Join the CRECo.ai Real Estate Roundtable Hosts as they discuss the conflicting messaging in the markets; lack of deals, labor, inventory, urban exodus, and asset repositioning. Learn how to avoid rogue marketing, identify areas for growth despite tight lending conditions, and the value of 1031 Exchanges—all to help you build a great brand and a lasting business.
December 1st Roundtable Hosts:
Andreas Senie, Host, Founder CRECollaborative (CRECo.ai), Technology Growth Strategist, CRETech Thought Leader, & Brokerage Owner
Chris Abel, Membership Director Associated Builders and Contractors of Connecticut, Board Member SMPS—Society for Marketing Professional Services CT
Rebekah Carlson, Founder & CEO Carlson Integrated, LLC, Past President NICAR Association, Brokerage Owner
Anna Maria Kowalik, SVP – Director Business Development Inland Green Capital LLC LLC, a capital provider for commercial C-PACE projects and part of The Inland Real Estate Group of Companies, Inc.
Dan Wagner, Senior Vice President Government Relations at The The Inland Real Estate Group of Companies, Inc.
ABOUT THE ROUNDTABLE: CRECo.ai Real Estate Round Table: Your all-in-one comprehensive view of what's happening across the real estate industry -- straight from some of the industry's foremost experts Technology, Marketing, Brokerage, Government Policy, Capital, Construction & Cyber Security in Real Estate Join us live at 6PM EST the 1st Thursday of each month, across all major social media channels and wherever you get your podcasts.
This three-part show consists of:
Part I: Introductions and what's new for each panelist and the business sector
Part II: Sector Focus on the past month's most prominent news and paradigm shifts
Part III: What does all this mean for real estate businesses, and what you can do for the next 30 days
Learn more at https://welcome.creco.ai/reroundtable
CRECo RERT 12-01-22
[00:00:00] Andreas Senie: Welcome back to this month's CRECo.ai Round table. You are all in one comprehensive view of what's happening across the real estate industry, straight from some of the industries, earliest technology adopters and foremost experts in technology, marketing, brokerage, government policy, finance, construction, and cybersecurity.
As always, this is a three part show introductions, what's new for each of our sectors from our roundtable hosts. And then we Dr. We drill down sector focus, biggest news paradigm shifts, uh, paradigm shifts and obstacles for the new year. Followed up by, what does that mean for your business? How to get around it, how to get under it, how to get over it, how to thrive in 2023.
I'm enjoy asce, founder Siri, collaborative brokerage owner, and a technology growth strategist for both the non-profit and for profit sectors. Joining me this month, I, none other than Rebecca Carlson, founder and CEO Carlson Integrated. Anna Maria Koala, director of Business Development, senior VP Director, develop, uh, business development Inland Green Capital, the only capital coming out the door these days.
Chris Abel, director of the Associated Builders and Contractor, and I've got a lot of contractor questions and development questions and Dan Wagner is working to join us with some technical difficulties. And Sal Klein, our original internet Evangel. May or may not be on. We'll see. Tough group. Uh, Darren is overseas, but we'll be back shortly guys.
So happy to have everyone back. It's, it's been a rough Well, it was a great November and a great December. It is my favorite time of year. Don't let the single snowman fool you. I am totally decked out for the holidays. It's just, this was the last room. Um, I love the holidays. So happy to have you back. Uh, Chris, you're to my upper right here.
Nice to see you again. What's, uh, what's happening in your world?
[00:02:09] Chris Able: It's, it's good to be back. I feel like I, I kind of like came home for the holidays now since I was away for a couple months, but, uh, everything on my end is good. I've been chatting with a lot of architects lately, obviously talking with contractors.
I'm just trying to, uh, listen to a lot of economists just trying to figure out what 2023 really looks like, because the. Nick's messages is probably the, the two words that, uh, that come to mind. Um, and I still can't figure it out and I don't know if I'm gonna be able to figure, figure it out. Uh, certainly not on my own.
So that's one of the reasons I came back to chat with chat with this group. Chat with the
[00:02:48] Andreas Senie: table. Yeah. I mean, we, we should be able to figure it out together. Although our markets, something I've noticed is, you know, it's sensitive to markets, right? Where, where we're doing business, Dan is in the, is backstage in the green room.
Finally, Mr. Mendoza, do you wanna bring him? Dan, welcome. Thank you for joining. Uh, we're we, Chris just brought up the, the different messaging we're hearing from different people, and I know you've got an exciting political announcement, so bear with us . We're gonna get to it. Anna Maria. How are things in the finance world?
All things green?
[00:03:22] Anna Maria Kowalik: Well, you know, uh, not always that great because of, uh, rising interest rates. Uh, there, uh, still a little bane of everyone's existence. But, uh, other than that, uh, sea pace is going strong. Um, we have, uh, quite a, a number of deals in the hopper. Um, it won't get done necessarily this year. Uh, it's already late in the year, but, uh, four projects that are being planned for early 23 into the spring.
And, uh, and actually, uh, the program in Illinois is growing, uh, pretty well. Uh, we had another closing yesterday. There have been two seamless transfers in this calendar year, uh, of, uh, properties with CPAC financing on them, uh, during change of ownership during sale. So, uh, that's very, uh, promising to see, to, to show how well the product works and, um, and, and how, uh, you know, it's, it's such a great, uh, tool for the commercial property owners to use.
So very exciting
[00:04:37] Andreas Senie: and, and no mixed messaging on CPAC as far as I can tell. I haven't heard any. We're gonna get back to Chris's mixed messaging in just a moment on the industry, cuz I agree with you. I'm getting a lot of mixed messages. Mecca, how are things on the marketing side, brokerage and otherwise where we are Illinois heavy today, we.
[00:05:00] Bekah Carlson: Well, along with the, along with the rapid decrease in temperatures, certainly here in Chicago, it's time to bundle up and prepare for the holidays. So from our team standpoint, we've been very active in preparing for the holidays, but also beyond the holidays and first quarter planning for a number of our clients.
It's exciting to see when companies utilize the downtime that they may or may not have from a transaction standpoint to really focus in and hone in on their messaging for next year and, and some of their brand characteristics and reestablishing some brand guidelines. Cause things got a little rogue out there from, from an appearance standpoint and, and, and kind of retrenching and using what this time is for, from my perspective as a marketer, it's, it's time for planning.
[00:05:48] Andreas Senie: Gotta get that calendar together. And lastly, and, and most importantly, potentially most disruptive, Is, are politics gonna change everything we're talking about to begin with talking about conflicted messaging. Dan, how are things on the political side? Speaking of rogue marketing? No, I'm not. Speaking of that, let's not go down that rogue.
[00:06:06] Dan Wagner: My gosh. Well, hi everybody. It's, uh, good to be coming at you live from the wild world of Oakbrook, Illinois here in the inland real estate groups, uh, world headquarters. I have my Christmas tie on, so just in honor
[00:06:19] Andreas Senie: of you guys. I've got my snowman. I love it. Santa
[00:06:23] Dan Wagner: Claus, my Santa Claus cup full of hot chocolate.
So, and I've officially put in my, um, my, my house outdoor illumination. I am Clark Griswold and I've, uh, I put that into , the newspapers. They have a contest. So last year I won one of the awards and I'm going forward to again this year. So, all right, it's all exciting. So anyway, happy holidays to one and. On this call.
It's, uh, exciting
[00:06:49] Andreas Senie: time. So, uh, that's so funny. I have a Griswold situation with one of my new neighbors. I don't like his decorations, but that's not for this call
[00:06:59] Dan Wagner: uh, I have good news for you. So this is my Chris, my, my present, my holiday present to all of you is that we are gonna have divided government, thank the Lord. And, uh, we have the, um, the house has, uh, been, uh, will be taken over by the Republicans. Um, all but a slim majority, but a slim majority is still the majority and that's a wonderful thing.
Um, Kevin McCarthy is trying to, uh, do everything he can to, um, make sure to garner enough of the 218 boats that he needs. And he's, uh, quickly, uh, working towards that goal. They bet as a caucus, and everybody said he's the guy, um, but he still has to gain more, uh, support, um, to make it happen. And so that's what's going on there.
Um, We have for the lame dock session. They're, uh, they came together, uh, just recently and they're, they're voting on the, the rail strike, uh, to try to stop a rail strike. So that's very important for commercial, that's important for the whole economy. But obviously for commercial real estate, for retail, everything you can imagine.
Um, they also have a continuing resolution that they're gonna have to pass, and that's gonna be, uh, a tricky wicket. But, um, you know, government, we don't want the government to shut down. But from a, the standpoint of what's gonna happen to the 10 31 Li Ken Exchange, what's gonna happen to, uh, capital gains, all that kind of stuff.
Having divided government, we are set until the next election, which is gonna be in 2024. So that's gonna be an interesting
[00:08:34] Andreas Senie: experience. So if anybody asks, is it a good time to sell real estate? The answer is a resounding yes from every broker in the room. But you can still 10 31 exchange for everyone turning 65 or older and into, into greater revenue.
Um, and I'll speak up for Saul here, even though he couldn't make it because he sent this to me. The biggest concern I'm hearing from my side of defense brokerage wise, and Dan, I gotta warn you, Anna Maria already said she's doing tons of deals. So we're gonna talk about Illinois and deal flow at some point.
Um, is the fact that scholars are increasing, increasingly voicing concerns that a shift to working from home spurred by cor, the coronavirus and then a is gonna cause a three decade renaissance out of the major cities. It's in the New York Times, declining public transit, vacant offices. Well, meanwhile, all I'm reading about is the housing shortage problems in one outlet, and here we are, people are talking about vacant housing in urban areas.
Similar to what you were saying, Chris, what's the right message? What, what are you hearing on your end?
[00:09:42] Chris Able: Uh, I mean, the, I know a lot of the, the contractors I'm dealing with, they're definitely, um, getting in on some of these, you know, larger housing, mixed, mixed use, uh, type of scenarios. Um, it's, I mean, like I said at the beginning, it's definitely mixed messages.
Everything's a little bit unclear as to, you know, what direction things are going to, to quite frankly be, you know, be moving into. I'm, I'm obviously on the side of things where, um, I just don't know who's gonna. You know, who is going to be building these things per usual. That's probably the biggest concern as far as the contractors go, is just the, the actual, it's still labor.
It's still labor. I mean, that's, that's just not going away. It's not, you can't just create people. It's just not, you know, it's not a sustainable scenario. Spoke with a contractor, not to go off topic, but spoke with a contractor this morning. Uh, we were talking about estimators. He said, yeah, we're just, we're losing an estimator.
They're retiring. As soon as I hear that word, it's like, it's like a, a knot in my stomach because it's one thing if they go from one contractor to another, if they're retiring, there is no, you know, replacing, you know, replacing them. Um, I find it interesting with the idea so many people working from home, and as you know, Saul mentioned through you that, that kind of three decade renaissance.
You know, people are working from the place where they're living, but now we're, they're saying there's a housing shortage, so what are we, what essentially we're building, what are we, we're building offices almost for people
[00:11:14] Andreas Senie: to be working. Let's repurpose, let's repurpose those offices. Yeah. Hopefully.
[00:11:19] Chris Able: Yeah.
Which is interesting cuz you're repurposing for people to live, but also to work in anyway, so it's kind of, I don't know, it's kind of dynamic to, to, to think about, um, I know people are trying to figure out what to do with some of the malls. Again. That's, that's been a topic up, up our way. Um, but it's, it's wild.
I mean, my, my focus has been dealing with the economist and what they're thinking and what I need to do as far as my business decisions with my, my contractors. Um, if you talk to some of the economists, they say one thing, but then you talk to the contractors, at least up in our area and they're all busy.
[00:11:58] Andreas Senie: They're all busy. There's conflicting messaging, as you said. Yeah. If you look on, on the ground or at the permits being pulled. Sure. Seems like activities happening here in the northeast, Connecticut, Massachusetts. Yep. And I can't speak to cpac, which is why we're gonna come back to Ann Marie on it.
And then, and apparently Illinois is, is thriving. Deals are getting done and, and. , you know, for 2023, I'm hyper focused on being opportunistic, including now q4. We love that it's a good time to do business. Everyone's being quiet. Um, and business,
[00:12:27] Anna Maria Kowalik: no. But in the, in the Midwest in general, especially in the C pace arena, we're seeing, um, you know, a lot of the adaptive reuse, uh, you know, uh, particularly, uh, conversions of, uh, one use to a totally different commercial use.
Uh, so taking some of that vacant office space and, and, uh, turning it into multi-family or taking an industrial facility and, um, making it, uh, self storage, uh, you know, an old industrial facility that, you know, uh, hasn't had, uh, any business in it for a while, which there, there's very little of that, but it is still happening.
Um, it. You know, and, and so, uh, people are trying to get a little bit more creative too, uh, since there has been a, uh, somewhat of a decline in, uh, uh, the, the huge major malls, uh, shopping malls as we, uh, remember them and, and changing them into mixed use and entertainment centers, along with multifamily housing and making it more, um, individualized communities, so to speak.
Uh, you know, these are all, uh, the kinds of things that are, uh, crossing lines and, and kind of running into all of real estate commercially, uh, is what we're seeing from, uh, from the PACE standpoint.
[00:14:03] Andreas Senie: Well, and it's interesting to me cause I, I think of the 10 31 exchange and, and at least in Connecticut, we've got a lot of industrial property.
That needs to get sold, it needs to be rehabilitated or repurposed. There's some, some environmental concerns with a lot of it. Cause we're a manufacturing state that's bread and butter. Um, sea PACE doesn't handle that. It won't help with Brownfield, it won't clean up a site, but there's plenty of FU funds out there, government funds to help with that.
Mm-hmm. seems like that that's a product type to focus on these, these industrial sites. I, I'm surprised Illinois doesn't have more of that, but it, again, they're sitting, they're stagnant, they're in great locations, but they're, what can we do with 'em?
[00:14:46] Anna Maria Kowalik: Yeah. And it all depends on the, the property owner.
They have to be the impetus in wanting to improve their buildings, existing buildings and, uh, you know, because there's not much, uh, more land space, especially in the Chicago land area, uh, to be building, you know, uh, ground up.
[00:15:03] Andreas Senie: Absolutely. So, but it, this happened. Go ahead, Dan. You know, it's
[00:15:06] Dan Wagner: hard right now though.
You know, it's, uh, it's hard to find deals and obviously, uh, with the interest rates going up and everything and the prices still are still high. Um, the deals, the deals are, are clearly difficult and things seem to be kind of weird out there. But the weird dichotomy is that all the assets are performing.
I mean, you know, apartments are doing great student housing. There's, you know, a shortage or trying to open 'em up. Even our hotels, I mean, um, things are coming back and they're doing good. So it's, a lot of people in the industry haven't seen something like this, uh, really ever. I mean, you have, you know, this, this, uh, interesting dichotomy of it's hard to get deals done now, but you have, uh, the assets are performing.
So that's an interesting process to go into. Well, and
[00:15:56] Bekah Carlson: to, to that point, I did a broker breakfast two weeks ago and we did a number of bankers there from, from local banks. And it was exciting to hear one of the bankers was talking about, you know, everyone starts asking, right? Is, is receivership coming or banks creating workout groups?
All of these questions. And this particular banker said, we have
[00:16:18] Anna Maria Kowalik: zero default on our books.
[00:16:21] Bekah Carlson: We do not have a single loan that anybody has not paid, not a single payment has been missed by any of their, within their entire portfolio. So when you have a bank that has that strong of a balance sheet and when you have loans that are performing, there's just not the distress that people think.
is coming, is here. Could be coming, could be here. So I am seeing Chris's mixed messages all over the place. Right. In every area of commercial real estate right now.
[00:16:52] Andreas Senie: Well, and it's, it's just the other day I was, I was in Texas, which was wonderful. First time in Texas, and, uh, someone asked me, they're like, are you worried about your bank's ability to pay?
Its, are they financially stable as a community bank? I went, I don't even know why you're asking that. Of course they're stable. You know, they're doing just fine. So, yes, I think everyone, everyone in this industry, we've been through it. You outlive the, the shift down. And although we might be by definition in a downturn, I think people are thriving.
You just have to be a little more opportunistic and you have to work very hard at, uh, for us brokers filling the pipeline, right? It's more doors we're knocking on, but the end result is less. People are knocking on the same doors. At least in my end, there's no shortage of labor here. I'm looking forward to less people in the space, um, that wanna retire or what have you, which is what I got licensed 2007.
It was great. I worked really hard for a living. I look forward to, to working less hard with technology, having learned a lot of hard lessons. Well, and I,
[00:17:56] Dan Wagner: you know, at AR has the most members it's ever had. I think it's at 1.5 plus million. I mean, so it's absolutely, it's a pretty big deal.
[00:18:04] Andreas Senie: Yeah. We we're the largest, uh, association of Professionals in existence in the US last chat.
[00:18:11] Dan Wagner: Yes. Yeah. And the, the nr uh, just does such a great job with, um, every aspect of Lawrence y uh, doing his analysis. We should get Lawrence y on this, uh, call. He's still good. He's so good. Absolutely. He was great. But I know that, um, I believe they're all, they're in Philadelphia right now doing their, our, their RPAC conference where they bring everybody together to talk about what's gonna happen in the future with politics and.
And people are, uh, are optimistic. I know that, uh, that when you look at what's gonna be happening at the national level, um, you can't help but talk about the, the presidential stuff. And, um, the, the 800 pound elephant in the room is, uh, Donald Trump . So that's the, uh, that's where, uh, the Republicans are going through an interesting experience.
Um, you know, Trump helped, uh, gain interest into their world. And now, um, they're seeing that there's a lot of, uh, damage that Trump has caused among, uh, the party. And so they're trying to figure out how to get back it away. And it looks like the anus is, um, could be the, the person that they're gonna be looking to.
And it's, so, it's a really interesting experience. I know that, uh, that there's been fallout where, uh, Trump's endorsed all these different people and they, um, they just lost. And the thought was, is that we were gonna take the Senate or the Republicans were gonna take the Senate and they, they unfortunately did not,
[00:19:42] Andreas Senie: um, But the 10 31 is thriving.
The, the 10 31 is thriving, which is for, for those of us in real estate, that's our biggest, not our biggest priority, but our biggest work priority. Yes. Yes. Without going too political on it, it's, it's, uh, but we have
[00:19:57] Dan Wagner: to continue to, so it's important that we all remember that we never can put our feet up on the desk and, uh, say everything's just fine.
Because, um, as we know, president Biden in his. Budget. He still, even after we won, he still put in his budget to cap the 10 31 and $500,000. Now, luckily, our industry has done a great job to educate members of Congress where they're all, uh, understanding the importance of it. And, you know, his budget went nowhere.
Uh, but now in two years, you know, we, we still again, have to educate all of these new members of Congress that are coming in and make sure they understand. Because when people are looking for money, they, you know, some folks that just, they don't know what a 10 31 is, they're gonna say, this is a, a loophole and all that crazy stuff.
So we're always remembered to constantly educate and educate. But, um, the, the politics of, of, uh, Washington are, is very unique right now.
[00:20:51] Andreas Senie: Well, I'm glad I'm not a politician. You know, here's the deal. It's commercial. We're not talking emotions unlike the other side. to go there, uh, the other side of the industry, but it's, uh, it's a commercial deal.
Let's talk numbers. And to me, the 10 31 is, is actually. Quintessential for this change in repurposing property?
[00:21:11] Dan Wagner: Oh, it would be dead. I mean, so many, so many things would just grind to a halt if you didn't have the 10 31 to be able to do that. From a re perspective, from, um, from really, um, all different perspectives.
I know in, um, in, in Illinois here, just just down the road from Oakbrook, is it town Naperville, which is um, I think the second largest, uh, economy outside Chicago. And they had this old Kmart building that was just dead and it just, uh, was sitting there and being a big iceo with weeds growing in it. And an older gentleman had it and he was gonna get killed in capital gains.
He was never planning on selling it. And then the city was able to work with Costco and Costco said, Hey, uh, owner, why don't you do a 10 31 exchange and, and then go into apartments? And so that was the only reason. This property was able to be repurposed and they were able to bulldoze it. Um, it created a ton of jobs.
Yeah. It created, it created, um, people being able to the city be able to get, uh, sales tax now from the Costco. Um, so many just wonderful aspects because of the 10 31. It would never have happened if it wasn't for the 10 31. This guy would never have sold. And now he and he did. And, and that's just been wonderful.
But we're, uh, we're so blessed to, to have the 10 31 and, you know, our, our DST world, um, is, is doing well. We, uh, we still have, you know, with, with us, I know that, that we have, I believe it's 13 billion under management just for our, uh, DSTs alone. So, um, we are, uh, we're, we're very happy working, uh, keeping the 10 31 business going
[00:22:46] Andreas Senie: strong.
Well, it's, it's, it's such a fantastic part of the model in real estate. It's, and. I'm taking it from you. It's the 401k for us real estate operators, we own real estate. That's our 401k. That's how, that's how we, we look at it and it's great. But I want, I wanna circle back here for a moment on Rogue marketing, that was brought up by Becca
So I'm losing money if I'm saving it because of inflation, because of politics. But the 10 31 is there. I've got properties that are stagnant. Last time you were on, we talked about, about funds, oversubscribing marketing, I mean, there's plenty going on. So what, what does that mean? Rogue marketing? Is that mixed messaging Is that is so just what it's, are you echoing Chris here?
[00:23:33] Bekah Carlson: I do think there is a mixed messaging component. And I think over time some brands get a little bit, uh, lax in what they'll, what, what they permit. Mostly because we do have a lot of young people coming in the industry and they have all these great ideas and, and no one wants to squash their creativity.
But I increasingly see things that are not according to brand standards. Inland doesn't do this. Inland controls their brand as they should. Your brand is a huge asset.
[00:24:05] Andreas Senie: That tie was not group by inland. I'm just kidding. That's a beautiful tie. The
[00:24:10] Bekah Carlson: it's your intellectual property
[00:24:12] Andreas Senie: absolutely enrich all of them.
[00:24:15] Dan Wagner: She's one of the most brilliant people. Just keep going. .
[00:24:20] Andreas Senie: No.
[00:24:20] Bekah Carlson: Your, your brand is your intellectual property and it is that piece of recognition that people have with how things are looking and so, We, I have a full social media team and we have to internally double check, triple check, quadruple check is this in alignment with the, with our client's brand and that's our messaging, how we're speaking to our constituents or speaking to our client's constituents with our, with comprehensive brand strategy.
But it's also the appearance of what's coming out and being published under their name. Because, gosh, I was talking to somebody about the retail Space guide the other day, which is a Chicago publication that's like a, a listing platform or like it's, it's like a white pages. All of the property listings in retail, real estate in Chicago.
And it's been around forever and it's under, this
[00:25:10] Andreas Senie: was done before the
[00:25:11] Bekah Carlson: internet. Right? I know, I know. I love it. ,
[00:25:14] Anna Maria Kowalik: I will tell
[00:25:15] Bekah Carlson: you, I have always seen Inland add on the cover, on the back cover or the often on the front cover as well. Right. That brand, when I think of Retail Space Guide, I think of Inlet.
[00:25:29] Andreas Senie: Inland is always buying. I can, any time I book an ICSC event, and I'm not gonna say their new name now, anytime I book an ICSC event, I think of the brand. So, no, that is very true. And you're so, but I have not seen an inland meme. Is that the right term? Uh, exactly. And that's what you're talking about.
That's mm-hmm. new age Media. Is that the right, I don't even know if that's the right term, guys said Twitter was people can't read. Right. Or people can't read. Really
[00:25:56] Bekah Carlson: do, but some can't. And it's not an alignment. I have seen, you know, kind of cartoonish fonts in a financial services company that is not Okay.
So there's, so there's some pieces that,
[00:26:13] Andreas Senie: so emojis are not okay. In your, in your business email. I'm getting that. Okay. It's universal language. I've been. It, it
[00:26:21] Bekah Carlson: is a universal language and some people can utilize it because they use it on other forums if that's part of your constant conversation. And I have written several emoji filled emails for a client.
It's totally outside of my normalized wheelhouse. I really speak commercial real estate, financial services, so much better than little emojis. But I'm able to do it and have been able to provide it and, and send him out for that client. And it's perfect for him because he puts on LinkedIn like 8,000 emojis.
That's, that's like his heart and his narrative tone on LinkedIn. So when people get the emails, they're like, oh, hello. It's just him. Cute. Well, that's,
[00:27:01] Andreas Senie: I love it. It's in brand for him. If inland put a bunch of hearts next to something, it might be surprising
[00:27:07] Dan Wagner: it be. The other, the other thing is, is we are, since we, uh, we get, we securitize commercial real estate, um, we are under incredible, uh, scrutiny, compliance, security with securities exchange commission, finra.
And so there's, there's a whole, uh, staff here at Inland that's just compliance and you know, their, you know, their whole reputations are on the line too if, uh, if somebody messes up. And so, um, we are always constantly setting stuff to our compliance division that's being able to, you know, approve a message, approve anything.
And, you know, that's what's so helpful. We, I mean, really inland has the belt suspenders of being able to follow all the right procedures because when you're investing people's money, there's nothing more sacred and you have to take care of, of where you're, you know, what you're gonna be doing with that.
And so we're super conserv. With how, uh, we, uh, you know, we go and, and buy something and Anna Maria will tell you there's, you know, just like everything, the due diligence that, that she does, that we all do is just ingrained in us after 54, after 53 and a half years of the company being in business. So, um, that's an important thing to remember
[00:28:14] Andreas Senie: as well.
Well, it's, it's, it's interesting. Here we are conflicting, again, conflicting messaging and, and less so, or maybe less so. Um, it's about medium. Like where are we sending and how are we sending, I've realized there's been a huge uptick for me dealing with newer real estate operators, um, who just loved text.
And there's the intonation's gone in your text and it's, it's great for like, see you at four, but no, don't, don't text me the deal parameters. Like, I want an LOI and I want a phone call. I wanna talk it through because I wanna, I want to hear when or what's. Might be a pitfall, um, at C Pace. I imagine given the regulation as, as Stan was saying, and, and 10 30 ones, it's, it's all email.
You guys can't even communicate text. Given what you're doing. Oh,
[00:29:03] Anna Maria Kowalik: no. There's the occasional text with a client, like you said, see you at four. Or you know, something, who does that? That's non-material. Um, and, and even, uh, with email, uh, we prefer handling. Uh, everything by phone. Uh, having that one-on-one experience with the client, uh, building that relationship, uh, there's so much nuance in relationship and, and so, um, you know, everyone wants to put their best foot forward and, and, uh, the only way to do that without misunderstanding is, you know, more talking collaborative and talking.
Yes, absolutely. You can, you can see my Italian hands fly. You can see my facial expressions, you know? Absolutely. It's,
[00:29:55] Andreas Senie: it really is a different's human. Yes. Important. And I'll borrow it from Jonathan Steins. I do often network, your network is your net worth, and two network is a contact sport in real estate.
That's right. It's just,
[00:30:08] Chris Able: there's also a huge difference in just, you know, what you do like when you read something and you say, okay, this is what they do, what you do versus what are, what are they doing? What are you doing? You know, when you send those, you know, those mixed messages and you have all these, um, you know, like you said, the emojis.
If that's their brand, that's fine, but you know, as far as what you're saying with, with Inland having that brand Amar, nobody wants to be confused as to, they wanna know what you do, how you do it. They don't wanna sit there and be like, what? It's no different than getting a text from a friend or a family member that seems a little, little bit off kilter and you just kind of like, instead of going to the message,
Okay. Okay. I am gonna see
[00:30:50] Andreas Senie: what they're trying to say. Yeah.
[00:30:52] Chris Able: Hold it. Holding it to your significant other, another family member going, what does this make sense? What are they doing? What's, what's going on with this person? It's the same thing in regards to, to business and like what Becca was saying, some of these fonts and some of these things that you see out there, you don't wanna sit there and wonder like, okay, what are they doing?
Are they having a little bit of identity crisis? What's going on here? Especially when you're talking about these deals of some really sizable numbers and some really important stuff going on. The last thing you wanna do is, like, I I, you wouldn't see, uh, contractors going in with, you know, Crazy fonts and wingdings and all this other stuff.
If they were, I know
[00:31:29] Andreas Senie: that one Wingdings wing, you
[00:31:32] Chris Able: remember that? There you go. When, when they're, when they're sitting there in front of, uh, you know, the University of Connecticut, you know, construction, construction team to figure out where they're gonna build the new dorms and all this sort of stuff. I mean, everything needs
[00:31:44] Andreas Senie: to be, there's an expectation, there's a formal, uh, layout.
I'm thinking back to literally 2008, I was pushing out a thousand offers a day on behalf of one of my clients, but it was a templated format. Here's the offer, 63% of value cash. Great . I,
[00:32:01] Anna Maria Kowalik: I've always loved our tagline words, uh, integrity, first and foremost, expertise and innovation. And I think those three words, you know, uh, the, the fact that we, you know, it speaks our whole brand, and I've never appreciated them so much as I have in my current position.
Uh, because, you know, we wanna be transparent. We wanna be, um, uh, the experts. And if I, if I don't know something, I'm certainly gonna find someone who does. Uh, and, and I certainly have enough resources, uh, within the company, uh, to find the real experts. And, and so, you know, we can't be all expert at everything.
And so, uh, you know, it, it, it really is comforting. To have a good brand and, and to be able to work within that brand
[00:33:00] Andreas Senie: well and to call on that history that, that combined history and experience and that, and that's really, uh, we're hitting 6 35 Eastern. The biggest thing I've seen. Hot topic is how do we get lean and mean for 2023?
How do we operate? Well, and it's, it's focused on the skills you have and, and, and then hard focus on, on the opportunities in front of you. So at least somewhere
[00:33:23] Dan Wagner: I said transparency and ethics, all those things come into play. And obviously, uh, that's what we all on this call and, and everybody's listening.
That's, that's the kind of folks you want that, you know, there, there are bad apples that exist, but they don't last, uh, they, they kinda call themselves out. You know, with, with, I was also gonna highlight sell, like when you sell a dst, um, there's certain things that are inherent that, you know, Dan Wagner or Andrea, we can't sell you the dst.
You have to go to a third party that's gonna be able to analyze and talk, you know, talk to you about all aspects of a deal, and the sponsor can't sell it to you. Mm-hmm. So that's an important thing to remember as well. So you really have, you have to, um, go through a lot of due diligence before you can, you know, sell something to somebody.
And, and that's super important as well. And just, you know, like any broker, um, real estate broker, that they're gonna make sure to do what's best for their client. And, uh, you know, not to take advantage of them. And that's why, you know, it's great to be related to, to you because, uh, you have a high ethical standard and, um, that's how you've been successful in your career.
[00:34:32] Andreas Senie: 90% of my business has been repeat reputation referral. Matter of fact, I drone it into new agents I trained. And with the internet today, take a moment to destroy all three. You have to build your network and continue. And to Anna Maria's point, surround yourself with great people and then leverage those people cuz they're happy to help you.
It's, it's human nature to help one another. And I was, I was just on another call. I've been on quite a few calls in a v are surprisingly, uh, think tanks and such. Um, about the com, the different segments getting together. Conferences, how to handle messaging, interestingly enough, how to get their message out.
I told them all this, send, send Carlson integrated beanies like three years ago cause it's pulled out in Illinois. Uh, we don't know if that'll fly , but, uh, it's, the, the resounding theme is, as I said, get on the phone and get on the phone with your trusted advisors or circle and find your team. Dan, to your point, who is it you can turn to?
Cuz, cuz you're gonna need their experience here, especially. What I see here in the Northeast is a, I don't know, a two month or three month kind of window where deal flow is just gonna slow. Apparently not in Illinois, it's, it's driving, but in the northeast we've got this kind of slump in front of Well, and how
[00:35:49] Dan Wagner: are, how are you, I mean, just, you know, just this whole, uh, cre collaborative experience.
I, I've really enjoyed coming on and getting to know, um, my, my fellow presenters. But you might talk a little bit about how, you know, how you created this. I mean, you're a creative person and how do you promote this and how do you get people to come and wanna
[00:36:08] Andreas Senie: listen to this? Oh, a shameless Christmas present as a plug.
I, I love it. I will absolutely talk about Siri Collaborative. The Siri Collaborative or craigo AI platform was first built to solve my, my, my problem. My problem was, as a broker in 2015, I was logging into 13 different things, took me three hours a day. There were only 80 things to log into in 2015. Today, there are 10,000 vendors to log into.
Two years ago, there were 6,000 technology, and the evolution in this space from an Excel spreadsheet is incredible. But it wasn't until Covid in that paradigm shift that really forced adoption. And as I I say, you know, Instagram must not know how to write or read and Twitter, you can't write well, our audiences are there, so we must be there on technology.
Where are your clients? How do you reach them? What's the media? What's the communication? Creo connects your disparate systems, whatever way you have them. Each of us on this call has a way we do business, we have things we subscribe to, news feeds, data that's important to us. Bring it all together in a single screen and then make the data available where you need it.
That's what we do at KRA up. But the nature of it is collaborative. We partner with everyone because that's the way the industry actually gets deals done. We're not here to compete. We're here to collaborate and help you get there. So Dan, thank you for that this Christmas. There you go. We never talk about the show cuz the show, we never talk about the platform.
But by all means, please check us out if you haven't already.
[00:37:46] Dan Wagner: Um, and, and what's your vision in, I mean, where do you think this is gonna grow in the next five years? Like what do you, what are you seen?
[00:37:53] Andreas Senie: Sure. The, the, the fact is, um, even with, especially with this shift affordability is key. Real estate practitioners are hyper focused on where they're investing their funds.
What's the return on that investment? Where do my actionable insights? So within the next five years, you're gonna see a major consolidation of those 10,000 way down. We've already started to see that some of those companies, it's not name names, raised 200 million, 500 million, 400 million, all went out of business cuz they were building things the industry didn't need.
But a tech guy said, oh, that's what they need. They built it, it was funded, it didn't work. It happens. Greco can is solving the problem of, of connecting things you're already using and then introducing you to things you don't know about that you should be using. I talked about Land Gate last month. Land Gate's gonna tell you the solar lease value of your property anywhere in the US as a broker.
I didn't have that number before. Mm-hmm. . So now I have a, a talking point to a client or a customer that I just didn't have, which makes me smarter than the big box brokerage down the road cuz they're not using that cause they're too big. They are stuck in a, in a cadence. So as a, as a middle market, as an smb, the, the majority of the industry you have in a unique opportunity to really take market share.
The bigger institutions are going to pull back and do what they know best. And then there's gonna be this middle ground where we can be very opportunistic and take market. And that's what I'm most excited about coming into 2023, working with smart people. Thank you for asking. What's inland gonna do over the next five years?
Just kidding. We know what you're gonna do. Inland's gonna keep buying. If I
[00:39:35] Dan Wagner: were mention our compliance people would kill
[00:39:38] Andreas Senie: me. I I know they would. Inland's gonna keep, keep buying. I know. I can say that. I've checked with her. Yes. Joke is said. The missing I, that Anna Maria didn't say was increased revenue for investors.
Two words, sorry. Three words. Uh, and, and beanies from Carlson Integrated, not to mention shipping the labor from Illinois to here in Connecticut where we, we need it. Although two years of kids not, not under, not going to shop class, I think is a clear reason why you're having such a shortage. I mean, it's gotta be, uh, and, and you, me, we, the industry itself in Connecticut, that all being said, um, Where do you see marketing going over the next five years now, now that he opened the door?
Dan, you opened the door, Becca, let's go around and see paces coming next. And as well, look,
[00:40:28] Bekah Carlson: just as in, in real estate technology and, and in all psych, in every new disruptive technology area, there's proliferation and then there's consolidation. Mm-hmm. . So I would anticipate that there's gonna be continued.
We're seeing a little bit of consolidation as far as marketing platforms and marketing tools that are out there. There are proliferations and adoption pieces, but certainly just as in real estate tech, during the, um, during the pandemic, there was increased adoption of some, some more simplistic, maybe online tools that are more user friendly.
All of those pieces. UX is always a priority as it relates to IT to marketing tools in particular. So I do think that we'll see increased consolidation. I'm sure there will be continued innovation. Gosh, five years from now there's gonna be some other social media platform. There has to be by then that everybody's gonna wanna adopt.
All the new adopters are gonna try out. And let's see, I guess we've got music, we've got photographs and videos, we've got words and narrative.
[00:41:38] Andreas Senie: We cap auto captions on videos. There's a lot, there's a lot happening in ai. Mm-hmm. . Yeah. There's
[00:41:43] Bekah Carlson: a lot happening on ai. And uh, you actually sent me some really interesting Gary v footage of where he sees this next era going and where the opportunities are in marketing, which I thought was really interesting.
And that was, I, my biggest takeaway from that footage was, uh, YouTube shorts versus Instagram stories, because there's so much saturation in that, in that channel and in that tool, right. These are, these are only beneficial and they're only. Appropriate to use if they're the tools that reach your audience, and I have that conversation with local businesses on occasion.
You don't want 2 million people watching your video of you doing X, Y, Z. You need 20 people to walk in your door and sign up for class this month. What's
[00:42:31] Andreas Senie: the return on your investment?
[00:42:32] Bekah Carlson: Totally different goals and totally different content. If your content isn't driving people to actually do business with you, why are you spending money building it and developing it?
Why are you building this brand if you have two physical locations? Again, you don't need 2 million people watching somebody do something related to your product or service. You need people to walk into your business. Mm-hmm. , it's very different. So maybe you should be doing Google My Business advertising versus.
Making a bunch of videos on, on Instagram.
[00:43:05] Andreas Senie: Well, unless you want to be in a, a micro, I'm gonna butcher this. A micro, micro influencer, all these other new social media titles, right. That make huge money, six figure salaries, apparently. Um, butch, and maybe they
[00:43:17] Bekah Carlson: do, but most of us as small, but that's their business.
Business owners Yeah. Aren't trying to just become famous. We're trying to run our business. Yeah, that's right. Their different goals.
[00:43:28] Andreas Senie: Well, and I, I've gotta pause here and say, so for the next quarter, given the, in a real, in a, in a quick, uh, soundbite, what would you advise people to do over the next month in their downtime thinking five years out, but focused on the next six months, three months?
Cuz you've, because as we all mentioned, that the downtown downtime is here. Excuse me.
[00:43:49] Bekah Carlson: Look, I think there's gonna be such a retrenching of.
[00:43:52] Andreas Senie: Reach frenching. A budget. Okay. Yeah.
[00:43:54] Bekah Carlson: And look, I think marketing is one of the first things to go for a lot of companies. And it certainly in the commercial real estate space, marketing teams kind of dwindle in fewer members and those pieces.
So my recommendation is to build systems that don't require as much time to execute. Use automation, use Creos, ,
[00:44:20] Andreas Senie: my social tool and others. Wow. I'm getting a lot of bugs, guys. Thank you. Um, and I love that retooling is a huge thing. What are we investing in? How are we investing is an ongoing factor. I mean, clearly, Chris, you've gotta get more labor out there, so you've gotta do some memes and get into the, to the new, the next generation.
But I'm not sure I, construction wise, five years from now, I mean, what, what's the We can't continue this way.
[00:44:48] Chris Able: No, no. I mean it's definitely, um, It's definitely gonna get tougher before it, before it gets better. But I think what we're gonna see over, you know, the next several years is, I mean, some of these companies, you know, if they're getting older, you're gonna, you're gonna see more of, and I'm already seeing it now.
You're gonna see more of the mergers, you're gonna see more of the, the. The big fish and the pond kind of swallowing up, uh, the smaller fish in pen. Yeah, yeah, yeah, yeah. Now, I, I've noticed from a marketing and branding perspective over, let's say a few years ago, um, without really putting too much of a number on it, there would be more of, let me buy this company.
And that's gonna be a, in, in the brand. They bring the brand over to it and say, Hey, if this is, you know, abc, whatever company, now we're gonna buy xyz, but we're gonna call it ABC and we want our logos everywhere. Now I'm starting to see, um, for instance, uh, like a fire protection company is out there snatching up a lot of these different companies, but they're letting them operate kind of independently on the, on the back end.
What, what I enjoy about that is from my perspective of membership, membership association, it gives me more people to say, Hey, so and so told me to come and talk to you and join and, you know, that's the way they're kind of building, but I'm, so, I'm gonna. I think there's gonna be more merging going on.
There's gonna be more bio. Cuz the people who are getting older, there's not necessarily the son and daughters that want to take over these companies. Like, like they're, like, they may have got it from their parents and grandparents. There's not as much of that. Um, a lot of the, the kids that are coming back and they're coming back because they, they, they went one direction and now they're like, you know what, maybe, maybe this is what I should do.
But at that point, um, you know, they're already looking onto different factors. Is it better off for us to sell? And then you can go and do your own thing and we'll help, help fund it that way. The other thing is some of the younger demographic that is doing well, they're some of the ones that are out there seeing the opportunities and snatching up some of these other companies.
Mm-hmm. , um, you know, if, if a company is doing concrete and, and is able to, to, um, and I'm not saying contracting concrete, but if that's their material and they find a, you know, a sand and gravel. Uh, place that is, they're picking 'em up. They're grabbing it, and, and they're, and they're getting stronger and stronger.
And that's good for those, uh, people in there. And then the employee side of things, they, it's such a, a different climate than it was even when I was a little bit younger, where you really need to go back to that idea of, listen, we can't lose you after two or three years. We need to find ways for, these companies need to find ways to be able to get talent and keep that talent.
And maybe that is part of the plan where, okay, we're gonna go out and we're gonna buy this and you're gonna run that, but you have to stay with us. You gotta stick with us. Like they're trying to make it. You can't just build a, a nice building and, and a new office and expect that someone's gonna go, all right, this is where I'm gonna spend the rest of my, you know, 10, 15 years now because someone else is gonna buy, is gonna offer more money, or they're gonna build a nicer building.
It's just gonna kind of keep going. So I've seen. And I'll keep this super short cause this could be a whole other topic, but I've seen a couple of companies, one company in particular that are now creating this, these programs that are focused on the goals of the employees.
[00:48:19] Andreas Senie: All right? So Amazon was offering, as an example, they were saying, here, we'll get, we'll pay for your college education.
It's gonna take you seven years, but now we've got you
[00:48:28] Chris Able: for 10. Now that, that, that is absolutely, but that is something that's been around. If you wanna work somewhere, you can get someone to help you pay a college. I'm talking about their personal goals in regards to, um, what do you want to do, what do you want out of life?
Do you wanna, do you wanna, uh, recent story when the employees always want to write a. . So they embraced the goals of this employee to say, listen, we're gonna help you do this. We're gonna help you do that. You know, you're gonna work for us, but here's some different ideas. And they're building these resources to kind of keep people.
Now it could be a slippery slope, especially in construction, where just like anything else, melt to health and all that stuff's a factor. You might uncover some, you know, some things you don't want to hear. Um, but what is your goal? Do you wanna go from rent to buy? Do you wanna go? And they're really trying to embrace the goals of, of their, not only their key employees, but even their, their, their, all their employees to try to find out how can we help you reach goals to keep you happier as a human being, which is essentially gonna keep you happier.
It's, it can get very complicated. I was really impressed by this one particular company in Canada that's really, I thought they were offer. When I heard all about it, I thought they were a consulting service that would come into a company to help to do this. Yeah. But
[00:49:50] Andreas Senie: it wasn't that you understand your workforce and, and connect
[00:49:53] Chris Able: almost These were two or three people that ran the program for the company.
It was almost like an HR extension. Like, yeah, hrs gonna take care of this. But this was almost like a wellness slash hr. It was really, really wild. I'm, I'm gonna try to find some, um, some articles on the company. They
[00:50:14] Andreas Senie: should be influencers on social media, cuz it sounds like they've got, uh, some great content.
[00:50:18] Chris Able: had to say. Now the other part of that real quick is how, Becky, you mentioned how marketing, you know, could be the first to go with some of these companies. You don't get a couple jobs in contracting and a big one come, you know, you don't get a couple big jobs. How quickly does that program Yeah.
Really get scrutinized to the point where they're like, we're, we're, we're paying. This amount just to try to keep our people happy. We need to build. So it, it's a, it's, I don't know. I'm gonna, I'm gonna pop a link to, to to to to all of you. Maybe we could dip into a little bit. But it, it's interesting stuff that I'm seeing out there.
Totally outside the box. I've never seen anything really like it.
[00:51:01] Andreas Senie: New. It's a new world and Absolutely. And
[00:51:05] Chris Able: providing value, but from like the employer providing value, like I come from a value world. I need to, it's just, it's cool stuff. It's really unique
[00:51:15] Andreas Senie: stuff. Well, it's a relationship. Your employer, you, you're, you know, a lot of, yes, there was this great migration, right?
The great layout. Not, not layoff. There was a great shift in employment. Um, and you could argue that the, there was no employee, employee loyalty. But if you spend five years, 10 years, and it's coming back to inland on this one, cause you guys have a great culture with a company and you leave for whatever reason.
It, there should be a good one. I mean, you invested 10 years with that company. It should never be a, um, a bad change or 15 or 20, whatever the number is. Um, so before we talk about the CPAC side of it, it, I think you're spot on. My, my brokerage guys in every business that I've ever been involved in or consulted with, it's if you don't know your employees and you don't value them, and you don't show the show, you value them some way, bonuses, whatever the incentives are, um, and everybody's incentive is different, then you lose 'em.
That's not new, but it's, it's certainly something that's kind of been forgotten, I think, in all the tech of it, in the texting and that personal connection. And as far as five years from now for CPAs, Anna Maria, we know where that's headed. 10 years, you know, global commitment, zero net car, net zero carbon emissions.
You've got all the regulation behind you to get this done. But what does the next six months look like for cpac and, well, you know, I,
[00:52:38] Anna Maria Kowalik: I think, uh, we're seeing a lot of things that were just talked about. Um, the, uh, industry is evolving and, um, uh, there, there's a, a movement, uh, across, uh, the industry organizations, uh, in this area to, um, uh, make things a little bit more uniform across the country.
And, um, It, you know, so that there's not too much of a program, uh, change between, uh, one state or another, uh, to make, uh, cross deals and, uh, uh, people who own properties, uh, across state lines, uh, feel comfortable with, uh, moving forward. Uh, we've seen some consolidation in the industry, uh, some, uh, mergers and, um, all kinds of, uh, uh, you know, Attempts to, uh, make the, the industry more solid, uh, with that firm foundation to really grow for the future.
Uh, because there's so much growth potential in this area. I mean, who doesn't want to save, uh, money on utility bills? Who doesn't want to improve their properties? Uh, and improving the experience, not just for themselves, but uh, for tenants in their buildings, uh, you know, who doesn't want to, uh, not contribute to, uh, uh, weather changes and, and, and their world climate issues.
And so, uh, you know, We, we all have a, a lot of, um, basic goals. Uh, and, uh, it, the future is green, as I've always said, ,
[00:54:35] Andreas Senie: um, that's, uh, the future is green and it's, it's, it's certainly a focus in regulation. Uh, regulation doesn't hurt every owner's on board. We're getting on board and, and it's capital that's readily available.
Um, I'm personally very curious to see what happens with all the Brownfield, uh, sites. They're always centrally located, they're always beautiful throughout the us and as we have this land shortage, scarcity, who knows? But some, uh, there's a few words you hit on and that everybody hit on. Uh, growth opportunity.
Human connection sounds a lot like mentorship and teaching, which now I'm gonna go back to Dan. Given that it's inland as a whole, how are, how's inland retaining, I mean, what your culture is? To teach and to mentor, I mean,
[00:55:21] Dan Wagner: yes. Yeah. I think what, uh, what we, we try to do here, uh, starting at the top is the, the four teachers are still, uh, involved and active in running the company.
And they're, they got the, their hand on the, on the wheel, and it's about teaching and constantly, uh, making sure to keep up to date with everything that's going on. We, we encourage, uh, people to be involved in the different associations that are in their area, and I know for one, I absolutely love being a part of like the Chicago.
Association, realtors, the Main Street Association, realtors, realtors, land Institute, um, all stuff at nar, you know, all these different groups because you're exposed to so many different people. And especially, I real, really wanna highlight the, um, the millennials, the younger folks are real helpful to me and challenging me to be aware of.
It's not just Facebook out there, it's not just there's a meta metaverse and Oh my God.
[00:56:19] Andreas Senie: Yeah. . You really went there. Three .
[00:56:23] Dan Wagner: No. Anyway. Yeah, so that's, I know we're, But that's a big deal is just to be constantly challenging yourself and to get outta your comfort zone. And I think, um, that's what we do at Inland.
Um, you know, you look at a new company that, uh, that's somewhat nascent here at Inland is C Pace. Um, we're constantly looking at new things and, and, and that's what Dan Goodwin, um, And the the founders do is that they always are challenging everybody to keep up to date and be aware of the latest things going on.
But, um, ultimately it's a family and people are, are really respected and it, and that's why people stay. People have been here for, you know, 30 years, 20, 40 years and cause every, you know, so, yeah. How
[00:57:08] Chris Able: long have you
[00:57:08] Dan Wagner: been here in Maria? I've been here 19 years inland. How long have you been here?
[00:57:12] Anna Maria Kowalik: Uh, longer than you, Dan.
So, uh, actually it's, it's 20, almost 23 years.
[00:57:19] Dan Wagner: Wow. Yeah. So it's, yes, it's just, it's a family. It's a wonderful family place and people, uh, take care of one another and each, everybody has their back and it's, uh, transparency and ethics and the way you're treated, I mean, the ethics is just such a huge part of, of this.
And these four teachers came from, you know, are, are just. You know, one guy's dad was a janitor, another person was a barber. Um, I mean, they, you know, they just came from nothing. And, and I think that's, that, that's a big deal is that people are, are real. And, uh, when you don't have people that are silver spoon folks, uh, I think they know where they came from.
And I think that those, you know, Midwestern roots are really valuable. So I think that's a big
[00:58:01] Andreas Senie: deal in Northeastern, you know, just, but yes, , yeah, yeah, yeah. , um, for those, for the few of us on the call this month, , but it's, um, what a great, what a great way to, to, to get towards the end of the show. So, family, family, network, collaboration, I mean, really finding that.
That connection with those you work with and finding, finding those you don't work with to call on and, and be mentors, teachers outside of Inland, cuz Inland does mentorship, I believe, as well as some of the, some of these other groups and, and
[00:58:36] Dan Wagner: these associations are so important. Like, I can't overemphasize how good it is cuz you, you really, you, you get to meet the, the young folks that are coming into the industry.
You have the, the staff that are on the up, up to date on the latest things that are happening, the trends that are happening. Like I mentioned Lawrence y it'd be so great to have him on a call because I mean, he's just like the guru. He's like, The PhD in this stuff.
[00:58:57] Andreas Senie: So we're, we're gonna tag him on this, on this episode.
Tell him we mentioned it nine times and Yeah. No, I'm all for it. Okay. Let's bring him on for a sector interview and let's have him on. I'd love it. The new year. The new year is gonna bring incredible opportunities. So anybody who's, in my opinion and many opinions, all the brokers, I talk to, investors, developers, it's just a matter of finding the right opportunities.
I'm 2015. I, I, I would say it constantly. I am lucky enough to be doing business in an, in an age where I can go find as many deals as I want. I still have to go find them. But it's much easier to do. So the tools are there, the people are there, everybody wants to help. It's not so opaque an industry that you can't get a foothold.
You can't build something great. Inland, built an incredible thing. 70 billion plus 52 years, I think. Um, I'm reading from the flyer over here, just so you know. Uh, . No, I remember seeing, I, I actually used one of your tear sheets as an example for another company. I was talking to you, I was like, this is how you tell your story corporately clear message, one page, flip it over services, uh, that you guys published in, uh, on your 50th anniversary.
Yep. So it was just a great piece. Well, this, well,
[01:00:12] Dan Wagner: very grateful for you. Very grateful for this experience. So thank you for this, uh, fun, uh, fun time every month and I look forward to 2023. So I wish you guys the best for this holiday.
[01:00:23] Andreas Senie: And, and a happy New Year to our listeners as well. Saul will be back, then, will be back.
I'm hoping everyone else will be back. I know you will. I'm just kidding. I'm looking forward to it. Mr. Mendoza, where can we reach everyone? Run us through our, our, our outro. I I want to thank all our listeners, guys, we have prone incredibly this year and we're gonna grow incredibly next year as people, as professionals, as a show itself.
Follow us, find us. We are available anywhere you get your audio, video, all the social media channels where you're not a social media influencer by definition. Or we might be, I don't know, catch us next month to find out. But more importantly, have a wonderful holiday season and if you have a question, reach out Very Christmas.
Uh, happy hanock, Merry Christmas and all the other interrelated holidays and most importantly, happy New Year. Absolutely. Thanks again, Mendoza.