Are you ready to clear out your overflowing inbox? Today, I release a stream of consciousness filled with my random thoughts to free up some mental space.
As the saying goes, these are just opinions, but they are entirely my own.
Unveiling the Power of Generational Wealth
In recent times, I’ve come across numerous examples of families accumulating wealth across generations through their commercial real estate investments.
Connecting these families is a common thread – their investment in commercial real estate years ago when it was significantly more affordable.
Typically, they had a thriving business like a manufacturing company that generated surplus funds, which were then channeled into commercial real estate holdings. In some cases, they held raw land for future development.
The extent of generational wealth is truly awe-inspiring.
Embracing Trade Skills in a Changing World
Every September, when school buses start rolling and young individuals head off to college, my mind shifts towards the importance of trade skills in our economy. In my generation, a college education was seen as the ultimate achievement.
But times have changed. Nowadays, carpenters, electricians, plumbers, and handymen often begin their careers with higher salaries than those with college degrees. And if you combine the two – a college education and a trade skill – you’ve hit the jackpot!
Moreover, these trade skills provide a solid foundation for young people to start their own businesses. Now, don’t get me wrong, I’m not discouraging anyone from pursuing higher education. I simply believe that there are multiple paths to a successful and fulfilling life in today’s economy.
A Seamless Shopping Experience in the Digital Age
Recently, I found myself in need of a new iPad. Since the lockdown days of the pandemic, my iPad and iPhone have borne the weight of my entire workload. No PCs in this man’s world!
I remember the last time I bought an iPad – the process was a bit of a headache. Passwords had to be remembered, data had to be transferred, and inevitably, the new device never quite matched up to the old one.
To avoid this, I held onto my old iPad for a while. Now, my workspace resembles a scene from “Wall-E,” with various abandoned devices scattered about.
However, this latest shopping experience was different. I simply placed my old iPad next to the new one, and like magic, all the data transferred seamlessly. The new device was up and running, looking exactly like the old one. It was an incredible experience.
On my way back, I decided to stop by Warby Parker. If you’re not familiar with the brand, Warby Parker is like the Chipotle of the eyeglass world. You walk in with your prescription, browse through sample glasses, and six business days later, your custom-made glasses arrive at your doorstep like magic.
It’s hard for me to envision a future where traditional optometrists and computer stores thrive.
The Importance of Paying Attention to Detail
Recently, I found myself negotiating a lease on behalf of a client. While this is a common occurrence, this particular negotiation took on a life of its own.
Alongside ensuring that the lease covered all the essential business points, we were also asked to provide our opinion on specific lease clauses and their potential impact on future events. I consistently reminded our client that we are not attorneys and cannot offer legal advice.
Nevertheless, our client trusted our laymen’s interpretation of certain lease clauses. It’s in moments like these that I feel both valued and vulnerable. I can’t recall ever being so invested.
The deal is now complete, and our client has a brand new home. Best of luck!
Allen C. Buchanan, SIOR, is a principal with Lee & Associates Commercial Real Estate Services in Orange. You can reach him at [email protected] or 714.564.7104.
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