1 00:00:00,000 --> 00:00:03,120 Welcome to Between Two Chairs, 2 00:00:03,120 --> 00:00:05,200 demystifying commercial real estate, 3 00:00:05,200 --> 00:00:07,800 the podcast that brings you the latest insights and 4 00:00:07,800 --> 00:00:11,000 trends on the South Florida commercial real estate market. 5 00:00:11,000 --> 00:00:15,520 With your hosts, Fernando Adonisibia Jr. and Jennifer Wallman. 6 00:00:15,520 --> 00:00:18,160 In each episode, we dive into the world of 7 00:00:18,160 --> 00:00:20,280 commercial real estate and break down 8 00:00:20,280 --> 00:00:23,800 complex concepts to make them accessible for everyone. 9 00:00:23,800 --> 00:00:26,280 Whether you're a real estate professional, 10 00:00:26,280 --> 00:00:29,080 a curious investor, or just interested in 11 00:00:29,080 --> 00:00:31,120 the South Florida market in general, 12 00:00:31,120 --> 00:00:33,920 Between Two Chairs is the podcast for you. 13 00:00:33,920 --> 00:00:35,840 So pull up a chair and join us. 14 00:00:35,840 --> 00:00:54,240 Welcome everybody to another episode of Between Two Chairs. 15 00:00:54,240 --> 00:00:55,960 My name is Fernando Adonisibia Jr. 16 00:00:55,960 --> 00:00:58,280 Thank you as always for joining us. 17 00:00:58,280 --> 00:01:03,880 And with me is the ever effervescent and energetic. 18 00:01:03,880 --> 00:01:05,200 And courageous. 19 00:01:05,200 --> 00:01:06,760 Overall amazing. 20 00:01:06,760 --> 00:01:08,640 And courageous. 21 00:01:08,640 --> 00:01:10,760 Yes, Jennifer Wallman. 22 00:01:10,760 --> 00:01:12,440 Hi Jennifer, say hi. 23 00:01:12,440 --> 00:01:13,800 Hello, hi. 24 00:01:13,800 --> 00:01:15,600 I didn't follow instructions, hi. 25 00:01:15,600 --> 00:01:19,800 So you mentioned courage. 26 00:01:19,800 --> 00:01:20,640 Yes. 27 00:01:20,640 --> 00:01:23,000 And we have done this really interesting thing 28 00:01:23,000 --> 00:01:24,400 since we started the podcast, 29 00:01:24,400 --> 00:01:27,920 which is we have this kindergarten reading series. 30 00:01:27,920 --> 00:01:32,600 And I want to invite all the boys and girls who are listening, 31 00:01:32,600 --> 00:01:35,960 all the humans from around the world, 32 00:01:35,960 --> 00:01:40,920 pull up a chair and listen as we discuss a book 33 00:01:40,920 --> 00:01:47,800 written by Susan Verdi called I Am Courage. 34 00:01:47,800 --> 00:01:48,840 A book of resilience. 35 00:01:48,840 --> 00:01:51,280 A book of resilience. 36 00:01:51,280 --> 00:01:53,160 Perfect timing, Jennifer. 37 00:01:53,160 --> 00:01:54,720 A book of resilience. 38 00:01:54,720 --> 00:01:58,520 I like that we've been doing this and I like 39 00:01:58,520 --> 00:02:01,440 out of left field ideas that are connected 40 00:02:01,440 --> 00:02:05,800 because I think so many things in life are interconnected. 41 00:02:05,800 --> 00:02:08,880 And I think it's great that we get to dive 42 00:02:08,880 --> 00:02:10,320 into some of these things. 43 00:02:10,320 --> 00:02:13,320 And a lot of it for you guys that are listening 44 00:02:13,320 --> 00:02:15,520 is grows out of this idea that everything 45 00:02:15,520 --> 00:02:18,320 that I ever needed to know, I learned in kindergarten. 46 00:02:18,320 --> 00:02:20,920 And so Jennifer and I are big believers in that. 47 00:02:20,920 --> 00:02:23,840 And because she is an amazing grandmother, 48 00:02:23,840 --> 00:02:27,520 I know that she is totally engulfed in the world 49 00:02:27,520 --> 00:02:30,520 of kids books at this stage. 50 00:02:30,520 --> 00:02:31,480 I think it's wonderful. 51 00:02:31,480 --> 00:02:34,840 So how do we go about this? 52 00:02:34,840 --> 00:02:37,760 So confession, the reason I have these books 53 00:02:37,760 --> 00:02:39,800 is not because I'm a grandma. 54 00:02:39,800 --> 00:02:40,320 Really? 55 00:02:40,320 --> 00:02:43,600 It's because I believe in simple messaging 56 00:02:43,600 --> 00:02:46,320 and keep it simple, stupid. 57 00:02:46,320 --> 00:02:48,040 And this keeps my attention. 58 00:02:48,040 --> 00:02:51,280 And so I find real estate applicable 59 00:02:51,280 --> 00:02:53,400 in just about every children's book. 60 00:02:53,400 --> 00:02:55,840 And this is a lot easier reading than some 61 00:02:55,840 --> 00:02:57,600 of the big, heavy books. 62 00:02:57,600 --> 00:03:00,000 So yeah. 63 00:03:00,000 --> 00:03:03,400 I wish I could say it was because of my grandkids. 64 00:03:03,400 --> 00:03:07,160 But what you really didn't have to tell anybody. 65 00:03:07,160 --> 00:03:11,080 We would have just assumed. 66 00:03:11,080 --> 00:03:15,560 You didn't have to disclose that you're walking in a bookstore. 67 00:03:15,560 --> 00:03:17,480 Let's say we're back in 1990 and you're actually 68 00:03:17,480 --> 00:03:19,360 buying it from a bookstore. 69 00:03:19,360 --> 00:03:20,120 But you probably are. 70 00:03:20,120 --> 00:03:20,640 I did. 71 00:03:20,640 --> 00:03:21,360 Yeah, exactly. 72 00:03:21,360 --> 00:03:22,640 You're walking in a bookstore. 73 00:03:22,640 --> 00:03:23,400 Books and books. 74 00:03:23,400 --> 00:03:23,840 Books and books. 75 00:03:23,840 --> 00:03:24,960 I love books and books. 76 00:03:24,960 --> 00:03:25,880 That's so great. 77 00:03:25,880 --> 00:03:26,160 All right. 78 00:03:26,160 --> 00:03:28,120 So let's dive into the book. 79 00:03:28,120 --> 00:03:30,240 Do you want to read it? 80 00:03:30,240 --> 00:03:31,280 How do you want to go through it? 81 00:03:31,280 --> 00:03:33,880 So we've spent all month talking about how 82 00:03:33,880 --> 00:03:34,680 to get rid of scary. 83 00:03:34,680 --> 00:03:34,960 Right? 84 00:03:34,960 --> 00:03:36,480 It's October, scary month. 85 00:03:36,480 --> 00:03:39,600 We do these podcasts, these episodes all the time. 86 00:03:39,600 --> 00:03:41,680 And so sometimes we try to stick with the theme. 87 00:03:41,680 --> 00:03:42,680 Usually we don't. 88 00:03:42,680 --> 00:03:47,640 But this month it's kind of been scary from busting 89 00:03:47,640 --> 00:03:50,360 real estate myths to talking to attorneys, 90 00:03:50,360 --> 00:03:53,960 to trying to avoid scary issues that might come up 91 00:03:53,960 --> 00:03:55,520 during a transaction. 92 00:03:55,520 --> 00:04:00,040 And the reason I thought of this book 93 00:04:00,040 --> 00:04:04,000 is because we always talk about fear 94 00:04:04,000 --> 00:04:07,680 and how fear holds us back and fear cells. 95 00:04:07,680 --> 00:04:14,240 And I think we mentioned in our C5 CCIM episode 96 00:04:14,240 --> 00:04:17,920 when we were doing a recap that we're addicted to fear. 97 00:04:17,920 --> 00:04:21,040 That was Gunnar Branson who said, we're addicted to fear. 98 00:04:21,040 --> 00:04:22,960 We know that fear cells and everything else. 99 00:04:22,960 --> 00:04:25,720 So I thought instead of talking about fear, 100 00:04:25,720 --> 00:04:27,720 let's talk how to address fear. 101 00:04:27,720 --> 00:04:32,680 And so I find strong messages in children's stories. 102 00:04:32,680 --> 00:04:35,520 And the message on the front of this flap 103 00:04:35,520 --> 00:04:38,120 just really, really resonated with me. 104 00:04:38,120 --> 00:04:40,160 So I'm going to read it to you. 105 00:04:40,160 --> 00:04:42,680 It says, when we picture someone brave, 106 00:04:42,680 --> 00:04:44,560 we might think they're fearless. 107 00:04:44,560 --> 00:04:48,040 But real courage comes from feeling scared and facing 108 00:04:48,040 --> 00:04:50,760 what challenges us anyway. 109 00:04:50,760 --> 00:04:53,200 When our minds tell us I can't, we 110 00:04:53,200 --> 00:04:57,360 can look inside ourselves and find the strength to say, 111 00:04:57,360 --> 00:04:58,920 yes, I can. 112 00:04:58,920 --> 00:05:04,560 And to me, this resonated so much because I've 113 00:05:04,560 --> 00:05:05,800 told this story before. 114 00:05:05,800 --> 00:05:08,080 But when I first wanted to get into investing, 115 00:05:08,080 --> 00:05:11,000 I had already been involved in real estate 116 00:05:11,000 --> 00:05:13,560 for, I want to say, about 10 years. 117 00:05:13,560 --> 00:05:18,480 And I can't remember if I was already an LP in the syndication 118 00:05:18,480 --> 00:05:18,680 deal. 119 00:05:18,680 --> 00:05:19,840 I don't think I was. 120 00:05:19,840 --> 00:05:22,360 I think my husband and I were trying to do this on our own. 121 00:05:22,360 --> 00:05:24,080 And God bless my husband, Carlos. 122 00:05:24,080 --> 00:05:25,480 He's always supportive. 123 00:05:25,480 --> 00:05:28,160 And he's way more fearless than I am. 124 00:05:28,160 --> 00:05:33,000 And I let fear get the better of me. 125 00:05:33,000 --> 00:05:37,480 I imagined us living under I-95 and me bankrupting us. 126 00:05:37,480 --> 00:05:39,520 And I was like, it was ridiculous. 127 00:05:39,520 --> 00:05:45,040 There was no rational explanation for what I was doing. 128 00:05:45,040 --> 00:05:47,840 And I got out of a house that we had bought 129 00:05:47,840 --> 00:05:51,200 at the height of the recession in Coral Gables. 130 00:05:51,200 --> 00:05:52,520 Beautiful area. 131 00:05:52,520 --> 00:05:57,360 We got it for, we were under contract for $250, I think, 132 00:05:57,360 --> 00:05:58,360 maybe $240. 133 00:05:58,360 --> 00:06:00,440 I probably could have gotten it for about $210 134 00:06:00,440 --> 00:06:04,240 after inspections because it showed some pretty big things. 135 00:06:04,240 --> 00:06:06,680 I mean, there were subterranean termites, which 136 00:06:06,680 --> 00:06:08,840 are scary in and of themselves. 137 00:06:08,840 --> 00:06:11,840 So I lost that deal. 138 00:06:11,840 --> 00:06:14,960 And I was getting ready to lose another deal when I finally 139 00:06:14,960 --> 00:06:16,040 did the phone a friend. 140 00:06:16,040 --> 00:06:21,720 And this book, just in very simple ways, 141 00:06:21,720 --> 00:06:26,160 tells us how to dig deep and find the courage 142 00:06:26,160 --> 00:06:27,120 to get through that. 143 00:06:27,120 --> 00:06:30,280 And this year has been a super challenging year 144 00:06:30,280 --> 00:06:34,200 for a lot of people, period, whether it's in real estate 145 00:06:34,200 --> 00:06:37,520 or not, whether it's the economy, high interest rates, 146 00:06:37,520 --> 00:06:40,720 the geopolitical landscapes, the horrible weather. 147 00:06:40,720 --> 00:06:44,880 We've had fires, floods, hurricanes, and all of those 148 00:06:44,880 --> 00:06:48,680 things, and the uncertainty cause uncertainty, fear, 149 00:06:48,680 --> 00:06:49,800 and desperation. 150 00:06:49,800 --> 00:06:54,120 And there was another book that we did this on, which 151 00:06:54,120 --> 00:06:55,600 was, oh, the places you'll go. 152 00:06:55,600 --> 00:06:57,600 And they talk about the waiting room. 153 00:06:57,600 --> 00:07:00,280 And I think a lot of people get stuck in the waiting room 154 00:07:00,280 --> 00:07:02,040 because of fear. 155 00:07:02,040 --> 00:07:04,760 And how do you get unstuck? 156 00:07:04,760 --> 00:07:06,840 How do you find the courage to get out? 157 00:07:06,840 --> 00:07:11,160 So this book talks about digging deep into your courage, 158 00:07:11,160 --> 00:07:14,040 trusting your gut, accepting the challenge, 159 00:07:14,040 --> 00:07:17,600 and finding the strength to go on. 160 00:07:17,600 --> 00:07:20,880 We wear so many hats in our day-to-day life 161 00:07:20,880 --> 00:07:23,240 and in our professional life as well. 162 00:07:23,240 --> 00:07:26,000 And a lot of times when we're processing information, 163 00:07:26,000 --> 00:07:30,000 you and I, I mean, we're thinking about, obviously, 164 00:07:30,000 --> 00:07:31,680 our families, the people that we know, 165 00:07:31,680 --> 00:07:35,160 the people that we care about, our friends, our colleagues. 166 00:07:35,160 --> 00:07:38,680 We also always are thinking about the consumer, 167 00:07:38,680 --> 00:07:41,800 and we're thinking also about the broker, 168 00:07:41,800 --> 00:07:43,720 and helping the broker help the consumer, 169 00:07:43,720 --> 00:07:48,720 and so I'm always trying to draw lessons from something 170 00:07:48,720 --> 00:07:49,680 as simple as this. 171 00:07:49,680 --> 00:07:52,880 And if I may read just a couple of the sections, right? 172 00:07:52,880 --> 00:07:54,240 It's really at the start of the book, 173 00:07:54,240 --> 00:07:57,800 but it'll lead to a question that I have for you. 174 00:07:57,800 --> 00:07:59,600 This is the beginning of the book. 175 00:07:59,600 --> 00:08:02,040 When there are challenges in front of me, 176 00:08:02,040 --> 00:08:05,800 when I feel unstable, like I might fall, 177 00:08:05,800 --> 00:08:08,960 and I think about turning back or giving up, 178 00:08:08,960 --> 00:08:12,160 when my mind tells me I can't, I look inside myself 179 00:08:12,160 --> 00:08:15,240 and find the strength that lives deep down, 180 00:08:15,240 --> 00:08:18,280 and I tell my mind, yes, I can. 181 00:08:19,640 --> 00:08:21,960 I have faith in what's possible. 182 00:08:21,960 --> 00:08:25,600 I accept the challenge and keep on going. 183 00:08:25,600 --> 00:08:28,680 And this is where it's the first thing, 184 00:08:28,680 --> 00:08:33,680 because where do people draw the faith in what's possible? 185 00:08:34,120 --> 00:08:38,040 It's such an optimistic phraseology, right? 186 00:08:38,040 --> 00:08:39,480 I have faith in what's possible. 187 00:08:39,480 --> 00:08:42,480 I accept the challenge and keep on going. 188 00:08:42,480 --> 00:08:45,880 And of course, there's an illustration of this child 189 00:08:45,880 --> 00:08:49,080 who is in a bike about to cross a bridge, 190 00:08:49,080 --> 00:08:51,360 but we don't know where that bridge leads to, right? 191 00:08:51,360 --> 00:08:52,200 And it's dark. 192 00:08:52,200 --> 00:08:54,600 And it's dark and it is scary, 193 00:08:54,600 --> 00:08:56,560 but I wanted to ask you that, 194 00:08:56,560 --> 00:08:59,680 where do people really find the faith in what's possible? 195 00:08:59,680 --> 00:09:02,920 Because oftentimes, as you mentioned, 196 00:09:02,920 --> 00:09:06,600 fear is predominant in our daily lives, right? 197 00:09:06,600 --> 00:09:10,240 So it really is as simple as it is stated, 198 00:09:10,240 --> 00:09:13,560 it is a deep question about having faith in what's possible. 199 00:09:13,560 --> 00:09:18,560 Well, and I think finding that faith 200 00:09:20,320 --> 00:09:21,360 takes different forms. 201 00:09:21,360 --> 00:09:23,680 There was a game show, I can't remember what it was, 202 00:09:23,680 --> 00:09:25,640 but they would throw out lifelines, 203 00:09:25,640 --> 00:09:27,040 like if you didn't know the question. 204 00:09:27,040 --> 00:09:29,120 It was phone a friend, I can't remember what, 205 00:09:29,120 --> 00:09:30,080 I can't remember what. 206 00:09:30,080 --> 00:09:32,760 So guess what my faith is and how I find it. 207 00:09:32,760 --> 00:09:34,360 You're talking about the millionaire. 208 00:09:34,360 --> 00:09:37,040 I have no idea, I just remember, 209 00:09:37,040 --> 00:09:38,680 I mean, I didn't watch the show. 210 00:09:38,680 --> 00:09:40,000 Jessica, what was that show? 211 00:09:40,000 --> 00:09:40,840 Who wants to be a millionaire? 212 00:09:40,840 --> 00:09:41,960 Who wants to be a millionaire? 213 00:09:41,960 --> 00:09:43,640 Yeah, and what were the three things? 214 00:09:43,640 --> 00:09:46,680 Oh, it was 50-50, so they will take 50% 215 00:09:46,680 --> 00:09:48,640 of the questions out. 216 00:09:48,640 --> 00:09:50,440 It was ask the audience. 217 00:09:50,440 --> 00:09:52,160 Okay, and phone a friend. 218 00:09:52,160 --> 00:09:53,720 Well, I remembered phone a friend. 219 00:09:53,720 --> 00:09:56,640 So that's how I dig deep. 220 00:09:56,640 --> 00:10:00,480 Like in the situation that I told you about the house 221 00:10:00,480 --> 00:10:03,880 when I was getting ready to pull out of our second investment, 222 00:10:03,880 --> 00:10:05,840 and I was kicking myself, because I knew. 223 00:10:05,840 --> 00:10:08,320 My brain knew what was going on. 224 00:10:08,320 --> 00:10:10,640 My brain knew that I had done the research, 225 00:10:10,640 --> 00:10:13,200 that it was a great buy, that it was a great location. 226 00:10:13,200 --> 00:10:15,840 I'd done everything right, 227 00:10:15,840 --> 00:10:18,600 but, and my gut was telling me it was good, 228 00:10:18,600 --> 00:10:20,800 and my brain was like, run away, run away, 229 00:10:20,800 --> 00:10:22,760 you're gonna bankrupt your family. 230 00:10:22,760 --> 00:10:26,720 And so, I trusted in my gut, 231 00:10:26,720 --> 00:10:29,440 but I knew that I needed help getting out of my brain, 232 00:10:29,440 --> 00:10:32,680 and I phoned a friend who had the money to bail me out 233 00:10:32,680 --> 00:10:35,280 so that I wouldn't live under I-95, 234 00:10:35,280 --> 00:10:37,520 even though that was never a possibility, 235 00:10:37,520 --> 00:10:39,760 because I was only gonna be on the hook 236 00:10:39,760 --> 00:10:40,800 for the down payment. 237 00:10:40,800 --> 00:10:43,760 Like it was so ridiculous, and so I phoned a friend, 238 00:10:43,760 --> 00:10:48,080 and I think that's what's so great about, 239 00:10:48,080 --> 00:10:51,080 so wherever you find faith, it can be in your church, 240 00:10:51,080 --> 00:10:54,000 it can be in your family, it can be in your friends, 241 00:10:54,000 --> 00:10:57,200 it could be in people you know in the industry, 242 00:10:57,200 --> 00:11:00,680 and that's why I love this women in real estate group 243 00:11:00,680 --> 00:11:03,240 that Beth created, because the theory 244 00:11:03,240 --> 00:11:06,160 and the philosophy there, and it was actually based 245 00:11:06,160 --> 00:11:09,080 on a conversation that she and I had about fear, 246 00:11:09,080 --> 00:11:11,480 because Beth had a similar experience 247 00:11:11,480 --> 00:11:14,520 when she was starting her investment, 248 00:11:14,520 --> 00:11:16,160 her own personal investments, 249 00:11:16,160 --> 00:11:17,800 even though she had been in the industry 250 00:11:17,800 --> 00:11:20,760 and been killing it as a landlord and tenant rep 251 00:11:20,760 --> 00:11:23,720 for a gazillion years and knew the markets, 252 00:11:23,720 --> 00:11:26,480 and the fear got in, and she lost a deal. 253 00:11:26,480 --> 00:11:28,040 So we were talking about that, 254 00:11:28,040 --> 00:11:31,480 and so like in this case, she created this event 255 00:11:31,480 --> 00:11:34,560 for women who want to invest, but have fear 256 00:11:34,560 --> 00:11:39,200 to have the support group that they need 257 00:11:39,200 --> 00:11:42,520 to get beyond that and to help build courage, 258 00:11:42,520 --> 00:11:44,760 so I don't know if that answered your question, 259 00:11:44,760 --> 00:11:45,840 how about you? 260 00:11:45,840 --> 00:11:48,120 You know what I find really interesting here 261 00:11:48,120 --> 00:11:50,480 is that faith in what's possible, 262 00:11:51,320 --> 00:11:54,280 it's I think something that permeates 263 00:11:54,280 --> 00:11:56,200 through every entrepreneur. 264 00:11:56,200 --> 00:12:01,200 You start on a journey having faith in the possibility. 265 00:12:02,840 --> 00:12:07,840 The phraseology here is incredibly smart, 266 00:12:09,160 --> 00:12:11,800 because it's not I have faith 267 00:12:11,800 --> 00:12:13,200 that everything is gonna be okay. 268 00:12:13,200 --> 00:12:17,440 It's not I have faith that we'll figure it out. 269 00:12:17,440 --> 00:12:22,440 It's having faith in that there is a possibility out there 270 00:12:22,440 --> 00:12:27,440 that draws us to cross that bridge in the dark, right? 271 00:12:27,720 --> 00:12:30,200 And the following sentence, 272 00:12:30,200 --> 00:12:32,000 I accept the challenge and keep on going, 273 00:12:32,000 --> 00:12:35,160 and it's that idea of you have faith 274 00:12:35,160 --> 00:12:38,000 in the good things that you can create 275 00:12:38,000 --> 00:12:41,520 and the possibilities of this endeavor, right? 276 00:12:41,520 --> 00:12:43,400 But you have no guarantee, 277 00:12:43,400 --> 00:12:47,160 and we both live in the fact that we predominantly 278 00:12:47,160 --> 00:12:49,960 focus on the fear and the negativity 279 00:12:49,960 --> 00:12:53,040 and not only what gets fed at us, 280 00:12:53,040 --> 00:12:54,560 but the things that we worry about, 281 00:12:54,560 --> 00:12:55,880 but at the same time, 282 00:12:55,880 --> 00:12:59,040 there's something that gets you up every morning to say, 283 00:12:59,040 --> 00:13:00,720 I'm going to go attack that. 284 00:13:00,720 --> 00:13:02,680 I have no idea how it's gonna work out, 285 00:13:02,680 --> 00:13:07,680 but I love this sentence of I accept the challenge, right? 286 00:13:08,720 --> 00:13:11,840 And so, you know, like you mentioned at the beginning, 287 00:13:11,840 --> 00:13:14,720 and this is something that everyone has heard, 288 00:13:14,720 --> 00:13:16,560 courage is not the absence of fear 289 00:13:16,560 --> 00:13:18,600 is what you do in spite of it, right? 290 00:13:18,600 --> 00:13:22,440 And so, I love that idea of I'm just gonna keep going. 291 00:13:22,440 --> 00:13:24,960 And we've seen and we've done shows, 292 00:13:24,960 --> 00:13:27,480 podcast episodes where we've discussed this, you know, 293 00:13:27,480 --> 00:13:29,840 sometimes all you gotta do is just keep going, 294 00:13:29,840 --> 00:13:32,160 keep working, and all of a sudden, 295 00:13:32,160 --> 00:13:33,920 things begin to turn around, 296 00:13:33,920 --> 00:13:36,960 whether it's in your business, in your personal life, 297 00:13:36,960 --> 00:13:40,360 in your career, and the choices that you make 298 00:13:40,360 --> 00:13:42,000 have to be informed, I think, 299 00:13:42,000 --> 00:13:45,080 by having that faith in the possible. 300 00:13:45,080 --> 00:13:48,520 I agree, and look at what we did, right? 301 00:13:48,520 --> 00:13:50,360 Look at the big jump that we took, 302 00:13:50,360 --> 00:13:53,120 like two, almost, well, a year and a half ago, 303 00:13:53,120 --> 00:13:56,440 and left what we were doing, changed it up, 304 00:13:56,440 --> 00:14:00,080 and it was because of what's possible, right? 305 00:14:00,080 --> 00:14:02,840 We were scared, we were nervous, we were unsure, 306 00:14:02,840 --> 00:14:05,640 we don't know exactly what the outcome's gonna look like, 307 00:14:05,640 --> 00:14:08,640 but we believed in the possibility of what could be, 308 00:14:08,640 --> 00:14:11,600 so we took that jump, right? 309 00:14:11,600 --> 00:14:14,280 And, you know, again, we've stated before, 310 00:14:14,280 --> 00:14:17,320 you have to be comfortable being uncomfortable, 311 00:14:17,320 --> 00:14:22,320 and I think courage also gives you that, and so... 312 00:14:23,160 --> 00:14:26,720 Another lesson that I thought was really interesting is, 313 00:14:26,720 --> 00:14:29,880 as you read the story, there's a sentence, 314 00:14:29,880 --> 00:14:32,960 and this is something that I think it's important, 315 00:14:32,960 --> 00:14:36,320 is I can trust what my gut is telling me. 316 00:14:36,320 --> 00:14:39,640 Now, there's so many ways to break this down, 317 00:14:39,640 --> 00:14:41,880 because it's interesting, 318 00:14:41,880 --> 00:14:46,880 how do you know if your gut has the right instinct? 319 00:14:47,840 --> 00:14:50,600 You know, like what you instinctively feel, 320 00:14:50,600 --> 00:14:53,920 like my gut is telling me this is gonna be good, 321 00:14:53,920 --> 00:14:55,240 or this is gonna be bad, 322 00:14:56,520 --> 00:14:59,280 but there is an evolution in which you have 323 00:14:59,280 --> 00:15:01,920 to trust your gut, and when I read this, 324 00:15:01,920 --> 00:15:04,960 what I thought about was, oftentimes, 325 00:15:04,960 --> 00:15:07,000 especially when people enter a new industry, 326 00:15:07,000 --> 00:15:08,800 or let's say there's a new agent 327 00:15:08,800 --> 00:15:11,120 that is coming in right to the industry, 328 00:15:11,120 --> 00:15:16,120 it's very simple to begin to look at the process, 329 00:15:16,800 --> 00:15:18,200 to be bigger than what it is, 330 00:15:18,200 --> 00:15:21,080 meaning that, obviously, every industry has their own jargon, 331 00:15:21,080 --> 00:15:22,280 they have their own procedures, 332 00:15:22,280 --> 00:15:24,600 they have their own laws that they have to follow, 333 00:15:24,600 --> 00:15:26,640 their regulations, all those things. 334 00:15:26,640 --> 00:15:29,520 Sometimes we overcomplicate that situation, 335 00:15:29,520 --> 00:15:32,760 and at the end of the day, the agent is always working 336 00:15:32,760 --> 00:15:34,760 with another human being, right? 337 00:15:34,760 --> 00:15:37,360 And when you're working with a client and a human being, 338 00:15:37,360 --> 00:15:40,640 there are certain things that you viscerally feel 339 00:15:40,640 --> 00:15:43,720 in your gut, this doesn't feel right, 340 00:15:43,720 --> 00:15:45,920 and then some of those agents will come back to us 341 00:15:45,920 --> 00:15:48,960 and say, well, what does the law say? 342 00:15:48,960 --> 00:15:51,840 How do I handle this, and how do I address this? 343 00:15:51,840 --> 00:15:55,440 And I think that you begin to kind of give way 344 00:15:55,440 --> 00:15:58,400 of relying on your gut, I think that that part 345 00:15:58,400 --> 00:16:00,000 should never be removed. 346 00:16:00,000 --> 00:16:02,280 You could call it gut, you could call it common sense, 347 00:16:02,280 --> 00:16:04,480 you could call it a spidey sense, your instinct, 348 00:16:04,480 --> 00:16:08,000 whatever it is, but there is something there 349 00:16:08,000 --> 00:16:11,480 that I think you have to endeavor to develop 350 00:16:11,480 --> 00:16:15,040 and to continue to test so that you can continue to trust it. 351 00:16:15,040 --> 00:16:17,800 I agree, and I always tell my kids 352 00:16:17,800 --> 00:16:22,800 that when they're not sure, I'm like, look, write it down, 353 00:16:23,240 --> 00:16:25,240 write down everything that's in your brain 354 00:16:25,240 --> 00:16:27,800 because there's two parts of fear 355 00:16:27,800 --> 00:16:29,400 and there's two parts of courage, right? 356 00:16:29,400 --> 00:16:32,480 To me, there's gut or heart and head, 357 00:16:32,480 --> 00:16:35,720 and head is where the crazy is, right? 358 00:16:35,720 --> 00:16:37,960 The brain is crazy, it's a wild horse, 359 00:16:35,720 --> 00:17:04,640 It's crazy, it's a wild horse, they have that saying in Spanish, 360 00:16:37,960 --> 00:16:39,600 they have that saying in Spanish, 361 00:17:04,640 --> 00:17:34,560 it's crazy, it's crazy. 362 00:17:34,560 --> 00:17:39,080 Is this fear real or am I making it up? 363 00:17:39,080 --> 00:17:41,080 I'm writing this down. 364 00:17:41,080 --> 00:17:47,840 Is this fear real or am I making it up? 365 00:17:47,840 --> 00:17:50,680 What am I really afraid of? 366 00:17:50,680 --> 00:17:56,160 And because if you're honest with yourself half the time, or I don't know if it's half 367 00:17:56,160 --> 00:18:00,280 the time or whatever I haven't done the math because that's cerebral, you're afraid of 368 00:18:00,280 --> 00:18:04,040 succeeding or you're afraid of failure. 369 00:18:04,040 --> 00:18:09,560 And so then if you look at either your success or your failure in a different way, that might 370 00:18:09,560 --> 00:18:13,400 be all you need to get through it. 371 00:18:13,400 --> 00:18:23,040 Another one, another question I ask is if I don't do this, how am I going to feel? 372 00:18:23,040 --> 00:18:28,320 And again, it could be I'm going to feel great because what a relief, it's off my shoulders, 373 00:18:28,320 --> 00:18:32,960 you know, I'm like, it didn't feel good, or it's going to be like I'm going to feel horrible, 374 00:18:32,960 --> 00:18:35,400 I'm going to feel like I lost an opportunity. 375 00:18:35,400 --> 00:18:38,840 And then those leave, but those are my three, you know me three, three is about all I can 376 00:18:38,840 --> 00:18:39,840 handle. 377 00:18:39,840 --> 00:18:41,680 Those are my three main questions. 378 00:18:41,680 --> 00:18:47,000 And then depending on how my gut reaction, you have to be really in tune to your gut 379 00:18:47,000 --> 00:18:48,000 reaction. 380 00:18:48,000 --> 00:18:49,000 How does it? 381 00:18:49,000 --> 00:18:52,440 Jessica, I need you to block out one hour on my schedule this afternoon. 382 00:18:52,440 --> 00:18:59,120 I got to ask myself three important questions later on. 383 00:18:59,120 --> 00:19:00,920 Jessica says just an hour. 384 00:19:00,920 --> 00:19:02,960 Well, that's wonderful. 385 00:19:02,960 --> 00:19:06,840 I appreciate that because, you know, sometimes, you know, it's easy to just to say, well, 386 00:19:06,840 --> 00:19:11,360 you could go with your gut, but it's like the quieting of the mind and it really, you're 387 00:19:11,360 --> 00:19:16,240 right that, you know, the heart, the mind, sometimes they're not all in concert. 388 00:19:16,240 --> 00:19:19,040 And so, you know, it's really interesting. 389 00:19:19,040 --> 00:19:20,360 You know, I thought that was great. 390 00:19:20,360 --> 00:19:21,360 Thank you. 391 00:19:21,360 --> 00:19:22,560 Those are three great questions and I will be using it. 392 00:19:22,560 --> 00:19:23,800 He really did write them down. 393 00:19:23,800 --> 00:19:25,720 I did guys, I did. 394 00:19:25,720 --> 00:19:30,480 The other thing, and you kind of alluded to it already, but I thought was a third big 395 00:19:30,480 --> 00:19:35,920 lesson in the story is I can lean on those around me. 396 00:19:35,920 --> 00:19:38,320 I am not afraid to ask for support. 397 00:19:38,320 --> 00:19:45,000 And that I thought was incredibly powerful as well because, you know, oftentimes when 398 00:19:45,000 --> 00:19:49,120 we have this discussion about our business, we say it's impossible for you to know everything 399 00:19:49,120 --> 00:19:50,120 about everything. 400 00:19:50,120 --> 00:19:54,160 And when you're in commercial real estate, because you have multiple asset classes, there's 401 00:19:54,160 --> 00:19:59,120 so many ways to become a hyper, hyper expert on every little thing. 402 00:19:59,120 --> 00:20:05,160 You know, we just did a podcast where I mentioned in the C5 conference about this logistics expert 403 00:20:05,160 --> 00:20:09,160 and, you know, how drilled down that information is, which is infinitely interesting, but the 404 00:20:09,160 --> 00:20:14,120 reality is that unless that's all you're going to focus on, you will never develop that exact 405 00:20:14,120 --> 00:20:15,120 expertise. 406 00:20:15,120 --> 00:20:19,720 But when your clients come to you, they come to you because they need, you know, because, 407 00:20:19,720 --> 00:20:21,640 you know, they trust you, right? 408 00:20:21,640 --> 00:20:23,200 They want your guidance. 409 00:20:23,200 --> 00:20:27,920 And so, it's more important not to be the person that knows everything because that's 410 00:20:27,920 --> 00:20:31,840 not possible than to be the one who knows where to go for the right answers. 411 00:20:31,840 --> 00:20:32,840 Right. 412 00:20:32,840 --> 00:20:38,160 And so I think support, and I know in the case of the book, they're talking about supporting 413 00:20:38,160 --> 00:20:40,120 you and being courageous, right? 414 00:20:40,120 --> 00:20:42,960 But I think support is incredibly impactful. 415 00:20:42,960 --> 00:20:46,520 It's, I know the story and you've told the story before about that investment that you 416 00:20:46,520 --> 00:20:47,520 made. 417 00:20:47,520 --> 00:20:51,680 And I know that you may not have needed it from a logical perspective that, okay, I know 418 00:20:51,680 --> 00:20:56,840 I really need this or you didn't need for that person to sign a contract or for to give 419 00:20:56,840 --> 00:20:58,880 you this guarantee or to put... 420 00:20:58,880 --> 00:20:59,880 He didn't even know what my question was. 421 00:20:59,880 --> 00:21:02,120 You didn't even know what you were asking, correct? 422 00:21:02,120 --> 00:21:05,080 You just ask him, you know, will you ever, will you take care of him? 423 00:21:05,080 --> 00:21:07,040 Will you be there for me if I screw up? 424 00:21:07,040 --> 00:21:08,040 Correct. 425 00:21:08,040 --> 00:21:09,040 And just that... 426 00:21:09,040 --> 00:21:10,280 That by itself created that. 427 00:21:10,280 --> 00:21:15,520 And then everything that you mentioned about Beth and what she has created has been a support 428 00:21:15,520 --> 00:21:20,680 group in every, in every, in every instance, whether it's the independent retailer awards, 429 00:21:20,680 --> 00:21:23,920 you know, where now all these independent retailers are getting to know each other, 430 00:21:23,920 --> 00:21:25,120 they support each other. 431 00:21:25,120 --> 00:21:30,280 She brings in all of the brokerage community or it is the book club or it is the investment, 432 00:21:30,280 --> 00:21:32,240 the women investment, you know, conference. 433 00:21:32,240 --> 00:21:37,400 I think all of those things are that layer of support where we've had the honor of being 434 00:21:37,400 --> 00:21:39,120 on stage in different things. 435 00:21:39,120 --> 00:21:44,360 Like I've always felt that I'm not alone because the support has been there from, from the 436 00:21:44,360 --> 00:21:45,360 beginning. 437 00:21:45,360 --> 00:21:48,480 So I think that that is a great lesson in the book is that you don't have to be courageous 438 00:21:48,480 --> 00:21:50,800 by yourself. 439 00:21:50,800 --> 00:21:56,680 Because that courage is fed by the people that you have surrounding you, which is why 440 00:21:56,680 --> 00:21:59,360 it's important to choose the right people, right? 441 00:21:59,360 --> 00:22:00,360 Agreed. 442 00:22:00,360 --> 00:22:04,960 And at the end of the book, the author's note states, she does, you know, author's note 443 00:22:04,960 --> 00:22:07,960 and she teaches breathing and yoga poses, etc. 444 00:22:07,960 --> 00:22:13,440 But it says, although what scares us may be different, fear is something we all feel and 445 00:22:13,440 --> 00:22:14,920 we don't need to hide it. 446 00:22:14,920 --> 00:22:16,640 It's okay to talk about fear. 447 00:22:16,640 --> 00:22:18,640 This is my favorite part. 448 00:22:18,640 --> 00:22:23,520 Fear is a place for opportunity and growth. 449 00:22:23,520 --> 00:22:25,920 Fear is a place for opportunity and growth. 450 00:22:25,920 --> 00:22:29,880 So as anybody listening starts planning for 2025. 451 00:22:29,880 --> 00:22:31,840 So it's like the obstacles the way. 452 00:22:31,840 --> 00:22:32,840 Exactly. 453 00:22:32,840 --> 00:22:35,240 It's all the same things that we have discussed. 454 00:22:35,240 --> 00:22:36,240 Exactly. 455 00:22:36,240 --> 00:22:41,440 And so as you start planning for 2025, think about what you're scared of, how much further 456 00:22:41,440 --> 00:22:45,440 you could grow in 2025 if you face that fear. 457 00:22:45,440 --> 00:22:50,960 Come up with a plan, including who your support group's going to be to help get you through 458 00:22:50,960 --> 00:22:57,960 or over your fear because right now, and this is, I'm taking this quote directly from Spencer 459 00:22:57,960 --> 00:23:05,160 Levy, who we spoke about in a previous episode regarding his presentation with Gunnar at 460 00:23:05,160 --> 00:23:06,520 C5. 461 00:23:06,520 --> 00:23:15,400 And he said, right now, if you have the courage, there is an intergenerational shift in what 462 00:23:15,400 --> 00:23:22,480 wealth and tons of opportunity in real estate before capital markets come back. 463 00:23:22,480 --> 00:23:27,280 And if we're afraid that there is no capital, that there is no this blah, blah, blah, blah, 464 00:23:27,280 --> 00:23:29,400 we're going to miss that opportunity. 465 00:23:29,400 --> 00:23:34,440 So I didn't even know there was a whole yoga. 466 00:23:34,440 --> 00:23:36,640 How to add the head of the book. 467 00:23:36,640 --> 00:23:39,400 Have you done these the fear post, the fierce post? 468 00:23:39,400 --> 00:23:42,240 Yes, I call it cheer post, but yes, the fierce post. 469 00:23:42,240 --> 00:23:43,400 What do you call it? 470 00:23:43,400 --> 00:23:44,400 Cheer post. 471 00:23:44,400 --> 00:23:45,840 Also known as cheer post. 472 00:23:45,840 --> 00:23:47,240 And warrior three post. 473 00:23:47,240 --> 00:23:49,680 Yes, I do warrior three, one and two. 474 00:23:49,680 --> 00:23:50,840 How about lion's breath? 475 00:23:50,840 --> 00:23:51,840 Yes. 476 00:23:51,840 --> 00:23:52,840 Oof. 477 00:23:52,840 --> 00:23:53,840 As long as I don't have to. 478 00:23:53,840 --> 00:23:54,840 Yeah. 479 00:23:54,840 --> 00:23:58,840 I was going to say, as long as it's not what it smells like. 480 00:23:58,840 --> 00:24:00,840 It is exactly what it sounds like. 481 00:24:00,840 --> 00:24:03,840 And you get a room full of 25 people doing that. 482 00:24:03,840 --> 00:24:06,840 Oh my goodness. 483 00:24:06,840 --> 00:24:07,840 But I agree. 484 00:24:07,840 --> 00:24:11,760 I think that, I think we've always, we've always said it, it's in times of uncertainty 485 00:24:11,760 --> 00:24:14,680 that you have the most opportunity. 486 00:24:14,680 --> 00:24:18,040 We've seen that play out in so many different ways. 487 00:24:18,040 --> 00:24:22,200 You know, and if you, if you, if you study the economic history of the United States, 488 00:24:22,200 --> 00:24:26,320 you will, you will find that, you know, most generational wealth is built during times of 489 00:24:26,320 --> 00:24:29,120 uncertainty and that's where the opportunity lies. 490 00:24:29,120 --> 00:24:33,200 I thought there was a fourth, you know, main theme or lesson in the book. 491 00:24:33,200 --> 00:24:34,200 And there are many. 492 00:24:34,200 --> 00:24:38,040 And of course, as is, as it is with books, which is why we love reading, it means different 493 00:24:38,040 --> 00:24:39,400 things to different people, right? 494 00:24:39,400 --> 00:24:43,040 Because reading is a very interactive journey, right? 495 00:24:43,040 --> 00:24:46,640 Because the person reading becomes part of the story, right? 496 00:24:46,640 --> 00:24:48,440 And becomes part of the interpretation. 497 00:24:48,440 --> 00:24:55,320 But in there's a sentence that says, when I feel uncertain and start to lose my balance, 498 00:24:55,320 --> 00:24:59,840 I find my center and gather my strength. 499 00:24:59,840 --> 00:25:01,760 And that's another really interesting component. 500 00:25:01,760 --> 00:25:06,560 And I think that we like the rule of threes and I love all your three questions. 501 00:25:06,560 --> 00:25:11,600 And I think part of this is a part of the three questions that you mentioned is really 502 00:25:11,600 --> 00:25:17,200 about that is about finding your center, you know, because I'm about to be 50 in December. 503 00:25:17,200 --> 00:25:25,800 And I was contemplating how, how different life is than it was when I was a child, right? 504 00:25:25,800 --> 00:25:31,320 And, and I was thinking like we, I feel that because of all the technological advancement, 505 00:25:31,320 --> 00:25:36,040 especially in communications, the internet, the interconnectivity that there has been 506 00:25:36,040 --> 00:25:41,200 great opportunity, but there's also been, it's almost dizzying the amount of information 507 00:25:41,200 --> 00:25:43,680 that we have to consume, you know? 508 00:25:43,680 --> 00:25:49,480 And I find that for anybody entering any industry that you can, you have access to so much information 509 00:25:49,480 --> 00:25:53,120 that sometimes it's difficult to find your center and say, what's valuable, what's not 510 00:25:53,120 --> 00:25:57,560 valuable, how do I interpret this, how do I, you know, what, what is going to actually 511 00:25:57,560 --> 00:26:00,960 bring me value and what is going to be a total distraction. 512 00:26:00,960 --> 00:26:03,040 The info is really noise, right? 513 00:26:03,040 --> 00:26:06,000 And if you think about our crazy brains, that's just noise. 514 00:26:06,000 --> 00:26:09,880 It's all the information, our brains trying to process information. 515 00:26:09,880 --> 00:26:15,640 So I think to your point, that's where tech has really sped that up. 516 00:26:15,640 --> 00:26:20,960 We have access to more data faster than we've ever had, right? 517 00:26:20,960 --> 00:26:25,920 And it's getting exponentially more so, which means our brains are going to be even more 518 00:26:25,920 --> 00:26:32,160 like, yeah, because you, you, you can stray from your center, right? 519 00:26:32,160 --> 00:26:36,080 And I think that that, that is a really interesting dynamic. 520 00:26:36,080 --> 00:26:39,560 What are the things that are pulling you closer to, to your authentic self? 521 00:26:39,560 --> 00:26:41,360 And what are the things that are pulling you away? 522 00:26:41,360 --> 00:26:42,480 And it creating this phrase. 523 00:26:42,480 --> 00:26:46,960 So there are little nuggets in this short book, right? 524 00:26:46,960 --> 00:26:48,280 It's also beautifully illustrated. 525 00:26:48,280 --> 00:26:52,360 They did a nice job, but there are always these little nuggets of information. 526 00:26:52,360 --> 00:26:59,960 I love that we're discussing this partly because there is, and I'm finding it more and more 527 00:26:59,960 --> 00:27:06,960 valuable, but I was in a conference and someone talked to me about a book called the brevity. 528 00:27:06,960 --> 00:27:09,280 I think that there is something to that. 529 00:27:09,280 --> 00:27:15,080 It is, if you cannot convey your ideas in a very simple, direct way, then they either 530 00:27:15,080 --> 00:27:17,360 have to be workshop more, right? 531 00:27:17,360 --> 00:27:20,080 Or you're, you're missing the point. 532 00:27:20,080 --> 00:27:26,280 And I think that the brevity of the story, but the ramifications or the, the potentiality 533 00:27:26,280 --> 00:27:28,080 of the ideas are very powerful. 534 00:27:28,080 --> 00:27:33,240 Well, the brevity of the story didn't take away from the strength of the message. 535 00:27:33,240 --> 00:27:37,160 Well, it also allowed us to become part of the story, right? 536 00:27:37,160 --> 00:27:42,000 Cause we had our own, our own experiences and our own perspective. 537 00:27:42,000 --> 00:27:44,600 And I, and I really, I really do enjoy that. 538 00:27:44,600 --> 00:27:48,880 And I'm seeing that, you know, like today I was looking at a post in LinkedIn and it 539 00:27:48,880 --> 00:27:49,880 was super long. 540 00:27:49,880 --> 00:27:54,120 And I was like, wow, this is, and then I was looking at something and it was just two sentences 541 00:27:54,120 --> 00:27:55,560 and it was much more impactful. 542 00:27:55,560 --> 00:28:01,680 I digress a bit, but I do, I do think that it is a great time to, to speak about courage. 543 00:28:01,680 --> 00:28:08,680 And I love that the title of the book is not courage, but it is I am courage, you know, 544 00:28:08,680 --> 00:28:11,280 as if it is an adjective and attitude. 545 00:28:11,280 --> 00:28:16,840 You know, listen, I don't want to go to books and books while you're shopping for kids books, 546 00:28:16,840 --> 00:28:21,240 but I really appreciate that you do that in your spare time. 547 00:28:21,240 --> 00:28:22,240 I love it. 548 00:28:22,240 --> 00:28:23,240 I love books and books. 549 00:28:23,240 --> 00:28:27,200 I have to be careful cause talk about going down a rabbit hole in a bookstore. 550 00:28:27,200 --> 00:28:28,200 Exactly. 551 00:28:28,200 --> 00:28:29,920 So do you have a fun fact? 552 00:28:29,920 --> 00:28:32,240 I, I, I, uh, no. 553 00:28:32,240 --> 00:28:34,240 That means no. 554 00:28:34,240 --> 00:28:35,240 Okay. 555 00:28:35,240 --> 00:28:37,040 So I'll do one. 556 00:28:37,040 --> 00:28:38,960 It's a little bit long, but bear with me. 557 00:28:38,960 --> 00:28:44,760 So according to MSCI Inc, a company that provides research based data and tools to financial 558 00:28:44,760 --> 00:28:50,320 institutions, data through July showed how rough the national commercial real estate market 559 00:28:50,320 --> 00:28:59,360 has been with transactions down from 5% from 203.8 billion. 560 00:28:59,360 --> 00:29:05,520 And I throw out that number because there are signs that we are near rock bottom of 561 00:29:05,520 --> 00:29:06,520 the cycle. 562 00:29:06,520 --> 00:29:11,800 And it's finally funny during the great recession, my brother who does a lot of stock investing 563 00:29:11,800 --> 00:29:13,040 on his own. 564 00:29:13,040 --> 00:29:17,480 He's like, you have to listen for certain words to know when to get back in the market. 565 00:29:17,480 --> 00:29:21,800 And it is obviously bottom trough. 566 00:29:21,800 --> 00:29:23,680 And my favorite one is capitulation. 567 00:29:23,680 --> 00:29:29,920 When you start hearing capitulation and, and I've been hearing more of that. 568 00:29:29,920 --> 00:29:35,800 So again, going back to fears, a place for opportunity and growth and what Spencer Levy 569 00:29:35,800 --> 00:29:39,760 says now is a great, great time for opportunity. 570 00:29:39,760 --> 00:29:44,440 So start digging and looking at where the opportunities are. 571 00:29:44,440 --> 00:29:49,480 And you're going to have a great fourth quarter and even better start to 2025. 572 00:29:49,480 --> 00:29:54,120 And you know, in regards to opportunity, I have another, I do have a stat for you and 573 00:29:54,120 --> 00:29:56,960 that is that yesterday I got to see Ron Schaafield. 574 00:29:56,960 --> 00:29:57,960 Oh yeah. 575 00:29:57,960 --> 00:30:03,680 He came by and you know, someone that we admire and respect tremendously, my giant in the 576 00:30:03,680 --> 00:30:04,880 industry here in South Florida. 577 00:30:04,880 --> 00:30:08,560 And you know that he loves stats and I love all his reporting. 578 00:30:08,560 --> 00:30:12,880 And he was saying that if you look at the transaction volume and in this case, he's 579 00:30:12,880 --> 00:30:16,960 talking about residential real estate in the first six months of this year. 580 00:30:16,960 --> 00:30:17,960 Look at this stat. 581 00:30:17,960 --> 00:30:19,240 This is why Ron is amazing. 582 00:30:19,240 --> 00:30:26,080 We had the lowest number of transactions than we've had in the first six months of the 583 00:30:26,080 --> 00:30:28,160 past 15 years. 584 00:30:28,160 --> 00:30:29,160 Wow. 585 00:30:29,160 --> 00:30:30,160 Right. 586 00:30:30,160 --> 00:30:31,160 So that's an impactful stat. 587 00:30:31,160 --> 00:30:35,200 Now, you could say, wow, things are, when you are in this industry long enough, while 588 00:30:35,200 --> 00:30:38,320 you're looking at that, when you hear that, you hear opportunity. 589 00:30:38,320 --> 00:30:39,320 Right. 590 00:30:39,320 --> 00:30:40,320 Right. 591 00:30:40,320 --> 00:30:41,720 And so that, that's just amazing. 592 00:30:41,720 --> 00:30:42,960 So again, thank you. 593 00:30:42,960 --> 00:30:44,240 Shout out to Ron. 594 00:30:44,240 --> 00:30:46,440 Thank you for bringing this up. 595 00:30:46,440 --> 00:30:47,440 It's a great exercise. 596 00:30:47,440 --> 00:30:48,440 It was a lot of fun. 597 00:30:48,440 --> 00:30:49,440 Thank you for playing. 598 00:30:49,440 --> 00:30:52,320 Well, and I got my three questions. 599 00:30:52,320 --> 00:30:53,320 I think Jessica's right. 600 00:30:53,320 --> 00:30:56,520 I might need an hour and a half. 601 00:30:56,520 --> 00:30:59,400 You know, I don't know if that's going to really help Jessica because then I have to 602 00:30:59,400 --> 00:31:03,400 overthink it and you know, we don't want to overthink it and then put it down that I 603 00:31:03,400 --> 00:31:04,880 got to learn yoga. 604 00:31:04,880 --> 00:31:07,440 Or at least lion's breath. 605 00:31:07,440 --> 00:31:09,440 There you go. 606 00:31:09,440 --> 00:31:11,200 No, no, that's not lion's breath. 607 00:31:11,200 --> 00:31:13,120 That's not type of an eye. 608 00:31:13,120 --> 00:31:16,000 I love it. 609 00:31:16,000 --> 00:31:17,000 Bye everybody. 610 00:31:17,000 --> 00:31:18,000 Thank you for joining us. 611 00:31:18,000 --> 00:31:22,000 I appreciate your support and we will, we will see you next time. 612 00:31:22,000 --> 00:31:23,000 Bye bye. 613 00:31:23,000 --> 00:31:24,000 All right. 614 00:31:24,000 --> 00:31:53,600 And again.