The Real Estate Espresso Podcast

On today's show we are examining the best way to ask a question for maximum benefit. This is a real life first hand example.--------------**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 speculating on the impact of the shrinking Federal Government. What will it mean? The superficial headlines are overlooking the real changes that I believe are coming. Do your financial models take any of this into account?----------------**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)  

Waikiki is NYC based where he specializes in helping family offices with making institutional quality investments in projects around the US. On today's show we are talking about how investor appetites and investor mandates have changed in the past 24 months. What is in demand today?To connect with Waikiki, visithttps://creconstructionpartners.com/ or reach out to him on LinkedIn.----------------**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)  

John Caldwell is a digital marketing expert who practices his craft from multiple locations around the world. On today's show we are talking about how marketing has changed in the new era of artificial intelligence.Our firm is working directly with Jon as a strategist with our own in-house implementation team (full disclosure).To connect with Jon and to learn more, visithttps://www.3victor.io/-------------**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 buying the dip. This is when the market is inefficient and people over-react to a piece of news. These events are clear when they happen, and yet they still do occur regardless.These market over-reactions happen with striking regularity. We see it also in foreign currency exchange. The Canadian dollar fell to a 22 year low only a few weeks ago based on the assumption that tariffs imposed by the White House would crush the Canadian economy. The Canadian dollar has recovered about 2 cents in the last few days, but is still 4 cents below where it was in the fall. We know that there is opportunity in many real estate markets. But if you can find a 4%, or a 6% discount on the buy side by speculating on the added leverage of the foreign exchange, this can be an opportunity to make an outsized return on your investment.We have Canadian investors who invest in our US projects and we have US investors who invest in our Canadian projects. Foreign exchange doesn’t really enter into the thesis for any of these investments. To be clear, there is a difference between investing and speculating. When you make an investment in a new apartment building, you’re probably basing your investment on the fundamentals of the local submarket, the product being delivered to meet a market need, and the strength of the team operating the project. Foreign exchange in the future is unknown. It could result in a foreign exchange gain or a foreign exchange loss 5 or 7 years down the road when you might be planning to exit the investment. But if you have the dollar drop 5% in a very short time period, and the investment thesis was making sense, the risk just tipped in favor of the investor. The investment is now 5% cheaper, all other things being equal when you take the change in exchange rate into account. ----------------**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 water sustainability. This is one of those topics that often gets misunderstood. In particular, it’s a source of a lot of misinformation.  We’re developing a project in Colorado Springs and at the city council meeting, several members of the public stood up in opposition to the project and were using the argument that somehow our project would be depriving people downstream of our project from water in the lower Arkansas River.  Cities like Colorado Springs which lives in a fairly arid location relies on water that comes from the rocky mountains. Some of the water comes from the Colorado River, and some from the Arkansas River as well as various other assets. In some cases, the city has engaged in water exchanges. These are purchases of water assets in one location and then trading those assets for use upstream.  In the city council meeting, one citizen after another spoke in opposition to the project using water as the argument.  As someone who is developing the project, it was painful to listen to people who are so misinformed and are clearly passionate about what they believe.  After the council meeting was over, I spoke with one of the citizens who had several minutes at the microphone in front of council.  I asked him if he knew about the various water utilities that exist in the area. He said that he did not. I asked him if he knew where Shriever Air Force Base got their water. He said, no.  I asked him if he knew what waste water recovery was all about. He said no.  This is where water beliefs are encumbered with the history of abuse of fresh water. Back in the day when there was seemingly endless water, there was no thought to conservation of a scarce resource. It only became an issue when the shortages appeared.  On today’s show we’re going to talk about the cost of creating pure drinking water out of waste water. It sounds gross, and it sounds like it should not work. But the same technology that is used to generate drinking water from ocean salt water can be used in a waste water treatment plant. 

On today’s show we are taking a look at the near-shoring trend and how it has maybe been upended in the past couple of weeks since the inauguration of the new President.  On the minds of most business leaders in manufacturing are some important questions. If the global landscape has changed, where should you establish manufacturing capacity geographically?  The globalization of the past few decades has proven to be a geopolitical failure. The assumption was that if economies were sufficiently intertwined, that it would be a protracted period of world peace and collaboration.  We now have fractured geopolitical alliances. ---------------- **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 look at what might be one of the most significant counter punches in the effort to dominate the global economy.  There are many ways in which countries make foreign investments. The US having the privilege of maintaining the world reserve currency has seen much of the world’s debt denominated in US dollars. But the US has rarely been an investor in foreign companies, nor in foreign countries. This stands in stark contrast to other countries like Saudi Arabia, China, Norway, UAE, Kuwait, and dozens of other countries that have sovereign wealth funds.  The US does deliver substantial foreign aid in the form of grants. But the US is rarely an investor in foreign projects. On the other hand, China has carved out substantial foreign influence by funding foreign infrastructure projects.  Today the US announced a new sovereign wealth fund that will be designed to compete with the like of China when it comes to foreign investment.  The fact is that when $900B dollars are going to be allocated and invested over a period of time, that represents a massive opportunity for savvy investors who are paying attention to ride the coat tails of that investment.  ------------- **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 it we are examining what the implications of a full scale trade war will mean.  The White House executive order that was issued this past weekend has a structure that I find very familiar. It falls under the classic structure of an argument within a married couple. This is of the form when one spouse says to the other, “ if you loved me, you would take out the trash.” And then they spend the rest of the time arguing about the trash instead of the core issue which is that one member of the marriage is feeling unloved. Linking together two unrelated items is a very primitive but well known negotiating technique. I’m going to manipulate you into taking out the garbage by putting the relationship and whether you love me on the line.   This is precisely my assessment of the executive order.  The fact is, the tariff is not about trade. It’s about border security. President Trump’s election promise was to secure the national borders. The US can’t do it alone in any reasonable timeframe. Enlisting the cooperation of both Canada and Mexico is key to accomplishing his objective quickly.  I personally don’t believe that the result will be a protracted trade war, even though the outward appearance is precisely that. The media has and will latch onto the devastating economic impact that a protracted trade war would have on the Canadian economy. That level of publicity will bring immense pressure to the Canadian government to make the necessary changes at the border at a time when Canada’s government is completely in disarray. There is arguably nobody in charge at this moment.  -------------- **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)  

Sean Graham has two businesses. He is based in Detroit where he invests in self storage across the midwest. In addition, he runs a cost segregation practice. Today's episode brings these two worlds together with an interesting twist at the end of the episode. To connect with Sean, email him at sean@mavencostseg.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)