Joe Killinger is a seasoned real estate professional with over 30 years of experience spanning every facet of the industry. As an agent, investor, syndicator, and founder, he has been directly involved in the sale and marketing of more than 6,500 assets, totaling over $950 million nationwide. A true industry innovator, Joe continues to invest his time and capital into real estate brands, helping them lead through the power of content, community, and forward-thinking business strategy.
Here’s some of the topics we covered:
- Rod’s Life-Changing Stem Cell Experience
- Raising $5M For Triple Net Real Estate Deals
- The Story Behind Buying an Actual Chase Bank
- Inside Rod’s Latest Senior Housing Power Play
- The Must-Have Amenities in Senior Housing
- The Key Differences Between Multifamily and Senior Housing
- How Joe’s Revolutionizing the Way Brokers Run Their Business
- Joe Bezos, AI, and the Wild Future of Computers in Space
To find out more about partnering or investing in a multifamily deal: Text Partner to 72345 or email Partner@RodKhleif.com
Full Transcript Below
01:20:08:13 – 01:20:37:06
Rod
Welcome to another edition of Lifetime Cash Flow to Real estate investing. I’m Rod Khleif, and I’m thrilled you’re here. And I’ve got my friend Joe Killinger on the show again today, and, he’s, Oh, gosh. He’s, a real estate brokerage owner. He’s an investor syndicator. He’s he’s got multiple companies. He’s marketed, over $66,500 to 6500 to 6500 properties.
01:20:37:06 – 01:20:47:13
Rod
Let’s get it right. Right. And, he’s done transactions of just, just under $1 billion. So we’re going to have a wide ranging conversation. I’m very much looking forward to it. Good to see you, bro.
01:20:47:16 – 01:20:50:18
Joe
Hey, rod, thank you for having me back on. Is really good to see you.
01:20:50:20 – 01:20:51:27
Rod
Yeah. Thank you, my friend.
01:20:51:27 – 01:20:54:00
Joe
So how do you stay tuned all the time.
01:20:54:03 – 01:21:12:07
Rod
Yeah. Right. Yeah. Well, I, Yeah, yeah. Good question. Good. Really good question. I was just in Tijuana, Mexico last week getting stem cell shots in my knees. And then prior to that, prior to that, I was on a cruise. So it was the cruise that got me the tan, but, Yeah, but, No, I’m crazy.
01:21:12:07 – 01:21:33:06
Rod
Crazy schedule. Now I’m going to San Antonio. Tomorrow for a couple of assets I’ve got there, and then I’ve got my warrior training event, this weekend in Phoenix. So now it’s kind of like a get together for my warriors. Some of my students, a few hundred of my students. So, yeah, crazy, crazy few weeks. But, next week I start to slow down, thank God, but.
01:21:33:13 – 01:21:40:23
Joe
Well, so I do get off. We’ll do it offline. And about the stem cell, because I’ve been thinking about that. I want to hear how that’s working for you. I don’t well.
01:21:40:27 – 01:22:09:22
Rod
Actually, I actually would like to talk about it here publicly. In fact, I’m thinking I’m going to see if I can get the owner of the institute down there. It’s the one Joe Rogan talks about. It’s called CPI Institute. But, I got to tell you guys, if you’re listening, you know, if you have an issue with your back, with your vertebrae, with your elbow, your wrist, your shoulder, you know, even other parts of your body, your knees get look into platelet rich plasma PRP or look into stem cells.
01:22:09:22 – 01:22:25:08
Rod
Now, I’ve done both. I did PRP in my shoulders because I tore both my rotator cuff and I, you know, I do flies. And I was doing, you know, 80 pounds in each arm and I couldn’t do 5 pounds in each arm. But I had the PRP, I had to go to Denver for this. But but, it was absolutely effective.
01:22:25:08 – 01:22:42:09
Rod
It took me about six months to recover. It was fantastic. And then, you know, I had, I, I talked about this on my Instagram. I was calling it the Butt Capades because I had this horrible pain in my glute and it was my performance, but it was because I have a pinched nerve. And I went to two emergency rooms.
01:22:42:15 – 01:22:59:08
Rod
But then I went to a local guy here that does PRP platelet rich plasma, and he fixed it in like three days. The shots into my spine. But yeah, last week I was in Tijuana getting stem cells in my knees. The PRP didn’t wasn’t enough for my knees, but the stem cells have been fantastic. So this was a follow up.
01:22:59:08 – 01:23:18:19
Rod
I did it first time six months ago. Listen, guys, if you go to a surgeon, they’re going to recommend you operate. You will regret it, I promise you. You know, these knee replacements are so unnecessary. Fuzing. Your spine is so unnecessary. You know, this stuff’s not cheap. Unfortunately, now that now the PRP is not bad, you can do it for 3 or 4 grand stem cells.
01:23:18:19 – 01:23:40:07
Rod
If you do it right and you go out of the country, it can be as much as 2025 grand. But my God, it’s worth it. I mean, to not have surgery and get fixed. So yeah, thank you for allowing me to take up your interview to talk about that. But I wanted to get this messaging out there. And if you guys need to be referred to anybody, just DM me on social, and I’ll.
01:23:40:07 – 01:23:54:05
Rod
I’ll hook you up. Okay. But, I’m such a huge advocate for this. I’m even talk to the local guy that did the PRP. Literally. I messaged his team today and I said, hey, I’d love to have him on the podcast to talk about this because it’s just groundbreaking stuff.
01:23:54:05 – 01:24:03:15
Joe
So anyway, I will be tuning in because, you know, when you have a you can’t focus on, you know, what do you want? You just want to get over the pain. You can’t focus on anything else.
01:24:03:18 – 01:24:21:18
Rod
I couldn’t walk, I couldn’t walk 30ft without excruciating pain in my back. This was just two months ago, and and I went and did this PRP. I was like, well, and like, within two days, I was healed as, like a three days done. This is incredible. Absolutely incredible. And it was, you know, it was what do they call it?
01:24:21:20 – 01:24:43:11
Rod
Active x ray guided. So there was he’s wearing a lead suit. He’s looking using an x ray machine to so that he shoots me right in this right areas of the spine. They take the blood out in the morning, they spin it and pull out the platelet rich plasma, and then they’re inject it in the afternoon. And now I’ve had it done now to my shoulders and my back to great success both times.
01:24:43:11 – 01:24:52:15
Rod
So yeah. And I mean now I can lift, you know, 70, 80 pounds in each arm again, since my rotator cups are healed. So. Yeah. Anyway, love it. Does it.
01:24:52:17 – 01:24:53:16
Joe
Cover any that.
01:24:53:18 – 01:25:17:01
Rod
No, no, unfortunately, it’s so stupid. It’s such a frickin travesty in this country. Hopefully, you know, Kennedy can fix some of this because surgery is a hell of a lot more expensive than this. And and so, you know, it’s just it’s ridiculous. And, you know, the the FDA and the insurance, lobby is just so strong, you know, but it just doesn’t make any sense because it’s actually cheaper and it’s effective.
01:25:17:01 – 01:25:29:03
Rod
But anyway, so back to you, brother. I don’t remember what we talked about. Last time you were on. You’ll have to forgive me. You’ve been on a couple of times. Yeah. What? What are you up to these days?
01:25:29:06 – 01:25:47:09
Joe
We’re doing a few things right. It’s. You know, I’m still doing the inverse. Actually, we’re doing a syndication right now, but, we’re doing it for single tenant lease deals, and, you know, it’s going to be a small syndication to raise about 5 million. I think we’re pretty much going to have friends and families. What we’ll do, and our agents, we try and do.
01:25:47:16 – 01:26:06:05
Joe
So I run, I’m a partner in commercial brokers International. I think every commercial real or every agent should be an investor. Oh, you’re not investing. You know, you should own real estate. Carmen lease. But I’m trying to create a situation kind of like a 401 K for our agents. We’re doing the syndication. They’re going to be able to invest in the.
01:26:06:05 – 01:26:27:01
Joe
They bring somebody in, and I’ll give them a sign, a fee, and they’ll be able to invest that into their own. And so doing that right now really had a focus on, you can see the website behind me, my YouTube channel, really putting a big focus into training commercial real estate agents because I’m finding, you know, we all get into an industry and it, you know, it’s hard.
01:26:27:04 – 01:26:48:26
Joe
And I think, you know, you deal with brokers every day. It’s really hard to get the thing going in the business going. And so I really put a focus into and I wrote a book, a booklet. It’s all free. Everything on my website is free. The booklet is, your first 90 days in commercial real estate, really trying to help young people get into the industry, figure out the business.
01:26:48:28 – 01:27:04:03
Joe
But doing a lot of that and, you know, doing a lot of mentoring with it and then also doing some investing always out there looking for more deals. I think we’re going to start seeing more activity. Over the next few months. Actually, we’re seeing more activity in the brokerage here.
01:27:04:06 – 01:27:15:10
Rod
You know, that’s that’s great. Now, now, now, let me ask you this. Yeah. Let me ask you this. What, what? So so what was it that you’ve got you’re doing a deal on right now that you’re raising 5 million? What did you say it was?
01:27:15:12 – 01:27:16:22
Joe
Single tenant at least. Deals.
01:27:16:28 – 01:27:18:22
Rod
Okay, so, so, like triple net.
01:27:18:25 – 01:27:21:02
Joe
Yep, yep. Triple net deals. Yeah.
01:27:21:03 – 01:27:24:15
Rod
Like like like like Walgreens. Like a Walgreens or what.
01:27:24:15 – 01:27:43:20
Joe
Yeah. Fast food Walgreens. Okay, so my business partner, Jorge Pino, he’s got a, he’s been doing single, single style deals for years. He’s done it in 39 states. And, you know, the way it works in his brokerage industry is a lot of these guys don’t put this on the market. They’ll call each other the email like, hey, I’m putting this on the market.
01:27:43:20 – 01:28:04:17
Joe
I want to talk to you about it because I know you’re going to close on the deal. You know, these are all know that each one of them is going to close. So we’re out there, going to start buying those. They’re going to be very stabilized. And the first indications we’ll probably do another syndication where, it’ll be a little bit we’ll go for shorter term leases on the next one, meaning that, you know, there’s three, five years left.
01:28:04:17 – 01:28:16:20
Joe
We’ll go in, buy the property. We’ll go in and talk to the tenants. Hey, listen, let’s read, negotiate your lease. Let’s really talk about how we’re going to remodel the building, and then we’ll increase revenue that way. So.
01:28:16:23 – 01:28:36:13
Rod
Yeah, because, you know, you don’t. It’s not like a value add deal like we do in the multifamily because the leases are very long term. They’re triple net. Well, how do you realize the profit. Is it more of just a yield play. Where where you just getting a fairly modest return on your investment? But it’s a secure return.
01:28:36:15 – 01:28:54:08
Joe
Yeah. Yeah, yeah. We look for places that there’s going to be a little bit of appreciation play to like, you know we bought one in that Allen, Texas. And it’s one of the fastest growing cities in the nation. Okay. We’re in and we’re getting calls every week. Somebody wants to buy. We bought a jack. It’s really cool.
01:28:54:08 – 01:29:12:08
Joe
Jack in the box has a fireplace in it, which I’ve never, ever seen a jack in fireplace. So during now it’s in Texas. So obviously during the winter. So too cold. Summer’s too hot, but spring and fall is pretty nice to sit out there and have your food in front of a fireplace. And so. But that one’s appreciation is going up nicely for me in Texas.
01:29:12:10 – 01:29:13:22
Joe
And then another one we will.
01:29:13:24 – 01:29:22:01
Rod
Hold on, hold on, hold on before you move from that. So. But but the revenue doesn’t go up. You’re just looking at the value of the land appreciating. Is that correct?
01:29:22:03 – 01:29:24:17
Joe
Market goes up. The lease rate goes up every year.
01:29:24:19 – 01:29:31:21
Rod
Oh it does. So it’s it’s got modest rent increases. Yeah okay okay. Fair enough. Okay. And what was the next one you were going to talk about then?
01:29:31:21 – 01:29:50:05
Joe
We do. We bought a chase Bank. But now here’s the kicker. This Chase Bank was going to go dark and we do that. So we bought it and there were seven years left on the lease. They were closing down. It’s it’s actually underutilized. It’s very big property, a little over an acre. So we’re going to be able to take that and go back out to the marketplace when the lease gets there.
01:29:50:05 – 01:30:06:02
Joe
And we’ll get to where there’s just a few years left, and then we’ll bring in a new tenant, and then we’ll completely do. We’ve been talking to a few clients already. I was a little premature, but we’ll regenerate it. And that’s going to drive the value up because do you go right. Right now is really changing a lot of people coming into the marketplace.
01:30:06:09 – 01:30:11:24
Rod
Oh okay. Okay. Sorry to interrupt. Do you go to Icsi because.
01:30:11:27 – 01:30:14:15
Joe
Our agents do our own, our agents do so yeah.
01:30:14:15 – 01:30:33:21
Rod
Yeah, yeah. So that’s the International Conference of Shopping Centers, guys. I’ve gone a couple of times very intimidating. The thousands and thousands of people there. You know, all of the retailers are there, all the big brokers. They are the big developers. And this is where they get together and they decide, you know, hey, a Publix is going to go in here or Walmart is going to go in here, and so on and so forth.
01:30:33:21 – 01:30:42:18
Rod
And it’s it’s it’s pretty, pretty impressive. But, okay. So, so, do you is retail your primary thing.
01:30:42:22 – 01:30:47:00
Joe
Right now for investing? Yeah. That’s what really what we’re focused on right now.
01:30:47:02 – 01:30:48:07
Rod
But I’m, I’m really.
01:30:48:08 – 01:30:51:10
Joe
Commercial brokerage is full service. Yeah, yeah.
01:30:51:12 – 01:31:14:15
Rod
I’m really big on senior housing at this point, brother. I closed I closed on my first Alf, a few weeks ago. We’ve got another one. We’re doing y on today. That looks like a screamin deal in California. And, you know, we’re buying these distressed, alphas. They got killed by Covid and the numbers are fantastic. They’re even better than multifamily and so considerably better, actually.
01:31:14:18 – 01:31:15:03
Rod
And so.
01:31:15:03 – 01:31:16:03
Joe
Government funding for.
01:31:16:03 – 01:31:39:24
Rod
It to, Well, no, you don’t you don’t want that, you know, that’s that’s very low. In most states, some states have decent Medicare, Medicaid or its Medicare payment. But but not not, not, the states that we’re in right now. So it’s private pay, but, you know, and the key is the operator, we’ve got a fantastic operator that, that that we were working with.
01:31:39:27 – 01:31:56:21
Rod
You know, because, you know, you want to make sure grandma was taken care of and, and, you know, you hear these horror stories where dementia patients wander off the property and die in the cold or whatever, and, you know, and, you know, abuse by, by these low paid employees. And, you know, I was just super impressed with this operator.
01:31:56:22 – 01:32:18:27
Rod
They’ve got incredible culture where they validate and praise and, and educate their employees and just keep them enthused and engaged. And it was very impressive because I’ve run big companies, I’ve owned a couple of very large companies that I built and, and culture is such an important thing. And, but just, just these guys seem, I think, you know, we’re going do really well with these guys, and we’re going to just do the real estate piece.
01:32:18:27 – 01:32:25:11
Rod
We’re not doing the, you know, the operational piece. I don’t want to be the one, you know, given the meds and, you know, and and doing this.
01:32:25:13 – 01:32:26:29
Joe
One for you. One for me.
01:32:26:29 – 01:32:27:17
Rod
Yeah. Yeah.
01:32:27:23 – 01:32:29:27
Joe
No good days in there.
01:32:29:29 – 01:32:49:16
Rod
Right. Yeah. No, but, but, but no, I’m very excited about that asset class. You know, those 10,000 people a day turning 65 in this country. And, you know, like I said, the returns look great. I mean, it’s a tidal wave of of the elderly. I mean, it’s like, you know, if if you look at a graph, it looks if you look at a graph, it looks like a rat going through a snake.
01:32:49:16 – 01:33:00:28
Rod
It’s the baby boomers. It’s just a huge demographic. The impact that everything from diapers to, you know, the created suburbia to you name it. But, but anyway, so that’s something I’m interested in. But,
01:33:01:01 – 01:33:04:24
Joe
What’s the sweet spot for you guys in that? Well, you guys, because the.
01:33:04:24 – 01:33:26:16
Rod
Institute right now. Yeah. We can’t do the real big ones yet. Until until we’ve done some more of this. The one we’re looking at now is 15 million. The raises about four. So it’s not a huge raise. And, but the returns, the returns are fantastic. You know, 20% return or 20, 20 or 25%, I can’t remember.
01:33:26:16 – 01:33:50:13
Rod
I just had the conversation this morning, but but, you know, the returns look fantastic. Conservatively. Fantastic. And and so, you know. Yeah. So very excited about that. We went to the, Nick conference. Don’t ask me what it stands for, but it’s all senior housing. There were 4000 senior housing people there. Yeah, it was this was in Austin, Texas, about a month ago.
01:33:50:15 – 01:34:12:20
Rod
And, you know, we got a ton of deals there because, you know, the big players on certain in distressed deals, they want they want, they want performing 90% occupied, you know, A-Class stuff. And so, you know, us going for the value add in that, you know, in that, asset class is just very exciting. So anyway, I wanted to mention it just because I’m excited about it.
01:34:12:20 – 01:34:12:29
Rod
Well, I’m.
01:34:13:00 – 01:34:18:23
Joe
Very interested in it because there was a big report out this morning how it’s just the place to be investing. And you’re on a course.
01:34:18:27 – 01:34:38:10
Rod
Yeah. I mean, not like I turned 65 in January and you know, and I’m, I’m on that tip edge. I mean, just think in ten years it’s 75. Now a lot of those people at that age need assisted living. And there’s a huge shortage of beds, huge shortage. So you know, and and the cost to build new is, is is very expensive.
01:34:38:16 – 01:34:48:23
Rod
So you know these existing facilities that you know, that had a challenge, you know, are just very interesting. So, yeah.
01:34:48:25 – 01:35:01:04
Joe
What kind of amenities do you guys look at? You know, like, well, pairs are in one and they are we’re in one. And they have hairstylists. They have they have all this stuff that, you know, they never had to leave. I thought that was absolutely amazing.
01:35:01:06 – 01:35:23:23
Rod
Yeah. Some of them are incredible. I mean, theater rooms and things like that. Yeah. Most of them will have a hair salon of some sort because, you know, these old women love to have their hair all hoofed up and all that. But, you know, I mean, you’ve, you see all sorts of things, you know, little cutting ranges, you know, exercise rooms, yoga rooms, you know, pools, things like that.
01:35:23:23 – 01:35:45:20
Rod
The one we just bought in Pittsburgh really isn’t that much of anything. But the demographics there are fantastic. And I would not normally mind Pittsburgh, not nothing against Pittsburgh, but just not a market. I would, I would target, but, from a senior housing standpoint, it’s the the demand is is fantastic. And so, you know, but, you know, some of, you know, some of them, some of them are really incredible.
01:35:45:22 – 01:35:46:03
Rod
You know.
01:35:46:05 – 01:36:04:09
Joe
You know, it’s amazing how broad is the. I’m from a central Nebraska, and my parents lived in a town called Saint Paul, Braska and it was 2200 population. There was 2 or 3 retirement facilities, that little town, and they were full with a waiting list.
01:36:04:11 – 01:36:05:07
Rod
01:36:05:09 – 01:36:08:06
Joe
Just largely farming communities. People moving off the farm.
01:36:08:08 – 01:36:25:03
Rod
You know. And here’s the thing. You know I used to think that, you know, you get old, you get cold and you go south. But the reality is they don’t want to move away from their kids, you know. And like like my mom stayed in Denver. Really. Parker. But near Denver where we’re, you know, the bulk of the family was and and she loved the war.
01:36:25:03 – 01:36:43:07
Rod
She I bought her a house down here and in Florida, when she was mobile. And, they sold it when she had to go into assisted living. I sold it for when she had to go on assisted living. But but, you know, I thought she’d want to come back down here to a facility, and she’s like, no, she wants to be up there with the bulk of the grandkids are and all that stuff.
01:36:43:07 – 01:36:44:29
Rod
So, you know.
01:36:45:01 – 01:36:45:24
Joe
You rod.
01:36:45:26 – 01:37:03:12
Rod
You. No, no, no, I went up there a lot, but but you know the point. The point is, you know, it’s easy for me to travel, but, but the point is, you know, you would think that some of these northern cities wouldn’t do well. They do really well because people just don’t move, they don’t leave. And, and and, you know, the numbers are just staggering.
01:37:03:12 – 01:37:19:22
Rod
I mean, literally. And I’m worried about it candidly. I mean, I think elderly people could be literally living on the street at some point if you know, these if these beds aren’t, you know, a lot of these facility, I mean, it’s like affordable housing, you know, this huge affordable housing crisis. It’s going to be the same thing for seniors.
01:37:19:24 – 01:37:30:25
Rod
And so, you know, the demand is definitely that’s what I’m excited about because, you know, the the it’s got massive headwinds. I mean, tailwinds. So,
01:37:30:28 – 01:37:36:06
Joe
Yeah, look at how much construction is going on. I can imagine the new stuff has got to be big, right?
01:37:36:10 – 01:37:57:04
Rod
Actually, actually, I will tell you. I’ll tell you it’s not as much as you would think because because of the interest rates and, the cost of services and, and, and and, but it’s going to pick up. It’s definitely going to pick up. It’s but see the it’s just like multifamily you build these and they’re pretty much a class.
01:37:57:04 – 01:38:18:29
Rod
It’s the same thing as senior housing because you you can’t you can’t, recoup your investment if you go for the affordable route unless, you know, unless there’s government subsidies or things like that, which it’s likely going to happen. But, you know, I mean, we do a comparison, we did a comparison. We raise the money for this other deal of what we’re paying for this one and what it would cost to build new.
01:38:19:03 – 01:38:40:25
Rod
And it was staggeringly different. Okay. And so, you know, just to show people there’s a big barrier to entry for that price point, you know, for that price point that we’re at. And so, yeah. No, it’s it’s it’s very interesting. I mean, is a lot of liability. This is why the operator is critical. And, and there are people that don’t do the math right.
01:38:40:25 – 01:39:08:07
Rod
When they underwrite these things. They don’t they you know, you’ve you’ve really got to it’s different than multifamily. There’s a lot of factors involved. You know, the payroll is very high. The expense ratio is much higher than you would then. You’d have of course, in multifamily because you’ve got nursing. You’ve got, you know, caregivers, you’ve got you’ve got to have, an activities director typically in every, in every one of these, you’ve got to have, you know, food and beverage director, you know, and so the payroll position is the biggest, biggest.
01:39:08:07 – 01:39:32:09
Rod
Yeah. Dietitian this is the biggest piece. And, and you know, and, and and the meds have to be provided, you know all that. So, so there’s a lot to it. And it’s interesting. I actually got my, assisted living, administrator’s license here in Florida back in 2007 because I was going to get into it. Then I got the domain name affordable senior housing.com, and I was going to go I had hired a couple of people and I was ready to go.
01:39:32:09 – 01:39:42:09
Rod
And then oh eight happened and my world fell apart. And, you know, I kind of scrapped everything, but I but I was very interested back then. So I’m kind of going full circle with it here. Joe.
01:39:42:09 – 01:39:46:21
Joe
Said you would all in early on, Yeah, yeah.
01:39:46:23 – 01:40:03:17
Rod
Well, I, I like the elderly, you know, and and, just like, I like kids. And so, you know, to me, it’s kind of a, you know, and I think you have to, to get into the business. And if you’re listening and you’re thinking about, hey, man, that sounds good. The numbers sound good. If you don’t love the elderly, please don’t.
01:40:03:17 – 01:40:18:10
Rod
Because, you know, they deserve respect and care and and and all of that. They’ve earned it. And so, you know, just be cognizant of that, you want to focus on their well-being more than the profit. But,
01:40:18:12 – 01:40:32:04
Joe
But, yeah, my parents were both in one. And I tell you what, it was, I don’t know how the the staff, I mean, there’s so many skilled positions, the it’s expensive to run, but they were amazing.
01:40:32:06 – 01:40:53:17
Rod
Yeah. And they deal with anger. Anger a lot. They do. Especially issues like my mom was not a happy person towards the end and she she was not happy to be around. And these people are so patient and loving and, you know, and and so yeah, I, I hear you and there’s a lot of that and they’re, you know, they’re confused and and and frustrated.
01:40:53:19 – 01:41:23:14
Rod
Yeah. Yeah. They’re very frustrated that they, they, they, they’re not in their, in their home environment. It’s very hard to get them to go there very often as well. It was hard for my mom. But but, yeah. No, it’s, we got going to this conference. They did. They played this this, movie about, you know, the the dementia, trajectory and, and and and how to deal with it and, and support people that are going through that.
01:41:23:14 – 01:41:45:11
Rod
And, and it’s it was really sobering, you know, sad. Very sad to see like Bruce Willis. Right. You know, see, it’s completely gone at this point and it’s very, very sad. But anyway, you know, and so we kind of got I kind of it kind of derailed the conversation there with that. But but I mean guys I hope I hope it’s been interesting because it really is I think, an incredible opportunity moving forward.
01:41:45:13 – 01:42:00:06
Rod
And you know, if you have an interest in investing in one, you know, reach out to me, you know, or go to Creek capital.com. That’s Creek capital.com and talk to my team because we’ve got another really good one coming down the line here. And the returns just look fantastic.
01:42:00:06 – 01:42:06:02
Joe
But so I’m here you guys trying to buy it. What’s that I mean are you guys trying to buy right now.
01:42:06:02 – 01:42:26:28
Rod
I, I really want to try to buy 12 in the next 18 months. Oh yeah. Yeah, really really kick it in gear. We’re we’re working through the systematization of it all right. Now from the investor relations to the, you know, the administrative piece, to facilitate the closings, to, you know, and then and then just the communication between us and the operator, they’re playing a big, heavy role in this.
01:42:26:28 – 01:42:42:09
Rod
They’ve, they’ve they’ve done about $1 billion in full cycle deals. Just to give you an idea. I mean, these these are these are real players. They’ve they’ve full cycle guys. Means they bought them. They fixed them up. The returns are fantastic. And they’ve sold them. And they showed us their, you know, their whole portfolio of deals that they’ve done.
01:42:42:09 – 01:42:50:15
Rod
It’s very impressive as well. And and so yeah so they’re, they’re heavily involved. And they’re nationwide. So yeah, very exciting.
01:42:50:20 – 01:42:58:17
Joe
Having that kind of support. You know, I don’t care if you’re doing retirement, how you’re doing multifamily, having that team work. You’ve got to put the team together.
01:42:58:19 – 01:43:18:00
Rod
Yeah. Yeah, that’s that’s the big thing. So your big thing right now is helping helping people that want to get into commercial real estate or broker space to become a broker, an agent to sell, you know, commercial real estate. You’re focusing on that and you’re buying, these triple net, single tenant lease deals. Interesting. Okay.
01:43:18:04 – 01:43:33:00
Joe
Yeah. We got you know, I know the last time we were, I was really focused on the investing. And, you know, I’ve we have agents here now, and we got 20 some agents in our brokerage, and you know, I see them I’ve got agents that have been in the business for a year. They’ve done six deals already. Well, wow.
01:43:33:03 – 01:43:50:11
Joe
A few of them, some of them have done three. But, you know, and then you talk to some of our competitors and these agents that we didn’t plan on making money for two year, year or to two years, I’m like, well, why not? And, you know, the thing is, in these brokerages, there’s no training. That’s why we like, turn them.
01:43:50:11 – 01:44:05:14
Joe
There’s no training. So you’ll come in, let’s say you go to a big firm. They’re going to say you brought your broker there. You see Joe, you got to go under rod. He’s going to show you the ropes okay. That’s great. He’s going to he’s going to do my training. But if rod is getting. So you’re my senior.
01:44:05:14 – 01:44:28:17
Joe
I’m the junior. I’m out there cold calling, bringing you business every day. How compelled are you going to be to train me? Because I’m out there making you money, you know, so it really gets back. Where do we then? People end up running out of money and dropping out. So I put this content out. You know, on the blog that’s on my website, the booklet that’s on my website, the YouTube channel under my name.
01:44:28:19 – 01:44:33:21
Joe
It’s all geared toward really helping people really figure out how they can build a business, because.
01:44:33:26 – 01:44:44:29
Rod
How they can build that, that, that sales business and commercial real estate. That’s awesome. Yeah. So I mean, oh, I know what you’re doing. You know what I’m doing. You know, it’s it’s always great to reconnect with your brother, you know?
01:44:45:00 – 01:45:05:15
Joe
Oh, I love hearing about what you guys are doing. You know, you’re in a space that I think is just getting started to really take off. I was reading an article this morning about it, that they use data centers and data centers. It’s it’s kind of a big boys play, you know, it’s the the top guys are out there because it takes, you know, figuring out the power when they’re talking about nuclear power in some of these places.
01:45:05:15 – 01:45:26:08
Rod
Oh, let’s listen to this. I just heard Bezos talk about data centers in space. Yeah, because they have unlimited solar, uninterrupted solar. It’s cool. It’s cold. Keep it cool. Man, that’s interesting. And then they beam it down or whatever. But, he said, that’s coming. He said that’s come, you know, and then this whole A.I. thing, you know, it’s like, Holy cow.
01:45:26:16 – 01:45:46:24
Rod
You know, you hear some of this, some of these people talk about A.I. and it’s very sobering. I mean, they talk about the chance that we could be out of, you know, we could we could be gone in three years. You see these autonomous, you know, planes and, fighter planes. You see these robots, you see all this, and I’m thinking, you know, reminds me of a movie, right?
01:45:46:26 – 01:45:47:25
Rod
Yeah.
01:45:47:28 – 01:45:59:16
Joe
You know, rod, we brought in, a company. I can’t use a name. We sign a pretty good NDA on it, but. Okay. So they’re going to be human carrying drones we have all around them. Then you do have to two all the Waymo cars around.
01:45:59:16 – 01:46:06:08
Rod
Oh, yeah. Waymo the Ferrari and deliver here in Miami by these little frickin robots that go down a sidewalk.
01:46:06:08 – 01:46:22:03
Joe
Yeah. Go, go whatever it is. Well, we put in. So it should be by the time the Olympics get here in a few years, you’re going to be able to come in to, let’s say you go to LAX and you can get on your phone and say, okay, I want a car, but I want to go to the drone landing pad.
01:46:22:05 – 01:46:46:27
Joe
You’re going to be able to get in the car, go to a drone landing pad, get in a human carrying drone. And it’s now we had to work with the FAA to bring you a path. You had to go down, and it’ll take you, like to downtown LA or to Encino, and it’s going to take you a few minutes compared to sitting in hours and traffic, it’s going to be hardly about the cost of an Uber X, is where it’s sitting out right now.
01:46:47:00 – 01:46:54:18
Joe
But eventually, at the beginning, the first two years, there’s going to be pilots sitting there. They’re not actually going to be flying the drones, right. But they’re going to.
01:46:54:18 – 01:46:55:20
Rod
Be just in case.
01:46:55:22 – 01:47:03:17
Joe
Yeah, right. But after two years, you’re going to go get in a drone all by yourself, just like you do in the Waymo. In a way, you’re going to go it’s like.
01:47:03:19 – 01:47:05:15
Rod
Like the Jetsons, just like the Jetsons.
01:47:05:15 – 01:47:10:03
Joe
Back in the day. Yeah, right. Yeah, yeah I live tested it in Singapore and Brazil and.
01:47:10:08 – 01:47:31:01
Rod
Yeah, been I see it on TikTok. All I see I see the the test flights and they’ve got all these propellers on them and stuff. And who knows what AI is going to come up with as other projects, you know, projection, you know, possibilities and whatnot, because it’s already smarter than we are. But, yeah, it’s it’s it’s, it’s it’s very interesting and very sobering.
01:47:31:01 – 01:47:32:28
Rod
So it’s, you know, but,
01:47:33:01 – 01:47:34:14
Joe
Yeah. Fun to listen, brother.
01:47:34:14 – 01:47:45:23
Rod
It’s great to see you again and, keep kicking ass. And I appreciate you adding value on the commercial real estate, agent side. And, we’ll, we’ll talk again soon,
01:47:45:26 – 01:47:47:07
Joe
All right. Thank you very much.
