The Real Estate Espresso Podcast

On today’s show we are taking a look at a looming problem that threatens the functioning of the entire legal system in North America. Justice delayed is justice denied. The rule of law depends upon having a functioning legal system. In the absence of a working legal system, criminals will increasingly take their chances that the statute of limitations will prevail and they will get away with offences that in a different environment would result in litigation, judgements, and possibly even criminal convictions. There is a shortage of judges across both the US and Canada. The net result is that civil and criminal cases are going into a queue that is measured in years. ---------- Host: Victor Menasce email: podcast@victorjm.com

This question comes from Elizabeth who asks: I’m looking at a property which borders on an environmentally protected wetland area. Of the acreage, about 80% is outside the environmentally protected zone. So I should be able to develop on the part that is not environmentally protected. What should I look out for when considering this property? ------------ Host: Victor Menasce email: podcast@victorjm.com

On today’s show we are taking a look at the weeks ahead. We are expecting a number of announcements including the upcoming interest rate policy when the federal reserve meets near the end of July. The latest numbers coming out of Washington suggest a robust economy. At least that is the official narrative. Yet there are so many other metrics pointing in the opposite direction. ------------ Host: Victor Menasce

Vikas Gupta is based in Pasadena California with a software startup called Azibo. Azibo is a software company that specializes in serving smaller independent landlords with a property management system that is highly integrated, but still easy for smaller landlords to use. To learn more or to connect, visit azibo.com ------------ Host: Victor Menasce email: podcast@victorjm.com

Calvin Roberts might be the youngest insurance brokerage principal I've ever met. But he is clearly one of the most knowledgeable. On today's show we are talking about the massive increases in insurance premiums and explaining the underlying factors. To learn more or to connect with Calvin, visit falconinsagency.com. ------------- Host: Victor Menasce email: podcast@victorjm.com

On today’s show we are talking about the architecture of the future. We are all accustomed to seeing the usual rectangular buildings with the vertical walls and 90 degree angles everywhere. Architects made them more interesting by articulating the facade with indentations and projections. Changing the materials on the exterior creates a sense of form, superimposed on what is still a rectangle.  I know what you’re thinking, any other shape is simply too costly to create. Standard materials can’t be used and it requires a tremendous amount of customization to create any other shape. All of this translates into extraordinary cost. With all of the emphasis on affordability, who needs a building shaped like a dolphin anyway? Ok, it doesn’t need to be a dolphin, but who needs a curved wall anyway? It’s going to make decorating the interior space difficult. Artwork won’t hang nicely on the walls. Our entire world is centred around flat surfaces. Even if it were practical to create irregular shapes in a building, would you really want that anyway?  What about those really tall narrow buildings that rise hundreds of feet into the air? When the buildings are that thin, how do they stay standing? Why don’t they fail in a wind storm?  On today’s show we’re going to answer these questions and more, with the answer coming from the world of crustaceans.  ------------ Host: Victor Menasce email: podcast@victorjm.com

Today is a milestone for the Real Estate Espresso Podcast. This is the 2000th episode of the podcast. It seems like yesterday that the podcast was a concept, an idea. I had been experimenting with various ways of communicating and had been a guest on numerous shows. Publishing a show for 2,000 days in a row has definitely been a project.  In fact, of the 2M podcasts out there, 90% quit after 3 episodes, and another 90% of the remainder quit by episode 20. So to help celebrate 2,000 episodes, we’re going to be holding a little contest. A few lucky winners will be getting some podcast SWAG. We’re talking coffee mugs. I realize that some of you like a tall coffee and not just an espresso. So in about the time it takes you drink your morning coffee, you can share those few minutes with the real estate espresso podcast. To enter the content, send an email to podcast@victorjm.com and put the number 2,000 in the subject line. The drawing will be held on July 14. To all of those who enter, best of luck and thank you for celebrating 2,000 episodes with me.  On today’s show, I’m going to take you through a little bit of a thought experiment. We know what has happened as a result of the rapid rise in interest rates and how it has affected the housing market. We know that supply of homes for sale has declined as a result of the so-called lock in effect.  If interest rates fall, will we see a deluge of houses come onto the market for sale?  -------------- Host: Victor Menasce email: podcast@victorjm.com

Today’s question comes from Matt who asks: I have a property that we are considering buying that is in a hot neighborhood. The rents in the area are $2,500 a month for a 2BR apartment which is strong for the city as a whole. The city is a rustbelt city that has seen a lot of growth  The subject property was an industrial site that likely has contamination. The phase 1 indicates there is lead in the ground and there are likely petroleum products in the ground as well.  The seller is pushing for a closing of 30 days after completion of the environmental phase 2. The existing building is about 19,000 SF of structure above ground and we could ultimately build about 27 apartments in the existing structure. The land is $500,000 and it would likely require about $500,000 in environmental remediation costs. It’s likely that the site would qualify for 100% of the site remediation to be government funded.  What do you think about this deal? -------- Host: Victor Menasce email: podcast@victorjm.com

On today show, we are looking at the market for construction workers. With the rising interest rates, there has been a significant reduction in the number of construction jobs underway compared with the same period Last year. It’s no secret that there is a shortage of workers in construction jobs.  According to a report in yesterday’s Wall Street Journal, many builders in Florida are experiencing an acute shortage of workers.  ------------- Host: Victor Menasce email: podcast@victorjm.com

On this podcast we keep trying to make sense out of this economy. It is confusing and there are numerous contradictory signals.  On today’s show we are taking a look at why there appears to be a labor shortage. We keep hearing about the so-called labor shortage and politicians and the Fed keep pointing to the historically low unemployment rate.  So where did all the people go? There was not a labor shortage before the pandemic, although we did have historically low unemployment even back in 2019.  -------- Host: Victor Menasce email: podcast@victorjm.com