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Speaker 1: Hello everyone, and welcome to another episode of the Market

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Speaker 1: Disruptor Show. And today I am sitting down with my

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Speaker 1: good friend Ken McIlroy. He is a real estate investor,

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Speaker 1: very successful one with that. He is a real estate

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Speaker 1: advisor for the Rich Dad Company um MC Companies. He

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Speaker 1: speaks a lot about real estate on his own YouTube channel.

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Speaker 1: You should watch him there. He's the one that gave

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Speaker 1: him my cool new touch screen TV you've been seeing

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Speaker 1: you with. Thank you again for them so that can

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Speaker 1: and anyway, welcome to the channels. Pleasure to sit down

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Speaker 1: with you today. Thank you, Thank you, Mark. It's been great.

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Speaker 1: I'm enjoying everything and joining this time and really glad

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Speaker 1: to be on your channel. Awesome, awesome. Well um yeah, man,

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Speaker 1: you're you're You're so accomplished and I'd love just sitting

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Speaker 1: down and just learning whatever I can from you. And

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Speaker 1: so today is gonna be a big treat for everybody

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Speaker 1: because I know they love my real estate content, but

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Speaker 1: they're really gonna like yours, and so I'm happy to

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Speaker 1: do that. But maybe just kind of fill us in

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Speaker 1: real quick on maybe which has kind of been working

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Speaker 1: on or what you're doing right now? Sure? Sure, Well,

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Speaker 1: so you know, like a lot of us. I started

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Speaker 1: investing years ago, and my first investment was using my

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Speaker 1: own cash. You know, I bought a two bit in

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Speaker 1: two Bath that cash flowed. So I've been a cash

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Speaker 1: blow guy in my whole life. And um and then uh,

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Speaker 1: you know, started doing a lot of the small single

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Speaker 1: families and and do plexus and stuff. And then for

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Speaker 1: about the last fifteen plus years, I've been doing multifamily exclusively.

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Speaker 1: We own about ten thousand apartments were we build them,

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Speaker 1: we manage them, we're the general contractor. We're in Texas, Oklahoma, Arizona, Nevada,

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Speaker 1: Oregon and very active, you know, trying to buy multi

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Speaker 1: family and build multi family. We have about um plus

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Speaker 1: see five projects, so we have about FIFTUD units in

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Speaker 1: the works on the construction side, and you know, we're

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Speaker 1: really busy, and we're you know, obviously part of why

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Speaker 1: I do what I do and you do what you

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Speaker 1: do is that we're trying to figure out what to

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Speaker 1: do next. You know, like, you know, how do you

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Speaker 1: understand what's happening with all this crazy stuff with the

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Speaker 1: evictions and the more the moratoriums on the loans and

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Speaker 1: and and then the commercial side is just you know,

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Speaker 1: nobody really is talking a lot about that. But that's

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Speaker 1: a super scary area as well when it comes to

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Speaker 1: office and malls and retail and so, um, you know,

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Speaker 1: there's a lot happening right now and and um so

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Speaker 1: I just really appreciate the content you're putting out and

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Speaker 1: um you know, we're just trying to stay ahead of

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Speaker 1: everything with you know, not only my money, but my

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Speaker 1: investors money. You know. Hey, just a real quick interruption

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Speaker 1: to let you know that this video is brought to

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Speaker 1: up an account super quick and easy and turn up

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Speaker 1: to two d and fifty dollars brought to you by

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Speaker 1: block Fire, so check them out. Yeah. So, um, you're

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Speaker 1: kind of all over the country and you've been across

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Speaker 1: all different types of properties, and I think that's the

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Speaker 1: first point that I would really like to drive home

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Speaker 1: for people. So for everybody listening, just real quick, UM,

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Speaker 1: I got a lot of stuff that we're gonna dig drough.

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Speaker 1: So we're gonna talk about the different types of real estate,

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Speaker 1: whether you want to own a home, invest in real estate,

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Speaker 1: or different types of real estate to invest in. We're

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Speaker 1: gonna talk about different ways you can do that, whether

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Speaker 1: you own it directly or maybe through other groups. UM.

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Speaker 1: We're gonna talk about what we expect to happen this year, UM,

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Speaker 1: Ken and I might be seeing things a little differently,

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Speaker 1: so we're gonna talk about that, um. And then we're

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Speaker 1: gonna talk about, um some big news pieces that are

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Speaker 1: driving real estate this week, and then where we think

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Speaker 1: that's going. So lots of cover here, but can So

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Speaker 1: you've you kind of worked your way up, as you said,

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Speaker 1: with your own money. UM, and now you're doing doing

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Speaker 1: the bigger deals, and you mentioned that you're across several states,

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Speaker 1: So I would say it sounds like, you know, you're

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Speaker 1: kind of watching and studying the market from a big level, right,

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Speaker 1: trying to find where the best opportunities are. Y. Um,

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Speaker 1: that I guess that's right. So um, I guess the

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Speaker 1: first thing that I think that we would should probably discuss,

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Speaker 1: and that most people don't seem to grasp, is they say,

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Speaker 1: is the real estate market going to crash? And I

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Speaker 1: would typically say that there is no such thing as

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Speaker 1: the market. Right, There's thousands of markets and they all

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Speaker 1: move independently. Would you agree with that? And if so,

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Speaker 1: maybe I would absolutely Mark. Yeah. I mean people, you know,

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Speaker 1: the the journalists separate like general, I mean, every everything

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Speaker 1: aggregates up, you know to one thing. You know, but

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Speaker 1: you know, I just if you go back historically, you

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Speaker 1: just take a look at what happened to Detroit as

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Speaker 1: an example, Detroit is the grating apple of a real

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Speaker 1: estate market that crash, you know, uh years ago. And

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Speaker 1: you know, while the a lot of the other markets

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Speaker 1: have boomed in Boston, you know, for various reasons, and uh,

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Speaker 1: you know, the real estate is very local driven right, yeah,

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Speaker 1: and so by area, but also by type, whether that's

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Speaker 1: a house or a duplex, a multi family, a commercial space, etcetera. So, um, yeah,

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Speaker 1: I think that's the first thing. Is I just like

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Speaker 1: to talk about that now. Um. We both recently have

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Speaker 1: done videos kind of talking about the forecast for this year,

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Speaker 1: and of course, uh, neither of us have a crystal ball.

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Speaker 1: If we did, it would sure make things easier, but

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Speaker 1: of course we don't. Um. In your video, you talked

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Speaker 1: about how inventory has been super tight, but that you

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Speaker 1: expect inventory to start coming back online this year. Maybe

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Speaker 1: walk us through kind of yeah, So yeah, basically as

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Speaker 1: we all know, I mean, inventory is a historical lows,

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Speaker 1: forty year lows, and and I think that you know,

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Speaker 1: last I looked, you know, there's like a million houses available.

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Speaker 1: I read somewhere there's like, you know, five realtors for

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Speaker 1: every house or something crazy, you know. So you know,

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Speaker 1: and what's normal as as we all know, if you

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Speaker 1: just use historical numbers as six months supply, and you know,

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Speaker 1: we're basically under three, so somewhere between two and three

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Speaker 1: depending on the market, very undersupplied, and then all the

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Speaker 1: other people or having to you know, where near the

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Speaker 1: where they were before, so they can move an hour,

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Speaker 1: two hours, three hours away. And so we have all

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Speaker 1: these migration patterns which I think probably will probably touch on.

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Speaker 1: So all that stuff is happening at the same time.

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Speaker 1: And then m you have cookering down and they have

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Speaker 1: equity in their home and they're stick there's their standput

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Speaker 1: and um and and these are people that would have

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Speaker 1: normally I think, listed their homes, you know, I mean,

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Speaker 1: there's a lot of things that that aren't happening normally

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Speaker 1: and and so UM, I do believe that once the

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Speaker 1: vaccine gets rolled out and things, you know, come back

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Speaker 1: to whatever, you know, whatever the new normal is, then UM,

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Speaker 1: I think people are gonna um you know, harvest some

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Speaker 1: of the cash from their homes. With these low interest rates,

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Speaker 1: they're gonna you know, they're gonna list. And then I

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Speaker 1: also think that we're gonna have the people. Last I looked,

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Speaker 1: we had somewhere in between three and four million people

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Speaker 1: that were delinquent um. And then we have this massive

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Speaker 1: rental eviction issue that um, you know, will create a

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Speaker 1: lot of disruption as well. So I think all of

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Speaker 1: those things are going to add more supply. Um, you know,

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Speaker 1: how much you know, who knows and by what market.

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Speaker 1: To your point earlier, you know, there are going to

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Speaker 1: be some markets like California that will be in trouble,

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Speaker 1: but there will be other markets that have done really,

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Speaker 1: really wild that won't be. So you know, it's gonna

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Speaker 1: to be state by state, city by city, county by county.

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Speaker 1: But yes, there's gonna be I believe a lot of

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Speaker 1: a lot of inventory that's gonna hit the markets. Uh,

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Speaker 1: I predicted in the in the fourth quarter. Yeah. To

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Speaker 1: to add on to your point, I would say that

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Speaker 1: we did see when the pandemic first broke out last

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Speaker 1: year in March um that we saw him I believe,

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Speaker 1: and you can correct me if I'm wrong, but I

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Speaker 1: believe we saw more inventory pulled off the market than

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Speaker 1: like any time in history. Yes, that's exactly my point. Yeah, yeah,

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Speaker 1: and I don't believe. I mean, you can't blame those people.

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Speaker 1: They're like, Okay, we may or may to have work.

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Speaker 1: You know, our employers may or may not survive. We

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Speaker 1: have we've you know, if you look at equity in

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Speaker 1: people's homes, they've they've done pretty well. And that's actually

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Speaker 1: that's actually the best thing that's happened is people have

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Speaker 1: you know, call it this this bank account. They don't

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Speaker 1: get to get it unless they sell it or refin dance.

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Speaker 1: But you know it's sitting there. And that actually is

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Speaker 1: way better than what happened in two thousand and eight

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Speaker 1: when I went through, you know, a very different correct

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Speaker 1: should So I think that's a good thing and and

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Speaker 1: that actually will I believe will really help. But people,

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Speaker 1: you imagine if you've got a bunch of equity in

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Speaker 1: your house, you know, and you don't know where you're

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Speaker 1: gonna work. As an example, I don't know that you're

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Speaker 1: going to lift your house. Uh you know, because now

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Speaker 1: you're you're gonna harvest it, you're gonna pay capital game tax,

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Speaker 1: and you know you have to figure out where to

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Speaker 1: going next. Right, Yeah, everything in life comes down to certainty.

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Speaker 1: So the more certain you are with your life, the

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Speaker 1: longer out you can plan, and the less uncertain you

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Speaker 1: are than the less you can plan. So extreme examples

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Speaker 1: of that would be if I was in a country

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Speaker 1: like Syria that's being bombed right now and I'm literally

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Speaker 1: fleeing for my life with my family. The last thing

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Speaker 1: I'm trying to do is like worry about saving money

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Speaker 1: from my future, Like my future is so uncertain, that's

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Speaker 1: the last thing I'm worried about. And so, Um, to

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Speaker 1: your point, there was a lot of uncertainty that was

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Speaker 1: going on for any number of reasons. I'm scared to

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Speaker 1: go out of my house. I don't want other people

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Speaker 1: to come in my house. I don't know what the

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Speaker 1: future and all these things, and so people decided to

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Speaker 1: do that. But I guess to add on to your point, Um,

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Speaker 1: we know that people wanted to sell their house before

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Speaker 1: the pandemic and it came off the market and so

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Speaker 1: there so it's reasonable to expect that once this gets cleared,

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Speaker 1: that inventory will go back onto the market. Now, one

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Speaker 1: theme that for everyone listening, one thing that you're gonna

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Speaker 1: hear over and over and over is that it's all

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Speaker 1: about supply and demand, and so everything that we're talking

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Speaker 1: about is affecting supply and demand at some point. Um.

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Speaker 1: But um, one thing that I hear when I talk

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Speaker 1: about real estate, and you can let me know if

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Speaker 1: you hear the same thing, and I'm sure you do.

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Speaker 1: But everybody is expecting this this massive amount of unemployment

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Speaker 1: and specifically the record amount of forbearances and rent moratoriums.

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Speaker 1: They are all expecting that to just come onto the

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Speaker 1: market and just crash it. And I think you're kind

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Speaker 1: of expecting maybe the same thing. So it's interesting. It's

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Speaker 1: going to depend on There's a lot of factors that

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Speaker 1: have to do with that. Obviously. I think most people,

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Speaker 1: if you look at the if somebody's in their home,

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Speaker 1: they're gonna hold on and they're gonna do whatever they

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Speaker 1: have to do. And so they're all gonna trickle out

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Speaker 1: based on what happens. And there's a lot of people

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Speaker 1: that you know, believe that some of the forbearance is

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Speaker 1: just gonna be thrown onto the end of the loan

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Speaker 1: um and uh, but you know, that's a very small percentage,

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Speaker 1: as you know, you know, and and so there's a

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Speaker 1: lot of mortgages out there that are non government mortgages,

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Speaker 1: and and so while there's a you know, the forbearance

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Speaker 1: is certainly in place right now, Um, you know, there's

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Speaker 1: a lot of private lending, a lot of private money

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Speaker 1: out there, you know, kind of sitting back on the

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Speaker 1: sidelines and trying to figure out what to do next. So, um,

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Speaker 1: so I don't know if it's all going to come,

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Speaker 1: but I do think. You know, obviously Biden kicked everything

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Speaker 1: down the road till till June, you know, and so

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Speaker 1: when I originally did that video, as you know, that

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Speaker 1: was prior to him even kicking it down the road

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Speaker 1: to June. So, uh, you know, I was interesting. As

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Speaker 1: you know, I was with George Gammon last weekend up

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Speaker 1: in Park City, and you know, we got as a

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Speaker 1: big discussion as as you know we all do when

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Speaker 1: we get together, trying to tap into everybody's resources, and

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Speaker 1: George said, you know, personal incomes were way up, you know,

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Speaker 1: during all of this, during this whole pandemic, personal incomes

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Speaker 1: are way up, and you gotta wonder why, Like you know,

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Speaker 1: like with all this unemployment, and you know, all these

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Speaker 1: businesses that are going out and and and people are

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Speaker 1: going to part time and all that kind of stuff.

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Speaker 1: You know, that's all been propped up by the government.

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Speaker 1: And uh, there's no doubt around that. And so when

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Speaker 1: when the when the new checks came out and uh,

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Speaker 1: you know, all those things happen. You know that, believe

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Speaker 1: it or not. As a landlord, that actually was good

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Speaker 1: because those people take that money they pay their rent.

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Speaker 1: Uh you know, but at some point you gotta wonder,

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Speaker 1: you know, how long is the government going to be

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Speaker 1: issuing these checks? And that's what I was trying to

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Speaker 1: get at. So will it all hit in the fourth quarter?

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Speaker 1: Probably not, but it's if they don't kick down the

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Speaker 1: road again, I would expect that you these things are

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Speaker 1: going to have to work themselves out well. Um, just

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Speaker 1: like George, I spent a lot of time studying with

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Speaker 1: the Fed, FED is doing, the Central Banks and the

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Speaker 1: Federal Reserve, and so, UM, it just seems to me,

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Speaker 1: I mean, they've they've passed their nine billion, another one

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Speaker 1: point nine trillion is about to come through. I think

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Speaker 1: there's another potentially three trillion there negotiating but coming out

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Speaker 1: with next I just don't think that they've come this

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Speaker 1: far to let it fall apart at this point. In

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Speaker 1: addition to that, um, if the stock market and the

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Speaker 1: real estate markets were to crash hard, debt to GDP

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Speaker 1: levels would skyrocket to a level that would probably wreck

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Speaker 1: the country. And so they're they're kind of forced in

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Speaker 1: a way. I just don't think they would let it go.

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Speaker 1: But we don't know. But one thing I would also say, though,

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Speaker 1: is it and you can see what you've I know,

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Speaker 1: You've looked at the data more than I have on this,

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Speaker 1: but it seems like the people that are affected, the

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Speaker 1: people that have lost their job, the people that are

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Speaker 1: still unemployed, are mostly service level jobs, service sector jobs,

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Speaker 1: and so maybe a lot of those people one don't

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Speaker 1: own homes, and two if they do own homes, there

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Speaker 1: are only in certain price points and markets. Um, what

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Speaker 1: do you think about that? Hey, just another quick interruption

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Speaker 1: to let you know that this video it's brought to

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Speaker 1: you add free by Block five. Now they allow you

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Speaker 1: to hold onto your bitcoin and your other cryptos for

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Speaker 1: can earn high yielding interest on it, so it basically

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Speaker 1: cash flows. Now with Block five you can earn up

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Speaker 1: to eight point six percent interest. You can also borrow

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Speaker 1: against your crypto as well. It's super fast, it's super

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Speaker 1: easy to set up an account, and right now you

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Speaker 1: can get up to two hundred and fifty dollars when

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Speaker 1: you set up your account. Check the link in the

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Speaker 1: description that I have for details in order to claim

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Speaker 1: that two and fifty dollars. Because Block five is the

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Speaker 1: future of finance, just check the link in the description

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Speaker 1: for all the details. Of how to claim your two

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Speaker 1: and fifty dollars today, you start to look at these,

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Speaker 1: um you know, that's obviously on the higher end side,

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Speaker 1: you know, companies like JP Morgan, which I know we

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Speaker 1: were talking about before, or Goodman Sacks, and you start

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Speaker 1: to look at these big, big companies that are based

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Speaker 1: in you know, it's not just all about New York

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Speaker 1: with Chicago, and I have friends that are that have

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Speaker 1: spaces in those in those in those markets, and they're

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Speaker 1: paying rent and none of their employees are going to

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Speaker 1: the office and and so you know, that's you know,

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Speaker 1: that's all the stuff that no one has really talked

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Speaker 1: about yet. And so you're right, it's definitely at the

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Speaker 1: lower end for sure. And those are the ones that

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Speaker 1: show up first. But then there's a whole troncha people

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Speaker 1: I think that are are displaced right now, that are

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Speaker 1: trying to find their way. And I got seventy resumes

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Speaker 1: from my CEO position and none of them from a

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Speaker 1: local area. Wow. Okay, so let's let's chase that down

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Speaker 1: a little bit. So there's great migration, right, Everybody wants

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Speaker 1: to get the heck out of Dodge, right, They're leaving

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Speaker 1: New York and they want to migrate to these areas.

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Speaker 1: And so, um, we were talking earlier about this headline

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Speaker 1: I saw with JP Morgan and putting up like eight

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Speaker 1: hundred thousand square feet of office space. We've seen most

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Speaker 1: of Wall Street, Goldman Sacks, even the New York Stock

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Speaker 1: Exchange are announcing their all moving down to Florida. People

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Speaker 1: trying to go to Arizona where you're at. Talk about

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Speaker 1: this great migration a little bit. It's true, you know,

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Speaker 1: I think you probably saw the news. It's a it's

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Speaker 1: a bit dadd now, but Pinterest wrote a ninety million

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Speaker 1: dollar check to get out of their lease in San Francisco. Uh,

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Speaker 1: you know, and and so you start to see, you know,

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Speaker 1: I'm in the commercial space primarily, so I own office buildings,

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Speaker 1: we have self storage, I do land development. And obviously

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Speaker 1: what I've primarily known for what I do is multi family.

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Speaker 1: And that's also a different issue. I have friends that

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Speaker 1: are all multi family in Chicago and New York and

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Speaker 1: and in in San Francisco and Attle and and they're

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Speaker 1: in troubble obviously for multiple reasons. And so I think that, uh,

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Speaker 1: and the hotel business, you know, those little micro hotels

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Speaker 1: are just getting crushed right now because you can't survive

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Speaker 1: on ten, which you're where they are. And so all

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Speaker 1: of that's happening, and I think the migration patterns are

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Speaker 1: I think it's fascinating personally. I think the fact that

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Speaker 1: you know, you can you can go to be a worker,

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Speaker 1: let's say, for Twitter and and live in Texas now, right,

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Speaker 1: So I think that's awesome. And the fact that but

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Speaker 1: it is going to make a massive real estate impact

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Speaker 1: for obviously San Francisco, as you know, just to pick

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Speaker 1: on them, but things are happening like that all over

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Speaker 1: Mark even my own company. You know, we're taking a

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Speaker 1: look at this hybrid model. You know, we have a

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Speaker 1: lot of space. And I have every conversation I have

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Speaker 1: with my friends, they're like, okay, well all my people

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Speaker 1: have been home for a year almost so how much

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Speaker 1: space do I really need? And so at the end

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Speaker 1: of their leases, they're going, well, you know, I had

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Speaker 1: twenty thousand, now I'm out five, you know, and and uh,

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Speaker 1: it's really really interesting. I think, what what you're going

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Speaker 1: to start to see. I was actually playing golf with

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Speaker 1: the one of the top guys that Freddie Mack and

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Speaker 1: he you know, he's in Arizona, of all things, and

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Speaker 1: him and his wife ought a place out here. He

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Speaker 1: flies back. I said, what are you gonna do with

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Speaker 1: that massive campus? And he said, well, I think what

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Speaker 1: we're gonna do is we're gonna put a hotel. We're

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Speaker 1: gonna put some hotels in there and make it all

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Speaker 1: more like a conference center, you know, just for Freddie mckinploy.

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Speaker 1: So you can fly in, you know, uh, stay there, go,

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Speaker 1: you know, meet when you need to meet, and then

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Speaker 1: fly back to where you are. And so I think

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Speaker 1: you're gonna see this repurposing of real estate. You know,

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Speaker 1: we're certainly seeing with the regional malls already, which we're

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Speaker 1: already in trouble pre you know, Preak COVID, and so

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Speaker 1: it's it's an exciting time for real estate investing. In

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Speaker 1: my opinion. Well, anytime there's change, it creates opportunity. And

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Speaker 1: so as an investor, no matter what market you're in,

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Speaker 1: you're looking for that change because that's where the opportunity

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Speaker 1: is going to be if you get it right and

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Speaker 1: you can get there before it. I think it was Buffet,

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Speaker 1: you know whoever said that the markets are discounting mechanisms, right,

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Speaker 1: So you're trying to get a discount on what the

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Speaker 1: future is gonna hold. But I would say, just to

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Speaker 1: add to that, UM, I was already tracking this great

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Speaker 1: migration from what the baby boomers. They're all retiring and

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Speaker 1: they all want to sell their McMansions, and they all

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Speaker 1: want to move somewhere where it's sunny and they can

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Speaker 1: play golf in tennis during a sixty five days a year.

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Speaker 1: We already had that going on, and now you're adding

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Speaker 1: on the COVID work from home kind of thing on

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Speaker 1: top of that, and so it's a powerful, powerful trend.

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Speaker 1: So UM, I guess let's wrap it up with that

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Speaker 1: and just say, UM that anybody looking at real estate

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Speaker 1: needs to understand it's local and they need to understand

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Speaker 1: these supply and demand tricks. UM. Now, if we want

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Speaker 1: to UM kind of take it a little bit for farther.

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Speaker 1: So people who are interested in this topic, let's talk

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Speaker 1: about different ways that they would buy real estate. So

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Speaker 1: first off, they would have like their home. So if

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Speaker 1: you're if you want to buy a home, so a

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Speaker 1: lot of people are going, should I buy a home

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Speaker 1: this year or not? Rates are cheap? Should I lock

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Speaker 1: it in? Um? I don't believe that you should look

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Speaker 1: at as an investment. You need to look at as

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Speaker 1: a home. So what what do those people need to

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Speaker 1: be looking at or thinking about in that regards And

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Speaker 1: and do you kind of agree with kind of the

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Speaker 1: the it's an it's an asset not a liable or

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Speaker 1: it's a liability not an asset type of thing. Yeah,

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Speaker 1: well a great question, by the way, because I think

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Speaker 1: that's what's kind of everyone's facing right now. And I

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Speaker 1: think there's a big affordability issue happening right now. You

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Speaker 1: look at personal savings are way up, and which is good.

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Speaker 1: That's finally we you know, people are saving money, which

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Speaker 1: they need to do for these kinds of you have

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Speaker 1: cash reserve. Um, but I agree with you. I think

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Speaker 1: that people should live where they want to live, and um,

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Speaker 1: you know, they should live within their means, and they

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Speaker 1: should have enough cash reserves and they should be where

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Speaker 1: they want to be. And I think this is the

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Speaker 1: exact time to be able to figure that out. And

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Speaker 1: that's why Idaho and Montana are blowing up. And that's

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Speaker 1: why I'm Wyoming. And you know these little places that

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Speaker 1: you know where fly our states basically you know, are

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Speaker 1: are really on fire, you know, these little, small little suburbs.

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Speaker 1: You know, I I live in the Northwest in the

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Speaker 1: summer because Arizona is just so crazy, and um, you know,

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Speaker 1: it's it's not what's happening in in a lot of

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Speaker 1: these little markets. These are markets that I go to,

427
00:21:41,320 --> 00:21:45,119
Speaker 1: I I keep track of, uh, and and it's happening

428
00:21:45,119 --> 00:21:48,080
Speaker 1: all over Oregon, all over Washington and these small little things.

429
00:21:48,119 --> 00:21:51,439
Speaker 1: So that's what's happening. And I agree with you people.

430
00:21:51,720 --> 00:21:54,520
Speaker 1: I always say your house, even for me, my house

431
00:21:54,600 --> 00:21:56,399
Speaker 1: is my house. It's not on the table from an

432
00:21:56,480 --> 00:22:00,199
Speaker 1: investment standpoint. With that being said, you don't on a

433
00:22:00,440 --> 00:22:03,800
Speaker 1: you know, people are always trying to time things. I

434
00:22:03,840 --> 00:22:08,199
Speaker 1: think with inflation, uh and the low cost of the

435
00:22:08,240 --> 00:22:12,879
Speaker 1: borrowing that, um, you're gonna be just fine. You know.

436
00:22:13,359 --> 00:22:15,520
Speaker 1: Like if you buy something that's a half a million

437
00:22:15,560 --> 00:22:18,800
Speaker 1: box or two grand or whatever, no matter where it is,

438
00:22:19,160 --> 00:22:21,040
Speaker 1: and you throw some debt on their two and a

439
00:22:21,080 --> 00:22:24,200
Speaker 1: half percent fix, I think you're gonna be just fine.

440
00:22:24,680 --> 00:22:27,280
Speaker 1: Based on all the money printing that we've got going on,

441
00:22:27,960 --> 00:22:30,120
Speaker 1: you know, you're gonna hit You're gonna be hedged on

442
00:22:30,200 --> 00:22:33,960
Speaker 1: the six of that seventy percent. Let's say, or eating

443
00:22:34,680 --> 00:22:39,000
Speaker 1: um by using somebody else's money anyway. So really you're

444
00:22:39,000 --> 00:22:41,800
Speaker 1: only you're only messing around with that down payment piece,

445
00:22:41,960 --> 00:22:47,119
Speaker 1: and inflation is gonna gonna push everything up personally. You know,

446
00:22:47,480 --> 00:22:49,840
Speaker 1: I believe we're already seeing it. You know, I'm building,

447
00:22:49,880 --> 00:22:54,840
Speaker 1: I'm building properties on one property units. I'm a million

448
00:22:54,880 --> 00:22:59,480
Speaker 1: dollars high on my on my lumber. You know, it's

449
00:22:59,520 --> 00:23:03,600
Speaker 1: just lum and you know, so you're already seeing these

450
00:23:03,760 --> 00:23:07,680
Speaker 1: uh you know components. Um. I read from the National Mortgage,

451
00:23:07,960 --> 00:23:11,840
Speaker 1: National Housing. I'm sorry, the National home Builders. The average

452
00:23:11,840 --> 00:23:14,720
Speaker 1: home is now fourteen thousands higher as a result of

453
00:23:14,760 --> 00:23:18,800
Speaker 1: the components from where it was pre COVID. So that's

454
00:23:18,800 --> 00:23:22,040
Speaker 1: a lot. Yeah, definitely. Yeah. So I would say, let's

455
00:23:22,119 --> 00:23:24,040
Speaker 1: let's we'll table that and just say, if you're thinking

456
00:23:24,040 --> 00:23:26,160
Speaker 1: about owning the home, to live in it, and it's

457
00:23:26,160 --> 00:23:28,200
Speaker 1: your home, as you made the perfect case. And I

458
00:23:28,240 --> 00:23:30,720
Speaker 1: hadn't really thought about that. All these people that wished

459
00:23:31,000 --> 00:23:32,760
Speaker 1: they could live in Wyoming or wish they could live

460
00:23:32,760 --> 00:23:34,880
Speaker 1: in id Hope, but there's no jobs there. Now they

461
00:23:34,880 --> 00:23:37,440
Speaker 1: can right now they can live in idho and still

462
00:23:37,480 --> 00:23:40,080
Speaker 1: working in Silicon Valley, right and so they or work

463
00:23:40,119 --> 00:23:41,719
Speaker 1: in New York City from from some Idah. So that's

464
00:23:41,760 --> 00:23:43,240
Speaker 1: a good that's a good point. And so if you

465
00:23:43,280 --> 00:23:45,199
Speaker 1: can live where you want to live in locking historic

466
00:23:45,280 --> 00:23:47,840
Speaker 1: rates and you want to live there forever, then who cares.

467
00:23:48,400 --> 00:23:51,359
Speaker 1: Um An example for myself is um as you know,

468
00:23:51,440 --> 00:23:53,040
Speaker 1: I just moved out of the country. I just moved

469
00:23:53,040 --> 00:23:56,879
Speaker 1: from California to um to Puerto Rico, and we're getting

470
00:23:56,880 --> 00:23:58,760
Speaker 1: ready to move out of the country, and all of

471
00:23:58,800 --> 00:24:02,320
Speaker 1: a sudden, in my area on the beach, a property

472
00:24:02,320 --> 00:24:05,800
Speaker 1: came up for sale. The last thing from my mind

473
00:24:05,880 --> 00:24:09,120
Speaker 1: is buying a house at this point, and I'm just like,

474
00:24:09,920 --> 00:24:12,120
Speaker 1: I want that house. I want that I want the lot.

475
00:24:12,520 --> 00:24:14,720
Speaker 1: I want that lot that that house is on. And

476
00:24:14,720 --> 00:24:17,960
Speaker 1: my wife's like, what are you talking about? Like, I'm like,

477
00:24:18,200 --> 00:24:20,200
Speaker 1: this will probably the worst time to buy. I'll probably

478
00:24:20,200 --> 00:24:22,720
Speaker 1: be an idiot. The market will probably crash, but I

479
00:24:22,760 --> 00:24:26,000
Speaker 1: don't care. I don't care if the market drop. If

480
00:24:26,000 --> 00:24:28,120
Speaker 1: I can lock in the rate and get that property,

481
00:24:28,160 --> 00:24:30,159
Speaker 1: I want it. And so I didn't end up getting it,

482
00:24:30,200 --> 00:24:32,600
Speaker 1: by the way, But my point being, if it's a

483
00:24:32,640 --> 00:24:34,480
Speaker 1: place that you want and you've can lock it in

484
00:24:34,480 --> 00:24:36,640
Speaker 1: and you don't care if the price goes down then, Um,

485
00:24:36,680 --> 00:24:38,480
Speaker 1: I would I would probably say by and on top

486
00:24:38,520 --> 00:24:41,320
Speaker 1: of that, um and my real recent real estate video,

487
00:24:41,359 --> 00:24:43,320
Speaker 1: I made the case that a house I owned in

488
00:24:43,840 --> 00:24:47,040
Speaker 1: two thousand seven, I had a one point five million

489
00:24:47,080 --> 00:24:49,240
Speaker 1: dollar loan. It was about ten thousand dollars a month.

490
00:24:49,880 --> 00:24:52,399
Speaker 1: Today that same ten thousand dollars I mean two and

491
00:24:52,400 --> 00:24:56,080
Speaker 1: a half million, right, so being able to lock it

492
00:24:56,119 --> 00:24:58,760
Speaker 1: in these rates, especially this week we've seen rates going

493
00:24:58,800 --> 00:25:01,880
Speaker 1: back up. What do you think the rates going back

494
00:25:01,960 --> 00:25:04,600
Speaker 1: up will do to the homes? You think it how high?

495
00:25:04,680 --> 00:25:07,040
Speaker 1: I guess do you think it needs to go up

496
00:25:07,040 --> 00:25:11,640
Speaker 1: before maybe that starts to make an impact? Right? Well,

497
00:25:11,680 --> 00:25:14,240
Speaker 1: it's interesting. I just was listening to something about this.

498
00:25:14,400 --> 00:25:17,359
Speaker 1: I guess how wun't spoke to, you know, somebody you know,

499
00:25:17,359 --> 00:25:20,760
Speaker 1: Wall Street Journal, convention and and and raids jumped up.

500
00:25:21,440 --> 00:25:25,040
Speaker 1: Uh you know, uh they're still incredibly Lowmark. You know,

501
00:25:25,119 --> 00:25:28,640
Speaker 1: it's funny like as I, you know, as as Ross

502
00:25:28,680 --> 00:25:31,000
Speaker 1: and I were buying all that real estate. We you know,

503
00:25:31,040 --> 00:25:33,200
Speaker 1: we're buying it, you know, four and a half, five

504
00:25:33,240 --> 00:25:36,639
Speaker 1: and half even six. We were happy then. You know,

505
00:25:36,800 --> 00:25:39,800
Speaker 1: now it's lit even more so. Our cash, our reefies,

506
00:25:40,600 --> 00:25:42,680
Speaker 1: you know, are better we're actually we don't want to

507
00:25:42,680 --> 00:25:46,920
Speaker 1: get more out. So um, yes they're up, but they're

508
00:25:46,960 --> 00:25:50,040
Speaker 1: still so low. Uh, you know, and I think that

509
00:25:50,080 --> 00:25:51,960
Speaker 1: you're going to start to see them bumping up. But

510
00:25:52,119 --> 00:25:56,400
Speaker 1: what does happen To answer your question, Obviously, whenever anything

511
00:25:56,440 --> 00:25:59,160
Speaker 1: goes up like that, that's the cost of money. Then

512
00:26:00,080 --> 00:26:02,800
Speaker 1: you know, things slowed down even just a little bit.

513
00:26:03,280 --> 00:26:05,880
Speaker 1: So maybe that person that was right on the edge

514
00:26:05,880 --> 00:26:08,520
Speaker 1: to be able to buy something, you know, now can't

515
00:26:08,600 --> 00:26:11,160
Speaker 1: because that rates higher. It could be a car, could

516
00:26:11,160 --> 00:26:15,080
Speaker 1: be a house, you know, and and so it'll be

517
00:26:15,119 --> 00:26:18,760
Speaker 1: interesting to see, you know, where rates go. I can't

518
00:26:18,760 --> 00:26:22,840
Speaker 1: imagine during all of this that they're going to increase rates,

519
00:26:22,960 --> 00:26:25,240
Speaker 1: you know though, as we still have you know a

520
00:26:25,240 --> 00:26:29,320
Speaker 1: lot of people, um that are unemployed, and we still

521
00:26:29,359 --> 00:26:33,600
Speaker 1: have a lot of disruption happening, and and and for

522
00:26:33,640 --> 00:26:36,960
Speaker 1: them to raise rates, um, you know, at least over

523
00:26:37,000 --> 00:26:41,080
Speaker 1: the short term would be a really really bad idea. Well,

524
00:26:41,160 --> 00:26:43,439
Speaker 1: I don't think the FED will They said they're not

525
00:26:43,480 --> 00:26:46,600
Speaker 1: even thinking about thinking about raising rates. So I mean

526
00:26:46,640 --> 00:26:48,840
Speaker 1: it could be five years, they've said at least five years.

527
00:26:48,920 --> 00:26:50,960
Speaker 1: I think rates will go down, but the mortgage rates

528
00:26:50,960 --> 00:26:53,680
Speaker 1: don't track the FED fund rate exactly. So we'll see

529
00:26:53,720 --> 00:26:56,439
Speaker 1: what happens with that. But let's jump let's jump gears

530
00:26:56,480 --> 00:26:58,240
Speaker 1: a little bit, and let's leave residents. We kind of

531
00:26:58,240 --> 00:26:59,760
Speaker 1: covered for the people that want to buy a house

532
00:26:59,760 --> 00:27:02,160
Speaker 1: to live in it. But now what about real estate investing?

533
00:27:02,240 --> 00:27:06,000
Speaker 1: Now I've invested. I was investing in real estate from

534
00:27:07,680 --> 00:27:09,719
Speaker 1: I did really good for a decade through about two

535
00:27:09,720 --> 00:27:13,439
Speaker 1: thousand five two six. Obviously two tho was horrible. But

536
00:27:13,520 --> 00:27:17,199
Speaker 1: what I learned is that, uh, there's no such thing

537
00:27:17,240 --> 00:27:19,920
Speaker 1: as good and bad timing, just good and bad strategies.

538
00:27:20,880 --> 00:27:22,560
Speaker 1: And I don't know if you agree with that, but

539
00:27:22,720 --> 00:27:26,439
Speaker 1: right now there's I think certain real estate strategy investing

540
00:27:26,480 --> 00:27:29,280
Speaker 1: strategies that would still work today and probably some that don't.

541
00:27:29,320 --> 00:27:31,960
Speaker 1: Do you agree with that, and if so, which strategies

542
00:27:32,000 --> 00:27:33,719
Speaker 1: do you think are probably the best for people to

543
00:27:33,800 --> 00:27:36,320
Speaker 1: kind of think about based on our migration patterns. And

544
00:27:36,359 --> 00:27:39,840
Speaker 1: I know you watch I watch that's gonna create bubbles

545
00:27:39,840 --> 00:27:42,640
Speaker 1: and depressions. You know, people are gonna be moving out

546
00:27:42,640 --> 00:27:45,800
Speaker 1: of areas and they're moving into other areas, and that's

547
00:27:46,200 --> 00:27:49,359
Speaker 1: you know, so you've got to really be cognizant of

548
00:27:49,400 --> 00:27:52,320
Speaker 1: where people are heading. And if you're if you can

549
00:27:52,400 --> 00:27:55,040
Speaker 1: be there and catch that, then you're gonna do very

550
00:27:55,160 --> 00:27:59,639
Speaker 1: very well, even during this pandemic. Okay, Um, it seems

551
00:27:59,680 --> 00:28:02,119
Speaker 1: to me like I I probably did a hundred hundred

552
00:28:02,160 --> 00:28:05,360
Speaker 1: and fifty fix and flips, but I don't know if

553
00:28:05,960 --> 00:28:08,399
Speaker 1: now is the best market to be doing those today.

554
00:28:08,560 --> 00:28:10,800
Speaker 1: I would agree with you, I would agree. I mean,

555
00:28:10,840 --> 00:28:12,880
Speaker 1: you know, it's the problem with that is that it's

556
00:28:12,920 --> 00:28:17,200
Speaker 1: a you've got the timing issue right, and and so

557
00:28:17,720 --> 00:28:20,960
Speaker 1: you know, it depends on how long I suppose, and

558
00:28:20,960 --> 00:28:23,359
Speaker 1: and then also you have the tax piece now, which

559
00:28:23,440 --> 00:28:27,720
Speaker 1: is up for grabs, I guess, you know, and so uh,

560
00:28:27,760 --> 00:28:31,359
Speaker 1: you know, there's it takes. You want to make sure

561
00:28:31,480 --> 00:28:33,720
Speaker 1: that when whatever you're buying, it's gonna be worth a

562
00:28:33,760 --> 00:28:36,680
Speaker 1: lot more than you know, what you're paid, and and

563
00:28:36,920 --> 00:28:40,960
Speaker 1: and and because of where things are with inventory, i'd

564
00:28:40,960 --> 00:28:44,280
Speaker 1: be careful with that, you know, especially um, with what

565
00:28:44,320 --> 00:28:47,239
Speaker 1: we kind of started talking about earlier on inventory. So

566
00:28:47,280 --> 00:28:49,959
Speaker 1: then investing for income is the strategy that I like?

567
00:28:50,120 --> 00:28:53,040
Speaker 1: Is that the strategy that you like a d percent?

568
00:28:53,200 --> 00:28:55,520
Speaker 1: And that's actually been my strategy the whole time. I

569
00:28:56,680 --> 00:28:59,080
Speaker 1: like you and I don't. We've talked about this. I

570
00:28:59,120 --> 00:29:01,440
Speaker 1: look back sometime times that the properties that I owned,

571
00:29:01,880 --> 00:29:03,680
Speaker 1: and I'm like, man, I wish I still owed that,

572
00:29:03,760 --> 00:29:06,000
Speaker 1: you know, I mean, I do that all the time,

573
00:29:06,040 --> 00:29:09,720
Speaker 1: and and and and you know, I've had a great career.

574
00:29:09,800 --> 00:29:13,719
Speaker 1: It's been wonderful. But the stuff I've kept has, you know,

575
00:29:13,840 --> 00:29:16,600
Speaker 1: and cash flowed over the time has been by far

576
00:29:16,720 --> 00:29:20,760
Speaker 1: the best strategy. So, UM, if I want to invest

577
00:29:20,800 --> 00:29:23,280
Speaker 1: for cash flow, I want to I want to invest

578
00:29:23,320 --> 00:29:25,080
Speaker 1: in a place that I believe the cash flow has

579
00:29:25,080 --> 00:29:27,760
Speaker 1: a good long term demand. Like, I don't want to

580
00:29:27,760 --> 00:29:29,640
Speaker 1: invest in a in a in a city that's dying

581
00:29:29,800 --> 00:29:32,040
Speaker 1: and nobody's gonna be there and in a few years, right,

582
00:29:32,080 --> 00:29:33,640
Speaker 1: I want to move somewhere that has long term demand.

583
00:29:33,720 --> 00:29:36,600
Speaker 1: So that's the migration thing you talked about for me.

584
00:29:36,720 --> 00:29:38,880
Speaker 1: I kind of like the entry level because people are

585
00:29:38,880 --> 00:29:40,840
Speaker 1: always coming up and people are always coming down. There's

586
00:29:40,840 --> 00:29:44,880
Speaker 1: always demand for that entry level. Um. But then what

587
00:29:45,040 --> 00:29:48,000
Speaker 1: I've been kind of wrestling with lately, and I'd like

588
00:29:48,040 --> 00:29:52,320
Speaker 1: your opinion on this, I've always liked to own everything. Um.

589
00:29:52,360 --> 00:29:55,560
Speaker 1: I just sold an apartment building in Indianapolis two months ago,

590
00:29:56,280 --> 00:29:58,240
Speaker 1: and it just became too much work, even with my

591
00:29:58,280 --> 00:30:00,920
Speaker 1: property managers in place, and I just couldn't even manage

592
00:30:00,920 --> 00:30:02,280
Speaker 1: my property manager, and I just don't want to deal

593
00:30:02,280 --> 00:30:04,600
Speaker 1: with it. And so I've been thinking about shifting that

594
00:30:04,720 --> 00:30:07,880
Speaker 1: into more like syndicated deals instead of me owning and

595
00:30:07,920 --> 00:30:10,920
Speaker 1: managing everything, going into bigger deals where I can do

596
00:30:11,000 --> 00:30:14,120
Speaker 1: you know, big apartment complexes, things like that. What do

597
00:30:14,200 --> 00:30:16,719
Speaker 1: you think? What do you think about those two options

598
00:30:16,760 --> 00:30:19,440
Speaker 1: for the average kind of person. Well, first of all,

599
00:30:19,440 --> 00:30:22,160
Speaker 1: I completely agree with your entry level piece. You work

600
00:30:22,560 --> 00:30:25,680
Speaker 1: rash and I'm known as workforce housing guys. So you know,

601
00:30:26,360 --> 00:30:29,560
Speaker 1: we we build what we call a minus, you know,

602
00:30:29,760 --> 00:30:32,040
Speaker 1: and that's what we build. And we try to buy

603
00:30:32,480 --> 00:30:35,800
Speaker 1: stuff that we can be right underneath, you know, the

604
00:30:36,440 --> 00:30:39,080
Speaker 1: really high and glitzy stuff. We want to be two three,

605
00:30:39,360 --> 00:30:44,320
Speaker 1: four hundred dollars a month less on a rental side. Um.

606
00:30:44,560 --> 00:30:48,320
Speaker 1: And so I completely agree with your strategy there um.

607
00:30:48,400 --> 00:30:53,200
Speaker 1: And I think that you know, it's the management piece

608
00:30:53,320 --> 00:30:56,400
Speaker 1: is you know, it's a real piece. It's a big deal.

609
00:30:56,600 --> 00:30:59,840
Speaker 1: I was fortunate markets you know that I came up

610
00:31:00,040 --> 00:31:05,080
Speaker 1: in the property management world operationally. I started managing properties

611
00:31:05,400 --> 00:31:07,680
Speaker 1: when I grew up in Seattle, and I was doing

612
00:31:07,720 --> 00:31:10,200
Speaker 1: that in college, and and and and so for the

613
00:31:10,240 --> 00:31:13,280
Speaker 1: first ten years of my career I did that and so,

614
00:31:14,240 --> 00:31:17,440
Speaker 1: uh so it's really a much much easier for me

615
00:31:17,600 --> 00:31:20,000
Speaker 1: to be able to drop in and manage a manager,

616
00:31:20,120 --> 00:31:23,080
Speaker 1: which in some cases, like when we're buying stuff in Oklahoma,

617
00:31:23,160 --> 00:31:27,200
Speaker 1: we actually used a third party manager. Um and in

618
00:31:27,200 --> 00:31:31,080
Speaker 1: in Texas we actually bought a management company and and

619
00:31:31,200 --> 00:31:35,520
Speaker 1: rebranded it. It's the key to everything. But if you

620
00:31:35,560 --> 00:31:38,760
Speaker 1: don't have the uh you know, the time and the

621
00:31:39,200 --> 00:31:42,040
Speaker 1: and the experience around it, it can be daunting because

622
00:31:42,200 --> 00:31:46,120
Speaker 1: you know, these little decisions that are being made. Luckily,

623
00:31:46,160 --> 00:31:49,240
Speaker 1: because of my experience, I can challenge them and and

624
00:31:49,320 --> 00:31:51,600
Speaker 1: you know, I can, I can drop into any property

625
00:31:51,640 --> 00:31:54,360
Speaker 1: anywhere and have a one on one with the manager

626
00:31:54,680 --> 00:31:57,240
Speaker 1: and and you know, and because I've been there before,

627
00:31:57,280 --> 00:31:59,880
Speaker 1: I've done it. I have a trying tremendous amount of experience.

628
00:31:59,880 --> 00:32:03,760
Speaker 1: So we have a management company, but it's finding a

629
00:32:03,880 --> 00:32:07,080
Speaker 1: good property manager man is the hardest thing ever. It's

630
00:32:07,160 --> 00:32:10,600
Speaker 1: the most questioned thing that we get. I get probably

631
00:32:11,160 --> 00:32:15,000
Speaker 1: every week somebody asking me to manage their stuff, and um,

632
00:32:15,040 --> 00:32:18,280
Speaker 1: you know, but we only do our own. And but

633
00:32:18,440 --> 00:32:20,680
Speaker 1: for those people that don't want that, and we have

634
00:32:20,760 --> 00:32:24,280
Speaker 1: thousands of investors that to your point that they just

635
00:32:24,960 --> 00:32:28,560
Speaker 1: they they put the money into this into the syndication.

636
00:32:28,960 --> 00:32:31,200
Speaker 1: The one thing you've got to be careful of is

637
00:32:31,400 --> 00:32:37,200
Speaker 1: sometimes the syndicators don't have that management experience and so

638
00:32:37,320 --> 00:32:39,640
Speaker 1: they do it themselves too. So you can give us

639
00:32:39,680 --> 00:32:42,720
Speaker 1: indicator money and the deal might be great, Uh, you know,

640
00:32:42,800 --> 00:32:44,800
Speaker 1: my pencil out and all that kind of stuff, but

641
00:32:44,880 --> 00:32:47,440
Speaker 1: then they're not pulling the cash out on the management side.

642
00:32:47,840 --> 00:32:49,840
Speaker 1: All right, Ken, Well, that's a lot of good information

643
00:32:49,840 --> 00:32:52,080
Speaker 1: that you've given us. UM, let's go ahead and try

644
00:32:52,120 --> 00:32:55,240
Speaker 1: to summarize this and kind of wrap this up. So UM,

645
00:32:55,280 --> 00:32:57,520
Speaker 1: as a homeowner, they probably want to go ahead and

646
00:32:57,520 --> 00:32:59,240
Speaker 1: buy if they want to live their luck in those

647
00:32:59,360 --> 00:33:02,120
Speaker 1: new rates. If want to invest, UM, they want to

648
00:33:02,160 --> 00:33:04,720
Speaker 1: invest into areas that are growing, and they want to

649
00:33:04,720 --> 00:33:07,480
Speaker 1: invest for cash flow. Give us some ideas of where

650
00:33:08,120 --> 00:33:10,200
Speaker 1: people would get this information, what they should be looking,

651
00:33:10,240 --> 00:33:15,760
Speaker 1: and how they might want to kind of approach that. Sure, well,

652
00:33:15,960 --> 00:33:18,800
Speaker 1: I think that you know, when you're looking to obviously

653
00:33:18,880 --> 00:33:21,160
Speaker 1: invest in whatever it is that you're investing, and you

654
00:33:21,200 --> 00:33:23,960
Speaker 1: want to go to where the people are going population growth,

655
00:33:24,080 --> 00:33:27,000
Speaker 1: employment growth and all of those things. And I think

656
00:33:27,080 --> 00:33:30,800
Speaker 1: that's probably the number one thing that people miss is

657
00:33:31,520 --> 00:33:34,200
Speaker 1: that you know, you want to go as Wayne Gretzky says,

658
00:33:34,320 --> 00:33:35,840
Speaker 1: you know when he was why are you such a

659
00:33:35,840 --> 00:33:38,400
Speaker 1: great hockey player? Well, I always skated to where I

660
00:33:38,440 --> 00:33:40,600
Speaker 1: thought the puck was going to be. And I think

661
00:33:40,600 --> 00:33:43,960
Speaker 1: that people missed that, you know, they they kind of

662
00:33:44,000 --> 00:33:46,840
Speaker 1: get on this herd mentality and and you know, all

663
00:33:46,920 --> 00:33:49,880
Speaker 1: so and solce buying. You kind of have to look

664
00:33:49,880 --> 00:33:53,080
Speaker 1: at the bigger picture, so you know, and and then

665
00:33:53,200 --> 00:33:57,480
Speaker 1: of course, um, you know, I I tracked that stuff

666
00:33:57,520 --> 00:33:59,160
Speaker 1: through the you know, there's a ton of stuff on

667
00:33:59,280 --> 00:34:01,640
Speaker 1: migration on line. There's a ton of stuff on the

668
00:34:01,720 --> 00:34:06,040
Speaker 1: on the BLS website and the Census websites, the Black

669
00:34:06,160 --> 00:34:09,640
Speaker 1: Night Helps you know, on the mortgage for foreclosures, and

670
00:34:09,680 --> 00:34:12,800
Speaker 1: the National Multi Housing Council on the on the evictions

671
00:34:12,800 --> 00:34:15,160
Speaker 1: and all that kind of stuff. All of this has

672
00:34:15,280 --> 00:34:19,120
Speaker 1: to do with what's gonna happen, you know, And and

673
00:34:19,239 --> 00:34:23,719
Speaker 1: you know, we we do have a Ken McRoy dot com.

674
00:34:23,840 --> 00:34:29,520
Speaker 1: We have uh I uh, we have a market Disruptor

675
00:34:29,920 --> 00:34:33,840
Speaker 1: piece that you know, your your your folks can download

676
00:34:33,920 --> 00:34:35,759
Speaker 1: if they like you just go to Kim macroy dot

677
00:34:35,760 --> 00:34:38,560
Speaker 1: com slash market Disruptor and you can kind of take

678
00:34:38,600 --> 00:34:40,239
Speaker 1: a look at some of the things that you know

679
00:34:40,400 --> 00:34:43,280
Speaker 1: that we what we take a look at that hopefully

680
00:34:43,280 --> 00:34:47,919
Speaker 1: will help them make the really good decisions. Yeah, awesome, awesome. Well,

681
00:34:47,920 --> 00:34:51,040
Speaker 1: it's a big subject and and like like like anything,

682
00:34:51,120 --> 00:34:53,359
Speaker 1: you should need to educate yourself before you make these

683
00:34:53,400 --> 00:34:56,520
Speaker 1: big decisions. And so hopefully this conversation has definitely helped

684
00:34:56,520 --> 00:34:58,200
Speaker 1: you out. Now. I know you talked about Kim McRoy

685
00:34:58,280 --> 00:35:01,360
Speaker 1: dot com and that market disruptor piece that's eight. Obviously

686
00:35:01,400 --> 00:35:04,080
Speaker 1: your YouTube channel has a ton of great information as well.

687
00:35:04,600 --> 00:35:06,480
Speaker 1: Anything else that you want to kind of throw out

688
00:35:06,480 --> 00:35:09,680
Speaker 1: where people could follow you, Yeah, yeah, just uh well

689
00:35:09,960 --> 00:35:12,080
Speaker 1: mc Companies is our company, if you want to take

690
00:35:12,080 --> 00:35:13,799
Speaker 1: a look at what we're doing, you know, on an

691
00:35:13,800 --> 00:35:17,480
Speaker 1: investment side. The but most of the education stuff is

692
00:35:17,480 --> 00:35:19,200
Speaker 1: that we're on kin mac dot com. And I just

693
00:35:19,280 --> 00:35:23,640
Speaker 1: want to say, this is the greatest time, guys, even

694
00:35:23,640 --> 00:35:27,160
Speaker 1: though things are really high and you know, and there's unemployment.

695
00:35:27,239 --> 00:35:30,280
Speaker 1: The rates are low though, and it's the greatest time

696
00:35:30,320 --> 00:35:32,080
Speaker 1: to be able to there's gonna be a lot of

697
00:35:32,120 --> 00:35:35,440
Speaker 1: money changing hands in the next four or five years.

698
00:35:35,560 --> 00:35:39,960
Speaker 1: And and the key to this whole thing, in my opinion,

699
00:35:40,040 --> 00:35:42,759
Speaker 1: the people that will emerge are the people that are

700
00:35:42,760 --> 00:35:44,919
Speaker 1: going to be studying and staying ahead of this. I'm

701
00:35:44,960 --> 00:35:49,399
Speaker 1: telling you, so congratulations on on on watching this kind

702
00:35:49,400 --> 00:35:52,200
Speaker 1: of stuff. If you continue to study, you'll stay ahead

703
00:35:52,200 --> 00:35:55,480
Speaker 1: of this great Thanks so much, Ken. That's ah, that's

704
00:35:55,520 --> 00:35:58,279
Speaker 1: that's such great advice to leave with. It's the days

705
00:35:58,320 --> 00:36:00,399
Speaker 1: of just closing your eyes and throwing a dark are over.

706
00:36:00,600 --> 00:36:02,120
Speaker 1: But if you put the time in the effort and

707
00:36:02,280 --> 00:36:05,839
Speaker 1: like Ken just suggested, uh, you have a great opportunity.

708
00:36:05,920 --> 00:36:08,440
Speaker 1: So without go ahead and wrap it up. Thanks so much, Ken,

709
00:36:08,440 --> 00:36:11,960
Speaker 1: appreciate your time, my pleasure. Mark always great talking to

710
00:36:12,040 --> 00:36:24,839
Speaker 1: you man. Yeah,