Ep49 The Architect's Role with Joe Feldmann

[00:00:00] I'm all for finding the best possible solution for the lowest possible dollar amount. And that's what I would hope you'd expect out of your experience working with an architect. The idea that we're not just here to spend your money, that's how we're thought of sometimes, but we're actually here to help you save money.

[00:00:14] From cornfields to high-rises, office to industrial, houses to hotels, and every other asset class in real estate, we cover the people, the projects, and the profit. Welcome to the Investing in Iowa Show.

[00:00:27] This show is for go-doers, action takers, and business owners. It's for people like you who are sick of Uncle Sam taking a huge bite of your apple. If you're looking to get ahead of what's taking place in Iowa, learn who is doing what and how you can get in on the action. You're in the right place.

[00:00:45] Hosted by Neil Timmins, an Iowa native who has been involved in over $300 million in real estate right here in Iowa. Recording in studio from West Des Moines. Here's your host, Neil Timmins.

[00:00:59] I've got Joe Feldman here on the show. Joe, welcome.

[00:01:02] Oh, thank you, Neil. Appreciate it.

[00:01:04] Sam, excited you're here. For the audience's sake, who are you? Where are you from? What do you do?

[00:01:08] Obviously, you should all know me by now. I do a Lego for downtown.

[00:01:14] I've got Joe Feldman here on the show. Joe, welcome.

[00:01:16] Hey, thank you, Neil. Appreciate it.

[00:01:18] I'm excited you're here. This is going to be a fun conversation today. For the audience's sake, who are you? Where are you from? What do you do?

[00:01:24] Yeah, I'm an associate principal for OPN Architects, Iowa, born and raised. I grew up in Carroll, Iowa. Had amazing parents. One that focused on, he was an accountant, owned his own business, entrepreneur.

[00:01:37] And a mom that worked for a nonprofit dealing with kids with disabilities. So I had a headstrong and then I had the heart component and into who I am. Some fantastic siblings that are outdid all of my accomplishments. But we try not to talk about them too much because they get enough praise as it is.

[00:01:53] Well, yeah, I'm an architect by nature. I've worked with the same firm since I graduated from Iowa State about 20 years ago. So it's been a fun ride, but didn't get too far. Was hoping to maybe have these big dreams, be an architect. Growing up in small town, it's hard to envision. What am I actually going to design? Like I didn't want to do houses, but I didn't really know what I wanted to do.

[00:02:14] But it's one of those lucky few people that from like the age of eight, my parents said, I always knew I wanted to be an architect and I've never really strayed from that path.

[00:02:23] What was the genesis of that?

[00:02:25] I don't know. I love to draw. My dad was a do-it-yourselfer. So constantly designing, we put on our own addition to the house, built the deck. And I was always really intrigued with, did my hands dirty and taking the tools out and forgetting to put them away.

[00:02:40] Those kinds of things. So I've always loved to create. And I think that just evolved into how do I create things for other people, not just myself.

[00:02:48] When you went to Iowa State and the intent from day one was to be an architect. That's what, by suspect, what drew you to state?

[00:02:56] Oh, Iowa State was an easy, the easy button. One, it's close to home. It's the most affordable, but actually at the time I applied to a number of other schools just for fun.

[00:03:06] And Iowa State was a top 10 rating school for architecture. So it was almost a no-brainer to go ahead and choose Iowa State and definitely don't regret that decision.

[00:03:16] Yeah. Wonderful institution. All right. So you get out, you join OPN in the early days there. What are you doing?

[00:03:22] Yeah. Like I said, I thought a big city, Chicago. Never really thought Des Moines.

[00:03:26] I saw in with OPN Architects as a summer intern. And when they had just opened the Des Moines office, for those on the call, maybe a quick explanation.

[00:03:35] We have five different studios, about 120 of us. We practice architecture and some interior design.

[00:03:41] We have offices in Cedar Rapids, Iowa City, Des Moines, Minneapolis, and Madison, Wisconsin.

[00:03:47] So practice across the Midwest. But at the time I joined, there was maybe 30 of us.

[00:03:52] They had just opened into my office. I was employee number three or four, I should say, throughout the summer intern.

[00:03:57] They always knocked me down a peg. And I loved it because I was able to participate in all aspects of design.

[00:04:03] I really felt like I was making an impact. And a lot of the friends that went to the larger cities, they were part of these large firms.

[00:04:10] They did some really cool stuff, but they were just a cog in a wheel.

[00:04:13] And I always wanted to figure out how I could do more and be more. So I'm a good fit and I never looked back.

[00:04:19] Yeah, that's incredible. Now, what you did when you started compared to what you do today, how has that evolved?

[00:04:25] And I guess, how have you had to change and evolve at the same time?

[00:04:29] Yeah, good question because as an architect, I feel like I'm constantly evolving.

[00:04:34] There is no status quo to anything we do. Obviously, early we were small.

[00:04:38] And so we were taking on a lot smaller projects where a three or four million dollar project was a fairly big win.

[00:04:45] Now, we need to consume three and four million dollar projects on a weekly basis.

[00:04:49] So it's a lot different animal. We're looking for larger projects.

[00:04:54] Complexity has grown dramatically from some of the things that we were doing early on.

[00:04:57] But at the same point, it's a similar process. So the process has evolved a little bit.

[00:05:01] The scale of work we've done has grown pretty dramatically.

[00:05:05] But it's the same kind of feeling that I had back then that I probably get today.

[00:05:09] And it's the idea that we've helped someone create this new thing.

[00:05:14] And we're basically just trying to create a product of a vision that they've had for a long time.

[00:05:18] So just a different animal, just a little bit more complex than it used to be in an ever-changing world.

[00:05:24] We're trying to keep up with...

[00:05:26] Obviously, if you would have told me AI was around back when I graduated from college, I would have been like AI like the Terminator.

[00:05:32] And now it's something that is a reality.

[00:05:34] A lot of people use it for a GPT, but it's something that I think is going to dramatically change our industry.

[00:05:39] Not in a decade, but probably in the next couple of years.

[00:05:42] Well, come back to AI in just a sec.

[00:05:44] But I want to go back to...

[00:05:45] It's changing. Always changing.

[00:05:46] Right.

[00:05:47] I want to go back to something you said, that things are evolving and becoming more complex.

[00:05:53] Look at a set of drawings that was generated 20 years ago, 30 years ago.

[00:05:59] It's probably half the amount of drawings, a third or quarter amount of the drawings that we're actually producing today.

[00:06:06] Because we have these tools that can do it.

[00:06:09] So we're able to design down to a greater detail and be able to hand over a more integrated set of documents to contractors, to owners, to review.

[00:06:19] Far more than they ever used to be in the past.

[00:06:22] So the tools we have are fantastic, but they are a lot more complex.

[00:06:26] We don't just design 2D CAD stuff anymore.

[00:06:29] Everything is going to be three-dimensionally designed and reviewed.

[00:06:34] So CASH is more complex than it's ever been, but it's fun.

[00:06:37] How do you see AI impacting what it is that you do?

[00:06:43] Oh, there's, I think, a lot of directions it's going to go.

[00:06:47] I think as architects, we are not overly fearful that it's coming for our job simply because we are somewhat of an art and science combined.

[00:06:57] We also have to listen and provide empathy with owners.

[00:07:00] We have to understand what it is they actually want and then figure out a solution.

[00:07:04] And there's never really one possible solution.

[00:07:07] We navigate hundreds of different solutions that could be successful.

[00:07:11] AI is going to help us maybe get there a little bit faster, be able to generate ideas faster.

[00:07:17] There are systems out there today that help with programming, whether that's healthcare in rooms or multifamily rental units, hotels, you name it.

[00:07:27] You can plug in programs and it can basically generate 100 different floor plans for you, where 99 of them might be really bad.

[00:07:33] Right.

[00:07:34] Right.

[00:07:34] It's not going to give you the perfect solution.

[00:07:36] And that's where I think we're always going to be involved, but it is shortcutting some of our day-to-day tasks.

[00:07:42] And I think that's going to be probably the biggest impact to us over the next probably just two or three years.

[00:07:49] All right.

[00:07:49] So let's say a client or a potential client comes to you.

[00:07:53] I suspect, so correct me here.

[00:07:55] I suspect somebody comes and they have an idea.

[00:07:57] They got a business plan behind it, which generally means either they're an investor and they're going to go do something and ultimately lease that property typically, or they're a user.

[00:08:08] And it has to be functional for their specific use.

[00:08:12] Is that fair to say that what you do falls into one of those two categories?

[00:08:15] Oh, yeah.

[00:08:16] Even beyond that, everything from a facility assessment.

[00:08:20] Tell me what's wrong with what I have to have this idea.

[00:08:23] I don't even know how big it wants to be yet, but I have this concept.

[00:08:27] So we can help navigate a process with them to create both like a program.

[00:08:32] Say I wanted to start a restaurant.

[00:08:35] I don't really know how big it is, but I have this idea.

[00:08:37] So we start asking, architecture is really good at asking more questions and then sitting back and listening for a job.

[00:08:43] And then create a document, whether that's a drawing, an image, Excel spreadsheet that helps someone make better informed decisions.

[00:08:52] So our job is to jump on board at any given moment.

[00:08:58] We're not just a group that creates permit documents so you can go to the city and get something built.

[00:09:03] We're more than happy to help with that too.

[00:09:04] But I think our greatest value is when we get on really early to help with that kind of ideation and defining what it is that they actually want to accomplish.

[00:09:13] We're on board at any given moment with a client.

[00:09:17] And that's what makes it fun.

[00:09:19] The longer we can get involved, I feel like the better the outcomes can be.

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[00:10:02] The better the outcomes, I suspect, for both the physical product that one sees, also probably the cost associated with that physical product.

[00:10:11] Because being there early gives you plenty of time to plan, to flush and everything's out that you're going to execute on.

[00:10:19] Oh, yes.

[00:10:20] This is one of those careers in some architects that are also developers, investors, where my job is basically to spend your money.

[00:10:27] And I take that very seriously.

[00:10:30] Like I said, I grew up an accountant.

[00:10:31] And it was always, I was probably a little too frugal.

[00:10:34] I was always in those purse strings.

[00:10:36] And I think I've taken that into a lot of the projects.

[00:10:39] I'm all for finding the best possible solution for the lowest possible dollar amount.

[00:10:45] And that's what I would hope you would expect out of your experience working with an architect.

[00:10:50] The idea that we're not just here to spend your money.

[00:10:53] That's how we're thought of sometimes.

[00:10:55] But we're actually here to help you save money.

[00:10:57] Whether that's upfront or in a lot of instances, it's us providing enough information to show that, hey, if you make this investment now, this is going to save you this much money over the course of the next 10 years.

[00:11:07] So it's about lifecycle cost.

[00:11:08] Here's your project.

[00:11:09] Here's what it costs.

[00:11:10] Here's the check you're going to sign.

[00:11:11] But here's what this project's going to cost you over the life you're going to own it.

[00:11:16] I think whenever people could produce documents, construction documents, put a plan in place so you could run off and build it, not everybody can add the value to a business plan in your world.

[00:11:28] It takes somebody who has a greater view to be really an extension, a business partner associated with that project.

[00:11:38] Yeah, we would hope we'd be signed up as a partner.

[00:11:41] I'm a part of a lot of projects that can make it to the finish line.

[00:11:44] That actually happened.

[00:11:44] I'm a part of just as many projects that are planned.

[00:11:48] They evolve.

[00:11:49] And at the end of the day, maybe they don't make business sense.

[00:11:51] And that's our goal too, is we want to be able to help create an in-product that makes sense for everybody.

[00:11:58] Some of the recent projects, I was working with some commercial brokers that were looking at a historic space downtown Des Moines.

[00:12:06] And they had a great opportunity.

[00:12:08] They had tenants looking at it.

[00:12:10] They wanted to create the space.

[00:12:12] And we put together a set of documents that we can get priced out.

[00:12:16] And at the end of the day, didn't quite cut it.

[00:12:18] It didn't make business sense.

[00:12:19] But we're just a partner along for that ride to help them make those better decisions.

[00:12:23] And we're more than happy to get involved in those projects as well.

[00:12:27] Yeah, that's interesting.

[00:12:28] How has the fact that the interest rate ran up practically doubled in a short period of time?

[00:12:33] How did that impact exactly what you just said, that some projects just don't pencil?

[00:12:38] During that period of time, was that rampant in your world?

[00:12:41] What did you experience?

[00:12:42] Yes.

[00:12:43] Okay, we're a general practice firm.

[00:12:45] We do lots of projects across a large spectrum.

[00:12:48] And we use that opportunity to be able to pivot, depending on what the economy is telling us.

[00:12:55] So that helps us.

[00:12:56] We don't have the major swings that if I just did multifamily, I'd probably be in trouble at certain periods of time over the last 20 years.

[00:13:03] We do a lot of public work.

[00:13:05] We also do a lot of private work.

[00:13:06] Everything from down over a million square feet for principal downtown.

[00:13:10] One of the most fun projects I worked on was Cross Gateway Center.

[00:13:13] And then right across town, all the courthouse projects for Polk County.

[00:13:17] So I got public, we got private, we work with K-12, higher education.

[00:13:22] So we navigate an ever-changing economic market.

[00:13:26] As one goes up, usually the other goes down.

[00:13:28] And most recently, the private stuff has fallen off quite a bit.

[00:13:32] In our world, not everyone's building new office space.

[00:13:35] Where that used to float, potentially 75, 80% of our workload, it's probably flipped.

[00:13:40] And the public stuff has been an area of higher focus.

[00:13:43] That's fire stations, public safety, libraries, city halls, you name it.

[00:13:49] I think at this given time, we're probably working with almost every metro city.

[00:13:56] Within the last couple of years, that's clived in a city hall space.

[00:14:00] Johnston Town Center and City Hall.

[00:14:03] We're working with Grimes, Waukee Public Safety, Bondurant.

[00:14:06] So obviously, our angle has shifted a little bit.

[00:14:10] And I think that is because that's so much the most current interest rates.

[00:14:14] But COVID took a big dive on some of the more private projects.

[00:14:18] And the things that are quite prevalent in the Des Moines market were industrial, warehouse, data centers, and then some multifamily.

[00:14:27] And those were areas, even though we're general practice, if you aren't already in the data center game a long time ago, it's not one that you just jump in, especially with the big players that do that kind of stuff.

[00:14:38] So we missed a little bit on that.

[00:14:42] And the multifamily has actually helped quite a bit.

[00:14:46] Again, our Eastern Iowa office, so a lot of Iowa City, Cedar Rapids.

[00:14:49] But in our central Des Moines market, that's an area that we hadn't been as busy with, simply because developers already have certain partners.

[00:14:59] And some of those developers are coming from outside of our market to invest their dollars here, which is amazing.

[00:15:04] I don't take it all day long.

[00:15:06] But we don't have those same partnerships with them yet.

[00:15:08] So we've been relying heavily on public.

[00:15:11] What we're hearing is we think the private stuff, there's some pent-up energy there and some capital that hopefully as interest rates start to tick down, that money comes back up to play.

[00:15:21] And we're hoping that some of that changes over the next six months to a year.

[00:15:25] We're watching it very closely.

[00:15:27] I know I listened to a previous episode, Jack Esser is a buddy of mine.

[00:15:30] They were talking about architectural billings index.

[00:15:32] And as much as I like contractors talking about our stuff, I feel like I maybe could add a little bit more context.

[00:15:39] Architectural Billings Index, it's basically if it's above 50, that means we're doing good.

[00:15:44] If it's below 50, that means there's a dip in inquiries.

[00:15:49] So the architectural billings index tracks how many new project inquiries a firm is taking in.

[00:15:56] So if it's above 50, that means we're tracking more new projects.

[00:16:00] And if it's below 50, we're tracking fewer and fewer projects.

[00:16:04] And now over the last year and a half, we've been tracking below that 50 mark.

[00:16:10] Which means there's a little less work out there in our world, which is just a little bit more difficult to navigate.

[00:16:16] We fight over projects a little bit more than we used to.

[00:16:19] Everyone's got to sharpen their pencils a little bit more than they had in the past.

[00:16:23] And sometimes we just got to flip over more rocks and see what's out there.

[00:16:29] Create projects all by ourselves would be fantastic.

[00:16:31] We were the developer, but we're willing to work alongside some of the developers and be good partners.

[00:16:38] A lot of times we're willing to take on some risk on the front end to see if deals can actually be made.

[00:16:43] It's been a fun process.

[00:16:44] Like I said, we're always changing.

[00:16:45] We're always evolving.

[00:16:46] One of the things I think is interesting about the Architectural Billing Index is that you guys ultimately lead.

[00:16:53] Meaning if it's slow today, nothing's going in the ground in 12 months from now.

[00:16:58] And if things pick up today, it gives us a pretty good indication that development is moving in an increased fashion in that direction.

[00:17:08] I think there's some things that could be done there from the investor's world to give thought to how to best use the information that's there.

[00:17:16] I know you referenced Jack Escher, episode 34 for the audience.

[00:17:19] In case you want to go back and check that out.

[00:17:21] He's on the construction side.

[00:17:22] He's on the building side.

[00:17:23] They're looking at that to try to predict what's coming down the pipeline.

[00:17:28] Because Joe, if you're not billing for it, he's not going to build it.

[00:17:31] Outside of a few industries, things are just a little bit slow right now.

[00:17:34] That is probably a precursor to what it's going to be like in 12 months to 18 months on the construction side.

[00:17:41] Like you said, a large chunk of our projects right now are planning.

[00:17:45] They're either master planning, trying to figure out what are we going to do next once the revenue streams are able to change and things become a little bit more favorable.

[00:17:55] So just because we're doing a bunch of projects and sometimes they're not leaders, they're little things, studies that we potentially lose a little money on.

[00:18:03] At the end of the day, we hope they pay off in the long run.

[00:18:05] So hopefully it's not, I don't want to be able to take it as all doom and gloom.

[00:18:08] It's not just the way that we approach projects right now.

[00:18:11] It's probably just a little bit different than it had been in the past.

[00:18:14] But developers who are building a project, let's call it on the investment side of the equation, not a user operator.

[00:18:22] The people you've dealt with over the course of your whole career, the best, where do they get it right?

[00:18:28] And then the other side of that is who gets it wrong?

[00:18:31] Meaning what separates those two when they're executing on a project?

[00:18:35] Oh, that's a good question.

[00:18:36] I don't think you've been asked that, so that's really good.

[00:18:38] Appreciate it, Neil.

[00:18:39] The ones that I think do it right are the ones that can appreciate more than just right here, right now, moment in time.

[00:18:47] And those that have a little bit longer, they're able to beat their head up just a little bit.

[00:18:51] Some get their head down really fast and can only see short-term gains instead of potential long-term assets.

[00:18:58] And as an architect, I take a huge responsibility in whatever we're creating or designing for somebody.

[00:19:06] I don't want it to be short-lived.

[00:19:08] A lot of money, a lot of capital, a lot of time, energy, and effort goes into a new project.

[00:19:14] I want to make sure it's going to last.

[00:19:15] And so those that take a little bit more time to think about a long-term on a project, I think are the ones that do a little bit better.

[00:19:22] And the other side of that too, just because I've been a lot more involved than public projects, the ones that create a better impact on their community,

[00:19:31] the ones that think of a project more as beyond just this building, how can it be about placemaking?

[00:19:37] Those projects, I think, drive a lot more surrounding projects to come alongside.

[00:19:43] I think of, yeah, I live in Prairie Trail.

[00:19:46] The reason I moved here is because of the idea of the district, walkable community, and all the other things that come alongside of it.

[00:19:53] We were fortunate to be a part of some of the early things out in the district with the new library, and we love it.

[00:19:58] But you build this one thing, and then it grows into this even bigger thing.

[00:20:02] It's about placemaking.

[00:20:04] And so those people and those groups that think about projects in that way, I think, are going to leave a much larger, more lasting impact on the communities that they're involved in.

[00:20:15] The people who fall into that category, are they typically the people who are owning and operating a property, meaning they're not just building that?

[00:20:22] They're not just building that to fill it and sell it in a relatively short timeframe.

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[00:20:59] I wouldn't say the majority, but obviously those that know they're going to hold on to an asset for a long period of time are willing to play the long game.

[00:21:06] They obviously fall into that category.

[00:21:08] I really hope they would.

[00:21:09] But I think there's a lot of really great developers.

[00:21:12] I think the market here in Des Moines, I'd just look around at what Des Moines has done in the last 20 years.

[00:21:16] There's a reason I stuck around, right?

[00:21:18] Like my first day in Des Moines, the way people thought of it was a little bit different than it is today.

[00:21:24] And I think it's because of not just, it's not us architects doing all that.

[00:21:28] It's the developers reinvesting, creating a place of community, but then also just a lot of pride in what we do.

[00:21:35] I got inspired recently, if anyone wants to look it up, but we designed a Lego Skyline set for Des Moines.

[00:21:42] And it's been a lot of fun just to watch.

[00:21:45] We take a lot of pride in Des Moines.

[00:21:48] I think we have one of the best cities in the Midwest, hands down.

[00:21:52] Hopefully my Madison, Minneapolis and other friends aren't listening.

[00:21:55] But I think Des Moines is something a lot of others don't.

[00:21:58] We have really great architecture.

[00:22:00] We have really good metros and cities that want to invest to make the community better.

[00:22:07] And the developers go right alongside of that.

[00:22:09] The stuff that we're creating, whether it's out in West Des Moines, here in Ankeny, out in Waukee, Bondurant.

[00:22:14] Like everybody is bustling.

[00:22:15] And that's because of the quality of developers and investors that are coming in to central Iowa.

[00:22:23] I think we're just lucky.

[00:22:24] Pinch ourself.

[00:22:25] You mentioned the word reinvesting.

[00:22:27] Redevelopment comes to mind because what you do isn't just ground up, brand new, from scratch.

[00:22:31] You probably, I suspect you get into a number of historical type projects and or just redevelopment type projects of modification of buildings.

[00:22:40] Is that fair?

[00:22:41] Oh, absolutely.

[00:22:42] I think historic is actually one of the arms that are one of our strongest.

[00:22:46] We've essentially done all the work at the state capitol for a long time.

[00:22:49] Just finished a project that is almost as old as my oldest child with the Polk County Historic Courthouse downtown.

[00:22:58] And I'd spent probably 12 years between master planning, designing, construction of some of those projects.

[00:23:08] The historic stuff is amazing.

[00:23:09] So just finding ways to reuse space we already have and reimagining it for what it could be today and into the future, both for workforce or living, for play.

[00:23:23] Like all those things are going to be important.

[00:23:25] We have a ton of buildings that are going to be vacant in the metro, I feel like, in the next couple of years.

[00:23:31] And we're going to have to start getting really creative about how we reuse this.

[00:23:35] I think there's some concern about being overbuilt or multifamily downtown.

[00:23:39] I don't think we're there quite yet, but there's a lot of new stuff going on downtown.

[00:23:45] We're watching very closely what happens to office space.

[00:23:48] Obviously, there's some new players coming back downtown, which I think is fantastic, but it's at the loss of another metro city.

[00:23:54] I'd rather find ways to bring in outsiders, maybe outside of Iowa, to come look at the buildings spaces we have and the environment that we have here in Iowa from an economic standpoint, I think is appealing to a lot of our neighbors.

[00:24:09] So I think we're on the right foot there.

[00:24:11] I get a little nervous, though, that we're going to have a lot of empty spaces in downtown and constantly trying to think of how we can reimagine them.

[00:24:18] Yeah, it's a unique challenge in the central business districts, not just Des Moines, but all across the country, specifically in office because of what's taking place on the backside of COVID.

[00:24:28] It has become uniquely different and a unique challenge for developers and architects to figure out how to solve that riddle.

[00:24:36] And without just making things up, it's office space, which we know is changing, evolving, totally different than it was five years ago.

[00:24:44] Right. And a lot of people say the answer is multifamily or a few of the other podcasts that we've done, too, that we can't turn these large floor plate offices into multifamily just doesn't work that way.

[00:24:54] So we're going to have to rethink how we can use these spaces in a different way.

[00:24:58] Obviously, architects are always up for the challenge. That's our job. We like to think outside the box.

[00:25:02] We just like to partner up and work alongside developers that are willing to let our creative wheels spin every once in a while.

[00:25:10] But yeah, they're fun processes to be a part of.

[00:25:13] I throw a curveball at you, okay?

[00:25:15] Yes, please.

[00:25:16] It's my understanding from research over years that attorneys are the least likely of all professions to build their own house, meaning to construct, build from scratch.

[00:25:27] That's because they know exactly what they're worth per hour and how many hours it takes to go into a new construction build.

[00:25:33] It's my understanding that architects are the second least likely to construct their own house.

[00:25:37] That's because they can dream up way bigger things than what their money could ever spend.

[00:25:42] What say you?

[00:25:43] It's fair. Our money doesn't go as far as maybe attorneys would or others.

[00:25:49] But that said, I do live in a house that I did design.

[00:25:51] But the caveat is I probably limited my budget way too much.

[00:25:56] Everyone at a point in time thinks, oh, I'm just stretching it a little too far.

[00:26:01] And then five or six years down the road when you're in maybe a slightly better place, you're like, I could have dealt a little bit differently than I had up front.

[00:26:10] That said, I have no purpose to move.

[00:26:13] I love where I am.

[00:26:15] I love our neighborhood.

[00:26:16] He said, I'm in Prairie Trail up in Ankeny.

[00:26:18] I live next to a school.

[00:26:20] I got a one in elementary school where I get to walk them across the street.

[00:26:23] Life in Iowa can be pretty darn good.

[00:26:26] Yes, I did design my own house, but it's not what I would have normally designed.

[00:26:31] There's covenants and all that fun stuff that architects have to deal with sometimes.

[00:26:34] If I were to do this out in the woods somewhere, it'd probably look a lot different than it does on this suburban street.

[00:26:39] But yeah, interesting question.

[00:26:41] I don't do residential a lot.

[00:26:42] I say that and then I have to quickly say that I have helped my mother-in-law and my sister and my brother.

[00:26:47] Like I helped all these people with house plans and other things, but it's not really my main focus for sure.

[00:26:53] That's totally fair.

[00:26:54] Joe, you ready for the final three questions?

[00:26:56] Yeah, let's do it.

[00:26:57] One piece of advice that you'd give your 20-year-old self, what would it be?

[00:27:03] So I'm going to do the two-part.

[00:27:06] One's college age.

[00:27:07] What would I have done differently?

[00:27:08] One, I always showed up to class.

[00:27:10] It was ingrained in me really early.

[00:27:11] My dad was definitely a, you work hard for everything.

[00:27:14] Take advantage of every moment you have.

[00:27:15] The problem I had as a 20-year-old was I thought I knew everything.

[00:27:18] It wasn't until shortly after I quickly learned that you can't possibly know everything.

[00:27:23] And I wish I would have embraced a learning mindset a lot earlier in my career.

[00:27:29] People always think they're looking to the architect, or at least I thought this growing up, to have a solution for them.

[00:27:36] They're the ones providing the solution.

[00:27:38] And what I've learned over the course of my career is we're just helping navigate someone else creating a solution.

[00:27:45] Our job is to help them do that and not just come up with a solution for them.

[00:27:50] Listening better, assuming I don't know everything, is probably my answer to that.

[00:27:55] What I wish I could have told my 20-year-old self a long time ago is be more curious, listen more, learn more.

[00:28:03] Two books that changed your life.

[00:28:05] Oh, so I love books, but I'm one of those nerdy ones where I only read books about leadership or attempting to make yourself better.

[00:28:15] The beauty of those books, and I'm not going to tell you two, but I'm going to give you two authors instead.

[00:28:21] I love Simon Sinek and Adam Grant, and any of their books are fantastic.

[00:28:26] But having one of those leadership-type books always in front of me, whether I pick it up, read a chapter of it, set it down for a month, pick up a different one.

[00:28:35] At any one time, there's probably four books on my nightstand.

[00:28:38] And depending on my mood, I might read one or the other.

[00:28:40] And I think it's just the idea of reading those kind of books put me in a different mindset myself.

[00:28:46] Not that I have one book I lean on to say, hey, this was fantastic by Angela Duckworth.

[00:28:53] Great book.

[00:28:54] And I can pull chapters out of it, and I love it.

[00:28:57] And I love being able to put books in front of some of my staff as well.

[00:29:02] Hey, I think this one is going to be great.

[00:29:03] Someone did that for me a long time ago, and that kind of kicked off my love for just reading and consuming those leadership books.

[00:29:11] If you were cast away on an island, you could only get three pieces of data about your business each and every month.

[00:29:17] What three things must you have every month to know how your business is running?

[00:29:21] Revenue.

[00:29:22] So we do everything by tracking our revenue in the door.

[00:29:27] And the next thing is prospects.

[00:29:29] So we're always tracking potential projects, prospects on projects, and what that does for our bottom line every month.

[00:29:37] And the other is scheduling.

[00:29:40] That's one good thing to have revenue.

[00:29:42] But I'll tell you, we are a service industry.

[00:29:45] We're not just transactional.

[00:29:47] We have to provide a service.

[00:29:49] And if those things all happen at the same time, being able to manage the scheduling side of projects is really important.

[00:29:56] So we can get the right team put together for the right project.

[00:29:59] Timing is quite critical to do that really well.

[00:30:02] So I would say those three things from a business perspective.

[00:30:04] I would hope my family can be on this island with me.

[00:30:07] That would be even better.

[00:30:09] Absolutely.

[00:30:10] But business-wise, I'd have to do that.

[00:30:11] Maybe if I could stretch it and be like, hey, if I could have one more thing, I'd love to know how my Iowa State teams are doing.

[00:30:18] Right now, I feel like we're flying pretty high.

[00:30:20] So I'd want to definitely keep track of those guys and girls.

[00:30:25] It's been an amazing year all across the board at Ames.

[00:30:31] Yeah.

[00:30:31] It's a fun fall.

[00:30:33] It's tremendous.

[00:30:34] And hopefully that continues here all the way through the balance of the year.

[00:30:37] Joe, I've really enjoyed this conversation.

[00:30:39] And I've certainly learned some things about the architectural world that I did not know.

[00:30:42] For people who want to find you, they want to follow you, they want to connect with you, where can they go?

[00:30:47] What should they do?

[00:30:48] You'd think I'd be able to connect more being apparently on the cusp of being a millennial.

[00:30:51] But I'd say obviously oknarchitects.com, our website.

[00:30:55] Obviously, I'm on LinkedIn.

[00:30:56] You can find me, Joe Feldman.

[00:30:57] You'll probably read about my little Lego story.

[00:30:59] And Facebook, Instagram, I have them.

[00:31:01] Don't follow them that much.

[00:31:09] We'll put the links below in the show notes for everybody.

[00:31:11] Joe, I sincerely appreciate you taking the time to connect.

[00:31:14] Love it.

[00:31:14] These episodes are fantastic.

[00:31:16] I love listening.

[00:31:17] Keep it up.

[00:31:18] Thanks for listening.

[00:31:19] If you're enjoying the show, may I ask a favor of you?

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[00:31:43] Visit Investing in Iowa to fill out an application or recommend a guest.

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[00:31:54] Click on the Invest With Us button in the top right corner.

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[00:32:01] Until next time, keep investing in Iowa.

[00:32:05] Thank you.

[00:32:05] Thank you.