The Real Estate Espresso Podcast

Welcome to The Real Estate Espresso Podcast, your morning shot of what's new in the world of real estate investing. Join investor, syndicator, developer, and author Victor J. Menasce as he shares his daily real estate investment outlook. Our weekday episodes deliver 5 minutes of high-energy, high-impact content to fuel your success. Plus, don't miss our weekend editions featuring exclusive interviews with renowned guests such as Robert Kiyosaki, Robert Helms, Peter Schiff, and more.

The Real Estate Espresso Podcast is a business podcast hosted by Unknown Host, with 1,000 episodes on record and a Required Pod Score of 92. PitchCentric scores this show on Booking Probability, Listen Score, and live audience signals refreshed every 24 hours.

Unknown Host hosts The Real Estate Espresso Podcast, a business show with 1,000 episodes published.

Our AI reads these to draft pitches. Use them as grounding for a pitch that cites a real guest and a specific topic.

• 

  Episode #233

  Underwriting A Matter of Perspective

  Aug 21, 20266 minS9

  On today's show, we're talking about a situation that confuses a lot of investors. How can the same property have two different underwriting models, and how can both of them be correct? The answer comes down to perspective. A lender is underwriting the property for one purpose. An investor is underwriting the property for a different purpose. Those two objectives overlap, but they are not identical. Let's use a real-world example. There are a number of state and local programs around the country that offer some form of property tax abatement for qualifying projects. Perhaps the property provides affordable housing, senior housing, or satisfies some other public policy objective. The economics can be very meaningful. Suppose the property would normally pay one million dollars a year in property taxes. Under the applicable program, the actual tax expense might be a $700,000 difference in net operating income. But there is a wrinkle. The tax abatement has to be approved each year. There is a small but non-zero risk that the property might not qualify one year. Should you assume the tax abatement in your underwriting? ------------- **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 )

  ListenShow Notes
• 

  Episode #232

  Is The Software Business Model Dead?

  Aug 20, 20266 minS9

  Today we’re going to venture outside real estate for a few minutes and talk about software. But this is really a discussion about business economics, and those principles apply to every industry. For the past twenty years, one of the most attractive business models in technology has been Software as a Service, or SaaS. Instead of buying software once, customers pay every month or every year. From the software company’s perspective, this is wonderful. Revenue becomes recurring and predictable. Investors love recurring revenue, and software companies have been valued accordingly. But artificial intelligence may be starting to challenge the fundamental economics of that model. We recently conducted an audit of the software subscriptions inside our own business. Like many companies, we had accumulated numerous applications over the years. Accounting software, project management software, communication tools, document management, CRM systems, design tools, and numerous specialized applications. What became obvious was that we were paying for a tremendous amount of capability that we simply weren’t using. In several cases we were subscribing to the highest tier because, at some point, somebody believed we needed one particular feature. When we looked carefully at actual usage, we discovered that the basic version accomplished virtually everything we needed. We downgraded several subscriptions and, in some cases, reduced the cost by more than fifty percent. Did productivity decline? Not at all. Suppose your company uses only ten percent of the functionality in a large project management platform. What if instead you built exactly the workflow your organization needs? Instead of changing your business process to accommodate somebody else’s software, the software accommodates your business process. There is something very attractive about that. But before declaring the SaaS industry dead, we need to distinguish between development cost and lifecycle cost. ---------- **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 )

  ListenShow Notes
• 

  Episode #231

  Will Treasury Intervention Make A Difference?

  Aug 19, 20266 minS9

  On August 20, I'm going to be hosting a webinar on how to use AI to validate the quotes you receive from contractors and subcontractors. To register for the webinar click HERE . Even if you can't attend live, we will send you the recording. -------------- Today we're talking about an announcement from the U.S. Treasury Department that has generated a surprising amount of noise in the financial markets. The two words getting attention are Treasury buybacks. Treasury announced today, August 19, that beginning September 9 it will increase, by at least double, the size of its liquidity support buyback operations for longer-dated Treasury securities. Specifically, the maximum size for operations in the 10-to-20-year and 20-to-30-year sectors will increase from $2 billion to at least $4 billion per operation. It might be coincidence, but this happened on the same day that US debt topped $40T. The country’s “total public debt outstanding” officially hit $40.047 trillion on Tuesday, the Treasury Department reported Wednesday, ticking up from $39.987 trillion a day earlier. Immediately, people started describing this as quantitative easing, QE light, yield curve control, and even a new version of Operation Twist. I think we need to separate the mechanics from the headlines. A Treasury buyback is not the same thing as Federal Reserve quantitative easing. The Treasury is already issuing enormous quantities of debt. In a buyback operation, Treasury can issue securities in one part of the market and use some of those proceeds to repurchase securities that are already outstanding. The important distinction is which securities they are buying. The liquidity support program primarily targets what are called off-the-run Treasury securities. When Treasury issues a new 10-year note, for example, that newly issued security becomes the on-the-run Treasury. It tends to trade very actively. The older 10-year securities that were issued previously become off-the-run securities. They're still Treasury obligations. Their credit quality hasn't changed. But they don't necessarily trade with the same liquidity. That becomes important during periods of market stress. If a large investor needs to sell a significant quantity of an older Treasury security, there may not be as deep a pool of buyers as there is for the newest issue. -------------- **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 )

  ListenShow Notes
• 

  Episode #230

  AMA - Can Office Conversions Deliver Class B?

  Aug 18, 20269 minS9

  Today's episode is another AMA, or Ask Me Anything. Today's question comes from Charles, who asks: "What is your opinion of office-to-residential conversions? Namely, are they attractive enough to become a Class B property? I see repurposed motels as apartments, which I personally do not like, but I suppose there is a market for those properties." ------------ **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 )

  ListenShow Notes
• 

  Episode #229

  AI In Construction

  Aug 17, 20266 minS9

  Later this week we're hosting a deep dive webinar on AI In Construction. To register, click HERE . Since the beginning, construction drawings have been one of the hardest documents for artificial intelligence to understand. That makes sense when you think about it. A construction drawing is not simply a page of text. It contains symbols, dimensions, schedules, notes, details and references to information that might appear twenty pages later. A symbol on the floor plan may tell you almost nothing until you find the corresponding detail or section. But something has changed dramatically over the past couple of months. The newest generation of reasoning models has become substantially better at reading and cross-referencing construction drawings. Testing across structural, civil, mechanical and electrical drawings is now showing surprisingly strong performance, particularly when the task involves extracting information from schedules, identifying specific elements and following references between sheets. That matters even if you're not a contractor. Suppose you're renovating an apartment building, replacing a roof, building out an office or doing a major addition to your house. The contractor hands you an estimate or a quote. Is it a fair price? How do you know? This is where AI is becoming genuinely useful. Register for the webinar. We have nothing to sell, just sharing how we are using AI in estimating. --------------- **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 )

  ListenShow Notes

Recent guests on The Real Estate Espresso Podcast. Study who booked and why before you pitch.

Based on semantic analysis of episode topics and host coverage, this show is a strong guest fit for executives in:

Industry fit is computed by PitchCentric using vector embeddings of the show's episode catalog.