Apartments Syndication | Nitzan Mosery

Today on The Josh Bolton Show, we welcome Nitzan Mosery, who will discuss Apartment Syndication. How to approach the commercial property industry. The outlooks. In legal structures needed to start your own apartment rental and cash flow for the future.

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Transcript

Unknown: 0:02

mic stand broke some. I'm improvising right now. Hey, at least you're making it work. Right. All right. How's that? Can you hear me? Oh, much better. Yeah. Okay, great. Great. Great. All right. Here we go. Doing great. Yeah, by the way, Wendy, she's freaking fantastic. You she gets she should get a raise. Yeah, she's, she's fantastic. She is. She is. We've had a lot of success. And it's funny she she living in dating my nephew. So that's how I know her. Oh, interesting. Okay. Yeah, keeping it in the family. Yeah, it's always good. And he's far enough removed is not actually working family. So if shit goes sideways, it's okay. Right? Exactly, exactly. I told her she ever breaks up with her with a boyfriend not to take it out on me. Yeah, yes. Very good, very wise decision to say that. So let's get right into it. Wendy was telling me you are a permanent investor. Right. So how does that work? What is like, what's your approach? So, you know, first of all, we find the right market to invest in, right, we look for a market that for me is easy to get to I live in South Florida. Okay, you know, an area for me, it's easy to get to an area that has a lot of job growth. Okay, that's actually a very good point. I didn't hear that. Okay. Yeah, that's like, that's kind of the holy grail for, for my business, it's got to be job growth, right, you got to be in a market that has a lot of job growth, so that it can sustain the appreciation and, and the value that we want to add to the property and increasing rents and have enough people to come in to rent space from you. Right? You know, and then we find, you know, once we find the city, then we go into the path of progress, we look where the city, you know, where the city is building and, you know, improving the infrastructure and where people are moving to. And then we reach out to brokers, and we tell them, this is the area that we want to buy in, bring us some good opportunities. And once we find an opportunity, we'll we'll run the numbers, do our homework, do our due diligence. And then once we put the property in the contract, we'll start reaching out to our investor base, and we'll start raising capital. And we close on it we bring a property management company in there. And it Yeah, it's profitable code. Do you only invest in Florida? Or do you go out of state to know out of state most of my stuff is out of state it's, it's in? You know, we have in Texas, Oklahoma, Georgia, South Carolina and North Carolina. Okay, yeah. I recently from a podcast ad invested with fundrise and a lot of the projects they have me and is Texas, so that's where I was just asking because I've never seen a Florida one. I'm like, uh, I don't know if there's a full investment opportunity, at least for us. Simple guys. Yeah, Florida is tough. There's a lot of competition. It's a tight market, you know, here in South Florida. Not making a lot of cash flow. Right. You're right. Basically your your income or your your profits on appreciation. So So with the tax you for appreciation? Well, they tax you for everything. Well, yeah. But I mean, is it extra there? Well, you know, the appreciation is when we sell the property, right. Oh, okay. That appreciation and the profit and then you know, we pull that profit out distributed to the investors. You know, there's minimal cash flow going on in South Florida, is because the prices are so high. Yeah, I would, I would think so. Because with this cat, Greek, California Exodus, they're all going to the places you were mentioning, Texas, Colorado, and all that. Which I just find funny because they're leaving California but to bring into problems with give it 10 years, they're gonna be California too. Right. Right. And that's what we tell a lot of these new yorkers and and Northerners when they move into Florida, it's like, Look, you're moving to Florida for a reason, right? Because where you're at sucks. So don't come here and bring your things and you know, and screw it up for us Floridians. Right We like you know, we like the freedom we like the nose, no state income tax, we like all that kind of stuff. That's something you know, don't come in with your Bs and stop making, you know, messing things up for us. Give it 10 years, they're gonna totally forget that conversation, then it's just like we we need more unemployment. Right. Exactly. Exactly. So then what is what are basic sites? Maybe some of them you have to pay a premium that normal people wouldn't, but what are some sites that you look at to find property sites, or sites or people you call? Yeah, so I call you know, I built relationships with brokers. Right. So Different brokers in different markets that we deal with multiple brokers, I also build relationships with people that are boots on the ground, that are other investors that may not have the wherewithal to raise all the capital or have the track record or the cash or the net worth, or what not to help take down the property, but they're in the market that I want to invest in. So they'll go out and they'll do their homework, they'll pound the pavement, find the owners find the properties, do all the due diligence, and when they find a gem, then they'll bring it to me, and we'll work on it. So, you know, those, those are the two best places that I've found to be very successful, you know, websites, you know, like loop net, or you know, any anything like that. It's good, but I wouldn't, I wouldn't necessarily buy the properties that are on those sites. Because you know, if you're a good broker, new listing a property for you even listed, you'll throw it out to your 1020, you know, great investors that will always buy from you, right, and then that doesn't pan out, then you'll list it, and you'll blast it out. And then if that doesn't pan out, then you'll put it on a website. So if you're going to a website, you know, probably the brokers network of buyers kind of turned it down and didn't want to buy it. That's why they're listening. So that it's the this is like, indeed, job posting, it's like the we have no other choice but to put it here. Right? Exactly. Yeah, I've, I've been trying to get a different job. And it's every time I get on that site, I'm like, I noticed like 90% of time, it's just a scam. I shouldn't even try. But, but so I have a question for you. I had another guy on earlier for apartments that sort of super excited when Wendy mentioned it. What is your approach for forming corporations? Do you do an sp? Or just a holding company? Yeah, so each property, the lender is going to require you to create an sp a single purpose entity to take ownership of that property. Right. So and then. So you have that, and then you have another LLC for the managing members. So there's two LLCs, right, but one that takes control of the property, and then the managing members that manage that asset that manage that entity, which owns the owns the property. So for every asset, we have an individual special, you know, a purpose entity built and they usually LLC is just very easy to work with. Yeah, it's whatever state you're in you just like LegalZoom. And or if you got a guy on the ground, you just call him up and be like, Hey, I'm doing this. He gets right on it. Right. Yeah. Usually our our sec, our Securities and Exchange Commission attorney that creates the ppm and the subscription agreements and all that they do the operating agreements, and they formed the entities for us as well. But they're, you know, it's one stop for it's well worth paying a premium to them every month. Oh, absolutely. Absolutely. Yes. So for a commoner like me, who's not an accredited investor, how would I approach you and be like, hey, I want to invest in your company. But I don't make the 200k a year and have 100k just sitting around? And I think, what would be something you would recommend to them? Well, so there's two, you know, there's, you have the accredited investors, and then you have the sophisticated investors. Right. So what you just were talking about more than the accredited investors, right? You have the income, the net worth and blah, blah, blah, sophisticated investors are people that don't have the income, or don't have the net worth, however, they've invested in the stock market, they have Bitcoin, they've, you know, maybe have a rental, you know, single family duplex something, they they own their own business. So that's why they're called sophisticated. Right? Okay. They understand the nature of the beast. Right? So we're allowed to take up to 35 sophisticated investors and an unlimited amount of accredited investors. Okay, so then how would that work? Let's say, is it per SPE? Or is it just for the whole holding company? Yeah, no, for every every property, you're allowed to bring in 35 sophisticated investors right now, there's certain different offerings, right. And I always get these confused. You know, there's the plat, there's the reg D reg, B, A, whatever it is, but basically, there's, there's, you know, we deal with with two, we have, you know, there's one classification, one offering that is strictly accredited investors. Right. So with that, when you're doing that one, I can go out and I can meet you today. And if you're an accredited investor, I can bring you into a project that I'm working on now. The other offering says, Well, I can only bring in 35, sophisticated investors and again, on the unlimited investors accredited investors that I want, however, with a sophisticated investors, I have to have a, a pre existing relationship with you. Okay? That's a tricky one, though. That's a tricky one, because the SEC doesn't actually define what a pre existing relationship means. So, you know, our sec attorney tells us look, you want to have when they say pre existing relationship, it's not that you meet a person today, and you don't talk to them for six months, and then you send them a project that you're working on, want to be able to show Hey, Hawaii, you and you had a conversation with them, that you're talking to them that you engage with them that you know them a little bit, because the point is, is that you want to understand this person, you want to understand their investing criteria, you want to understand their income, because the last thing you want to do is take somebody take somebody's last dollar and invest it now if they lose this money, then you know, they have no other income, they have no other money to live on. Right? That's kind of what the SEC wants to protect. They want to protect what we call, you know, the person on the street, right, which is just a mom and pop somebody who's not accredited, not sophisticated, from investing with you, not understanding the investment, not understanding the risk. And then, you know, this is an investment just like anything else. So there's a risk of losing your money. So they want to protect these people from getting into something that they don't understand. No, absolutely. And that's one of those. Like, I was studying the market when the crash happened back in February, sorry, March last year. And it was just one of those. I realized a certain point, I'm like, well, do I have to have like $50,000 just to like, get into the stock market. Then I realized, Oh, wait, it's the I got to bootstrap it. I have to monitor it more, but I can come in. And that's one of them. When I was looking at properties, I'm like, well, stocks are smart. properties are even smarter. Especially if all this money printing is really smart. It's, but then that's where I came into the accredited investor problem to like, Oh, we won't touch you unless you make like 200k a year and have 100k just sitting around for no reason. Like, why don't have 100k to just burn for fun. Right? So you got to look at the offerings that that will bring in a sophisticated investor. And you got to have a pre existing relationship with this person. Right. Right. Okay, that makes more sense. Because like, when I applied for one of my, the online broker for property, yes, so many intimate questions. Uh, Mike, this is creeper even in the banks. Yeah, yeah. So, you know, we have to protect ourselves, we have to protect our investors. This is an investment it's a risk anything is a risk opportunity for you know, that there is a chance that you that you lose your your investment. And we, you know, myself as a syndicator, someone who's put these projects together, you know, I don't want to take your last dollar from me, I don't want to have someone like that in our investment pool because God forbid something happens. You know, like, God forbid, there's another pandemic, there's another shutdown and we lose the property and, you know, you lose your money and then, right, that's, that's, that's a scary situation to be in. So, you know, we want to make sure that first of all, we're taking care of the property because when we take care of the property, and we could take care of the investors and when we take care of the investors and everybody's happy, and you know, really got to be in a position that you can invest and so that you can sleep quietly at night and not worry how soon to lose your clothes your car or anything like that. Yeah, and just the little bit the nature of the beast with the if you get a margin call with the bank. That's that is not a fun ride. We saw that back in an await Absolutely. So then let's go into that real quick. Do a crash. How did you were you in the market at that time? I was I was in Israel at that time and Okay, he's in Israel. Okay. So then how did our crash affect you? Well, you know, so the crash so what happened you know, during that time, right, so properties here in the US dropped over 50% right the values just plummeted. You know, we live in a big country that a lot of land there's a lot of property there's there's a lot of everything. Israel is a very small country, it's the size of New Jersey, even smaller than the size of New Jersey. Yeah. Right. And there's a lot of people, Jews and non Jews that move to Israel that love Israel that that want to be there right? It's the Holy Land. It's it's the birth of all three main religions in the world, right Judaism, Islam and Christianity. So a lot of people are constantly moving there. And there's there's more amount of space. When the market tanked, here, in Israel that kind of dipped a little bit, it didn't go flat, like it went here, it just kind of dipped a little bit, wrote out for a little while, you know, it was, you know, a year or two, three, and then it just started climbing back up again, because a lot of people were fleeing their countries because of the crash. And we're coming to Israel. So property prices are starting to go up again. And even now, you know, during the pandemic property prices continued to go up. Because it's such a small place, and there's not a lot of room to build. Yeah, now there's a lot of skyscrapers going up, there's a lot of buildings that are going up rather than out. Yeah, you almost have to do it like China, where before they were building nice, flat, big ones. Now just everything straight for the moon. Right. And then in Oh, nine, I moved to Florida from Israel. And I got started, you know, fixing and flipping houses and wholesaling, because that was the lowest hanging fruit in Florida. And then once I saw that kind of start to dry up, and more people come into that field that really didn't know what they were doing. I was looking to position myself and gain cash flow, passive cash flow, right, because I'm one of those lazy people, I don't like to work a lot. Work hard now. So you don't have to later. Exactly, you know, do you know, do it once? Create something once and then have it feed you forever? right? Correct. And so that's when I started getting involved in multifamily and growing, I bought a four Plex, then I flipped the 27 unit property, then we got involved in 150 units, and 172,000 to 24 to 40, and so forth and so on. Right, and you start building your product, you know, your portfolio. And at that point, you know, we I started, I'm still getting phone calls from brokers now, and I saw you bought this property, would you like to buy this one? Hey, you know, you're looking to sell this. So once you start that ball rolling, that's when it gets fun, because now people are seeking you out rather than you seeking people out. Yeah, no, that's that's ultimately what will you want to get to in anything business? Life, it just gets to the point, you don't have to keep hitting the ground. Now. They just they're like baiting you. Mm hmm. Right. Right. So for the my first time when you were saying the multiple layers of duplex the like 202 160. So I'm assuming every time you add a number on top of the apartments, it adds a massive amount of value that you have to cap with a loan. Right? Right. Yeah, absolutely. You know, long, you know, the price goes up, the loan goes up, everything goes up. So would it be rough estimate? I'm not trying to be accurate. But so like you said you had 100 unit? So would it be fair to say be about $10 million property? Yeah, so we bought a property in Greensboro, North Carolina. epi, I would say September October that that timeframe of 2019 bought it for $9.8 million. I was close, I was only off by like a quarter of it. But that and we bought it for a great price, because it was a 2001 construction. Oh, that is a really good price. Yeah. And now I'm getting offers for you know, around 12 point 5 million. I want to say I would part with it if they could hit 15 or more. Right. So you got to look at them. You got to look at the market, you got to look at you know your your comparables, what people are, you know, what other properties are selling for? So we're the one of the youngest properties in the area, aside from the actual new ones that they're building, or the ones that are already constructed our you know, mid 1980s 1990s. And they're selling for more than what, what we bought it for. So right at that price point does jump. So is it for property value, the newer stuff, I would assume it actually be more valuable because it's newer material and all that. I wouldn't think old because just even time decay in general with time. Everything depreciate. So it's, I would assume that the new one is actually the bigger price. Right? Right. Okay, the new ones are the more expensive ones right, but better amenities. Like you said, you don't have to deal with a lot of repairs and maintenance because it's new. The the interior design of the units are more updated right back in the 60s and 70s. They were smaller units. More walls everywhere, right. The kitchen was blocked off. Nobody wanted to see the kitchen. Nowadays designed. It's a more open floor plan right? The more open you are the better it is. Yeah. Yeah, I remember visiting one of my aunt's house and randomly they're just a wall in the middle of nowhere in the kitchen. I'm like why is that there? Was the person like drunk or something when they builds like we're gonna build a wall right here, man. Right, exactly. You kind of question what the architects were thinking when they were designing these buildings. Yeah, it was, it was super rad. It was like a three by six. And I'm like, there's no, there's no like use for this. Why is he here? Exactly, exactly. So yeah, so all that adds to the value of the asset. Okay. Right. Obviously, you know, newer windows better, right? new new construction material. You know, with the older properties, you're going to find a lot of plumbing and electrical issues, right? window is not working. Right roofs are, you know, getting old and need to be replaced. So there's a lot of a lot of that app x capital expenditures, right, the repairs and maintenance that you're going to have on the older properties that you may not have, or that you won't have on newer properties. That's true. Yeah. So you were mentioning property manager earlier, I'm gonna try to tie it into this. So I have a buddy that I do martial arts with, he's a property manager, but he does not do repairs. So I'm assuming your property manager, managers will charge you a little bit of an extra premium, but they will actually do the repairs, right? Well, you have a maintenance person on site. So there's, Oh, interesting, okay, there's, you know, it's an employee, right. So you're paying somebody for maintenance. Now, depending on the size of the asset, right. So for, you know, a 10 unit property, you may not have a maintenance person on payroll, it just doesn't make sense. So you'll have, you know, vendors that will come out right, a painting crew, somebody, they'll take care of drywall, or a C or roof or something like that, that you'll call when, when there's an issue, right. But for the bigger so that you have an onsite property manager, now, for the really big assets to 300 units, you'll have an on site property manager, you have a leasing man, you have a leasing agent, maybe you have an assistant property manager, you have a maintenance guide, corridor. So you know, you'll have a whole team. So it all depends on the size of the property that you're that you're dealing with. Yeah, no, I never really thought about it, when you get to the bigger that would be like the skyscrapers, right, the 200 plus units, when I say skyscrapers, but you know, you can also have garden style to floor apartments that are just spread out, you know, across several acres of land, right. The more of this city in the downtown cities, yeah, you'll have the you have the buildings that go up. But when you're going to the outskirts, the properties are laid out more spread out. So are you more of like a just a residential apartment? Or do you also get in like full on warehouses too. We don't do warehouses. We have my partner and I we have a hotel? in our portfolio, we have a glamping resort. My family and I we have several office complexes, as well. But my core business is multifamily. That's where the consistent cash flow and everything is. Yeah, that's that's it's it's the it's the beast that we know. And we contain easily. Yes. It gets a little out of hand. It's like no, no, no, not today. Right. Exactly. And so then, with the while you that you got a lot of property, I'm trying to figure out what question for each. So for the the commercial, the offices and stuff like that. How is you just call your brokers again, right. Yeah, yeah. So you know, so the offices and whatnot. I'm not looking to do especially now since the pandemic and, you know, the whole the whole business structure, business life office, life has changed drastically. I'm not saying that it's not going to come back. Everything is cyclical, right? Yeah. Eventually, can years and 10 years from now people forgotten. Five years from now people have forgotten. So they're going to go back to offices, they're going to go back to working in an office and so forth. But right now, you know, we're not looking to buy office space. That doesn't make sense, right? It makes sense if you're a fund or a wreath and you have $100 million in your in your account. And you know what, it's okay, if we buy an office building, and not cash flow for the next five years, that's okay. Because in five years, when we go to sell it, the appreciation will be there and we can dump it will be great because we're buying it at such a low price. That's not our business model, right? Our business model and what our investors are accustomed to buying a cash flowing asset that is a an apartment complex because people need a place to live in a good market. And in a bad market during a pandemic. And when there's not a pandemic, right. People always need a place to live. If you're buying a property conservatively enough, you can pretty much outride any type of situation, any type of downturn, you know, crash and whatnot and then come out the other end and continue to you know, occupy and increased rents and cash flow. So that's kind of that that's our business model. Right? It just so happens that, you know, like with the hotel in the glamping, these were one off deals that, you know, were great opportunities. But we went in and we took ownership, but it was too good of a deal to pass up on. Absolutely. So then for I want your perspective, because you you did it on it, but you would do with something else. The overarching trend, I agree, we're, at least for the next two, three years, office is not going to be the cool thing. But do you think in general, there's been a huge secular shift in commercial properties like that? Yeah, absolutely. I mean, even in major cities, you know, you know, years ago, you're looking at New York City, for example, right. New York City is was like Rome, right? Back in the day. Yeah, Rome was the place, they built the Colosseum, they had the gladiators. That was the place, right, that was the most modern city in the world. You know, everybody was like, wow. And the thing with New York, right? New York was replaced to be for everything. Now you look at New York City, and it's hurt. No, it is by the drones. Buildings are being boarded up. Is it a good time to buy, it's a good time to buy as long if you have enough capital to be able to, to hold off and wait until the cycle comes back? Yeah, that's a very deep pocket game. Right? Exactly. You know, if you can do that, yeah, you'll you'll make, you'll make a ton of money. There's always going to be people that are going to want to buy and all these people are going to come in the next generation, and so forth. But right now, it's it's it's changing the whole landscape of commercial and office spaces is changing 100%. You know, I even saw it change when you know, when the internet came on, and computers and all those right? Before, you know, before we had cell phones, and the internet was just we're just popping in websites for being Oh, website, oh, my God, you have a website. Oh, my God, that's so incredible. We were renting off that we were renting, you know, 10,000 square foot office spaces to these companies. And they were lining the walls with computers. And they would have 100 people sitting in their offices, with the massive computers and screen, and just plugging away doing all these things. Now, at all those offices have condensed to, you know, a fraction of that. knology because of what because we have the cell phone because things are just being condensed and moving. So you, you have to be able to pivot you have to be able to be flexible in your business and see the trends, see where it's moving. See what where it's going and pivot yourself so that you're not left behind? Yeah, yeah, that's one thing. Because all my co workers at the current job of Matt, they're like, Oh, this is great. Blah, blah, blah. And I just looked at him like, we got three, we got about 8 trillion ish, just printed out nowhere. I'm like, you think no, inflation is coming? And Mike, you have a mic. You should have used your money invested in rates or stocks, because it's going to be a sudden, painful day when you realize, wow, this brutal I used to pay 40 cents for now. It's like a buck 40. Where did this come from? It's like, well, he'll ask for it. That's right. Yeah, absolutely. You got to put your money, you got to put your money so that it can make you money, right? That's, that's the secret of the wealthy, right? leverage, leverage your money, put your money in so that it can work for you, right? We're always taught, go out and get a job. get educated, get a job, spend your 40 hours a week get paid, right. So basically, what we're doing is we're exchanging our time for money. My time is extremely valuable, right? Correct. So I need to figure out how I can go and make my money works for me. Go out, I send my money out. I say go out and come back with friends. Yes, I'm back with as many friends as you can. And let's go do it again. That's the secret of the wealthy. leverage your your money, your energy, your your your skill sets, everything. Yeah, one thing everyone's starting to realize, like I'm actually picking up stuff they're like, but they've all said like you're promising Come on, like, for now. I gave it a year or two, I'll be fine. So they like if we had to read two books, just two books and figure out where you're at. I'm like to Mike, Richest Man in Babylon and thinking grow rich. Like those are like the two if you're gonna read a book that will set you on the right path, you'll be ahead of pretty much everyone. Absolutely. Absolutely. The great books they are. And that's where people like, oh, they're old and like, yeah, they're old, but they're timeless rules. They're laws. They're not going anywhere anytime soon. Exactly, exactly. There. These are laws, the universal truths. You know, it's something that is that will never be outdated and You know, many people write books just restating the same thing. I've noticed that as I've read different books, I just I'm like, wow, this sounds a lot like Richest Man in Babylon. Like, other than the real estate investing part. Dave Ramsey's saying exactly the same thing, get rid of your debt, save 10% of wherever you make. But then he's like, invest in real estate. It's like, Okay, well, he didn't say that. He just said, make your your children make children kind of thing. Right? Mm hmm. Absolutely. Yeah. That's why and I've been always looking I myself, I've been looking to write several books. And I've always said, Well, what am I going to write about? You know, the, the, the Laws of Success have been written 10 times 100 times over right and different variations. So the the universal laws of how to do business and how to create wealth. They are what they are. Put out, you know, yeah, but I would say for you, because you have such specialized knowledge and corporations and brokers in that. See, like, even the other apartment guy had he, he never even went to, to this much of detail to I would go just write a book specifically for that. For the, you said the non accredited with specialized in history. Show me this sophisticated, I'm gonna have to remember that. So radio specifically for them. It's like, Hey, here's a play by play book. It'll take you a little longer, but you can actually get to me level kind of thing. I would gobble that up in a heartbeat. That's a good idea. There you go. Because it's like, it's the I'm not giving the keys away to the kingdom. I'm just pointing in a direction do this. And you can achieve my success. Right? Absolutely. Yeah. Everybody has the we all have, you know, we all talk about equality and being equal. And that's like one of the big things now and yeah, the whole country, equal equal equal. It's not about being equal. It's about having equal opportunities about all of us being able to do the same thing. It's just who's going to take who's going to step up to the plate and do it. Right, right. All have, we all want to be equal at the starting line, we all want to have the same starting line, right? The same opportunities. But not everybody is going to reach the finish line at the same time in the same way in the same fashion. Right. So it's all about it's all about taking action. It's all about getting started. Doesn't matter where you are in life, and what position and what neighborhood and whatnot, or what you know, how much money you have in your pocket. You know, you can scrounge up 10 bucks, 15 bucks and go by thinking grow rich and get your mind, right. And when you got your mind, right, then you can go out and do anything you want. Then all opportunities are available to you. You just have to go and pick. Exactly. And everyone aspires right. Oh, it's like you. You're only rich. If you're like Jeff Bezos, I'm like, Nah, that's like a freak accident. He got there kind of thing. Right? Well, look, look, I mean, okay, so let's talk about basis. Right? He he started out just selling books. Exactly. Amazon was was was a platform to sell new and used books. And look what it turned out to. That wasn't even his plan. Right. I think I think he said at one of his older interviews, he's like, I did have more plan, but not this much more. Right? And then look at Elon Musk, right? He started PayPal with his brother. Now he's launching rocket ships. He's got like three companies. It's insane. You know, how do you run money that he made in pay pal? He invested in Tesla, he took all this money that he made in Tesla put it into SpaceX. Yeah. But then he has his third one, the boring company, but I think that one, they don't do much. But yeah, it's still like, first, okay, from your perspective, how do you run the three companies like that? I would assume you mean, I would say that's the hope. So then how do you go about vetting your team? How do you like look close? What are the qualities or tests they got to do for an interview? Let's say there's so an aspiring real estate guy that wants to work for you, what would be some of the tips and tricks like oh, you need to like wear a suit and tie or show up early kind of thing. So okay, suit and tie? Not Not necessarily, right. I don't care what you want. But you're so the way I do it is you know, it's kind of a puzzle, right? You got to look at your your company. You got to see, okay, what skill sets do I bring to the table? What do I like to do? What do I want to do in my business, right? What is my highest and best use in this company? Then I look and I show and I say, what parts of the puzzle Am I missing? Okay, I'm missing this, this, this, this and this, right? So if I'm looking for my real estate investment company, I'm on saying well, you know, I need someone who can underwrite someone who can be my Investor Relations. Someone you know, I need a CFO, I need property management team. I need attorneys on my team, right. I need someone who can analyze underwrite and and put out offers. So First of all, that's what I do, right? And I kind of make an inventory sheet of what I need, then I figure out, okay, who can help me who the people that I know and if I don't know these people, then I have to go out and look and and you want someone who is going to have the same mindset as you someone who is going to have the same values, the same goals, the same aspirations with you, in building the company, when I tell people that join my company say, look, we're a family. And as, as I grow, as my family grows, you grow as well, right? Don't expect that you're going to sit down and work for me and make me millions. And I'm not going to give you back, you know, any of that? Because my eyes Esther's wrong, right, right, that people that are working with you working for you, partners and whatnot, everybody's got got to reap the benefits, and the rewards are also going to go somewhere else, and then you're going to be left with nothing. Right? I've always said that, you know, I'm not the smartest or the sharpest tool in the in the toolbox. I need to find people who are smarter than me, and who know more in the area that I need them to fill in my business. Right. I can report years ago when he was when he was building the car company and whatnot. He was interviewed by a journalist and the journalist said, you know, you're not really that intelligent. Now, what do you know about running a business like this? What do you know about making cars, he goes, Well, I push the red button on my intercom. And my CPA walks in, I push the green button, and the auto engineer walks in, I push this button and my sales director walks in. I don't need to know all these things. All I need to know is who can I put on my team to help me achieve my goals, right? And then you know, those person, then you got to work with them to set goals and give them the tools and the system to help them achieve those goals. And then you got to understand how to manage people. That's kind of the number one skill set that someone's sitting on the top has to knows, how do I manage my people and keep conflicts to a minimum and keep them motivated so that they can go out and be their best? Absolutely, yeah, that's one thing as I've interviewed multiple people to say the same thing, just worded different, but the one so for you, how do you keep your morale that at least, uh, you know, up in your business? Because that's something I worked on with, oh, good, good. Make me really don't pay you later. Well, we reward them, right? We reward people for doing exceptional work. Okay, rewarding can be in many different ways. It could be, you know, taking an extra day off, you know, I want to increase your salary, right, we're going to do this for you, we're going to, you know, whatever it is, but what also what I like to do is I like to talk to my people and say, so, you know, if you if you were to get rewarded for accomplishing and excelling and exceeding, you know, my expectations, what would that look like? Okay, and I would hear from them what it would look like, because everybody's expectations and desires and needs are different, right? For example, one of my regional managers, they also own a property management company. So one of my nice, her cell phone was always flaking out on her right. And when I was visiting the properties, you know, she would show it to me shows, look, look, and her phone would just go berserk and very difficult to text and to talk and to listen. And she was complaining all the time. Now, I'm gonna do the regular cell phone, I'm not gonna buy her the hottest up to date, the three 4001 is just gonna chip away five $600 one, not even right, even less. Yeah, my phone, how much is that? Right? But that, that that show of appreciation creates more loyalty. You know, so for example, one day When, when, when I was visiting my property, she got a flat tire, we stuck on the road, you know, triple A came and they changed a tire and she came in she's riding on this little donut. And she lives about an hour away from the property. So I told her I said look, you stay on the property you keep doing what you're doing. Give me the keys to your car. I went 200 bucks. I went I got the tire changed for her. You know and she has like a three year warranty or whatever it is on the on the tire. I came back I said here you go. She was like oh my god, you did that for me? I said yes. Because I can't afford you could get another flat tire right? Right. And then not show up at the property and Natalie up but but I want to show you that we're taking care of you and your family. that builds loyalty that builds trust that goes you know, she wants to do more now for us because of that. So it's a little tiny things that you do for people that you know go a long way is sometimes it's even not the one that costs money. The one that you didn't even pay for the most meaning for the employees for anyone. It was like 100 bucks. That's, that's nice. But it was the action of you taking your time to go do that, for her meant the world. But like, first normal people say, how do you how do you price that thing? Well, that's the point. Right? Exactly. That just, it shows them that we're thinking of them, that we understand that they're human, that they're people, that things happen. And you know what, we as a company, we support you, and you're part of the family. And that's what I would do for anybody in my family. Yeah, we are, you'd go above and beyond, it's like, oh, you're stuck in the middle of nowhere, like, well, you're gonna have to give me a few to get to you. But I'm getting you out of there. Right. Exactly. Yeah. So then, with the mindset of like, the Ford and the teams, the how, what I was trying to allude to earlier with the vetting thing. So like a few CEOs I've talked to, they have this thing where like the lever book on the floor. And it's like, if they pick it up, they're there, they pay attention to detail kind of thing, or one of them, he does coffee, he takes him to break room shows him where he got, like, make them a coffee, and they're talking. And then at the end if they leave that, so if they take it back, he hired some kind of thing. Do you do something like that? Or is it more just right? So you know, I'll give you an example. We bought a property in San Antonio, Texas, and I went out there when we closed and I was walking around with the maintenance person. And, you know, I'm on the owner, I'm the boss, right, whatever it is, right. And we're walking together. And we're walking by garbage that was on the floor piece of wood, you know, kid threw a wrapper. And we're walking by, and I'm noticing that this guy is not picking anything up. I mean, walking with me, interesting. I'm the one that's picking this stuff up. And he's talking to me, and we're walking. So, you know, I immediately went to the property manager, the onsite manager, and I said, You're not gonna work for me? Yeah, if he knew two or three days in advance that I was coming, why didn't he go and pick up and make the property liquid? Why is it that I'm when I'm walking with Him? Right? He's not picking up the garbage as I'm walking with Him. There's something wrong there. Right? Well, yes, you know, we always do things like that, you know, we're always looking at, at the type of person and what they're looking at versus what we're looking at and how they do things. Right, okay, the property manager, if I'm walking around my property manager around the property, and I see him or her picking things up as we're walking along, okay, they understand and they see it. But if we're walking along, and I'm the one picking it up, I'm going to have a conversation with them. Like, really? what's what's going on here? If this continues this way, I'm gonna have to go. Right, obviously, you're not concerned with the things that I'm concerned about. You're not looking at the property the way I'm looking at it. And if you're not, then there's a there's a disconnect here. Right? Like, I agree with the rubbish on the grass while you're walking. That's terrible. But like, I knew a guy he completely freaked out if this like one corner that no one would ever see was raked out from Lee, it's it's like, dude, even for me, it's like, the customer is not going to see that kind of thing. But it's like for you, I would totally understand where it's like the business, just the details kind of thing. Right? It? It's always in the details, right? God is in the details, devils in the details, whatever, however you want to say, right? It's all those details. Because the details is what makes it work, right? When somebody walks into a new unit when you want to lease and they're looking and you've got paint spots all over the place. I mean, the painter did a crappy job. So you got to get rid of that painter. Right? If so it's the little tiny things that that make a huge difference in everything. Right? Yeah, I mean, think about it. A little stupid little comma, little comma can make a difference between$10,000 $100,000 and so forth. Right? Yeah, that happened to me. Once that little comma, I was sending a wire for $10,000. By accident, I sent $100,000 with a comma, zero, I immediately call the bank immediately, right? It's that little details that you got to pay attention to. Now, if you're not a detail oriented person, which is fine. He's got to have somebody on your team that is detail oriented, but they can look at the details and they can pick that out and they can say hey, you know what, look that I wasn't dotted. That comma was in the wrong place. That letter was misspelled that word was not in the right place. Those numbers aren't correct. That spreadsheet is off. Got to do that right? details, especially when you're when you're running an investment business. And you've got numbers, CAS numbers, you got to know the details. You definitely need to know your math even unless you always have like a computer calculator on yours. Like, you've got to know your math. Absolutely. So essentially Cuz you brought up something I was gonna mention what but you went right into it. So let's say an aspiring company, great strategical thinker, very macro. But because he's very macro, he or she, they don't see the micro will that would be the where you need to get the, like, either of co founder or whatever to join you. That's the annoyingly nitty gritty. Absolutely, absolutely. So, you know, my business partner and I, that's why we work well together. I'm the macro, she's the micro. Okay. Awesome. We, you know, I move the business forward, I kind of give it the direction I, I deal with everyone, and then on the big picture, whatnot, but then she looks at all the details, right? Especially when we're buying an asset, you know, the numbers, the documents that, you know, the spreadsheets, all that stuff. Interesting, okay. So then, was this this, like a former partners, like a person you knew, or just through a friend of a friend, you found her, we went to the same networking events, we say, when purchasing real estate conferences and whatnot, we kept seeing each other at the time, she was living in Miami, and I was living in Boca, and I told her, I said, Look, you know, it's kind of stupid, we're probably going to be going after the same properties, we're going to be, you know, competing against one another. And the only people that are really going to win when we compete against each other as the as the owners of the sellers, because we're going to bid the prices up and up and up and up. And, and at the end, they're the ones that are going to win. So why don't we combine forces and then together, we'll probably be able to achieve a lot more faster. Know that very smart. Instead of trying to fight your enemy, mutual agreement, join with them and even become allies. It's even more smarter approach. Absolutely. So then, for that, how did the How did the agreement happened with you to for us, like, you're the big picture, but she's the nitty gritty. It was just personality strictly like you knew that's what she needed to do. Yeah, so you know, I, you know, from hearing the questions from from listening to her at the different conferences, and the questions and whatnot. You know, I understood that she was a lot smarter than me in, in spreadsheets and excel and all that. And, you know, she has a double Master's in economics, international economics, right. Wow. She, she, Brainiac. Yeah. Right. So that's why we, I went after it, because I knew she was a person on my team that I needed, because that was something that I was lacking. Okay, so then is she just what is it like you're the CEO, and she's like CFO, or like president or both? You're both C suite equal? Yeah, we're both equal is just, you know, she kind of takes a different part of it. And I take a different part of it, right? We just kind of split the pie and say, Okay, this is what you take care of, this is what you take care of. Okay. Yeah, that's very, very understandable and agreeable in general. So then, wow, I'm like, I'm running out of questions, because like, you've hit it so precisely on what are recent projects? Now you're going into with the COVID kind of thing? Like you were mentioning all the Texas in that, but is it more duplexes? Or is it actually just neighborhood tracks? kind of thing? Yeah, so so what we're doing now is we're looking at a lot of properties in that may have some government subsidies, you know, government, you know, assistance, okay. Just because people, you know, we're still in this closure, and not every state is 100% open, and there still is craziness going on. So to protect ourselves, we're looking at markets like San Antonio, Charlotte, right, these markets that are hot markets, we're looking for good assets that have a lot of value play in areas that are going to gentrify, and right now, these these assets that we're looking at, they have government subsidies, they have you know, housing assistance and so forth. So we're buying those with the intent of holding them for several years. cash flowing them, right, right. And then once we're all done with this pandemic, and with everything and everything starts to you open and things getting back to normal or people starting to go back and working full time and you know, things you know work the workplace is booming again. Then we'll look to probably, you know, get back to the same types of assets that we were buying before the pandemic but right now we're looking at properties that are either have the subsidies, the government subsidies, or that the tenant base are more professionals and that can work from home. Okay, there's another lockdown. It's okay because They're still going to be working. They'll be working from home, which they're already doing. Right. Right now, that's very smart. And like I said, you know, you always got to be flexible, you got to be ready and be able to pivot your business and your investing criteria to adjust for the market situation. Absolutely. Yeah, pivoting is key. We saw that back in 2020. So one thing I've been thinking about cuz you said government subsidies? Would I know it's more of a higher risk because the clientele would investing in actual like trailer park properties be a very smart move? You know, when parallel park I mean, if there's an upside to it, there's always going to be an upside to right. So the upside better on a trailer park, would it be to improve the trailers, make it a you know, give more amenities, increase the rents, maybe bring in more trailers. So it doesn't matter what you're, you know, what type of asset you're looking at is always, you know, by our business model, right, other people just want to buy for cash flow. Other people want to buy just for appreciation. So it depends on what your business model is where we buy for cash flow and appreciation. So we're kind of in between both, right down the pike, if you can raise rents, if you can add more amenities to add value to the property, and then in a few years, you can sell it for a profit, then yeah, go for it. But again, you got to look at your exit strategy, you got to look at what you're going to do with the property, you know, and what your business model is. So in general, because it's a very select clientele, usually lower income, it's not one of those, you can just buy it to intend to hike the prices, because then you'll lose half your clientele kind of thing. Right. Um, but but again, also you got to remember that when you're buying a subsidized property, and it's subsidized by the government, the government is, you know, you can ask for increase in rents, you just have to understand the, the process, you got to understand the timing, you got to understand how much can you increase the rents, okay, that when you're underwriting it, and you're, you're analyzing it, you're you're running real numbers are close to real numbers as close as possible. Right? You don't get the real numbers until you're actually in it, then that's when you hope your analyst is really good. And you're like, okay, right, right. Exactly, huh. Yes, Susie, and that was just one thing. I had a very strange offer. I was working for a construction guy. And he bought like, five, six trailer parks. He had to sell them due to divorce, a divorce. But he told me he's like, yeah, taking I don't even need to do this. I make enough off everyone else. He's like, I just do it for fun. Right? And that's where I was asking, like, how do I get in? How do I do it? And he's like, a little more complicated than just put your money towards someone and hope for the best. Right? You got to know what you're doing right? In this type of real estate, you're buying two businesses, right? You're buying you're buying the property, the land, the structure, the brick and mortar. So you have to understand that you have to understand how to add a inspected how to maintain it, how to keep it well, and then you're buying the the business, the rental business that's in that property. Right. So you have to understand both so that you can go out and be profitable. Yeah, no, I agree with that. So you being the property guy, there's a recently I noticed it, but it was one of those i didn't i don't know how to get in. I guess there's a raw land trend where you buy Apple land for cheap, and just hold it. Okay, I know it's probably not your full specialty. But how would someone go about that? Well, okay, so you know, raw land is is is difficult, why? They're all difficult. But like you said, right? Doesn't matter what you're buying, you got to know your you got to know your right, your product, right. So with land you have to go in before you buy, you got to look at where is it located? what's around it? What can be built? You know, what are the variances? What's the zoning? What's the code? What's, you know, is there water that is brought to the property already? Is there electricity that's brought to the property already? Do you need to bring that? If you're cutting down trees? How many trees can you cut down? Which trees? Can you cut down? Which trees? Can't you cut down? All that kind of stuff, right? So it's not just going in and then buying a building and then figuring that out? It's a lot. There's a lot more to it. Yeah, I have a structure already built on it. But yes, there's like there's a great play and land because yes, you can buy cheap, right? And then you can either build on it, you can sell it, you can lease it, you can do a lot of things, but you have to understand what your what it is you're buying. Okay, yeah, that's where like my martial arts instructor. He wanted to buy raw land in Fontana back in the early 80s. But he's like, oh, there's no one here and he's like, but now give me like 30 years. He's like, everyone in their mothers out here kind of thing. I told him like, well, it's one of those sit in Everly land is limited. We will the most remote area Do you think no one wants to live is probably going to be super valuable? Oh, yeah, absolutely. Absolutely, man, you have to look at the trends, right, you have to be able to see where things are going. It's a crapshoot, and most times, right, because if you're looking that far out, you know, things can change, right? You know, the whole economy can pivot the whole, you know, the whole area can pivot, the city can have a new mayor, or, you know, the council members may decide to go for, you know, in a different direction. So you got to, you know, you got to understand that as well. But again, if you're buying something conservatively enough, that you can pretty much always sell it for a profit. Right? You gotta you got to know what you're getting into. Right? You got to make sure that if somebody is buying, if you're buying a property, it's not in the middle of a lake. Yes. That really depreciates really quick. I listened to on this RV, the motor home once the while I told him put you that the water house once on a boat, then it would work in a lake. Right? Exactly. Exactly. The houseboat? Yes. Well, why did I totally miss all that? Um, so one thing I've been curious about, and I haven't been able to confirm, confirm this. I have a very terrible feeling with all this postponing of mortgages. Do you What's your what's your take on it? Because I told everyone I'm like, I think it's going to be one of those where instead of our every 10 years, this might be the catalyst to drive it a little earlier, because property matters. You got to pay their bills somehow. kind of thing? Yeah. Yeah. So you know, with this pandemic, that happened, right, so you had this eviction moratorium where the government told people, hey, you don't have to pay rent. But they didn't tell the property owners, hey, you don't have to pay your mortgage. Right? So we still have to pay our mortgage? How are you going to pay your mortgage, if the tenants aren't paying you? You got to go and you got to ask for what's called a forbearance where they forbear your payment for three months. And you know, then they divide those three months of payments into 12, and so forth. But it's it you gotta Yeah, that's it's a problem. Because now what's happening is after three months, now, you got your regular mortgage payment, plus you got 1/12 of three months mortgage payments on top of that. Yes, that can really affect your returns, it can really hit you hard. It can, you know, there's there's got to be careful with that. And it's one of those I've told people, Mike, it's one of those, there's no free lunch. Like that said, I think this what's going to happen is because they'd like you said they made it specifically the renders are fine. Never worry, you gonna think because it lists sadly, somehow survive all this? Well, they're gonna start hiking the price to make up for losses. And everyone has different areas, like they can't do that. I'm like, doesn't say that anywhere in the rules. They are business, they kind of make their money up somehow? Absolutely. Absolutely. Yep. I got to do it. So you get you've got a plan? Well, you got to plan well. And you always got to keep your thumb on the pulse of the property, the income, the expenses, right, you got to make sure that your team is working well. And that you're doing everything in your power to, you know, to cashflow the asset. Yes. Right. Give the give the residents a good place to live and collect rent. Yeah. And it's, it's so this is more of a little minor twist on there with the cash flow and all that there's the move to tax to quote rich, what how would that affect you as the real estate property manager kind of thing? Well, it's never good to just tax the rich, you're never gonna get you know, the government is never going to get what it needs just by taxing the rich, that's just not right. Right. Well, four years of Trump administration where we had some of the most tax cuts and tax break and the economy was booming. Right. You know, we we pay taxes to the government. And when we pay high taxes, that means that there's less money for us to go out and spend less money for us to spend. That means that the the, the service industry professionals aren't making money, they're not going out and spending it it's just a cycle that's just going to continue downward, right? So right axing the rich or taxing anyone is not good. And actually, you know, the, the middle class is the one that pays for everything pays for the rich pays for the poor, pays for everyone. Yes, and these people are the ones that are suffering a lot. So when you give tax breaks, that means you know what? gas prices are going down. restaurants, they're not charged as much services are going to say you have a lot more money coming into the market into the into the economy, which is boosting the economy. Right? Yes. So taxes, you know, it. I think, you know, for me, I think, you know, 100 150 years ago, we didn't have all the taxes that we did, and we do today. I think even it was the 70s, I believe, is when it started and cool out of hand, from what I've been hearing. I know, when I was a kid in the 70s, bread went up like 70 3070 cents, people went on strike, they didn't buy bread for a week, the prices went back down again. We don't have that today. People are too comfortable, they're too afraid to lose what they have. So they're not going to go out and, and, you know, protest and, and make a stand because oh my god, you know, what, if I lose my job? What if I lose this? What if I lose that it's fear, that keeps people in, in control. That's how you can control people is by fear. And that's, you know, that's what's going on today as well. All this fear of getting sick and dying and other little, it's controlling people all about control. No, it is, right. So, you know, my philosophy is go out and make a shitload go out and go out make a ton of money, I'll make a ton of money. That way, you don't have to worry about paying a lot in taxes or not paying taxes and, and we're not in real estate, if we're talking about taxes, real estate is a great way to save on taxes, you got cost segregations you got depreciation schedules, you got all this stuff that can reduce your, your, your your capital gains and how much you're going to pay in taxes, which means that you're keeping more money in your pocket. And now you can go out and you can do more, you can spend more you can live your life, you know, fully rather than, you know, in a, in a, in a world of lack. Right? You know, it's better to live in a world of abundance. It is Yeah, that's actually one thing. So your comment about the middle class suffers earlier. So everyone tells me Oh, we're taxes in this and like, you know, what's crazy, and no one's gonna like this idea. Why don't we stop taxing corporations and people really hard, because then they'll make more money, then they'll be like, Oh, wait, these people did great things for me. I'll give them a race. kind of thing is. And that's where everyone just kind of looks at me. I'm like, said, in essence taxes, the reason we're suffering, if we just get rid of it. Like it'll actually like meet the economy boom, insanely Sure, absolutely. You know, but we have the Federal Reserve who, who we are the government or the country borrows money from they pay an interest on the money that they're borrowing from the Federal Reserve. And if you know, if you look at it, the taxes that we're paying, are going to pay the interest on the money that the government is borrowing from the Federal Reserve, right. I'm taxed on the money that I'm making. I'm taxed on on products that I'm buying with, with money that was already taxed, that was already taxed on then, you know, then I have to pay on on other things. The taxes are just ridiculous. absolutely absurd. The amount of taxes that we're paying, so we really need to push that back. We need to push those those taxes back, like he said, so that we can have more money in our pockets. Right? Not force businesses, to pay more wages to people, but have the business earn more so that they can pay more, right people think this new $15 minimum wage is a great thing. Sorry, it's not a great thing. Because if I'm a restaurant or business owner, and now I have to pay my three employees $15 minimum, that means I got to pay more taxes, I got to pay more money. So what am I going to do? I'm going to find one of them. Because if I'm a restaurant owner, and I got to pay you 15,000 Guess what? I got to raise the prices on my food, we can't raise it too much. Are you gonna scare off all the customers, right? Then if I scare off the customers, I'm not making more money, I got to fire more people, more people going on on unemployment. That's not a good thing. It's not your businesses more money, let people keep more money, and then they can raise you know, the employees salaries by performance based on performance. Okay, so there's actually I want to talk to you specifically and I didn't know it's not property, but it's so there's a movement in California, with the BLM and all that, that all unskilled people of color, any color, get a trade pay, even if they don't have trade knowledge, but as someone else have white skin color. Even if let's say I hold asked I got my master's degree, even though because I'm white, I only get minimum wage. So for performance, is that a good correlation? Or is that only going to hinder the company kind of thing? Because you're white, pretty much it's not a rule. It's more of a movement right now. Yeah, well, you know, I mean, you should be based on you know, your income, your salary should be based on performance. That's literally what I've told people. I'm like this, it should not make a difference. If you're male, female, if you're five foot six, six foot one, if you know if you're fat, skinny, it doesn't make a difference, man. performance, it's all about performance. It's all about doing your job. You know, running your business the right way. Who cares? Who cares? That is just another way to divide us. Another way of controlling people, right? Yes. What do I care? You know what you look like? where you come from? What color eyes you have, I don't care. Your job do job well exceed my expectations exceed your expectations, and you'll get rewarded for it if you don't united here. Exactly. That's it. And that's where you let government dictate when you when you have the media coming in. And now you know, we see on the supermodels black owned Hispanic owned white owned female, who gives a rat's ass that just segregate and divide. And that is actually racist, even though you're trying to not be racist, right? Well, you're not how you're not, you're not how you don't be racist by not looking at any of that. Exactly. And not taking that into consideration. You know, if you're a nice person, you're a nice person, if you're an astronaut's I don't care what color your skin is. Exactly. You know, that's just the bottom line. That's just the way I that's what I feel. That's the way I think, and, you know, who cares? You know, if you're, if you do your job, well, you do your job, well, you'll get promoted, you'll you'll get, you'll get, you know, you'll get you'll reap the benefits. If not sorry, you're out of here. I don't care what what you look like. No, and that's as one of those things with my co workers. They're just all like, Oh, we this and that. I'm like guys, like performance data, talks, data, or in some cases, Money Talks better than data. If you can make your boss rich, they'll make you rich. If you make your boss lose money, well, guess what? He's probably going to just cut you to the point and you can't survive and you go get a new job. Absolutely. Absolutely. And then you're going to be in that cycle as well, you as a person is going to be that cycle. Right? Because you're entitled, you think you're entitled with something that you're not really entitled to. Right? Well, you think that we're entitled to his life, liberty, and the pursuit of happiness. But you're not guaranteed any of that. Our God given rights and our government is supposed to protect those rights, not give or take away. I 100% agree with that, quote, our constitution and Bill of Rights is all about protecting our right, not giving or taking away cherry picking will they the successes and stuff like that. Like they're saying, Well, if we're good, we'll be able to gather on Fourth of July. I'm sorry, who are you to tell me when I'm allowed to do what I'm not allowed to do? Right? Right. If your fear if you're worried, and you're fearful, and take care of yourself and live your life in fear and worry, if I'm not, then I shouldn't have to live my life that way. That's why we live in this country. People that quite people from all these war torn countries from communist socialist countries are flocking to this country. Why don't you see massive amounts of people on the shores of Florida getting on a boat gone? Dude, I'm getting it. I'm going to Cuba. Best just bad idea in general. We just it's not happening because life over there is not good. Because they don't have like 50 years behind us to hear someone from any country around the world can come to this country. Work their ass off, save money and make a life for themselves. My father did that my father didn't graduate the sixth grade in Israel. He came to this country, worked his ass off, built an empire for his family. Did right by his family by his kids by his wife worked his ass off, did things the right way. Now and he built the American dream for his family. You know, it's funny how immigrants you know, moved to this country have more success than people that are born in this country. Because they have, they have truly nothing to lose so they only have the game for us for the entitled they have Everything to lose and nothing to gain. Right? Because you know, these people come from a country like Cuba, Venezuela, Soviet Union, Afghanistan, Pakistan, India, where you know, and they don't have running water, just to have waters just a fantastic gift, we don't realize that like electricity, internet and water. Like we're freaking so privileged in general, I traveled the world for about six, seven years. And I've been to places that don't have running water that don't have electricity, the sun goes down, you like candles, you want to take a shower, they pick a bucket, they heat it up on the on the fire, and then they give you the bucket of hot water. And that's the bucket that you use to shower with. Rinse your face with, brush your teeth with, do your laundry with. Right? And then you come here and you look in it. And you know, you look at people and they're just you know, they take a bite of a fruit and then they throw it in. Yes, I work at a grocery store. There There are people in this world and that would that would that would feed a whole village. And they're still all serving too. Yeah, so I work at a grocery store in general. So if a fruit doesn't even match the criteria, I guess the government has rules on how the fruit supposed to look. So if it doesn't match it, they literally throw it away. And I'm like, that could literally fit a homeless guy right now. That's right. All those fruits and everything. There's so much waste there is that you can just go and pick those things up and, and feed countries. The communities. It's unbelievable. It's it's, it blows my mind. Just because it has a little a little brown mark or, you know, a bird picked out it's a little bit Well, we can't use that now. Are you kidding me? I have 20 food trees on my property in my house. And I grab an avocado and I'm a cop, you know, bird or squirrel ate a little bit. Dude, I slice that off. And I've got a great avocado. Exactly. You know, but there's so much waste so much so much waste. There is. So one thing one of my first episodes and I actually like talked myself out of it was exactly this. Like if there was a way to do like a one 800 got scrap food kind of thing. But then as I'm explaining him like, oh, that would be a logistical nightmare yet to get a truck to the grocery store, from the grocery store back to your place, then you get a ticket into traveling. Like that would be a logistical nightmare. You'd never make money then. True. Hmm. Are you running out of time? Do you need to go? Yeah, actually I do. Alright, yeah. Notice you were looking down and say Oh, good. Thank you. Yeah, I'm actually having my show on in about 40 minutes. Oh, well, then I will. Thank you. We definitely gotta get you on in the future to absolutely be a pleasure. Thank you. Thank you. It was great talking to you. It was a good pleasure talking to you. Stay safe. Stay well. You too. Take care. Bye.