Episode 320: 06-11-15
On this week’s show, Larry Zinn discusses how driverless cars will impact us, Dr. Dipen J. Parekh tells us about a new prostate cancer test, and Jim shares his thoughts on the Miami apartment market.
Larry Zinn, general manager of Warren Henry Land Rover, Range Rover Infiniti and Jaguar, comes on the show to discuss the new Land Rover Discovery Sport and the new Infiniti Q50. We also talk about Warren Henry’s new showroom on Biscayne Boulevard just south of Aventura and how driverless cars will impact our lives.
Our special UHealth guest is Dr. Dipen J. Parekh, who will talk about a new prostate cancer test screening that replaces traditional biopsies. More than one million men have a prostate biopsy each year in the United States. The majority of these biopsies show either no prostate cancer or low-risk cancer, meaning the biopsy was unnecessary.
It is hot, and the roads are quieting down – somewhat. Summer is here. Listen to Jim’s hot Miami apartment market report.
Episode 320: 06-11-15 (To download, right-click and select “Save Link As”.)
Feature photo courtesy of Sam Churchill on Flickr.com.
Announcer: 880 AM: The BIZ; South Florida’s only all-business station welcomes you to Fried On Business. He grew up in South Florida has been in business here since the early 1990’s, and has closed over one billion dollars in deals. He’s seen it all—he always has an opinion and he’s always ready to share it. Informed, entertaining, and connected, he has his finger on the throbbing pulse of South Florida’s business community. He’s Jim Fried—exclusively on 8.80 AM: The BIZ. To talk to Jim and his guest, call 305-541-2350. That’s 305-541-2350. Now, here’s your host Jim Fried.
Jim Fried: Alright South Florida, we’ve got another edition of Fried on Business and it’s got some great stuff today. We’re going to talk about the future of driverless cars with Larry Zinn, we’re also going to talk about Larry’s new location he’s got coming up on Aventura, we’re going to talk about the Infinity Q50 and we’re going to talk about the discovery sport, and I’ve got to tell you at least three friends have gotten cars from Larry in the last month and a half—Larry’s smokin’, he’s got those cars rollin’, and I’ve got to tell you I’m probably going to get a new one in a couple weeks too, G, for my wife. Then we’re going to get UHealth, we’re going to talk about a new prostate cancer screening method that’s going to eliminate a lot of the invasive biopsies that guys have taken for a long time, we all know what the biopsy does so, this should be good stuff. And then at the end, I’m going to talk about the Miami apartment market—stay tuned…the apartment market, the condo market, and we’ll even talk a little student housing—that sector is on fire! You’ll hear why after we come back after this break, we’re going to have Larry Zinn, the future of driverless cars, the impact it’ll have on our society, and some hot models that Larry’s selling that my friends are buying—right after this.
(Song: Pitbull ft. John Ryan: Fireball)[commercial]
Jim Fried: Alright everybody, if you know you’re looking to buy or lease a car like all my friends and me it seems like this month, if you’re looking to buy or lease a car you want to get every advantage you can—I know I do. That’s why you have to check out Warren Henry Land Rover Range Rover Infinity and Jaguar—they’re all exceptional cars, they all come with the Warren Henry advantage, and that means complimentary dent repair, key replacement, first service, and a personal assistance that you can call for anything you need anytime for four years. Always the best price, always the best service, always Warren Henry.[commercial]
Jim Fried: Hey everybody as we get older, we’re all at risk of developing cataracts but the new laser cataract procedure co-developed at Bascom Palmer Eye Institute and the new high definitions that they’ve got over there, you could be seeing near, far and everywhere in-between in no time. Call 305-243-2020 to schedule your consultation. Trust your eyes to the best, Bascom Palmer’s been ranked the number 1 eye hospital in the country for 11 years in a row by US News and World report—visit Bascompalmer.org or call 305-243-2020 to schedule your consultation today.
Introduction: South Florida’s only business radio station: part of the Wall Street business network. 880 AM, the BIZ.
Introduction: You’re listening to Fried on Business. To talk to Jim and his guest, call 305-541-2350. That’s 305-541-2350. And now back to your host Jim Fried.
Jim Fried: Alright we are back and we are with my number one dude in the car industry—the guy who keeps me honest about what’s going on in the car industry, and now a guy who’s moving his show a little closer to me and his customer base—Larry Zinn, Welcome bro. D, You’ve got to push the button. Did you push the button Derek? Larry I gave you such a great ramp-up, I can hear you now.
Larry Zinn: Alright, we seem to have sound issues every time I call you.
Jim Fried: Well that’s because D, the guy is running the board, D, I think you know him, Larry, I don’t know what’s going on over at your stores but I got D, bought a car and I got Jason bought a car, and I got Vivian texting me that on Saturday, I’m buying a car too.
Larry Zinn: Oh, she texted me too. I’m ready to go.
Jim Fried: Yeah I know, well listen, that’s my wife so watch yourself. Now Larry, tell me a little bit about the changes that are afoot up at Warren Henry, you know it’s a big family auto dealership, you do a lot of business here in South Florida—what’s up, where are you moving? I read about it in the paper, heck, I was involved in the deal. Tell everybody what’s happening.
Larry Zinn: Well, just recently we’ve announced that we’re going to be moving our main campus: Jaguar, Land Rover, Infiniti over to 151st and Biscayne at the new Sola Mia project, which is something that’s really really exciting for us.
Jim Fried: Oh, I think it’s awesome, it brings you closer to me at least, I’ve got to believe a lot of your customers are all fired up about this.
Larry Zinn: Oh absolutely, we’ve gotten a great response so far, and trust me, we couldn’t be more excited to be over there. As far as where our customers are, where the most registrations come from for us, and in being closer to other luxury dealerships. That’s where we need to be.
Jim Fried: Well Larry, the other thing that you’ve got is your proximity to something that’s being developed by guys I know you do a lot of business with, the Turnberry folks, the Stoeffer family, you know, anything that they touch is always high quality, so I’ve got to believe you’re show room and the facility in the surrounding area will be nothing short of spectacular.
Larry Zinn: Everything I’ve seen so far Jim…it’s going to be pretty incredible what’s going to go on there. The development, the construction…everything that’s coming along is going to be really really…it’s a special opportunity for us, it really is, and I couldn’t be happier to be going over there.
Jim Fried: It’s going to be awesome, and hopefully you’ll have the ability to have state-of-the-art collision repair and stuff like that so you can even trust Peter again with the cars.
Larry Zinn: (laughs) Unfortunately he’s lost his car driving abilities forever. But you know, we’ll get past that.
Jim Fried: Well that’s what big, large, chauffeur-driven Cadillacs are for. Rather Infiniti—what’s the big infinity truck that my wife wants to get? What’s that big one?
Larry Zinn: The QX80.
Jim Fried: There you go, that’s what we need for Peter. That and a seatbelt.
Larry Zinn: Yeah, it’s a serious truck.
Jim Fried: Yeah, it’s a serious guy, and listen, I’m thinking about, I was having my car, I’m thinking about getting that big truck. Because you know I went up to Atlanta, I leased a big truck like that, and I was flying all over the highway…it kind of slows me down and helps me think a little bit.
Larry Zinn: It’s nice, it’s comfortable, you can fit anything you need in there, and then some.
Jim Fried: I think so.
Larry Zinn: You know, great for tailgating.
Jim Fried: Oh yeah, well hey! Tailgating: let’s talk about that for a minute. Dolphin season’s upon us—you fired up?
Larry Zinn: I’m always fired up for Dolphin season.
Jim Fried: I figured that, that was just red meat for you. So, listen now, I’m driving down the highway the other day, this beautiful Q50 drives past me, looks like it’s just, you know plain jane little something and I guess the person put the afterburner on it and the thing just went (revving noises) and I couldn’t see it anymore. What’s up with that?
Larry Zinn: Well, right out of the box that’s a pretty strong car, you know. 328 Horse power. It’s like someone taught me today, it’s a Q-ship. Once they come to the surface you take them out.
Jim Fried: I love it, well Lar—my friend Jason went up there, he’s gone up there now a couple of times, I guess once to test drive and once to close the deal. Closing the deal took him less than an hour, which, I think speaks highly of the best price guarantee and the way you guys do business. He’s getting the Discovery Sport, now I went up there with my wife, I drove the Discovery Sport. I wanted it for her, she wants a little more room, you know, she’s got all her lady stuff, but for Jason, my god. Perfect car.
Larry Zinn: I mean that’s the target for that vehicle. Young professionals, tons of utility in that car, great amount of space, I mean the back seat of that car has as much space as a full-size range rover when you have the seats all the way back. It’s really impressive what they were able to package into that. And also, if he wants to go off-roading a little bit, the car’s great for that too.
Jim Fried: Well he was bragging about the fold-down room in the backseat, I did remind him that he did play at least high school basketball and perhaps he needs to find a facility to accommodate him better than that backseat but you never know. And I do know that he does like to go to Ocala National Forest and off-road. So I’m sure he’s excited about that. He was telling me that he needed to get a rack for his hunting trophies and I said that means you need a gun rack too and I said, “But that ain’t your style, is it.”
Larry Zinn: I’m certainly going to help accessorize and make it look as best as I can.
Jim Fried: Listen, I know the two of you are buddies and I’m sure that it’s going to come out and look absolutely smokin’ because it’s about time that the two of you guys were able to do something on your own. And I think it’s marvelous that he’s made some great commissions, and I think it’s absolutely terrific that he’s breaking out the real world vehicle stuff like that. Now Larry, I talk to people a little bit, I touted that we were going to talk about driverless cars. I assume that normal, well, wait, I was going to say “normal person,” but we know that’s not true. I’ll say, an average person? No. I’ll say this, as a person who reads the popular press I’m thinking, all I’m thinking about is driverless cars—you get behind the wheel and the only impact it’s going to have on me is that I’m not going to get into an accident, I’m going to be relaxed when I get to work. Then I read these futuristic articles—they talk about the impact will be: fewer parking garages, fewer people buying cars, the manufacturing business going on the top of its head—sounds to me like that’s a rabble-rouser. What’s coming down the pipe with this stuff Larry?
Larry Zinn: You know, I read the same stuff that you do Jim and it’s a little bit of everything. If you think about if all the vehicles on the road were driverless cars or they became more popular, you’d no longer have taxi drivers, you’d no-longer have uber-drivers, bus-drivers, and that whole industry, all those people employed—that would certainly disappear. But beyond that, I still think even though the technology is there for driverless cars I think we’re a long way away from everybody on the road having one. Not to mention the legalities behind what’s going to happen if someone gets into an accident with a driverless car. So I’m driving my car and I crash into a driverless car. Who’s fault is it?
Jim Fried: Well I don’t know. I guess we’d have to…I couldn’t say.
Larry Zinn: You know, and if I’m riding in my driverless vehicle for example and the vehicle needs to make an emergency decision because something unpredictable happens, which as we all know, does happen during the daily course of driving with other people on the road making poor decisions. So if the car has the decision of whether it’s going to drive into a ditch and potentially harm the occupant or crash into the back of a school-bus and potentially harm a group of children, which decision does the car make? You know, those are the type of things that I think still haven’t been answered. And then also, who is liable in those situations?
Jim Fried: Wow.
Larry Zinn: Is it the car? Is it the manufacturer? Is it the occupant of the vehicle? Is it the owner? Whose fault, ultimately, are these situations?
Jim Fried: You know, it’s really hard to determine, in everything I’m reading, you know the Google guy always goes, “The only accidents in 65 Billion miles of driving the driverless cars is when somebody rear-ends us when we stop at a stop-light,” I mean come on.
Larry Zinn: Right, I mean I have a difficult time believing that. I mean there have been some great tests that were done recently. Audi has a vehicle that they drove from, I believe Silicon Valley to Vegas for the Electronics Convention, and that car went the entire time with somebody sitting in the driver’s seat but driving on its own. So it’s there, I just don’t know how ready we are for it in other senses. The technology is going to happen. For the most part, many cars that are on the road already have the majority of these technologies but they don’t have—put everything together. So once this is totally out there it would be great for me in the morning to sit in the backseat of my car and read emails and get work done and not have to be upset about the people that are driving 20 miles per hour in the left lane in the express lane.
Jim Fried: Larry, nobody does that!
Larry Zinn: Of course not, this is Miami, everybody drives perfectly.
Jim Fried: Correct. Come on, man, give everybody credit out there. And I personally never get aggravated in traffic and I make sure that I have absolutely no café Cubano, Gatorade or any other stimulant before I get behind the car, knowing that I need to protect the rights of the other people on the road just like every other driver here in South Florida.
Larry Zinn: Oh of course, especially when it rains.
Jim Fried: What, is it raining or is that just the Sahara Dust out there? Anyway Larry, hey listen, this has been great. Can you stick with me for another segment?
Larry Zinn: Sure.
Jim Fried: Awesome, well we’re going to give this to the newest Infiniti owner here, for another week…oh no you bought the Range Rover didn’t you D? You bought that, yeah.
Jim Fried: Yeah thank you, we finally got D to talk, you see that? I like that laugh. Okay go back to work that’s enough, thank you. So he’s all excited, he’s got a couple days for being the person that’s bought a vehicle from Warren Henry, and then my wife and I are going to go out there and, I don’t know, it’s going to be between the Infiniti and the Range Rover. We’ll be back after this to discuss the benefits of both and how Larry’s going to close me on my new car. Stick with us, this is going to be great stuff. D—it’s all yours.
Jim Fried: Alright, my baby said she needed me! She’s been texting me the entire time that not only does she need me but she needs Larry on Saturday to close the deal with Warren Henry on your new deal and hey everybody, when you’re lookin’ to buy or lease your car, you’ve got to get every advantage you can get, and that’s why you always have to check out Warren Henry, Land Rover, Range Rover, Infiniti and Jaguar. Each is an exceptional car, they all come with the Warren Henry advantage and that means complimentary dent repair, key replacement, first service, and a personal assistant that you can call for anything anytime for four years. So join me as part of the Warren Henry family—always the best price, always the best service. Always Warren Henry.[advertisement]
Introduction: This is the Wall Street business network, South Florida’s only business radio station:. 880 AM, the BIZ.
Introduction: You’re listening to Fried on Business. To talk to Jim and his guest, call 305-541-2350. That’s 305-541-2350. And now back to your host Jim Fried.
Jim Fried: All I can say is Holy Cow, I’m going. I’ve got to get me some of those Marlins sandals. I’ve got to add that to my collection of goodies that I’ve gotten from the Marlins. That’s awesome. You know, go over there, have a great time, it’s a super time. I know that my wife at the beginning of the season asks me when we’re going, every Saturday night I look and, pretty much most every Saturday night my wife likes to go. And while I’m talking about a couple of things, we’ve got Larry holding, we’ll be right back to Larry. I did want to give a shout-out to my friend Hank Klein. Hank used to be Codina Bush Klein real-estate, so you get a feel for who Hank is, Hank gave me a call today out of the blue, he had a stroke a little while ago, we’re going to have him on the show coming up, probably in the next couple months when he publishes his—he’s publishing a book. But I wanted to give Hank a shout-out because Hank, he called, he didn’t have to do that, he told me “good luck on the show,” and made me feel like a million dollars. So I want to say thank you to Hank Klein. Hey Larry are you back out there?
Larry Zinn: I’m here.
Jim Fried: Awesome, well listen. While we’ve been on break I’ve sold three more cars, I got three more texts, Roz, her boyfriend, and Tiffany. We call her boyfriend “The guy from…” no I can’t say that on the radio. Anyway we call her boyfriend something we can’t call on the radio. So Roz, her boyfriend, and Tiffany, three more clients, Vivian’s out there pounding the pavement for you Larry. What’s going on? Is it end of the modeling year? Is it summertime? How come everybody buys a car right now?
Larry Zinn: Well we’ve got a great summer sales event going on, that’s a really nice thing. But it’s a good time of year to be buying a car. Right now the average age of a vehicle on the road is at its oldest point ever, so there’s really a lot of pent-up demand out there. And from what the industry is saying this could be the biggest year in automotive sales really since before the crash.
Jim Fried: Well you know then let’s talk about that for a second because I know that a lot of people out there got their survival jobs, they sort of made it through the recession, it’s a topic I’d kind of like to bring up with you Larry because most people don’t really know about this. My mom, she made a good living for 20 years selling cars and leasing cars, and it’s a career where I meet the guys at your office, they always seem to be pretty positive and jumping around, and guys like that, people, men and women, make good money up there don’t they?
Larry Zinn: It’s a good career, of course you get out what you put into it, but it’s a very respectable job and certainly affords a lot of opportunity for the people who come aboard.
Jim Fried: Now, the people that join the Warren Henry family and work either in the showroom, or service, or up in the administrative staff, I’ve met them before they spend—they’ve been with you a long, long time. How do they feel about the move over to North Miami?
Larry Zinn: So far everybody’s been really really excited about this Jim, and this has been something we’ve been working on for several years now but now it’s finally starting to come to fruition. And I think everybody realizes the change, and the positive effect that it should have on our business once we get over there. And beyond having new state-of-the-art facilities, just having great traffic flow on that street every day. We’re right down the street from an elementary school, a high school, a middle school, a college, and being surrounded by what’s going to be great retail shopping and apartments. We have a really special opportunity and I’m so happy once again to be a part of this.
Jim Fried: Now what’s your favorite part of the new physical facility? I know that you’re going to be thrilled with the location, and I’ll just say right here, I won’t make you say it, you have a lot of restaurants up there too, Larry.
Larry Zinn: Yeah, absolutely. That’s going to be a nice change of pace as well, some really great restaurants over there.
Jim Fried: Now, what’s your favorite physical plant part, are you going to have like a really gassed up waiting room, more service base, I mean, what have you got planned? What are the newfangled things that you and Warren have for me that I’m going to walk in and go “Holy Cow!”
Larry Zinn: Well a lot of it’s still in the works Jim, and what I’m really excited about too is having a parking deck with indoor parking, so all of our inventory will be inside a parking deck, you don’t have to walk out and get sweaty walking out in the sun or anything like that. That’s something I think is really great. But other than that, the facilities will all be state of the art, the waiting areas will be great and comfortable, and a much larger service departments and show rooms.
Jim Fried: Now tell me a little bit about why people like Jason buy the Discovery Sport. You know, young people, first luxury car, because you know I sat in it, it’s like a rocket ship, it’s like my living room—lots of space. Help me out here.
Larry Zinn: Well, it meets a lot of needs for a young professional. Beyond getting good gas mileage and being stylish, you know the Land Rover brand really carries a lot of weight right now, which is a great thing, it’s very popular but it’s reasonably priced, it starts at 38,000. It can have up to 3 rows, which it’s the only car in its class that can have that availability…
Jim Fried: Comfortably?
Larry Zinn: USB connectors in every row, it’s a really great car. Once again, I couldn’t be more impressed by the way they packaged it. They really knocked it out of the park on this one.
Jim Fried: Now Larry, one of the things that makes automobiles affordable and that people can achieve their dreams with is the financing packages. People are talking about, “Interests rates are rising, credit’s starting to tighten…” How is your finance and the F&I department, actually that’s where I first met you—how are they dealing with the clients when they come in, if the client has a little bit of a credit problem or something, can people get finance there?
Larry Zinn: Oh, absolutely. Auto loans right now are, I guess, they’re at their longest term from what I understand from around the industry but they’re also performing better than they’ve ever performed. Regardless of which tier. A lot of banks are really confident in this field because they understand that people have to use their car to get to work and people typically make their car payments before they make any other payments because they can’t afford not to have it. But to answer your question, there’s still some really low, really aggressive rates out there for top-tier credit, and even on the lower levels a lot of banks are trying to be aggressive, trying to get as much business as possible.
Jim Fried: Well, I do recall that during the height of the recession when people were being foreclosed left and right they still kept their car payments. So car paper has probably the best rating of any of the commercial paper that’s out there. Now, Larry, let’s talk for just a couple minutes, we’ve only got two or three minutes left, I want to talk about what you and Floyd are doing in the community—what have you got for Floyd Rag, what are you guys doing this summer, it’s got to be some really good stuff.
Larry Zinn: You know Jim, I wish I had my calendar in front of it to go over it, we’ve got a lot of great things happening in regards to different charities that we’re working with and other events. We have this rowdy event coming up on the 20th. We partner with this group called “Neurotag,” which is a tuner group, and basically it’ll be a rally starting up in Broward and ending down in mid-town. And that’s going to be a pretty exciting event because we’re going to be all-different types of vehicles that are taking part. We’re certainly in the process of planning one of those cause charity events as well. For those who are not familiar with those, those are charity car shows that we put together. We get all sorts of vehicles and motorcycles and food trucks, and everybody takes a portion of those donations of the money that comes in and we give that to the Wounded Warriors Foundation.
Jim Fried: You know I went to that last year up at the Calder shopping center, I guess it was, amazing. Great cars, great people. And when you come to mid-town and the event ends, you’d better make sure that you’ve got me on speed-dial because you’re welcome to our house. Go swimming, have dinner, whatever you want, kick back and relax, I know Miss Vivian would love to see you. And by then, I’ll have my new vehicle, it’ll be awesome.
Larry Zinn: Hey, sounds good to me, Jim.
Jim Fried: That’ll be awesome. Well Lar, we’ve only got about a minute left, so if someone wants to get that best price guarantee, they want to become a part of the Warren Henry Family, they want to take advantage of the summer specials and the great financing that’s out there, how do they find you guys?
Larry Zinn: Well you can always find us at WarrenHenryAuto.com, reach us at 305-690-6006, or on any of the social media @WarrenHenryAuto.
Jim Fried: Well Larry, I can’t wait, I know where to find you, you’re still on 441 for another few months. I’m going to be up there Saturday. It won’t be a live appearance as a live remote, but it will be me and my pen, signing for my new vehicle. Whatever Vivian wants, Vivian gets. I can’t wait to see you Saturday, Larry.
Larry Zinn: Hey, Likewise Jim. Thanks for having me today.
Jim Fried: Thanks for being on the show, thanks for sponsoring, and thanks for taking care of me and my wife for the last, gosh, 20-something years.
Larry Zinn: My pleasure, Jim.
Derek: And Larry I must say—
Jim Fried: Hold on, hold on, D wants to talk!
Derek: Thanks for everything Larry, you took care of us, my wife is very happy and that makes me happy.
Larry Zinn: It’s certainly my pleasure, I appreciate that.
Derek: I appreciate all the courtesy, the vehicles, they’re beautiful, I love it.
Larry Zinn: Perfect, that’s what we like to hear. If you ever need anything, you know I’m around.
Derek: I’ll come to see you.
Larry Zinn: Alright Hey, I’ll talk to you soon.
Derek: Alright, thank you.
Jim Fried: I couldn’t say it better myself Larry! See you in about 36 hours!
Larry Zinn: Sounds good.
Jim Fried: Alright, we’ll be back after this, D has got his fingers on the right stuff, we’ll be back after this, we’re going to talk new ways to test for prostate cancer so a invasive biopsy can be hopefully avoided, I know I don’t want a biopsy down there. So we’ll hear more back after this.
(Song—Walking on Sunshine)
Jim Fried: Alright, alright! We’re walking on sunshine, but when I’m walking on sunshine, that’s one thing, but when I’m driving, I’m always driving Warren Henry. Hey, when you’re looking to buy or lease a car you want to get every advantage that you can. That’s why you have to check out Warren Henry Land Rover Range Rover, Infiniti and Jaguar. They’re all exceptional cars, they all come with the Warren Henry advantage. That means complimentary dent repair, key replacement, first service, and a personal assistant that you can call for anything any time for four years. So join me as a member of the Warren Henry family. Always the best price, always the best service, always Warren Henry.[Advertisement] [Traffic Update]
Introduction: You’re listening to Fried on Business. To talk to Jim and his guest, call 305-541-2350. That’s 305-541-2350. And now back to your host Jim Fried.
Jim Fried: Alright, we are back and it is time. It is time to talk about UHealth. And that is the University of Miami Health System. They bring us the brightest minds and best care right here in South Florida. And UHealth is big, it includes 300 specialty doctors in dozens of locations from Long Beach to Miami Gardens, and now UHealth is in plantation. What sets UHealth apart is the comprehensive they bring to healthcare. You might have several doctors for a couple of different health issues, but do they ever talk to each other or cross reference your symptoms and medications to make sure your care is second-to-none? Well at UHealth they do. More than collaborative care, UHealth is powered by the University of Miami’s Miller School of Medicine where research, clinical trials bring state-of-the-art treatments to our community every day. Seriously, folks, these are some of the best rated hospitals in the country. You can learn more about UHealth through the—
(Taking Care of Business starts to play)
Jim Fried: Way to go D, you messed that up, you messed up the Marlins show but you did thank Larry so I’m going to go ahead and give you a pass. You can learn more about UHealth through the UHealth discovery series now online at UHealthdiscovery.com. Focuses on different departments, doctors, and patients that make UHealth great with breakthrough discoveries that are changing healthcare for the better. And keep listening, because we’re going to talk about some of the breakthroughs they’re coming up with about prostate cancer right after this. To discover how breakthrough medicine from UHealth can work for you call 305-243-4000 or visit UHealthdiscovery.com to learn more today.
(Song: I Feel Good)
Jim Fried: Alright, I feel good like sugar and spice, and that’s because my prostate is doing great. We’ve got Dr. Dipen J. Parekh, Dr. Parekh, you out there?
Dipen J. Parekh: Yes I’m here Jim, thank you for having me.
Jim Fried: Oh no, thank you for being here, because I get these PSA tests, they say I’m ok, but some guys get the PSA tests and it goes crazy on them, then they get a biopsy over it and they don’t have any cancer at all, they didn’t need the biopsy, and sometimes the biopsy can have very lasting negative effects. So help me understand how somebody can avoid that.
Dipen J. Parekh: You hit the nail on the head Jim, so when a man has an elevated PSA, he automatically reports for a biopsy. And we do close to a million biopsies in the United States. However, only 25% of these biopsies show cancer. That means 3/4ths of the biopsies actually done should not have been done in the first place.
Jim Fried: Wow.
Dipen J. Parekh: But there’s no way to know which ones ones are going to be positive and which ones are going to be negative.
Jim Fried: So did you do a study to show like a correlation so we can have less unnecessary surgeries?
Dipen J. Parekh: Yes, we have a wonderful test, in fact we’re publishing our findings at several national and international conferences. It’s called the 4K Score. It’s a combination of 4 proteins which are found in your blood, and along with these 4 proteins, you also include the age of the patient. You include whether or not this patient had a previous biopsy that was negative. Once you have all this information, you put it into a calculator and it spits out a number. And that number gives a man his individual risk of the aggressive type of cancer. So, just to give you an example, let’s say you have Mr. Smith, who is a 58-year old who has a family and is at risk of prostate cancer, and just a PSA, which is just one value, it doesn’t do anything more than that. We do the 4K Score for Mr. Smith, and the 4K Score is 45%, or 50%, it means, you have a 50% chance that you have a high-graded risk of cancer. That’s a very high risk. And that’s why you should definitely undergo the biopsy. But then, in someone else, that 4K Score may be 5%. And we can tell them that look, your chances that you have aggressive prostate cancer, the cancer that can actually kill you or hurt you, is only 5%. And that’s why you’re ok to just watch and repeat the test six months to a year later.
Jim Fried: Wow, that sounds like an incredible improvement in the quality of life of a significant majority of the people that have this problem.
Dipen J. Parekh: That is absolutely right Jim, in fact, it will reduce, if you can imagine, unnecessary biopsy almost to the tune of 50-70%. And the upside is that you’re not missing a lot of cancers—not aggressive cancers. So you may miss a few non-aggressive cancers that are not going to hurt or harm you in your lifetime. Because as you know, only a few men will die only of prostate cancer. Most men die with their prostate cancer.
Jim Fried: Wow. Well then it sounds to me, not only are you saving lives, you’re saving money. I’ll speak like a bean-counter for a minute—it sounds like you’re saving American tax-payers a lot of money and I’ll tell you something else—it sounds like you’re going to improve the score of care quality at your hospital. Which is another factor in funding.
Dipen J. Parekh: That’s absolutely right, especially in the environment that we are living in, the healthcare environment, it’s especially a cost-conscious environment where we want to decrease costs and at the same time, elevate the quality of care that we give patients. So this test really fits right in towards that cause.
Jim Fried: Well Dr., how do people find you? How do people get over there? How do people get to you? Because it sounds to me that there’s a lot of men out there that need to find you and get this test.
Dipen J. Parekh: Absolutely, so we have a group of 5-6 urologic oncologists, that means my team and me on a personal level—we are specially trained to do only urologic cancer. That includes prostate cancer, kidney cancer, bladder cancer. We are affiliated with the University of Miami Sylvester Comprehensive Cancer Center. The best number to reach us is 305-243-4000 or, I’m going to give you my cell phone. 305-791-6676, and you can reach me, and I’ll be more than happy to help any man or woman in South Florida to fight their battle against any urological cancers.
Jim Fried: Well doctor, we have a lot of fans of the New York Jets that listen to the program, they can’t really write the number down all the fast, so I’m going to ask you to give out the general number—I don’t think we should give out your cell phone, but I’m going to ask you to repeat the general number again, and maybe you want to give a shout-out to a couple of the other doctors on your team.
Dipen J. Parekh: Absolutely, it’s 305-243-4000. And as I said, we have a very nice, very talented team of 5-6 urologic oncologists who only take care of prostate, kidney, and bladder cancers.
Jim Fried: Well all I can say is thank you so much for bringing this to our attention and bringing this high-quality care the way you do at UHealth. Bring all the high-quality care to our community, and I want to give a special shout-out to Madeline Gonzalez who helps us with all of our appointments and all of our visits to UHealth, I’ve got to tell you, go to UHealth, and if you can, make sure you’re a champion like my wife and I. Doctor, thank you so much for coming on the show. Dr. Dipen J. Parekh, did I get that right?
Dipen J. Parekh: Yes, you said it perfect. Thank you so much Jim, I really appreciate it, and thank you to all of your listeners for supporting the University of Miami.
Jim Fried: It’s our pleasure—thank you for making our community a better place. Stick with us—we’ll be right back, and when we get back they’re going to let me out of my cage and I’m going to talk about what I see happening in the multi-family market. We’ll talk condos! We’ll talk apartments! We’ll even talk student housing right after this—take it away, D!
(Song: Give Me Some Lovin’)
Jim Fried: Oh yeah, oh yeah, oh yeah, give me some good lovin’. You know who gives me good lovin’ when I go up there to buy a car? Warren Henry. That’s right, Warren Henry and Larry Zinn. Well done on that really easy downplay there, you really know how to do that D, you’re really having a great show today. You know it’s always good business to give their customers what they want. The Warren Henry family autodealerships, you know Land Rover, Infiniti and Jaguar, they know this, and that’s why they always give their customers more. Whenever I lease an Infiniti from them, I know I’m getting the best price because these guys guarantee it. Their best price guarantee is part of a best-price package benefits called the Warren Henry Advantage. The package includes dent repair, key replacement, first service, you even get a personal assistant that you can call for anything anytime for four years if you buy or lease—any new Land Rover, Range Rover, Infiniti or Jaguar from Warren Henry. And, if you lease—or rather you buy one of their pre-owned cars in either case, you’ll get the Warren Henry Advantage. Go out there Saturday, you’ll see me buying my wife a new vehicle. If you add in the exceptional service Warren Henry delivers, you’ll understand why they’ve been in business for over 35 years—3rd generation Larry was on earlier today. Always the best price, always the best service, join me as a member of the Warren Henry family—Always Warren Henry.[Advertisement]
Jim Fried: Alright everybody, get ready because it’s all me this segment, and all I’m going to talk about is the South Florida multi-family market, we’re going to talk about condos, we’re going to talk apartments, we’re going to talk student housing, let’s talk about how we got here. Most of us got here by plane, train, boat, or automobile, because not too many people lived here. And you want to know something? That ain’t slowing down anytime soon.
In fact, most of the people coming here today are really high end people with a lot of money and we’re building housing for them up and down the coast and out west in Doral, and in other places like that. So we got here because people want to live here! People want to live here. And now what’s going on is that the sights are becoming scarcer and scarcer. Scarcer and scarcer. You can’t find anything on the water left in Miami Dade County—unless you call me because I know where to look. But…people are now selling the skyline view. A couple blocks off the water in Brickell, you’ve got all these fancy deals—I did one there, Milicento just opened for the Releda group, they’re doing good—Brickell is popping, Brickell is happening, these things are getting absorbed. I talked to the condo guys. They’re hitting their budgets, they’re hitting their sales marks. Things are different but they’re still selling and soon they’re going to be closing, and I don’t think too many people are going to be walking away from their deposits, so if you’re out of the ground in a condo deal, I think you’re doing okay. If you’re not out of the ground, well, costs have risen. It’s going to cause all of your numbers to go crazy.
So condo guys, they’ve got some challenges coming up, but most of the condos that are up and out are going to be made, they’re going to make, they’ve got great deposits, they’ve got great financing, they’ve got a capital stack that makes sense, people are closing on them, so I think the condo market is going to be good, however, we’re delivering a lot of condo product that doesn’t really match with the people that live here, so what’s going to happen? I think you’re going to see a lot of roommates pop up. People can’t necessarily afford, on their own, these fancy condos on the water or in Brickell, they want to be out partying or having a good time or close to their jobs, but hey, they could split it with a friend. And we’ve got a real young-viber community living in those places. They’re going to split ‘em with a friend. How do I know? Because, I live in a gorgeous rental building right now, and a lot of the people have unrelated roommates. I think the trend will continue—you’ll see longer people staying with their families, so that will also help, and a lot of these people are going to move into condos in a few years.
And, one last thing, we’re building about 7,500 condos, a lot of them are already absorbed like, 3,000 a year. I think it’s going to be just fine. And now let’s talk about apartments. People go, “Well, they’re building stuff everywhere, there’s going to be a shadow market with apartments, there’s too much supply coming, blah blah blah blah blah,” I go, we’re fine! People are putting the breaks on this apartment construction! Things are not as highly, you know, in the mix as some people might think. There are still incredible, incredible sights left for apartments, and by golly, the equity partners, they want to be here.
And when the equity partners want to be here, they call their institutional developers and those people go to work. I’m working with a number of people right now, I called them all this week to find out what was going on in their Bailey Wick, and their number of them are switching their focus from condos to rentals. The real interesting thing is that some of them are switching their focus to student housing. And you go, “Well, why? Why student housing in Miami? UM’s got student’s and stuff…” Well hey! If you look at the Gables Grand project just North of the University of Miami, you’ve got a lot of students in there. Parents pay, they put their students in there. Great place—right by the train station. You can get anywhere without a car from there. So other stations like that near the University of Miami, they’re thinking, “Hey, we’re going to rent to these UM students,” and they probably will. Won’t be purpose-built like we call ‘em, but it’ll be stuff that’s targeted towards the students. I think it’ll do great. Out by FIU. FIU North, they’re building student housing out there right now. Down South at FIU South, there are plans in the works to build lots of student housing but it’s not that easy. You’ve got a great opportunity down at FIU South, because you’ve got a big commercial district that they’re just made into University City, they up-zoned it. The problem is they didn’t condemn anything or do anything with imminent domain so you’ve got to go in there and negotiate with the landowners. Not too easy.
But I do know there’s a project coming out with 2016 delivery. High rise, going to be gorgeous. Things that they’re building for the students are just absolutely amazing. So let’s go back to the rental apartment market for just a minute, and let’s talk about what’s really going on. Because there is somewhat of a supply situation that is going to come in the multi-family market. But in location by location, there’s still incredible demand that hasn’t been met, and let’s talk about a couple of those. The health district. The health district, well if you go on one side of the river, by all the hospitals, you’re in the civic center area, you’re in the health district. Go on the South Side. It’s a secret there. The secret is, it’s really North-West Little Havana. If you go up by the Marlin’s ballpark up by what people see as the health district and you try to do something up there, you’re going to be renting to people that can get to downtown in five minutes, that can get to Brickell in 5 minutes, that don’t have to get on the highway to get to Edgewater or go party in Winwood, or go buy something fancy in the design district. And hey, they want to go out West to Dorel? Surface roads, baby. They want to go into Coral Gables? Surface roads. So there are opportunities and the place to be is Little Havana.
We had Frank Rodriguez Melo, but we had Frank who makes the market in Little Havana, he’s the president of the CCIMs. Frank talked all about it. I’ve been to events there. I’ve got to tell you, get in the car, go down to the ball and chain, have a beer, and watch the sun go down on the main drag on Little Havana, Kayode Show, right across the street from Dominos Park, you’ll be amazed at the beautiful feel you get. It’s like South Beach was just a few years ago. And so what do I see coming? I see an incredible opportunity in Little Havana to go out and really pick up some properties and take advantage of the proximity. I’m going to use that, I’m going to capitalize, and I’m going to shift gears on the word proximity.
We had—a couple of weeks ago on Mike Fey. Mike Fey called it the Theory of Donuts. I call it the Theory of the City-State. Either way it doesn’t matter, what it means is that every little neighborhood’s becoming vertically integrated. We’re going to have offices, hotels, retail, you won’t have to leave. Doesn’t that get you excited as you’re sitting there pounding your way up 95 to Parkland from downtown? You’re darn-tootin’ it does. Because now you can live close, work close, have school close—have a good school. Good work, great new building to live in. Sounds to me like that’s the way to go. It’s what you’re going to see is people moving closer to work—closer to where they’ve got to be. Why? Because who wants to spend their life on the roadway.
The apartment market is healthy. Condo market is healthy. Student housing market is underserved. D,how much time do I have? D is in there talking to Larry. How much time do I have? Oh, I’ve got three minutes left? Then I’m going to give people the bottom line. The bottom line is that everybody thinks that rents have to hit $3 a foot to make the deals make sense. Well, if you’re not out of the ground yet, they probably do. Will they get to $3 a foot? Not right away, but they eventually will. They eventually will. And you say, “Well Jim, how the heck do you know that?” I know that because I did my first deal in apartment in the early ‘90s. It was up in Lincoln point and Aventura. I had to convince the out-of-town investor that they could get a dollar a foot in rent. Then, the next time the cycle came, I did a deal down in Dayland, it’s called Tuscano now. I had to convince the guy that they could get $2 a foot in rent. Well, they did.
Now, I’ve got clients coming to town and they’re going to build smaller units in great locations by your work. I closed a deal right across the street from Miami city, from the Swire City Center project in Brickell. This project will take the advantage of all of that but they’ll have smaller units. That deal? It’ll get the $3 a foot. It will. So people are concerned about the market. I’m really not. There may be somewhat of a pause, but I think that’ll be good because the pause will create a situation for absorption to happen, for a stabilized execution to occur, and I personally believe that everything is pretty Hunky-Dory overall in the apartment market. And you know who agrees with me? The most important people, the equity partners. You need an apartment built? The equity guys are out there.
Hey, I want to thank everybody for being on the show. I want to thank Larry Zinn for coming on the show, giving us a full front-end half hour, talking about driverless cars and the new deals that he’s got up there and allowing me to thank him for helping all my friends up there—I’ve got like 5 different friends that bought cars, I’m going up there this weekend to buy my own. So now we’re going to go down the run-down of thank-yous. I’m going to start with KIND Snacks and South Florida Business and Wealth Magazine, the CCIMs, UHealth, Warren Henry Automotive, the NFL Alumni, the Miami Dolphins, my gosh, what a great list of sponsors, I am the man. Social Media 305, the Miami Marlins, Lauren’s Kids, the Aztec Group, the University of Florida Center for Real Estate Studies. The Bergstrom Center. UHealth. Magnum Energy Solutions. Most of all, I want to thank you, my listeners. Because without you, I’d have absolutely no show. I’d just be sitting here and D would be bouncing us back and forth, but I’d have no purpose over here except to give D the business. Now please go to our Facebook page and like our show and tell your friends. Join our community. Did I say thank you to the Miami Dolphins for sponsoring? I think I just did. Join our community, give us feedback and comments. Tell us who you want to hear from. You can tweet at me, Jim Fried at the show @FriedonBusiness. I’m on Facebook learning how to use that pretty good right now. LinkedIn, I’m getting to be an expert on that. Youtube, ah, not so much, I’m having a hard time converting my videos. Website gets lots of hits all the time, join us and contribute. If you missed today’s show, it’ll be up on our web page as soon as D gets it to me. This is Jim Fried for Fried-on-Business.
Look for us next Thursday at 6 on 880 AM, we’re going to have Sid Feltenstein on, my gosh, that’s going to be awesome. Sid is the top guru—make it longer or make it faster? Make it faster? Remember, this is not a rehearsal, this is your life. The person who wants to do something finds a way! I do this because I love it. The other people find an excuse. Now go out there and make it happen. D, it’s all yours. Thank you so much!