Industrial Investing (Ft. Joel Friedland)

Real Estate Marketing Dude

ResourceCheck Out Brit PropertiesReal Estate Marketing DudeThe Listing Advocate (Earn more listings!)REMD on YouTubeREMD on InstagramTranscript:So how do you attract new business? You constantly don't have to chase it. Hi, I'm Mike Webster, Real Estate Marketing Dave. And this podcast is all about building a strong personal brand. People have come to know like trust and most importantly, refer. But remember, it is not their job to remember what you do for a living. It's your job to remind them, Let's get started.00:06:09:10 - 00:06:30:05UnknownWhat's up? Ladies and gentlemen, welcome. Another episode of the Marketing Dude podcast. Folks, if you've been following last few weeks, the name of the game right now is thinking outside the box and doing things a little bit differently and opening your eyes to new things. There's lawsuits, there's all kinds of shit going on in the real estate industry, and whenever there's turmoil like this, there's also a lot of opportunity.00:06:30:05 - 00:06:45:19UnknownBut you have to be able to see it and take advantage of it because it's during the shifts that the people from nowhere make big names from themselves, and the ones who are big names end up drowning. And I like to bring a lot of different perspectives onto the show. So I don't know. This guy is from Chicago.00:06:45:20 - 00:07:06:18UnknownThis is two Chicago people in a row. So you're welcome. There's a reason why we're fucking awesome. It's because we work hard. Unlike the people in California. No offense taken. No, we're there. We're going to go out and introduce our guests today. We're going to be talking about industrial real estate, industrial investing. It's much different than what we've typically talked about.00:07:06:18 - 00:07:23:15UnknownDon't think we've ever had this on the show. So I'm excited to see where the conversation takes us today. So without further ado, let's go out and introduce our guests. Mr. Joel, Fred Friedman. FRIEDMAN How do I want to say it? Friedland. Friedland okay, I'm all right. Sorry. I did see the land at the end. Well, how are you doing it?00:07:23:15 - 00:07:43:16UnknownSay hello and now tell us a little bit about yourself. Sure. So I live in Chicago. I grew up in a suburb of Chicago called Highland Park. And when I was 22 years old, I graduated from the University of Michigan, by the way, two years there and before that, two years at San Diego State. So I love San Diego, where you live.00:07:43:18 - 00:08:11:06UnknownCongratulations on your championship. Thank you. Thank you. Big deal. Yeah. Yeah, it was awesome. So right after graduating, I wanted to get into real estate and I thought, I'm going to get into residential real estate because that's what I do. And a friend of mine introduced me to a family that owned a business called Podolski Podolski Family, and they owned 84 industrial buildings and we're looking for a leasing agent.00:08:11:08 - 00:08:39:13UnknownSo and a property manager. So I interviewed them on a Thursday and I started on Friday. And because I was, I think, a pretty good interviewer. Interviewee they hired me right away and said in 1981 interest rates were 17%. They had 84 buildings, ten of them were vacant, and they wanted me to figure out how to do the lease up of their vacant industrial buildings.00:08:39:13 - 00:09:08:21UnknownFirst of all, you have to understand what an industrial building is. An industrial building is is usually in the way they have industrial parks in every city and every town has them. In Chicago, there were 16,000 industrial buildings, but most people never even heard of it. An industrial is where warehousing takes place and distribution. So for today, the famous industrial tenant is Amazon.00:09:08:23 - 00:09:47:01UnknownAnd but every store has a warehouse. Every chain, every restaurant chain has a warehouse. And then there's manufacturing where every product if you look around in the background here at this place,