The Long View: Jack Cline on L.A. Industrial

Jack Cline 00:48

Well, yeah, thank you. Just I mean, just again, a highlight, not to make it all about youth champions. It's extraordinary. It is about mindset, just like your teenagers, all of us. And I think the beauty of our business is that it helps to be successful, you have to have the right mindset. and that is the youth champions program is really it permeates the preparation of that mindset throughout the twenty four weeks these kids attend workshops and six we call them events. It used to be field trips, but they're big time.

Jack Cline 01:18

Yeah, it's all inner city high school, 10th, 11th, 12th graders, but we have a an alumni institute where we have kids in a post when they're off in college and we now have some kids that have graduated college that are alumni that are still participating. And it's key. particularly our all of our workshops are on Zoom. All of our field trips are in person and in the we do breakout rooms. And it's very important to have somebody who knows how to instigate and initiate conversation when you have You know, five sophomores from a high school that they don't know each other and they're tr they're working through whatever the question Is that part of the workshop whether it's a mindset question or it's a goal setting question? So we have alumni that come into those breakout rooms and help stir the pot. Really fun. Lots of fun.

Jack Cline 02:51

Yeah, no, actually COVID was the best thing for our youth champions program. We used to run around to high school's inner city with a facilitator. And you know, doors were locked, janitors forgot to open up the room for us, pivoted to COVID, boom, saw perfect format with strategic coach, copy paste. That's that is truly the method and the technology that we use for youth champions. We it's worked out terrific and kids really You can see the growth in the kids and their mindset. It's fantastic stuff. So anyhow, that's our youth champions thing.

Jack Cline 03:38

So really downtown LA, Vernon Commerce, these are largely older percentage-wise, older industrial buildings. but all kinds of new things have come out of the downtown LA kind of migration. you know, the last iteration that really hit a pop was the studio business that's kind of gone its way. we are what we're really not seeing a resurgence outside of wannabe data the data center world. As but unfortunately they're kind of being either legislated or influenced out of the market, which is challenging for somebody who really believes in the value of having the smartest guy in the room, whether it's technology

Jack Cline 04:19

or

Jack Cline 04:19

a

Jack Cline 04:19

person.

Jack Cline 04:22

A hundred percent. I mean it's real and I think it's just there's so so much pressure from the outside world that doesn't really want us to maybe grow in the way that we can. And I think certainly local data centers will absolutely be a key impact for those cities that choose to allow them to build, they're gonna be terrific for those communities, as they are in other communities.

Jack Cline 04:53

No.

Jack Cline 04:55

well in Vernon there's one that ex that is up in operational two years, prime. we worked with CoreSite and sold them a seven acre site on Vernon. They're under construction. there's digital realty is under construction on Pacific. So Vernon has been a great place for them. But now some of the tide is turning in Vernon.

Jack Cline 05:13

Well, exactly. It has their own utility, they can figure it out. the unfortunately even Vernon now is having conversations about limiting additional data centers, which, you know, just doesn't really make sense for a particular community that's based on energy.

Jack Cline 05:29

because that's the foundational element for what I think all of our future is, and that's energy. and Vernon is really a very a smart city. They're have historically been business friendly, but I think some of those the outside tides are trying to influence Vernon to be something that they're not, you know, which is I'm not sure what that would be. If it's LA, well I'm not sure that's a great idea. but

Jack Cline 05:52

yeah, that's what's going on. So we're not like the South Bay has advanced manufacturing. We do have some folks in the electrical supply chain. we work with a company that we're we put them in 140,000 square feet. About 18 months ago, we're expanding them by 60,000 square feet and they're in the transformer business. and that again, that's a result of a data center that's getting built someplace, power being installed somewhere as we kind of move forward and transform to a something an automated automated tools, whether it's intelligence or robotics or drones or whatever.

Jack Cline 06:34

Robo.

Jack Cline 06:34

I told my wife I'm we're with she happens

Jack Cline 06:37

to

Jack Cline 06:37

like

Jack Cline 06:38

cars.

Jack Cline 06:39

I told her I'm never buying a car with a steering

Jack Cline 06:42

wheel again. We'll just buy robo taxis. I was meeting with my 87-year-old mom. I said, Mom, you know what? We're gonna get you a robo taxi anywhere you want to go, and then it'll

Jack Cline 06:52

work during

Jack Cline 06:53

the day.

Jack Cline 06:54

Exactly. so the cyber cab thing is super exciting to me. I'm a huge fan of Elon. I've got a couple Teslas. we're all Starlink. We just cut cable at the house. I mean, it's like how can you how can you reject advancement for humans? it's just interesting to me.

Jack Cline 07:25

Yeah. Let's scroll

Jack Cline 07:26

just let's scroll through it. Grow through

Jack Cline 07:28

it just like we do as humans.

Jack Cline 07:52

Well, I think they're exempt from the affordable housing element. I think what the issue in Vernon has a very small voting base. and what happens has happened historically in Vernon. There's really only and it's a paid council seat member. And so there's some limitations on the income level of folks. So they have to have an income level so that the council seat is not the most important thing for them. And as a result, they've really had Roughly about 10 folks that were qualified for Vernon council members. They have an eight-year term. So they would just cycle in and out the same folks. The idea was expand the voting base, so that we have more than just 10 folks that will ever run Vernon. they I

Jack Cline 08:33

think

Jack Cline 08:33

they

Jack Cline 08:33

opened

Jack Cline 08:33

up Yeah, well. Yeah, actually I was on the canvassing commission and it was myself, the fire chief, the police chief, and another industry provider. And we'd actually count the votes in city council chambers, 64 of them. but I think it's important for Vernon to exist because it's one of the few places where you can truly have transparency and demonstrate. what are good forms and systems of local governance but anyhow so they opened up i think a 61 unit apartment but they're opening one up over right off of Pacific they have some workforce housing element that they've allowed along Santa Fe but you know that's it's like anything else it's a little bit of a new experiment they will never be a you know arts district concept even though that's how the initial consultants come in.

Jack Cline 09:18

say, yeah, we're gonna transform this to make it look like the arts. You why the Arts District works so well? It was so incredibly cheap for 20 years. And that's how the folks got someplace to go, create things. And then after the cool kids blew it up, then the rest of the folks show up and now it's expensive. Vernon

Jack Cline 09:37

was already expensive. We don't we don't have the foundational economics to support a long-term blight concept because Vernon is already a you know, a successful community, through being friendly to business.

Jack Cline 09:51

So

Jack Cline 10:00

Yeah, for sure. I think, well, again, it's very interesting, Justin. And this is something that I think we all have to be sensitive to and outspoken about. So just they had a business and industry commission meeting, which is really Vernon's good about they have a commission that has a handful of a couple industrial guys, a couple business guys, a couple of community members talking about the business. And so they were talking about restricting cold storage in Vernon.

Jack Cline 10:29

They were talking about eliminating or restricting data centers in Vernon. These two were the subjects matter of what was yesterday morning's commission meeting

Jack Cline 10:40

and it was like you know because the whole debacle over at the Lineage site because the I

Jack Cline 10:47

think

Jack Cline 10:47

it

Jack Cline 10:47

was

Jack Cline 10:47

the trend yeah the fire And so

Jack Cline 10:50

now, that's a cold storage problem. I mean, it's kind of like come And so I always look at why would anybody want to restrict the ability to preserve food? I mean, why would you want to restrict that? And

Jack Cline 11:02

Vernon, because of its it being a a utility city, they love freezers. It's a very consistent power load. They know exactly what they need and it allows them to plan much better from a power distribution standpoint. well, fortunately the at least the commission. is recommending the council, leave it by right, don't do a thing. which I think is really but let's hopefully that's the city council takes that direction.

Jack Cline 11:29

but

Jack Cline 12:01

Right. Well, I actually there was a little bit of a pallet excess surplus going

Jack Cline 12:05

on right before that fire.

Jack Cline 12:08

in terms of capacity. you know, GLP-1s? Yeah, all of

Jack Cline 12:13

a sudden it was actually in a stock report in a report on Lineage in America's stock, which was off this be pre po pre fire. And that's because people are eating less. And as a result, they're seeing a little bit less storage in the

Jack Cline 12:26

cold storage business. So it You know, this is the beauty of our world. You don't know what's going to impact one thing or the other until

Jack Cline 12:34

you start thinking, hey, everything has a potential in a relationship.

Jack Cline 12:38

So what other relationships might impact one thing versus the other? So it's anyhow, that's what keeps our business in my mind, the industrial business, so fun.

Jack Cline 12:50

it

Jack Cline 12:50

it's just

Jack Cline 12:50

really

Jack Cline 12:53

exactly

Jack Cline 12:54

who would have guessed. Well, now we have a shortage. I mean, that was a Almost a 500,000 square foot, 68 foot clear freezer building. I actually sold the land underneath that building to the developer that built that.

Jack Cline 13:06

the one that burned down. But it was, you know, it was an awesome but the rest of our the still powered land matters in our market. you know, we are now that lease rates have fallen quite a bit. that we're which we're seeing a revival of movement on the lease standpoint. We're seeing an overhang of sale. You know, it's used to be it's hard to buy a 30,000, 40,000 square foot building or have a lot of choices within Vernon

Jack Cline 13:35

and Commerce.

Jack Cline 13:37

Now, you know, there's you know, the 20 options, which before it would be three or four options. And I think we're starting to see a little bit of a price correction on the sales side, which takes a lot longer than a price correction on a lease rate.

Jack Cline 13:55

Yeah. Well I mean, but now, you know, we've got this giant pop in interest rates. And

Jack Cline 13:59

I think it's put sellers in a more of a defensive mode. If they're if

Jack Cline 14:03

their exit is really a sale, I think they're seeing that it might be better to make a choice today than wait six months for a choice because I think again, the natural attrition in terms of occupancy in the market that's occurring is occurring. And you know, as people age out of business, as heirs decide that, you know, they don't they don't want to rent the property, they want the cash, as business changes, those folks that put themselves on the shelf for sale, I think that they are getting more aggressive actually. it's not they're going to be, but they are going to they are getting more aggressive. So which I find very interesting because I love that part of the business.

Jack Cline 14:50

Well

Jack Cline 14:50

you

Jack Cline 14:50

know

Jack Cline 14:51

the

Jack Cline 14:53

Well, you know, the funny thing is these are not high interest rates.

Jack Cline 14:57

This is how the business for 30 of the last forty years I've been in it, this is how the interest rates are. and they've been worse. So I think it's as our economy is just more productive, the value of capital, which is part of the is reflected in interest rate, the value of capital's more. So we're going to likely see I expect that these rates are gonna kind of lock in for quite a while. not a six I don't think it's a six month. I don't think it's just the Strait of Hormuz. I don't think it's just that. I think that we've got a lot of good returns on capital in things that may not be real estate, you know.

Jack Cline 15:38

Yeah.

Jack Cline 15:56

Yeah, I

Jack Cline 15:57

wouldn't

Jack Cline 15:57

call

Jack Cline 15:57

it that.

Jack Cline 15:58

Yeah. Well, I mean, Prologis still owns over on 7th and Alameda. I think that was, you know, maybe an idea. There's been a lot of ideas for anything that's LA driven. In Vernon, I don't know that they have anything of super significant that is an EV charging station. I think my understanding is they're kind of that's kind of a supplemental thing they're adding in many places. and as far as they have a very great site in downtown LA that's been on the market forever. I think their initial concept was Go Studio. We were actually running with a hot studio at the time. And I that market has changed and LA City is really tough to do something in. I mean really tough to do something in. And that I I'm not sure how long that trend's gonna last because that

Jack Cline 16:41

I think we're seeing a shrinking of footprint demand in of all things in the city of Los Angeles. Really challenging.

Jack Cline 16:57

Yes. That and it's

Jack Cline 17:08

Yeah, I think until the citizens of each municipality wake up and say, What are you spending all this money on? Because it's not getting better on our streets. They're not

Jack Cline 17:17

they're not cleaner better. we are whatever issues that we're supposedly funding are getting exacerbated by the funding. So I do believe in people

Jack Cline 17:27

and I

Jack Cline 17:27

think that

Jack Cline 17:31

Right.

Jack Cline 17:32

And I

Jack Cline 17:32

think

Jack Cline 17:33

there's a lot better way to solve all of these problems. And money is probably the fourth or fifth on the list as far as solutions. So

Jack Cline 17:41

but yeah, that's that is a challenge. We're challenging Southern California for a lot of things, even if a municipality wants to kind of be a little bit more market facing, market effective. this the state has a lot of challenges on restricting cities. I mean it's it to me, I was actually talking with a city manager of one of our local I had lunch with him I think it was Tuesday this week. I said, you guys gotta fight for your rights. The cities have rights to be a city and actually control within their boundaries. You gotta do something about that. You can't just like slowly let it erode. Just

Jack Cline 18:22

like us as property right owners, you know, property right proponents, you can't let it erode because that property rights are the basic foundation of all successful economies.

Jack Cline 18:33

Everything. You can't if you don't have property rights, you will not have a successful growing both per capita and total capita economy. So And it works from a very local for it works from guys like you and me, right, Justin? If we don't have rights, we can't practice. We can't make we can't create value for others. That means we can't get some value for ourselves. I mean, it just all starts with, hey, let give us a set of rules that we can all live by and let's let's play by those rules and play to err to make it win for us, which will make it can't win for us unless it's winning for others.

Jack Cline 19:06

that's the market.

Jack Cline 19:24

Right. Ever every day. But anyhow. yeah. I

Jack Cline 20:03

It has. I mean, it was it's been fun. You know, myself and Craig Phillips and Bacci opened the commerce office in ninety six. And so we had a little experience in doing that as a satellite for industry. And I had some young guys that were on my team that said, Hey, we really I want to have an office at downtown LA. there were other folks within Lee that were looking to put an office in downtown LA. At the time being at commerce, I wanted to restrict anyone else coming in and eroding on my

Jack Cline 20:30

market area and

Jack Cline 20:31

market share. sorry. And the the idea was it was not an easy task. You had to be somebody who is ornery and angry like me to run the gauntlet of getting all of the various stakeholders or hooks out to get through. I think there were approximately five shareholders or seven total that came from commerce industry. And we matched up with a couple of guys from the outside. and just have an outstanding group of folks here. and very aligned in values. And that's to me, that's important. whether it just like you're picking your partner to marry, you gotta have an alignment of values, have an alignment of values with our partners here in the office and having a growth mindset. because as we see offices age in the demographically in the Lee & Associates world, many times you those folks are looking towards an end and they stop growing from a beginning. And so that was one of the things that also attracted me for this opportunity because you know, again, like a Dan Dan Sullivan convert, I'm living through one twenty five. So I'm

Jack Cline 21:44

just turning over the half-life here.

Jack Cline 21:46

and I really I am look looking forward to seeing how this thing can rock and roll for the next 20 25 years. Our we've got 21 licensed agents, actually 22 in our office now. we've been open just about three years. we have again great brokers that are just, you know, where they in their career and now they're blowing up their career. we've been working on, you know, on the recruiting, because it's always been a recruiting concept in Lee & Associates.

Jack Cline 22:14

And it there's only a handful of guys that we'd ever won in the doors here that we play in our marketplace. And they're successful. And then they they've got contracts and things signed with folks. So that timing always has to be right. And so we really have embarked on building. So I again, this is almost a takeoff from our youth champions concept is we want to really build young brokers. So currently the team we just engaged this year, we have four runners. and this and they have a curriculum which includes a mindset programming and you know book reading. I'm a big book guy. Last

Jack Cline 22:50

year

Jack Cline 22:50

my goal was a book a week and I did it. This year it's probably one every two and a half weeks. just hard for this old mind to start. absorbing all of it and trying to employ some of it.

Jack Cline 23:02

but it's it it's great. So we got this new energy also. we always

Jack Cline 23:06

had

Jack Cline 23:07

good energy. Now we have some new great guys and it's you know we have four of them they sit right outside this office. We got on the team the shareholders anchor them at the ends and it it's hell it's a lot of fun. You know, I mean the money and all that good stuff, that's great. Having

Jack Cline 23:23

fun and growing and helping others grow alongside you, that's what again, joy, that's the E-ticket ride of life for me.

Jack Cline 24:06

Yeah.

Jack Cline 24:48

Yeah. and my again, Miles is terrific. We've got and a number of folks like Miles coming up that are terrific. Really,

Jack Cline 24:55

I mean smart, hard working, and sometimes a little edgy, but always truly a giver. and that's really, you know, that to me is what it takes. You gotta be able to give before you get something. It's not

Jack Cline 25:08

you can always be transactional, but let's go figure out transformational. Let's really have a relationship with our clients and our brokers and partners.

Jack Cline 26:03

Yeah, and grow the pie. You know,

Jack Cline 26:06

it's not a fixed, it's not a fixed pie. Grow the pie. That's that we will get all so much more if we work and think and focus on growing the pie. That that's simple to me.

Jack Cline 26:20

yeah, there's all kinds of and there's all kinds of other opportunities. I mean, we at Lee & Associates, we have the opportunity to invest alongside

Jack Cline 26:26

our clients. We have a the to invest amongst ourselves. you know. doing something in a product type that you actually know better than anyone else. Not a bad it's not a bad alignment. so that's and that's makes it special here at Lee & Associates as well.

Jack Cline 27:21

Right.

Jack Cline 27:21

Yeah.

Jack Cline 27:21

We

Jack Cline 27:21

can't

Jack Cline 27:22

well right.

Jack Cline 27:23

It's what is that worth? It's just the deal. It's it makes a deal. Yeah.

Jack Cline 27:30

I did.

Jack Cline 27:32

I did. So when we opened the commerce office, Bill, you know, who was the fo I mean, obviously founder of Lee & Associates, but in industry was his his office, right? City of industry, we were a satellite of industry. And so when we opened that office, that was with Bill. Ed Invic was there at the time. But that was a Bill program. and Bill had you know, he was still in his brokerage career. So he was still you know, out and he I think he had some personal targets he wanted to hit as a broker. And that was kind of when he was gonna wind down on the brokerage side so much. He had brought in some terrific young folks that were working with him at the time, you know, Jeff Huberman. and yeah, so that I did absolutely know Bill. and it's an incredible system that he thought of, I think that. our obligation and duty is to make it a little bit better system. And but the basic concept of the guys in the office own the office and that there's not some hey Wall Street is Wall Street dude that's gonna all of a sudden tell you this is your sir your services are reduced. We're getting we're cutting head count and you know it's really it I it is it it's truly I believe aligned with you know, the founding fathers concept in my mind. This is really it was really genius. on the structure that he created. Very charismatic guy. got a lot of guys to go into something that they didn't really know or understand. because it but it was good for them. And that's what he was selling a concept that was good for anyone who would go out and create their own business. And it's a terrific platform for an entrepreneur who happens to be in the commercial real estate brokerage business. Just an outstanding platform.

Jack Cline 29:55

Yeah, it's an outstanding platform. In fact, we were recruiting we were talking to a guy at another firm yesterday. And now, you know, with Claude, it's awesome. We just take our what's our last year's P&L desk cost by desk cost, throw it in, take these, do a comparison. this is the guy's gig, boom. what does our growth look like in terms of fixed cost reduction spread over more heads? And it's like, wow. this program really sings. I did something a little actually super special for this office. We took the 75% of the promote of the office and put it in the corporate treasury. So that again, not everything's about money, it's about sustainability and building a terrific thing. and there are

Jack Cline 30:40

certain metrics in terms of both headcount and sales revenue where you know there's no costs. because we're getting a the venture back.

Jack Cline 30:51

so

Jack Cline 30:51

it really it was I you know again I've seen a number of offices. I think it was started with Lee in ninety six, right? So a number of offices and how they work, and created that that again it's a flywheel effect. The more you grow, the more you get, the lower your cost, the better you are, blah. And that I think will really most folks don't quite understand this.

Jack Cline 31:28

Yeah. So that that'll be interesting. I mean, when I hit the head count, it'll be and gross, it'll be a very interesting example. So

Jack Cline 31:52

Well, I'll tell you again, since I was around in ninety-six, I've seen and I went to presidents meetings back initially when we were opening that office for the first five years. I and there were all there's always been some extraordinary talent within Lee & Associates, but it wasn't, you know, it was like, these are pretty good guys. Today it's extraordinary. the folks that are running offices across the country, there are some real dynamos. real innovators, super effective brokers. and just, I mean, it's like, wow, part of these guys. This is really cool. You know, I've got I actually well, you know, and one of my best friends is a guy that runs the Calgary office who's just I love

Jack Cline 32:35

this man, Mook.

Jack Cline 32:37

you know, he's so you get all the what kind of relationships? how much better is life as a result? Of just you know, going to the presidents meetings, which I think we're going this month it's in New York. So looking forward to seeing my friends. You know, they're

Jack Cline 32:53

colleagues but they're friends out there

Jack Cline 32:55

and pretty fun.

Jack Cline 33:11

well last year I did you know the 10x and ELEVATED, the ELEVATED

Jack Cline 33:16

Chad Willardson run

Jack Cline 33:17

that ran that, which is a great program. But between that EOS getting to I was missing presidents meetings because they were conflicting with this and that.

Jack Cline 33:26

elevated

Jack Cline 33:27

where it was like, wow, that was my year of transformation. I'm gonna slow my roll and so I'm

Jack Cline 33:33

just doing the

Jack Cline 33:34

10x and

Jack Cline 33:35

running

Jack Cline 33:36

everything

Jack Cline 33:36

on the

Jack Cline 33:39

traveling and goofing off and yeah but I I'll tell you the one thing and we're gonna miss it because we've got Parents Week in University of Utah. But what's a great thing that my wife and I have done probably four times is couples connection that strategic coach does.

Jack Cline 33:53

That is an

Jack Cline 33:55

awesome I no it's Adrian no this is couples connection with strategic coach.

Jack Cline 34:01

Adrian runs it. I think it's down

Jack Cline 34:03

in

Jack Cline 34:04

I think it's at Balboa Bay Club or something. I don't know. It's I we're not unfortunately we're not gonna be able to go, but I would always anybody that has a wife, significant other, that's a that is a great program. elevate, I highly recommend it. I just I don't want to give up my 10x crew

Jack Cline 34:20

as strategic coach.

Jack Cline 34:21

So that's why I'm I didn't do Chad. but and EOS is great for all of the players. You know, we run the company on that, we run the team on that, we run our youth champions on that.

Jack Cline 34:31

And we have a really a good facilitator for that right now. So we're we like it, you know. It gives us some structure and gets things done.

Jack Cline 35:19

Yeah. No, again I've been very

Jack Cline 35:21

fortunate.

Jack Cline 35:21

I've been

Jack Cline 35:23

Well, that the that you know, because there's such a currently really a huge tax advantage to buying right now. the challenge is the last few years it's just hasn't made a lot of sense. I think it's coming into that market right now. And that's really another reason I wanted to continue doing the brokerage business is to really have not only a understanding of the market, but a true pulse of the marketplace.

Jack Cline 35:46

And yeah, that's where

Jack Cline 35:49

We're actively looking at not you know, we're making offers on things. with there's one client partner friend that we I've got a couple of them, probably three of them that I've you know, kind of wealthy family office type folks and have worked with. and so you know, we're chasing some things. We actually killed a couple of deals real recently, large deals, because you know, things have changed. I think it's gonna get better for a buyer in terms of basis, which ultimately matters. but yeah, I think I've probably 27, 28 buildings that I've got anywhere from, you know, a 10% interest to a 33% interest. I always like to have partners that are smarter and richer than I am. and that's

Jack Cline 36:33

been a formula that's worked. So you know I have deals that I've done that I'm Maybe a little smarter than the my partners and maybe I have a little more money in and that's a loser. I've always

Jack Cline 36:44

lost those programs.

Jack Cline 36:45

So the guys

Jack Cline 36:46

that are

Jack Cline 36:47

the

Jack Cline 36:49

that's smarter and wealthier folks is who I like to partner with. and yeah, that's that I and I think that's always the opportunity here. There's no you know, there's I mean you set up your defined benefit programs or four one Ks and all that kind of stuff, but that's

Jack Cline 37:05

whatever. They

Jack Cline 37:07

you can create wealth and it goes over a long term. It's short pops, the only regrets I have are deals that I've sold.

Jack Cline 37:16

and I think that is something that is important to know. It takes it takes so much to find a you know, a good deal and make that work. I think it's super short sighted to typically sell that, unless that's the program. Right. sorry.

Jack Cline 37:37

Right.

Jack Cline 37:39

Exactly.

Jack Cline 37:40

And don't go for, you know, and don't go for cash, go for cash flow. That's the

Jack Cline 37:44

program. Always

Jack Cline 37:46

the program.

Jack Cline 38:13

Right.

Jack Cline 38:41

Yeah, and actually, you know, I'm not I I'm not a big fan of debt. Once it's paid off, I'm not excited about rejiggering it. I think

Jack Cline 38:50

that keeps you fairly confident and solid.

Jack Cline 38:54

Might

Jack Cline 38:54

keep

Jack Cline 38:54

you a little

Jack Cline 38:54

lazy.

Jack Cline 38:55

Yeah, I don't like owing people money. And then you know, it's it so but that I think long term it pays itself. Make it pay itself off and then it's that's now it's secured, although you never own it 'cause of property taxes. But I think that it it's a longer term view, but I think we're in a longer term business. Just

Jack Cline 39:14

like the pipelines that we start and when we actually get paid, just is same thing with the ownership by great basis. the leverage the only to the limit that you need to. and you know, let the cash flow pays pay stuff off. I think that's that without a doubt, you may not. You know, not become a billionaire, but you'll be you know, very secure in your future. And there's stuff you can do for others, right? That's cause

Jack Cline 39:40

that that's so pay for the ticket ride.

Jack Cline 39:47

That's right. And to freedom of purpose, freedom of time, freedom of money. Yeah. All

Jack Cline 39:52

the Strategic Coach

Jack Cline 39:54

things.

Jack Cline 40:13

Yeah, I have a bunch of buckets. So like, you know, I both of Goggins books last year that kind of fired me up. yeah, kind of a constant daily stoic type deal. As far as

Jack Cline 40:30

But I actually give them away. I mean, I literally give away hundreds of books a year.

Jack Cline 40:34

when somebody has a my actually this is kind of funny. My daughter for my birthday gave me a some prescription pad because

Jack Cline 40:42

every time I talk to somebody and they're telling me about something, I say, sh have you read This would be terrific for you.

Jack Cline 40:49

and I you know

Jack Cline 40:52

I prescribe reading. I do. I mean, you know, the what would be most there are the everything is I believe in layered learning. So each one kind of builds on itself, kind of a screens over. I do like okay, so our summer book club, we run that for youth champions. and I'll just tell you what we had them the 5 a.m. club.

Jack Cline 41:16

I like that. I'm a four a.m. club guy. Because I read Jocko's book on discipline is freed discipline is freedom. so I as soon as I during COVID I read that, I've woken up at four o'clock every morning ever since.

Jack Cline 41:30

so you know, things that actually change your mind. I like this, Gervais, the guy, the he's a psychologist. what is the name of his book? The first rule of mastery.

Jack Cline 41:40

and it's really don't worry about it what anybody else thinks about, you know, because that's what we're our limitation. largely is, you know, we're afraid to say something because that might that person might think something poorly of us and we have all these, you know, spider monkeys in our mind. and I think anything that takes you along the pathway of you know understanding your values, get alignment and to a certain extent be intolerant of things are that aren't within your values. And that's not to say have bad feelings, but don't waste your time. You know, deal with the five things.

Jack Cline 42:14

you know, I just went to Moon are you familiar with Moonshots

Jack Cline 42:17

podcast? Okay.

Jack Cline 42:18

So I

Jack Cline 42:18

went

Jack Cline 42:19

to

Jack Cline 42:19

the Moonshots thing. It was in LA. It was in

Jack Cline 42:21

LA

Jack Cline 42:21

Friday. Yeah,

Jack Cline 42:22

it was great. And I shook the hand of AWG, who's my hero. I don't

Jack Cline 42:27

he's

Jack Cline 42:28

the he is in the street mall. You're the and I don't really I'm not impressed by very many folks. I mean I respect

Jack Cline 42:36

everybody.

Jack Cline 42:37

Right, exactly. So but we are as gods. I know some folks get uptight about the title and I appreciate that, but I think that was a very interesting forward looking book that Peter Diamandis put out. So there's I mean there's there's so many great books. yeah, I mean I can go on. If you give me a subject matter, I'll I know. the slight edge. Which is very similar to the atomic habit concept. This is

Jack Cline 43:04

super, I think, important for younger kids to understand that you know it's the little things that you do all of a sudden accelerate for i in the long run. And that's kind of like our brokerage business, building the relationships a little bit at a time, and then all of a sudden those relationships turn into a financial, cultural or relationship opportunities. out there. So slight edge, I do I like that. It's kind of atomic habits stated in a different way.

Jack Cline 43:42

Yes.

Jack Cline 43:43

Yeah.

Jack Cline 43:44

Relearn. Right. We always do, right? Because we're hey, we're humans. We always

Jack Cline 43:48

are looking for comfort. Yeah. That one of the reasons I did both of those programs, ELEVATED as well as 10x and EOS last year. I'm just doing two of them this year, was I was complacent. And I, you know, it complacency is really and I see as guys age, they start to get complacent. They have a smaller life. And I don't want to have a smaller life. so I really kind of supercharged into the personal growth last year and looking to launch.

Jack Cline 44:19

Ready to go.

Jack Cline 44:28

Okay.

Jack Cline 44:28

Well

Jack Cline 44:28

Justin,

Jack Cline 44:29

thanks so

Jack Cline 44:29

much. Hey, appreciate talking to you. Good luck with all your endeavors, business. I know you got a lot of good stuff going on. You got a great team going on. and love your books. So keep up the good work.

Jack Cline 44:44

Okay.

Jack Cline 44:46

All right.

Jack Cline 44:46

Take

Jack Cline 44:47

care.

Jack Cline 44:47

Thank

Jack Cline 44:48

you. Bye-bye.