0:02 - 0:23: The episode begins with the host, Dan Cooper introducing the episode, which will dive into integrating real estate into business, referring to it as "the thing below the thing."

0:24 - 1:01: The guest, Mike Farag, owner of Fervor Marketing, is introduced. Mike explains that Fervor is a full-service marketing communications agency for Christian nonprofits, helping them grow and articulate their stories.

1:01 - 2:00: Mike shares his background with Fervor and his involvement with the Acumen community, highlighting how it has benefited him and his business.

2:00 - 2:31: Dan transitions to discussing Mike's new venture into real estate, asking about his motivation and the strategic thinking behind it.

2:31 - 3:35: Mike talks about the importance of diversification in business and how he and his wife started thinking about real estate as a way to diversify their income stream and solve issues with finding suitable meeting spaces for their business.

3:35 - 5:09: Mike elaborates on his dissatisfaction with bad meeting spaces and how this led him to consider owning real estate to create a better environment for strategic meetings.

5:09 - 6:13: Mike explains how buying a piece of real estate became an opportunity to both diversify and enhance the experience for his team and clients by creating a dedicated meeting space.

6:13 - 7:07: Mike reflects on the unexpected value of having "roots" in a physical location, even in a hybrid work environment, and how it has positively impacted his business.

7:07 - 8:25: He describes how clients from across the country now prefer to use their meeting space, sometimes even without directly meeting with Fervor, which has strengthened long-term business relationships.

8:25 - 9:05: Dan prompts Mike to explain what makes a good meeting space, leading to a discussion about the importance of technology, comfort, and environment in fostering productive meetings.

9:05 - 11:53: Mike shares details about the specific features of their meeting space, including high-quality audiovisual equipment, proper whiteboard setup, and the importance of controlling the meeting environment.

11:53 - 12:18: Dan acknowledges Mike’s passion for creating great meeting experiences, noting that bad meetings are often a result of poor environments rather than the people involved.

12:18 - 12:48: Mike introduces the Bonhoeffer, a new business concept birthed from his experiences and frustrations with meeting spaces. He mentions getting his wife's approval before starting this new venture.

12:48 - 13:46: Mike explains that Bonhoeffer is a rentable meeting space specifically designed for effective meetings, as opposed to traditional event or corporate spaces that don't cater to the needs of a productive work session.

13:47 - 14:01: Discussion about Acumen's consulting approach, including EOS and similar systems for team meetings.

14:02 - 15:27: Post-pandemic, many businesses downsized or went remote, leading to a need for flexible meeting spaces. Introduction of The Bonhoeffer, a purpose-built strategic meeting space with 1600 square feet, featuring a boardroom, movable tables, advanced technology, and fully stocked amenities.

15:28 - 16:03: The space includes a shared kitchen, commercial coffee, and three bathrooms to accommodate meetings comfortably.

16:04 - 16:35: The Bonhoeffer operates as a separate business and has hosted various meetings for nonprofits and clients.

16:36 - 16:59: The benefits of The Bonhoeffer include investment diversification, strategic fit, and additional income opportunities.

17:00 - 18:04: Advice on real estate investments: it's harder than expected, and seeking wise counsel is crucial.

18:05 - 19:03: Explanation of cost segregation, which accelerates depreciation for tax benefits.

19:04 - 20:59: Discussion on commercial real estate challenges, including higher costs compared to residential properties and navigating loans and bank requirements.

21:00 - 23:03: Personal experience with distraction from main business due to real estate investment and the importance of having a supportive team. Overview of the building search process and unexpected challenges with environmental studies.

23:04 - 24:34: Reflections on the advantages of owning commercial real estate despite higher costs and risks. The decision to invest again and lessons learned for future investments.

24:35 - 24:46: Advice for real estate investments: ensure it aligns with business goals, manage time effectively, and rely on trusted advisors.

24:47 - 27:33: Bonus question on how Mike stays sharp and inspired: having mentors, peers, and mentees.

27:34 - end: Information on where to find Mike Farag and his businesses, including Fervor Marketing and The Bonhoeffer, online at createfervor.com and thebonhoeffer.com. Promotion for Acumen membership and resources at acumenimpact.com. Closing remarks and gratitude for the conversation.