1 00:00:00,059 --> 00:00:02,452 welcome to the Industrial Insights Podcast. 2 00:00:02,452 --> 00:00:06,476 We got Nick Provenzano of Lee & Associates, Idaho, with me 3 00:00:06,476 --> 00:00:09,819 today and excited to learn more about your journey and then 4 00:00:10,650 --> 00:00:13,693 open up what Boise looks like in the industrial markets. 5 00:00:13,793 --> 00:00:15,525 So welcome. Thanks for joining me, Nick. 6 00:00:16,065 --> 00:00:17,303 Thank you, Justin. Happy to be here. 7 00:00:17,303 --> 00:00:18,168 Appreciate the invite. 8 00:00:18,671 --> 00:00:19,253 Yeah. 9 00:00:19,728 --> 00:00:21,937 when did your journey begin in Idaho? 10 00:00:22,019 --> 00:00:23,424 Everybody's got a story. 11 00:00:23,717 --> 00:00:27,086 Yeah, so I was recruited to come play football here 12 00:00:27,847 --> 00:00:31,902 in two thousand sixteen. out of by way of Southern California, 13 00:00:31,902 --> 00:00:33,003 Glendora, California. 14 00:00:34,143 --> 00:00:34,354 so 15 00:00:34,161 --> 00:00:34,457 Okay. 16 00:00:34,354 --> 00:00:36,625 spent a lot of time hanging out in Orange County, 17 00:00:37,105 --> 00:00:39,376 Inland Empire. two thousand sixteen, 18 00:00:40,115 --> 00:00:43,717 came as a preferred walk on, played football for the Broncos 19 00:00:44,357 --> 00:00:44,717 and 20 00:00:45,652 --> 00:00:49,235 Had a nice career, got my degree, earned my scholarship, 21 00:00:49,715 --> 00:00:51,957 wrapped up my career in 2020, 22 00:00:52,537 --> 00:00:56,010 had some internships in the real estate brokerage world during those 23 00:00:56,010 --> 00:00:57,281 times, because in the summer, 24 00:00:57,781 --> 00:00:59,132 you we had to be here. 25 00:00:59,132 --> 00:01:01,464 Like a lot of the students leave town except for some 26 00:01:01,464 --> 00:01:02,304 of the athletes. 27 00:01:03,052 --> 00:01:05,144 so we're here all summer from 28 00:01:05,438 --> 00:01:05,699 Yeah. 29 00:01:05,684 --> 00:01:06,625 a.m. to noon. 30 00:01:07,106 --> 00:01:09,587 And then you're trying to fill the second half of your 31 00:01:09,587 --> 00:01:10,968 day with something productive. 32 00:01:12,077 --> 00:01:13,097 For me I figured 33 00:01:12,913 --> 00:01:13,104 ha. 34 00:01:13,097 --> 00:01:15,749 pretty fast that going to the NFL wasn't in the cards. 35 00:01:16,109 --> 00:01:16,650 So 36 00:01:17,217 --> 00:01:19,447 my dad was like, you better find some internships that are 37 00:01:19,447 --> 00:01:23,082 gonna be applicable to maybe some industries you'd find your way 38 00:01:23,082 --> 00:01:24,634 in and I was like, what's that gonna be? 39 00:01:24,634 --> 00:01:26,346 And he was like, I don't know, maybe just like 40 00:01:26,967 --> 00:01:30,669 maybe sales. he kinda pushed me in that direction just based 41 00:01:30,669 --> 00:01:31,910 on some of the experiences he had. 42 00:01:31,910 --> 00:01:34,581 He's retired longtime Southern California Edison 43 00:01:35,255 --> 00:01:36,021 employee. So he 44 00:01:35,990 --> 00:01:36,336 Okay. 45 00:01:36,021 --> 00:01:38,432 pushed me towards the entrepreneurial route a little bit. 46 00:01:39,073 --> 00:01:39,393 And 47 00:01:39,804 --> 00:01:41,785 got ha got my foot in the door interning 48 00:01:42,226 --> 00:01:45,068 at Lee & Associates in the summer of 2020. 49 00:01:45,508 --> 00:01:49,713 And then in January or winter of twenty, new year of 50 00:01:49,788 --> 00:01:50,438 twenty one is 51 00:01:51,309 --> 00:01:53,491 when I got my Idaho real estate license. 52 00:01:54,129 --> 00:01:55,300 And just hit the ground running. 53 00:01:55,300 --> 00:01:58,955 That's been my first and only job since graduating college. 54 00:01:58,955 --> 00:01:59,826 So it's been 55 00:02:00,362 --> 00:02:02,555 like six years now. I've been a principal for a couple 56 00:02:02,555 --> 00:02:03,839 of years and it's going good. 57 00:02:04,885 --> 00:02:06,957 That's exciting. Yeah. 58 00:02:06,022 --> 00:02:06,382 Yeah. 59 00:02:07,237 --> 00:02:11,334 What's so you had the starting during the pandemic 60 00:02:11,334 --> 00:02:12,235 experience. 61 00:02:12,576 --> 00:02:12,890 Mm-hmm. 62 00:02:12,695 --> 00:02:15,855 My partner Grant had that. He started two months 63 00:02:16,316 --> 00:02:17,296 beforehand, 64 00:02:16,482 --> 00:02:16,797 Yeah. 65 00:02:17,617 --> 00:02:20,467 and then I remember it well because I'm working out of 66 00:02:20,467 --> 00:02:23,190 my kitchen because we're not going to the office for a 67 00:02:23,190 --> 00:02:25,472 period of time, and we're just thinking like, 68 00:02:26,393 --> 00:02:29,936 what are we gonna do? What's the plan here? 69 00:02:29,936 --> 00:02:31,237 Things are all crazy. 70 00:02:31,789 --> 00:02:34,942 There's no door knocking at present, even though he would like 71 00:02:34,942 --> 00:02:38,139 try and then they're like, Hey, not today. 72 00:02:38,880 --> 00:02:41,432 So I could only imagine you had some moment of like, 73 00:02:41,432 --> 00:02:43,094 are we even gonna have runners? 74 00:02:43,094 --> 00:02:46,447 Are we gonna have associates? How long's my runnership gonna take? 75 00:02:46,447 --> 00:02:49,093 I'm gonna be a I'm never gonna be an associate, or 76 00:02:49,093 --> 00:02:50,684 maybe I gotta go find a new job. 77 00:02:50,684 --> 00:02:51,925 Did you have any of those struggles? 78 00:02:51,925 --> 00:02:53,772 Or what was how did that all line up? 79 00:02:53,772 --> 00:02:56,075 Or it was like, Nick, you're in, let's 80 00:02:55,861 --> 00:02:56,291 Yeah. 81 00:02:56,075 --> 00:02:56,415 go. 82 00:02:56,871 --> 00:03:00,236 Well in Boise that the whole COVID like 83 00:03:00,716 --> 00:03:03,991 scare and shut down, like that plane took off and landed 84 00:03:03,991 --> 00:03:07,625 very quickly. Like and that's what really got the party started 85 00:03:07,986 --> 00:03:08,266 here 86 00:03:08,077 --> 00:03:08,524 Yeah. 87 00:03:08,266 --> 00:03:12,687 in Idaho was people were noticing on like this place really 88 00:03:12,687 --> 00:03:14,774 hasn't closed down. People here are still 89 00:03:14,583 --> 00:03:15,155 Yeah. 90 00:03:14,774 --> 00:03:15,588 doing things. 91 00:03:16,319 --> 00:03:16,479 It 92 00:03:16,369 --> 00:03:16,639 People 93 00:03:16,479 --> 00:03:16,618 was 94 00:03:16,639 --> 00:03:17,109 are being 95 00:03:17,061 --> 00:03:18,404 not such a big deal, yeah. 96 00:03:18,225 --> 00:03:20,855 Yeah, but people weren't it wasn't such a big deal for 97 00:03:20,855 --> 00:03:23,839 some reason. And I think that was had a little bit 98 00:03:23,839 --> 00:03:27,643 of the influence on the inward migration that really accelerated 99 00:03:27,081 --> 00:03:27,425 Yes. 100 00:03:27,643 --> 00:03:31,519 here like mid two thousand twenty one throughout the entire year 101 00:03:31,519 --> 00:03:32,407 of two thousand twenty one. 102 00:03:32,659 --> 00:03:32,840 You 103 00:03:32,748 --> 00:03:33,108 So 104 00:03:32,840 --> 00:03:34,726 got like a double boom. Yeah. 105 00:03:34,726 --> 00:03:37,354 You got the boom of like inventory and companies and then 106 00:03:37,354 --> 00:03:38,888 you got the boom of the migration. 107 00:03:39,345 --> 00:03:42,857 right. And then in two thousand twenty one is when people 108 00:03:42,857 --> 00:03:46,518 who were in the industry for, you know, five plus years 109 00:03:47,059 --> 00:03:47,739 really 110 00:03:48,176 --> 00:03:52,193 benefited from the growth and their pipeline and the values just 111 00:03:52,193 --> 00:03:55,903 skyrocketed so fast. I didn't get I didn't catch that tailwind. 112 00:03:55,903 --> 00:03:56,703 I didn't know 113 00:03:57,163 --> 00:03:57,864 anybody 114 00:03:57,184 --> 00:03:57,748 Yeah. 115 00:03:57,944 --> 00:04:00,345 in this industry besides the people in my office. 116 00:04:00,975 --> 00:04:03,776 I didn't know a single person who owned commercial real estate 117 00:04:03,816 --> 00:04:04,166 in my 118 00:04:04,102 --> 00:04:04,453 Yeah. 119 00:04:04,166 --> 00:04:05,397 life. So for me 120 00:04:05,319 --> 00:04:05,570 Yep. 121 00:04:05,397 --> 00:04:07,278 it was like really starting from scratch here. 122 00:04:07,278 --> 00:04:08,025 So I miss 123 00:04:08,576 --> 00:04:10,737 that take off by a couple of years but 124 00:04:11,323 --> 00:04:13,234 so but it was a good time to, you know, start 125 00:04:13,234 --> 00:04:17,097 planting some seeds that would you know, start producing fruit over 126 00:04:17,097 --> 00:04:18,928 the next few years till to now. 127 00:04:20,178 --> 00:04:21,199 Yeah, that's awesome. 128 00:04:21,619 --> 00:04:24,659 It's you still got to ride it and hopefully you guys 129 00:04:24,659 --> 00:04:26,450 probably also didn't have as much of 130 00:04:26,879 --> 00:04:27,900 peak to trough. 131 00:04:28,400 --> 00:04:30,282 Like I know we had a big trough here where it 132 00:04:30,282 --> 00:04:32,654 took a long time to let the air out and let 133 00:04:32,654 --> 00:04:35,426 things like a cool down a bit like rental rate wise. 134 00:04:35,847 --> 00:04:38,178 Although you guys probably had a lot of new construction from 135 00:04:38,178 --> 00:04:38,849 what I gather. 136 00:04:39,471 --> 00:04:41,443 Yeah, we have had a lot of new construction. 137 00:04:42,293 --> 00:04:44,796 we there was probably like 138 00:04:45,973 --> 00:04:50,335 a six to eight month period when that rate hike went 139 00:04:50,335 --> 00:04:53,537 down in two thousand twenty two where people kind of maybe 140 00:04:53,877 --> 00:04:56,218 put the pencils down a little bit, but we were still 141 00:04:56,218 --> 00:04:59,699 moving around, you know, tenants and owner occupants who were just 142 00:04:59,699 --> 00:05:02,106 like, hey, I don't care what interest rates are doing. 143 00:05:02,326 --> 00:05:04,207 I'm out of space and I need more of it now. 144 00:05:04,367 --> 00:05:06,608 So we were still able to capitalize on some of those 145 00:05:06,608 --> 00:05:07,028 deals 146 00:05:07,488 --> 00:05:08,919 and it didn't last very long. 147 00:05:08,919 --> 00:05:10,170 That slowdown didn't last very long. 148 00:05:10,170 --> 00:05:11,870 It kind of ramped back up and still 149 00:05:12,331 --> 00:05:15,928 at our peak. Like right now in Boise industrial real estate, 150 00:05:16,468 --> 00:05:19,131 our lease rates are at ATH like they say in the 151 00:05:19,131 --> 00:05:20,333 stock market all time high. 152 00:05:20,794 --> 00:05:23,202 So it's kinda strange to say that because I don't know 153 00:05:23,202 --> 00:05:23,672 how many 154 00:05:24,153 --> 00:05:26,496 you know Western state markets can say that right now. 155 00:05:26,496 --> 00:05:26,856 So we're 156 00:05:27,349 --> 00:05:28,450 there is a little bit of a 157 00:05:29,284 --> 00:05:29,665 anomalous. 158 00:05:30,430 --> 00:05:34,053 Yeah. Every market is different. that's the fun part about doing 159 00:05:34,053 --> 00:05:36,558 deals in all these different markets is you figure out the 160 00:05:36,558 --> 00:05:39,985 dynamic and it you can't bring your assumptions from whatever market 161 00:05:39,985 --> 00:05:41,628 you came to. It they're all unique. 162 00:05:42,060 --> 00:05:43,369 That is a little bit of challenge. 163 00:05:44,038 --> 00:05:44,608 Yeah. 164 00:05:45,069 --> 00:05:48,091 win reversing back to when you guys got started, do you 165 00:05:48,091 --> 00:05:50,853 get some Matt Mahoney time as you got started? 166 00:05:50,853 --> 00:05:52,871 I'm working on a deal with him right now, so I'm 167 00:05:52,871 --> 00:05:54,916 getting a lot of Matt time and I'm enjoying it. 168 00:05:55,157 --> 00:05:58,619 He's a great guy to learn from and to work with. 169 00:05:58,880 --> 00:06:01,702 He's got a lot of experience, he knows what to do, 170 00:06:02,202 --> 00:06:04,717 and it's been a real blessing to get to know him 171 00:06:04,717 --> 00:06:06,178 and spend some time and work on a deal. 172 00:06:06,178 --> 00:06:08,813 I was curious if you've gotten some Matt time coming up 173 00:06:08,813 --> 00:06:09,494 through the ranks. 174 00:06:09,787 --> 00:06:12,078 yeah. Matt's been a great mentor for me and has grown 175 00:06:12,078 --> 00:06:14,310 to be, you know, a friend to me now being here 176 00:06:14,310 --> 00:06:15,060 for long enough. 177 00:06:15,541 --> 00:06:17,965 And yeah, he does a good job kind of showing, you 178 00:06:17,965 --> 00:06:22,207 know, what profo professionalism and commitment looks like to your career. 179 00:06:22,640 --> 00:06:25,412 all the principals in our office were great mentors to me. 180 00:06:25,412 --> 00:06:27,973 Him, Jason O'Very, just the name of a few, all really 181 00:06:27,973 --> 00:06:28,513 help me out. 182 00:06:29,367 --> 00:06:31,469 and can you bench more than Matt can? 183 00:06:32,552 --> 00:06:35,482 I don't know. I don't know what he's benching right now. 184 00:06:36,369 --> 00:06:36,855 Okay. 185 00:06:37,234 --> 00:06:39,795 I kind of I definitely probably peaked on that when I 186 00:06:39,795 --> 00:06:42,341 was playing college football and I'm more focused now on 187 00:06:43,023 --> 00:06:45,086 you know, my cardio and mobility 188 00:06:45,611 --> 00:06:48,671 and whenever when I bench too heavy my shoulders kinda flare 189 00:06:48,671 --> 00:06:49,212 up. So 190 00:06:49,120 --> 00:06:49,551 Yes. 191 00:06:49,572 --> 00:06:50,772 more focused on mobility 192 00:06:50,412 --> 00:06:50,913 Yes. 193 00:06:50,772 --> 00:06:51,982 right now and flexibility and 194 00:06:51,975 --> 00:06:52,483 Yes. 195 00:06:51,982 --> 00:06:52,492 cardio. 196 00:06:52,977 --> 00:06:55,060 friendly question I had to ask 'cause I was 197 00:06:55,053 --> 00:06:55,333 No, 198 00:06:55,060 --> 00:06:55,971 like, dang Matt, 199 00:06:55,913 --> 00:06:56,294 he 200 00:06:55,971 --> 00:06:56,699 okay, you 201 00:06:56,690 --> 00:06:57,170 Yeah. 202 00:06:56,699 --> 00:06:58,052 know what you're doing over there. 203 00:06:58,337 --> 00:06:59,505 he does stay looking buff. 204 00:06:59,998 --> 00:07:02,153 Yeah, I love it. That's awesome. 205 00:07:02,594 --> 00:07:05,021 And then you came in, you got a partner now? 206 00:07:06,129 --> 00:07:06,399 Yeah, 207 00:07:06,284 --> 00:07:06,514 you 208 00:07:06,399 --> 00:07:06,669 so 209 00:07:06,514 --> 00:07:07,968 work a team or how does that work? 210 00:07:08,210 --> 00:07:09,505 yeah, so I work a team. 211 00:07:10,155 --> 00:07:12,492 you know, we all kind of team up as much as 212 00:07:12,492 --> 00:07:13,672 we can in our office. 213 00:07:14,312 --> 00:07:16,333 some of the mentors that have been here for me, we 214 00:07:16,333 --> 00:07:18,784 still have clients that we share relationships with. 215 00:07:19,308 --> 00:07:21,559 but I've kind of I've built I've started building a team 216 00:07:21,559 --> 00:07:24,319 myself. My partner Mike, he's an associate in our office, been 217 00:07:24,319 --> 00:07:27,141 here for two years now and we're really out trying to 218 00:07:27,341 --> 00:07:29,022 try to take some market share together. 219 00:07:29,910 --> 00:07:32,598 Yeah. That's awesome. What made you decide to do that? 220 00:07:32,997 --> 00:07:36,174 it was just I I've just really loved the idea of 221 00:07:36,238 --> 00:07:38,831 teaming up with somebody that was kind of, you know, similar 222 00:07:38,831 --> 00:07:41,684 to my age, running the same speed as me, hungry. 223 00:07:42,405 --> 00:07:45,147 and he's an Idaho native and we were friends in the 224 00:07:45,147 --> 00:07:45,637 past. 225 00:07:46,041 --> 00:07:49,333 we met through some mutual friends, went to Boise State together, 226 00:07:49,333 --> 00:07:50,923 so it was just a good fit, good time and good 227 00:07:50,923 --> 00:07:51,473 opportunity. 228 00:07:52,620 --> 00:07:55,832 Yeah. I love the entrepreneurial vibe, right? 229 00:07:55,832 --> 00:07:59,014 Nothing better than okay, let's build a squad and like a 230 00:07:59,014 --> 00:08:02,017 figure out what the team needs to grow the best and 231 00:08:02,017 --> 00:08:04,819 then like you're in charge and like you can make those 232 00:08:04,819 --> 00:08:06,990 calls and you can have the vision and you can go 233 00:08:06,990 --> 00:08:07,591 execute it. 234 00:08:08,047 --> 00:08:10,582 That's right. Yeah, I wasn't really, you know, set out on 235 00:08:10,582 --> 00:08:13,056 saying, Hey, I need to go hire someone to build a 236 00:08:13,056 --> 00:08:15,300 team. It was more of just the right opportunity with Mike 237 00:08:15,300 --> 00:08:17,200 coming in, it just felt like the right time to kind 238 00:08:17,200 --> 00:08:17,891 of form a team. 239 00:08:18,651 --> 00:08:21,653 Yeah. I love talking with the young guns that are digging 240 00:08:21,653 --> 00:08:25,572 up deals. So walk me through like what's the general program 241 00:08:25,572 --> 00:08:27,933 for a day when you're like, okay, it's time to go 242 00:08:27,933 --> 00:08:28,554 hunting. 243 00:08:29,288 --> 00:08:30,257 What happens next? 244 00:08:31,482 --> 00:08:34,335 So every day we kinda I like to model my business 245 00:08:34,335 --> 00:08:37,358 kind of just the way we modeled you know our process 246 00:08:37,358 --> 00:08:39,490 for success playing football at Boise State. 247 00:08:40,070 --> 00:08:43,844 And for me we have like our four step process and 248 00:08:43,844 --> 00:08:45,975 every day we come in we have to know like 249 00:08:46,616 --> 00:08:48,037 are we spending time 250 00:08:48,805 --> 00:08:51,896 completing activities in one of these four things. 251 00:08:51,896 --> 00:08:54,578 It and it's kind of like my flywheel, it's all in 252 00:08:54,578 --> 00:08:57,789 order, it's all through the coaching program, the Massimo coaching program 253 00:08:57,789 --> 00:08:59,150 that I went through. But 254 00:08:59,006 --> 00:08:59,380 Nice. 255 00:08:59,850 --> 00:09:03,872 it's build market presence, run effective prospecting campaigns, 256 00:09:04,312 --> 00:09:06,353 work with high quality clients in my niche. 257 00:09:07,030 --> 00:09:09,573 and exceed client expectations in every deal. 258 00:09:09,774 --> 00:09:11,896 So if it's not one of those four things, 259 00:09:12,317 --> 00:09:14,210 it's like, hey, we're getting a little distracted here. 260 00:09:14,271 --> 00:09:16,755 what what's a revenue producing activity we can do? 261 00:09:16,855 --> 00:09:17,436 Lately, 262 00:09:17,251 --> 00:09:17,557 Yes. 263 00:09:17,817 --> 00:09:20,220 you know, for us it's been that fourth one that 264 00:09:20,969 --> 00:09:24,282 exceed client expectations on each deal, come in and make sure 265 00:09:24,282 --> 00:09:26,304 that you know the deals we have on our contract, the 266 00:09:26,304 --> 00:09:27,265 listings we have 267 00:09:27,785 --> 00:09:31,318 marketed, like what are we doing to make sure that we're 268 00:09:31,318 --> 00:09:35,012 moving that deal relationship forward and the client knows what we're 269 00:09:35,012 --> 00:09:37,549 up to make sure they know they're getting a great service 270 00:09:37,549 --> 00:09:38,009 from us. 271 00:09:38,710 --> 00:09:40,852 As we've been getting busier, that's been kinda taking up a 272 00:09:40,852 --> 00:09:42,917 lot of our time, but I mean you still have to 273 00:09:42,917 --> 00:09:45,867 time block those hours to make sure you're, you know, 274 00:09:46,755 --> 00:09:50,368 running your effective prospecting campaigns. If we have listings, we're gonna 275 00:09:50,368 --> 00:09:52,310 make sure that we're gonna turn over every stone. 276 00:09:52,310 --> 00:09:55,293 We wanna make sure everybody in the immediate area knows about 277 00:09:55,293 --> 00:09:56,274 that opportunity 278 00:09:56,694 --> 00:09:58,356 and why they should be considering it. 279 00:09:58,716 --> 00:10:01,679 And then building market presence is something that I've really tried 280 00:10:01,679 --> 00:10:01,879 to 281 00:10:02,614 --> 00:10:05,348 take I guess control of as I have more experience that 282 00:10:05,348 --> 00:10:07,920 I can, you know, advertise to people going 283 00:10:07,585 --> 00:10:07,953 Yeah. 284 00:10:07,920 --> 00:10:10,273 out in public and really knowing what my value is and 285 00:10:10,273 --> 00:10:10,813 what people 286 00:10:11,274 --> 00:10:12,985 might need for me. So whether it's going to 287 00:10:13,405 --> 00:10:17,978 my networking clubs or taking, you know, a client out golfing 288 00:10:17,978 --> 00:10:20,380 to see, you know, where I can help them next or 289 00:10:20,380 --> 00:10:22,393 if they know anybody I can help out with. 290 00:10:22,393 --> 00:10:22,713 So 291 00:10:23,654 --> 00:10:25,507 that's kind of what our days look like right now. 292 00:10:26,161 --> 00:10:27,702 I love it. That's great structure. 293 00:10:27,702 --> 00:10:28,352 The Massimo 294 00:10:28,009 --> 00:10:28,299 Yeah. 295 00:10:28,352 --> 00:10:30,904 coaching is great. And just like a coaching in general. 296 00:10:31,224 --> 00:10:31,684 Like 297 00:10:31,352 --> 00:10:31,674 Yeah. 298 00:10:31,946 --> 00:10:33,157 investment in yourself, 299 00:10:33,637 --> 00:10:37,469 you know that. And then which coach or coaching program resonates 300 00:10:37,469 --> 00:10:41,248 with your style, your age, your trajectory, your experience, et cetera. 301 00:10:41,876 --> 00:10:44,615 it's always funny to think of do you split those in 302 00:10:44,615 --> 00:10:47,076 given days or within the same day? 303 00:10:47,476 --> 00:10:50,849 And like it's very easy, I think, to start with the 304 00:10:51,170 --> 00:10:54,284 client work. I think of what deals are closest to the 305 00:10:54,284 --> 00:10:56,495 end zone. You want to push them across and then you 306 00:10:56,495 --> 00:10:56,665 can 307 00:10:56,557 --> 00:10:56,893 Yeah. 308 00:10:56,665 --> 00:10:59,687 like work back a little bit to make sure that like 309 00:11:00,087 --> 00:11:02,868 done gets done, like deals get completed. 310 00:11:03,601 --> 00:11:04,261 but then 311 00:11:05,052 --> 00:11:08,854 if you always work that way, then whatever is last 312 00:11:09,514 --> 00:11:11,763 doesn't always get like a done. 313 00:11:11,763 --> 00:11:12,223 So that 314 00:11:12,077 --> 00:11:12,442 Yeah. 315 00:11:12,223 --> 00:11:15,160 is a total challenge I'm sure you're now very familiar with 316 00:11:15,160 --> 00:11:17,852 of the busier you get, the more you still need to 317 00:11:17,852 --> 00:11:20,013 like prioritize those time blocks, so to speak. 318 00:11:20,327 --> 00:11:22,711 Yeah, sometimes you're a little more reactive than you'd like to 319 00:11:22,711 --> 00:11:23,001 be, 320 00:11:23,652 --> 00:11:26,747 versus having control of like, no one's gonna take away my 321 00:11:26,747 --> 00:11:28,780 prospecting hour, but sometimes it's like, 322 00:11:29,068 --> 00:11:29,278 Don't 323 00:11:29,161 --> 00:11:29,391 Hey 324 00:11:29,278 --> 00:11:29,539 touch 325 00:11:29,391 --> 00:11:29,741 Yeah. 326 00:11:29,539 --> 00:11:32,156 that prospecting hour, I'm sorry, I'm locking the door. 327 00:11:32,687 --> 00:11:36,561 don't touch that prospecting hour, but hey, sometimes like we just 328 00:11:36,561 --> 00:11:38,953 got this deal this new deal in our contract and this 329 00:11:38,953 --> 00:11:41,291 owner needs to get this property, you know, or we just 330 00:11:41,291 --> 00:11:43,262 got this new deal listed and this owner needs to get 331 00:11:43,262 --> 00:11:45,884 this property marketed ASAP. Like they're counting on us to get 332 00:11:45,884 --> 00:11:47,906 going because they have plans and they have stuff they need 333 00:11:47,906 --> 00:11:49,587 to do. So there's a few things that I need to 334 00:11:49,587 --> 00:11:50,088 handle on 335 00:11:51,130 --> 00:11:53,844 my back end so that our marketing team can have what 336 00:11:53,844 --> 00:11:56,027 they need to get their process going. 337 00:11:56,368 --> 00:11:59,536 Whereas if I spend the whole morning prospecting and I don't 338 00:11:59,536 --> 00:12:02,020 get to that new listing till the afternoon, now I just 339 00:12:02,020 --> 00:12:03,563 pushed it back another half day. 340 00:12:03,982 --> 00:12:04,224 So 341 00:12:04,054 --> 00:12:04,374 Yeah. 342 00:12:04,224 --> 00:12:04,484 yeah. 343 00:12:05,250 --> 00:12:08,352 It takes time to market listings, no doubt. 344 00:12:08,469 --> 00:12:08,755 Yeah. 345 00:12:09,973 --> 00:12:13,232 And then you focus primarily on industrial. 346 00:12:13,270 --> 00:12:16,425 I figure some in markets your size you would have people 347 00:12:16,425 --> 00:12:19,357 who do the generalist approach and then people that do like 348 00:12:19,357 --> 00:12:22,529 the asset specific approach. What made you do that? 349 00:12:23,431 --> 00:12:26,412 Yeah, I mean, no doubt, there are stuff that will we 350 00:12:26,412 --> 00:12:28,332 will work on outside of industrial. 351 00:12:29,173 --> 00:12:32,945 We just kind of like targeting our prospecting towards industrial because 352 00:12:33,018 --> 00:12:36,449 we really enjoy the clientele of working with, you know, owner 353 00:12:36,449 --> 00:12:40,236 occupants and developers that kind of personality just fit who we 354 00:12:40,236 --> 00:12:41,547 enjoy spending time with. 355 00:12:42,109 --> 00:12:44,832 but yeah, when you're in a market at that size, you're 356 00:12:44,832 --> 00:12:48,954 definitely not gonna say no to many deals that are outside 357 00:12:48,954 --> 00:12:50,834 of what you like to prospect. 358 00:12:51,055 --> 00:12:51,855 Like a lot of time 359 00:12:52,368 --> 00:12:55,058 you know, industrial building owners in our market could also own 360 00:12:55,058 --> 00:12:57,100 an office building and they say, Hey Nick, can you help 361 00:12:57,100 --> 00:12:59,821 us sell this office building? Well industrial and office kind of 362 00:12:59,821 --> 00:13:01,757 go hand in hand. Like we know how to sell an 363 00:13:01,748 --> 00:13:01,982 Why, 364 00:13:01,757 --> 00:13:02,147 office 365 00:13:01,982 --> 00:13:02,804 yes, I can. 366 00:13:03,188 --> 00:13:03,628 Yeah. 367 00:13:04,028 --> 00:13:06,246 We know how to sell an office building and we know 368 00:13:06,246 --> 00:13:08,257 who the buyers are for that and how to find the 369 00:13:08,257 --> 00:13:08,987 tenant for it. 370 00:13:09,445 --> 00:13:12,307 so that's like stuff we'll work on too as well. 371 00:13:13,032 --> 00:13:16,466 Yeah, and so you make all your prospecting calls, you get 372 00:13:16,466 --> 00:13:18,968 referrals, you're talking about a networking group. 373 00:13:19,509 --> 00:13:22,892 It's so funny to think of where deals come from and 374 00:13:22,892 --> 00:13:24,974 how much of that is repeatable 375 00:13:25,615 --> 00:13:27,786 and a lot of it just comes down to being in 376 00:13:27,786 --> 00:13:28,337 the mix. 377 00:13:29,188 --> 00:13:29,707 That's right. 378 00:13:29,498 --> 00:13:32,581 And then you Yeah, so I'd be curious where most of 379 00:13:32,581 --> 00:13:34,383 your deals come from or if you have any 380 00:13:34,803 --> 00:13:37,115 stories of ones that have come to you from places you 381 00:13:37,115 --> 00:13:37,756 didn't expect. 382 00:13:38,810 --> 00:13:41,688 You know, most of my deals have came off of you 383 00:13:41,688 --> 00:13:41,889 know 384 00:13:42,917 --> 00:13:45,688 piggybacking off of other people's listings 385 00:13:46,189 --> 00:13:48,360 and just being proactive and prospecting. 386 00:13:48,500 --> 00:13:52,381 So when you first start out, you don't really have anybody 387 00:13:52,622 --> 00:13:55,103 that's gonna trust a new guy or you haven't built those 388 00:13:55,103 --> 00:13:58,438 relationships yet to go out and have someone hire you to 389 00:13:58,438 --> 00:14:00,099 list their property for sale or for lease. 390 00:14:00,439 --> 00:14:03,737 So what you gotta do is take other people's off other 391 00:14:03,737 --> 00:14:05,898 people's listings in your office as your own. 392 00:14:05,998 --> 00:14:09,290 And they'd be glad to have you go peddle their listing 393 00:14:09,290 --> 00:14:11,210 to help them get it leased or get it sold and 394 00:14:11,210 --> 00:14:12,901 everybody wins. So 395 00:14:12,598 --> 00:14:12,870 Yeah. 396 00:14:13,452 --> 00:14:15,872 some of my best deals is have just been saying, hey, 397 00:14:16,376 --> 00:14:18,578 this is a sellable or leaseable property. 398 00:14:19,089 --> 00:14:20,891 let me see if I can go find a buyer or 399 00:14:20,891 --> 00:14:23,880 tenant for it. let me go canvass the neighbors or call 400 00:14:23,880 --> 00:14:26,943 people on that submarket. And I've made hay that way. 401 00:14:27,717 --> 00:14:29,590 Yeah, having a listing, 402 00:14:30,151 --> 00:14:34,364 like that's no higher probability or like hit percentage of having 403 00:14:34,364 --> 00:14:36,267 a listing when you start your prospecting 404 00:14:36,668 --> 00:14:36,878 and 405 00:14:36,721 --> 00:14:37,051 That's right. 406 00:14:36,878 --> 00:14:39,432 like having that be the reason why and what you're talking 407 00:14:39,432 --> 00:14:39,743 about. 408 00:14:40,388 --> 00:14:40,831 sure. 409 00:14:41,593 --> 00:14:44,477 I love that. And then are you I was doing a 410 00:14:44,477 --> 00:14:48,879 little digging around. Idaho Power is maybe you're selling land for. 411 00:14:48,879 --> 00:14:50,979 You've done some land deals too. 412 00:14:51,708 --> 00:14:52,076 That's right. 413 00:14:52,380 --> 00:14:55,515 land deals for you are probably more prevalent than they are 414 00:14:55,515 --> 00:14:58,925 for me. We have like a lot of infill and not 415 00:14:58,925 --> 00:15:02,127 a lot of available land, and then like a land listings 416 00:15:02,127 --> 00:15:06,780 that require infrastructure, entitlements, approvals, or 417 00:15:06,780 --> 00:15:08,112 some like a change of use. 418 00:15:08,860 --> 00:15:11,282 those have been tough for me, I would say. 419 00:15:11,282 --> 00:15:13,304 Those are the ones that can sit a long time. 420 00:15:13,304 --> 00:15:15,827 You gotta be super proactive and you need to already know 421 00:15:15,827 --> 00:15:19,130 what the plan is for how someone's gonna walk the path 422 00:15:19,130 --> 00:15:21,562 on land. So I'd love to hear more about your land 423 00:15:21,562 --> 00:15:22,213 experience. 424 00:15:22,770 --> 00:15:23,600 Yeah, so 425 00:15:24,321 --> 00:15:24,671 you were 426 00:15:24,542 --> 00:15:24,693 All 427 00:15:24,671 --> 00:15:24,941 looking 428 00:15:24,693 --> 00:15:25,317 my gnarly 429 00:15:24,941 --> 00:15:25,542 on some 430 00:15:25,317 --> 00:15:26,503 stories are from land. 431 00:15:26,823 --> 00:15:29,381 Yeah, you're probably you're oh yeah you were probably looking at 432 00:15:29,381 --> 00:15:32,086 the blog on our website, some recently sold land deals. 433 00:15:33,075 --> 00:15:36,400 yeah, so when I started, and I hadn't really found my 434 00:15:36,400 --> 00:15:40,738 niche yet you know, working with industrial property owners and 435 00:15:41,438 --> 00:15:42,859 occupants and developers. 436 00:15:43,626 --> 00:15:46,991 My first assignment when I when one of my mentors gave 437 00:15:46,991 --> 00:15:47,812 me Jason, 438 00:15:48,473 --> 00:15:51,428 he he's got a pretty good longstanding relationship with one of 439 00:15:51,428 --> 00:15:52,860 the national home builders in town. 440 00:15:53,180 --> 00:15:55,163 So he was like, Hey, this would be a great way 441 00:15:55,163 --> 00:15:57,076 to get your feet wet and learn about 442 00:15:57,666 --> 00:16:02,308 land development very fast was start calling on you know 20 443 00:16:02,308 --> 00:16:04,089 to 40 to 100 acre 444 00:16:04,709 --> 00:16:08,031 sites that might be fit for residential development. 445 00:16:08,031 --> 00:16:10,362 And if you find someone that says, you know, they've maybe 446 00:16:10,362 --> 00:16:12,669 sell or look at an offer, we'll kick it to these 447 00:16:12,669 --> 00:16:13,960 guys and they'll make an offer. 448 00:16:14,140 --> 00:16:16,061 So I started learning really fast 449 00:16:16,581 --> 00:16:19,402 what the difference between current zoning is, 450 00:16:20,103 --> 00:16:23,609 future land use designations and what the future zoning is gonna 451 00:16:23,609 --> 00:16:26,341 be. Annexation, I had no idea what that was as a 452 00:16:26,341 --> 00:16:29,566 property in city limits or is in the county jurisdiction, I 453 00:16:29,566 --> 00:16:31,968 started learning how to look at a site and see where 454 00:16:31,968 --> 00:16:32,998 the utilities are. 455 00:16:33,730 --> 00:16:37,993 access, shape, topography, what makes a land development site 456 00:16:37,993 --> 00:16:39,494 interesting to a home builder. 457 00:16:40,075 --> 00:16:42,476 It could be more efficient with their site planning if it's 458 00:16:42,476 --> 00:16:44,658 square, if there's access points, 459 00:16:45,228 --> 00:16:47,580 if there's no way to access it from a rain main 460 00:16:47,580 --> 00:16:49,081 road, how are they gonna access it? 461 00:16:49,081 --> 00:16:50,432 Who's gonna put in that road? 462 00:16:50,872 --> 00:16:54,415 If it's not in city limits, can it is it contiguous 463 00:16:54,415 --> 00:16:55,736 to city limits so it can be 464 00:16:56,156 --> 00:16:59,258 annexed and have those city services if not 465 00:17:00,099 --> 00:17:01,620 is their capacity to 466 00:17:02,120 --> 00:17:04,041 dig a well and build septic tanks. 467 00:17:04,382 --> 00:17:07,003 So I learned about all that stuff really fast and then 468 00:17:07,003 --> 00:17:10,185 that's obviously kind of translated to you know being able to 469 00:17:10,185 --> 00:17:11,975 look at a development site and say, man 470 00:17:12,398 --> 00:17:13,678 this could be good for 471 00:17:14,440 --> 00:17:16,351 you know what's the highest and best use for this site? 472 00:17:16,351 --> 00:17:20,504 Is this gonna be good for you know multi-tenant industrial? 473 00:17:20,504 --> 00:17:23,626 Is it just gonna be you know single tenant industrial? 474 00:17:23,626 --> 00:17:26,178 Is it gonna be spaces is this just gonna be is 475 00:17:26,178 --> 00:17:29,019 this need to be farmland for a while if so maybe 476 00:17:29,019 --> 00:17:31,341 it's not priced industrial right now maybe it needs to be 477 00:17:31,341 --> 00:17:35,163 priced for ag land prices so it that experience just kind 478 00:17:35,163 --> 00:17:35,353 of 479 00:17:36,214 --> 00:17:39,720 in the ringer learning and I guess bird dogging for a 480 00:17:39,720 --> 00:17:41,571 home builder taught me a lot about land development. 481 00:17:42,311 --> 00:17:43,483 Oh, that's the best. 482 00:17:43,658 --> 00:17:44,082 Yeah. 483 00:17:44,384 --> 00:17:48,060 that's gonna get you closer to industrial land development and that's 484 00:17:48,060 --> 00:17:49,311 the that's 485 00:17:49,124 --> 00:17:49,509 That's right. 486 00:17:49,311 --> 00:17:51,595 where the home runs live where you could sell the land, 487 00:17:51,595 --> 00:17:53,097 lease the building, sell the building. 488 00:17:53,604 --> 00:17:53,955 That's right. 489 00:17:54,684 --> 00:17:57,347 So good, yeah. And dealing with home builders, they are their 490 00:17:57,347 --> 00:17:57,647 own 491 00:17:58,068 --> 00:17:58,588 like 492 00:17:59,315 --> 00:18:02,668 food group. I felt like sharky was the vibe that I 493 00:18:02,668 --> 00:18:04,119 got, but like they just 494 00:18:04,590 --> 00:18:07,283 don't have the ability to carry land on the books for 495 00:18:07,283 --> 00:18:09,794 a long time and like they can't take a whole lot 496 00:18:09,794 --> 00:18:13,078 of risk oftentimes, and then they see a lot of sites, 497 00:18:13,078 --> 00:18:15,581 so they just kind of are their own unique buyer profile 498 00:18:15,581 --> 00:18:17,663 that you gotta get to know and be more familiar with. 499 00:18:18,387 --> 00:18:20,087 Yeah, and there's just a lot more 500 00:18:20,755 --> 00:18:21,135 like 501 00:18:21,735 --> 00:18:26,488 social challenges to building houses. Whereas if there's a public hearing 502 00:18:26,488 --> 00:18:29,929 for someone to go build some warehouses, you know, on Main 503 00:18:29,929 --> 00:18:32,660 and Main, that's not gonna be very contentious. 504 00:18:32,660 --> 00:18:35,170 But if there's a public hearing for someone to go build 505 00:18:35,290 --> 00:18:36,591 a hundred and fifty homes 506 00:18:36,991 --> 00:18:40,205 on a tract on a farm tract, you know, next to 507 00:18:40,205 --> 00:18:43,768 another couple hundred homes, none of those neighbors want more homes 508 00:18:43,768 --> 00:18:45,859 behind them. So it's just it yeah. 509 00:18:45,646 --> 00:18:47,654 Really? They would rather have a warehouse? 510 00:18:48,402 --> 00:18:49,013 I mean the 511 00:18:48,841 --> 00:18:49,232 Or they 512 00:18:49,013 --> 00:18:49,364 warehouse 513 00:18:49,232 --> 00:18:49,453 or 514 00:18:49,364 --> 00:18:49,524 just 515 00:18:49,453 --> 00:18:49,653 they'd 516 00:18:49,524 --> 00:18:49,755 doesn't 517 00:18:49,653 --> 00:18:49,984 rather 518 00:18:49,755 --> 00:18:50,226 get much 519 00:18:49,984 --> 00:18:51,829 just have open space. Yeah. 520 00:18:51,389 --> 00:18:52,651 they'd rather just have open space. 521 00:18:52,651 --> 00:18:55,177 The warehouse doesn't get as much publicity or attention. 522 00:18:55,977 --> 00:18:56,487 Yeah. 523 00:18:57,368 --> 00:18:58,649 Interesting. Yeah. 524 00:18:58,414 --> 00:18:58,885 Unless it's 525 00:18:58,749 --> 00:18:58,939 I 526 00:18:58,885 --> 00:18:58,947 a 527 00:18:58,939 --> 00:18:59,129 could 528 00:18:58,947 --> 00:18:59,249 data 529 00:18:59,129 --> 00:18:59,409 see 530 00:18:59,249 --> 00:19:00,325 center as of recently. 531 00:19:00,647 --> 00:19:03,302 Yeah, in the Central Valley where we have a lot of 532 00:19:03,302 --> 00:19:05,731 farmland, right? That's where there's been a lot of 533 00:19:06,311 --> 00:19:09,374 new development and then industrial is now a food group that 534 00:19:09,374 --> 00:19:12,426 like every site you see up there you can see what 535 00:19:12,426 --> 00:19:15,048 it used to be proposed as, what it is now and 536 00:19:15,048 --> 00:19:16,178 to see which ones actually 537 00:19:16,699 --> 00:19:18,460 like make it across the finish line. 538 00:19:19,567 --> 00:19:19,787 Right. 539 00:19:20,218 --> 00:19:23,163 you get to compete with all the big shops I would 540 00:19:23,163 --> 00:19:26,216 imagine on occasion. you find that very often or most of 541 00:19:26,216 --> 00:19:29,131 the time are you finding things before there's much competition to 542 00:19:29,131 --> 00:19:29,562 be had? 543 00:19:30,283 --> 00:19:32,452 No, it's definitely competitive in our market. 544 00:19:32,452 --> 00:19:33,143 You know, a lot of my 545 00:19:33,033 --> 00:19:33,335 Even 546 00:19:33,143 --> 00:19:33,754 competitors 547 00:19:33,335 --> 00:19:34,903 brokers are moving up there. 548 00:19:35,666 --> 00:19:38,296 Yeah, there's no, a lot of my competitors do a great 549 00:19:38,296 --> 00:19:39,598 job as well. And 550 00:19:40,171 --> 00:19:40,952 it's definitely 551 00:19:42,109 --> 00:19:44,770 a small town still. Like it you'd be it's very tough 552 00:19:44,770 --> 00:19:47,592 to find a piece of land that, you know, a developer 553 00:19:47,592 --> 00:19:50,521 doesn't already own or is open to, you know, for a 554 00:19:50,521 --> 00:19:51,952 new developer to come in town. 555 00:19:52,072 --> 00:19:54,393 There's a few players in town that kind of have their 556 00:19:54,393 --> 00:19:56,784 flag already planted on almost every corner. 557 00:19:56,784 --> 00:20:00,491 So there the it's definitely you gotta that's that kinda goes 558 00:20:00,491 --> 00:20:03,182 back to my point when saying that if you say I'm 559 00:20:03,182 --> 00:20:04,138 only gonna you know, 560 00:20:04,578 --> 00:20:07,628 sell industrial land and lease up those projects and sell 'em, 561 00:20:07,628 --> 00:20:10,319 that's all I'm gonna do. There you might not, you know 562 00:20:10,659 --> 00:20:14,014 have enough on your plate, which is why if somebody says, 563 00:20:14,014 --> 00:20:14,856 Hey Nick, can you help 564 00:20:15,269 --> 00:20:18,566 my brother purchase a four million dollar office building then yeah 565 00:20:18,621 --> 00:20:18,802 we'll 566 00:20:19,536 --> 00:20:20,086 Yeah. 567 00:20:20,487 --> 00:20:21,127 No doubt. 568 00:20:21,013 --> 00:20:21,362 Come on. 569 00:20:21,499 --> 00:20:22,859 it is wild to 570 00:20:23,440 --> 00:20:27,179 see that land is always old game or like 571 00:20:26,987 --> 00:20:27,417 It is. 572 00:20:27,179 --> 00:20:29,451 that yeah, like a generational 573 00:20:29,951 --> 00:20:30,332 and 574 00:20:30,903 --> 00:20:34,185 just figuring out why is there now a moment 575 00:20:34,825 --> 00:20:38,558 to transition to a new relationship or and something that has 576 00:20:38,558 --> 00:20:40,909 changed that might open up a new opportunity. 577 00:20:41,288 --> 00:20:41,594 Right. 578 00:20:42,316 --> 00:20:45,208 I was looking for a company in Seattle. 579 00:20:45,434 --> 00:20:48,856 that was looking to move out of Seattle being high cost 580 00:20:48,936 --> 00:20:53,517 of labor, high cost of real estate, trying to move closer 581 00:20:53,517 --> 00:20:58,150 to customers that they ship to that's generally widespread throughout the 582 00:20:58,150 --> 00:21:01,182 country. And we were looking at adjacent markets. 583 00:21:01,222 --> 00:21:02,963 I was looking for like a two hundred 584 00:21:03,383 --> 00:21:04,394 class A 585 00:21:04,804 --> 00:21:08,946 and I was looking in Boise and the adjacent areas. 586 00:21:09,380 --> 00:21:12,731 With some family up in McCall, I've heard a lot of 587 00:21:12,731 --> 00:21:15,882 stories of some of the big boxes now being built and 588 00:21:15,882 --> 00:21:16,952 where they're being built. 589 00:21:17,393 --> 00:21:21,294 And then of course when I go to find opportunities in 590 00:21:21,574 --> 00:21:23,254 a handful of different markets, 591 00:21:23,675 --> 00:21:26,726 it was thin. It was hard to find like stuff that 592 00:21:26,726 --> 00:21:29,597 had already been built as opposed to stuff that's 593 00:21:30,305 --> 00:21:33,626 on paper going through the entitlement process. 594 00:21:34,473 --> 00:21:37,290 I would love if you wouldn't mind going through some of 595 00:21:37,290 --> 00:21:40,673 the sub markets of like which sub markets are having new 596 00:21:40,673 --> 00:21:45,082 construction or like how far east we're going or like some 597 00:21:45,082 --> 00:21:47,965 of that context that would certainly be helpful for people that 598 00:21:47,965 --> 00:21:48,505 are getting 599 00:21:48,906 --> 00:21:51,346 like acclimated to the Boise industrial market. 600 00:21:51,788 --> 00:21:54,396 Yeah, so we really only have one 601 00:21:55,457 --> 00:21:59,440 interstate freeway that runs east and west through our market. 602 00:21:59,560 --> 00:22:02,387 And you've gotta be along that corridor 603 00:22:02,867 --> 00:22:05,970 to attract tenants. So like for us, a lot of people 604 00:22:05,970 --> 00:22:09,262 in Boise when they think of inward migration and nice places 605 00:22:09,262 --> 00:22:09,663 to live, 606 00:22:10,163 --> 00:22:11,744 a lot of people think of Eagle Idaho. 607 00:22:12,065 --> 00:22:14,546 Well, Eagle Idaho is up north about twenty minutes from the 608 00:22:14,546 --> 00:22:16,598 interstate, so there's no industry in Eagle Idaho. 609 00:22:16,700 --> 00:22:19,161 It's a luxury bedroom community. So 610 00:22:18,698 --> 00:22:19,029 Yeah. 611 00:22:19,562 --> 00:22:19,952 you're 612 00:22:19,572 --> 00:22:20,083 You could buy 613 00:22:19,952 --> 00:22:20,182 it 614 00:22:20,083 --> 00:22:20,796 your house there. 615 00:22:21,102 --> 00:22:23,093 you can buy your house there, but you won't find a 616 00:22:23,093 --> 00:22:25,575 warehouse there. Or if you build a warehouse there, you might 617 00:22:25,575 --> 00:22:28,086 be having trouble getting a company that wants to be there. 618 00:22:28,680 --> 00:22:31,548 Or you really won't find land-zoned industrial there, anyways. 619 00:22:32,647 --> 00:22:33,028 But 620 00:22:33,609 --> 00:22:37,127 basically, our market kind of starts with Boise and it really 621 00:22:37,127 --> 00:22:38,538 right now only runs 622 00:22:39,118 --> 00:22:43,468 one way west, which goes to Meridian, Nampa, and 623 00:22:43,468 --> 00:22:47,771 Caldwell. Anywhere between Boise, Meridian, Nampa, and Caldwell along the 624 00:22:47,771 --> 00:22:51,142 I-84 is gonna perform pretty well if you're close to an 625 00:22:51,142 --> 00:22:52,843 interchange and you're zoned industrial. 626 00:22:53,364 --> 00:22:53,764 We 627 00:22:54,284 --> 00:22:57,746 southeast is where things are starting to change a lot pretty 628 00:22:57,746 --> 00:23:01,767 fast. That's where Micron is making their major, you know, whatever 629 00:23:01,767 --> 00:23:05,809 it is now, $25 billion expansion to their fabrication facility. 630 00:23:06,289 --> 00:23:08,951 And if you go southeast there's a little bit more develop 631 00:23:08,951 --> 00:23:10,512 it development happening now. 632 00:23:11,609 --> 00:23:14,201 there's a big developer in town putting some more houses out 633 00:23:14,201 --> 00:23:17,284 there and gonna do some business parks and gas stations, a 634 00:23:17,284 --> 00:23:18,505 little bit of retail there too. 635 00:23:18,745 --> 00:23:21,437 But it gets more challenging to go southeast because of the 636 00:23:21,437 --> 00:23:23,489 landscape. It's a little bit more 637 00:23:23,957 --> 00:23:26,279 like lava rock they call it, and it's just it's more 638 00:23:26,279 --> 00:23:29,072 expensive to blast and grade and design. 639 00:23:28,556 --> 00:23:29,118 The soil. 640 00:23:29,493 --> 00:23:29,813 Yeah, 641 00:23:29,722 --> 00:23:30,123 Yeah. 642 00:23:29,813 --> 00:23:32,165 soil. When you go west, that's where all of our farm 643 00:23:32,165 --> 00:23:33,836 ground is and that farm ground's a little bit more 644 00:23:34,597 --> 00:23:36,732 Interesting. And the micron deal's a big deal. 645 00:23:36,774 --> 00:23:39,211 I don't know anybody in Idaho that's not like did you 646 00:23:39,211 --> 00:23:39,512 hear? 647 00:23:39,904 --> 00:23:41,027 Yeah, that's it's kind of 648 00:23:41,529 --> 00:23:43,726 our low hanging fruit to talk about right now. 649 00:23:44,275 --> 00:23:46,928 Yeah. It is a big deal though when you think of 650 00:23:46,928 --> 00:23:48,900 like what growth will come from that. 651 00:23:49,400 --> 00:23:52,417 And I wonder how they're building on the lava or if 652 00:23:52,417 --> 00:23:53,167 they just like 653 00:23:53,602 --> 00:23:56,105 they needed the land and needed to be close to the 654 00:23:56,105 --> 00:23:58,971 talent and just that's price they're willing to pay. 655 00:23:59,586 --> 00:24:01,870 Well, they've owned that land around them for a long time. 656 00:24:02,451 --> 00:24:02,872 So 657 00:24:02,480 --> 00:24:02,799 Okay. 658 00:24:02,972 --> 00:24:05,627 th I guess when you're when your basis is so much 659 00:24:05,627 --> 00:24:07,851 lower than what the market rate is today, you can make 660 00:24:07,851 --> 00:24:10,625 things pencil and you're just a billion dollar company, it's all 661 00:24:11,127 --> 00:24:12,529 it it's just a different world, right? 662 00:24:13,085 --> 00:24:16,184 So they weren't new to town, they were established player, but 663 00:24:16,184 --> 00:24:19,393 they made a big investment in saying this is where we're 664 00:24:19,393 --> 00:24:20,757 gonna go with our big fab. 665 00:24:21,257 --> 00:24:24,663 That's right. Yeah. They've Micron has had an office here and 666 00:24:24,663 --> 00:24:27,779 all their land holdings out there for, you know, longer than 667 00:24:27,779 --> 00:24:27,919 I've 668 00:24:29,167 --> 00:24:30,879 Who does their real estate Nick? 669 00:24:31,641 --> 00:24:32,441 You know, I 670 00:24:33,061 --> 00:24:34,342 they I don't know how much 671 00:24:34,682 --> 00:24:35,663 Pop quiz. 672 00:24:35,883 --> 00:24:36,233 yeah, 673 00:24:36,023 --> 00:24:36,584 Yeah. 674 00:24:36,233 --> 00:24:38,687 I don't know how much they're really buying more stuff. 675 00:24:38,687 --> 00:24:41,111 I've heard of them, you know, kind of just leasing some 676 00:24:41,111 --> 00:24:44,042 of the warehouses around 'em for overflow and storage, just kind 677 00:24:44,042 --> 00:24:47,324 of going direct to, you know, whoever's building it and whoever's 678 00:24:47,324 --> 00:24:50,507 listing it. But yeah, no, that's that would be a 679 00:24:51,067 --> 00:24:52,048 pretty large account. 680 00:24:52,728 --> 00:24:54,739 Yeah. back to the sub markets. 681 00:24:54,739 --> 00:24:56,090 Can you tell me more about 'em? 682 00:24:56,090 --> 00:24:58,903 So I eighty four, we're going west, 683 00:24:59,323 --> 00:25:01,425 and then that's the path of progress. 684 00:25:01,725 --> 00:25:04,799 So I would imagine if you're a big company or if 685 00:25:04,799 --> 00:25:07,801 you're building buildings, you start as far east as you can 686 00:25:07,801 --> 00:25:11,921 get, and then just certain people will go east, certain people 687 00:25:11,921 --> 00:25:13,643 go further east, maybe 688 00:25:13,298 --> 00:25:13,645 Yeah. 689 00:25:13,643 --> 00:25:16,275 the biggest of the boxes or the furthest east. 690 00:25:16,535 --> 00:25:18,517 Is that generally how it all plays out? 691 00:25:19,079 --> 00:25:20,804 Yeah, I I'd say that 692 00:25:21,879 --> 00:25:24,740 I'd say the lar the largest buildings in our market are 693 00:25:24,740 --> 00:25:26,461 probably near the Boise Airport. 694 00:25:26,969 --> 00:25:30,020 and a lot of new construction for Class A concrete tilt 695 00:25:30,020 --> 00:25:32,811 ups has sprawled as of recently, as of the last five 696 00:25:32,811 --> 00:25:33,232 years, 697 00:25:33,652 --> 00:25:37,554 into Meridian, Nampa and Caldwell, where not too long ago, those 698 00:25:37,554 --> 00:25:40,205 were markets where you would drive along the I-84 and see 699 00:25:40,205 --> 00:25:41,726 zero concrete tilt-ups 700 00:25:42,225 --> 00:25:42,562 Okay. 701 00:25:42,286 --> 00:25:44,407 from the freeway. And now there's a lot more. 702 00:25:44,747 --> 00:25:46,288 One interesting sub market 703 00:25:47,008 --> 00:25:49,831 in that, right in the middle, kind of like they're what 704 00:25:49,831 --> 00:25:53,774 people are saying is we're resetting you know the 50 yard 705 00:25:53,774 --> 00:25:56,426 line in the center of the valley with our new highway 706 00:25:56,176 --> 00:25:56,490 Okay. 707 00:25:56,426 --> 00:25:58,510 16. So you may have heard of that 708 00:25:59,095 --> 00:26:00,436 along the I-84 709 00:26:00,897 --> 00:26:03,939 you'll have a new highway 16 that runs north and south 710 00:26:04,139 --> 00:26:06,741 and that'll get you better connection from the I-84 if you 711 00:26:06,741 --> 00:26:09,483 live in some of those northern bedroom communities like 712 00:26:10,114 --> 00:26:11,095 North Nampa, 713 00:26:11,516 --> 00:26:15,779 East Caldwell, Star, Eagle, even all the way up to Emmett, 714 00:26:15,779 --> 00:26:16,299 Idaho. 715 00:26:16,880 --> 00:26:17,280 And 716 00:26:17,701 --> 00:26:19,893 if you if you look at what they're doing in the 717 00:26:19,893 --> 00:26:20,353 new 718 00:26:20,983 --> 00:26:23,991 fifty yard line or center of the valley, you'll see like 719 00:26:23,991 --> 00:26:24,561 a lot 720 00:26:25,022 --> 00:26:28,113 of stuff that reminds me of what went down kind of 721 00:26:28,113 --> 00:26:28,743 like when 722 00:26:29,323 --> 00:26:31,664 the two ten got expanded when I was a kid 723 00:26:32,104 --> 00:26:35,725 over in the Inland Empire where all of a sudden along 724 00:26:35,725 --> 00:26:39,226 that I along that new highway sixteen is a high school, 725 00:26:39,447 --> 00:26:43,488 a gas station, some more industrial buildings, some more houses. 726 00:26:43,488 --> 00:26:45,921 So that's a really interesting sub market to be looking at 727 00:26:45,921 --> 00:26:46,301 right now. 728 00:26:47,426 --> 00:26:50,423 Yeah, that's anyone who's been there, I know when you leave 729 00:26:50,423 --> 00:26:52,365 the airport and you're going to McCall, 730 00:26:52,805 --> 00:26:56,022 it's not a straight path. There's two, three ways you could 731 00:26:56,022 --> 00:27:00,797 go. You're going through city streets or you're going around like 732 00:27:00,797 --> 00:27:03,250 a further around on the freeways than you would expect. 733 00:27:03,250 --> 00:27:04,551 So it seems like that's just 734 00:27:05,022 --> 00:27:07,465 part of the growth and for sure that'll open up new 735 00:27:07,465 --> 00:27:08,266 opportunities. 736 00:27:08,673 --> 00:27:09,159 That's right. 737 00:27:09,892 --> 00:27:11,514 I love it. That's awesome. Yeah. 738 00:27:11,554 --> 00:27:14,037 It's I would imagine there's a lot of stuff flowing out 739 00:27:14,037 --> 00:27:17,821 of the Pacific Northwest that'll also migrate your way too of 740 00:27:17,821 --> 00:27:19,253 just companies that like 741 00:27:19,702 --> 00:27:24,454 too many taxes, too high infrastructure, labor's too expensive, and that 742 00:27:24,454 --> 00:27:26,596 a lot of people would like like this will be on 743 00:27:26,596 --> 00:27:28,698 their radar more and more as time goes by. 744 00:27:29,465 --> 00:27:32,178 Yeah, definitely. That's definitely been a big driver for our market. 745 00:27:32,582 --> 00:27:35,895 our I say our commercial real estate driver, I would 746 00:27:36,322 --> 00:27:40,053 pinned down to one thing is probably our inward migration, not 747 00:27:40,053 --> 00:27:43,004 just of people come to live here, but companies following that 748 00:27:43,004 --> 00:27:43,514 as well. 749 00:27:43,946 --> 00:27:47,247 we I mean we get calls and tours weekly from coastal 750 00:27:47,247 --> 00:27:50,618 markets of companies of all sizes and all types that wanna 751 00:27:50,618 --> 00:27:52,536 be here that just say, Hey, we really just kind of 752 00:27:52,536 --> 00:27:55,047 need to get started with, you know, 753 00:27:55,787 --> 00:27:58,308 a three thousand or two thousand square foot office space, just 754 00:27:58,308 --> 00:27:59,028 the lease, 755 00:27:59,428 --> 00:28:01,829 because we have enough jobs going on over here now. 756 00:28:01,829 --> 00:28:02,819 We need to we need 757 00:28:03,665 --> 00:28:06,849 engineering company. We need administration here in this area now. 758 00:28:07,009 --> 00:28:09,743 And then we're gonna expand that to, you know, an IOS 759 00:28:09,743 --> 00:28:10,754 yard where we have 760 00:28:11,195 --> 00:28:12,095 a regional 761 00:28:12,536 --> 00:28:14,769 kind of hub for us to get all the way around 762 00:28:14,769 --> 00:28:16,140 Idaho and Eastern Oregon. 763 00:28:16,634 --> 00:28:17,135 but yeah it 764 00:28:17,817 --> 00:28:21,246 it's definitely happening. We see that coming from Washington and California 765 00:28:21,246 --> 00:28:21,736 and Oregon. 766 00:28:22,497 --> 00:28:25,537 And then you said the magic word IOS. 767 00:28:25,597 --> 00:28:28,770 I was gonna ask you about like shallow bay, small bay 768 00:28:28,770 --> 00:28:29,170 and like 769 00:28:29,766 --> 00:28:33,149 the business parks or the incubators. 770 00:28:33,817 --> 00:28:35,849 I imagine you play in the IOS space. 771 00:28:36,406 --> 00:28:37,176 Yeah, definitely. 772 00:28:37,917 --> 00:28:40,439 Yeah, and that there's a good amount of product there. 773 00:28:40,439 --> 00:28:42,471 How would you categorize that market? 774 00:28:42,471 --> 00:28:44,293 And then are people still building 775 00:28:44,729 --> 00:28:47,666 small bay and business parks? I would think that's on one 776 00:28:47,666 --> 00:28:51,199 hand like they're expensive oftentimes. If they're tilt wall, a lot 777 00:28:51,199 --> 00:28:53,491 of people do like a metal construction. 778 00:28:54,167 --> 00:28:58,031 and then I would think in Boise they would have somewhere 779 00:28:58,031 --> 00:29:00,823 it's part industrial, part retail maybe. 780 00:29:01,203 --> 00:29:01,644 So 781 00:29:02,275 --> 00:29:02,765 I love 782 00:29:03,246 --> 00:29:07,188 as a investment to purchase to buy like a small bay 783 00:29:07,188 --> 00:29:10,622 properties. So I'm always looking at markets that have them 784 00:29:11,103 --> 00:29:13,879 and preferably without snow if possible. 785 00:29:14,220 --> 00:29:16,800 But I would think that would be also two places where 786 00:29:16,800 --> 00:29:19,069 you would play and like that there'd be a market for 787 00:29:19,069 --> 00:29:19,389 'em here. 788 00:29:20,419 --> 00:29:22,500 Yeah, the small bay stuff is definitely has 789 00:29:23,124 --> 00:29:25,485 a little bit of a barrier to entry because it's so 790 00:29:25,485 --> 00:29:28,745 much more expensive to build. You don't get the economies of 791 00:29:28,745 --> 00:29:31,478 scale like you do on a, you know, 200,000 square foot 792 00:29:31,478 --> 00:29:35,800 concrete tilt-up. And some of those projects are really setting the 793 00:29:35,800 --> 00:29:38,401 benchmark for new rate rental rates in our market. 794 00:29:38,401 --> 00:29:41,066 Like some of these new small bay projects that are in 795 00:29:41,066 --> 00:29:43,417 the you know two thousand to four thousand square foot units 796 00:29:43,857 --> 00:29:46,838 are getting lease rates that our market has never seen, like 797 00:29:46,838 --> 00:29:48,982 a dollar fifty or a dollar sixty a square foot. 798 00:29:49,159 --> 00:29:52,051 triple net with triple nets in our market somewhere in the 799 00:29:52,051 --> 00:29:54,763 twenty to thirty cent a square foot range monthly. 800 00:29:55,438 --> 00:29:56,843 Yeah, you're on the monthly, Nick. 801 00:29:56,843 --> 00:29:57,104 There 802 00:29:57,014 --> 00:29:57,454 yeah 803 00:29:57,104 --> 00:29:57,826 we go. 804 00:29:58,268 --> 00:29:58,959 Get in there. 805 00:29:59,456 --> 00:30:00,436 and IOS 806 00:30:01,385 --> 00:30:03,436 How do you rebuild IOS? You can't. 807 00:30:03,436 --> 00:30:05,827 That IOS is the lowest vacancy 808 00:30:06,267 --> 00:30:07,808 in our market, in my opinion. 809 00:30:08,571 --> 00:30:10,970 just because it really can't be replicated. 810 00:30:10,970 --> 00:30:14,293 It's so strange to, you know, go buy a parcel of 811 00:30:14,293 --> 00:30:16,888 land that's ten acres and only build a building on it 812 00:30:16,888 --> 00:30:19,789 that covers about fifteen or ten percent of that land. 813 00:30:19,789 --> 00:30:21,800 It just it's impossible to make work. 814 00:30:21,800 --> 00:30:22,150 So 815 00:30:22,803 --> 00:30:25,689 replicating that stuff is a challenge if you can find it. 816 00:30:26,062 --> 00:30:27,563 there's pretty quick 817 00:30:27,964 --> 00:30:28,944 turnaround to getting that. 818 00:30:29,708 --> 00:30:30,189 Yeah. 819 00:30:30,770 --> 00:30:34,231 It's in McCall there's like a boat storage places that are 820 00:30:34,231 --> 00:30:36,124 like well, you know, we don't have a whole lot of 821 00:30:36,124 --> 00:30:38,107 boat storage places out in Orange County, 822 00:30:38,508 --> 00:30:41,627 but that's like its own version of IOS maybe that I 823 00:30:41,627 --> 00:30:43,220 feel like that's pretty popular too. 824 00:30:43,608 --> 00:30:47,147 cool. And then would ya start buying property on your own? 825 00:30:47,147 --> 00:30:50,240 Have you started doing that? I'm sure you aspire to and 826 00:30:50,240 --> 00:30:52,733 you have a board on your wall somewhere that shows all 827 00:30:52,973 --> 00:30:53,184 the 828 00:30:53,151 --> 00:30:53,468 Yeah. 829 00:30:53,184 --> 00:30:54,755 properties you're gonna buy someday. 830 00:30:55,156 --> 00:30:57,018 Where are you at in that mental journey? 831 00:30:57,801 --> 00:31:00,530 You know, my wife and I, we just bought our first 832 00:31:00,530 --> 00:31:01,010 house 833 00:31:01,489 --> 00:31:04,480 a few years ago and we're doing well on that. 834 00:31:04,480 --> 00:31:07,351 We're getting some appreciation. it's in a good market in Boise 835 00:31:07,351 --> 00:31:10,302 South East and I think we're catching some synergy from, you 836 00:31:10,302 --> 00:31:12,524 know, the micron wealth that's being created and 837 00:31:13,068 --> 00:31:13,599 Nice. 838 00:31:13,624 --> 00:31:16,414 the incomes that are going up over there and their stock 839 00:31:16,414 --> 00:31:17,625 price that's going up over there. 840 00:31:17,625 --> 00:31:19,236 I think we're catching some synergy there. 841 00:31:19,990 --> 00:31:22,381 so and we have a six week old, seven week old 842 00:31:22,381 --> 00:31:24,052 now daughter now, I'm a new dad and 843 00:31:24,565 --> 00:31:25,506 Alright, my focus 844 00:31:25,231 --> 00:31:26,699 Congratulations, that's 845 00:31:26,427 --> 00:31:27,007 Thanks. 846 00:31:26,699 --> 00:31:27,332 a big deal. 847 00:31:27,708 --> 00:31:30,162 Yeah, my focus is just kind of you know, taking care 848 00:31:30,162 --> 00:31:31,918 of them and taking care of my clients. 849 00:31:31,918 --> 00:31:34,594 But yeah, I don't own any commercial real estate yet, but 850 00:31:34,669 --> 00:31:38,487 I would predict that it's probably in my retirement plan someday 851 00:31:38,487 --> 00:31:41,289 to, you know, be a landlord, but not quite yet. 852 00:31:42,017 --> 00:31:45,438 Yeah. I when I got married and before we had our 853 00:31:45,438 --> 00:31:47,549 first kid we bought a three unit apartment. 854 00:31:47,549 --> 00:31:48,579 We moved in there 855 00:31:49,099 --> 00:31:52,074 and then cleaned the other two units up and we thought 856 00:31:52,074 --> 00:31:54,385 we'd never sell it. We lived there for a few years 857 00:31:54,385 --> 00:31:56,306 until we had our second kid and it was like we 858 00:31:56,306 --> 00:31:58,037 need a bigger place, we're gonna have to move. 859 00:31:58,205 --> 00:31:58,596 Yeah. 860 00:31:58,717 --> 00:32:01,793 And we sold it, we bought an industrial property with it 861 00:32:02,194 --> 00:32:06,564 and I just remember after that I had purchased or actually 862 00:32:07,066 --> 00:32:10,230 in between the triplex and the industrial I'd purchased some single 863 00:32:10,230 --> 00:32:11,171 family rentals 864 00:32:11,459 --> 00:32:11,855 Nice. 865 00:32:11,791 --> 00:32:13,412 in Austin, Texas. 866 00:32:13,992 --> 00:32:18,056 And it was interesting being like a young family, young kids, 867 00:32:18,176 --> 00:32:20,817 and you're gonna sp put all our money investing into what? 868 00:32:21,541 --> 00:32:21,910 Yeah. 869 00:32:21,917 --> 00:32:24,428 And that was like maybe not a leap of faith, but 870 00:32:24,428 --> 00:32:25,709 it was something that was new. 871 00:32:25,989 --> 00:32:27,485 It was a good pile of money. 872 00:32:27,485 --> 00:32:31,411 It could have gone towards your five twenty nine plan or, 873 00:32:31,411 --> 00:32:33,907 you know, just be a safety net, be cash in the 874 00:32:33,907 --> 00:32:34,367 bank 875 00:32:34,928 --> 00:32:35,228 and 876 00:32:35,962 --> 00:32:38,283 That was one of our first starts that like we're so 877 00:32:38,283 --> 00:32:40,644 thankful that we did. And then we turned it into a 878 00:32:40,644 --> 00:32:43,145 second one and a third one and then built that and 879 00:32:43,145 --> 00:32:44,466 turned it into something bigger. 880 00:32:45,186 --> 00:32:45,566 And 881 00:32:45,987 --> 00:32:47,908 what's super fun is you can invest with people in your 882 00:32:47,908 --> 00:32:50,849 office and then you can invest as like a LP in 883 00:32:50,849 --> 00:32:52,540 other people's funds. So you have 884 00:32:52,512 --> 00:32:52,815 That's 885 00:32:52,540 --> 00:32:52,910 a million 886 00:32:52,815 --> 00:32:53,139 right. 887 00:32:52,910 --> 00:32:54,150 different ways that you could do it. 888 00:32:54,150 --> 00:32:56,961 But I would imagine buying property in a market like this 889 00:32:56,961 --> 00:32:59,413 where things are growing and there's a lot of growth potential, 890 00:32:59,833 --> 00:33:02,257 that's exciting place to live and to put some of your 891 00:33:02,257 --> 00:33:02,507 money. 892 00:33:02,863 --> 00:33:05,515 Yeah, I'd say right now I definitely don't have interest in 893 00:33:05,515 --> 00:33:08,788 buying myself another job, which was is kind of the situation 894 00:33:08,788 --> 00:33:11,450 I see sometimes with being a landlord is buying yourself another 895 00:33:11,450 --> 00:33:14,553 job and my time needs to either be going to taking 896 00:33:14,553 --> 00:33:18,266 care of my clients, drumming up opportunities in my business, or 897 00:33:18,266 --> 00:33:20,655 taking care of, you know, my wife and daughter. 898 00:33:20,915 --> 00:33:23,819 But like you said, there's those opportunities to have, you know, 899 00:33:23,819 --> 00:33:26,370 great clients who, you know, will let you invest with them 900 00:33:26,370 --> 00:33:27,721 and you don't really have to think about it, 901 00:33:28,201 --> 00:33:29,722 which sounds pretty attractive. 902 00:33:30,392 --> 00:33:33,094 Yeah, that's not too bad. They get a lot of the 903 00:33:33,094 --> 00:33:34,916 upside for doing the work though. 904 00:33:34,996 --> 00:33:38,289 I think that's where everybody is like, hmm, that's a good 905 00:33:38,289 --> 00:33:38,488 and 906 00:33:38,441 --> 00:33:38,935 Yeah. 907 00:33:38,488 --> 00:33:38,999 bad. 908 00:33:39,421 --> 00:33:41,043 super. Well, I feel 909 00:33:41,546 --> 00:33:43,461 blessed to have had a moment to spend with ya. 910 00:33:43,461 --> 00:33:45,800 I feel like that was a pretty good primer on Nick 911 00:33:45,800 --> 00:33:47,931 and Boise and what's going on over there. 912 00:33:48,352 --> 00:33:50,854 Is there anything you'd leave us with for people that are 913 00:33:50,854 --> 00:33:53,877 in your shoes in other offices that might be listening that 914 00:33:53,877 --> 00:33:55,078 are looking for some 915 00:33:55,703 --> 00:33:57,816 A pump up jam or some words of wisdom? 916 00:33:58,534 --> 00:33:59,835 let's see. Well 917 00:34:01,036 --> 00:34:03,939 I guess there's business out there to be made, so it's 918 00:34:03,939 --> 00:34:06,260 yours to go take is kind of what I think about 919 00:34:06,260 --> 00:34:08,264 every day. So if you have 920 00:34:08,725 --> 00:34:12,902 I guess your goals without a plan, then our coach used 921 00:34:12,902 --> 00:34:14,170 to say, That's just a dream. 922 00:34:14,490 --> 00:34:16,412 You gotta have a plan and you gotta stick to it. 923 00:34:16,412 --> 00:34:19,753 Doing your you and executing that plan every day and not 924 00:34:19,753 --> 00:34:21,985 necessarily thinking too hard about those goals will get you there. 925 00:34:21,985 --> 00:34:24,747 So whether it's you know, being an entrepreneur or 926 00:34:25,232 --> 00:34:27,844 being a successful real estate broker or being, you know, 927 00:34:28,276 --> 00:34:30,478 a successful real estate investor or developer, 928 00:34:30,884 --> 00:34:33,816 I think everybody knows that sticking to your process 929 00:34:34,377 --> 00:34:36,118 and not really expecting, 930 00:34:36,678 --> 00:34:38,419 you know, instant gratification 931 00:34:39,071 --> 00:34:41,709 is what will get you places, especially in this industry when 932 00:34:41,709 --> 00:34:43,674 it's such a long sales cycle. 933 00:34:43,674 --> 00:34:46,235 I mean, this is not an industry where, you know, we're 934 00:34:46,235 --> 00:34:46,716 selling 935 00:34:47,666 --> 00:34:50,597 you know, doormats and you get someone who's gonna close right 936 00:34:50,597 --> 00:34:52,899 on the spot, you catch them like, Yeah, I actually needed 937 00:34:52,899 --> 00:34:54,390 a new doormat in here. Whereas 938 00:34:55,170 --> 00:34:58,172 Our sales cycle can take, you know, one, two, five, ten 939 00:34:58,172 --> 00:35:01,480 years before some you know, a seed you plant turns into, 940 00:35:01,700 --> 00:35:02,875 you know, some fruit and it's 941 00:35:03,351 --> 00:35:05,202 a client you can help out with or a deal you 942 00:35:05,202 --> 00:35:06,192 can make some money on. 943 00:35:06,716 --> 00:35:08,886 so that long game is paid dividends. 944 00:35:09,985 --> 00:35:11,346 I love it, that's great advice. 945 00:35:11,406 --> 00:35:11,626 And 946 00:35:11,588 --> 00:35:11,988 Yeah. 947 00:35:11,626 --> 00:35:13,698 I love that when I asked you what your day looks 948 00:35:13,698 --> 00:35:18,373 like, you had sports experience, a coaching experience, you knew your 949 00:35:18,373 --> 00:35:20,525 four food groups, and you're like, if I just do these 950 00:35:20,525 --> 00:35:22,496 four things, I know what they are, I know they need 951 00:35:22,496 --> 00:35:24,708 to get done, I can rely on them, 952 00:35:25,228 --> 00:35:27,403 and that keeps you from getting distracted. 953 00:35:27,623 --> 00:35:30,485 That was a great way that you started that like helps 954 00:35:30,485 --> 00:35:31,095 embody that. 955 00:35:31,656 --> 00:35:32,556 Yeah, absolutely. 956 00:35:33,585 --> 00:35:35,770 Well cool, thank you, Nick. I appreciate you spending time. 957 00:35:35,770 --> 00:35:38,148 It's good to get to know you and I'm sure we'll 958 00:35:38,148 --> 00:35:41,432 have some more inbound business if people are looking in Boise and 959 00:35:41,432 --> 00:35:43,367 know that you know what's going on over there. 960 00:35:43,926 --> 00:35:46,108 Yeah, it'd be great to do some business together and even 961 00:35:46,108 --> 00:35:49,553 just hang out as well. I'll be down visiting Southern California 962 00:35:49,553 --> 00:35:51,364 probably this holiday season, so 963 00:35:51,837 --> 00:35:54,129 if I catch myself and you're in Orange County, I'll reach 964 00:35:54,129 --> 00:35:54,539 out and 965 00:35:55,159 --> 00:35:57,421 reciprocate it when you're back in Boise visiting and call. 966 00:35:57,773 --> 00:35:59,474 Look forward to it. That'd be awesome. 967 00:35:59,583 --> 00:36:00,023 Yeah. 968 00:36:01,116 --> 00:36:02,697 Right on, thank you, Nick. Have a good one. 969 00:36:02,994 --> 00:36:04,114 Thank you, Justin. See ya. 970 00:36:04,338 --> 00:36:04,938 Yep, bye-bye.