Podcast Transcription

Erwin Szeto [00:00:07] Everyone’s talking to the real estate investing show called The Truth About Real Estate Investing. My name’s Erwin Szeto. This week when we got this episode is titled From Back Injury Flipping Corvettes to Full Time Investing Prr Investor with Randy Cabral. Before that, a quick update. This last week I lost money doing stockbroking. I’ve always endeavored to be transparent as possible without putting anyone at risk. So last week I lost 1400 dollars useful stock hacking. I’ll cherry turned in another four figure weekly profit. And combined, we were actually still positive on the week. This competition, if you can call it a competition, is love. Serving eight can be love serving nine free tennis fans. So I am losing either eight weeks, 0 to 8 weeks or 0 to 9 weeks. I’m starting to lose count. So terrible for me, right? Stockbroking is just a terrible thing. And then what happened this Monday was Ashley made a 20 $100. So I’m actually up in I’m averaging close to $1,000 US over the last, I think six weeks. So I’m on track to recover my losses from last week and also turns more profits for this week in what has been a fantastic side hustle for sure. You I especially during these trying times. We’re actually setting up some decent goals for our trading. Kerry wants a pool, for example. I said, I don’t really want to spend the money for a pool when I can make money with money. So I asked that we make affording a pool a goal from our specifically our stock tracking. And keep in mind, folks, real estate investing is still the best investment possible. It’s just tough to beat the cash flow stock tracking right now and the opportunity that’s available. The funds that we’re using for stock tracking comes from real estate, and our next significant funding will again be from our real estate to enable us to do more stock action. So these trying times have caused problems in our real estate portfolio as well. I’m quite sure that the value of our commercial property has gone down since we purchased it in February. So the haters that are out there, you’ll be rejoicing that I’m losing money. I lost money last week and likely losing money on my real estate investment property. But the good news is my tenant is still paying rent and they’re allowed to reopen on today. Actually, today their offices are allowed to reopen based on Ontario’s plans, Dec fourth plans. So that’s so bad. You know, when you screen your tenants, it’s always a good idea to understand their businesses in commercial real estate. So we actually before we bought the property, we met with the tenant of the property. So their business is they are psychologists and in their business they get paid through insurance companies. So in my opinion, that’s a pretty stable customer. When your customer doesn’t have to pay you out of pocket their customers paying them out of their insurance benefits. So anyways, I’m pretty sure some of my real estate’s lost value, but long term, I’m pretty sure we’re going to be okay. I do find it odd that some haters would waste their time listening to this podcast and then leaving me really awful reviews on my iTunes reviews. So it’s a funny thing because their accusations and are often baseless. Most recently, people have been attacking the whole idea of stock hacking. But I’ve had guests on this show like Lelo and Derek Foster, they’re bestselling authors. They both chief financial freedoms being stock hacking, and they own virtually no real estate aside from their own properties. So I’m not really sure where they it’s coming from because if someone has access, if I meet someone who has success making money and whatever it is they do. I want to hear more about it because if they have a repeatable, customized but they can make a business out of. I’m interested in learning about it. And as you listeners know, we’ve had past guests in e-commerce and cryptocurrency, in my opinion, to the tougher places to make money, which is why we spend a little more time on stock hacking, because it’s been pretty consistent results for myself and a couple of my friends and quite a few of our students as well. A friend of mine who actually has a TV show he’s had had for many, many years, he told me that they actually disabled the ability to comment on all of the social media because he too doesn’t like reading the negative feedback. I’m honestly the same again. Some of the negative feedback posts that we get are completely baseless, and some of them accuse me of just being simply money hungry. That is not true at all. So I’ll give you an example. When we ran the course, when we ran the Stock Hacker Academy 2.0, we knew that the timing of it, it was just following the correction. I knew a lot of past students had gotten hammered in the correction, including some of the world’s most famous investors like Warren Buffett and Ray Dalio. Right. I’m no different. I took a significant loss in the correction. So Terry and I made the decision that we wouldn’t charge students the full price. We charged past students a whopping $100 plus tax in order to retake the course. Right. We actually had some past students pay the full price because they’re willing to pay the full price. We refunded them their money when they realized their mistake. And we find anyone else who did that by accident. We were happy to refund them. And again, it was not about making money for our past students. This is about providing them. The best information possible to ensure that they have great results. And then here’s what one student messaged me last week after taking the course for the second time. This is what he messaged me over Instagram. Begin quote, Man, you have no idea how much this means to everyone learning. This is literally something we’ll all be doing until the very end and will benefit our families. My premiums right now are helping my parents who have lost their jobs because of COVID. Many, many things, end quote. End of the day, those who put in the work will have more success. It’s no different than real estate. I know many people who put in way more effort than I do in real estate, and they tend to generally generate better results than I do. I know hundreds of people who’ve lost money in real estate. I know probably more than more than that who’ve lost that money in the stock market. But, you know, I have clients who also lost money. I’ve lost money in real estate. But you know what? You’ve made a whole lot more money to make up for those losses. It’s why I asked guests on the show. It’s why we started this whole podcast, because I’ve seen many things that have been out there taught that don’t work. And that’s again, that’s why this podcast was created, so we could create a community and we could teach and share best practices so that we as a group, as a community, can rise up, create better futures for ourselves, our families and the communities we live in. Now, speaking of supporting our communities, there are sectors of our local economies that are really suffering, specifically restaurants, services and tourism. I follow this stuff closely just because I’m a bit of a I enjoy reading about economics and I just like being in the know in these topics. There’s a good chance a good number of restaurants will not reopen when COVID is over. There’s a good chance at least a quarter. The stats coming out of the States do not look very good at all. At least a quarter are not reopening. So if you’re able, please go ahead and try and do what you can to help out and be a good patron to these restaurants. Support them, help promote them, you know, just go make your community a better place to live in. For training myself, we have date night tonight, so we will order pickup from a restaurant we like to pick up so that we don’t put a strain on their ability to deliver. We don’t want to eat into their profit margins by having to pay delivery folks. So we’re happy to pick up gives me excuse to get at home and we’ll probably enjoy our dinner at our new office tonight when we go inspect the work that’s going on. And this is how bad things have been so far. It’s really still early in the COVID in this whole COVID world, because if anyone has been monitoring the news, there could be a third wave next winter. So it could be a long time until things are getting back to normal. And already in my city, in Burlington, a well-known restaurant that was open for 30 years, just announced that they’re done, they’re closing their doors for good and was back porch and then in Crocodile Rock in downtown Toronto if you’re from downtown Toronto or spent any significant time there, they know the place I’m talking about. Also, they were there for 30 years now. I’m hoping that these business owners actually own the real estate that they were located in. Emma’s back porch, for example, is right on the lake in downtown Burlington. Parking at our has a nice corner location downtown Toronto. There’s a good chance that owning the real estate was a better investment than operating the business. As a friendly reminder, that’s McDonald’s business. You know, the burger chain with the Golden Arches, they own most of their real estate that the restaurants occupy. And if you think of McDonald’s locations, they occupied great locations. They have corners. They own corners on very popular intersections. They collect rent from their franchisees. It’s a good business. People often think that their burger business. It’d be interesting to compare how much money they made from the burgers versus the real estate. Onto this week’s guests My friend client I remember real estate investor captain manager Paul. He’s a great guy. For years he owned and operated a large steel construction company that even took on government contracts, big contracts like, you know, doing major renovations to like high schools. For example, one day, man, he got hurt on the job and he resigned to a desk job at a car dealership. Man, he loves cars and he’s got some good stories to share. As he turned his passion into a successful side hustle importing luxury sports cars, many eventually made the leap to leave his great job to be a full time real estate investor, which is what I really enjoy about man. His application of buying private sales is he doesn’t squeeze the seller for every last time and instead shares with the sellers. He’s quite transparent with the sellers. Often he’ll say, you can get more money by listing the property. And he also tells the sellers the number that he needs in order to make to me, in order to do a deal for a transaction. It makes sense for him to be able to have a profit for the work and the rest of this is swimming. So Manny’s a great guy. So without further ado, I give you manageable a simple house buyers. I mean, how are you doing?

Manny Cabral [00:09:35] How are you doing, Irwin? Always great talking to you.

Erwin Szeto [00:09:38] You get to have breakfast again soon.

Manny Cabral [00:09:41] You know what? I’ve been I stopped skipping breakfast now for the past week. I was doing really good. Lost a ton of weight. I don’t know if you do me, that would really happen, but lost a ton of weight and was all from intermittent fasting. Yeah, no kidding. Oh, yeah, huge. And then I got off of it and then my weight started to come back. I found that if I have. I continued to get hungry throughout the day, and if I skip breakfast completely, I’ll even think of eating. Try it again for the last week and I literally have nothing. I’ll get up, I’ll have water. Grab my coffee. No sugar, no cream. Got to have my coffee. You’ve got to have fluids.

Erwin Szeto [00:10:22] And make your own time.

Manny Cabral [00:10:23] Well, I do sometimes. But you know what? A lot of times I’m just. I’m just going out. The last few days have been crazy. I just got a few months ago. Yeah. Same. I get a house on market on time, a fair and very. Yeah, I started doing that again so I don’t have anything till about 1230, maybe 1:00 am. Very late lunch and then I’ll have a dinner and that’s it. And I took a ton of weight off. I dropped I remember once I went from 235 down to 185 just doing that and it worked and I just kept.

Erwin Szeto [00:10:54] Up, can’t do it.

Manny Cabral [00:10:55] You know, I’ve kept it off for quite a long time. Still think 195 so it’s still far from what I was, but I get to get back to that 185 and drop those £10. Very nice. So and it’s all those things that tennis that we don’t need right when you’re grabbing your coffee that say no everything else you know she said to me today, would you like to get a dream, don’t it? And I said, No, I get to take care of the dream body. Anyway, brief description of myself. I’ll try to keep it as short as possible. My career spans right from high school to construction company. Didn’t do college right at that time, but I went to work for a construction company that specialized in interior renovations. They were pretty large. They own the Dixie Mall, they own malls in Texas and all over the place, a fertilizer company. From there, I served my apprenticeship, my carpentry apprenticeship, ended up doing project manager with them, left. I think about it after my sixth year after I got my apprenticeship license and partnered up with another employee of theirs. And we started the construction company that specialized in designing and building computer room systems around here. We used to build, design and build a lot of computer rooms for interior. Blue Cross Canada trusts all those places, so we’re doing a lot of that anyway. Long story short, had a pretty bad back, not from really enjoying it or anything. I guess maybe just abuse over the years because you know, the latter part of me running the business, I wasn’t doing a lot of physical work, I was just managing my partner was doing management on site and the jobs and I was always building and pricing and dealing with clients and getting the workforce. But he got to the point where it got so bad I couldn’t walk and there was an owner for almost a year and a half, not very mobile, so I went through a lot of therapy anyway. Making long story short, again, I knew a lot of people in the car business was invited to get into the car business. I originally said no. And then the gentleman who owns Nehemiah Shovels is just going to be for a short while. He doesn’t see you back on your feet. Oh, red shirt while attended to. Oh, my God. Must’ve been almost 20 years, maybe about 18 years or so. Went from there, ended up managing one of the largest Honda stores in Canada. Then my last gig was at Team Honda and Bolton, where I actually became the biggest imported of Corvettes in Ontario.

Erwin Szeto [00:13:16] You’re flipping Corvettes before you’re flipping houses.

Manny Cabral [00:13:18] You know what? I was still doing the construction site in the House of Always. Even through my career, I was always doing stuff on the side. Never. It never really left me. It just wasn’t as full blown as it is today. Right. So I stayed in there for a while because I love cars pretty well. Then I started to import tons of cars from Corvettes, Ferraris, Lambos, Aston, Martins, Porsches. I remember I had so many sports cars in the show on time that on account of they came down and gave the ownership. Got to get these cars out of his on a dealership. But we had to take a lot of the cars out of the showroom and put them outside the dealership. And the dealership was a little he represented the Honda side and it was wrapped like 15 Corvettes and then five Porsches and a couple of Lambos. It was crazy, but it was a lot of fun. I was doing a lot of engraving, imported boats. Just so what if I could make money in cars? Make money on boats? I started in four boats. I was selling boats as an honest and it was great. We actually got to be the biggest seller of used Corvettes in Ontario, our Honda store. It was crazy. And we even, you know, branded Ontario Corvettes dot com. It was all my idea and so it was pretty cool. Anyway, going from that, I was always dabbling on the construction site because that’s in my blood. That’s what I know. And my older son Matt was running a small construction company. His only had finished college and taken engineering and all that stuff. So I sort of talked him into, you know what, we should probably team up and I’ll help you manage and get going again. And it builds up and it got to the point where we got so busy that I had to resign and take the golden handcuffs off and then I had to go full bore into the into the construct. Side by side, stuff like that. So that’s where I am today and start doing a ton of second legal suites since I was in the business and knew the code and all that stuff. So it’s pretty easy for me doing a ton of that and some custom home renovations and into it into flipping which are doing quite a bit of right now and buying off my properties and all that great stuff. I actually was selling 11,000 fliers today.

Erwin Szeto [00:15:33] What areas?

Manny Cabral [00:15:34] All in Simcoe? This was strictly in Barrie. I did 3500 last week and today it is, you know, 11000 hours or just blanketing the area. And Monday I’m going to be spending probably the better part of my day up in Midland, really starting to study and learning. You got to expand a bit. I mean, there’s only so many properties you can buy in an area and I want to get into.

Erwin Szeto [00:15:57] That bigger city.

Manny Cabral [00:15:58] Very well. Midlands, even smaller cities, those are really about I mean I want to expand into all of Simcoe County, right? And I’ve bought houses in, in Barry where people are taking a flier and that area is not going to work is the more expensive home. Low and behold, I bought one not too long ago in one of those nice areas where people told me not some. Yeah, that’s going well, so we’re pretty busy.

Erwin Szeto [00:16:23] For listeners benefit explain what’s on the flier. And it was a good one.

Manny Cabral [00:16:27] On the fliers, we buy houses. The cash theme. I don’t get into the handwriting stuff. I mean, that stuff, it’s pretty professional, but it’s pretty simple. And it tells people, I’m a local businessperson and, you know, I do renovations and flip homes up there and I can close in 15 days or as long as the seller wants. That’s for the I’m not a wholesaler, so I’m not going to tie up their property and kind of sign is everything that I’ve bought so far. Not to say that I’m not going to sign something because it will get to the point. That’s why I started the buyer’s list a couple weeks ago where I may have more properties than I can physically work on at the same time. So I’m going to have to make choices at that time. Do I hold on to the property or we just assign it now, you know, get what I can get and just move on to the next one. Because of the marketing that I’m doing, it is working. I’ve got a 5000 dollar referral on there and that’s the first thing you see when you get like my flier just sticks. And actually, you know what? I got a copy of this. So that’s sort of what it looks like. You can see that there. Mm hmm.

Erwin Szeto [00:17:28] So the folks listening to this, this is the benefits of watching the YouTube.

Manny Cabral [00:17:32] Right? So it says get paid 1500 dollars.

Erwin Szeto [00:17:36] That’s pretty noticeable.

Manny Cabral [00:17:38] That’s the first thing people say. So, you know, let’s face that most people throw this shit in the garbage face and get it in the mail. They see a flier, they throw it. And so the reason I did that, I know that’s going to happen is just to give it a little bit more shelf life interest that maybe I’ll put it away if I know somebody and I have bought a house from that 1500 dollar referral, which I would be paying on Monday, is somebody who actually, for me do house calls. We’re on a monday.

Erwin Szeto [00:18:00] So anyone listening, so Manny has it in red font in 24 inch font or some 24 fonts or something like.

Manny Cabral [00:18:06] Yeah, it’s, it’s pretty big, pretty big letters font on that. It’s pretty big letters. So I wanted that to stand out for some people see that first instead of just tossing in the garbage, right? We’re doing a lot of that blanketing Simcoe with the with these letters. I talk to everybody. I mean, I’ve got an old fellow up here goes around getting appliances from people. So they called me one of my places to pull out all the appliances. Right. This is this guy’s got a ton of houses picking up appliances from all houses. So he’s now all excited. He’s wearing my hat and he’s got my jacket. He’s got a ton of these letters in the house and call me every day, tell me all the houses that he’s dropped them off. And any time he picks up appliances, he’s hanging over the letter. And I actually had an appointment today from someone that the end of the letter to you pick up someone’s truck. Mm hmm. It’s just about marketing and talking to everybody about it, getting out there. And I think being honest with people, too. I’m pretty transparent when I go see a customer at their house or the seller should say, and I probably talk myself out of some deals, which I know they do, because I like to explain to them there are other options and I do that in every single house. I just don’t go in there and say, Is what I’m going to pay for your house? The one I just finished today, I actually hit the market Monday. That lady had three different letters and it looks like we’re all the same price. And I asked her, Why did you end up selling the house to me? And she because I couldn’t stand the other two guys that came here. So I went in, built a relationship for her dog and became best friends. And all of a sudden, you know, it’s about being transparent, building relationships. And I don’t expect to buy a house and I can’t buy a house. But you know what? You never know. We know down the road and she’s already called me. So they told the lady down the street about you and she might be calling you, so it takes time to build it. The wholesale gig is not easy, like a lot of people think it’s that easy. It’s not on the hustle, it’s not an easy gig. It’s a lot of hustle and you got to send a ton of stuff out and you got to be consistent because you can’t put it out once and said, Oh my God, you spent two grand on flowers and I got nothing. Well, guess what? That’s the business. You got to do it consistently over and over. Last week I just targeted the neighborhood that I’ve targeted twice already is just consistency. And I’m building up a plan where once I get that last neighborhood, the fliers start back first. I just got to continuously keep on circling. And I don’t depend too much on the bandit signs. I have them, but I really like using them up here. I don’t know. I just don’t find them to work as well as in the mail or campaign. It’s working well for me. So I’m going to I’m going to stick to what works. And we’re working on some YouTube stuff and some Facebook marketing stuff with Darren is looking after us. We’re working on the videos for that right now.

Erwin Szeto [00:20:46] So maybe for the listeners Benefit Bandit Signs are those signs that people put up on lampposts, for example, we buy houses.

Manny Cabral [00:20:54] Yeah. Or those yellow signs we put on lines and stuff and you get a lot of flak too from the city. I know we had a couple out in Hamilton and I got three calls from Hamilton. By law, you know, every time we take one of your signs off or find the box or whatever. Yeah, I don’t know. I just. I’m not bothering them that much, to be honest with you. I’m just sticking to my marketing, my letters. And we’ll be doing some online marketing and some YouTube stuff and just a lot of word of mouth. And everybody I talk to; I’m giving them my letters. I just like I say. No. 11,000 today. I’ve got 50,000 being printed next week. So we’re going to really, really get out there and make it happen. So now it’s going great.

Erwin Szeto [00:21:37] And using a post.

Manny Cabral [00:21:39] To deliver them. I’m using Canada Post. I’ve got a pretty good deal with them, about $0.08 per order right now to get it. So it’s pretty good. We get deals with Canada Post. I just signed a six month deal with them, so basically for the next six months I can send out as many fliers as I wanted $0.08 a copy. When I first sent out my first couple of letters, it cost me a big around 12.8 or $0.13. I think it’s 8.3. Now, this is not a six month deal with them. Pretty cost effective. It does work. I mean, I’m not at the scale that some guys are out there doing, but I’m also focusing on keeping most of these properties and renovating and flipping ourselves. So we’re not wholesaling for the most part, the properties we’re keeping them. So we’ve got a total of four flips going on right now. One is completed today, actually, it’s the market one day. But then the real estate guy just called me and said, I got an agent who wants to show it before you hit the market on Monday. Can we show us? I think they’re showing it right now. Is it? Sure. But, yeah, it’s going well. It’s busy. It’s a hustle, but it’s hard to get home. But I enjoy it. I really, really do enjoy it. It’s something that I love doing. So it’s nice actually up here because most of my properties are literally five, 6 minutes from each other. I can bounce around them in three different deals and they’re so close by, so they’re really easy to manage. And I’ve built a pretty good team now and very which I didn’t have. It took me a while to do this. The most fun teams out in Hamilton, as you know, and that’s out there full time. So I’m basically letting them take care of full time stuff and Hamilton And I’m doing this stuff and Barry still getting handles, of course, another single day. We still getting enjoyable. It’s busy. I like it.

Erwin Szeto [00:23:20] For the listeners benefit. How many hours are you putting in because you hustle? I don’t want I want people to think this is a four hour.

Manny Cabral [00:23:26] Work week here. I was there 13 hours today, 14 hours yesterday from early morning to the time I got home. But I do what I got to do it. I never ask anybody to do anything that I wouldn’t do myself. So I got to get down there and scrub the floor to get something done. I’m down to doing it. I get down there and I do it. Sometimes I get home and it’s like you physically work and say, Hey, Brian Vollmer does it, but I enjoyed it. I mean, he’s still a carpenter by trade and still get it. I like it. I mean, I realize I can’t be doing it all the time because my work is get out and get deal finding the deals. I can’t be stuck in the properties all day long. I know I wouldn’t have that. There is times in between when I’ve got two or 3 hours to kill where I can help the guys do stuff and I’m out there doing it, even if it’s doing a garbage run with one of my dump trailers. And if I got to do it, I got to do it. So obviously I don’t want to do it all day long because I got to look for that deal. But it’s a hustle. It’s not glamorous HGTV stuff, even though I love it. It’s far beyond that. But you got to enjoy what you do. It is successful. I got to believe that if you don’t, you’re not going to be successful. And I. I enjoy that for a lot of hours. I come home and I’m tired, but I feel fulfilled. I had a good day, exciting day. It’s been good. It’s been good.

Erwin Szeto [00:24:40] Really. At this right out of high school, you always had, like, side hustles. I’m talked to you.

Manny Cabral [00:24:45] Yeah. You know what? When I. I had a partner, when I went right out of high school into the construction industry, my partner was big into real estate. I was a young guy. I didn’t have money. I could do the stuff. He was doing that. But he taught me a lot of stuff and I remember him buying stuff in the markets were down and things were not good. And I used to tell him, Andy, like you’re buying all these property, using your flipping them, because sometimes if you working on one of those flip properties in between, if we were waiting for something to happen on one of our projects and he says, How do you do it? Like the market’s crap right now, he’s like, You know what he says? All I can tell you is, no matter what you buy today, ten years from now, you’re going to say, Jeez, why? Didn’t know what that was just philosophy. So you had properties all over the place and we were always dabbling with something with his guidance at the time because again, I was I was young, 20 years old, 19 years old, 21, 21. I got married, but I bought a couple of properties with them and we flipped a couple of properties. And then later on I bought quite a bit of stuff of my own, but I didn’t have the same mindset that I have today. When I was buying properties, it was more looking at appreciation and not looking at cash flow and the proper cities and the reason to buy that property. I just bought property that thought it was great. And the funny thing is, even though I did that, I never lost. It was kind of cool as well. I bought this property not knowing anything. I remember having three rentals up in Laguna City, which is on the north side of Lake Simcoe. It’s a little retirement community town. Of course, those properties are not going to go up in value since retirement, but they were cool properties around the water and so on and so forth. And I bought three of them and we had them for a while, sold them and it was money. No way I. He made money and the property didn’t go up in value that much. So I said if I could do it blindly, imagine what you could do with guidance and knowing what you’re doing and being taught, you know, from people who have actually done it. And I started thinking of cash flow and all that stuff was a whole different mindset. So we had quite a bit of a change from how we used to buy a property to buy today.

Erwin Szeto [00:26:45] How do you buy a property today? Like what kind of math are you going through? When you say you meet someone, someone calls you up off one of your fliers and then you meet them. Like how you how you running the numbers?

Manny Cabral [00:26:55] So I have yeah, I have a specific number on what I want to make on a flip and that number is 40 to 50 grand. Great. So for me to make it worthwhile, it’s got to be 40 to 50. And let’s face it, the market’s great. But, you know, flipping is not actually investing really. I mean, flipping is quite business. It’s business. It’s an active income. You don’t know. Things could be great and some crazy catastrophe you have. You don’t know what the market’s going to be, three or four or five or six months down the road. I mean, you could guess on it, but you don’t know. So I like to be safe. I know there’s flippers out there. I talked to you today and he says, you know, if I could make 25 and 25 grand is just getting the risk for me. I would I wouldn’t touch it, but I got to be minimum 40 to $50000. Right. And that’s how I work my numbers. I always read 40, $50,000. I back up my renovation costs, which, you know, by walking through a property. I know what it is. It’s not going to take me hours to figure out what the property is going to be evaluated, what the renovation is going to be. And I look at my I look at my carrying costs from my lenders. I look at my realtor costs when I sell. But I take everything in consideration, the land transfer tax, all that stuff. And I back that out. And if I can see a 40 to $50000 margin, that’s a good property. Knock on wood, I haven’t failed once yet on those numbers and so it works out pretty well. But I figured out a formula where I can basically it takes me seconds to figure out what the total rehab and costs and all that stuff is. Just based on what I’m paying my lenders right now, I can bring it down to even a 4000 base. I know what a $4,000 is going to cost you to sell legal insurance, but that’s all I got to do for my rehab and use your number. And that’s where I put my offer. But it’s a 40 to 50000 range is right for you. Right?

Erwin Szeto [00:28:40] You can do that math on the spot. Then you’re not going home and going home into a spreadsheet.

Manny Cabral [00:28:45] No, I can do that math on a spot. As a matter of fact, I think I got a clip on your webinar with I Win that actually shows that math and how you come up with it. So it’s pretty simple. So you’ll know $100,000 house is this much of 200 is that much that much and it’s very, very simple to do. Right. And it’s not going to be perfect. And I’m going to be right down the dollar, obviously, because land transfer tax and stuff like that changes a little bit. Right. And especially if you buying a house in the city of Toronto, it’s double tax. I don’t bother. You got double tax rate there. You get to the two entrance with taxes, so you got to look at those things. But in the areas that I’m buying, I got a pretty good formula. I can pass by a house and say, Yeah, that house I got to pay for rent. That’s all my costs, not including the rehab. And all I got to do is we have done that. So then I can literally do that immediately. The House we’re finishing today, I literally bought that house the same day I went to see the lady, got inside, negotiated the deal. She was happy with the price went back and forces how quick can we do the paperwork and says, do you have a pen? Would you like to bring one? I ran out to my truck, brought in the contract, brought it up, gave her a check. The deal was done right there. And then I don’t I don’t even want to go home and tell her I’m going to give her a price that makes me a lot of people. So I got to do it right away. You got to strike while it’s hot. Those other people out there and the one that I close on Monday, same thing. They called me up. I was driving up to 400 actually from Hamilton about a month ago and he called me up. Can you come and see my house is would you like to see it as well? I go to work at 3:00. I work at the Honda plant. This was about 115 them in the highway. And he says, well, I’ll be your house in about 40 minutes isn’t really. I says, yeah, I forgot there. Same thing chatted for a while and I like to get a little bit personal with the with the sellers as well to make them feel comfortable. I let them do their talking and I don’t interrupt. So walking around the property, they’re talking a bit about your life and you’ve sort of built that little relationship. And all of a sudden, I mean, this guy was so happy that he started giving you kind of these really cool things in the house. And one of them was the real cool one, these double hockey tables they want to get from basement. We have this thing down his basement. I’m like, this really cool. This is. You like it? This is. Yeah, this is. It’s yours. It really is. It’s been in the house. So to get home at all, this is funny stuff. Just building relationships. You got to make people comfortable and you don’t want to make it look like you’re trying to. Take your house away from me. I’m helping a lot of people, a lot of senses, because they’re in situations where they may not be able to put the house on MLS or really quickly. So and again, I’m transparent and always explain to them the different options of actually selling their property at the time and talking myself out of a couple of deals. But I still feel good about it. But I mean, I had a couple last week that I went to visit 77, one beautiful house, and they just called me out of the blue because they got the letter. And after talking to them for a while, I said, You know what? You don’t want to sell the house. This is why. This is what guys are 71 years old. You’re retiring. You’re moving to Small World. Why would you want to sell your house to me? That big of a discount when you could put your house in MLS? This house is going to sell really quick because it’s such a clean house. You’re probably going to get 67 grand more than I can take it. And I have three confidence in the House and they’ve called me twice in the last week just to set up a conversation and to thank me for guiding them in the right direction, all that stuff. You know what? I feel pretty good about that because now I know that they’re going to have that much more money for their retirement. There was no need for them to be in to sell the house. I could have gone in there and gave them bullcrap story about not going to get this in MLS. But the reality is, I know that they will and I know the market up here is pretty strong and there’s is a shortage of single family homes in that first time buyers range. There’s nothing that. So I’ve done that more than once. So but I still feel good about doing that.

Erwin Szeto [00:32:54] It’s awesome, really. I don’t like other predatory investors out there. I seemed to ask you earlier. The first person you were talking about, how they sold to you because didn’t like the first two people ahead of you. One of the people I know.

Manny Cabral [00:33:06] No, as a matter of fact, they weren’t people that I know. And one of them has a sign up here in Gainesville. And I don’t know who he is and never heard of him and the other fellow. Same thing. It’s nobody I think either one of us know. I don’t know these guys, but there’s a lot of them around. I was at a house on Thursday and talked to a lady and I’m not buying her house either, but we ended up becoming friends. And she’s probably got a list with one of my agent friends up here, but she had three other letters, not letters at her house, but actually door hangers. Door hangers. But I looked at the door hangers and they were crap. She called me and she had my letter from last August in her drawer, and that’s she calling me a great house. But again, the number is probably close to buying the house from her, but the numbers just don’t work. Mm hmm. But, yeah, and I didn’t know those two, and I know a lot of them out there, but those particular two, I did not know.

Erwin Szeto [00:34:01] And you have some full time staff that do work for you. So are they different employees or are they contract? How’s it how do you build your team?

Manny Cabral [00:34:10] Two of them are for the rest of all contract, but basically contract it over working for me full time. So they like to keep it that way because they sort of feel they’re running things or they’re on their own where they’re able to write off a lot of their expenses or gas or equipment and stuff like that, which works out well for me too. But they’re all great guys, and it takes a while to build that team because I’ve gone through their team members, believe me, like everybody does, it’s very difficult. Everyone’s got issues hiring people. I remember going through I don’t know how many in Hamilton. One of the biggest issues, every time I had a guy who said he was great, he didn’t have transportation. And I’m like, What’s wrong with all the trains in Hamilton? They get all the driver’s licenses and it I went through numerous guys like that, you know, Oh, my wife can drop me off or my sister can drop my places. No, they can’t. There’s going to be they really need to be dropped off. They don’t have it doesn’t work. You got to have your own transportation. You got to have your own stuff. I mean, there’s certain tools that we supply. Of course, you got to have your regular everyday stuff and you got to have your own wheels. Otherwise it does not work for me. So yeah, I got a little bit of both.

Erwin Szeto [00:35:17] How do you decide this is what they want?

Manny Cabral [00:35:19] Yeah, some of them, that’s what they want. They’re comfortable doing that and it allows them to maybe keep a little bit more money in their pocket because they’re able to write a few things off. Now that you technically sort of subcontractors, even technically, I guess if you really dissect into it, if someone is working for you as a subcontractor but they working for nobody else, they’re technically an employer. Technically, yes. Yes. There’s issues there. So I’m careful with that. Where with some of them, I say, yeah, no problem. But you know what? I want to see you work in a couple of weeks for someone else a year, whether it’s two days or one weekends or a weekend or whatever. And then even then, technically they’re not.

Erwin Szeto [00:35:58] Then you’re good.

Manny Cabral [00:36:00] Good. Sweetwater It works out well. It’s a good process. And we’ve gotten to the point now we’re sort of got those teams in place. And I went through that and very as well. And now I’ve got a pretty decent team and very that I’m really happy with and it’s working fantastically excellent.

Erwin Szeto [00:36:15] And just the disclaimer and I know, I know when you give me accounting advice, you know.

Manny Cabral [00:36:22] So I’m the last guy you want accounting advice from finance guys. And I hate accounting. I hate accounting. My idea of accounting is taking all my junk and a shoebox and throwing it at my talents or you take care of it. Yeah, that’s what happens a lot of time and it costs more money because I was trying to dissect everything, but I don’t have time for that stuff. I mean, I’m out of the sights of picking something up. I don’t have time for it. I’m not an accountant at all, so I’m the last guy. You want any type of accounting, but it’s not me.

Erwin Szeto [00:36:54] We’re having finding people to hire in the Facebook video.

Manny Cabral [00:36:59] Actually, not most of the people that I’ve hired of all they’ve all been sort of word of mouth. I mean, I have a great plumber who recommended me to his brother, who’s a great trades guy, and his brother is a fantastic drywall and stuff like that. So it’s taken a while to get to that point. But most of them have been recommended by somebody maybe that we’re working with. And that’s our, you know, in the beginning or years ago, were always trying to find somewhere and do whatever. But, you know, most guys who are really good are working out how to work. So it’s good stuff. And to get good quality guys pay the money. I mean, they’re not $20 an hour, guys. It’s like everything is expensive. You’re not going to get a great trades, guys, $20 an hour. It costs big money; some trades go and stuff.

Erwin Szeto [00:37:41] What’s the going rate?

Manny Cabral [00:37:42] Oh, Carpenter. 35, $40 an hour. Right. When you got them on for your plus rate. So it’s expensive. Mm hmm. It’s not cheap.

Erwin Szeto [00:37:53] Do you believe it’s not enough tradespeople going to school?

Manny Cabral [00:37:56] Well, no. I mean, who wants to go to school for being a trader? Everyone wants to work behind a computer or something. I don’t blame them. There’s other ways of making money out there. There’s a lack of trades people on 100%. I mean, I got this free kid I ran into up here who just got his plumbing license and I’ve tried him on a few jobs. Is working for somebody right now and he’s doing some stuff for me on the side after work on weekends and I’m talking to him right now. Just come work for me for that fantastic job. Works as hard as hell. Just the young kid just got the license on the work that he’s doing. Plumbing and just spectacular in his heart of this kid full time. But I have my own in-house plumber, so we’re talking about that right now. So we’ll see how that goes. But I’d love to have him on board. And that way I can have my own in-house plumber. And he’s the type of guy that we’re not busy. I mean, he’s doing other stuff like he’s doesn’t care what he’s doing, but so far the work he’s done, like some of the stuff he’s done for me, I’m looking at him like it’s stuff that guys are doing it for 20, 30, 40 years. The duties, he’s really, really, really particular about what he does and really, really fantastic photo relationships. And that’s how I got most of my guys. I mean, one of my other guys that works for me up here is one of my tenants is in one of my properties up here. That’s I actually met him through a tiler up here that was working on my house, referred me to him to do some work for me and became did some work for me. I really liked it and after struggling for a while, tried him on a few other things and it worked out really well. So it doesn’t hurt that he lives in my place and take care of it as well. And after snow or grass or any good stuff or even maintenance, he takes care. And so it’s great. And there’s another great trade guy and I got lucky with him working for him. So cool. All the relationships.

Erwin Szeto [00:39:44] Are you making more money now than when you were working in the car dealership world?

Manny Cabral [00:39:49] Oh, 100%.

Erwin Szeto [00:39:51] Oh. You should start sooner.

Manny Cabral [00:39:54] I did well in the car dealership world because there was an upper manager position and did quite, quite well. My paycheck was pretty, pretty hefty. It and it’s tough to take those golden handcuffs off. But at the end of the day, it wasn’t just about the money. It wasn’t just the money when I left, because even when I left, the guys were saying, Oh, you’re crazy. You’re walking away from the job that most of us are killing to get what we’re not going to get six years to get there. I’m like, You know what? It’s not about the money. It’s about the lifestyle. I put in the hours working every day. I worked every single Saturday and I was in the car business, so I didn’t have a weekend cottage on the boat and can’t enjoy it. So it’s about time spending time with your family, spending time yourself and getting out there and doing stuff. And I do that more right now. I get on the boat, I can work off the boat, take my laptop, I got my wi fi and everything on there. Couldn’t do that chore. But once I head out for a couple of days, I can do it. So we’re managing our own time. It’s a lifestyle. So it’s not just the money, but it allowed me to do the things. I mean, real estate, what I’m doing is allowed me to do the things that I enjoy doing. So it’s that as well, it’s not just the money. The money was great, but yes, I’m making more money. Yeah, I mean, the companies making more money, I absolutely mean, I’m not necessarily pulling it out. You know, a lot of it goes back in there and reinvest that. Yeah. Between the flips and the construction side and everything else, you absolutely were doing okay.

Erwin Szeto [00:41:15] I mean, very few of the boats in the summer on a weekday.

Manny Cabral [00:41:18] Absolutely.

Erwin Szeto [00:41:19] At the best when the boat club’s empty.

Manny Cabral [00:41:22] So I know. I know. I got to hold a couple of events up there as well. So.

Erwin Szeto [00:41:28] Do you prefer the club boat club on the weekend or the big day?

Manny Cabral [00:41:31] A weekday for sure. Weekend as well. I don’t mind the week then once in a while, you know, meeting people up there and stuff like that who really get a lot of use out of it. Weekdays. Weekdays are great because you get on the water and the water is not as rough. There’s not as many idiots and jetskis flying around and boaters who shouldn’t have no business being in the boat. So you avoid a lot of that on the weekend. So the waterways are much nicer, much calmer, much safer on a weekday. So I love getting up early days and a lot of times you do. My wife and I will just take off for the day and open. Have a couple of drinks, take my laptop and throw the Barbie on and. Yeah, and I wasn’t able to do that before. Right. So what price you put on that I can’t put a price on. Right.

Erwin Szeto [00:42:12] Yeah. That’s, that’s the lifestyle benefit of having some flexibility in your time. I love being able to do stuff on weekdays whenever possible, for example, driving up to 400. Yeah, it’s nice to do it on a on a weekday than the weekend.

Manny Cabral [00:42:23] Oh yeah. Yeah. Especially if you had itself in the morning or north in the afternoon.

Erwin Szeto [00:42:30] Versus we can come up on a Friday morning to come to your book club. I mean, his book club is in the heart in the city now.

Manny Cabral [00:42:36] It’s in La Croix, which is a town still.

Erwin Szeto [00:42:39] It’s so many lives up to 400. So if you go visit him on a Friday morning and it’s no problem, it’s perfectly fine come Friday afternoon. Disaster.

Manny Cabral [00:42:52] Yeah, it’s a lifestyle up here. We get more snow. We of course we get more snow. I mean, I remember going down to Vaughan around Christmas and there is there is nothing because that’s where it came from. And we get it after the snow. But you know what? You deal with that in the wintertime. But summertime, it just the benefits that we get up here is just it’s just great. You know, the parks and their waterfront is beautiful and the waterfront is beautiful and we try to spend as much time out there as possible. I was actually at the waterfront today taking a lunch break. We went to the house and I came home to grab a couple of things and picked up my wife, went to go to Homesense, grab a couple of things to put up with the house and.

Erwin Szeto [00:43:27] To state your property.

Manny Cabral [00:43:29] You know what? I really didn’t stage in that stage, but sort of make it a little bit homier. We put a few pictures up and a couple of little plants and knickknacks in the bathroom and towels and stuff like that. It just makes it look that much nicer in some of the walks. And I’m not putting any furniture in this place. Not that I don’t. The one I’m working on now, I will. It’s a much bigger, different property. But on this one, I’m not going to do that. I don’t think I’m going to need to do that. I think it’s gonna sell a couple of days. Yeah, we ran down to grab a sandwich and parked go to the waterfront and no, we’re not looking at water or looking fishing huts. It’s like tent city out there just along Campbellfield Bay, which is kind of surprising because I mean, about a week ago I started to see the tents out there. I’m like, Holy crap, this is like two weeks ago or three weeks ago that Campbellfield Bay was wide open. So I don’t know how thick it is. I’m not a fisherman, I don’t know anything about that, but I wouldn’t want to be driving a lot. You can’t drive being out there. The ghost is not thick enough. But yeah, I sat out there and had a sandwich and went back to the house and finished up and we got back home. I guess it must’ve been 7:00 when I got home and the other long days. But I enjoy them. You work hard and then they got to play hard to do that too. So the balance both.

Erwin Szeto [00:44:42] In the you raised money at your boat club.

Manny Cabral [00:44:45] You know what? Funny you say that. I have not raised money at my boat club. Oh, because I’ve never promoted at my boat club. Okay, okay. Right. I’ve never had events up there. I’ve never really told a ton of people what I do, only now they’re starting to see what I do. I started to ask a lot of questions because I generally went to the boat club. It was just to have fun and I didn’t really talk a lot of business, which is probably not a smart thing, but it’s just the way I felt. Then people started to ask what my cash flow has and all that stuff, and. And now they’re like, Oh, we didn’t know you do that. Oh, no, I want to know more about that. I think people on my street now are getting to know more about what I do because I live in this really cool little subdivision where everybody knows each other. It’s very, very, very tiny. So, you know, going to be really good friends with most of our neighbors. All great people are about our age. So now I’ve got a lot of people saying, hey, we’ve got to sit down and talk because now they’re all following me on Facebook so they see what I’m doing and all this is kind of cool. We like to invest as well, and so I’m starting to do more of that now. Most of my investors I met through doing projects and stuff like that. So that’s where I’ve got most of my money lenders and I’m working, trying to work a big deal right now with the money lender. I don’t want to shoot myself in the foot, but it’s actually Darren and I had a meeting with him last Saturday, so that works out. It’s going to be huge.

Erwin Szeto [00:46:06] They want equity, you.

Manny Cabral [00:46:07] Know, they don’t want equity. And they approached me following me on Facebook and Instagram. It’s a mortgage company that you just reached out to. And so he can we talk? So we’ve been in talks right now. So now we’re filling a bunch of stuff and coming up with a business plan for them. And basically make a long story short, it’s basically going to be them provided me with an unlimited amount of funds whenever I need it.

Erwin Szeto [00:46:32] But also.

Manny Cabral [00:46:34] Though, that’s in.

Erwin Szeto [00:46:35] No details when.

Manny Cabral [00:46:35] It hasn’t happened yet. So we’re still working. But, you know, they came to me, I didn’t go to them. And we’ve had two meetings now and the original friend guys I’ve had the meetings with have presented it to their investors and they tell me that their investment portfolio is huge. It’s in the billion range. So the amount of money we’re talking about to them is nothing to me is huge because we’re talking billions. It’s huge. It’s nothing. So we’re working on a plan right now and the whole logistics of how it would work, but we’ll see how it plays out. I mean, for now, I have a couple of great investors that I work with and it’s been working. It’s been working quite well, and I think I have a pretty good gig with them. You know, some people say, how do you get that deal? I don’t know. It’s about relationships. It’s you know, I don’t deal with mortgage companies. I think that’s just all private individuals with some money or who are happy investing in my flips because they’ve all been very profitable and we’ve all been very happy in any time. They’re not invested in one of my four. That’s their colony. Where’s the next limerick? Why don’t you have another one for me? Well, I got to find the deal, guys. Like we’re not going to get your house just to get you interested. It’s going to make money for me, too. So it’s about building relationships, and every single one of them has reached out to me. I’ve never asked any of these people that actually work with save for money. So it’s actually worked very well. But the other deal goes through, it’s going to be huge. Let me.

Erwin Szeto [00:48:00] Know when you get it.

Manny Cabral [00:48:02] Anywhere. No, I don’t know. I mean, I can let you know. I can let you know off the air who is. And you have heard of them? I’m not sure it’s possible, but we’ll see what happens. Like I said, I didn’t I didn’t approach them, but they approached me for the last six months. So we finally got together a couple of times. We’re coming up with a plan. See how that plays out. Right.

Erwin Szeto [00:48:22] What’s your Instagram, Facebook so people can follow along? I want people to have an idea of like what kind of video content you’re putting out.

Manny Cabral [00:48:28] Yeah, well, on my Facebook is Emmanuel Cabral. That’s I am on there. I mean, I do have a primo rental Facebook page and I have a primo investment properties Facebook page, but I don’t post a lot of stuff on there because I have a habit of posting everything on my personal page, which is Emmanuel Cabral, and from there I’ll share the stuff to my company page. What we’re going to be doing a lot more work on the Primo Rental Company page right now, and we’re actually going to be working on a YouTube channel as well. So we’re going to be doing a lot of videos, flipping videos, marketing videos, and I got Darren helping me with that because I don’t have time, so I’m just going by his direction and whenever he’s doing shoots and stuff like that. So he’s going to be putting all that together for me and putting all that in place. So that’s going to be kind of cool. We’re going to try to put everything out there. We’re doing a bunch of cool videos on before and after that works. We’ll get that on the website as well. But yeah, I generally like to post I blast everything on my personal Facebook page. It’s just easier for me because I do most of that stuff myself and I was doing it for me. You know, I mixed my personal with my business and everything on there, and I think it gives people a feel of who I am as a family guy and as a business guy. It’s all that one, all that one page. Right. Those are the two to ease your wants to follow me on. I know Matt just started Simcoe house fires.

Erwin Szeto [00:49:46] Commented that okay I just want to say it’s handy that you raised boys that help you with your businesses.

Manny Cabral [00:49:52] Yeah, it’s funny because the day he did it, he didn’t tell me about it yet. And I got this notification about Simcoe house fires and someone posing as someone hacked my account. I call them. I know that I just created a simple Instagram page. Start putting stuff on there, but it’s difficult for me to post everywhere because I just can’t find the time. Okay, I got to do Facebook, Instagram, I got to do it, you know, LinkedIn, it’s a lot, right? So I generally bombard my Facebook and then share the wealth and then I’ll put it on my personal Instagram page. We’ll build it up slowly and spend as much time on it, or should have, I guess. But I think that one is also Emmanuel Cabral and Emmanuel one on one or something. But Facebook is where I usually dominate most of my content. Dominate Facebook, love it. Well, not dominate. I sure as hell don’t dominate Facebook, but I want to say that’s where I blast. Most of the stuff is on.

Erwin Szeto [00:50:52] Australia Post about stuff.

Manny Cabral [00:50:53] And yeah I’m the less I’m the least dominant guy out there so I’m very, very like a stick, a stand in that big world that’s for sure.

Erwin Szeto [00:51:03] Many more running that time. So if folks want to follow you, where could they find you?

Manny Cabral [00:51:07] Find me on Facebook. Other Emmanuel Cabral. If you want to check out our websites, it’s primo rental dossier and the other one is primo investment properties that see it. They are both linked together. So if you get on one, you’ll be able to flip back and forth. And if you want to check out Simcoe House Buyers Dossier, that’s my house. Find the website. So I’ve got some videos on there and some stuff on their which is actually working quite well with SEO and server rank up here. So it’s working well.

Erwin Szeto [00:51:37] It’s fantastic parents helping with that.

Manny Cabral [00:51:40] No, I’ve been doing that one on my own. Okay. This is going to be helping you boys. Darren’s just getting busier and busier. Busy rooms. Offices is really exploding with business right now, which is good for him moment. But I try to do as much as I can and not throw it on him. So and I don’t mind doing some of the stuff. It’s not a big deal, but the House Buyers website is starting to work. It takes a while to get up there. You know, I’m being random and I’m getting leads off there and I think those leads are great. Even those these are probably better than in the marketing letters because they’re organic. Someone’s actually going out in search for you. But I think also that’s working quite well so they can check out some cool house fires. That’s pretty much that’s.

Erwin Szeto [00:52:18] Where they’re looking online. They usually look for the other usually find the other people as well.

Manny Cabral [00:52:22] Yeah, absolutely. And the guys are spending the most money on the top and I’m going to make sure on that that first page. But yeah.

Erwin Szeto [00:52:30] That’s really neat and it’s super easy.

Manny Cabral [00:52:34] Nothing is cheap. But you know what? You got to invest to get that return right. And you know, every time we get a little bit of money and we put that money back into the business and invested and make it grow and get bigger, that’s the only way you’re going to it’s going to work great. But yeah, no, it’s working great for business, Rick and great and for anybody who wants to get in touch and know how they can invest for us and some of our flipping projects, they can reach out to me and I’ll be happy to discuss it with them and know how we can work together.

Erwin Szeto [00:53:04] That’s good. All right. Any final words of any?

Manny Cabral [00:53:07] No other than, you know, get out there, don’t have any excuses, make things happen and take action. Because if you’re not in action, take her out to lunch. So take action and get out there to Iowa and events because that’s where you going to find all the action takers.

Erwin Szeto [00:53:22] You missed the last one.

Manny Cabral [00:53:24] I know did. And there was a reason why I did. I think I told you.

Erwin Szeto [00:53:27] Yeah. You’re out. You’re. You had a lead on a hot deal.

Manny Cabral [00:53:30] I had a Harley deal, and they called me and I wanted to put it off to the next date. I’m thinking, if I do that, somebody else might get it. I got to go now, but I’ll be at the next one for sure. Excellent.

Erwin Szeto [00:53:40] All right. Thanks so much for doing this.

Manny Cabral [00:53:41] Really appreciate it. Always a pleasure talking to you. Thanks, Mary Catherine. When I.

Erwin Szeto [00:53:52] If you’re feeling confused. After all the YouTube videos, books and forum posts, you’re probably still left of questions. Starting in real estate is really tricky. Trust me, I’ve never been this for a long time, and the real estate’s always forever changing. What our strategy is for 2020 is very different than what our plan strategy was for 2019 anyway. Frustrated beginners often ask how like a basement suite conversions actually work. Most of the time we can only give general answers, but now we can go deep. After this in-depth free class, you’ll learn how to take your first steps as a real estate investor. Nothing’s held back. Everything from analyzing basement suite conversions to renting out your first property for a profit. Even how to refinance and do it all again. More secrets you’ll uncover are profiting at a profit in the hot market in just mobile us to watch out for mortgage terms that favor refinancing when barely use tactic for higher appraisals. And if you’re frustrated unsure how to get started this is for you. Set up now and be the first to know about the next class. You can go register at investor training dossier, slash free class. Again, this investor training dossier slash free class. And just to warn you, you probably want to do this soon. We filled up the first classes we’ve done. We have two booked already for 2020. The first one filled up in 30 minutes. The second one, we don’t know how quickly filled up, but I filled up the first day. So seats are absolutely limited. Demand is completely outstripping supply. So when you go register, when you see a new class opens up, register as fast as possible and hope to see you there. And yes, I will be there personally. Hope to see you there.