The Real Estate Espresso Podcast

Danna Olivo is an expert at responding to requests for proposals. We're talking about the business development function within the world's major architectural, engineering and construction firms. There is a process to responding well to requests for proposals and requests for quotation, whether in the public sector or the private sector.  To learn more reach out to Danna at marketatomy.com.

Mike Morawski has a cautionary tale and some life lessons to share. He made some fundamental mistakes at the height of the 2007 real estate mania and paid a heavy personal price for those mistakes. Listen to today's powerful conversation. To learn more, visit mycoreintentions.com and you can download a free copy of his book "Exit Plan" at mycoreintentions.com/exitplan.

On today’s show we’re talking about a shift that is taking place in the restaurant business. It would seem that converting a restaurant kitchen to a ghost kitchen would be a fairly easy transformation. It turns out that it’s not that simple. I know of several chefs that are aiming to buy a commercial kitchen in order to satisfy the growing demand for their catering businesses. We're talking about how best to create a ghost kitchen. A world of opportunity exists for the enterprising real estate investor who seizes the opportunity. ------------------ Host: Victor Menasce email: podcast@victorjm.com

On today’s show we’re going to focus on smaller resort towns. People want to visit the idyllic resort towns of Banff, Aspen, Vail, Sun Valley. The problem is that the most profitable real estate to develop is for the owner occupant, and the vacationer. Why would you build affordable housing that gets you $1.50 per square foot in rent when you can build a hotel room, or timeshare that rents for $2.00-$3.00 per square foot. A myopic developer will choose the higher value real estate every time. But the problem is, people won’t come and occupy those pricey ski chalet’s if there’s nobody to serve dinner at the nearby local brewpub, or stock the shelves in the local grocery store. Many of the service jobs in these small but affluent towns are going unfilled. ------------------------- host: Victor Menasce email: podcast@victorjm.com

Today’s question comes from Chris in Long Island. “I’m having a hard time getting offers accepted. I’m seeing so many people closing deals on social media. We keep getting outbid. What am I doing wrong?” Chris this is a great question. I can’t say that you’re doing anything wrong. The worst thing you could do is pay too much for a project simply to get the short term feeling of accomplishment that you got a deal closed. If you paid to much or bought the wrong project, that feeling of accomplishment will be terribly short lived and you will spend months or even years trying to recover from having made a poor decision. I can guarantee you that hardly anybody is posting on social media that they cancelled a contract, or that they got outbid, or that a project got delayed because of an issue with title insurance or a lender. People tend to post their successes only. You don’t see the majority of the projects that don’t see the light of day. One of the most successful investors I know looks at hundreds of deals before pulling the trigger on a handful. Even then only a small percentage of those will actually close. It’s a bit like playing the comparison game with photos in a magazine. You don’t see that the model is wearing makeup, that the photos have been modified in photoshop. That extra bit of flabby skin on the back of the arms have been slimmed down and eliminated to appear thin and toned. The problem is that when you play the comparison game, the comparison is against a magazine cover that is not real. ------------------------ Host: Victor Menasce Email: podcast@victorjm.com

On today's show we're talking about long term investments in downstream energy projects and the impact on local real estate.  -------------------------- Host: Victor Menasce Email: podcast@vicotrjm.com

On today’s show we’re talking about forecasting your business if you're investing vacation rentals.  ------------------------ Host: Victor Menasce Email: podcast@victorjm.com

Frank Furman is the co-founder of padsplit, dedicated to workforce co-living.  It's a model that puts together properties and working people looking for a more affordable housing option. Based in Atlanta Georgia, padsplit is active in multiple markets across the US. Residents pay a weekly rate by the bedroom with a one month minimum, with full access to common amenities.   On today's show we talk about the challenges of managing this non-traditional model from both an investor and a resident perspective.  To learn more, visit padsplit.com

Ramsey Blankenship is investing in syndications while on active duty in the US military. Currently based in San Diego, or wherever in the world duty calls. On today's show we're talking about scaling your business and creating revenue streams to buy back time.  You can connect with Ramsey at realfocus.org. 

On today’s show we’re talking about delays of all kinds. I’ve been in several conversations over the past few weeks in which lenders have notified us of delays in processing paperwork. The same is true of zoning applications before the city. Even delivery of certain construction services are being impacted. What’s the reason? Labor shortages. ----------------- Host: Victor Menasce Email: podcast@victorjm.com