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JC 005: How to reposition the Sleeping Giant with Nat Mundy

April 5th, 2017 | no comments

Learn how a Rolling Stones concert in London changed Nat Mundy’s life.

The Real Estate Locker Room ShowNat is an international entrepreneur who capitalized on his childhood passion for go-carts. Nat’s business plan received a D in business school but he was undeterred in pursuit of his goal.

Nat leveraged the skills that he learned on Wall Street to build an entertainment brand that started out by repositioning the “Sleeping Giant” – a massive industrial campus that was the perfect fit for his unique vision.

Nat credits his success to leaning strong work ethic from his father and having the right team of people onboard that believed in his vision.

Favorite athlete – Wayne Gretzky, “The Great one” – NHL Hockey player

Nat recommends reading all of Richard Branson’s books.

Must read – Losing My Virginity – How I survived, Had Fun and Made Fortune Doing It

Key Points:

  • Nat draws his inspiration from courage and loyalty
  • Lead by example, be willing to mob the bathroom floor
  • Make sure everybody is healthy and happy

 Thanks again Nat for taking the time to share your story with us.

You can connect with Nat online at Grand Prix New York, www.gpny.com or http://www.spinsbowl.com

 

POST GAME REPORT: Episode Transcript

The Real Estate Locker Room Show Podcast

JC 005: How to reposition the Sleeping Giant with Nat Mundy

Announcer: Welcome to the, “Real Estate Locker Room Show” with John Carney. Did you know investing in real estate is a team sport? Join John and his team as they explore the business of real estate and athletic competition. The goal for this show is to grant you direct access to the real estate pros that are closing profitable deals and growing their businesses. On the “Real Estate Locker Room Show” we are getting in the ring with successful investors, developers, operators, and all of the industry professionals to learn what it takes to achieve on-going success. Now it’s time to kick-off and level up with new place to grow your real estate business.

 

John Carney: Hello and welcome back to the Real Estate Locker Room Show.

I’m your host, John Carney, coming at you from Cleveland Ohio. Joining me in the

Locker Room, on the line from West Chester County New York, is Nat Mundy. Nat is a

36-year-old entrepreneur and graduate of Hobart College, after a brief stint on Wall Street he decided to pivot and pursue his thesis project which is Grand Prix New York that he subsequently received a “D” on in school. But that was not a deterrent for Nat. He hit the ground running, raised the money and started build out in December 2006 and opened the doors to Grand Prix New York in February 2007. Nat grew the business by adding “Spin Bowl” in 2010 and an arcade in 2011. To grow he and his partners began acquiring bowling alleys and launched the multi-store brand “Spin Bowls” in 2015. How ya doing today Nat? We’re really interested in hearing how this entrepreneurial business turned into a real estate business so welcome to the show.

Nat Mundy: Yeah, thank you very much for having me, I appreciate it.

John Carney: No worries buddy. We’d like to start out with a little bit of

a sports related question here to kinda get the show kicked off and get the creative juices flowing. In all of the professional sports, who is your favorite athlete of all time?

Nat Mundy: I think my favorite athlete of all time, I’m going to go with The Great One, Wayne Gretzky.

John Carney: Nice, nice. Where you a hockey player growing up?

Nat Mundy : Hockey player growing up. Hockey fan my whole life. And just a guy that made a career and became untouchable. And to the point where rookies wouldn’t even touch him. And from what I can tell, decent family guy, attractive daughter, even more attractive family. And never got into any trouble, or did anything stupid, in elevators or night clubs. Ya, can’t hate him.

John Carney: No, not at all. He was a little guy. So, I mean, he had to adapt.

Nat Mundy: Right exactly. Wasn’t there when the 6ft 5in. mile 41 Saskatchewan players. So, when those guys came on the scene, he’d already been in the ice for 15 years, or something. So, he stayed and he ended up becoming “The Great One.” So why not?

John Carney: #99 folks. I had a poster of “The Great One” in his original Oilers uniform on my door when I was a kid growing up.

Nat Mundy: Awesome, great! That’s so good.

John Carney: Well,Nat you have an interesting story I’d like to jump into because you’re an entrepreneur, started a business, you started a business after a professor said it was no good, right? It was a rubbish idea and you had a little bit of a pivot, started a business and that business also became a real estate business. So, could you tell us the story. How did you get started?

Nat Mundy: Yeah. So basically I was at a “Rolling Stones” concert in Wembley Stadium, in the U.K. when I was I’d say, 18, 19 years old. And I went to an indoor go-kart track in London. And there was this very cool Honda powered go-karts, Italian chassis. And they were running in an old abandoned warehouse. I didn’t even look like a warehouse, which was like a Brooklyn New York warehouse. I though that we would have to have this in the states. I’m stupid, I’m sitting there, I’m watching corporate events do their thing there. In stead of playing golf or going to a big dinner, they were going go-karting, you know, why not? So, when I got back to the states, I had realized they had opened one in Boston, called, “F1 Boston.” I reached out to R.J. Valentine, who is a real estate insurance guy, who’s based out of Boston, owns F1 in Boston, and F1 Outdoor which are the two, first indoor-outdoor tracks that were served European inspired circuits in America. He wanted nothing to do with me so I said, “Fine.” I wrote this business plan based on the remaining places, reviewing DMV lists, looking for places where cost of rent would be low or obviously at the time couldn’t even think about buying a building to put on 125,000 sqft business into and that was the plan. And I consequently got a “D-” on it. And he told me that, I guess it wasn’t in line with the assignment as to thinking what he wanted. He wanted to talk more about franchises and he was focused more on. I still see it as a franchise and like I said, with multiple stores in the state thing it’s proven we can build something that’s high-end entertainment based, in multiple locations. But he gave me a “D” on it anyway. I was going to school for architecture and ended up getting a job on Wall Street. At the time they were hiring engineers and architects in the sales trading world. We were spreadsheet guys. Still got that whole thing but put models together. Got dragged into there for about 2 ½ – 3 years. I was doing private placement, straddling the wall to a degree. Everything from Shiriah funds to private placements, by backs of private companies, and just really didn’t like it to tell the truth. But the money was great. It was a fun career, fast paced, challenging, very transactional, I don’t think I was bad at it. I just don’t feel like I was going to love it. My father had been at Citibank for 35 years and went through a heart attack at age 60. And the bank retired him virtually 8 months, 9 months later. I then left the firm I was at. I just wanted to do my own thing and take the risk while I still could. So, I did one more private placement. We raised $6.8 million dollars on our first round, broke escrow signed a lease with Diamond Properties in 2006, September. Started construction, going for town approvals and this is a town that had a sleeping giant 36-acre campus that was the grand union distribution center, based in Westchester County. They were off of a railroad spur that was a slaughterhouse and banana ripening and avocado ripening, you name it. This 600,000 sqft. building on 36 acres, in Mt. Kisco. And we were the first tenant to move in. And Diamond went with us to town to go ahead and get it changed to multi-tenant zoning. And about a year later we opened to the public. And since then, the center has grown, our neighbors on this building are a high-end athletic club with a pool, as well as MMA Center, a training and trampoline park and numerous other, you know, tenants. So, it’s gone from a single tenant use building, to a

multi-use. We have really changed the overall campus provided a bunch of jobs to the area, etc…

In 2008, obviously, a rough year to start any business, especially a pipe dream and we saw some hardship. And with that the landlord Diamond Properties, Jim Diamond came on as a partner in the business. We then pushed to open Spin Bowl, which took part of our track space, for indoor go-kart track and built 18 bowling lanes. And bowling was a great feature, it actually made our restaurant food and beverage business profit. As opposed to lose money. So having this restaurant in a go-kart track indoors didn’t prove itself to be a place if you wanted to come and linger longer and drink beers but with bowling it gave us that sort of product. And then we extended it to all ages, which brought in a 3-track set-up, as opposed to a 2-track set-up when we first opened. So, ages 8 and up, or 40 inches with proper mental faculties could drive a go-kart and then we put the arcade in. So it ended up being this 7 day a week, Monday through Thursday corporate event venue. Friday, Saturday, social event venue and family fun, on Friday afternoon through Sunday night. And so far, so good. In 2015 the Diamonds, our partner bought the real estate that included 3 more bowling centers, one in Carmel New York, one in Poughkeepsie New York, and one in Wappingers Falls New York. And they have censured them as “Spin Centers” in those depending upon the site have assets accessories such as: Laser tag, arcade, and our marina properties will end up having outdoor climbing, indoor climbing, ropes courses, as well as shuffle board, and even a Captain Lawrence Brewery. So, it’s really you know, sort of expanded on it. Again, the only way to make a distinct business successful was to spread the call centers, establish a sales department, and the accounting department and all those things across a number of properties and come up with a hospitality brand as opposed to a stand-alone business. So, it’s one of those kinds of go big or go home situations. And the Diamonds were able to fund a lot of these projects on their own. So Grand Prix, the only one that has a bunch of partners in it because it was a private placement. But, the ones moving forward have just basically been themselves and have been for their real estate portfolio. They are a large company with half a billion-dollars worth of real estate that ranges from warehouses, to offices, to medical. So, they are pretty well diversified as well.

John Carney: Yeah, so that is a great entrepreneurial story. I mean, all of the good ones finally get to a point, a line in the sand where they say, go big or go home. And that’s how it generally works. It sounds like an incredible success that’s just going to be gaining momentum. You know, when you say, “Found a sleeping giant.” You basically re-position a dirty, old, I’m picturing a dirty old slaughter house, off the side of some railroad tracks with a bunch of overgrown, you know literally over grown weeds and the terrible parking lot and you know, signs falling down, and all that stuff?

Nat: Correct and an old water tower. I mean it became economically viable as well because it brought taxes back. Karl owned the property back when he owned TWA and the Diamonds had bought it from whoever bought it from him. And there it just sort of sat. And this was a major repurpose, I mean, we’re talking about a hundred bay loading depot turned into call it 15 mixed-use style tenants. A lot of them entertainment, and club based and membership based. So we can go ahead and get special use permits to do it. I went ahead and took it over. The nice part too is it’s got about 180 parking spots. And has two entrances, two, to three entrances. It has a town park, play field, ball field end of it. We do give back to the community. We all employ at this location alone just surround 120 people depending on the time of year. That’s pretty significant for the area considering the only other large employers in the area are Target and the hospital.

John Carney: So, yeah, I mean, just going back, just taking a step back. Because I’ve got a hundred questions? Now, that we’re into it. I mean, it’s for the listeners out there who are in the industrial space, I mean, have some vision. It’s about looking at these opportunities that people who have a headache and don’t want these industrial properties. That you know, it is, beauty is in the eye of the beholder, right.

Nat: Right.

John: But this is called the sleeping giant. But, you run across people that just say to themselves “Why did I buy this? Take it.” And you guys took it and turned it into something magical. So, that’s a great story.

Nat: Yeah, I looked around for two years for landlord that would let me ruin 3 acres of warehouse. And I couldn’t find one. I looked in Connecticut because I had demographics studies that were more promising and lower taxes per sqft. So, it was a better positioning. But I couldn’t find any in Connecticut people to do it. I saw this property in the New York Times and said let’s try it. And then when I approached them I was actually one of two people that had approached it for a go-kart track. And I had the private placement background and I had written to PPM already. And this gentleman, who I did this with was no longer a partner in it but I was part of it originally. He was still an equity shareholder of some sort but he’s no longer an operating partner. He had sort of the age appropriateness, he was 36 I was 25. So what landlord in there right mind was going to write 30 year, or 20 year lease with a 10 year option for a 120,000 sqft. And I was going to pave 65,000 sqft. of the interior space so you can never really reuse it for anything ever again in the warehouse world. So, it was a big leap for them. And the great part is they became essentially the managing partners of this business. And also the future ones for the expansion, so great timing. Especially because they were in the buying mode during this crisis we were all in. They were acquiring more space, and able to live through it and survive. There’s a lot of firms like that that did not based upon on their portfolios.

 

John Carney: Right, alright. Let’s go back and re-visit growing-up. Did you play team sports? Or what type of competitive athletic sports did you play?

 

Nat Mundy: Well, I grew-up hockey, football, lacrosse. Went to West Minster, I was never a varsity athlete when I went to boarding school. But just had a good time with it. And I really enjoyed it obviously. My closest friends were the ones I had on those teams, the boys that I lived with. And dorms basically age 15 on. And I’ve always been mechanical. I remember going to the dump and getting tube TV’s and old typewriters, and taking them apart and seeing how they worked. I’d say I was, probably 10, or so 11? My hockey coach Mr. Breckwald had gone to a Yankee game and won a Yankee go-kart with the Yankee F1 shell with stickers on it. And obviously he didn’t want a kid’s go-kart. So, I was one of the first people in the locker room that day and he said, you know, if you I want it, he just wanted the shell for his wall. So I could have the actual functioning go-kart portion. And he traded me two cases of Coors. And

Coors Banquet Long neck Bottles as payment. So, when I went out to the locker room and asked my dad after practice he went to Bedford Beverage, picked-up a cold case, a warm case and went to Mr. Brekwald’s house and parked outside a Peugeot station wagon and loaded up the go cart. And the nice part, he was on a cult-a-sac so I was wearing basically a hockey helmet and driving around his cult-a-sac with my go-kart. brand new go-kart while my dad finished probably half the case with Mr. Breckwald, while watching me do this. So everyone had a good time that afternoon. I rapidly modified the thing, had a great time with it. Every time I broke it, I made it better. And even went as far as crashing the go-kart into the back of my parents car while it was parked during brake failure. I broke my wrist and waited about 5 days to tell my parents I broke my wrist so they wouldn’t think it happened on the go-kart and take it away.

John Carney: There ya go, so like a hockey player you didn’t let that injury get in the way of a good time. So, the seed was really planted 8 years before the Rolling Stones concert, right?

Nat Mundy: Yeah, I’d say, that was my real eye-opener, that I could sort of obviously say I always loved watching racing things on TV. And we didn’t live in this part of the area, West Chester Town doesn’t have a go-kart track that kids are competing at. You know, it’s not near Lime Rock is the nearest track back then. And it wasn’t what was going on there either. And I think it got me the bug. And you know, the people like Paul Newman, for example, who he didn’t love acting as much as he loved racing. He spent time acting to pay for racing. And I wanted to find a way to basically break into this sport and enjoy it. But, had to turn it into a business to pay the mortgage, for me, that you could raise a family on. And you know, it took about 10 years for us to really, 8 years of the 10’s so far for us to really figure out how to position it and how to expand how to do it properly. We just opened the Carmel Spin’s Bowl location on Tuesday. And that’s 5 of the 9 that are completely up now and under the new Spins name tag.

John Carney: Congratulations for the new edition. So, it sounds like you’re scaling your business and the real estate, owning the real estate, I imagine is part of, is a segment of that overall operation, am I correct?

Nat Mundy: Yes, so the Diamonds will acquire the real estate and bowling alleys they essentially trade for what the building is worth. They don’t really trade for the business value or anything. These centers need some major rehab. So Jim and Bill will acquire a building that has a bowling alley in it and they will keep it as a bowling center.

And then our hospitality group. “Diamond Hospitality” comes in, post-renovation, some of our guys will be on the ground working on it. The ceiling tile this color, the paint this way, use the old lanes as bar tops, sub-tile here, you know, they really have a great D & A set-up. The centers all look similar because of that. Setting up a proper arcade with a redemption which is huge. The arcade is about 16-20% costs of goods sold, it’s amazing business. And go ahead and work with the new locations to figure out how to fill it 7 days a week. And for them, it’s about getting the four days after they’ve closed on a building, they’ve got a lease signed by their sister company that’s leasing out the space. And we set rent to where we know it can be an affordable thing for the center. And then go for it from there. And all it’s been so far is growth and knock on wood we’ll keep on going. We closed on a bowling center in Independence in Ohio. And then there’s one by Kent State also Ohio, that’s one. Hopefully, we’ll be wrapped up fairly soon, to open as a Spins Center location as well. So, we’re going as far as Ohio now, if you think about it.

John Carney: Wow, I mean, Independence, Kent State, that’s right around the corner from where I am.

Nat Mundy: Well, there ya go.

John Carney: You’re getting in the neighborhood. When you come out for a second inspection. We’ll have to have a…

Nat Mundy: Definitely.

John Carney: A cold beer.

Nat Mundy: I just met the gentleman manager for Independence via email yesterday. And that was our first contact. But, you know, it’s going to take a little bit of training. Get him up to speed. And at that point change their name tags and their shirts and then they become part of our team and we continue going.

John Carney: Right, and I mean, at the end of the day we are talking about real estate and business, they are both team sports. I like to say if you’re scaling up a real estate investment portfolio within any of the niches, that’s a team effort. Or you can be selling a doughnut, that’s a team effort with either one. When you are talking about your team, I mean, there’s obviously people in your team, that you could have, that have stuck with you a number of years now, over a decade. But is there one specifically, a specific advisor that you turn to for advice? Or when you were just starting out? Because this is about helping people start out and scale.

Nat Mundy: You know, I think a couple of great things. I grew up in an area where you know, a lot of people had sort of the last, my parent’s generation was the last of the generation that kept jobs for 35 years in the same place, right? And meanwhile, there was already some sort of movers and shakers in the area. I worked at a deli from the age of 12 and up folding newspapers and stocking shelves. And I actually drive my four-wheeler from my parent’s house to the deli. And that was back in the town, back in the day when no one cared. It wasn’t like it was rural America. This was West Chester County, its Bedford New York. But it was a lot less people then. I learned just sort of, I think from my father overall, you just had to have a work ethic and just go with it. And he was a lot more conservative in his approach to career and work. Whereas for me, this is sort of how I manage my ADHD. This is my self-medication. Where I focus my scatteredness onto a productive platform of opening a businesses and finding really great partners. You know, Jim Diamond, who founded Diamond Properties is a great guy as well. He typically can analyze what I’m showing him as long as it’s a spreadsheet or written down in a constructive manner and give some great points, very entrepreneurial as well. They didn’t start in real estate. They started in the technology world and then transitioned into real estate. So when their technology company, one of many sold and when the business sold, they were left standing with their real estate portfolio. They have partners like Princeton Realty, which was from an Albright family which was in the same office as us and that’s on the brokerage side. They are also partners in other building stuff. Again, they’ve also sort of filtered things into a real estate play. I mean we even have an auto storage, they have self-storage in a bunch of locations, currently three now, they got one out in Connecticut, one in Elmsford, and one in Mount Kisco. But at the Mount Kisco location we took the second floor of an old body shop that’s on this campus and turned it into an auto storage. And you know we’re talking about 6500 square feet of space that’s producing about $100,000 a year in revenue at very little cost. Just taxes and whatever debt service there is, There’s no employees for it. There’s just insurance for it and a very small utility bill. So, you know, that’s the kind of thing they are good about. And when I came to them with that idea they said, “Yeah, do it!” And we took about 3 years to fill it and now that it’s full, it’s full, and it’s an annuity. When they’ve had tenants in the past have any issues they’ve also been able to pull them in and use their, you know, so they have a HVAC company or an electrical supply company. You know, what landlord with you know 3 million square feet does not need one of those, you know, in their back pocket. So, they’ve been able to get through by being like wonderful over all landlords and expanding into other market segments because they own the real estate those market segments comes from. It’s a very dynamic group. I’d say, meeting them, sort of took my cowboy business person nature from Wall Street and really reformed it and shaped it into a more sustainable, entrepreneurial scenario where it’s just backed up by real estate. I mean, if cash is backed up by gold sitting in a box somewhere on this continent, if your business is at the end of the day backed up by a real estate play, I think that a you can have less issues going forward. Me, I’m a very small landlord. One of the hardest things, you know, I have to look at. Is that, if you go ahead and you look at the market, I watch my friend from the hedge fund world and we’ve all had separate jobs since college. I’ve had a friend who’s done everything from a FCC to Bridgewater Capital smaller funds and they have all bounced around and a lot of them spent a lot of money on grad school and business school and they necessarily didn’t need to, if they just sort of found the right partners early on, they sure could have avoided all of the skipping around. And it all goes back to real estate. I think in that we would never rent any space to then go ahead and put a go-kart track and a bowling alley into. The Diamond’s rule is they will buy and own this real estate and then we’ll create entertainment space within it. And that approach has worked for them over 9 centers by this time next year. They are already in the hopper purchased and then the goal will be closer to 20 in year 4 years from now.

John Carney: Yeah, I mean, I just love hearing stories like this. Like about the gritty start about the personalities that come together, about the team, I’m big on team, it’s about the team and the gels. I mean, I would say, the to the listeners out there if you have a fire in you, an entrepreneurial fire in you and you find people that you can partner with, that understand the vision and have the experience. I mean, that sounds like what you did Nat, what you did in the past. It’s a play it forward to, I mean, you get to a position where the young guns are going to come knocking on your door and you’ll get that opportunity. Well, that is truly a great story. You know, on the real estate side, re-positioning the industrial to fit this need and to scale up and move west, is cool. I’m looking forward to checking out your brand once it’s up and running here in Ohio. Let’s get into our “2-minute drill” here. Are there any sports you are still playing today?

Nat Mundy: Ah, yeah I still play pick-up hockey and I’m actually racing most every weekend, in one format or another, whether it be in a go-kart or a car. So, that’s sort of been my activity at this point. My boat has turned into a place to listen to music and drink beer.

John Carney: That’s good stuff. Are you a reader? Is there a favorite book related to an athlete or sports or business that you keep coming back to?

Nat: You know, it’s funny. I frequent, you know, you remember the movie “Cocktail” where Tom Cruise is the bartender? And there’s a success manual behind the bar?

John Carney: I do, I do.

Nat: So, my success manual has been reading and re-reading any of Richard Branson’s stuff.

John Carney: “Losing My Virginity” I would say, that book was an instrumental part in my decision to work for myself.

Nat Mundy: I mean, he’s had the ups and downs. But the specific thing about, he’s kinda stayed classy the entire time. You know where as we see a bunch of entrepreneurs that aren’t as good about their sort of public eye. You know, Richard Branson has worked the entire time for $4.9 billion and I believe every cent of it. You know, versus a lot of other billionaires out there that are supposedly self-made. Anyway, for him it was all about the hustle and I love reading how he changes with, one of his book, I forget which one, but some of the copyright laws and how some of those are changing and how he then figured out a way to make money still, you know, in that space in the music world. And then obviously on the phones, and airlines and you know the “Space X” project. I take it he’s just a very, an entrepreneurial hero. And the cool part is that he was able to do it in London as his kind of home base as opposed to I feel everyone else just runs to New York or L.A. to become an entrepreneur.

John Carney: Yeah, we like Richard. I mean I was living in Australia for 7 years, the Virgin brand is very present there. He’s in town promoting various, whether it’s the airlines, or something else you know, enough that he gets a lot of press outside of America. I agree he’s an entrepreneurial hero.

Is there a quote from someone that keeps you motivated in the morning? Because we all know that you’re running a real estate business or scaling up a franchise in go-karts that there’s too many obstacles that are going to knock you back and is there anything that you like, nope I’ve got to keep going?

Nat Mundy: I don’t think I have so much of an inspiration she won’t quote as much as just sort of. And I went to this summer camp and it was an all-boys camp for three years in the summer and they always talked about courage and loyalty. And that might sound a tad cliché and cheesy. But number one, you have to have the courage to step out and do something. I could have stayed at my firm and probably would have probably still been there today if I had never left Wall Street. Or I would have moved onto something else. I’d probably be a director of some level of this point. Sure, but I also have a lot less hair. I’d be a much bigger stress case I’d also be commuting via train. Have you ever see the zombies get on the train at [5:30] in the morning and come back at [7:30] in the morning. They give up a huge part of their life, their family life for that roll. And that’s why you’ll never hear me complain about a Wall Street executive getting paid millions in bonuses because they basically become, their family basically becomes the firm. Their priorities become their job over their families and they miss a lot. And then you know comes the loyalty. I think family comes first and if you can stay loyal to your family and friends, you have the best part of business for the rest of your life. I mean, money aside, really all businesses are doing is helping to create money. But, if it provides for your family the way you were brought up or better, I think that’s success. So my goal would be to be able to send my kids to good-schools and not have to struggle week to week to make ends meet. Have them with a good life style, to get good educations, and then enter into business one day or expand it for which one is better and newer. It’s not a phrase so much, two-traits; courage and loyalty. Step out, step in the way and keep the people that keep you going as close as possible. Make sure that everyone is healthy and happy.

John Carney: Yep, that’s good advice. And I just want to build on that a little bit. Is there a daily practice, how do you train for success, how do you personally train for success? Different people do it in different ways, they get into a flow state or they get into their own zone. Is there a ritual or habit that you have?

Nat Mundy: Yeah. I can’t live without a calendar in my phone. I mean, part of my learning disability are I need things to be very organized and everything has to be in writing. So I start my day by having to review the calendar the night before for the next day. So when I get up I know what time to set the alarm. So basically it starts at bed time and then when I get up in the morning I make coffee at home, I watch the news. I have an awareness of what’s going on in the world and clearly now a days there’s a myriad of news to watch. I feed my dog, take her outside and do a certain morning ritual of showering and get to work before anyone else. That way I don’t have to have any distractions and any loose ends that came up after I left work the day before I have completely tidied up for start of business officially for the rest of the office. And then because of that I can say to myself that when I leave for 4-5 days at a time because everything is tidied up and there’s overall communication. I have update email that I probably send out 3-4 times a day to keep the ball rolling. That could be anything from a last minute event being booked at one of our centers to a decision on furniture. But it’s a great chain email so all the ideas are in one place and I think the ritual there is to start that chain of creativity every single day and not forget a single day to do it because it keeps people in the know and it gets the cheering section going too.

John Carney: We’re running a little long but I wanted to just ask based on that, getting to the office, turning on the lights. Is the CEO per say, did you find that, that sets the precedent, you set the bar here and your employees coming in notice that and that expectation is set and you’re leading by example.

Nat Mundy: You know, I think what we really done is a great job of weeding out the rift-raft. And getting rid of sort of no department has a, it’s pretty linier company. Okay, so no department has crazy hierarchy, there is clear seniority at places in fact, there’s no feeling of animosity ever or like you’re not equal. I mean we all said the same table to lunch, there’s no crazy separation. But meanwhile, if I walk into the men’s room at one of those centers and it’s dirty, I’m mopping the floor. And you know, I expect them to do the same thing when they walk in. If the track marshal walks into a bathroom or sees like a cup on the ground while walking to get some food they should pick it up. They see me do it. As long as you’re willing to help set-up chairs you get the respect of other people that are there for a little bit.

John Carney: Yeah, that’s, that is powerful leading by example. Hey, look Nat I want to thank you very much for joining me today in the Locker Room. Where can the members of the audience find you if they want to carry on this conversation and learn more about the business.

Nat Mundy: I mean, www.gpny.com is the website for the indoor track at Mount Kisco which is the mother ship. And the rest of the locations are under www.spinsbowl.com.

And the real estate arm is – d-i-a-m-o-n-d-p-r-o-p-e-r-t-y-m-g-m-n-t dot com. And you know if anyone has any questions or wants to invest in centers or is looking for advice I’m always available for phone conversation or a quick email. Not a problem.

John Carney: Alright, perfect. There ya have it folks I truly hoped you picked up some actionable advice today from Nat Mundy. Make sure to check out The Post Game Report on iTunes and while you’re there please subscribe to the Real Estate Locker Room Show to ensure that you never miss out on the pro tips from our guests. The mission here is to help you elevate your real estate game and your business. If you like what this show is about I’d be grateful if you would leave us a 5 Star review here on iTunes and that way other like-minded people and investors like yourself will be able to find us when they search for “real estate.” You can visit John Carney online – www.johncarneyonline.com for links and additional content associated with today’s show. So we will post all of those links that Nat just mentioned there for you to click through so you guys can get connected. And while you’re there drop your email in to get your newsletter. This is so you don’t miss out on any insight, tips, tricks, hacks, and other great stuff. So, remember to stay focused on your goals everybody, have fun, and stay in the game, I’m your host-John Carney, until next week, work hard, play hard, and profit hard. Thanks Nat.

Nat Mundy: Thank you, be good bud.

End Audio.

[39:48]

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