The Real Estate Espresso Podcast

On today’s show we are talking about life changing new habits. I’m going to share how I am using artificial intelligence on a daily basis. I have an AI assistant perpetually open on my phone and on my computer’s desktop.  If you are like most people, you probably  experience decision fatigue at a certain point. I know that I certainly do.  So one of the ways in which I use AI routinely today is to...

I’m astounded at the frequency with which I see absolute fantasy in proposed commercial projects. The discussion involves the development of a luxury mid-rise building in a tertiary market.  Where these smaller tertiary markets have an advantage, is that they have less infrastructure at the municipal level. They won’t have a multi-billion dollar subway system to build and maintain. They don’t have...

On today’s show we are looking at an event in financial markets that could represent a tipping point. These events have occurred with regularity over the years. Think of the Greek Sovereign debt crisis in 2012 that threatened to topple the entire European banking system. Think of Lehman Brothers in 2008. There was the bank failures in the US in 2023. These events often expose the counter party ris...

On Thursday evening, my development company will be hosting a webinar with an update on the second year of our storage fund. We have invested in 3 assets so far and have more in the pipeline. To register for the webinar, visit: https://event.webinarjam.com/register/36/qq2o7h6p ---------------- Today's question come from Ramon who asks: "Wondering your perspective on Warren Buffett’s recen...

On today’s show we are talking about the methods that major importers are using to delay or outright eliminate the impact of tariffs. Let me be clear, I’m not a global transportation expert, nor am I here to offer any legal advice on what you can and can’t do when it comes to importing good to the US or any other country for that matter. But I can point you in the direction of areas in which you m...

Jason Brick is based in Portland Oregon where he is a nation wide expert on safety and security. On today's show we are talking about the various approaches to security when looking at properties. He is also the author of several books on safety and security which can be found on Amazon or on his website. To connect with Jason visit https://www.safestfamilyontheblock.org/ ----------- **Real Es...

On today's show George and I are talking about how to delegate authority within a negotiation. We're drawing on George's history within the Trump Organization and discussing where and when George had the autonomy to negotiate without checking back with the boss. --------------- **Real Estate Espresso Podcast:**  Spotify: [The Real Estate Espresso Podcast]( https://open.spotify.com/show...

On today’s show we are talking about whether it makes sense to include solar energy as a component of your projects. Solar power systems used to rely very heavily on subsidies because there was no way you could rationalize them on a financial basis without it. These days the cost of these systems have reduced to the point where they are much easier to justify.  ------------ **Real Estate Espresso...

On the first day of each month we review the book of the month (BOM). Our book this month is "Buy Then Build: How Acquisition Entrepreneurs Outsmart the Startup Game” The traditional narrative of entrepreneurship often conjures images of two guys tinkering over a prototype in a garage that has been converted into a lab. Think of sleepless nights, ramen noodle diets, and the daunting task of b...

On today’s show we are taking another look at hyper local versus macro. Today we’re comparing Boston, Charlotte and Phoenix, three cities at almost polar opposite ends of the country.  But first, at my company Y Street Capital, we are building. A lot of investors got into trouble over the past few years because of irrational exuberance and a tendency to look only at the upside and ignore the downs...

Yesterday Canada held its Federal election. While Canada has a number of political parties, it was really a 2 party race. Mark Carney running for prime minister is head of the liberal party and Pierre Poilievre is head of the conservative party.  When Justin Trudeau stepped aside a few months ago, the liberal party elected a new leader in Mark Carney. Mark Carney served as governor of the bank of...

On today’s show we are looking at the residential homes for sale inventory across several markets in Florida. We have been experiencing the so-called lock in effect with many owners holding onto very favourable loans at historically low interest rates.  Even if someone needs to move, they will often rent out their primary residence and then rent a home instead of buying rather than sell and be for...

Cris Zimmerman is currently based in Spain, but his family is from Frankfurt where he own hundreds of assets including apartments, hotels, and various other commercial properties. On today's show we are talking about the unique elements of investing in Germany. Cris also hosts events for high net worth families across Europe and North America. To connect with Cris, visit medicilegacy.com -----...

Layla Kunimoto is based in Seattle Washington where she invests on a full-time basis. She also is the publisher of the weekly newsletter AccreditedInsight.com . On Monday, April 28 at noon CDT, Layla will be on LinkedIn Live with Robby Butler from the Y Street Capital team talking about the use of AI for underwriting and due diligence. To attend that live event, here is the link for the live strea...

On today’s show we are taking a look at whether it makes sense to copying a proven formula or blaze a trail and deliver a new product type in a geographic area. But first, if you’ve been wondering where to place your capital that will be safe in today’s turbulent environment, you may want to consider participating in a high quality project managed by industry experts. At Y Street Capital, we have...

On today’s show we are talking about how to model a project. I often hear people advocating for a simple spreadsheet to perform quick calculations. There was a time when I used these simple tools to make fast decisions.  There is a trade-off in any project where speed is a component of a quality outcome.  However, as time has progressed, I’m less inclined to rely on quick math for anything. The re...

On today’s show we are talking about the movement of goods entering our country and how this might affect industrial real estate and jobs. The mainstream media have been widely reporting that shipping imports to the US are down by 64% in the first weeks of April. This is an example of how statistics can be used to sensationalize a narrative. Compared with the last week of March, it is true, shipme...

I’m sharing what I’ve learned about managing change and how it might explain what we are seeing and experiencing in our daily lives. Early on in my career as a leader in the tech industry I took a bunch of courses on leadership.  One of the course in my management training was on change management. The idea was that leaders need to become skilled at leading people through change and that change do...

On today’s show we are looking back in history for the lessons of failed conquests.  Napoleon attempted to economically cripple Great Britain by closing European ports to British goods. He believed this would destroy Britain's trade and force its surrender. Britain's powerful navy and widespread smuggling operations undermined the blockade. The system hurt the economies of France and its a...

Hubert Johnson is a tax lawyer based in Tucson Arizona. His company Guardian Tax Law specializes in all aspects of tax compliance. On today's show we are talking about how to handle property that has an IRS lien attached to it. This could be a residential property, a commercial property, and includes properties with multiple ownership. To connect with Hubert visit https://guardiantaxlaw.com/ o...

Tim Edwards is based in Chico California from where he owns a large multi-state portfolio of apartments. On today's show we are talking about the lessons of prior real estate cycles and how those lessons apply to today's environment. To connect and to learn more, visit https://multifamilyassetadvisors.com/ ------------ **Real Estate Espresso Podcast:**  Spotify: [The Real Estate Espresso P...

On today’s show we are talking about whether it’s better to be better, or better to be simple. Today’s episode is an embarrassing story that I’m going to share with you so that you can learn from our mistake.  One of the consequences of working with really smart people is that you can often get caught up in the elegance of an ideal solution.  There is something to be said for consistency. If you w...

On today’s show we are talking about how to gain additional control over the expenses in your commercial buildings. Some buildings were designed with a single electric meter and a single water meter.  This makes it difficult for a landlord to recoup the costs associated with these variable expenses. Some buildings use a RUBS method. RUBS is an acronym  which stands for Ratio Utility Billing System...

Today is another AMA episode (Ask Me Anything). Today's question comes from Emanuel who writes: "How should new investors approach development of multifamily properties when construction costs are high but demand for rentals is steady?" -------------- **Real Estate Espresso Podcast:**  Spotify: [The Real Estate Espresso Podcast]( https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?s...

On today’s show we are talking about a property that we placed an offer on, which is failing in due diligence.  Failing in due diligence is one of two ideal outcomes. Of course we would prefer if a project met all of the criteria for investment, we would buy it at a substantial discount to the market value, and we would have lots of upside potential. Anything less and we would rather pass on the o...