The Real Estate Espresso Podcast

Victor Menasce
  • 4.9 (133)
  • Investing
  • Updated Daily

Welcome to The Real Estate Espresso Podcast, your morning shot of what's new in the world of real estate investing. Join investor, syndicator, developer, and author Victor J. Menasce as he shares his daily real estate investment outlook. Our weekday episodes deliver 5 minutes of high-energy, high-impact content to fuel your success. Plus, don't miss our weekend editions featuring exclusive interviews with renowned guests such as Robert Kiyosaki, Robert Helms, Peter Schiff, and more.

  1. 6h ago

    Don't Tell Me. Show Me.

    Most people are still using artificial intelligence as though it were a slightly more sophisticated search engine. They type a question into a chat window, receive an answer, and then go back to performing their work manually. That approach can save a few minutes. But it misses the larger opportunity. Both OpenAI and Anthropic have recently introduced capabilities that allow you to teach the system a workflow by demonstrating it on the computer screen. You press record, perform the task yourself, and the software observes your mouse movements, keyboard entries, browser navigation, and sequence of decisions. You can then save that recorded process as a reusable skill. Think of this as training a new administrative employee. You don’t merely tell them, “Prepare the weekly report.” You sit beside them and demonstrate where the source information is located, which files to open, what information to copy, how to name the finished document, and where to save it. Once the skill has been recorded, the computer can repeat that sequence. For a real estate investor, the possibilities are substantial. --------- **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)

  2. 1d ago

    Are Second Homes an Investment?

    There are between 5.7 and 6.5 million second homes in the United States. That represents a meaningful portion of the housing stock, about 5% if you consider that there are about 133 million households in the US.  When people hear the phrase second home, they often picture an oceanfront mansion owned by someone in the top one percent. But when you compare several million second homes with the total number of American households, it becomes clear that ownership extends well beyond the ultrawealthy. Some are lake cottages that have been in families for generations. Some are small condominiums in warm climates. Others are hunting cabins, inherited homes, or houses purchased near children and grandchildren. This raises an interesting question. When does a second or third home become an investment rather than simply a vacation property? Ownership alone does not make something an investment. A vacation home is primarily purchased to provide a personal experience. That is consumption, even when the asset increases in value. There is nothing wrong with consumption. The problem arises when people describe a lifestyle purchase as an investment to justify spending more than they can comfortably afford. An investment property begins with a different question. Instead of asking, “Would I enjoy owning this property?” the investor asks, “What economic problem does this property solve, and what return should the capital produce?” ------------- **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)

  3. 2d ago

    Is A Bridge Like Commercial Real Estate?

    Today's show is sponsored by the Cost Segregation Guys. They can help accelerate depreciation and improve your property's cash flow. Click on the LINK to qualify for a discount. ------------- The Gordie Howe International Bridge between Windsor and Detroit is a major infrastructure project between two nations. But beneath the politics and engineering is a financial structure that closely resembles many real estate partnerships. Canada agreed to fund the project when Michigan declined to provide upfront capital. Through the Windsor-Detroit Bridge Authority, Canada assumed the cost of design, land acquisition, construction, and supporting infrastructure on both sides of the border. The project cost is approximately 6.4 billion Canadian dollars, or about $4.5B USD. Under the original 2012 agreement, Canada would collect the toll revenue. That revenue would first pay operating and maintenance expenses. After those costs were covered, the remaining cash flow would be used to repay Canada’s capital investment and financing costs. Only after Canada had recovered its investment would the remaining profits be split equally between Canada and Michigan. That structure should sound familiar to real estate investors. It follows a common waterfall. A later 15 year side agreement introduced a different revenue structure. During that period, net revenue is divided equally. Net revenue means toll collections after direct operating expenses have been paid. Canada’s half is applied toward construction and financing costs. The United States’ half is directed into a regional economic development fund supporting infrastructure in the border corridor. This structure also has merit. There is no right or wrong. The real question is whether the economics can support both objectives without placing the original capital at unreasonable risk. That is the same balance we seek in a well-structured real estate partnership. We need enough cash flow to operate the asset. We need sufficient reserves to manage uncertainty. We need a credible path to return investor capital. And we need a profit-sharing structure that rewards everyone who contributes to the project’s success. But a waterfall cannot create money that the underlying asset does not generate. Structure matters, but economics come first. ----------- **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)

  4. 3d ago

    Skipping Steps Leads to Failures

    A few days ago I reported on the structural failure at the former Pfizer headquarters at 235 East 42nd Street in Manhattan. Late last week we learned a few more details. The structural engineer on the project has now publicly stated that the reinforcing steel specified in the construction drawings was apparently never installed on the two columns that ultimately buckled. If that statement ultimately proves to be correct, then this wasn't a design failure. It was an execution failure. The columns in question are made of steel. They are made of structural steel that looks like an I beam, except it is vertical instead of horizontal. The engineer called for steel plates to be welded to the sides of each beam in order to create a box beam out of the I-beam profile. This was not done. The photos of the failed columns clearly show the original columns with no welded plates. I’ve looked at the detail on the structural drawings which clearly show the treatment for four different types of columns. The columns near the exterior are the ones in question.  That makes me ask a different question. How did this get past everyone? Now, I want to be careful. The official investigation is still underway. The Department of Buildings, the Department of Investigation and independent forensic engineers are all examining what happened, and no final conclusions have been reached. The city has also expanded inspections to other projects involving the same developer and inspection firm while investigators determine whether broader quality-control issues exist. But regardless of where responsibility ultimately lands, this incident exposes something much larger. A gap in quality assurance. Quality assurance isn't glamorous. Nobody celebrates it. Nobody gets awards for finding problems before they become disasters. But every high-reliability industry depends on it. Software isn't shipped without testing. Aircraft aren't delivered without  every component undergoing inspection and certification. Automobiles undergo extensive inspection on the factory floor before they're ever sold. As you think about that, ask yourself one simple question. In your own business, where are you relying on assumptions instead of verification? ----------- **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)

  5. 4d ago

    Burt Mulwitz

    Burt Mulwitz is based in Pataya in Thailand. He has been investing in real estate over 7 decades. On today's show he is sharing a funny story of a 68 unit property that I suspect my brother was living in. To connect with Burt call 310-922-1175 or visit his website at burtmentor.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)

  6. 5d ago

    Investing Diligence with Chad Ackerman

    Chad was one of the founding members of Left Field Investors and today coaches passive investors on how to make thorough evaluations of investment options. Not a substitute for a financial advisor. But rather an experienced passive investor in real estate who has developed process and systems around how to evaluation investment options during the each phase of the due diligence process. To connect with Chad visit https://chadackermanrealestate.com/. He also has a starter kit that could be helpful at https://chadackermanrealestate.com/start ------------- **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)

  7. 6d ago

    The 21st Century ROAD To Housing Act

    The term ROAD means Renewing Opportunity in the American Dream. The act Act became law on July 11 without the President’s signature. It passed with enough votes in the Congress and the Senate that there was no possibility of presidential Veto. It is a sprawling piece of legislation containing dozens of provisions covering housing supply, financing, manufactured housing, building codes, environmental review, affordable housing programs and institutional ownership of single-family homes. The Act restricts large institutional investors from purchasing additional single-family homes once they control at least 350 homes, subject to several exceptions. Existing portfolios are not required to be sold, and exceptions remain for newly constructed housing, certain build-to-rent communities, senior housing and other qualifying transactions. This could reduce competition for scattered-site acquisitions from the largest operators. But it may also redirect institutional capital toward purpose-built rental communities, multifamily apartments and financing partnerships with smaller developers. -------------- **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)

  8. Jul 16

    Global Shipping Is At Risk

    The Strait of Hormuz is capturing headlines again as conflict between the United States and Iran escalates. Some commercial operators are reportedly refusing passage even with military escorts because crews and shipowners do not believe the risk can be managed. But viewing Hormuz as an isolated crisis misses the larger trend. Commercial shipping is increasingly becoming a weapon of war, economic coercion, and political leverage across multiple regions. We have seen attacks and interference in the Gulf of Aden, the Black Sea, the Sea of Azov, the Baltic Sea, and around strategic infrastructure in Central America. Ships are large, slow, visible, expensive targets. A relatively inexpensive drone or guided munition can damage a vessel worth tens of millions of dollars, disrupt its cargo, increase insurance costs, and discourage every other shipowner from entering the area. The ship does not need to sink for the attack to succeed. -------------- **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)

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About

Welcome to The Real Estate Espresso Podcast, your morning shot of what's new in the world of real estate investing. Join investor, syndicator, developer, and author Victor J. Menasce as he shares his daily real estate investment outlook. Our weekday episodes deliver 5 minutes of high-energy, high-impact content to fuel your success. Plus, don't miss our weekend editions featuring exclusive interviews with renowned guests such as Robert Kiyosaki, Robert Helms, Peter Schiff, and more.

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