Podcasts about Mike Webster

Alissa Coram and Mike Webster analyze Friday's market action and discuss key stocks to watch on Stock Market Today.

Alissa Coram and Mike Webster analyze Friday's market action and discuss key stocks to watch on Stock Market Today.

Alissa Coram and Mike Webster analyze Friday's market action and discuss key stocks to watch on Stock Market Today.

Alissa Coram and Mike Webster analyze Friday's market action and discuss key stocks to watch on Stock Market Today.

Alissa Coram and Mike Webster analyze Friday's market action and discuss key stocks to watch on Stock Market Today.

Alissa Coram and Mike Webster analyze Friday's market action and discuss key stocks to watch on Stock Market Today.

Alissa Coram and Mike Webster analyze Friday's market action and discuss key stocks to watch on Stock Market Today.

Justin Nielsen and Mike Webster analyze Friday's market action and discuss key stocks to watch on Stock Market Today.

Alissa Coram and Mike Webster analyze Friday's market action and discuss key stocks to watch on Stock Market Today.

Alissa Coram and Mike Webster analyze Friday's market action and discuss key stocks to watch on Stock Market Today.

Alissa Coram and Mike Webster analyze Friday's market action and discuss key stocks to watch on Stock Market Today.

Alissa Coram and Mike Webster analyze Friday's market action and discuss key stocks to watch on Stock Market Today.

Alissa Coram and Mike Webster analyze Friday's market action and discuss key stocks to watch on Stock Market Today.

Ed Carson and Mike Webster analyze Friday's market action and discuss key stocks to watch on Stock Market Today.

Justin Nielsen and Mike Webster analyze Friday's market action and discuss key stocks to watch on Stock Market Today.

Alissa Coram and Mike Webster analyze Friday's market action and discuss key stocks to watch on Stock Market Today.

Justin Nielsen and Mike Webster analyze Friday's market action and discuss key stocks to watch on Stock Market Today.

Alissa Coram and Mike Webster analyze Friday's market action and discuss key stocks to watch on Stock Market Today.

Alissa Coram and Mike Webster analyze Friday's market action and discuss key stocks to watch on Stock Market Today.

Alissa Coram and Mike Webster analyze Friday's market action and discuss key stocks to watch on Stock Market Today.

Justin Nielsen and Mike Webster analyze Friday's market action and discuss key stocks to watch on this extended version of Stock Market Today.

Mike Webster and Alissa Coram walk through this week's technical action and stocks to watch in the Friday extended version of Stock Market Today.

Mike Webster and Justin Nielsen walk through this week's technical action and stocks to watch in the Friday extended version of Stock Market Today.

Mike Webster and Justin Nielsen walk through this week's technical action and stocks to watch in the Friday extended version of Stock Market Today.

What is killing young athletes at the peak of physical performance? A medical bank of over 1,000 brains and 30 years of study shine a spotlight on the cause  Dr Ann McKee is a world-renowned neurologist and the Director of Boston University's CTE and Alzheimer's Disease Research Centres. She leads groundbreaking research on the fatal neurodegenerative disease known as Chronic Traumatic Encephalopathy (CTE). In this conversation, Dr Ann and Steven discuss topics such as, the devastating symptoms of CTE, how young athletes are at risk of CTE, why the NFL are keeping the disease a secret, and the health risks of heading a football.  00:00 Intro 02:14 Ann McKee's Mission on CTE 03:37 What Is CTE? 05:05 Sports Most Likely to Cause CTE 06:06 How Fragile Is the Human Brain? 06:41 What Ann McKee Does in Her Research 07:15 The First Time Ann Saw a Brain with CTE 10:39 How Many Athletes Have CTE? 12:26 How CTE Affects Daily Life 13:58 Young Athletes Impacted by CTE 14:33 Wyatt Bramwell's Story: A Tragic Case of CTE 18:08 When Do Signs of CTE First Appear? 21:21 How Does CTE Develop in the Brain? 23:48 Jeff Astle: CTE in Soccer 24:45 Challenges in Raising Awareness About CTE 27:42 The NFL's Contact With Ann McKee 28:17 The NFL's Early Reactions to CTE 30:01 The Impact of CTE on Families 30:29 Why Ann McKee Cares About the Families 32:26 The Pressure of Studying CTE 32:58 The NFL's Shift on CTE and Lawsuits 34:36 Owain Thomas: CTE Case Study 36:08 NFL Helmet Safety and CTE 37:51 The Four Stages of CTE Explained 40:22 Aaron Hernandez: The Link to CTE 44:28 Mike Webster's Battle with CTE 45:14 The Progress Ann McKee Wants to See in CTE Research 46:17 Do We Really Need Contact in Sports? 50:18 Preventing Alzheimer's Through Brain Health 53:16 Are Brain Diseases Like CTE Increasing? 53:46 How Inflammation in the Brain Worsens Diseases 56:50 Ann McKee's Advice for Parents of Young Athletes 58:22 Ann's Message to the NFL and Sports Organisations 59:33 The Final Question: What's Next for CTE Research? Follow Dr Ann:  Twitter - https://g2ul0.app.link/NF8SldoeUNb  Boston University's CTE Center - https://g2ul0.app.link/tXabKUpeUNb  You can view the brain scan of advanced CTE, here: https://linktr.ee/diaryofaceostudies  Watch the episodes on Youtube - https://g2ul0.app.link/DOACEpisodes  My new book! 'The 33 Laws Of Business & Life' is out now - https://g2ul0.app.link/DOACBook  You can purchase the The Diary Of A CEO Conversation Cards: Second Edition, here: https://g2ul0.app.link/f31dsUttKKb  Follow me: https://g2ul0.app.link/gnGqL4IsKKb  Linkedin Jobs - linkedin/doac ZOE - http://joinzoe.com with code BARTLETT10 for 10% off

Mike Webster and Alissa Coram walk through this week's technical action and stocks to watch in the Friday extended version of Stock Market Today.

Mike Webster and Alissa Coram walk through this week's technical action and stocks to watch in the Friday extended version of Stock Market Today.

Braves vs Mets in huge series, Phillies win NL East after laying down to Mets, Braves phenom, A's say goodbye to Oakland, Charlie Blackmon retiring with great quote, Falcons robbed by refs in Chiefs game, Kirk Cousins ties Dan Marino!? OL injuries, Wellness check on Travis Kelce, MNF, Commanders finally have their QB, Burrow 0-3, Josh Allen and Bills spank Trevor Lawrence and Jags, Christian McCaffrey's German doctor, Mercury Morris tribute, Bryce Young's career obit, Taylor Heinicke resurfaces, Dak Prescott no P.R. genius, Tom Brady's 5000th story about 28 to 3, Bulldogs vs Crimson Tide tweets, Hugh Freeze's totally horrible bad week as former QB calls him out, can you say Bobby Petrino Tigers fans? Pac 12 begs for teams, Pete Poll, Sooners need to stop dissing Vols, Mack Brown's embarrassing Saturday, Eli Gold, Army-Navy glory days, Sleepy Hollow High Headless Horsemen, C.J. Abrams gambling problem? White Sox worst ever, Huascar Ynoa sighting, Rocky Marciano, Lottie Dod, Jim McKay, John Mackey, Mean Joe Greene, Terry Metcalf and the old St. Louis Cardinals, Eddie George, Mike Webster, Babe Ruth's last game in pinstripes, Jimmie Foxx 500th, Ted Lyons joins Marines, Demorest's Johnny Mize has his day, last at-bat in Ebbets Field, Gil Hodges heart attack in Atlanta, Al Kaline 3000th, Dale Murphy exclusive club, Pedro "Who's your daddy?" Martinez, plus Pete's Tweets and quotes from Phils manager Eddie Sawyer and "North Dallas Forty" author Peter Gent 

Mike Webster and Alissa Coram walk through this week's technical action and stocks to watch in the Friday extended version of Stock Market Today.

Mike Webster and Justin Nielsen walk through this week's technical action and stocks to watch in the Friday extended version of Stock Market Today.

Mike Webster and Justin Nielsen walk through this week's technical action and stocks to watch in the Friday extended version of Stock Market Today.

Mike Webster and Alissa Coram walk through this week's technical action and stocks to watch in the Friday extended version of Stock Market Today.

Players were excited as pads finally came on at Steelers training camp. There was a fight at Steelers camp after Elandon Roberts landed a hit on Justin Fields. Should the Steelers add a WR after Roman Wilson suffered a scary  injury at camp? Did Russell Wilson's calf injury open the door for Justin Fields to fight for the QB1 spot. We also dive into Standout performances that are getting noticed at camp so far. Steelers add depth to already stacked Edge group by signing veteran Pass Rusher Markus Golden.Steel City Star segment where we discuss Mike Webster's Hall of Fame Induction that was skipped by the Rooney's for an Ireland game. Find out more about Steel City Star here: https://x.com/steelcitystar/status/1817292514384126429ChaptersIntro 0:00Fight at Training Camp! 5:30Steelers WR Roman Wilson 11:30Justin Fields Balling out? 16:35Steelers Training Camp Standouts 21:50Steelers add Markus Golden 27:45Mike Webster HoF Induction 35:25Tired of Offseason Football 41:30Wrap up 48:00 Where can you find us?Website: https://www.steelersrealm.com/Twitter: https://twitter.com/steelers_realmInstagram: https://www.instagram.com/steelersrealmpodcastFacebook: https://www.facebook.com/SteelersRealm/Facebook Group: https://www.facebook.com/groups/309257624690578Discord Server: https://discord.gg/QzASj8HASupport the Show.

Mike Webster and Alissa Coram walk through this week's technical action and stocks to watch in the Friday extended version of Stock Market Today.

Mike Webster and Justin Nielsen walk through this week's technical action and stocks to watch in the Friday extended version of Stock Market Today.

Mike Webster and Alissa Coram walk through this week's technical action and stocks to watch in the Friday extended version of Stock Market Today.

Mike Webster and Justin Nielsen walk through this week's technical action and stocks to watch in the Friday extended version of Stock Market Today.

Mike Webster, senior market strategist at IBD, joins Investor's Business Daily's “Investing with IBD” podcast to discuss the current market and explain the dangers of downside reversals. Plus, we take a look at some stocks worthy of your watchlist including CrowdStrike (CRWD), ServiceNow (NOW) and Amazon (AMZN). Learn more about your ad choices. Visit megaphone.fm/adchoices

Mike Webster and Alissa Coram walk through this week's technical action and stocks to watch in the Friday extended version of Stock Market Today.

Mike Webster and Alissa Coram walk through this week's technical action and stocks to watch in the Friday extended version of Stock Market Today.

Mike Webster and Alissa Coram walk through this week's technical action and stocks to watch in the Friday extended version of Stock Market Today.

Mike Webster and Alissa Coram walk through this week's technical action and stocks to watch in the Friday extended version of Stock Market Today. 

After a bearish reversal in Thursday's session, the stock market bucked the weakness and delivered a positive expectation breaker. How bullish should you be now? Mike Webster and Alissa Coram walk through this week's technical action and stocks to watch in the Friday extended version of Stock Market Today.

As Nvidia earnings loom large next week, the stock market is on the verge of delivering a powerful signal. Mike Webster and Alissa Coram walk through this week's technical action and stocks to watch in the Friday extended version of Stock Market Today.

As the market starts to trend above a key level, now is the time to take a more bullish stance. Mike Webster and Alissa Coram walk through this week's technical action and stocks to watch in the Friday extended version of Stock Market Today. 

With Friday's jobs report reigniting rate-cut hopes, along with positive reactions to earnings from Apple and Amgen, the Nasdaq composite decidedly cleared the 16,000 level. Mike Webster and Alissa Coram walk through this week's technical action and stocks to watch in the Friday extended version of Stock Market Today.

Turning down the volume. Mike Webster, senior market strategist at IBD, joins Investor's Business Daily's “Investing with IBD” podcast to explain why he thinks volume is problematic — and how he leverages insights from other chart elements to make buy, hold and sell decisions. Learn how doing your homework helps, the importance of price and why Inspire Medical Systems (INSP) and Cava (CAVA) are showing potential. Learn more about your ad choices. Visit megaphone.fm/adchoices

Dr. Mike Webster continues our series on the Book of 1st Samuel.

It's usually considered a selling rule but is in fact more of a holding rule. Mike Webster, senior market strategist at IBD, joins Investor's Business Daily's “Investing with IBD” podcast to discuss his rule for adjusting a core position in a winning stock, no matter the market. Learn how to use regression channels for markets and relative strength line moving averages to keep positions in winning names like Nvidia (NVDA) and Super Micro Computer (SMCI). Learn more about your ad choices. Visit megaphone.fm/adchoices

ResourceCheck Out Brit PropertiesReal Estate Marketing DudeThe Listing Advocate (Earn more listings!)REMD on YouTubeREMD on InstagramTranscript:So how do you attract new business? You constantly don't have to chase it. Hi, I'm Mike Webster, Real Estate Marketing Dave. And this podcast is all about building a strong personal brand. People have come to know like trust and most importantly, refer. But remember, it is not their job to remember what you do for a living. It's your job to remind them, Let's get started.00:06:09:10 - 00:06:30:05UnknownWhat's up? Ladies and gentlemen, welcome. Another episode of the Marketing Dude podcast. Folks, if you've been following last few weeks, the name of the game right now is thinking outside the box and doing things a little bit differently and opening your eyes to new things. There's lawsuits, there's all kinds of shit going on in the real estate industry, and whenever there's turmoil like this, there's also a lot of opportunity.00:06:30:05 - 00:06:45:19UnknownBut you have to be able to see it and take advantage of it because it's during the shifts that the people from nowhere make big names from themselves, and the ones who are big names end up drowning. And I like to bring a lot of different perspectives onto the show. So I don't know. This guy is from Chicago.00:06:45:20 - 00:07:06:18UnknownThis is two Chicago people in a row. So you're welcome. There's a reason why we're fucking awesome. It's because we work hard. Unlike the people in California. No offense taken. No, we're there. We're going to go out and introduce our guests today. We're going to be talking about industrial real estate, industrial investing. It's much different than what we've typically talked about.00:07:06:18 - 00:07:23:15UnknownDon't think we've ever had this on the show. So I'm excited to see where the conversation takes us today. So without further ado, let's go out and introduce our guests. Mr. Joel, Fred Friedman. FRIEDMAN How do I want to say it? Friedland. Friedland okay, I'm all right. Sorry. I did see the land at the end. Well, how are you doing it?00:07:23:15 - 00:07:43:16UnknownSay hello and now tell us a little bit about yourself. Sure. So I live in Chicago. I grew up in a suburb of Chicago called Highland Park. And when I was 22 years old, I graduated from the University of Michigan, by the way, two years there and before that, two years at San Diego State. So I love San Diego, where you live.00:07:43:18 - 00:08:11:06UnknownCongratulations on your championship. Thank you. Thank you. Big deal. Yeah. Yeah, it was awesome. So right after graduating, I wanted to get into real estate and I thought, I'm going to get into residential real estate because that's what I do. And a friend of mine introduced me to a family that owned a business called Podolski Podolski Family, and they owned 84 industrial buildings and we're looking for a leasing agent.00:08:11:08 - 00:08:39:13UnknownSo and a property manager. So I interviewed them on a Thursday and I started on Friday. And because I was, I think, a pretty good interviewer. Interviewee they hired me right away and said in 1981 interest rates were 17%. They had 84 buildings, ten of them were vacant, and they wanted me to figure out how to do the lease up of their vacant industrial buildings.00:08:39:13 - 00:09:08:21UnknownFirst of all, you have to understand what an industrial building is. An industrial building is is usually in the way they have industrial parks in every city and every town has them. In Chicago, there were 16,000 industrial buildings, but most people never even heard of it. An industrial is where warehousing takes place and distribution. So for today, the famous industrial tenant is Amazon.00:09:08:23 - 00:09:47:01UnknownAnd but every store has a warehouse. Every chain, every restaurant chain has a warehouse. And then there's manufacturing where every product if you look around in the background here at this place, everything the back in my background was made in an industrial building, manufactured or assembled. Your headphones, your hat, your microphone, your shirt, the computer, everything. An industrial, therefore, is really the backbone of the American economy as far as supply chain, logistics and creation of products.00:09:47:03 - 00:10:08:18UnknownI knew nothing about it. So it started out as an industrial real estate agent. I didn't even have a license. Did you ever need one then? In 81. yeah. yeah. And the Podolsky said, You need to go get a license. You're going to act as a broker. We're not going to tell anybody. I think the statute of limitations is up from 42 years ago.00:10:08:20 - 00:10:32:09UnknownSo you're you're saying about a license. We're going to find out if you're even worthy of backing you and having you go out and get a license. So we're going to see what you can do. So Mr. Podolsky, Steve Podolsky, who was my mentor, told me to get in my car and drive to industrial parks and look around and figure out what industrial is.00:10:32:11 - 00:10:56:21UnknownAnd it was summertime and the weather was beautiful and I knew they had vacant buildings. So I drove to a town where they had a number of vacancies called Schiller Park. Where Airport? Yeah, I parked my car on the street in an industrial park and I just started going door to door to companies like big companies where they have 30 employees or 50 or 100 employees.00:10:56:23 - 00:11:19:05UnknownAnd I walked door to door into each building and I'd walk in. And at that time there were receptionists. There's always a receptionist. They were the people who answered the phone and greeted people. And I'd walk up to the receptionist and I'd say, Who do I talk to about whether you guys might want to move your company to a building that's available a block away?00:11:19:07 - 00:11:46:01UnknownAnd I had a stack of fliers with me that had the pictures of the buildings and all the specifications, and by doing that, I actually found tenants who were looking to move. It was a really rough time though. In 1991, there was a really bad recession. It was similar to how it felt in 2008. Yeah, real bad. And people who aren't as old as I am don't remember that because they weren't there.00:11:46:03 - 00:12:12:01UnknownAnd then there was another recession, by the way, in the early 1990s, 1990 and 1991. So I've been through these cycles and I learned that when that first job, that when things are bad, you have to work harder. You have to talk to more people and you have to find more opportunities by just having total perseverance. And after being an agent for the Podolski, I became a tenant rep and a buyer rep.00:12:12:01 - 00:12:50:21UnknownAs a broker. I got my license and I represented tenants. I had some really interesting tenants that made products that, you know of that are out there, your microphone. Is that a Sure this is an idea actually, it's such a good question. I think this the at 2100 is the one I originally had, but I bought new one same model or not also sure sure as a microphone company and I'd say they they take they're a major part of the microphone market and I call on them because they were in Niles, Illinois, and that's where one of the Podolski buildings that was vacant was located.00:12:50:23 - 00:13:09:10UnknownAnd I actually stopped in and I talked to them and I said, Hey, how would you like to move to the warehouse That's about four doors away? And they threw me out. Yeah, I got thrown out of a lot of places. I one place I walked in and there was no reception. So it's just this guy chomping on a cigar at the desk by the front door.00:13:09:10 - 00:13:51:05UnknownAnd I said, Hi, I'm here to see if you might consider moving. He says, Go buy, get out. Yeah, there was a lot of that. So I was just I was a perseverance machine as an agent. And then about nine or ten years in, I decided it was time. Maybe to start investing in industrial real estate. So I put together a syndication, my first one and I raised $560,000 and $20,000 chunks from people that I knew from my family locally, from building relationships with clients who were tenants and owners of companies.00:13:51:07 - 00:14:16:16UnknownAnd we did the first deal, we did the second deal, and now we've done 100 industrial real estate acquisitions. So syndication, what would you say would be the pros and cons to it as opposed to syndicating multifamily? Because I know a lot of a lot of people are very familiar with, if you're not familiar syndicator, multifamily goes watch like 20 shows on this podcast or just just look at Grant Carter like it's all over the place, right?00:14:16:18 - 00:14:41:24UnknownSo what's the difference between in Yeah, walk us through the pros and cons like why industrial over multifamily? Because I would, I think the email is this or is this like the the sleeper cell here because everyone saying, industrial office like people are commercial real estate investing sounds scary right now in the general public. So industrial is the hottest asset class in real estate right now.00:14:42:01 - 00:15:13:16UnknownAnd the reason is because the Internet has caused a need for warehouses, because every time a store sends a warehouse opens. Also, there's a lot of political trouble with China and a lot of products are made in China for American companies and companies who struggled with supply chain issues during COVID and still are. And some of the problems between the United States government, the Chinese government, because we're mad at them for stealing our stuff, Right.00:15:13:18 - 00:15:39:13UnknownAnd for not playing fair. A lot of companies that used to make products in China are now bringing it back to North America, and that's called reshoring. So the two trends, the Internet and reshoring have made industrial the hottest. And it's interesting you say that, cause I just spent a week in Chicago for Christmas and my folks live on the South Side near Joliet and Crest Hill, Romeo Ville area.00:15:39:15 - 00:15:59:00UnknownAnd literally since the last time I've been home to the time I was there, I can't tell you the amount of warehouses from Amazon Target just moved in on Weber Road. Well, Wayfair is right there. Like there's just a tremendous amount of warehouses and they're not very expensive to build. So just like a big vanilla box essentially. And then there's a big box.00:15:59:00 - 00:16:19:00UnknownThey're big boxes, they have little boxes, they have tall boxes, they have short boxes. Some of them have a lot of loading docks for trucks. Some of them just have a few loading docks. Some have a lot of office on one end. Some have almost no office in the middle or on the end. But here's what's great about industrial that people don't know.00:16:19:02 - 00:16:47:19UnknownAnd I'm not trying to say, Hey, everyone get involved in my business. But when people hear this, they really like it. The cap rates are higher because everyone's in residential. So the competition in terms of demand or investments in multiple family, you can find thousands of people who do multifamily work. And if you look at every podcast, there's only three or four industrial podcasts.00:16:47:21 - 00:17:11:06UnknownYeah, I get I get pitched for like real estate investors for this show. Like I get like three a week. It's nonstop is just like a guru every like minute, like popping up. Yeah. So the yields on multifamily because everybody's cramming in and there's too many people in it are running somewhere in the neighborhood. It's been is depending on whether it's on the coasts or whether it's somewhere in the middle of the country or whether it's Nashville.00:17:11:08 - 00:17:44:24UnknownYeah, but the yields, if you invest in a multifamily deal or anywhere between five and six and a half percent and in my industrial deals, I wouldn't take less than 8% of my life depended on it. I'm not interested in that. And there's a reason for that. It's because it's riskier. Usually we buy single tenant buildings. If you have a multi family complex with 300 units and you have ten vacancies in a month, you still can pay your mortgage.00:17:45:01 - 00:18:09:17UnknownWell, we'll get into mortgages because that may not be true as rates have gone up, but there's less risk because there's diversification inside of that one investment with industrial, if I have a tenant and let me give you an example. Comcast was a tenant in one of my warehouses. They have to keep their equipment somewhere and the cable guys have to pick stuff up and they have to drop stuff off at a place to park their vans.00:18:09:19 - 00:18:37:16UnknownSingle tenant If Comcast leaves, I'm 100% vacant, but in the meantime, we own that building for 15 years, and by the 15th year our return was 32% yield per year because it went up every year. That's the other thing about industrial. We have generally built in escalations every year. And here's the third thing. That's that's maybe the best.00:18:37:18 - 00:19:03:01UnknownWe love manufacturing buildings. We love buildings where people have equipment and they put racks up. They can't leave. I was going to say it's like golden handcuffs. It's expensive to leave once you do it. Yeah, they can't go once once they're in, especially manufacturers, because they bring in, let's say, 30 machines into a 30,000 foot building and it might cost $50,000 per machine to move.00:19:03:01 - 00:19:32:07UnknownIt would cost over at least to move. So they just stay and stay and stay. So you've got higher returns. You've got automatic annual escalations, you've got this long term type of tenant. And one of the great things also about industrial is they're really easy to manage. So if you're if you have 100 units, yeah, no one's calling you, no one's calling you to unclog a toilet.00:19:32:07 - 00:19:53:14UnknownThey're no we have what's called now. That's right. What's called net leases and net lease is where the tenant pays everything. It's what I say to a tenant when they walk into one of our buildings, the potential new tenant, and they say, What are we responsible for? My answer is this It's very clear. It's as if you own the building, except you don't own it.00:19:53:14 - 00:20:16:05UnknownYou pay rent instead of owning it. And what I'm saving you is not having to invest the down payment. It's our money that's invested and you don't have to get a mortgage and you don't have to worry about paying all the the things that are behind the scenes that I do. But you pay for the mowing the lawn, you pay for the trimming of the bushes, you pay for the parking lot to be maintained.00:20:16:05 - 00:20:38:24UnknownIf it's Chicago, you pay the snow removal, you pay the taxes, you pay the insurance, you pay the plumbing problems. Everything sounds like a pretty damn good deal for a landlord. It is. So we love being an industrial landlord because our tenants pay everything. So, you know, it's it's the best kept secret. That's not a secret is an industrial is a fantastic asset class.00:20:39:01 - 00:21:09:23UnknownBut the reason that it's difficult is because individuals are afraid to invest in either a 100% occupied or a 100% vacant building. That's why so many syndicators do multifamily, as opposed to what I imagine the acquisition strategy is going to be a little bit different in in in industrial versus multifamily. So if I was if I were syndicating multifamily, I'm looking for value highest and best, something that's partially occupied probably right.00:21:10:00 - 00:21:26:24UnknownI could go in there, still have some cash flow, fix up some of the places and then increase the cash flow over time and then, you know, stabilize it and then exit in five years or so. What would you it sounds like an industrial. Are you already having the tenant located before you go out and invest? This is first one.00:21:26:24 - 00:21:46:02UnknownAs a personal investor, do you have your tenant located before you go out and buy the industrial building? They're going to lease first because that seems super safe. If that's the case, yeah, I've got a really strange niche. This is the most bizarre thing you ever heard because this is sort of like you're being a a voyeur in someone's conversation about something that really happens.00:21:46:02 - 00:22:17:09UnknownThe background that nobody knows about unless they're wealthy families, own businesses. The reason is Grandpa started the business like I've got a company that makes fruit juice concentrate in two of my buildings in Chicago, right on the Chicago River at Belmont Avenue, very close to Western Avenue now, right here, That's a it's a beautiful location on the river where one day we think the industrial buildings will be torn down and maybe, Yeah, it's going to be all lofts.00:22:17:11 - 00:22:41:08UnknownYeah. Condos overlooking the river with a water feature. Right. I actually had a lot of listings at 2911 Northwestern, and that's like the only loft building on the river. I know exactly what you're talking about. It's such a beautiful location, and the tenant's been there since the 1990s. But let me explain what happens. Grandpa was in the fruit juice business in Melrose Park with his brother.00:22:41:10 - 00:23:15:11UnknownThe brothers had a fight, so they sold the business to get rid of each other. And Grandpa went and started a new business doing the same thing that he knew how to do, which was make fruit juice concentrate. The first company was called home Juice Company, very big company, and they're still around. But this family sold it. The grandpa and the son and the daughters started a new fruit juice company in Chicago near where they lived and built it up in a nine years.00:23:15:11 - 00:23:43:06UnknownThey sold it to the Rockefeller and the Mellon family that had a private equity group out of New York. So they sold that for millions of dollars. But the building was still there and the family still owned the building and the private equity company didn't want the real estate. They hate real estate. They only like operating companies that they can throw some fairy dust and fix them up and hire some people and make some profits and then sell it again.00:23:43:08 - 00:24:18:09UnknownSo this private equity group bought it from Grandpa and the kids. And what happened next was even more fascinating. The company that bought their company sold their company to a group called Hutchins, which is a conglomerate that owns 400 stores and seven companies. But who's the landlord? The family is still the landlord. So grandpa dies. Now it's the widowed wife, smart, and the three kids and they want to get rid of the building and get rid of each other.00:24:18:10 - 00:24:48:11UnknownThey no longer want to be tied together after all these years. So I find families that used to own the business, that now own the building where the tenant who's in there is the company that they started and don't own. Wow. It's a crazy niche. Yeah, I'm buying a building right now from a family who started a business that makes telephone emergency telephone posts.00:24:48:13 - 00:25:13:16UnknownYou ever go and university campuses and garages? Yeah, Like the little yellow phone. Yeah. So it's called Top of phone. It was started by Grandpa. The kids never went into business. Grandpa had a partner. The partner had no kids in the business. So the two older guys in their seventies and eighties sold the business to a private equity group.00:25:13:22 - 00:25:40:09UnknownAnd now the family's on the property and they want to get rid of it and no longer be partners with each other. So let me ask you a question on that. That's interesting and I just want you guys listening. Just the principle he just outlined will apply to anything. It's not just like industrial, like, you know, he's developed a niche and I'm guessing you developed that type of you figured out who that avatar was probably after you bought your fifth or eighth building or something, you're probably like, Wait, hold on a second.00:25:40:09 - 00:25:55:08UnknownLike, you're realizing that, right? And it's no differently for you guys. Like look at your own last five closings. You had your last five listings. Where are they coming from? Because people don't double down ever. They never focus in because we're like squirrels, right? Everybody just goes. We cast a wide net because we think we should be relating to everybody.00:25:55:08 - 00:26:19:00UnknownBut the riches are always in the niches, aren't they? Yeah. And Chicago, because we've got 1.5 billion square feet. It's a gigantic market. Yeah, it's, it's centralized. So we have, you know, we have rail, we have highways running everywhere. So it's in the middle of the country. So every industrial company has to be here and wants to be here in Chicago.00:26:19:02 - 00:26:47:06UnknownAnd so our niches laser focus only on Chicago, knowing the market inside out, knowing the tenants, knowing the building owners and knowing all the industrial brokers. There's 300 industrial brokers in the Chicago area. And that's a lot. That's a lot. And all of them are experts and most of them are fantastic. And so they give us all of our data, our information, because they're in the market every single day.00:26:47:06 - 00:27:27:14UnknownSo we talk to the brokers every day. And what we do that's really bizarre is we buy these buildings all cash and no mortgage. So it's it's different. You syndicate every building you purchase. Is everything always syndicated? Are you buying up your own funds now? Yeah. Yeah. And three out of every four are no debt. And the reason that we do no debt is because I've been through the cycles and right now I have friends who are being so badly hurt by what's happened with interest rates at some floating rate debt and they have locked in rates yet and now the rates are super high and tenants during COVID, if it was not an A00:27:27:14 - 00:27:47:12Unknownproperty, if it was a B minus or a C property, tenants couldn't pay and then they told their neighbors they weren't paying and then the neighbors didn't pay rent. And so then 20% of all the tenants are paying rent, plus rents aren't going up, plus the mortgage doesn't make sense and it comes up for refinancing and so debt kills.00:27:47:12 - 00:28:12:23UnknownBut listen, there's two things about debt. Either you become rich because you use debt when your timing's good, when rates are low and when cap rates keep going down. But when cap rates go up, interest rates go up, Refinancing difficult. Having debt can be you know, I say debt of debt is death. Debt is death when things go against you.00:28:13:00 - 00:28:34:07UnknownHowever, when it goes for you and in it, you happen to be in a lucky period where debt works, you get rich. So like look at the rate which are 2% in the last market. If you got it, would you do it at a 2% rate? No, I would not go cash. What would be your look? What are the costs of maintenance for an industrial building?00:28:34:07 - 00:28:59:07UnknownLike if you have a debt free, what's your what's your liability there? What's your exposure. Ten. It pays at all. Yeah. So is there any is there any. So you don't really care like it doesn't matter that the market could crash tomorrow and you're still insulated. I right now I'm feeling so comfortable that we we may be stupid because we can't get rich, but my investors are the kind of people who don't want to lose their money.00:28:59:07 - 00:29:20:07UnknownThey've already made a lot a lot of these family businesses that have sold that. I buy buildings from there. The same kind of families that invest with me. The members are already wealthy because grandpa started a company and the son came in and ran it and sold it for $300 million. And now to them, a small investment is 2 million or 3 million.00:29:20:07 - 00:29:45:23UnknownSo I have our minimum investments, 25,000, because not everybody is that rich. But we we really have a a network of wealthy people who love our stuff because there's no debt and they feel safe. Yeah. But they also know that if they want to gamble, they can go to other people. Someone who's in multifamily with a lot of debt can make a lot of money.00:29:45:23 - 00:30:07:24UnknownSo so I'm not saying and everybody should put all their money in something that has no debt, that's industrial, that's got a higher risk profile when when a tenant leaves. But most tenants do stay for an average of 18 years in our buildings. What's a year is this? This is long term hold. You have like a five year exit strategy or anything like this, or you want to hold these and you want hold these forever.00:30:07:24 - 00:30:26:24UnknownAnd this is just mailbox money. Yeah. And if someone wants to get their money back, I have enough investors that I introduce party to party B and I have them talk to each other and one buys the other one out. We do that about, you know, three or four times a year. Someone calls me and says, Hey, Joel, I need my money.00:30:27:01 - 00:30:49:00UnknownI'm here in California. I've got a son who's struggling and I need to buy him a condo because I'll never have a job. And, you know, I need to get my million out. So I introduce Jim in California to Steve in Boston. And Steve says, I know it's worth a million, but I only pay you 900,000 for your investment.00:30:49:02 - 00:31:11:16UnknownAnd so Jim says, okay, make it 950. So that's called rule 144. From a security standpoint, it's not selling securities because I'm not offering it to the public. It's when one party buys out another party. And so rule 144 is how people get out. But when they get in, I tell them this we're long term holders for a good reason.00:31:11:18 - 00:31:30:07UnknownThe rent goes up every year, the tenants stay. And how do you replace when we find a great building like the the Tampico fruit juice building on the river, how are we going to find a better building than that? Why would you got a lot of money and you have an exit strategy too. So you're right. Someone in that location will eventually pay.00:31:30:07 - 00:31:51:24UnknownI need the developers in the condos. Yeah, and you could review it at the time. You know, it's an option. We have a seven year lease with Tampico, so they're there for seven years from the purchase and there's one next question. What's a typical what kind of lease terms are favorable in this when you when you especially out an acquisition like and you have a new tenant coming in, what is the standard like?00:31:51:24 - 00:32:12:04UnknownWhat's the what do you typically look at for something like that in terms of what lease terms like time, length of lease, specifically, our average lease is seven years, a new lease with a new tenant. The seven years when we buy a property, sometimes we get three or four years that are left on an a longer lease that's already burned up a little bit.00:32:12:06 - 00:32:31:07UnknownSo the risk is the tenant. The risk is look is analyzing the tenant and accepting the right one, because if they go out of business and it's manufacturing, I'm trying to get them the hell out of there. yeah. And I have I have nightmare stories that I get about getting rid of tenants. And you'd be surprised at who the bad tenants are.00:32:31:09 - 00:32:47:21UnknownThe worst tenants are the automotive guys. They're they're tough guys. They have to be because people don't trust them. Hey, you're telling me something's wrong with my car or my truck and it's not really wrong and you're lying to me. And then they charge them a lot and then they don't want to pay them and they have to wait to get paid.00:32:47:23 - 00:33:27:03UnknownSo the automotive guys are the most difficult. And actually, of the five tenants that I've ever evicted out of hundreds and hundreds of tenants, three were auto guys repair either body shop or repair guys. One guy right now was not paying rent. I love the guy. He's a great guy, but he does custom painting wheels. Like if you buy a really fancy BMW that's all souped up, you might want the the wheels, which are really nice too, to be like a metallic blue, right?00:33:27:04 - 00:33:41:05UnknownYeah. So he does the painting of those wheels. And I talked to him this morning and I said, Look, you've got to get out of the building. You owe me three months of rent. And I said to my son, I work with my son and I have them come over to your house and paint all your damn wheels.00:33:41:07 - 00:34:00:07UnknownNo, no, he is right. 7000 a month. It's a little building. His rent, 7000 a month. Plus he pays the insurance, taxes, the maintenance. He hasn't paid anything for three months. So this morning I was on the phone with them and I said, You got to get out of the building. We're going to evict you. He says, okay, okay, I'll pay.00:34:00:07 - 00:34:15:10UnknownI'll pay. Hey, you know, we had to get tough. We don't do that. We are really good to our tenants. Yeah, but he hasn't paid rent for three months. I have to take a stand. So just a final question in that scenario, because there's no debt on the building, who cares? You know, there's no risk like the investors might not.00:34:15:10 - 00:34:36:02UnknownI mean, there I mean, you obviously care, but there's not like, holy crap, we're losing $20,000. Are you just not generating cash flow? No, actually, it's worse. How do you know? I guess because he's supposed to be paying the taxes, insurance and maintenance. God. And consider those. Right? So the building's a little tiny building. It's 10,000 square feet.00:34:36:04 - 00:35:01:24UnknownThe taxes, insurance and maintenance all together. All of that is it's probably $40,000 a year, which is four bucks a foot. But that's $3,000 plus per month. So he owes 9000 in expenses that we have to pay. If he doesn't pay it, plus the rent that we don't get, you know, thank God we don't have a mortgage and nobody to our neck because banks have no sense of humor.00:35:01:24 - 00:35:19:08UnknownYou have to pay them right at a mortgage. We we'd be gone. my God, How are we going to pay the mortgage? The guy's not paying the rent. But here's what's happening. I told the investors that we have a projected return of 10% on their money. So if someone puts in 100 grand, they're going to get ten grand a year.00:35:19:14 - 00:35:40:09UnknownWe pay it quarterly, so they get 2500 a quarter. And I had to explain to them at the end of the year, this past year, why they didn't get their distribution at the full amount. And so how long is this going to happen, Joel? I mean, I put 100 grand with you so I could make the 10,000 a year.00:35:40:15 - 00:36:04:20UnknownYeah, didn't make 5000 this year. And by the way and to, to release it, I have to pay a brokerage commission probably to an industrial real estate broker who brings a new tenant. Chances are I have to do a paint job in the office, maybe carpet the office and any little things. And by the way, they may ask for a month or two of free rent is a concession to sign a five year lease and say it's going to take me time to get set.00:36:04:20 - 00:36:23:08UnknownI need some free rent. So retesting is expensive and not collecting is bad. But can you imagine how awful it would be if we had a mortgage? Yeah, that would get ugly. Do you always. Why do you locate the tenant first, or would you buy something with an existing tenant in there and let's say their leases up in two years?00:36:23:10 - 00:36:46:08UnknownWe do all of that. All that we bought buildings with one year left, with two years left, with five years left with seven. My preference is to buy a building that's got five or seven years left. It gives us a lot of time to do a lot of things. Sure, Yeah. Very interesting, Joel. I like it. Any other.00:36:46:09 - 00:37:15:11UnknownWhat would you tell someone listening right now? Just sort of thinking about, you know, maybe they're looking at there's a lot of people making career shift within real estate right now. I think you sort of made a good claim, at least a good pitch for the industrial industry here today. Yeah. Yeah. The other thing I'd like to say is that I love real estate, and in 42 years of career in real estate, I have been so lucky to build these relationships with investors and tenants.00:37:15:13 - 00:37:38:21UnknownIt's all about the relationships and that's really the main thing. And I've heard you say that. I've heard you say that. I've listened to you say that that is your main thing. Yes. It's agree with it and it makes sense. And I'm completely on board with all that matters, is taking care of your people and making sure that you care about what's the old saying is Dale Carnegie, Nobody cares how much you know until they know how much you care.00:37:38:23 - 00:37:59:24UnknownYeah, all of that. Good way to end it. That's right. It doesn't. And this is a relationships and anything in life. I mean, I can't tell you without relationships. There's nothing there. And speaking of relationships, for these guys who are listening, you need to check out my new software referral suite, because that's all it does. It helps you manage, nurture and stay in front of those relationships so they stop forgetting who the hell you are.00:38:00:01 - 00:38:14:03UnknownBecause regardless of what business you're in, you have to maintain those relationships. So nobody hires the person they don't feel comfortable with. Everyone hires the person that they're recommended to they know personally or that they've used in the past. And if they are a stranger and they don't know that person, trust me, they're doing a little bit of recon on you.00:38:14:08 - 00:38:30:13UnknownThey're looking online and they're asking people about you so called lead generation, at least in the real estate business. It's so highly relationship based. It's a big investment. So people can do that with someone they know they can trust. Awesome. Dude, I appreciate you having coming on the show. Love having fellow Chicago people on and thanks for sharing your insights.00:38:30:13 - 00:38:47:12UnknownI'm going to actually check out a lot more industrial stuff. You open my eyes are to a lot of different ways to look at that and look at it from this point of view. But you opened my eyes in a different light. So I appreciate that. Thanks for listening. I will see you guys next week and another episode of See you then and A's.00:38:47:15 - 00:39:11:13UnknownThank you for watching another episode of the Real Estate Marketing Do Podcast. If you need help with video or finding out what your brand is. Visit our website at WW W dot Real Estate marketing do dot com. We make branding and video content creation simple and do everything for you. So if you have any additional questions, visit the site, download the training and then schedule time to speak with the dude and get you rolling in your local marketplace.00:39:11:17 - 00:39:14:12UnknownThanks for watching. Another episode of the podcast will see you next at.