The Real Estate Espresso Podcast

Our book this month is definitely worthy of the book of the month criteria. It's written by a gentleman who I had the honor of meeting about a month ago. The book is called, “Why the best are the best.” By Kevin Eastman. Kevin has dedicated most of his working life to the sport of basketball. The pinnacle of his career was at the top of the coaching organization for two teams in the National Basketball Association. He was the assistant coach for the Boston Celtics when they won the NBA championship in 2008. Kevin was the assistant coach and Vice President of Operations with the Los Angeles Clippers. When I spent time with Kevin Eastman I was struck by his ability to distill big ideas into very simple and clear beacons of light that can serve as a north star for those times in life when one is pulled off course. How often lengthy explanations and excuses can be cut off with a few choice words that bring the ego back to earth. Kevin is a life-long student. This is a phrase that I hear often. I suppose there are those who truly believe that they’re being a student. But Kevin is a student every spare second of every day. He speaks of a work ethic that is the work ethic of champions. But it’s one thing to say the words. It’s quite another to truly embody those words. In Kevin’s world, success lies in simplicity, confusion lies in sophistication. At the core of success are three elements: 1)  the work that goes into it, 2) the mindset that must be turned into habits and 3) the execution discipline. It’s not about what the words will do for you. It’s about the what the words will do to you. If you’re not changed by the words, then the words have no impact. The core of the book are 25 words. That’s it, only 25 words. You could think of the book like a dictionary of a mere 25 words. But unlike the Oxford dictionary which takes a word and provides a couple of sentences to define that word, Kevin takes an entire chapter to define a word.

On today's show we're connecting the dots between what's happening at the Federal Reserve and real estate prices. Prepare for some new headwinds in the market. 

Real Estate markets across Canada have slowed dramatically in recent weeks. This is due to a regulatory change. Markets around the world can learn by watching what is happening in Canada. -------------------------------------- Host: Victor Menasce Email: podcast@victorjm.com

On today’s show we are talking about confronting a difficult decision and an iconic building that nearly failed. We take it for granted, waiting for the elevator in the lobby. By the time we are walking around the perimeter of the building taking in the spectacular views, we take the structure of buildings for granted. The floor beneath your feet feels as solid on the second floor as on the fifty second floor or the 92nd floor. Sadly, the world witnessed the collapse of a 12 story building only a few days ago. 12 story buildings are commonplace. They’re a dime a dozen. How could a 12 story building fail? On today's show we are talking about an iconic building rising more than 900 feet in the air that almost failed. But they fixed the problem. 

Lisa Hylton was trained as a CPA and spent the first part of her career at PWC, one of the big accounting firms, helping institutional investor clients with accounting. Today, she's a fund manager with a focus on multi-family value add projects. Based in Los Angeles, she works with multiple operators in multiple markets. To connect or learn more, visit lisahylton.com

Jerome Myers is based in Greensboro, North Carolina. On today's show we're talking about organic growth from an epiphany. This is such a great story.  You can connect with Jerome at jeromemyers.co. 

Yesterday in the early hours of the morning, a 12 story condo building in North Miami Beach collapsed. The security video footage from the neighbouring complex shows what appears to be a spontaneous event. It will take a long time and a detailed investigation to determine the likely cause. It’s possible the true root cause may never be discovered. On today’s show I’m going to play armchair engineer and speculate on what might have contributed to the catastrophic failure of this building. It’s entirely possible that there was more than one failure. Each failure by themselves might not have been enough to cause the building to collapse. But in combination, the structure was weaken enough in key places that all it took was a catalyst. Think of a pin popping a balloon. It takes a very small amount of energy in the right place to pop a balloon. Buildings next to the ocean present special problems. The way these concrete buildings are constructed relies upon two materials working together to keep the building and all of its spans standing upright. ------------------------------------ Host: Victor Menasce Email: podcast@victorjm.com

On today’s show we’re talking about assisted living. But not just any assisted living. This is a project that I’m directly involved with. Our Grand Opening party is happening tomorrow at Sage Oak of Lake Charles. It’s located in Lake Charles, Louisiana. This 80 bed facility aims to redefine how assisted living care is delivered in the marketplace. This is culmination of about three years of work. As always, this is a team effort, none of which would be possible without the extraordinary efforts of all the core team members. --------------------- Host: Victor Menasce Email: podcast@victorjm.com

On today's show we're talking about how you would go about evaluating whether an architect is the right fit for the job.  ---------------------- Host: Victor Menasce Email: podcast@victorjm.com

Magin asks, With all of the uncertainty in the world I am fearful of the inevitable "Bail-in" from the banks. We are always told to keep "dry powder" ready for future opportunities. Is there another institution where one could safely Store "easy to deploy currency?" Magin, this is a great question. On today's show we're going to answer how you can protect yourself from the bank treating your like an unsecured creditor.  ---------------------------- Host: Victor Menasce Episode: 1225, season 4, episode 173 Email: podcast@victorjm.com