Nate Cater is based in Los Angeles. His company is PHOCIS which specializes in providing escrow services for smaller independent private lenders. The value proposition is to save on escrow fees.

As always, perform your own due diligence. Request state-by-state escrow or money transmitter licenses.
Ask for copy of regulatory compliance policy and legal opinion on FBO structure. Request a tri-party or bank confirmation letter confirming the FDIC-insured FBO account setup with Wells Fargo or secondary banking partner.

To connect with Nate, visit https://phocistech.com/

------------

**Real Estate Espresso Podcast:**
Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1)
iTunes: [The Real Estate Espresso Podcast](https://podcasts.apple.com/ca/podcast/the-real-estate-espresso-podcast/id1340482613)
Website: [www.victorjm.com](http://www.victorjm.com)
LinkedIn: [Victor Menasce](http://www.linkedin.com/in/vmenasce)
YouTube: [The Real Estate Espresso Podcast](http://www.youtube.com/@victorjmenasce6734)
Facebook: [www.facebook.com/realestateespresso](http://www.facebook.com/realestateespresso)
Email: [podcast@victorjm.com](mailto:podcast@victorjm.com)
**Y Street Capital:**
Website: [www.ystreetcapital.com](http://www.ystreetcapital.com)
Facebook: [www.facebook.com/YStreetCapital](https://www.facebook.com/YStreetCapital)
Instagram: [@ystreetcapital](http://www.instagram.com/ystreetcapital)

Anton Mattli is the founder of Peak Financing, based in Dallas Texas. Anton got his start in banking in Switzerland and held global commercial bank positions in NY, and in Asia before launching Peak Financing.

On today's show we are talking about the state of the market and which segments are seeing the most activity.

To connect with Anton, visit https://www.peakfinancing.com/home-338322. You can reach him directly at anton@peakfinancing.com.

-----------

**Real Estate Espresso Podcast:**
Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1)
iTunes: [The Real Estate Espresso Podcast](https://podcasts.apple.com/ca/podcast/the-real-estate-espresso-podcast/id1340482613)
Website: [www.victorjm.com](http://www.victorjm.com)
LinkedIn: [Victor Menasce](http://www.linkedin.com/in/vmenasce)
YouTube: [The Real Estate Espresso Podcast](http://www.youtube.com/@victorjmenasce6734)
Facebook: [www.facebook.com/realestateespresso](http://www.facebook.com/realestateespresso)
Email: [podcast@victorjm.com](mailto:podcast@victorjm.com)
**Y Street Capital:**
Website: [www.ystreetcapital.com](http://www.ystreetcapital.com)
Facebook: [www.facebook.com/YStreetCapital](https://www.facebook.com/YStreetCapital)
Instagram: [@ystreetcapital](http://www.instagram.com/ystreetcapital)

On today's show, we're talking about a sneaky regulatory change that could cost your next development project tens of thousands of dollars.

If you've built, flipped, or remodeled a property in the last thirty years, you know the drill. When you design a kitchen island or a peninsula, the electrical code required you to install at least one electrical outlet on the island or the peninsula. For decades, the standard practice was simple and cheap: you had your electrician cut a standard wall outlet into the side of the cabinetry, just beneath the countertop overhang. It cost maybe ten bucks in parts and a few minutes of labor.

But if you're pulling permits under the new 2023 National Electrical Code, you're in for a rude awakening. Those cheap, side-mounted outlets are now strictly prohibited. They have been entirely banned.

Why the sudden change? It all comes down to safety data. The Consumer Product Safety Commission analyzed emergency room reports from 1991 to 2020. They found a disturbing trend of severe injuries and burns—particularly involving young children. What was happening is that people were plugging heavy appliances—like slow cookers, hot plates, and blenders—into these side-mounted island outlets. The power cords would drape over the edge of the counter. A toddler walking by would grab the cord, give it a tug, and pull a crockpot full of boiling hot soup onto themselves.

The new code does allow for top-mounted, pop-up outlets installed directly into the surface of the island. However, these aren't your standard five-dollar hardware store outlets. Because they are mounted horizontally on a kitchen counter, they must be highly specialized, UL-listed, spill-proof, and water-resistant assemblies tested to withstand spills. A single unit can cost anywhere from a hundred and fifty to three hundred dollars. Add in the cost of having your stone fabricator precision-cut a hole in your granite or quartz slab, plus the specialized electrician labor to wire it, and you're easily looking at four to five hundred dollars per island.

-------------

**Real Estate Espresso Podcast:**
Spotify: [The Real Estate Espresso Podcast](https://open.spotify.com/show/3GvtwRmTq4r3es8cbw8jW0?si=c75ea506a6694ef1)
iTunes: [The Real Estate Espresso Podcast](https://podcasts.apple.com/ca/podcast/the-real-estate-espresso-podcast/id1340482613)
Website: [www.victorjm.com](http://www.victorjm.com)
LinkedIn: [Victor Menasce](http://www.linkedin.com/in/vmenasce)
YouTube: [The Real Estate Espresso Podcast](http://www.youtube.com/@victorjmenasce6734)
Facebook: [www.facebook.com/realestateespresso](http://www.facebook.com/realestateespresso)
Email: [podcast@victorjm.com](mailto:podcast@victorjm.com)
**Y Street Capital:**
Website: [www.ystreetcapital.com](http://www.ystreetcapital.com)
Facebook: [www.facebook.com/YStreetCapital](https://www.facebook.com/YStreetCapital)
Instagram: [@ystreetcapital](http://www.instagram.com/ystreetcapital)