally, you can connect your meeting notes with your task manager and automate action tracking from your meetings. --------------- **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)

Stephen Petasky is based in San Diego where he runs Luxus Vacation Properties. His company is delivering Four Seasons Residences properties across multiple markets in the US and internationally. On today's show we are talking about the various business models for luxury vacation properties and the merits of one versus the other. To connect with Stephen, visit: luxusvp.com or connect with him on LinkedIn at https://www.linkedin.com/in/stephen-petasky-86437711/ ----------- **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)

On today's show George and I are discussing the very public negotiations that are happening surrounding tariffs, defence spending, among many others. George taught negotiation at the law school at NYU for over 20 years. He was also Executive Vice President in the Trump Organization. I think you will find his insights helpful in understanding what we are observing in the news headlines. --------------- **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)

We are going to start a new feature on the podcast called Vic’s Picks. Vic’s Picks are predictions that I will be making quarterly. There will be a few predictions coming over the next couple of weeks for the second quarter. On today’s show we are talking about the implications of the 25% tariff on steel and aluminum imports, and I'm making a prediction that these tariffs will be short lived. ------------- **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)

On today's show we are putting the fear of uncertainty into context of the bigger picture. There is not shortage of uncertainty. But even with uncertainty, there is underlying predictability. ------------- **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)

On today’s show we are talking about why the Fed is so disconnected from the other central banks around the world. Only a few short months ago, you would regularly hear that the historically low interest rates of the 2010’s were a thing of the past and we can’t expect to see them again in our lifetime. Well, we are not far from those rates again, except in the good old US of A. The Federal Open Market Committee is meeting this week and we can expect the rate announcement this afternoon. The central bank is widely expected to hold rates constant at this week’s meeting with the market having priced in a 96% chance of no rate change at all. Many of the other central banks around the world are trending to historically low rates again. Is the Fed out of touch? ------------ **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)

Today’s show is another in our beginner series. We have people in our lives who are still in the learning phase. The audience for the Real Estate Espresso podcast is a sophisticated audience. Many of you own large portfolios of properties. But you probably have people in your life who are less experienced. Where do they go for information? So many of the information sources that are focused on the rookie investor in my opinion leave a bad taste in my mouth. So these few shows a month focused in the beginner series are designed to help investors who are still learning. On today’s show we are going to be looking into the so-called wave of distressed properties that are supposed to be hitting the market. Where are they? It seems like they are nowhere to be found. If you do find them, what is the seller looking for in a buyer? In order to answer this question, let’s break down the properties that are coming on the market today into a few different categories. To be clear, I speak regularly with commercial brokers across numerous markets. So what I’m discussing today is not just my opinion, but observations from commercial brokers in large markets. For the purpose of this discussion, I’m going to focus on multi-family apartment projects. Property sale listings are falling into four distinct categories: Each of these sellers has a different criteria for selling, and therefore is looking for something different in a buyer. ----------- **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)

On today’s show we are looking ahead a few decades and thinking about what changing demographics means for real estate investors. But first, if you believe that there is more to real estate than residential, then you may want to look at the Y Street Capital Storage fund. At Y Street Capital, we believe there is a significant opportunity in the storage industry. But it’s not the traditional view of storage. We look for the gaps in the market. Storage is saturated in many major markets across the US. But the opportunity is now in specific segments like boat and RV storage, industrial storage, climate controlled and what we call the Swiss Cheese opportunities where there are some areas that are simply underserved for no particular reason. If you’d like to learn more about our storage opportunities, visit ystreet capital and register for our investor portal. Investment opportunities are open to accredited investors residing in the US, by prospectus only and in compliance with securities regulations. Visit YStreetCapital.com and register for our investor portal at https://ystreetcapital.invportal.com/login ---------------- **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)

Scott Langham is with Whitestone Wealth Management, based in San Antonio Texas. On today's show we are talking about the different tax deferral strategies that are possible under the US Tax code. The 721 is a variant or derivative of the 1031 exchange that offers some unique advantages. Scott explains some of the nuances that could play a role in effective tax and estate planning. To connect with Scott, call 210-341-1515 or visit whitestonewm.com. -------------- **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)

Joseph Root is based in Chicago where he is a principal at East Superior Real Estate Partners. This multi-generational family business invests in Chicago an other markets in the midwest. On today's show we are talking about the dynamics and merits of midwestern markets along with the complexity of vintage buildings. To connect with Joseph you can find him on LinkedIn at https://www.linkedin.com/in/rootjoseph/ or at his company at esrepartners.com. ------------- **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)