Podcasts about residential

land use in which housing predominates, as opposed to industrial and commercial areas

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Latest podcast episodes about residential

Passive Wealth Principles
Pasha Esfandiary | From Poker to Real Estate

Passive Wealth Principles

Play Episode Listen Later Nov 15, 2022 65:47


Pasha Esfandiary, co-founder and CEO of Evoke Capital, started his investing career in real estate in 2011 by flipping homes found at auctions. Since then, he has been involved in over $250 million in transactions across multiple asset types. Residential homes, boutique motels, large multifamily properties, and housing programs in vulnerable areas are just some of them.He founded Evoke Capital in early 2021 with the goal of helping others achieve financial freedom through real estate investing.But what is so unique, interesting and inspirational about Pasha is his amazing background story. Coming from an immigrant family from Iran, Pasha learned some really important lessons from his challenging childhood. Then, at 20 years old he discovered poker and became a professional player, another experience he learned a lot from.In today's episode of the Passive Wealth Principles podcast, Jake Harris will have an insightful conversation with Pasha about his interesting journey from being a professional poker player to becoming a successful real estate investor.Pasha will talk about emotional intelligence and overcoming adversity in his childhood and will also discuss the power of being responsible for everything in your life.You will find out how Pasha's health journey started and where it is today and why he thinks it is important to live your life as if you're going to live another 100 years.You will learn how Pasha got into the real estate space and what were some of the most important lessons he learned from poker that are helping him today.Pasha will also talk about the difference between the poker world and the real estate world, his journey from development to multifamily and so much more.Listen now and enjoy!What You'll Learn in this Show: About Pasha's background and how he became a poker payerThe importance of living your life as if you're going to live another 100 yearsHow Pasha got into the real estate spaceThe power of making the decision to be happySome lessons Pasha learned from poker that are helping him in real estate investingPasha's secret formula to success in all areas of lifeAnd so much more...Resources:Catchknives.com Evokecapital.net Pasha's LinkedInPasha's FacebookBooks:Die With Zero: Getting All You Can from Your Money and Your Life The Price of Tomorrow: Why Deflation Is the Key to an Abundant FutureThink and Grow Rich

RNZ: Morning Report
Missile strikes hit across Ukraine

RNZ: Morning Report

Play Episode Listen Later Nov 15, 2022 3:14


Missile strikes have hit cities across Ukraine just hours after a declaration strongly condemning Russia's actions was discussed at the G20 world leaders meeting in Bali.  At least one person has been killed and energy infrastructure and buildings have been targeted.  Residential buildings in Kyiv have also been hit and half the city is without power as a result of emergency shutdowns.  BBC correspondent James Waterhouse spoke to Māni Dunlop from Kyiv.   

Growing Your Wealth with Brian Evans
Residential or Second Home Sale Gains

Growing Your Wealth with Brian Evans

Play Episode Listen Later Nov 14, 2022 46:22


In this episode Brian discusses the gains made on a residential or second home, the importance of a registered investment advisor and a CPA working together, income distribution strategies for tax bracket purposes, and Roth conversions.

Media Monarchy
#MorningMonarchy: November 9, 2022

Media Monarchy

Play Episode Listen Later Nov 9, 2022 70:32


Residential users, fishless fish and health polls + this day in history w/Max Cleland and our song of the day by Eric Clapton on your #MorningMonarchy for November 9, 2022.

The CleanTechies Podcast
#66 - Decarbonizing Residential Energy Usage & Saving Homeowners Money with Greg from Elevation

The CleanTechies Podcast

Play Episode Listen Later Nov 8, 2022 41:44


Hello everyone and welcome back to CleanTechies the Podcast. This is episode 66.If you are a climate tech founder with specific questions you'd like us to ask -- OR -- looking for capital and strategic partner introductions, please reach out to me via the Slack Channel or LinkedIn and we are glad to help in any way we can.  Today we are joined by Greg Fasullo from Elevation.  They are helping holistically transform residential energy usage. They do 3 things primarily. Help  visualize energy usage for homeowners in a very easy wayInstall solar to help reduce environmental impacts and save moneyHelp utilities manage demand response programsWe talk in detail about all these things along with some other things including...how their data tracking can offer feedback to appliance manufacturers how an energy-efficient home affects real estate valueshow his time at Berkeley shaped him virtual power plantsWe hope you enjoy today's episode - please reach out with any specific questions or discussion points. If you're interested in being a show sponsor you can reach me at silasmahner@gmail.comElevation Website: https://www.poweredbyelevation.com/Connect with Greg: https://www.linkedin.com/in/gregfasullo/Check out our Sponsor, NextWave Partners: https://www.next-wavepartners.com/Join the Slack Channel:  https://cleantechies.slack.com/join/shared_invite/zt-pd2drz6d-N~9nURU5JlyMXv2ZiO5bAQ#/shared-invite/emailFollow CleanTechies on LinkedIn: https://www.linkedin.com/company/clean-techies/ HMU on Twitter: @silasmahner__________We are proud to continue working with NextWave as our official show sponsor for this podcast. NextWave and all of its staff are highly motivated to advance the ClimateTech revolution and are constantly innovating ways that they can help affect that transition. From experts in the talent space to ESG experts, NextWave is taking on Climate and Social responsibility head-on and helping companies build great cultures that not only make the world a better place but also increase workplace satisfaction. Reach out to NextWave Partners today to learn more about how we might partner with you today. https://www.next-wavepartners.com/ / info@next-wavepartners.comSupport the show

Relentless Positivity Podcast
The Fighter Pilot Mindset with Dominic "Slice" Teich

Relentless Positivity Podcast

Play Episode Listen Later Nov 8, 2022 38:16


My guest in this episode is a Fighter Pilot, Civilian & Military Instructor Pilot, Multiple Business Owner, Amazon #1 best selling Author, Entrepreneur, husband, and father to 4 kids. Among other things you will learn how he got his nickname "Slice", how to develop a fighter pilot mindset, whether or not he does the Iceman teeth click move, and about his latest book Single Seat Wisdom Volume 2 (available on November 11, 2022). And be sure to keep up with all the cool resources and events at Single Seat Mindset: https://www.singleseatmindset.com/ Please support my sponsors! I know them all personally and can vouch for their integrity and quality. -Apparel Lab for all your shirts, hats, mugs hoodies, or WHATEVER you want to put your logo or ideas on! Go check out their website at https://apparellab.ink/ -For website design, graphic design, internet marketing, and more check out McWilliams Marketing at http://www.McWilliamsmarketing.com -Use Patnaik Realty for ANY real estate needs you have. I mean anything! Residential, commercial, property management, investments, acquisitions. He does it all. Call Teek at 256-694-0117 or e-mail him at Teek@PatnaikCo.com -Get your child caught up on their school math with Mathnasium of Madison. Their website is http://www.mathnasium.com/madisonal -Go check out my Amazon Best Selling Book "Relentless Positivity"- https://cutt.ly/Nj7jqNN --- Send in a voice message: https://anchor.fm/relentlesspositivity/message

Best Real Estate Investing Advice Ever
JF2986: How to Pivot to Non-Residential CRE in a Recession ft. Ash Patel

Best Real Estate Investing Advice Ever

Play Episode Listen Later Nov 7, 2022 69:42


Inflation is at an all-time high and we may be on the brink of a syndication bubble. Deciding where to invest your money is crucial in times like these. In this episode, Best Ever Show host Ash Patel discusses how to start investing in non-residential CRE to increase your returns.   What you'll learn: Which deals to look for and how to find them How to underwrite your deals like a pro How to re-tool yourself to look at new deals that will earn your more How to find deals from $200K–$7M Join the newsletter for the expert tips & investing content.   Sign up to be a guest on the show. FREE eBook: The Ultimate Guide to Multifamily Deals & Investing Register for this year's Best Ever Conference in Salt Lake City Stay in touch with us! www.bestevercre.com YouTube Facebook LinkedIn Instagram Click here to know more about our sponsors: PassiveInvesting.com | DLP Capital |Reliant

Small Business Celebration
Episode #203, Nik Palla, Technical Spray Services (Choosing Between Commerical Vs Residential)

Small Business Celebration

Play Episode Listen Later Nov 6, 2022 23:52


Nik Palla, owner of Technical Spray Services, guides us on planning for training, how to not get overextended, choosing between commercial vs residential, and...something that solar and oil both need? 00:00 Introduction 00:49 Venturing Out To A Business That Impact Tens-Of-Thousands Of People 07:18 Remembering Not To Forget When It Comes To Training 14:09 Overextension Prevention 21:30 Final Thoughts: Battling Shiny Object Syndrome 23:07 Credits #smallbusiness #smallbusinessowner #smallbusinesstips #smallbusinessidea #smallbusinessideas #smallbusinesstips #smallbusinesscelebration #smallbusinesscelebration #marcomgroup #homerunentertainment #techicalsprayservices #nikpalla @smallbusinesscelebration @michaeliroberts @technicalsprayservicess @nikpalla Reach out to us at: https://smallbusinesscelebration.com Reach out to our guest at: https://tssweedcontrol.com

Springfield's Talk 104.1 On-Demand
Nick Reed PODCAST 11.02.22 - Retro Metro Announcement, Galloway Issue, and MORE.

Springfield's Talk 104.1 On-Demand

Play Episode Listen Later Nov 2, 2022 34:14


Hour 2 -  Good Wednesday morning! Here's what Nick Reed covers this hour: Tiny with Retro Metro joins us this morning. Retro Metro is our new Lunch Bunch AND Happy Hour location! North Korea fired more than 20 missiles on Wednesday in the direction of South Korea. In November, voters will see 'Question One' on the ballot. Question One is worded, "Shall the City of Springfield amend the Springfield Land Development Code, Section 36-306, 'Official zoning map and rules for interpretation,' by rezoning 4.2 acres of property, generally located at 3503, 3521, 3527, and 3535 South Lone Pine Avenue from R-SF, Single-family Residential, GR, General Retail, and LB, Limited Business District to Planned Development No. 374; and adopt an updated Official Zoning Map?" Mitch explains what a 'yes' vote would mean, and why he wants listeners to vote 'yes' on November 8th.

Sean White's Solar and Energy Storage Podcast
2021 International Residential Code (IRC) and Energy Storage Systems (ESS) with Bill Brooks (BB)

Sean White's Solar and Energy Storage Podcast

Play Episode Listen Later Nov 2, 2022 27:44


2021 IRC requirements for ESS units to be less than 20kWh, 3-foot separation between ESS units, exceptions due to large-scale fire testing (UL 9540A), distance of ESS from garage window vs. window of living space, SolSmart.org PV, Future SolSmart ESS material Bill is developing, 2024 IRC Proposals, lithium-ion not good on the outside of a house in cold places and NFPA 855 Standard for ESS.

Relentless Positivity Podcast
Kate Heartsong The Confidence Coach

Relentless Positivity Podcast

Play Episode Listen Later Nov 1, 2022 34:20


My guest in this episode is Kate Heartsong and she known as The Confidence Coach. Confidence is just one of the things she is going to help us with today. She is an author, coach, speaker, and teacher who is passionate about empowering people to realize their brilliance and greatness and help ignite their potential. Make sure you experience Kate's guided meditation, guaranteed to make your shoulders get out of your ears! Kate has a special offer for you since you are such an awesome person. You can get a half-hour complimentary coach session for either confidence or life coaching. https://www.joyfulradiance.com https://www.facebook.com/kateheartsongjoyfulradiance/ https://www.instagram.com/kate_heartsong_confidencecoach/ Please support my sponsors! I know them all personally and can vouch for their integrity and quality. -Apparel Lab for all your shirts, hats, mugs hoodies, or WHATEVER you want to put your logo or ideas on! Go check out their website at https://apparellab.ink/ -For website design, graphic design, internet marketing, and more check out McWilliams Marketing at http://www.McWilliamsmarketing.com -Use Patnaik Realty for ANY real estate needs you have. I mean anything! Residential, commercial, property management, investments, acquisitions. He does it all. Call Teek at 256-694-0117 or e-mail him at Teek@PatnaikCo.com -Get your child caught up on their school math with Mathnasium of Madison. Their website is http://www.mathnasium.com/madisonal -Go check out my Amazon Best Selling Book "Relentless Positivity"- https://cutt.ly/Nj7jqNN --- Send in a voice message: https://anchor.fm/relentlesspositivity/message

Appraiser Talk
Episode 78: "I am preparing to take the National Exam to become a Certified Residential appraiser. How should I study?"

Appraiser Talk

Play Episode Listen Later Oct 31, 2022 3:55


This week on Appraiser Talk, Lisa and Amy welcome their colleague JoEllen Alberts to the show to discuss the National Exam.

The Remote Real Estate Investor
Why you might want to have a Public Adjustor on your team

The Remote Real Estate Investor

Play Episode Listen Later Oct 29, 2022 26:34


In this episode, we welcome Public Adjustor, Andy Gurczak to speak about the role of PAs, and how you can make the most out of the undesirable experience of haggling with your insurance provider -- ensuring the highest possible settlement under the terms and conditions of the policy.  Andy Gurczak started in construction as a laborer and got his in as a public adjustor through a contractor he worked for.  Quickly climbing the ladder, he helped grow the business by attaining new clients and further building relationships with existing clients. Andy started his own company, AllCity Adjusting, where he and his team process over 1000 claims per year. Andy's Contact Info: https://www.allcityadjusting.com/ c: 708 655 4186 --- Transcript Before we jump into the episode, here's a quick disclaimer about our content. The Remote Real Estate Investor podcast is for informational purposes only, and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals.   Michael: What's going on everyone? Welcome to another episode of The Remote Real Estate Investor. I'm Michael Albaum and today with me I have Andy Gurczak with All City Public Adjusting. And he's gonna be talking to us today about what a public adjuster is, and why anyone who owns property should consider using one if they have an insurance claim. So let's get into it.   Andy, what's going on, man, thanks so much for taking the time to hang out with me today. I really appreciate you coming on.   Andy: Mike, thank you so much for having me on. It's a pleasure. It's always it's fun to do these. So I'm excited.   Michael: No no. It's truly my pleasure. You're the first like we've done I think this is episode 300 and change and you're the first public adjuster we've had on so anyone who knows me knows that I'm a total insurance nerd and insurance buff so but for anyone who's not familiar, like what is a public adjuster and kind of give us a quick and dirty of what you're doing in real estate.   Andy: First of all, Bravo on 300 episodes. Plus, that's awesome. So thanks for you guys. And I'm lucky PA so this is pretty cool. Yeah, so public adjuster is is licensed by the state, he's legally able to represent the insured in their claim process, negotiate and settle the loss for them. Whether it's commercial or residential. It's basically like having an attorney on your side or an accountant doing your books. It's the same exact thing. They're licensed by the state that they work in as well.   Michael: Okay, okay. And I mean, it just seems like kind of counterintuitive. I go and pay an insurance company every single month, every single year to give me insurance. Then when I have a claim, an insurance claim, I go to the insurance company said, Hey, insurance company, here's this claim, pay me for the claim what I'm owed. So why do I need a public adjuster? Like why does your job even exist?   Andy: Yeah, that's a that's a great question. The reason our job exists is because insurance companies don't pay claims and don't pay them fairly. We've talked about this before the show, Mike, you work the insurance side. So you know, that claims, actually two people that work in our office work the insurance side, and they've got they seen how bad a guy and came to our side. Because claims are handled, I mean, horribly every year, it gets worse and worse. And our we just had a meeting with a couple of attorneys just discussing what's going on and what we could do in some situations, because it's getting so bad, that, you know, insurance companies aren't responding for a month or two months, or just I mean, so having a PA on your site, even though it's your claim, and you think you have to remember that insurance adjuster, that staff adjuster and every one that they send out every vendor contractor they sent out, they all get paid by the insurance company. So they're all working for this one entity. And then you're by yourself. And you're thinking, well, they're on my side, no doubt on your side. It's all about profits, margins, all that good stuff. So…   Michael: Yeah, I know it's so the word of news is sick. When you find out kind of what's going on under the hood. It's really what should be a partner relationship. Like you mentioned, everyone on the same team working for the same goal can be come very contentious very quickly. So you said it's like having an attorney or like having a bookkeeper on your side? I mean, it sounds expensive. How much do public adjusters charge? Like, how does that work?   Andy: Easy. Yep, Pa is most of the time charge a contingency fee. So there's no retainer is nothing, it's all contingency on what they recover. And you know what the claim settles for. And standard is 10%. Like our company has adopted just a 10%, nationwide, whatever claim we're handling, whatever the size is now, some situations where we come in, let's just say months after a year after the claim has been paid, and we're just trying to figure out maybe another coverage or paid additional than it might be a higher fee of maybe 20-25 on the money that we recover above that amount that would the only difference,   Michael: Okay, and so just so we get it crystal clear for all of our listeners, because I just went through this on a claim to fire claims I had on a property. If the insurance company comes into my claim, and says, Hey, Michael, we're gonna give you $100,000 For your claim, and I'm like, There's no way it's gotta be worth way more than that. You will come in or a public adjuster comes in, you end up getting me a million dollars, you're gonna take 10% of that additional 900k That you got me above and beyond what I was originally awarded.   Andy: Yeah, exactly. And something in your situation. So when we have claims, and we have large investors and management companies, we have a pay scale that actually the percentage goes down once it reaches a certain amount. So reaches, you know, half a million that 10% may become nine, right for every client, we kind of work with them, just because we kind of know their position. And again, we want to create a relationship that is long term, because then we're getting called when before the claim even starts right because we want to be there. You know, another question is when do you want to hire PA for the day you have a claim, because you want to make sure if that claim is a legit claim, if you should even file that claim, whatever your deductible is, is that even a covered loss?   A PA will, you know, we do this for our clients all the time we do their policies with their claims without making any money or charging any fee. It just part of our relationship with our clients.   Michael: Okay, I'm so glad you brought that up, Andy, because I get this question all the time. Because so many people don't like, insurance, education is not something that's really provided out there. And I'm wondering if that maybe is on purpose by the insurance companies, but like, how should people if they have something happened to their property? And statistically, if you own a property or enough properties long enough, you will probably have a claim?   So what's the process? Like if you could articulate and paint us a picture of as a property owner, whether it's our own property or an investment property? What should that process look like? What should what should owners be doing? Who should they be talking to?   Andy: Yeah, if you don't have a PA, and you're kind of going to try to do this on your own, you want to first stop whatever loss happens, you want to mitigate the loss, right, you want to get first you want to you want to get your copy of your policy to you want to see if your agent because you most likely don't have a copy, because no one knows that they don't have a copy until they have a loss to be like, Oh, I have this page, I'm gonna get your declaration, you need your policy, your booklet, you know, no one gets that usually, until something happens. And then it's hard to get it from the insurance company, it's like, they don't want to give you your own policy, very normal. Then you want to mitigate the loss. So if it's a fire, you want to board it up, protect it, make sure no one can get in there. Or if it's a roof, you want to cover the roof, if it's a roof claim, and then you want to go and take pictures and document as much as you can, and then call the claimant.   And when you call on the claimant and you're trying to set the reserves high enough. So then when they come in, and let's just say you have $100,000 loss, but when you told them the claim, you might have said, well, it's a small fire in the kitchen, small smoke, they might have reset the set the reserves at 25,000. And now the claim is actually 100. So now when we're trying to fight it, we're going to five managers like what's the example at State Farm, for example, once it goes past the reserves, you're going through letters like five managers to approve one payment are one extra additional line item, it's it gets really crazy.   So the most important is mitigating, mitigating the loss, getting your policy, reserving the claim calling the claimant, right? And if you don't know the answer, when you're discussing that claim, when you're calling it in, just say I don't know, because a lot of people get into trouble by trying to say too much to be too honest. And it's not about being honest or not, or, or lying. But people say the wrong words, they might use the word like mold, I see mold. Oh, well, molds not covered. Here's a denial letter. Well, the water, you know, the water happened three days ago, we have there's mold, because you know it's wet, it's humid mold molds catch up, but there's still water damage that's covered.   So different words they use. So you gotta be careful with words you so you want to do your due diligence, or even call your agent to call that claimant for you. If you need help.   Michael: Let's talk about that for a minute. Because in the agent world, you have captive and non captive agents. And so just like you were saying all the vendors are paid by the insurance company. I mean, in a lot of instances, aren't these agents paid by the insurance companies as well?   Andy: 100%. And I have friends that are agents and I know people are agents, and agents have a bonus if their clients don't file claims. So there is a bonus, there's a perk of them if their clients don't have claims or the correct. So everyone's got a benefit if the claim is not filed, and if it's underpaid, everyone gets points on that.   Michael: So can we surmise that if you have a claim, you should just call a public adjuster immediately?   Andy: 100%. Because it's a free review, what's the worst is going to happen? He's going to come in there and say don't file it. You don't have to sign with that PA but at least get that expertise. Now you want to make sure you find the right one. But if you do you have them looked at it and in depth look at the claim inspect the roof, inspect the fire damage inspector water damage and let you know everything you should do.   Michael: Yeah, I am. I had my first big claim to have them back to back couple years ago, I had two fires in a commercial building back to back a week apart, which I used to work as a professional fire protection engineer. And it's like statistically impossible to have that happen. I'm the one exception, right? So I went through the claim process I had the insurance company come out do their inspections like oh, it's small fire just like you said, you know teeny tiny claim payout. And I'm like dude, that doesn't even cover the materials that were sitting on the roof when I had the roof fire. So I brought in a public adjuster and they know about 15Xed that claim. So I can't sing their praises enough. When someone is searching for a public adjuster and you just mentioned this, you want to find the right one, like what does that process look like? What questions should you be asking?   Andy: I've never been on the other side. When I look and talk to our clients how they found us obviously they were looking online Googling and stuff and they were doing a search engine and kind of we came up online we do a lot of blogs and stuff. So we'll come up there with a lot of tips and stuff for people so they'll find our name. Otherwise, so if you're not looking online, you know, you can check websites like patio, which is Texas associations of public insurance adjusters, California has their own, some states have their own. There's the NAPIA National Association of Public Insurance. So there's different associations that you could go on, and find adjusters pas that have been screened and have backgrounds and pay their dues, because they're part of an organization. So that would be your, you know, your best bet. Referrals. Again, if I, if I knew you, I would say, Hey, Mike, you had a couple of fires, you know, did you hire who's a PA, you have someone to recommend. That's, that's your best bet. Someone that they worked for referral.   Michael: That that has had the actual experience with them? Yep. Okay. Are there certain questions that someone should be asking? I mean, what separates the different pas that are out there? Because I'm sure if I google that would get tons of different results. Is one better than the other? Like, is it just based on the fee structure? What should people be be considering? If they're going to hire someone?   Andy: That's an awesome question. So a lot of what you should be asking, and when you go online and look for PAs, a lot of them say, you know, fire water, they do all these things. But 90% of PAs handle just roofing claims, usually residential, some commercial. So it's, you have to make sure that hey, how do you handle fires? And how many fires have you handled? Or what do you specialize in? You might say, Well, we do a lot of roofs. That's not the PA, if you had a fire, you don't want the guy that's handling roofing claims. Right? For us, we do large loss, fires, water, hurricanes, we don't if someone calls for a residential roof. We don't we don't do residential roofs, we would love to, but we don't we don't specialize it. There's other PAs that do a great job, here's a couple of names you can call or, you know, Google and and find the problem just and it's in that it's just a committed, you know, attorney, some attorneys do, you know, personal injury, some do properties. Same thing with PA some PAs are better at some coverage than others.   Micael: Yeah, that makes total sense. Andy, let me ask you a question. Because it happened to me. And I'm curious now with the hindsight, what the proper move is, so I had this fire, and it was on the roof. And it was during a reroof. So they had all the materials up there. So all the materials burned up. And my public adjuster said, Don't touch anything on the roof. He said, We got to come out, we got to photograph everything we need to take care of, you know, we need to document everything. And meanwhile, it's really windy. There's debris blowing onto the neighbor's property into their, into their, into their courtyard and their fence. And so the neighbors called me complaining threatening to sue, they got crap blown everywhere. And I'm like, I can't it's like an active insurance investigation.   So you were talking about you want to mitigate the loss stop the loss from getting any worse. But are there instances where physically mitigating the loss than is like evidence tampering is the wrong word, but you understand how it's changing the scene.   Andy: Double edged sword? Yes, a double edged sword. We walk into properties all the time. And you know, or let's say we go into a hurricane area, or right now in Florida, and we see people outside with all their contents, right? Like all their house stuff, just in a pile. And I'm like, did you guys order material? Everything's gutted? I'm like, did you guys inventory take pictures? Well, no, but the insurance company said to just throw everything up. That's the worst idea ever. That's what they want. You just get rid of all your evidence. So that's a double edged sword. So when I say mitigate, you're supposed to mitigate the loss because they can technically your duties after last say you will mitigate. So if you don't, they can deny it. But what's mitigate right? If I had a pipe burst from the third story water comes as floods my whole house right? The insurance company is going to want to send a vendor out to pull some drywall or spray everything or dry everything and leave it. That's the goal. That's mitigation. But mitigation is you turning off the water. That's already mitigation, because it doesn't specify what technically mitigation is. It just says mitigate. So by me turning off the water, I have mitigated the loss. And I will tell my insurer just leave it because it's already all damaged. Whether you dry it or not, that's just gonna go against your thing. It's already damaged. It can't be its category three water. So it's got to be all replaced. Instead of paying a vendor all this money, this has got to be gutted, all that money should just go to you instead of that vendor.   So yeah, there is instances. So in yours, just because we have insurance, karma saying any Can we start rebuilding? Well, now because we're still fighting with the insurance company, and we're still negotiating, and if you start the repairs, then you you can date that's what they want. They want to keep holding, holding until you actually accept it and start the repairs.   Now, if they don't start the repairs, then they'll go well, why didn't the insured start the repairs? Right? So it's, we're trying to keep our clients in the best situation to make sure it's the best possible outcome. But it's hard sometimes, especially with landlords when they have tenants, right? Hey, my tenant is going to sue me or my tenants gonna go this if I don't do the repairs. Then do the repairs, I guess. And this is the settlement we're getting. So an insurance company knows this. So, in your situation. That's a tough call. What do you say like either the PA say, Hey, we got to do it this way. And he was doing it the right way. Because if you did mitigate or clean up that thing? And they come in? They're like, ah. Even if you document it, I'm telling you, it's like they don't even look at your photos. They don't care. Yeah, so they did the right thing.   Michael: Okay, good. Well, that's good to hear. I'm gonna go, I'm gonna go send them another thank you text after this episode. Yeah. Andy, can you give us like, maybe two scenarios to stories that you've experienced one where things went perfectly well, or as good as they could have gone and what you you're insured what your clients did to get there. And then maybe a scenario at the opposite end of the spectrum where things just like, just like, give us like the worst thing you've ever seen happen? Just so we have a little bit of context that…   Andy: Part of like claim handling or like? Okay, so I'll tell you, we were just like I said, we had the attorney, we were kind of going over claims and we have one, and I won't say the insurance company. This is in Gary, Indiana. This this poor lady that waged her claim has been handled, and it's by an adjuster that we've seen handle bad claims for other people in that area. Whether it's color, race, area, I don't know. But the way this this claim has been handled this lady the under oath and everything she's been through, like we thought we had it all over, they finally after six months, say okay, well pay the claim. And here's the money, we got to argue with them. They started at 30,000. It's $160,000 claim. But then we have contents another 160 that we sent wants to go and now we're asking what's going on with the content. So they come back well, well, which which was the insurance and which was her daughter's. Why does it matter? If you had a fire Mike, and you have your kids and your wife stuff in the house? That's all personal property? They're not on the pile? Are your kids on the policy now? Yeah, no kids are on the policy, but their stuff is covered. Right? So why are they're asking her so now they want to examine her again and her mom. So this is going to drag on for 10 months. So this and this claim is ongoing. So to us that to me, it's like, well, now I'm powerless as a PA. But what can I do?   So the only way is the attorney can help. But again, she's still going to have to do that examination. But it just shows how long they'll drag it and try to find ways of however, to underpay or just deny that claim. So that's bad. Yeah. And we have a bunch of those. So those hurt a lot of them, we win, this one again, we got the structure paid and figured out. Now we thought the contents was going to be a slam dunk, easy. Here's everything, even your vendor said, you can't clean this stuff. Great. Here's the list. Here's the pricing age of items. And now they come back with this. So, another tactic to delay the claim.   On a good note, we had one, it was a it was from another podcast, one of the investors students called us, he got the number to us and he called us he had a 16 unit in Champaign, Illinois, burned down here to ACV policy, you are familiar with actual cash value. Your listeners might not but meaning he would not recover depreciation, he would not get that amount even if he rebuilt. So he was just getting what's what it's worth now. So that building, he had a fit 550 limit that just came in, he wrote like 560. And they depreciated and cut him a check for maybe 300,000, something like that. So when we got hired, we sent our letter representation, and the adjuster called and said, Hey, Andy, you know, I paid this, I paid this to Max, I don't know why he hired you. I'm like, Well, you didn't pay loss of rents. And also you haven't paid demolition expense, and you only paid 300 when it's a 550 policy, you stopped writing, because our estimate is like 900,000. With no like edit, like this is just it.   So then we reconcile and the insured ended up getting 100%. So 550 plus 5%, debris removal, some other endorsements, plus he maxed out everything. So he ended up walking away with another 400, like 300K. So again, when an adjuster says, you know, we don't need you. And that's it again, there's many claims like that, those are the positives, it's the ones that drag on, and that you like, you know, you're close, but they're still like delaying, delaying, delaying. And it's like they want the insurance to just finally say, Okay, well, I'm done.   Michael: I'll just throw in the towel.   Andy: Yeah, it sucks. And, you know, there is statutes in each state, which they have to follow, but it's never followed, because no one ever calls them out on it. Because unless you actually go to court or litigation, that's when they show okay, we didn't do this. They didn't do this. But other than that, they don't really know. They kind of do their own thing.   Michael: Yeah, because they're so big. And you bring up you bring up a really good point ACV versus replacement costs for anyone that's not familiar with the to give us from from like the PA side of things. What is the benefit of one versus the other? Because I'm sure your clients have seen like the reason your client probably had the ACV was because the replacement costs value on that 70 unit 50 unit was just probably astronomical. So it's often a cheaper policy to get like what's the downsides of going with one versus the other and what risks do people run by choosing one versus the other?   Andy: So the riskier is with the actual cash value policy and most most policies are RCV based. And then they have the actual cash value endorsement that says we only pay actual cash value, what happens is why you would do that policy where some people might get that policy and our insured wasn't even aware of it. But the agent sold it to him didn't explain to him the differences. He didn't know that he had that extra cash value policy. So you know, that's another story. He went on his own. But, so what happens is you, it saves you a lot on your premium, especially if you're investing you're trying to make margins and you know, it could save you on a property like that 2-3-4K a year, right? Well, it's great until you actually have a loss, when you have a loss. You know, it's especially on older buildings, it's cutting your payment by half. And you can't recover that money because it's actual cash value. So the replacement cost of you know, your home today is 300,000, but the actual cash value after depreciation, your actual cash value is 150. Well, you're only getting that 150. Even if we got the settlement of 300. With insurance, your policy will only allow for the actual cash value of 150, which will leave you with only half the money to rebuild.   So you're always as an as an insured, you should always have a replacement cost policy. And now they have you know, different like guaranteed replacement costs and all this other openly, openly insurance actually has it. They don't even have its guaranteed replacement, because they don't even have a limit. I think it's up to one like there's no limit on structure a   Michael: Holy smokes.   Andy: So there's some new carriers that are really, really, really good, actually.   Michael: Okay. And that brings me to my next point. And I'm so glad you brought it up. Like Should folks be involved in public adjusters in their insurance carrier decisions as they're looking to go place insurance on properties?   Andy: I would hope so. Because all we do is read policies every day. All I do is read policies interpret policy. So I know when I'm looking at a policy, I'm like, Well, you have a good policy, but you don't have you have a finished basement, you don't have any water backup, you your roof is actual cash value only. Oh, I didn't know that. I didn't know there's a lot of stuff you you should be aware. So yeah, our longer term clients will actually inspect their properties, look at their policies to make sure they don't have any exposed liabilities. Right. Now, it's not our job. It's the agents job. But most of the agents now are just, you know, selling policies instead of actually doing their due diligence and ensuring the claim the right way, they insured.   Michael: Yeah, I just want to echo exactly what you said, for all of our listeners, like now the public adjuster that I worked with on this on these fire claims, I sent him every policy and every quote that I get for properties, and he told me he's like, happy to do it. He's like, Yeah, this is a great carrier. But this is the other thing. And also, he can tell me like, Hey, I've run up against this insurance carrier, we see them all the time, like they don't pay claims, we're going to be working together a lot more if you have a claim if you go with this company, which is super great insight to have.   Andy: That's, that's awesome. And that's the same thing. I would say, I would say this carrier, we have a lot we have, you know, this many claims every year. And you know, maybe it's a lesser policy, and that takes longer, but they'll pay the claims, right? These guys just don't pay or they didn't know, I have a list of insurance companies that I know that are easier to deal with. Now, it's your claim guarantee you're gonna be paid when you file a claim with them. No, it still might be a hard process. But they're much easier than these eight other carriers that they're that are out there.   Michael: Yeah. This has been so great. Andy, my last question for you, man. How many claims do you handle a year just out of curiosity? So I can we give people an idea of…   Andy: Yeah, we do over 1000 claims a year?   Michael: Well, but how many how many public adjusters in your office?   Andy: Oh, right now we have four. Right now we have four and we're just we just keep growing. We do a good job marketing and, and building our social media presence. And yeah, it's, it's, it's good. And I mean, I guess it's bad for the insurance. Maybe these claims are handled. But yes, tactically, we, our business grows and we get more calls.   Michael: That's awesome. And I want you to share with everyone your contact information where people can get a hold of you and like what kind of I know you said you don't do residential roofs, but what kind of claims should people consider reaching out to you for?   Andy: Any fire, you know, water claims, you know, whether it's broken pipes sewer backup, we can inspect those or at least advise sewer backups, usually, or water backup limits, they usually have a limit. So I see your limit is 10,000. I look at the photos and I'm like, Well, you max out the limit. You don't need a PA this one's just a max policy easy. A lot of people that call us if we get to two calls, three calls a day of clients that we just kind of give them advice because there's no need for a PA in some instances, they will but we can give them at least advice and help them out.   But fire claims hurricane even commercial roofs we do commercial roofs a lot. Residential roofs is just the one thing we don't really do. Just because we we don't have the staff to do it. So…   Michael: Yeah, okay, fantastic. And for people that want to reach out learn more about your take advantage of your services, what's the best way for them to do so?   Andy: The easiest way is my cell phone. It's literally for your clients they can for your listeners, they can call me it's 708 655 4186 that's literally my cell phone. They can text me call me I'm really easy to get a hold of while I still can. I'm able to get my phone away so write it down because I might have to switch here I might not be able to give my phone away and my wife gets mad with more calls.   Michael: I hope you're so busy that happens.   Andy: So ya know so far so far. Okay, wife's not getting mad, so…   Michael: Awesome. Andy, thank you so much, man. This was super great anyone watching the video could tell I'm super giddy talking about insurance stuff. It's so great to meet someone that's also as giddy so no, I really appreciate the time.   Andy: No, it's fun to actually have a host that actually knows that that area and yeah, it's fun. You You know you've been through it now yourself. So you kind of know the you know, you know, you know what we do and what a PA can help. So it's, good.   Michael: Big time, big time. Well, thanks again, man. I'm sure we'll be in touch.   Andy: Mike, thank you so much for having me. I appreciate it.   Michael: All right, everyone. That was our episode with Andy, A big thank you to him for coming on and sharing some great information, some great knowledge and wisdom with us. Definitely. If you are someone that is going through an insurance claim or will go through an insurance claim in your lifetime with the property you own, definitely consider hiring a public adjuster they are worth their weight in gold. As always, if you enjoyed the episode, please feel free to leave us a rating or review. We'd love to hear from you all in the comments section and ideas on future episode topics. And we look forward to seeing on the next one. Happy investing

The Return: Property & Investment Podcast
Housing market trends with Head of UK Residential Research at Savills and leading housing market commentator Lucian Cook and Anna Clare Harper

The Return: Property & Investment Podcast

Play Episode Listen Later Oct 27, 2022 25:02


I had the pleasure of catching up with Lucian Cook, Head of UK Residential Research at Savills and leading housing market commentator on the pod. Key topics include: What's happened in mainstream and prime housing in the last 2 years Economic, social and environmental sustainability and housing policy How scrapping mortgage affordability tests will affect house prices What next for UK house prices (the least inaccurate forecasts)? Guest website: https://www.savills.co.uk/people/savills-margaret-street/lucian-cook.aspx Guest LinkedIn: https://www.linkedin.com/in/lucian-cook/ Sponsor website: immo.capital Sponsor LinkedIn: https://www.linkedin.com/company/immoinvesttech/ Host LinkedIn: https://www.linkedin.com/in/annaclareharper/ Host website: annaclareharper.com

The Lunar Society
Brian Potter - Future of Construction, Ugly Modernism, & Environmental Review

The Lunar Society

Play Episode Listen Later Oct 27, 2022 145:57


Brian Potter is the author of the excellent Construction Physics blog, where he discusses why the construction industry has been slow to industrialize and innovate.He explains why:* Construction isn't getting cheaper and faster,* We should have mile-high buildings and multi-layer non-intersecting roads,* “Ugly” modern buildings are simply the result of better architecture,* China is so great at building things,* Saudi Arabia's Line is a waste of resources,* Environmental review makes new construction expensive and delayed,* and much much more!Watch on YouTube. Listen on Apple Podcasts, Spotify, or any other podcast platform. Read the full transcript here.Follow me on Twitter for updates on future episodes.More really cool guests coming up; subscribe to find out about future episodes!You may also enjoy my interviews with Tyler Cowen (about talent, collapse, & pessimism of sex). Charles Mann (about the Americas before Columbus & scientific wizardry), and Austin Vernon about (Energy Superabundance, Starship Missiles, & Finding Alpha).If you end up enjoying this episode, I would be super grateful if you share it, post it on Twitter, send it to your friends & group chats, and throw it up wherever else people might find it. Can't exaggerate how much it helps a small podcast like mine.A huge thanks to Graham Bessellieu for editing this podcast and Mia Aiyana for producing its transcript.Timestamps(0:00) - Why Saudi Arabia's Line is Insane, Unrealistic, and Never going to Exist (06:54) - Designer Clothes & eBay Arbitrage Adventures (10:10) - Unique Woes of The Construction Industry  (19:28) - The Problems of Prefabrication (26:27) - If Building Regulations didn't exist… (32:20) - China's Real Estate Bubble, Unbound Technocrats, & Japan(44:45) - Automation and Revolutionary Future Technologies (1:00:51) - 3D Printer Pessimism & The Rising Cost of Labour(1:08:02) - AI's Impact on Construction Productivity(1:17:53) - Brian Dreams of Building a Mile High Skyscraper(1:23:43) - Deep Dive into Environmentalism and NEPA(1:42:04) - Software is Stealing Talent from Physical Engineering(1:47:13) - Gaps in the Blog Marketplace of Ideas(1:50:56) - Why is Modern Architecture So Ugly?(2:19:58) - Advice for Aspiring Architects and Young Construction PhysicistsTranscriptWhy Saudi Arabia's Line is Insane, Unrealistic, and Never going to Exist Dwarkesh Patel Today, I have the pleasure of speaking with Brian Potter, who is an engineer and the author of the excellent Construction Physics blog, where he writes about how the construction industry works and why it has been slow to industrialize and innovate. It's one of my favorite blogs on the internet, and I highly, highly recommend that people check it out. Brian, my first question is about The Line project in Saudi Arabia. What are your opinions? Brian Potter It's interesting how Saudi Arabia and countries in the Middle East, in general, are willing to do these big, crazy, ambitious building projects and pour huge amounts of money into constructing this infrastructure in a way that you don't see a huge amount in the modern world. China obviously does this too in huge amounts, some other minor places do as well, but in general, you don't see a whole lot of countries building these big, massive, incredibly ambitious projects. So on that level, it's interesting, and it's like, “Yes, I'm glad to see that you're doing this,” but the actual project is clearly insane and makes no sense. Look at the physical arrangement layout–– there's a reason cities grow in two dimensions. A one-dimensional city is the worst possible arrangement for transportation. It's the maximum amount of distance between any two points. So just from that perspective, it's clearly crazy, and there's no real benefit to it other than perhaps some weird hypothetical transportation situation where you had really fast point-to-point transportation. It would probably be some weird bullet train setup; maybe that would make sense. But in general, there's no reason to build a city like that. Even if you wanted to build an entirely enclosed thing (which again doesn't make a huge amount of sense), you would save so much material and effort if you just made it a cube. I would be more interested in the cube than the line. [laughs] But yeah, those are my initial thoughts on it. I will be surprised if it ever gets built. Dwarkesh Patel Are you talking about the cube from the meme about how you can put all the humans in the world in a cube the size of Manhattan? Brian Potter Something like that. If you're just going to build this big, giant megastructure, at least take advantage of what that gets you, which is minimum surface area to volume ratio.Dwarkesh Patel Why is that important? Would it be important for temperature or perhaps other features? Brian Potter This is actually interesting because I'm actually not sure how sure it would work with a giant single city. In general, a lot of economies of scale come from geometric effects. When something gets bigger, your volume increases a lot faster than your surface area does. So for something enclosed, like a tank or a pipe, the cost goes down per thing of unit you're transporting because you can carry a larger amount or a smaller amount of material. It applies to some extent with buildings and construction because the exterior wall assembly is a really burdensome, complicated, and expensive assembly. A building with a really big floor plate, for instance, can get more area per unit, per amount of exterior wall. I'm not sure how that actually works with a single giant enclosed structure because, theoretically, on a small level, it would apply the same way. Your climate control is a function of your exterior surface, at some level, and you get more efficient climate control if you have a larger volume and less area that it can escape from. But for a giant city, I actually don't know if that works, and it may be worse because you're generating so much heat that it's now harder to pump out. For examples like the urban heat island effect, where these cities generate massive amounts of waste heat, I don't know if that would work if it didn't apply the same way. I'm trying to reach back to my physics classes in college, so I'm not sure about the actual mechanics of that. Generally though, that's why you'd want to perhaps build something of this size and shape. Dwarkesh Patel What was the thought process behind designing this thing? Because Scott Alexander had a good blog post about The Line where he said, presumably, that The Line is designed to take up less space and to use less fuel because you can just use the same transportation across. But the only thing that Saudi Arabia has is space and fuel. So what is the thought process behind this construction project? Brian PotterI get the sense that a lot of committees have some amount of success in building big, impressive, physical construction projects that are an attraction just by virtue of their size and impressiveness. A huge amount of stuff in Dubai is something in this category, and they have that giant clock tower in Jeddah, the biggest giant clock building and one of the biggest buildings in the world, or something like that. I think, on some level, they're expecting that you would just see a return from building something that's really impressive or “the biggest thing on some particular axis”. So to some extent, I think they're just optimizing for big and impressive and maybe not diving into it more than that. There's this theory that I think about every so often. It's called the garbage can theory of organizational decision-making, which basically talks about how the choices that organizations make are not the result of any particular recent process. They are the result of how, whenever a problem comes up, people reach into the garbage can of potential solutions. Then whatever they pull out of the garbage can, that's the decision that they end up going with, regardless of how much sense it makes. It was a theory that was invented by academics to describe decision-making in academia. I think about that a lot, especially with reference to big bureaucracies and governments. You can just imagine the draining process of how these decisions evolve. Any random decision can be made, especially when there's such a disconnect between the decision-makers and technical knowledge.Designer Clothes & eBay Arbitrage Adventures Dwarkesh PatelTell me about your eBay arbitrage with designer clothes. Brian Potter Oh man, you really did dive deep. Yeah, so this was a small business that I ran seven or eight years ago at this point. A hobby of mine was high-end men's fashion for a while, which is a very strange hobby for an engineer to have, but there you go. That hobby centers around finding cheap designer stuff, because buying new can be overwhelmingly expensive. However, a lot of times, you can get clothes for a very cheap price if you're even a little bit motivated. Either it shows up on eBay, or it shows up in thrift stores if you know what to look for. A lot of these clothes can last because they're well-made. They last a super, super, super long time–– even if somebody wore it for 10 years or something, it could be fine. So a lot of this hobby centered around finding ways to get really nice clothes cheaply. Majority of it was based around eBay, but it was really tedious to find really nice stuff on eBay. You had to manually search for a bunch of different brands, filter out the obviously bad ones, search for typos in brands, put in titles, and stuff like that. I was in the process of doing this, and I thought, “Oh, this is really annoying. I should figure out a way to automate this process.” So I made a very simple web app where when you searched for shoes or something, it would automatically search the very nice brands of shoes and all the typos of the brand name. Then it would just filter out all the junk and let you search through the good stuff. I set up an affiliate system, basically. So anybody else that used it, I would get a kick of the sales. While I was interested in that hobby, I ran this website for a few years, and it was reasonably successful. It was one of the first things I did that got any real traction on the internet, but it was never successful in proportion to how much effort it took to maintain and update it. So as I moved away from the hobby, I eventually stopped putting time and effort into maintaining the website. I'm curious as to how you even dug that up. Dwarkesh Patel I have a friend who was with you at the Oxford Refugees Conference, Connor Tabarrok. I don't know if you remember him. Brian Potter Nice. Dwarkesh Patel Yeah. Finding other information about you on the internet was quite difficult actually. You've somehow managed to maintain your anonymity. If you're willing to reveal, what was the P&L of this project? Brian Potter Oh, it made maybe a few hundred dollars a month for a few years, but I only ever ran it as a side hobby business, basically. So in terms of time per my effort or whatever, I'm sure it was very low. Pennies to an hour or something like that. Unique Woes of The Construction Industry   Dwarkesh Patel A broad theme that I've gotten from your post is that the construction industry is plagued with these lossy feedback loops, a lack of strong economies of scale, regulation, and mistakes being very costly. Do you think that this is a general characteristic of many industries in our world today, or is there something unique about construction? Brian Potter Interesting question. One thing you think of is that there are a lot of individual factors that are not unique at all. Construction is highly regulated, but it's not necessarily more regulated than medical devices or jet travel, or even probably cars, to some extent, which have a whole vat of performance criteria they need to hit. With a couple of things like land use, for example, people say, “Oh, the land requirements, could you build it on-site,” explaining how those kinds of things make it difficult. But there is a lot that falls into this category that doesn't really share the same structure of how the construction industry works.I think it's the interaction of all those effects. One thing that I think is perhaps underappreciated is that the systems of a building are really highly coupled in a way that a lot of other things are. If you're manufacturing a computer, the hard drive is somewhat independent from the display and somewhat independent from the power supply. These things are coupled, but they can be built by independent people who don't necessarily even talk to each other before being assembled into one structured thing. A building is not really like that at all. Every single part affects every single other part. In some ways, it's like biology. So it's very hard to change something that doesn't end up disrupting something else. Part of that is because a job's building is to create a controlled interior environment, meaning, every single system has to run through and around the surfaces that are creating that controlled interior. Everything is touching each other. Again, that's not unique. Anything really highly engineered, like a plane or an iPhone, share those characteristics to some extent. In terms of the size of it and the relatively small amount you're paying in terms of unit size or unit mass, however, it's quite low. Dwarkesh Patel Is transportation cost the fundamental reason you can't have as much specialization and modularity?Brian Potter Yeah, I think it's really more about just the way a building is. An example of this would be how for the electrical system of your house, you can't have a separate box where if you needed to replace the electrical system, you could take the whole box out and put the new box in. The electrical system runs through the entire house. Same with plumbing. Same with the insulation. Same with the interior finishes and stuff like that. There's not a lot of modularity in a physical sense. Dwarkesh Patel Gotcha. Ben Kuhn  had this interesting comment on your article where he pointed out that many of the reasons you give for why it's hard to innovate in construction, like sequential dependencies and the highly variable delivery timelines are also common in software where Ben Koon works. So why do you think that the same sort of stagnation has not hit other industries that have superficially similar characteristics, like software? Brian Potter How I think about that is that you kind of see a similar structure in anything that's project-based or anything where there's an element of figuring out what you're doing while you're doing it. Compared to a large-scale manufacturing option where you spend a lot of time figuring out what exactly it is that you're building. You spend a lot of time designing it to be built and do your first number of runs through it, then you tweak your process to make it more efficient. There's always an element of tweaking it to make it better, but to some extent, the process of figuring out what you're doing is largely separate from the actual doing of it yourself. For a project-based industry, it's not quite like that. You have to build your process on the fly. Of course, there are best practices that shape it, right? For somebody writing a new software project or anything project-based, like making a movie, they have a rough idea for how it's going to go together. But there's going to be a lot of unforeseen things that kind of come up like that. The biggest difference is that either those things can often scale in a way that you can't with a building. Once you're done with the software project, you can deploy it to 1,000 or 100,000, or 1 million people, right? Once you finish making a movie, 100 million people can watch it or whatever. It doesn't quite look the same with a building. You don't really have the ability to spend a lot of time upfront figuring out how this thing needs to go. You kind of need to figure out a way to get this thing together without spending a huge amount of time that would be justified by the sheer size of it. I was able to dig up a few references for software projects and how often they just have these big, long tails. Sometimes they just go massively, massively over budget. A lot of times, they just don't get completed at all, which is shocking, but because of how many people it can then be deployed to after it's done, the economics of it are slightly different. Dwarkesh Patel I see, yeah. There's a famous law in software that says that a project will take longer than you expect even after you recount for the fact that it will take longer than you expect. Brian Potter Yeah. Hofstadter's law or something like that is what I think it is. Dwarkesh Patel Yeah. I'm curious about what the lack of skill in construction implies for startups. Famously, in software, the fact that there's zero marginal cost to scaling to the next customer is a huge boon to a startup, right? The entire point of which is scaling exponentially. Does that fundamentally constrain the size and quantity of startups you can have in construction if the same scaling is not available?Brian Potter Yeah, that's a really good question. The obvious first part of the answer is that for software, obviously, if you have a construction software company, you can scale it just like any other software business. For physical things, it is a lot more difficult. This lack of zero marginal cost has tended to fight a lot of startups, not just construction ones. But yeah, it's definitely a thing. Construction is particularly brutal because the margins are so low. The empirical fact is that trying what would be a more efficient method of building doesn't actually allow you to do it cheaper and get better margins. The startup that I used to work at, Katerra, their whole business model was basically predicated on that. “Oh, we'll just build all our buildings in these big factories, get huge economies of scale, reduce our costs, and then recoup the billions of dollars that we're pumping into this industry or business.” The math just does not work out. You can't build. In general, you can't build cheap enough to kind of recoup those giant upfront costs. A lot of businesses have been burned that way. The most success you see in prefabrication type of stuff is on the higher end of things where you can get higher margins. A lot of these prefab companies and stuff like that tend to target the higher end of the market, and you see a few different premiums for that. Obviously, if you're targeting the higher end, you're more likely to have higher margins. If you're building to a higher level of quality, that's easier to do in a factory environment. So the delta is a lot different, less enormous than it would be. Building a high level of quality is easier to do in a factory than it is in the field, so a lot of buildings or houses that are built to a really high level of energy performance, for instance, need a really, really high level of air sealing to minimize how much energy this house uses. You tend to see a lot more houses like that built out of prefab construction and other factory-built methods because it's just physically more difficult to achieve that on-site. The Problems of Prefabrication Dwarkesh Patel Can you say more about why you can't use prefabrication in a factory to get economies of scale? Is it just that the transportation costs will eat away any gains you get? What is going on? Brian PotterThere's a combination of effects. I haven't worked through all this, we'll have to save this for the next time. I'll figure it out more by then. At a high level, it's that basically the savings that you get from like using less labor or whatever is not quite enough to offset your increased transportation costs. One thing about construction, especially single-family home construction, is that a huge percentage of your costs are just the materials that you're using, right? A single-family home is roughly 50% labor and 50% materials for the construction costs. Then you have development costs, land costs, and things like that. So a big chunk of that, you just can't move to the factory at all, right?  You can't really build a foundation in a factory. You could prefab the foundation, but it doesn't gain you anything. Your excavation still has to be done on-site, obviously. So a big chunk can't move to the factory at all. For ones that can, you still basically have to pay the same amount for materials. Theoretically, if you're building truly huge volume, you could get material volume discounts, but even then, it's probably not looking at things like asset savings. So you can cut out a big chunk of your labor costs, and you do see that in factory-built construction, right? These prefab companies are like mobile home companies. They have a small fraction of labor as their costs, which is typical of a factory in general, but then they take out all that labor cost while they still have their high material costs, and then they have overhead costs of whatever the factory has cost them. Then you have your additional overhead cost of just transporting it to site, which is pretty limited. The math does not really work out in favor of prefab, in terms of being able to make the cost of building dramatically cheaper. You can obviously build a building in a prefab using prefab-free methods and build a successful construction business, right? Many people do. But in terms of dramatically lowering your costs, you don't really see that. Dwarkesh Patel Yeah, yeah. Austin Vernon has an interesting blog post about why there's not more prefabricated homes. The two things he points out were transportation costs, and the other one was that people prefer to have homes that have unique designs or unique features. When I was reading it, it actually occurred to me that maybe they're actually both the result of the same phenomenon. I don't know if I'm pronouncing it correctly, but have you heard of the Alchian-Allen theorem in economics? Brian Potter Maybe, but I don't think so. Dwarkesh Patel Basically, it's the idea that if you increase the cost of some category of goods in a fixed way––let's say you tax oranges and added a $1 tax to all oranges, or transportation for oranges gets $1 more expensive for all oranges––people will shift consumption towards the higher grade variety because now, the ratio of the cost between the higher, the more expensive orange and the less expensive orange has decreased because of the increase in fixed costs. It seems like you could use that argument to also explain why people have strong preferences for uniqueness and all kinds of design in manufactured houses. Since transportation costs are so high, that's basically a fixed cost, and that fixed cost has the effect of making people shift consumption towards higher-grade options. I definitely think that's true. Brian PotterI would maybe phrase this as, “The construction industry makes it relatively comparatively cheap to deliver a highly customized option compared to a really repetitive option.” So yeah, the ratio between a highly customized one and just a commodity one is relatively small. So you see a kind of industry built around delivering somewhat more customized options. I do think that this is a pretty broad intuition that people just desire too much customization from their homes. That really prevents you from having a mass-produced offering. I do think that is true to some extent. One example is the Levittown houses, which were originally built in huge numbers–– exactly the same model over and over again. Eventually, they had to change their business model to be able to deliver more customized options because the market shipped it. I do think that the effect of that is basically pretty overstated. Empirically, you see that in practice, home builders and developers will deliver fairly repetitive housing. They don't seem to have a really hard time doing that. As an example, I'm living in a new housing development that is just like three or four different houses copy-pasted over and over again in a group of 50. The developer is building a whole bunch of other developments that are very similar in this area. My in-laws live in a very similar development in a whole different state. If you just look like multi-family or apartment housing, it's identical apartments, you know, copy-pasted over and over again in the same building or a bunch of different buildings in the same development. You're not seeing huge amounts of uniqueness in these things. People are clearly willing to just live in these basically copy-pasted apartments. It's also quite possible to get a pretty high amount of product variety using a relatively small number of factors that you vary, right? I mean, the car industry is like this, where there are enough customization options. I was reading this book a while ago that was basically pushing back against the idea that the car industry pre-fifties and sixties we just offering a very uniform product. They basically did the math, and the number of customization options on their car was more than the atoms in the universe. Basically just, there are so many different options. All the permutations, you know, leather seats and this type of stereo and this type of engine, if you add it all up, there's just a huge, massive number of different combinations. Yeah, you can obviously customize the house a huge amount, just by the appliances that you have and the finishes that are in there and the paint colors that you choose and the fixtures and stuff like that. It would not really theoretically change the underlying way the building comes together. So regarding the idea that the fundamental demand for variety is a major obstruction, I don't think there's a whole lot of evidence for that in the construction industry. If Construction Regulation Vanished… Dwarkesh Patel I asked Twitter about what I should ask you, and usually, I don't get interesting responses but the quality of the people and the audience that knows who you are was so high that actually, all the questions I got were fascinating. So I'm going to ask you some questions from Twitter. Brian Potter Okay. Dwarkesh Patel 0:26:45Connor Tabarrok asks, “What is the most unique thing that would or should get built in the absence of construction regulation?”Brian Potter Unique is an interesting qualifier. There are a lot of things that just like should get built, right? Massive amounts of additional housing and creating more lands in these really dense urban environments where we need it, in places like San Francisco–– just fill in a big chunk of that bay. It's basically just mud flat and we should put more housing on it. “Unique thing” is more tricky. One idea that I really like (I read this in the book, The Book Where's My Flying Car),  is that it's basically crazy that our cities are designed with roads that all intersect with each other. That's an insane way to structure a material flow problem. Any sane city would be built with multiple layers of like transportation where each one went in a different direction so your flows would just be massively, massively improved. That just seems like a very obvious one.If you're building your cities from scratch and had your druthers, you would clearly want to build them and know how big they were gonna get, right? So you could plan very long-term in a way that so these transportation systems didn't intersect with each other, which, again, almost no cities did. You'd have the space to scale them or run as much throughput through them as you need without bringing the whole system to a halt. There's a lot of evidence saying that cities tend to scale based on how much you can move from point A to point B through them. I do wonder whether if you changed the way they went together, you could unlock massively different cities. Even if you didn't unlock massive ones, you could perhaps change the agglomeration effects that you see in cities if people could move from point A to point B much quicker than they currently can. Dwarkesh Patel Yeah, I did an episode about the book, where's my flying car with Rohit Krishnan. I don't know if we discussed this, but an interesting part of the book is where he talks about transistor design. If you design transistors this way, can you imagine how slow they would be? [laughs] Okay, so Simon Grimm asks, “What countries are the best at building things?”Brian Potter This is a good question. I'm going to sort of cheat a little bit and do it in terms of space and time, because I think most countries that are doing a good job at building massive amounts of stuff are not ones that are basically doing it currently.The current answer is like China, where they just keep building–– more concrete was used in the last 20 years or so than the entire world used in the time before that, right? They've accomplished massive amounts of urbanization, and built a lot of really interesting buildings and construction. In terms of like raw output, I would also put Japan in the late 20th century on there. At the peak of the concern and wonder of “Is Japan gonna take over the world?”, they were really interested in building stuff quite quickly. They spent a lot of time and effort trying to use their robotics expertise to try to figure out how to build buildings a lot more quickly. They had these like really interesting factories that were designed to basically extrude an entire skyscraper just going up vertically.All these big giant companies and many different factories were trying to develop and trying to do this with robotics. It was a really interesting system that did not end up ever making economic sense, but it is very cool. I think big industrial policy organs of the government basically encouraged a lot of these industrial companies to basically develop prefabricated housing systems. So you see a lot of really interesting systems developed from these sort of industrial companies in a way that you don't see in a lot of other places. From 1850 to maybe 1970 (like a hundred years or something), the US was building huge massive amounts of stuff in a way that lifted up huge parts of the economy, right? I don't know how many thousands of miles of railroad track the US built between like 1850 and 1900, but it was many, many, many thousands of miles of it. Ofcourse, needing to lay all this track and build all these locomotives really sort of forced the development of the machine tool industry, which then led to the development of like better manufacturing methods and interchangeable parts, which of course then led to the development of the automotive industry. Then ofcourse, that explosion just led to even more big giant construction projects. So you really see that this ability to build just big massive amounts of stuff in this virtuous cycle with the US really advanced a lot of technology to raise the standard of development for a super long period of time. So those are my three answers. China's Real Estate Bubble, Unbound Technocrats, and JapanDwarkesh Patel Those three bring up three additional questions, one for each of them! That's really interesting. Have you read The Power Broker, the book about Robert Moses? Brian Potter I think I got a 10th of the way through it. Dwarkesh Patel That's basically a whole book in itself, a 10th of the way. [laughs] I'm a half of the way through, and so far it's basically about the story of how this one guy built a startup within the New York state government that was just so much more effective at building things, didn't have the same corruption and clientelism incompetence. Maybe it turns into tragedy in the second half, but so far it's it seems like we need this guy. Where do we get a second Robert Moses? Do you think that if you had more people like that in government or in construction industries, public works would be more effectively built or is the stagnation there just a result of like other bigger factors? Brian Potter That's an interesting question. I remember reading this article a while ago that was complaining about how horrible Penn Station is in New York. They're basically saying, “Yeah, it would be nice to return to the era of like the sort of unbound technocrat” when these technical experts in high positions of power in government could essentially do whatever they wanted to some extent. If they thought something should be built somewhere, they basically had the power to do it. It's a facet of this problem of how it's really, really hard to get stuff built in the US currently. I'm sure that a part of it is that you don't see these really talented technocrats occupy high positions of government where they can get stuff done. But it's not super obvious to me whether that's the limiting factor. I kind of get the sense that they would end up being bottlenecked by some other part of the process. The whole sort of interlocking set of institutions has just become so risk averse that they would end up just being blocked in a way that they wouldn't when they were operating in the 1950s or 1960s.Dwarkesh Patel Yeah, yeah, that's interesting. All right, so speaking of Japan, I just recently learned about the construction there and how they just keep tearing stuff down every 30 to 40 years and rebuilding it. So you have an interesting series of posts on how you would go about building a house or a building that lasts for a thousand years. But I'm curious, how would you build a house or a building that only lasts for 30 or 40 years? If you're building in Japan and you know they're gonna tear it down soon, what changes about the construction process? Brian Potter Yeah, that's interesting. I mean, I'm not an expert on Japanese construction, but I think like a lot of their interior walls are basically just paper and stuff like that. I actually think it's kind of surprising that last time I looked, for a lot of their homes, they use a surprising post and beam construction method, which is actually somewhat labor-intensive to do. The US in the early 1800s used a pretty similar method. Then once we started mass producing conventional lumber, we stopped doing that because it was much cheaper to build out of two-by-fours than it was to build big heavy posts. I think the boring answer to that question is that we'd build like how we build mobile homes–– essentially just using pretty thin walls, pretty low-end materials that are put together in a minimal way. This ends up not being that different from the actual construction method that single-family homes use. It just even further economizes and tightens the use of materials–– where a single-family home might use a half inch plywood, they might try to use three-sixteenths or even an eighth inch plywood or something like that. So we'd probably build a pretty similar way to the way most single-family homes and multi-family homes are built currently, but just with even tighter use of materials which perhaps is something that's not super nice about the way that you guys build your homes. But... [laughs]Dwarkesh Patel Okay, so China is the third one here. There's been a lot of talk about a potential real estate bubble in China because they're building housing in places where people don't really need it. Of course, maybe the demographics aren't there to support the demand. What do you think of all this talk? I don't know if you're familiar with it, but is there a real estate bubble that's created by all this competence in building? Brian PotterOh, gosh, yeah, I have no idea. Like you, I've definitely heard talk of it and I've seen the little YouTube clips of them knocking down all these towers that it turns out they didn't need or the developer couldn't, finish or whatever. I don't know a huge amount about that. In general, I wish I knew a lot more about how things are built in China, but the information is in general, so opaque. I generally kind of assume that any particular piece of data that comes out of China has giant error bars on it as to whether it's true or not or what the context surrounding it is. So in general, I do not have a hard opinion about that. Dwarkesh Patel This is the second part of Simon's question, does greater competence and being able to build stuff translate into other good outcomes for these countries like higher GDP or lower rents or other kinds of foreign outcomes? Brian Potter That's a good question. Japan is an interesting place where basically people point to it as an example of, “Here's a country that builds huge amounts of housing and they don't have housing cost increases.” In general, we should expect that dynamic to be true. Right? There's no reason to not think that housing costs are essentially a supply-demand problem where if you built as much as people wanted, the cost would drop. I have no reason to not think that's true. There is a little bit of evidence that sort of suggests that it's impossible to build housing enough to overcome this sort of mechanical obstacle where the cost of it tends to match and rise to whatever people's income level are. The peak and the sort of flattening of housing costs in Japan also parallel when people basically stopped getting raises and income stopped rising in Japan. So I don't have a good sense of, if it ends up being just more driven by some sort of other factors. Generally though I expect the very basic answer of “If you build a lot more houses, the housing will become cheaper.”Dwarkesh PatelRight. Speaking of how the land keeps gaining value as people's income go up, what is your opinion on Georgism? Does that kind of try and make you think that housing is a special asset that needs to be more heavily taxed because you're not inherently doing something productive just by owning land the way you would be if you like built a company or something similar?Brian Potter I don't have any special deep knowledge of Georgism. It's on my list of topics to read more deeply about. I do think in general, taxing encourages you to produce less of something for something that you can't produce less of. It's a good avenue for something to tax more heavily. And yeah, obviously if you had a really high land value tax in these places that have a lot of single-family homes in dense urban areas, like Seattle or San Francisco, that would probably encourage people to use the land a lot more efficiently. So it makes sense to me, but I don't have a ton of special knowledge about it. Dwarkesh Patel All right, Ben Kuhn asked on Twitter, “What construction-related advice would you give to somebody building a new charter city?”Brian Potter That is interesting. I mean, just off the top of my head, I would be interested in whether you could really figure out a way to build using a method that had really high upfront costs. I think it could otherwise be justified, but if you're gonna build 10,000 buildings or whatever all at once, you could really take advantage of that. One kind of thing that you see in the sort of post-World War II era is that we're building huge massive amounts of housing, and a lot of times we're building them all in one place, right? A lot of town builders were building thousands and thousands of houses in one big development all at once. In California, it's the same thing, you just built like 6 or 10 or 15,000 houses in one big massive development. You end up seeing something like that where they basically build this like little factory on their construction site, and then use that to like fabricate all these things. Then you have something that's almost like a reverse assembly line where a crew will go to one house and install the walls or whatever, and then go to the next house and do the same thing. Following right behind them would be the guys doing the electrical system, plumbing, and stuff like that. So this reverse assembly line system would allow you to sort of get these things up really, really fast, in 30 days or something like that. Then you could have a whole house or just thousands and thousands of houses at once. You would want to be able to do something similar where you could just not do the instruction the way that the normal construction is done, but that's hard, right? Centrally planned cities or top-down planned cities never seem to do particularly well, right? For example, the city of Brasilia, the one that was supposed to be a planned city— the age it goes back to the unfettered technocrat who can sort of build whatever he wants. A lot of times, what you want is something that will respond at a low level and organically sort out the factories as they develop. You don't want something that's totally planned from the top-down, that's disconnected from all the sorts of cases on the ground. A lot of the opposition to Robert Moses ended up being that in a certain form, right? He's bulldozing through these cities that are these buildings and neighborhoods that he's not paying attention to at all. So I think, just to go back to the question, trying to plan your city from the top down doesn't have a super, super great track record. In general, you want your city to develop a little bit more organically. I guess I would think to have a good sort of land-use rules that are really thought through well and encourage the things that you want to encourage and not discourage the things that you don't want to discourage. Don't have equity in zoning and allow a lot of mixed-use construction and stuff like that. I guess that's a somewhat boring answer, but I'd probably do something along those lines. Dwarkesh Patel Interesting, interesting. I guess that implies that there would be high upfront costs to building a city because if you need to build 10,000 homes at once to achieve these economies of scale, then you would need to raise like tens of billions of dollars before you could build a charter city. Brian Potter Yeah, if you were trying to lower your costs of construction, but again, if you have the setup to do that, you wouldn't necessarily need to raise it. These other big developments were built by developers that essentially saw an opportunity. They didn't require public funding to do it. They did in the form of loan guarantees for veterans and things like that, but they didn't have the government go and buy the land. Automation and Revolutionary Future Technologies Dwarkesh Patel Right, okay, so the next question is from Austin Vernon. To be honest, I don't understand the question, you two are too smart for me, but hopefully, you'll be able to explain the question and then also answer it. What are your power rankings for technologies that can tighten construction tolerances? Then he gives examples like ARVR, CNC cutting, and synthetic wood products. Brian Potter Yeah, so this is a very interesting question. Basically, because buildings are built manually on site by hand, there's just a lot of variation in what ends up being built, right? There's only so accurately that a person can put something in place if they don't have any sort of age or stuff like that. Just the placement itself of materials tends to have a lot of variation in it and the materials themselves also have a lot of variation in them. The obvious example is wood, right? Where one two by four is not gonna be exactly the same as another two by four. It may be warped, it may have knots in it, it may be split or something like that. Then also because these materials are sitting just outside in the elements, they sort of end up getting a lot of distortion, they either absorb moisture and sort of expand and contract, or they grow and shrink because of the heat. So there's just a lot of variation that goes into putting a building up.To some extent, it probably constrains what you are able to build and how effectively you're able to build it. I kind of gave an example before of really energy efficient buildings and they're really hard to build on-site using conventional methods because the air ceiling is quite difficult to do. You have to build it in a much more precise way than what is typically done and is really easily achieved on-site. So I guess in terms of examples of things that would make that easier, he gives some good ones like engineered lumber, which is where you take lumber and then grind it up into strands or chips or whatever and basically glue them back together–– which does a couple of things. It spreads all the knots and the defects out so they are concentrated and everything tends to be a lot more uniform when it's made like that. So that's a very obvious one that's already in widespread use. I don't really see that making a substantial change.I guess the one exception to that would be this engineered lumber product called mass timber elements, CLT, which is like a super plywood. Plywood is made from tiny little sheet thin strips of wood, right? But CLT is made from two-by-four-dimensional lumber glued across laminated layers. So instead of a 4 by 9 sheet of plywood, you have a 12 by 40 sheet of dimensional lumber glued together. You end up with a lot of the properties of engineered material where it's really dimensionally stable. It can be produced very, very accurately. It's actually funny that a lot of times, the CLT is the most accurate part of the building. So if you're building a building with it, you tend to run into problems where the rest of the building is not accurate enough for it. So even with something like steel, if you're building a steel building, the steel is not gonna be like dead-on accurate, it's gonna be an inch or so off in terms of where any given component is. The CLT, which is built much more accurately, actually tends to show all these errors that have to be corrected. So in some sense, accuracy or precision is a little bit of like a tricky thing because you can't just make one part of the process more precise. In some ways that actually makes things more difficult because if one part is really precise, then a lot of the time, it means that you can't make adjustments to it easily. So if you have this one really precise thing, it usually means you have to go and compensate for something else that is not built quite as precisely. It actually makes advancing precision quite a bit more complicated. AR VR, is something I'm very bullish on. A big caveat of that is assuming that they can just get the basic technology working. The basic intuition there is that right now the way that pieces are, when a building is put together on site, somebody is looking at a set of paper plans, or an iPad or something that tells them where everything needs to go. So they figure that out and then they take a tape measure or use some other method and go figure out where that's marked on the ground. There's all this set-up time that is really quite time consuming and error prone. Again, there's only so much accuracy that a guy dragging a tape 40 feet across site being held by another guy can attain, there's a limit to how accurate that process can be. It's very easy for me to imagine that AR would just project exactly where the components of your building need to go. That would A, allow you a much higher level of accuracy that you can easily get using manual methods. And then B, just reduce all that time it takes to manually measure things. I can imagine it being much, much, much faster as well, so I'm quite bullish on that. At a high level and a slightly lower level, it's not obvious to me if they will be able to get to the level where it just projects it with perfect accuracy right in front of you. It may be the case that a person moving their head around and constantly changing their point of view wont ever be able to project these things with millimeter precision––it's always gonna be a little bit jumpy or you're gonna end up with some sort of hard limit in terms of like how precisely you can project it. My sense is that locator technology will get good enough, but I don't have any principle reason believing that. The other thing is that being able to take advantage of that technology would require you to have a really, really accurate model of your building that locates where every single element is precisely and exactly what its tolerances are. Right now, buildings aren't designed like that, they are built using a comparatively sparse set of drawings that leaves a lot to sort of be interpreted by the people on site doing the work and efforts that have tried to make these models really, really, really precise, have not really paid off a lot of times. You can get returns on it if you're building something really, really complex where there's a much higher premium to being able to make sure you don't make any error, but for like a simple building like a house, the returns just aren't there. So you see really comparatively sparse drawings. Whether it's gonna be able to work worth this upfront cost of developing this really complex, very precise model of where exactly every component is still has to be determined. There's some interesting companies that are trying to move in this direction where they're making it a lot easier to draw these things really, really precisely and whave every single component exactly where it is. So I'm optimistic about that as well, but it's a little bit TBD. Dwarkesh Patel This raises a question that I actually wanted to ask you, which is in your post about why there aren't automatic brick layers. It was a really interesting post. Somebody left in an interesting comment saying that bricks were designed to be handled and assembled by humans. Then you left a response to that, which I thought was really interesting. You said, “The example I always reach for is with steam power and electricity, where replacing a steam engine with an electric motor in your factory didn't do much for productivity. Improving factory output required totally redesigning the factory around the capabilities of electric motors.” So I was kind of curious about if you apply that analogy to construction, then what does that look like for construction? What is a house building process or building building process that takes automation and these other kinds of tools into account? How would that change how buildings are built and how they end up looking in the end? Brian Potter I think that's a good question. One big component of the lack of construction productivity is everything was designed and has evolved over 100 years or 200 years to be easy for a guy or person on the site to manipulate by hand. Bricks are roughly the size and shape and weight that a person can move it easily around. Dimensional lumber is the same. It's the size and shape and weight that a person can move around easily. And all construction materials are like this and the way that they attach together and stuff is the same. It's all designed so that a person on site can sort of put it all together with as comparatively little effort as possible. But what is easy for a person to do is usually not what is easy for a machine or a robot to do, right? You typically need to redesign and think about what your end goal is and then redesign the mechanism for accomplishing that in terms of what is easy to get to make a machine to do. The obvious example here is how it's way easier to build a wagon or a cart that pulls than it is to build a mechanical set of legs that mimics a human's movement. That's just way, way, way easier. I do think that a big part of advancing construction productivity is to basically figure out how to redesign these building elements in a way that is really easy for a machine to produce and a machine to put together. One reason that we haven't seen it is that a lot of the mechanization you see is people trying to mechanize exactly what a person does. You'd need a really expensive industrial robot that can move exactly the way that a human moves more or less. What that might look like is basically something that can be really easily extruded by a machine in a continuous process that wouldn't require a lot of finicky mechanical movements. A good example of this technology is technology that's called insulated metal panels, which is perhaps one of the cheapest and easiest ways to build an exterior wall. What it is, is it's just like a thin layer of steel. Then on top of that is a layer of insulation. Then on top of that is another layer of steel. Then at the end, the steel is extruded in such a way that it can like these inner panels can like lock together as they go. It's basically the simplest possible method of constructing a wall that you can imagine. But that has the structural system and the water barrier, air barrier, and insulation all in this one really simple assembly. Then when you put it together on site, it just locks together. Of course there are a lot of limitations to this. Like if you want to do anything on top of like add windows, all of a sudden it starts to look quite a bit less good. I think things that are really easy for a machine to do can be put together without a lot of persistent measurement or stuff like that in-field. They can just kind of snap together and actually want to fit together. I think that's kind of what it looks like. 3D Printer Pessimism & The Rising Cost of LabourDwarkesh Patel What would the houses or the buildings that are built using this physically look like? Maybe in 50 to 100 years, we'll look back on the houses we have today and say, “Oh, look at that artisanal creation made by humans.” What is a machine that is like designed for robots first or for automation first? In more interesting ways, would it differ from today's buildings? Brian Potter That's a good question. I'm not especially bullish on 3D building printing in general, but this is another example of a building using an extrusion process that is relatively easy to mechanize. What's interesting there is that when you start doing that, a lot of these other bottlenecks become unlocked a little bit. It's very difficult to build a building using a lot of curved exterior surfaces using conventional methods. You can do it, it's quite expensive to do, but there's a relatively straightforward way for a 3D-printed building to do that. They can build that as easily as if it was a straight wall. So you see a lot of interesting curved architecture on these creations and in a few other areas. There's a company that can build this cool undulating facade that people kind of like. So yeah, it unlocks a lot of options. Machines are more constrained in some things that they can do, but they don't have a lot of the other constraints that you would otherwise see. So I think you'll kind of see a larger variety of aesthetic things like that. That said, at the end of the day, I think a lot of the ways a house goes together is pretty well shaped to just the way that a person living inside it would like to use. I think Stewart Brand makes this point in––Dwarkesh Patel Oh, How Buildings Learn. Brian Potter There we go. He basically makes the point that a lot of people try to use dome-shaped houses or octagon-shaped houses, which are good because, again, going back to surface area volume, they include lots of space using the least amount of material possible. So in some theoretical sense, they're quite efficient, but it's actually quite inconvenient to live inside of a building with a really curved wall, right? Furniture doesn't fit up against it nicely, and pictures are hard to hang on a really curved wall. So I think you would see less variation than maybe you might expect. Dwarkesh Patel Interesting. So why are you pessimistic about 3D printers? For construction, I mean. Brian Potter Yeah, for construction. Oh God, so many reasons. Not pessimistic, but just there's a lot of other interesting questions. I mean, so the big obvious one is like right now a 3D printer can basically print the walls of a building. That is a pretty small amount of the value in a building, right? It's maybe 7% or 8%, something like that. Probably not more than 10% of the value in a building. Because you're not printing the foundation, you're not printing like the overhead vertical, or the overhead spanning structure of the building. You're basically just printing the walls. You're not even really printing the second story walls that you have in multiple stories. I don't think they've quite figured that out yet. So it's a pretty small amount of value added to the building. It's frankly a task that is relatively easy to do by manual labor. It's really pretty easy for a crew to basically put up the structure of a house. This is kind of a recurring theme in mechanization or it goes back to what I was talking about to our previous lead. Where it takes a lot of mechanization and a lot of expensive equipment to replace what basically like two or three guys can do in a day or something like that. The economics of it are pretty brutal. So right now it produces a pretty small value. I think that the value of 3D printing is basically entirely predicated on how successful they are at figuring out how to like deliver more components of the building using their system. There are companies that are trying to do this. There's one that got funded not too long ago called Black Diamond, where they have this crazy system that is like a series of 3D printers that would act simultaneously, like each one building a separate house. Then as you progress, you switch out the print head for like a robot arm. Cause a 3D printer is basically like a robot arm with just a particular manipulator at the end, right?So they switch out their print head for like a robot arm, and the robot arm goes and installs different other systems like the windows or the mechanical systems. So you can figure out how to do that reliably where your print head or your printing system is installing a large fraction of the value of the building. It's not clear to me that it's gonna be economic, but it obviously needs to reach that point. It's not obvious to me that they have gotten there yet. It's really quite hard to get a robot to do a lot of these tasks. For a lot of these players, it seems like they're actually moving away from that. I think in ICON is the biggest construction 3D printer company in the US, as far as I know. And as far as I know, they've moved away from trying to install lots of systems in their walls as they get printed. They've kind of moved on to having that installed separately, which I think has made their job a little bit easier, but again, not quite, it's hard to see how the 3D printer can fulfill its promises if it can't do anything just beyond the vertical elements, whichare really, for most construction, quite cheap and simple to build. Dwarkesh Patel Now, if you take a step back and talk how expensive construction is overall, how much of it can just be explained by the Baumol cost effect? As in labor costs are increasing because labor is more productive than other industries and therefore construction is getting more expensive. Brian Potter I think that's a huge, huge chunk of it. The labor fraction hasn't changed appreciably enough. I haven't actually verified that and I need to, but I remember somebody that said that they used to be much different. You sent me some literature related to it. So let's add a slight asterisk on that. But in general the labor cost has remained a huge fraction of the overall cost of the building. Reliably seeing their costs continue to rise, I think there's no reason to believe that that's not a big part of it. Dwarkesh Patel Now, I know this sounds like a question with an obvious answer, but in your post comparing the prices of construction in different countries, you mentioned how the cost of labor and the cost of materials is not as big a determiner of how expensive it is to construct in different places. But what does matter? Is it the amount of government involvement and administrative overhead? I'm curious why those things (government involvement and administrative overhead) have such a high consequence on the cost of construction. Brian Potter Yeah, that's a good question. I don't actually know if I have a unified theory for that. I mean, basically with any heavily regulated thing, any particular task that you're doing takes longer and is less reliable than it would be if it was not done right. You can't just do it as fast as on your own schedule, right? You end up being bottlenecked by government processes and it reduces and narrows your options. So yeah, in general, I would expect that to kind of be the case, but I actually don't know if I have a unified theory of how that works beyond just, it's a bunch of additional steps at any given part of the process, each of which adds cost. Dwarkesh Patel Yeah. Now, one interesting trend we have in the United States with construction is that a lot of it is done by Latino workers and especially by undocumented Latino workers. What is the effect of this on the price and the quality of construction? If you have a bunch of hardworking undocumented workers who are working for below-market rates in the US, will this dampen the cost of construction over time? What do you think is going to happen? Brian Potter I suspect that's probably one of the reasons why the US has comparatively low construction costs compared to other parts of the world. Well, I'll caveat that. Residential construction, which is single-family homes and multi-family apartment buildings all built in the US and have light framed wood and are put together, like you said, by a lot of like immigrant workers. Because of that, it would not surprise me if those wages are a lot lower than the equivalent wage for like a carpenter in Germany or something like that. I suspect that's a factor in why our cost of residential construction are quite low. AI's Impact on Construction ProductivityDwarkesh Patel Overall, it seems from your blog post that you're kind of pessimistic, or you don't think that different improvements in industrialization have transferred over to construction yet. But what do you think is a prospect of future advances in AI having a big impact on construction? With computer vision and with advances in robotics, do you think we'll finally see some carry-over into construction productivity or is it gonna be more of the same? Brian Potter Yeah, I think there's definitely gonna be progress on that axis. If you can wire up your computer vision systems, robotic systems, and your AI in such a way that your capabilities for a robot system are more expanded, then I kind of foresee robotics being able to take a larger and larger fraction of the tasks done on a typical construction site. I kind of see it being kind of done in narrow avenues that gradually expand outward. You're starting to see a lot of companies that have some robotic system that can do one particular task, but do that task quite well. There's a couple of different robot companies that have these little robots for like drawing wall layouts on like concrete slabs or whatever. So you know exactly where to build your walls, which you would think would not be like a difficult problem in construction, but it turns out that a lot of times people put the walls in the wrong spot and then you have to go back and move them later or just basically deal with it. So yeah, it's basically a little Roomba type device that just draws the wall layout to the concrete slab and all the other systems as well–– for example, where the lines need to run through the slab and things like that. I suspect that you're just gonna start to see robotics and systems like that take a larger and larger share of the tasks on the construction site over time. Dwarkesh Patel Yeah, it's still very far away. It's still very far away. What do you think of Flow? That's Adam Neumann's newest startup and backed with $350 million from Andreeseen Horowitz.Brian Potter I do not have any strong opinions about that other than, “Wow, they've really given him another 350M”. I do not have any particularly strong opinions about this. They made a lot they make a lot of investments that don't make sense to me, but I'm out of venture capital. So there's no reason that my judgment would be any good in this situation–– so I'm just presuming they know something I do not. Dwarkesh Patel I'm going to be interviewing Andreeseen later this month, and I'm hoping I can ask him about that.Brian Potter You know, it may be as simple as he “sees all” about really high variance bets. There's nobody higher variance in the engine than Adam Neumann so, maybe just on those terms, it makes sense. Dwarkesh Patel You had an interesting post about like how a bunch of a lot of the knowledge in the construction industry is informal and contained within best practices or between relationships and expectations that are not articulated all the time. It seems to me that this is also true of software in many cases but software seems much more legible and open source than these other physical disciplines like construction despite having a lot of th

Freddie Mac Multifamily
Rental Communities with UV Residential

Freddie Mac Multifamily

Play Episode Listen Later Oct 26, 2022 29:38


In this episode, Corey Aber and Steve Guggenmos chat with Peter Slaugh, Managing Partner and Founder of Open Path Investments and Alejandra Montano, Director of Impact from UV Residential, about rental communities and how to engage tenants with their four-pillar framework. Chapter 1: 0:00 – Introducing the four-pillar framework that connects individuals and the broader community Chapter 2: 10:00 – Community Partnerships Chapter 3: 20:41 – Urban Village Program Impact

Real Estate News: Real Estate Investing Podcast
The Real Estate News Brief: Fed's Next Meeting, Urban Office Decline, Hybrid Workplace Challenge

Real Estate News: Real Estate Investing Podcast

Play Episode Listen Later Oct 26, 2022 6:05


In this Real Estate News Brief for the week ending October 22nd, 2022... what's ahead with the Fed's next meeting, the decline of the urban office, and the hybrid workplace challenge.Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review.Economic NewsWe begin with economic news from this past week, and forward-looking news about the Fed's next meeting. Federal Reserve officials are set to hold their meeting on November first and second, and will likely approve a .75 rate hike. They will also be discussing the size of a potential rate hike in December that many economists foresee as a smaller increase. Fed Governor Christopher Waller said in a recent speech: “We will have a very thoughtful discussion about the pace of tightening at our next meeting.” (1)The jobless rate went down by 12,000 applications last week as the effects of Hurricane Ian disappeared. Initial claims dropped to a three-week low of 214,000 which indicates that layoffs are still very low. Despite all the turbulence going on economically, the low numbers mean that the job market is still very strong. (2)U.S. housing starts did a big reversal in September. They were up 13.7% in August, and dropped to a seasonally adjusted 8.1% last month. On an annual basis, they were down 7.7% in September. When you separate single-family homes from apartments, new single-family starts were down 4.7% and a big 13.1% for multi-families. Residential building permits were up 1.4% to 1.56 million which beat some analysts expectations. The numbers reflect weakening demand in the midst of high prices and shortages. (3)Home builder sentiment is also suffering. The National Association of Home Builders' monthly confidence report shows the index dropped eight points in October, to just 38. Anything under 50 is considered negative. It's the tenth month in a row that the index has fallen and it's now the lowest it's been since August of 2012. Just one year ago, the index was at 80. (4)Existing home sales continue to drop further, as the housing slowdown continues. According to the National Association of Realtors, they were down a seasonally adjusted 1.5% in September, to an annual rate of 4.71 million homes. It's the eighth month in a row that existing home sales have declined. If you exclude pandemic interference with the market, sales haven't been this low since September of 2012. Looking back one year, sales are off 23.8%. (5)Buyers are being cautious as the market changes. The median price for an existing home was down in September from $389,500 to $384,800. Inventory is also dropping. It was down 2.3% to 1.25 million homes last month because many people are staying put, and not selling. Homes are typically staying on the market for 19 days, which is up from 16 days a month ago. Before the pandemic, homes were averaging one month on the market.Mortgage RatesMortgage rates have topped 7% for some lenders, but Freddie Mac says the average rate for a 30-year fixed-rate mortgage is 6.94%. That's up 2 basis points from the week before. The 15-year was up 15 basis points to 6.23%. (6)In other news making headlines...Urban vs. Suburban Office SpaceVacancies are rising for urban office space as leases expire, and companies change their workplace strategies. A report by Marcus & Millichap shows that urban office vacancies rose 550 basis points from the beginning of the pandemic until June of last year. They've risen more slowly since then, but they are still up 30 basis points since June to 18.6%. Meanwhile, suburban office vacancies have gone “down” 30 basis points, and rents are up 2.9%. (7)The report in GlobeSt.com says that “suburban properties continue to be more resilient than their urban counterparts.” They are also much cheaper to rent at about two-thirds the price. This reversal is working well for some companies with employees who now prefer the suburbs, although decisions on return-to-work policies are still very much in transition.The Workplace TransitionA recent survey by the Building Owners and Managers International says that 86% of the respondees feel that the office environment is still vital for a successful business, but 71% say they will continue on a plan to facilitate some amount of remote work even if Covid disappears entirely. Only 15% of both employers and employees support full-time remote work. (8)One of the big questions is “how hybrid” should an office space be? Although each company will be unique in what works best, finding that sweet spot is difficult. Sociologist and author Tracy Brower says that some younger employees may want to spend more days at the office, but many employees want more emphasis on remote work.Brower says: “People need plenty of choices about where, when and how they work” and that “a continuing conversation” is needed to answer questions concerning engagement, performance, and other workforce behavior. At this point, there's no putting the genie back in the bottle.That's it for today. Check the show notes for links. And please remember to hit the subscribe button, and leave a review!If you'd like to find out more about real estate investing, please join RealWealth for free at newsforinvestors.com. As a member, you have access to our market data, and a Learning Center filled with articles that can help you get started. Thanks for listening. I'm Kathy Fettke.Links:1 -https://www.wsj.com/articles/fed-set-to-raise-rates-by-0-75-point-and-debate-size-of-future-hikes-11666356757?mod=pls_whats_news_us_business_f2 -https://www.marketwatch.com/story/jobless-claims-drop-to-three-week-low-of-214-000-as-hurricane-ian-effects-fade-11666269576?mod=bnbh_mwarticle3 -https://www.marketwatch.com/story/u-s-housing-starts-retreat-in-september-dragging-down-u-s-growth-11666184699?mod=economic-report4 -https://www.marketwatch.com/story/builder-sentiment-drops-to-the-lowest-level-since-2012-home-builders-say-the-situation-is-unhealthy-and-unsustainable-11666102293?mod=economic-report5 -https://www.marketwatch.com/story/u-s-existing-home-sales-fall-again-as-housing-downturn-gathers-steam-11666274678?mod=economic-report6 -https://www.freddiemac.com/pmms

Clean Power Hour
Growing Residential and Commercial Solar Markets from the Midwest and Beyond with Eric Peterman, CEO, GRNE Solar Ep.110

Clean Power Hour

Play Episode Listen Later Oct 25, 2022 43:34 Transcription Available


The growth of the solar industry depends on contractors, EPCs, and developers who are bringing residential and commercial solar to scale across the US. GRNE Solar is one such solar EPC, founded in Chicago and recently acquired by financial services company Nelnet. On this episode of the Clean Power Hour, we bring you Eric Peterman the founder and CEO of GRNE - a residential and commercial EPC working across five midwestern states (Illinois, Indiana, Iowa, Missouri, Nebraska) and soon many more. We discuss the impact of the Inflation Reduction Act (IRA) and the growth of solar plus storage in Illinois with incentives like CEJA (Climate & Equitable Jobs Act). This interview will be of interest to energy professionals, facility owners, and entrepreneurs - the journey that Eric is taking GRNE on is truly inspiring. Key TakeawaysWhy and when Eric Peterman got into the solar industryHow GRNE Solar functions as an EPC, Commercial, and Residential solar installerTheir new partnership with Nelnet Investment and how this unlocks market growth His thoughts on the IRA and the Colorado Solar MarketWhy you should join the solar revolutionHis view on solar and battery storage (Illinois has a $250/kWh incentive)Listen to the Watts Up PodcastConnect with GRNE SolarConnect with Eric PetermanCorporate sponsors who share our mission to speed the energy transition are invited to check out https://www.cleanpowerhour.com/support/ Twice a week we highlight the tools, technologies and innovators that are making the clean energy transition a reality - on Apple,

Relentless Positivity Podcast
Negativity Kills, Positivity Builds, And Hope For My Bald Brothers

Relentless Positivity Podcast

Play Episode Listen Later Oct 25, 2022 9:59


In this episode, I talk about how negativity killed a record number of POWs in the Korean War, why a bucket of positivity can change your life and how to fill that bucket. Plus some great news for my bald brothers and a great Wiseman joke. This one is short and sweet! Please support my sponsors! I know them all personally and can vouch for their integrity and quality. -Apparel Lab for all your shirts, hats, mugs hoodies, or WHATEVER you want to put your logo or ideas on! Go check out their website at https://apparellab.ink/ -For website design, graphic design, internet marketing, and more check out McWilliams Marketing at http://www.McWilliamsmarketing.com -Use Patnaik Realty for ANY real estate needs you have. I mean anything! Residential, commercial, property management, investments, acquisitions. He does it all. Call Teek at 256-694-0117 or e-mail him at Teek@PatnaikCo.com -Get your child caught up on their school math with Mathnasium of Madison. Their website is http://www.mathnasium.com/madisonal -Go check out my Amazon Best Selling Book "Relentless Positivity"- https://cutt.ly/Nj7jqNN --- Send in a voice message: https://anchor.fm/relentlesspositivity/message

How to Scale Commercial Real Estate
All About The People: Relationship Driven Business

How to Scale Commercial Real Estate

Play Episode Listen Later Oct 25, 2022 18:32


Justin Mullen is President and Principal of the Reliable Group, Hyatt Commercial. He has more than 10 years of experience in the commercial real estate industry. Justin supports the sales, leasing, and acquisition strategies of the company's growing portfolio.   [00:01 - 04:38] How a Former Third Party Brokerage Services Provider Found Success in Merging with Three Other Companies Justin left their previous company to create a similar business and then Covid hit in 2020 They merged with three other companies and bought the company away from the bank at a time when it was ripe for buying Both strategic and timing factors played into their success.   [04:39- 11:31] Systems Can Help Your Business Grow Quickly The company has grown into a blend of investor and broker, with good people and good relationships is the key to success. Having a best in class internal resources was important when the company was a management company and a brokerage company under one financial combined. Creating these resources internally was not possible when the company was separated into two divisions. Systems play a critical role in growth, and implementing good systems is key to speeding up processes and reducing administrative work. Having team members who are skilled in operations helps to manage the systems effectively. 11:32 - 17:29]How One Leader Uses Relationships to Build Business Justin discusses how their leadership style differs from others and how they focus on building relationships over implementing a one-size-fits-all system. The company has seen success in recent years in developing smaller retail spaces and in pre-leasing retail spaces before the buildings are completed. The company is optimistic about the market for neighborhood grocery-anchored retail and smaller retail spaces.   [17:29 - 18:32] Closing Segment Reach out to Justin Mullen!  Links Below ----------------------------------------------------------------------------------   Tweetable Quotes:   “Just do everything faster. When you think about a good idea, pick up the phone and act on it. whether it's an investment opportunity, or a business development opportunity. Procrastination is the enemy.” - Justin Mullen  Connect with Justin Mullen by visiting www.hyattcommercial.com   Connect with me:   I love helping others place money outside of traditional investments that both diversify a strategy and provide solid predictable returns.     Facebook   LinkedIn   Like, subscribe, and leave us a review on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on.  Thank you for tuning in!   Email me → sam@brickeninvestmentgroup.com Want to read the full show notes of the episode? Check it out below: [00:00:28] Sam Wilson: Justin Mullen is the president of Hyatt Commercial. He runs a full-service commercial real estate firm based in Maryland. Justin, welcome to the show.  [00:00:37] Justin Mullen: Good morning. How are you doing? Thanks for having me.  [00:00:38] Sam Wilson: I'm great. Justin, how about you? I'm doing fantastic. Awesome. Justin, there are three questions I ask every guest who comes on the show. In 90 seconds or less, can you tell me where did you start? Where are you now, and how did you get it?  [00:00:51] Justin Mullen: Absolutely. Like every good entrepreneur, I started by selling lollipops in elementary school. No, just an entrepreneur at heart. I got into real estate in January 2008. Commercial real estate, I should say. I was in residence for a few months before that. Some of you might remember, that was a pretty tough time to be in real estate. I was a third-party broker for, 10 years. Continued to be a third-party broker to this day. And was focused on just servicing office industrial flex clients in central Maryland for a regionally based brokerage company. About five years ago I left that company and moved over to a more boutique brokerage company that had some, property management division and a small portfolio of assets that was owned by the family that originally founded it. I was brought on to run and. Re-energize the brokerage company at the time. That was roughly 2017. We grew from, give or take, five agents including myself to today. We have 18 of us. About two years ago, I, along with one of my partners, my operating partner on the property management side of the company and one of the, call it founders of H Commercial. We purchased the company away from a community bank that had owned it. There's a long history of that, but the community bank was founded by the son of the founder of Hyatt. And so it operated as an entity of the community bank for probably 10-plus years. We purchased it away and merged with three other operating companies to form the reliable group, which is what we run now, which is a full-service firm brokerage, property management, land development, and general contracting services, and we started. Residential division all of which provides third-party services primarily to. Third-party clients, but we also have a significant portfolio of land holdings and assets through the related entities and operating companies that are  [00:03:10] Sam Wilson: going on there. That's a, yeah, that's a lot of moving pieces. Do you feel like this, as you just being in the right place at the right time, or were there some strategic steps you took to get, mean, all the way down to, merging with three other companies? I mean, You don't go looking for that. I can't  [00:03:28] Justin Mullen: imagine. Yeah. A little of both. When I left the previous company that I was with for 10 years doing, strictly just third-party brokerage services, I left specifically for the reason of being able to grow and build a business to a certain degree. Become a competitor of my previous company. They, in my opinion, a very, a best in class operators. geographically they were targeting a different area kind of than what my specialty was. So when I left there, that's what I was trying to do was to kind of create a similar style company. And then Covid hit in 2020 and really the opportunity arose outta that. I had a longstanding relationship. The companies that we've ultimately merged with I took them a deal, to sell, which is the office building that I'm sitting in now. And in the process of selling them an office building, We got to talking about what their plans were with their businesses, what my plans were with our businesses, and it took us, nine months or so to kind of get through the transaction. But the fact that the world had kind of shut down and the brokerage company certainly was, had slowed significantly led to a unique opportunity to buy the company away from the bank. At a time when it was, ripe for buying. So it was a little bit of both. Great timing but also it was something that I went looking for to achieve  [00:04:55] Sam Wilson: that in, in, in that, in the last five years it sounds like, previously you were all, it was strictly brokerage, but you've become, it sounds like, a blend of investor and broker at this point. [00:05:08] Justin Mullen: Yeah. We, as we've grown the companies, we service. What I'll call an informal family office. So a lot of the call it assets that are, they're not owned by the companies, they're owned by separate entities, but we service those assets. And so it's a good foundation for all of the service companies. And the. The families have come together to form that operate very large companies in construction and construction materials. And so they've got significant land holdings in addition to, current assets. So we've always got something in the pipeline that we're either developing or doing a value add to, or, our 18 brokers still primarily serve third-party clients. How  [00:05:56] Sam Wilson: do you keep it  [00:05:56] Justin Mullen: all straight? good people and good relationships. That's the critical part is, we've, our partners, come together and formed a well-thought-out ownership group. And so each division is set as its own company and owns its financials. And it requires that everybody is paying attention to, every dollar and cent, and yeah, you have to own your financial statements. There's no hiding, failures here or there. If it's if you've taken ownership of it you're, you gotta make the right decisions and we've got good people to do that. So, not, there's no single one of us that is in charge of everything or has to, keep track of every detail that's going on.  [00:06:43] Sam Wilson: Yeah, I guess that's a good point cuz you could very easily have one very productive side of the company covering for maybe one side of the business. It's not as doing as well. I love the idea of every And is that maybe what you'd recommend is, I mean, even if somebody is vertically integrated, to treat them all as separate businesses? Yeah, I  [00:07:00] Justin Mullen: think it worked well for us. And again, you. Previously when we were a management company and a brokerage company really under one financial combined, it was hard to tell who was, kind of, which of those companies was succeeding on their own. Or, as we separated those financials, both our brokerage and. Property management divisions have exploded. I mean, we've grown, two and threefold in two years on both of those divisions. And part of it is that you take ownership of it at that point, and we're compensated based on that. So to me, it's, one of the reasons that I enjoyed the brokerage side of the business in running a team is that the team is self-motivated. You can't be in real estate and not be self-motivated, whether you're an investor or a broker, And so the same goes for the operators of each of our companies. There has to  [00:07:54] Sam Wilson: be more things that you guys have put in place besides just, Hey, you run your own financial, your balance sheets on you. Like, what other things have you guys done to motivate and inspire  [00:08:05] Justin Mullen: your team? Yeah, well, two, two things there. I would say that, Having good systems in place and using third-party resources, again, coming from a big, a bigger shop where at the time, again, I, you know I considered them the best-in-class, regional operator. They had great internal resources. How do you process commissions? How do you process new listings? How do you underwrite, investment opportunities? And everything at the time had been created in-house. And when I moved over and started running my shop, I started to try and create that stuff internally. Like using Excel models too, to, run something. And what I've discovered is, There's somebody that, that's all they do and they have built a third party. A lot of times its software as a service. Systems. , we can implement overnight almost, and it doesn't cost us a ton of money, to create the system. We just need to have the processes in place. So to me, the single most important thing for growth has been implementing good systems that allow us to take a lot of the administrative work and like shrink the time down to a much more efficient process.  [00:09:22] Sam Wilson: Is that something you are personally gifted in or have you brought on team members that can implement and manage those systems? Especially I'm thinking about in the early growth stages like it's just a lot of massaging those, I would imagine, cuz at first, as you said, you built an Excel model and you're like, okay, this is inefficient or maybe it doesn't work as well as it.  [00:09:41] Justin Mullen: Yeah. Yeah. So, the answer is most of the time I'm the one kind of investigating and trying to evaluate the quality of a resource, right? And so initially, in particular, the first two years of kind of creating this, or rebranding this brokerage company, I was having to be, neck deep in a lot of those resources and understand how they should be utilized. Fast forward a couple of years now. I understand them enough to say, Hey, we need to be using this. But I've got an administrative assistant who's fantastic and she, she takes on that role, most of the time.  [00:10:17] Sam Wilson: Right. No, that's cool. I mean, to have that skill set, it's something, commonly it's not a skill set I possess is the operations side of things. Like I can get the ball rolling, but then once, once it's knee deep or neck deep into figuring. You know how this connects to that. It's that I just get overwhelmed. So having those team members, on board that are the kind of, that kind of nerd out on that stuff, I think is  important. And especially down to the point where it's like, now I don't even know necessarily how the systems work. It's just I know they work. It's like, Okay, cool. Then that's. Again, going back to I think what you talked about earlier, which is building your business on relationships. Can you tell me a little bit about that and why you feel like that's so important to how you and your firm have developed? [00:10:58] Justin Mullen: Well, yeah, and it's interesting cuz You talk about the administrative systems, and how that kind of makes you more efficient. Then I look at the other side of it and the business development side of it is where our time needs to be spent. , from a leadership role, I don't try and implement any one system, fits all methodologies within the team. Everybody has their own. Way of building their business. Personally, my business has been built almost entirely based on relationships, so it's rarely a hard sell. It's a, build a relationship over time. And it, ultimately leads to, opportunities. And so, like everybody else, I, or like most good salespeople, I should say, I try and refer out, probably 10 times as much business as I ultimately get. And that, in the long run, allows for, longevity and success, and stability. I'm not doing the 400,000 cold calls in, in 24 months that I've heard some of your other guests doing. It's just not my system, now I've got people on the team here. That they do have systems like that. And it very much was, how many calls do I make? How many meetings do I get, and have a very clear path to success? And my number one agent, I would say was more structured that way than myself. . And he's succeeded very quickly at a young age. So, everybody has a different way of doing it, but for me and our team as a whole, even our investment opportunities come through relationships where somebody's got a piece of land. We've got, at any given time, we're actively developing 10 to 15 different projects and probably looking at another, 15 to 20 from a high level, like should we focus on this? And they all come through relationships.  [00:12:47] Sam Wilson: That's a lot, That's a lot of moving pieces. you phrased this to me before we kicked this episode off and you said you are relationship driven versus opportunistic and I think that's a very as an investor, I think that's how we were talking about that and I think that's a very different Take on, Hey, I'm an opportunities investor, you said, No, I'm relationship driven. Can you speak to that a little bit more?  [00:13:09] Justin Mullen: Yeah, I just, I think a lot of investors, claim to be opportunistic and what that means to me is that they think that there's an opportunity to get a better deal than the next guy or get a better deal that guy is buying it from. And certainly, we'd like to, get great deals too. For those deals, you either have to be making again, Thousands of cold calls, to find that one opportunistic deal or you build relationships and people bring those deals to you. And so, yeah, we may not squeeze every single dollar out of a deal, but we ensure that the next time that partner or seller or end user, whichever it may be, that's asking us to develop something or go in on it with them, it's coming back to us to ask us to do it again. And so that's why I say it's relationship-based rather than just opportunistic.  [00:14:03] Sam Wilson: I like that. I like that a lot. I'd love to hear your thoughts here. We've got about four minutes left and before we sign off, I'd love to hear your thoughts on the broader market, and what you guys are seeing. I know you've mentioned development maybe talk to us a little bit about what you guys are developing and where you feel opportunity lies in today's market. [00:14:23] Justin Mullen: For us, it's kind of about creativity. We don't have a box. There's no box that we have to fit in. Again, it usually comes to us through a relationship. But we've got we're certainly, We are optimistic about, call it neighborhood grocery-anchored retail. Even smaller retail, we just finished two 10,000 square foot retail buildings. They kind of shadow a bigger development and we pre-lease those before, before the base buildings were done, which, Three years ago, nobody would've thought you'd be pre-leasing, retail. Right. We've got another 20,000-square-foot kind of neighborhood, center that's in a very rural area and we're 75% pre-leased on that. We haven't even, we haven't even gone vertical on that one yet. We've got a grocery-anchored center that we're in development on that. Once we lock down a grocer, that's gonna do very well because of the, what I'll call sister companies, and I didn't get into it, but we've got some sister operating companies that are in heavy industrial. So we've got four or five heavy industrial projects under contract throughout Virginia. Right. That we, really like as a long-term hold. And again, it could be, these are locations that could be industrial, or outdoor storage. They could be, lay down yards. They could be vertical development with buildings on them. We just know that the industrial world is shrinking while the demand is expanding. And so, controlling the land is. And then, again, I'm not a doomsday office person. There are a lot of people out there right now that are saying Office is dying. And I think in certain locations, office is gonna really struggle. I think that the big corporate world is gonna be the hardest to get back to the office, but in our kind of tertiary, suburban, urban location like Annapolis, Maryland, like Richmond, like Columbia, Maryland. The office is doing pretty well. People want to work closer to home, and so value add opportunities in the office world is something that we're, we're eager to look at as well. [00:16:29] Sam Wilson: That's awesome. Justin, you got your hands full. I certainly appreciate it. If you would rewind the last I guess 18 to now, what is that? It's 15, 16, something like that. Years, not even quite 14 years. Tell me, what are some things if there was one thing you could do differently, what would it be? [00:16:45] Justin Mullen: Just do everything faster. There are very few things that the longer I thought about it, uh, you know, got more, that I had more opportunity. When you think about a good idea, pick up the phone and act on it. whether it's an investment opportunity, or a business development opportunity procrastination is the enemy. I've, one of the things I've done very well is surrounded myself with people that act that, that act quickly at every level of the company. So to me, that's the biggest mistake I've made over the years is not just picking up the phone and moving as quickly as.  [00:17:19] Sam Wilson: I like that. And I think you answered my second question, which is, what is one thing that you feel like you've done well? And I think you, you may have given the answer, but just in case you have a different answer. Yeah.  [00:17:29] Justin Mullen: Surrounding myself with good people, putting the right people in place, and having, being able to look at the industry and the business from a macro level and kind of how all of the moving pieces work together. And then having good people that are individually looking at the micro level, dealing with the individual pieces and making sure they. I love  [00:17:47] Sam Wilson: it. I love it. Justin, thank you for taking the time to come on the show today. I certainly appreciate it. If our listeners wanna get in touch with you or learn more about you, what is the best way to do that? [00:17:56] Justin Mullen: hyattcommercial.com based out of Annapolis, Maryland. You know the reliable group is the parent company. You can look up either one of those online and find us. Awesome.  [00:18:05] Sam Wilson: Justin, thank you again. Certainly appreciate it. Thank you   

Latinos In Real Estate Investing Podcast
Dominating the New York Real Estate Market with Humberto Lopes

Latinos In Real Estate Investing Podcast

Play Episode Listen Later Oct 24, 2022 66:15


Martin Perdomo The Elite Strategist teaches individuals how to invest and create wealth in Real Estate, and in this week's episode, he is joined by a fellow Brooklyn native,  who developed Commercial, Industrial, and Residential properties throughout New York, the CEO of H.L. Dynasty, Humberto Lopes. Humberto is here to share his success story from handyman to finding success in the Development and Real Estate Industry. Find out what he attributes all his success to in this very inspiring episode! HUMBERTO LOPES' LINKSYOUTUBE: https://www.youtube.com/c/HumbertoLopes_hldynasty/INSTAGRAM: https://www.instagram.com/hl_dynasty/ WEBSITE: https://www.hldynastyre.com/LINKEDIN: https://www.linkedin.com/in/humberto-lopes-a84304/CHECK OUT MY MERCHANDISE: https://the-elite-strategist.creator-spring.com/To Reach Martin Perdomo "The Elite Strategist": martin@premierridgecapital.comIf you want to learn more on how to invest passively in Multifamily Real Estate visit our website:  https://www.premierridgecapital.comTo get on our newsletter http://eepurl.com/gDkX0PConnect with us on social media:Instagram: https://www.instagram.com/elitestrategist/Facebook: https://www.facebook.com/theelitestrategistCheck out our online course and learn How to wholesale Real Estate:https://real-estate-investing15.teachable.com/p/real-estate-beginner-deals/Check our Real Estate Investors Club meet-up Website:https://stroudsburgrei.comGet our Free Habit Register by texting the word  STRATEGIES to 33222

Murder Roadtrip: A True Crime Podcast
Ep: 31 Maryland & Your Residential Jewish Crab

Murder Roadtrip: A True Crime Podcast

Play Episode Listen Later Oct 23, 2022 56:17


Calling all you crabs to our most chaotic episode yet! Shan and Troy are joined by their college pal Hannah and she tells us a story that is very near and dear to her heart. Troy has an unnamed segment this episode and Shan is just kinda here for comedic relief. We love spooky season! Follow us on Instagram, @murderroadtrippod; Email us your funny/spooky/whatever stories murderrt@gmail.com DISCLAIMER: This podcast contains explicit language & graphic descriptions of crime scenes. Listener discretion is advised. --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app

Real Estate Investing Abundance
REIA 215 Adam Craig: From residential rentals to commercial redevelopment - living investor dream

Real Estate Investing Abundance

Play Episode Listen Later Oct 21, 2022 19:44


Adam is the founding member of CLE Real Estate Group, a real estate investment company located just outside Cleveland, OH. After earning a B.A. in finance from Kent State University, Adam began to peruse his passion for real estate investing. Since 2013, Adam has closed more than 70 deals and accumulated a rental portfolio topping 8 million dollars in residential and commercial real estate. The key to ​Adam's success is a genuine passion and enthusiasm for real estate investing.Main Points:I grew up caddying at a golf course that helped shape my views on the world and what I hope to achieve Hiring contractors and things to look forThe difference between residential and commercial real estate investingManaging work and family and finding the right balanceThe importance of networking and how it has helped evolve my careerConnect with Chris:adam@clerealestategroup.com+1 (440) 223-5660http://www.cleinvest.com

Podcast Business News Network Platinum
6194 Jill Nicolini Interviews Leslie Williams Certified Residential Interior Designer and Owner of Leslie Jade Interior

Podcast Business News Network Platinum

Play Episode Listen Later Oct 21, 2022 28:12


Jill Nicolini Interviews Leslie Williams Certified Residential Interior Designer and Owner of Leslie Jade Interior -- Lesliejadeinterior.comhttps://onlineradiobox.com/search?cs=us.pbnnetwork1&q=podcast%20business%20news%20network&c=ushttps://mytuner-radio.com/search/?q=business+news+networkhttps://streema.com/radios/search/?q=podcast+business+news+network

The Note Closers Show Podcast
Episode 704 | Navigating The Commercial And Residential Lending Markets With Mortgage Experts, Krystle Moore And Kenny Simpson

The Note Closers Show Podcast

Play Episode Listen Later Oct 20, 2022 50:06


We see so many changes in the mortgage markets that it can be tough to keep up. Fortunately, Scott Carson has not only one but two guests who can provide us with a great view of the residential and commercial lending markets. On this episode, Scott interviews Krystle Moore and Kenny Simpson from the Get In the Cashflow Game podcast. They are both lending experts with more than nineteen years of lending experience. Krystle and Kenny share their insights into the current mortgage markets, where they think the market is heading, and where opportunities lie for investors in and outside of the southern California markets. With this crazy market we're currently in, you better tune in to this conversation and gain insights to navigate and thrive through the changes!Love the show? Subscribe, rate, review, and share!Here's How »Join the Note Closers Show community today:WeCloseNotes.comThe Note Closers Show FacebookThe Note Closers Show TwitterScott Carson LinkedInThe Note Closers Show YouTubeThe Note Closers Show VimeoThe Note Closers Show InstagramWe Close Notes Pinterest

Talking Home Renovations with the House Maven
Learning from the Mistakes of Others, episode 4 Redux

Talking Home Renovations with the House Maven

Play Episode Listen Later Oct 19, 2022 35:48 Very Popular


2 years ago, Michele Hottel joined me to give advice to homeowners so that they could learn from the mistakes of others. As I reflected on the past three years in the week of my podiversary, I listened again to this episode and wanted to revisit it. We talked about renovating while pregnant, building too much space, rising construction costs and more. About our guest: Michele Grace Hottel, Architect is a firm practicing Architecture, Interiors, and Visual Arts, specializing in Custom and multi-family Residential and smaller Commercial and Institutional projects since 1994. Prior to her current practice, Michele was a consultant with other Architecture and Engineering firms in the Los Angeles and San Diego areas for twelve years before and after attending Cal Poly, Pomona for Architecture. One can read her blog, "I've never met a woman architect before..." a blog about my life... , the trials and tribulations, as one could say, of being a woman, a mother, a wife, a volunteer, a public servant, and last but not least, an architect. Michele is also a Commissioner and Subject Matter Expert for the California Architects Board, a City of La Mesa Planning Commissioner in her third term, the Chair of the American Institute of Architecture (AIA) Chair of the Custom Residential Architecture Network (CRAN) for the AIA San Diego and Palomar Chapters. She also served as the Chair of the Committee for AIA California's Inaugural Housing Forum for attainable housing. In addition, Michele served on the Board and Past President of the La Mesa Arts Alliance, served as a La Mesa Parks and Recreation Board Member, a La Mesa Centennial Planning Committee member and lead the Centennial Legacy Project Subcommittee. ********************************************************************************************* Thanks so much for being with us this week.  Please see the episode enhancement for this and other episodes athttps://www.talkinghomerenovations.com/ ( talkinghomerenovations.com) Do you have feedback you would like to share?  Would you like to be a guest on the podcast?  Email me at thehousemaven@talkinghomerenovations.com If you enjoyed this episode, please share it with your friends Don't forget to subscribe to the show and get automatic updates every Wednesday morning with the latest episode of Talking Home Renovations with the House Maven.   Clickhttp://eepurl.com/gFJLlT ( here) to get the episode enhancements sent directly to your inbox every week. Reviews and ratings help my show gain traction and credibility.  Please leave a review here-https://podcasts.apple.com/us/podcast/talking-home-renovations-with-the-house-maven/id1481716218 ( https://podcasts.apple.com/us/podcast/talking-home-renovations-with-the-house-maven/id1481716218) Visithttps://my.captivate.fm/www.Talkinghomerenovations.com ( Talkinghomerenovations.com) for episode enhancements, containing photos and more information about the episodes as well as transcripts.  There you can leave a voice message through speak pipe that could be included in a future episode. Follow me on instagram: @talkinghomerenovations Join me on Facebook: Talking Home Renovations Follow me on Twitter: @talkinghomereno Join me on TikTok: @The House Maven Talking Home Renovations with the House Maven is part of Gabl Media, the largest, most engaged AEC network on the planet.  Visit http://www.gablmedia.com/ (www.Gablmedia.com) for great content.  Sign up for the weekly newsletter- I send out the episode enhancements every Wednesday morning, http://eepurl.com/gFJLlT (  sign up here) Music at the beginning and end of the episode is The House Maven's Jig, written and performed by Neil Pearlman, https://neilpearlman.com/ (www.neilpearlman.com) Show Cover Art by Sam Whitehttp://www.samowhite.com/ ( www.samowhite.com) This podcast is a production of dEmios Architects.http://www.demiosarchitects.com/ ( www.demiosarchitects.com)

Well-Being: A Boundless Podcast
Ep 22: Never let people down: Residential care that's truly caring

Well-Being: A Boundless Podcast

Play Episode Listen Later Oct 19, 2022 23:57 Transcription Available


Relentless Positivity Podcast
Hilarious Stories From The Giants Of Comedy With Scott Edwards

Relentless Positivity Podcast

Play Episode Listen Later Oct 18, 2022 36:20


If you are a fan of stand-up comedy, you are in for a treat. My guest in this episode is Scott Edwards and over the years he has worked with many of the giants of comedy, including: Jay Leno, Jerry Seinfeld, Bob Saget, Dana Carvey, among others. If nothing else, you HAVE to listen to his story about what Gary Shandling did in the bathroom with 18 other people. Scott was so gracious and tells amazing, behind-the-scenes stories about some of the funniest people of all time. I had such a great time and I know you will too! Be sure to check out more of Scott's stories on his podcast Stand Up Comedy "Your Host and MC" here: https://standupcomedyyourhostandmc.com/podcast-show-player And also check out the newly launched Comedy Podcast Network. So much great content in this thing: https://standupcomedypodcastnetwork.com/ Please support my sponsors! I know them all personally and can vouch for their integrity and quality. -Apparel Lab for all your shirts, hats, mugs hoodies, or WHATEVER you want to put your logo or ideas on! Go check out their website at https://apparellab.ink/ -For website design, graphic design, internet marketing, and more check out McWilliams Marketing at http://www.McWilliamsmarketing.com -Use Patnaik Realty for ANY real estate needs you have. I mean anything! Residential, commercial, property management, investments, acquisitions. He does it all. Call Teek at 256-694-0117 or e-mail him at Teek@PatnaikCo.com -Get your child caught up on their school math with Mathnasium of Madison. Their website is http://www.mathnasium.com/madisonal -Go check out my Amazon Best Selling Book "Relentless Positivity"- https://cutt.ly/Nj7jqNN --- Send in a voice message: https://anchor.fm/relentlesspositivity/message

Tech Nest: The Real Estate and Tech Show
Modernized Accounting Platform for Residential Landlords with Logan Ransley, Co-founder of Landlord Studio

Tech Nest: The Real Estate and Tech Show

Play Episode Listen Later Oct 18, 2022 47:15


As the story goes with many products, someone got tired of dealing with the same problems, they searched the market for what they believed should be a product to solve the problem, only to discover there was not an adequate solution. So instead of allowing the problem to persist, they built the product themself. That's sort of the story here with Landlord Studio. Today I'm joined by Co-founder, Logan Ransley. He's breaking down some of the common problems residential landlords face every day when it comes to managing their finances. It can be simple keeping track of one rental, but when you start building your portfolio, problems multiple and this can cost an investor lots of time and money. Landlord Studio is unique in that they're not just focused on the US market. With a presence in Europe and Australia, as well as the US, Landlord Studio has focused on building a platform that can meet the investor where they're at. Equally as unique, the company has had a mobile-first mentality from the start—making Landlord Studio one of the few options available that give residential investors the accounting tools they need on the go.More about Landlord Studio and LoganLandlord studio is designed specifically for residential landlords with between 1 and 25 rental properties. It simplifies and automates the process of collecting and reconciling rental income and expense transactions. With automated bank feeds, an intelligent receipt scanner, and expense categories that align perfectly with the IRS tax forms, Landlord Studio radically improves the quality and the timeliness of the bookkeeping process, making it infinitely easier at tax time.In addition to providing accountancy support, Landlord Studio helps landlords maximize the ROI on their property investments with a suite of management features such as online rent collection, tenant screening, listings, document storage, reporting, and maintenance tracking. All features are available on both desktop and mobile and are easy to use, making adoption simple for anyone with a smartphone.Logan Ransley is the Co-Founder of Landlord Studio. He is also an official member of the Forbes Real Estate Council. Connect with Logan on LinkedIn Follow Landlord Studio on Twitter Check out Landlord Studio

Eat, Sleep, Invest
EP 50: Greg Dickerson - Serial Entrepreneur Sharing Residential And Commercial Real Estate Tips

Eat, Sleep, Invest

Play Episode Listen Later Oct 17, 2022 32:26


Welcome to Eat, Sleep, Invest. In this episode, Bryan Driscoll talks with Greg Dickerson. Greg has done a little bit of everything as a self-proclaimed serial entrepreneur. After serving in the Navy, he started and sold 12 businesses in various industries, including construction. He learned the hard way by working with other investors and professionals to work toward his goals as they changed. Greg is a problem-solver and loves the creative process it takes to figure out how to start something from the ground up. He also renovates old buildings and enjoys the challenge they bring. Now he spends his time mentoring other real estate developers and entrepreneurs to give them the tools they need to succeed. Bryan and Greg talk about: Greg's work flipping houses, renovating beach houses, and building spec houses The hard-earned lessons learned from bad deals How tying up the land is where the profit is Greg's love of building and developing things and letting others take it from there The importance of changing your strategy as the conditions of the market change, like how Greg's strategy with beach houses changed after 2009 Greg's courses on how to become an entrepreneur, raising capital, and the kind of company you need to do what you want to do Examples of the clients Greg has been able to help and the scope of what he was able to do How real estate hasn't changed as much as recent trends make it seem The reasons to stay out of long-term deals right now How one idea can change your whole life and trigger great new things Learn more: https://www.youtube.com/c/agregdickerson/videos https://www.dickersoninternational.com/  

The Autism Dad Podcast
Acute Residential Care: What You Need To Know (feat. Dr. Brandon Clark) S5E43

The Autism Dad Podcast

Play Episode Listen Later Oct 17, 2022 21:58 Transcription Available


Today's episode is based on a listener request, and it's all about acute residential care. My guest is Brandon Clark, PsyD. Brandon is the clinical director at Springbrook Autism Behavioral Health and is here to answer parent questions about acute residential care. Guest Bio:Brandon Clark is a Board Certified Behavior Analyst and the clinical director at Springbrook Autism Behavioral Health. He has a doctorate degree in psychology with an emphasis in industrial/organizational theory. He enjoys implementing behavior strategies to improve system-based processes and make organizational advancements.   Brandon began his career in the field of Applied Behavior Analysis in 2010. Since then, he has worked in treatment schools, private settings, crisis intervention settings, day program facilities, and owned a private practice for several years. For more information, click https://springbrookbehavioral.com/ (here) Host Bio:Rob Gorski is a single Dad to three amazing autistic boys and Found and CEO of The Autism Dad, LLC. Multiple award-winning blogger, podcaster, content creator, digital marketer, social media influencer, and respected public figure for well over a decade. Connect with Rob Gorski: https://listen.theautismdad.com/ (https://listen.theautismdad.com) Mentioned in this episode: Learn More About Bened Life Bened Life supports a neuroinclusive community with education and science-backed probiotics that promote mental and physical health. Bened Life prides itself on hiring neurodivergent staff that helps to run multiple facets of their business. Their medical probiotic, Neuralli, featuring the probiotic PS128, has already helped thousands of neurotypical and neurodivergent people worldwide. Learn more by going to benedlife.com. Use the code "theautismdad" at checkout for 20% off your first order. https://theautismdad.captivate.fm/benedlife (Visit Bened Life)

Mainstreet Halifax \x96 CBC Radio
Residents concerned about police chase in residential neighbourhood

Mainstreet Halifax \x96 CBC Radio

Play Episode Listen Later Oct 17, 2022 12:32


The driver of a stolen vehicle is facing multiple charges after Halifax chased him through a residential area yesterday afternoon. Some residents have expressed concerns on social media about reports of police cruisers driving at high speeds, up on lawns, without sirens or flashing lights. We hear from some of them, as well as Councillor Shawn Cleary.

Hvac Uncensored
HVAC Uncensored Talks To Bluon Tech Support 3

Hvac Uncensored

Play Episode Listen Later Oct 17, 2022 92:04


In this episode of the HVAC Uncensored Podcast Gil talks with two more of the amazing Tech Support guys at Bluon. I talk to Mark Manger and Vinny Lopez. We go over their background in the industry and what lead them to Bluon. We cover several topics from big commercial which is Mark's specialty and Residential which is Vinny's. Such a great episode talking with these guys. Hopefully lets everyone know some of the amazing people on the other end of the phone when you call Bluon Tech Support!!!! Download the Bluon App for free in your App Store or go to www.bluon.com  Stay Up To Date With Podcast By Following On Social Media Youtube www.youtube.com/c/hvacuncensored Facebook www.facebook.com/hvacuncensored Instagram www.instagram.com/hvacuncensored Check Out The Show Sponsors/Partners Bluon www.bluon.com CompanyCam www.companycam.com/hvacuncensored Get a FREE 14 Day Trail then 50% Off your first 2 months Yellow Jacket www.yellowjacket.com Chiirp www.chiirp.com/hvacuncensored Get 50% OFF your first 3 months Service Rocket www.callprofitrocket.com    

The Afterword: A Conversation About the Future of Words
The Afterword on Real Estate part 2

The Afterword: A Conversation About the Future of Words

Play Episode Listen Later Oct 17, 2022 26:12


While there are no crystal balls when it comes to financial markets, we can look at historical data. In 2008- the real estate market went into a tailspin. How can we be responsible with investments in real estate and learn from some of the lessons in the past? Patti Murphy  award winning realtor with Long and Foster and  Matt Carter, a top commercial and industrial real estate broker with C. Dan Joyner in South Carolina, share that learning from the past benefits all who want to step into the real estate market. Maximizing our investments responsibly is vital when stepping into the real estate world. Making sure to access the insight and wisdom of an experienced, professional realtor is a vital step our guests say give us a collaborative edge.

Profit Is A Choice
How to Use Niching and Systems to Grow Your Business

Profit Is A Choice

Play Episode Listen Later Oct 17, 2022 55:12


208: How to Use Niching and Systems to Grow Your Business with Carolyn Boldt Today on the podcast we have Carolyn Boldt. Carolyn is passionate about holistic health and wellness and has crafted a business that focuses on designing in these industries. There are so many good takeaways in this podcast and Carolyn really has a heart to share and teach. Listen in as she shares the journey to focus on a niche that she loved and how it has prompted a different way to scale. Topics Mentioned: Niche System Strategy Space Key Thoughts:   We could say we ran a business, but we just owned our job. Carolyn Boldt (13:22)    You can't be all you have to graduate up. Which is why a lot of us talk about now and scaling, having the CEO somebody to do operations in management and then the technicians to execute. Michele (14:23)    Residential design is very much about the human being in the space. How do I want to feel in the space? How do I want to represent myself to my friends, etc. In business, it has to be about the return on investment. Carolyn Boldt (23:15)    We began to see the elements that we needed to scale. We needed to create a system of the design process, which all the design processes go through and then create a system, so that our deliverables basically are the same. The designs are different, but the process is the same. Carolyn Boldt (30:01)    The one thing that I would recommend is when we're looking to hire, the question is do you have time to train and to give this person the opportunity to ramp up? If you do not have that you do better to hire more experience to get it done. Michele (42:07)      Contact Michele: Email: Team@ScarletThreadConsulting.com Facebook: Scarlet Thread Consulting Instagram: @ScarletThreadATL Website: ScarletThreadConsulting.com LinkedIn: Michele Williams Contact Carolyn: Website: chiropracticofficedesign.com Facebook: CrossFields Pinterest: @CrossFields Instagram: @crossfields_chiro_design Twitter: @chirofficedesign LinkedIn: CrossFields-Inc Email: cboldt@crossfieldsinc.com References and Resources: Work with Me E-Myth Revisited by Michael Graber Megabundle Offer For Profit Is A Choice Podcast With Michele Williams

The Jefferson Exchange
Report finds inequities in California's residential electric charges

The Jefferson Exchange

Play Episode Listen Later Oct 14, 2022 18:24


Meredith Fowlie, the Faculty Director at the University of California's Energy Institute at Haas, finds that the additional charges for electricity fall more heavily on low-income households, like a regressive tax. Noel Perry from the nonprofit Next 10 joins the conversation.

Find Your Spark
146: Igniting the SPARK with Selah Freedom Survivors

Find Your Spark

Play Episode Listen Later Oct 14, 2022 25:58


In this episode, with Nicole Wilson and Selah Freedom's Assessment Coordinator, Angelea Valenti, they explore the partnership that SPARK and Selah have shared for over 7 years together. Angelea shares the impact of SPARK and her personal story being a Selah graduate and going through the SPARK program years ago when we first started our partnership. Nicole shares some of her experiences leading the weekly meetings and why it's so important to continue doing this work with Selah Freedom. Selah Freedom is a nonprofit anti-human trafficking organization, based in Florida and the Midwest, with the mission to end sex trafficking and bring freedom to the exploited through five strong programs: Awareness, Prevention, Outreach, Residential and Organizational Consulting. Tune in to hear something new and bring awareness around how to end sex trafficking. If you see any signs of sex-trafficking, please call the Selah Freedom hotline at 1-888-8FREEME (1-888-837-3363.)

Sans The Sugarcoat, Our Autism Journey
S5: Episode 5: Housing Decisions: Know your Residential Rights

Sans The Sugarcoat, Our Autism Journey

Play Episode Listen Later Oct 13, 2022 46:02


Today we are chatting about our Hard Housing decisions series. First, know your rights.  Here in California https://www.disabilityrightsca.org/publications/rights-in-adult-residential-facilities   Check with your local disability rights office for more information in your area. We are not professionals, we are parents sharing information.  Also mentioned on the podcast : Take me Home Program https://www.sdsheriff.gov/community/take-me-home-registry Podcast Season 4 Episode: 13 If I need Help   https://ifineedhelp.org/ Podcast Season 2 Episode: 7   _____________________ We would love a review on Apple Podcast, Spotify or Audible If you have any question, would like to be a guest: Contact us -  email:  inclusion@autismmastermind.co https://www.autismmastermind.co/ IG, FB, YouTube @autismmastermind  

Passive Income Unlocked
319. How To Overcome Challenges In The Residential Market With Ken Van Liew

Passive Income Unlocked

Play Episode Listen Later Oct 12, 2022 31:20


Ken Van Liew is the #1 international bestselling author of the Modern Wealth Building Formula, an educator, engineer, and public speaker, and a world-renowned authority on Real Estate Investment and Development. One of Ken's most recent accomplishments is approving the largest project in Franklin County, NC history. He created the Modern Wealth Building Formula Coaching Program and the Global Real Estate Investment Enterprise, the world's highest real estate education and training level. He sincerely helps people achieve their financial goals and freedom, business success, real estate, and dreams in life.    In this episode, Ken discusses how he started off by buying a toy building on 6th Avenue and then went on to buy St. Vincent's Hospital and had mezzanine loans with Lehman Brothers. However, everything fell apart overnight when the financial crisis hit and he had to come back from bankruptcy. He is a successful real estate investor who has used various principles of personal development, including the teachings of Tony Robbins, to build his wealth. He describes how he came up with the modern wealth-building formula, which is a system that emphasizes wisdom, bold leadership, and forward-thinking. For more information about Ken Van Liew, go to: https://kenvanliew.com/!   [00:01 - 02:04] Opening Segment   Ken shares his background in civil engineering and started his professional career with a 6-figure debt and a burning desire to serve others His success comes from his ability to build relationships and work with people He credits his education and experience in construction with helping him succeed in real estate investing     [02:05 - 14:13] How To Overcome Challenges In The Residential Market Ken describes his journey from civil engineer to development executive, and how it led him to develop a mindset for success in the residential market He credits his education and networking opportunities with helping him to succeed in the development industry He describes how he was able to use vertical innovation (merging ecosystems) to overcome challenges in the residential market Creating the “Modern Wealth Building Formula”, which is a system of principles that help build wealth   [14:14 - 22:24] Utilizing The Modern Wealth Building Formula Ken uses the principles in his books which are: Massive action Wisdom Bold Leadership He uses the principles to find and invest in real estate deals, and he teaches others how to do the same His book covers residential, commercial, and development   [22:25 - 31:19] Closing Segment Ken is currently writing a book and shooting videos to share his knowledge with the world Ken shares where you can get in contact with him (links below) Quote/s: “I emphasize the importance of building a dream team and how you can accomplish anything you put your mind to it.” – Ken Van Liew You can connect with Ken through his: Website: Ken Van Liew Facebook: Ken Van Liew Instagram: Ken Van Liew LinkedIn: Ken Van Liew Twitter: Ken Van Liew Pinterest: Ken Van Liew YouTube: Ken Van Liew TikTok: Ken Van Liew WANT TO LEARN MORE?   Connect with me through LinkedIn   Or send me an email at sujata@luxe-cap.com   Visit my website www.luxe-cap.com or my YouTube channel   Thanks for tuning in!   If you liked my show, LEAVE A 5-STAR REVIEW, like, and subscribe!

How to Invest in Commercial Real Estate
Episode #081- Why You Should LEVEL UP From Residential to Commercial Real Estate Investing!

How to Invest in Commercial Real Estate

Play Episode Listen Later Oct 11, 2022


Today hosts Braden Cheek, Brian Duck and Joel Thompson discuss the pros & cons of residential and commercial real estate in an episode you don't want to miss! Time Stamps: 0:00 - Introduction 1:28 - The joys of CRE: someone crashed into our building! 2:43 - Why aren't more people in commercial real estate? 4:48 - What is an asset? What is a liability? 6:29 - Reframe how you think about CRE! 12:25 - Is residential real estate HARDER than commercial? 14:55 - In conclusion... *Be Sure to check us out on Spotify and Apple Podcasts for the Audio version of today's episode!** https://open.spotify.com/show/08KmNvqGV5HjmHUC8fLuce https://podcasts.apple.com/us/podcast/how-to-invest-in-commercial-real-estate/id1543470290?itsct=podcast_box&itscg=30200 Links mentioned in this episode: www.TheCriterionFund.com www.HowToInvestInCRE.TV Invest.HowToInvestInCRE.com To sign up for our exclusive investor list, click below. https://www.thecriterionfund.com/join-our-investor-list

Japan Real Estate
First Market Entry - Investing in Japanese Residential Properties

Japan Real Estate

Play Episode Listen Later Oct 11, 2022 46:31


A conversation with a seasoned US based real estate professional & investor, about to take his first steps in Japan's property market. We talk strategy, yields, locations, financing, cultural differences, and much, much more...

Relentless Positivity Podcast
From Alcoholic To Recovery Advocate

Relentless Positivity Podcast

Play Episode Listen Later Oct 11, 2022 42:45


"I am just so sick and tired of you getting drunk every night for no reason." "I am too." Those three words changed Karen Petersen's life and the life of many others. In this episode, she freely shares her journey from struggling with alcohol to being a champion for helping others in recovery. Karen is a truly amazing person and I am very grateful for her coming on and sharing so openly and honestly. Plus she just celebrated 20 years of sobriety! The work she and the team at Wellstone Inc are doing is simply amazing and they are going to change the face of recovery in Huntsville and beyond. Learn more about what Wellstone Inc is doing here: https://wellstone.com/ Please support my sponsors! I know them all personally and can vouch for their integrity and quality. -Apparel Lab for all your shirts, hats, mugs hoodies, or WHATEVER you want to put your logo or ideas on! Go check out their website at https://apparellab.ink/ -For website design, graphic design, internet marketing, and more check out McWilliams Marketing at http://www.McWilliamsmarketing.com -Use Patnaik Realty for ANY real estate needs you have. I mean anything! Residential, commercial, property management, investments, acquisitions. He does it all. Call Teek at 256-694-0117 or e-mail him at Teek@PatnaikCo.com -Get your child caught up on their school math with Mathnasium of Madison. Their website is http://www.mathnasium.com/madisonal -Go check out my Amazon Best Selling Book "Relentless Positivity"- https://cutt.ly/Nj7jqNN --- Send in a voice message: https://anchor.fm/relentlesspositivity/message

Springfield's Talk 104.1 On-Demand
Nick Reed PODCAST 10.10.22 - Mitch Jenkins with the Galloway Project

Springfield's Talk 104.1 On-Demand

Play Episode Listen Later Oct 10, 2022 14:45


Hour 3b -  Mitch Jenkins joins Nick Reed this morning to talk about the Galloway Project: In November, voters will see 'Question One' on the ballot. Question One is worded, "Shall the City of Springfield amend the Springfield Land Development Code, Section 36-306, 'Official zoning map and rules for interpretation,' by rezoning 4.2 acres of property, generally located at 3503, 3521, 3527, and 3535 South Lone Pine Avenue from R-SF, Single-family Residential, GR, General Retail, and LB, Limited Business District to Planned Development No. 374; and adopt an updated Official Zoning Map?" Mitch explains what a 'yes' vote would mean. What exactly would be developed? For more information on the development, click here.