The Real Estate Espresso Podcast

On today’s show we are talking about how our consulting division advised a client which had the effect of turning a good project into a great project, while avoiding a zoning variance at the same time.  --------------- **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 question comes from Paul who writes: I often hear about working on the business versus working in the business. What does that mean to you, and can you give me some examples of what that looks like? ------------- **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 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.  ------------- **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 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. ------------ **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 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.  ------------- 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)  

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 ------------- Host: Victor Menasce email: podcast@victorjm.com

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 ------------- Host: Victor Menasce email: podcast@victorjm.com

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/ ------------ 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)

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/ -------------- 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? -------------- Host: Victor Menasce email: podcast@victorjm.com

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/ ----------- 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."