Property Management and Being Vulnerable | Real Estate | Ep. 6

Hey, everybody. Flip and Danny here, co founders of the Freedom Real Estate Group family of companies.

Yes. Today is episode six, do you remember, of our podcast, which is real talk, and that is real talk for real estate investors. So we're on a roll. We promised to try and, you know, do this every single week, and you've been getting live every single week. Last week, we were in Washington, D.C. you got the podcast from Washington, D.C. so we just got home yesterday. And so here we are back in our office in the video room. And next week, we're actually coming back from Kentucky. So who knows if we're gonna be in the hotel or back here in.

The video room or in the car.

Or in the car. But today's topic is going to be talking about property management. So I kind of wrote down an idea of a title. I really let Caitlin kind of take the wheel on this importance of great property management, and I kind of tagged on to that because this is going to be a very vulnerable podcast. We've told you guys before, we're very transparent. Just naturally, as people, we don't mind that we make mistakes, and we will tell you we made a mistake and we are going to fix it. It's the type of people we are that you should never, ever hear somebody say, flipping Danny did this without us going. We talked on the phone, and we resolve this right? Like, we should never, ever have a bad presence or reputation because we are very much about, I am sorry we screwed up. It is our fault. What can we do to fix it? And that's the type of people we are. So we're gonna roll that into a podcast today for you, because property management, it's a tough topic. It's a tough business to be in, and we've struggled for a reason getting our property management company up and running. And we're gonna talk through that with you. And at the end of this podcast, we're going to say, hey, us, what do you love? What don't you like? And not even just about us, about other property management companies. We know that you guys have properties everywhere, right? Not just through us, through Dayton, Ohio. You might not even have a property through us, but you just might have experience with things that you love or that you've hated and that you can share and talk about, and it's going to ultimately help us learn. So that's what today is Vulnerable property management day for Flip and Danny.

Yay.

Okay, so Flip, I. We have got, like, five things we want to talk about through this, and Flip's going To start with our past experience and we'll go from there.

Yeah. So it was about six years ago that we jumped in with both feet into property management, needing property management, because up until that point we had never had any experience with property managers or property management at all. And so we jumped in and we did the smart thing, you know, and we contacted three or four property management companies and we interviewed them all and they were all the best, according to them, the best property management company in the area. And so we had to sift through what we heard from all four of them and we picked up what we thought was the best. And that one lasted six months. I think that was the first one. So we got through that one in about six months. And then. So then we had to get rid of that one and then we had to go to another one. And again we did the same thing, interviewed property management companies to see which one is the best. And now we're a little bit smarter because now we know what went wrong. So now we're a little bit smarter. And. And so that one, the next one went a little bit better, but again, just. I don't know if it was six or eight months. I don't know how long they. I think. Well, the last one was the longest one, but we went through. What's the tally? Five, five property management companies. And again, we went into each one and they were saying that they were the best and they had everything done and everything was perfect for us. And of course, after the honeymoon period, we found out that no, it wasn't. The last one was the worst because the financials weren't even in order. The tenants, some tenants weren't even paying rent and we didn't even know it. And it was just. It was a bad scene. There was numerous other things that happened, I think that you knew of that I wasn't even aware of.

Yeah, I can dive into that a little bit. And that one, the fifth one, was the longest before we decided to bring it in house. And it was the longest because we met weekly with this property manager and she came in the office to be able to meet with the team and talk with the team. I think that started slowing down at some point in time because the bigger that we grew, the more you and I couldn't be as involved. And I think for some reason we started getting busy and she wasn't able to make all the meetings and it just kind of died off. But anyways, that. That last one was a longer relationship because it really was a back and forth here's what we need, here's. Here's what we can do. Here's what we're seeing. That's wrong because it was. We were just so active with each other and so it went good and then suddenly when it went bad, it went bad fast. When we found out a couple things were going on from clients and we had to address it and it wasn't getting corrected. Ultimately, it happened so many times with too many clients and we were getting these stories, we were like, crap, we've deal with this. And so we tried to have conversations with the property manager. The conversations didn't result in the answers and feedback and solutions that we needed for our clients. So ultimately we told our clients, we said, look, we're going to help you as best as we can through this period. We're meeting with this person, we're talking to them, trying to get all of this fixed. We're trying to jump in ourselves because we had an agreement that we working with this, this property management company had the right to jump in and help if things were going wrong. But suddenly we weren't allowed anymore. We weren't allowed to jump in and help anymore. So we are just totally cut off. So things got really, really bad and ugly and it was really due to some bad things happening and they all kind of came to the surface. So that's what happened there. We ended up talking, meeting with a broker. We had printed out all of these emails, all these financial statements, all of these, the tenant communications, everything that an owner had, they said, here's all the information, here's the communications that I' here's the financial statements. I don't have this. I don't have this. They haven't been paying rent for this many months and I have never even been told about it. And so it was, it was really, really bad. And we were trying so hard because truly, still to this day, I feel this person has a good heart. They just are not a business owner. And so they couldn't handle the volume of properties that we were feeding them with along with the inventory that they already had.

Right.

So, but we couldn't help anymore. They weren't letting us help anymore. So it ended up being just a situation where we were like, we're going to keep taking every possible step that we can on behalf of our clients. And so we had to notify our clients at that time that said, hey, we're learning this information from other people. And so we're telling you right now that we are working on correcting it and Bringing property management in house. If you would like to stay with the company that you're at right now, you can. But we did not want to be liable for not telling you that there's information. Please look at your books, please look at your property. Please make sure that nothing is going wrong that you don't know about. So that they were aware we were just trying to do right by them and then be in the process of building a property management company, which we weren't ready for at that point in time. Right. And so we ended up even going to the broker's office. I think I was sick that day. So I had to be on zoom for it. And we brought all the documents to them that didn't, it didn't result in much fruit. He understood. He said, I'm going to help, I'm going to talk to this person and we're going to figure it out. But nothing happened. Every time I texted them, there was still no solution in place. And I was like, we can't just keep waiting. So we ended up creating real estate board complaints, which I never want to do. That's like last, last ditch effort. Please just sit down, let's talk, let's figure it out. It's the type of people that we are, the type of people we want to work with all the time because everybody's human, everybody makes mistakes. And as we've already said, we don't believe this person was a bad person. It's just they couldn't handle the business and we wanted to help, but we weren't allowed to help and that was hurting our clients. So we just kind of got stuck. So because of that, we decided that we were going to go ahead and file something because if they weren't willing to sit down with us and work through the problems that had happened that had hurt our clients, then they needed to not be in business if they're not going to do the right thing. So it got that far. And that is so, so, so rare. That's probably the only time we've ever reported on anybody in our entire lives. Right, right. And there's just too many in too much mismanagement of properties and financial. So that's where. Anything else that you want to add? Because I know that I'm going to be talking about why.

Well, yeah, no, I mean, it's, it's just goes to the point of our experience. I mean, it started out from the very beginning. Oh, we're going to hire the best company ever, only to find out it was, it was Bad. And the next one was bad, if not worse. And then it just got worse and worse and worse. And it just, it forced our hand into making our own property management company. Because it wasn't. Not just because we wanted to, we had to. Because of our clients. Yes, because we want our, is. We want to take care of our clients. We want to make sure that they're happy and that their properties are being taken care of while they're wherever they're at, Switzerland, California, you know, wherever they live. And so we want them to have peace of mind that their properties are being taken care of. And if that person just was just, you know, was doing all of those things and just, they, they're like they felt defenseless because they're 800 miles away.

Yeah.

Three, three thousand miles away or whatever it is. Yeah. And so that's what it was. Unbelievable that it could get to that, even that level. And so. And that's what forced the hand.

Yeah. And that's, that was its own struggle. Because anytime you switch property management companies, it's an ordeal and it's a lot of work to get all the paperwork together and to switch over to a new property management company only to learn that they're not going to be the one that you're with forever anyway. So we were ultimately, we're like, okay, that's it. We're never going to get our clients into a situation like this because there was a lot of people we suddenly had to bring over to us. We were still planning to have our in house property management company because we always wanted that control. Right. Of being able to jump in, not worry about anything happening to another outside company. It was 100% in our control that we could fix it if something went wrong. We just didn't plan to do it that fast.

Right.

But we were forced to. So we, we started it, we got, you know, a bro. We started to get all the licensing and the LLCs created. You know, all the things that, that you do when you're building a company on top of running the companies that you already have, we had to do. But we did it, we got it done, brought all the clients that wanted to come over, we invited them over and so we got that transition done. That's how we started and that's why we built the in house company again. I'm glad we have is what it is. But I will say, I will say this. I was trying to see if there was a topic in here and we're going to touch on this probably a few times so we always say we're transparent and worried. This is going to be a vulnerable podcast. But even to this day, there are situations where our property management team is still going through growing pains. We have just under 500 doors right now because we merged with another property management company as well and took on. So we had our own doors and we took on their doors as well. That came with two people that are experienced in property management. Really wanted to make that a nice, smooth transition. Lots of things happened in that process and we're still going through growing pains of learning it. We like. I've tried so hard to find a property management mastermind or a coach. I'm like, somebody just come in here, I will pay you. Teach us, make us the best company in the wide world because that's all we want to be. And Flip and I believe in hiring coaches. We're everything that we do. We're in so many masterminds. We have so many different people that we rely on for advice and feedback and we don't mind going, we suck. Can you help us? So. But we've just never really found that, you know, mastermind. And so I said today to Flip before we started this podcast, I said we're just going to be vulnerable. We're going to talk about property management, how important it is, what we've gone through and the pain points that we've had because we say this all the time too. You're going to buy a product from us, Freedom Real Estate Group and. Or you could buy it somewhere else. We've got people that we manage that buy it somewhere else. But you're going to buy this house and then you're going to transition it to a property manager. That's the relationship you're with for the next five years, 10 years, 15, 20, 25, 30. If that company is not good, you do what we did. Transfer to another company, that's a big pain. Transfer to another company. That's a big pain. Transfer to. Oh, my goodness, it's so much pain, I can't even tell you. So something we've even done for our clients is we've. Our management agreement is month to month because we tell people we're in house, we can control. So we make a mistake, we screw something up, tell us we're going to jump in there and we're going to fix it and we're going to figure it out for you because we have that control to do so. But we're still new, we're still building, we're still going through growing Pains. So guess what? It's month to month if we are really sucking and we're not, we're not doing for you what we should be doing, which we want you to be a raving fan. If you're not a raving fan of us, it's because we're growing. We're going through these pains. You can cancel at any point in time. It does not matter. We're not going to charge you some big, you know, outlandish fee that a lot of property management companies will. We will help you transition to whatever property management company is going to do a better job for you than us. We hope that we can continue to improve and we earn your business later, but then you have to transfer over back again. So we understand the pain of that. But that's just one of those things, what we're trying to do as we go through these growing pains, knowing that we're not perfect, we're human. And I tell everybody we have an in house, we still make mistakes. We're human, we're growing, we're figuring it out as we go. We've got some amazing Systems. We have 12 people on staff. I'm gonna say that for a reason. Sorry, Flip, I don't even know where I'm at in this, but we have 12 people on staff in property management alone with just under 500 doors. So the model as I know it, and I've seen different models, is you need three people to run 200 doors. You need then one person for every extra hundred doors. So everybody do the math with me. 300 at 200, four at 300, five at 400, six at 500. And we're not at 500 yet. We have 12 people. And that's the money that I'm willing to invest into a company that means everything to the rest of our business. If we don't do property management right, then we're failing our clients. We're failing. We have 60 doors with our own company. So, like, I know the pain of the owner. I'm not getting this report. I'm not getting this report. You're not updating me weekly about this. So I'm constantly going, if I'm not getting it, our clients are not getting it. So I want this fixed, I want this added. And our COO she's been working on, we have appfolio. So Rent Bridge is one of those tag ons that you can put on top of appfolio that really automates everything and allows you to scale in a way that your reports are Amazing. And it allows you not to drop so many balls when you have so many properties. And so we invested in that. I mean, the amount of money we poured into this business while we're still young and we're still growing and going through these pains is insane. But it's meant to say we're dedicated and we're not giving up and we are going to be the best of the best and we're going to create these raving fans. And that's what this is about is kind of, you know, open up the curtain to where we are and why we are where we are.

Right.

And then get some of the feedback from you guys who may be smarter than we are and may give us really, really great ideas. And I'll tell you who we're hiring on, on Wednesday to actually help us in properties. Okay, I'll let you take over. I think we're Wine house. I think we've covered that. So tough business. Oh, talk about this one. This is an interesting concept.

Yeah. So this is. That's the hardest part about property management is that you've got the. Our client. Our clients, which is our investors. And so you want to make them happy.

Yeah.

Well, then you also have the tenants. But we don't call them tenants. We call them residents. So we have our residents and they're not happy. And so you got the clients that aren't happy, and then the tenants aren't, or the residents aren't happy, so everybody's just not happy. And the second you make the resident happy, but then the. The client might not be happy, but if you make the client happy, then the residents aren't going to be happy. And so it's. It's always a give and take or they're just. Or just nobody's happy. And it's just. It's a tough business and it's hard. It's. You know, I remember when we first started looking for applicants for the company and just, you know, when they came in. And this is. I love property management. I just want to say you're hired. Nobody likes property management, let alone loves it, you know, and so it's, It's. It's a weird. I won't say weird. It's just different. It's different than any other job. It's hard to find that person that loves property management because it's a unique person that's going to love property management.

And have the skin to be able to get the owner yelling at me, over here, I've got your residence yelling at me. Over here, I don't like, like I said, renovation and property management, I do not know which one, honestly, is the harder of the two businesses because between residents and contractors, who's worse?

Because you think property management. Oh, that's easy. Just collect rent every month, pay the owners every month and you're done.

That's easy. It's not. Yeah, yeah, it's not, it's not.

And it's an incredibly tough business. And had we not, I mean, we experienced it with those other property management companies, but then once we created our own company, we just peeled the onion back even further and we're now, we're experiencing firsthand, you know, just issues that we didn't see with those other companies and they probably just didn't report it anyway.

Yeah.

You know, so it's, it's an incredibly tough business and I would probably give it an edge over the renovations company, but it is definitely, definitely a tough business to run.

Yeah, for sure. There's so many moving parts.

Yes.

Yeah. Okay. All right, so we're going to talk through some of our goals. So I wrote this down because. So we have a new hire starting on Wednesday. This will be, at least temporarily, number 13 in our property management company. He is a very, very successful operations guy. I've been a COO of many other companies in the past. Like, he knows numbers, he knows data, he knows to walk in and see the big picture and be able to kind of figure out where our pain is, where we're lacking in efficiencies, things like that. So I actually wanted to bring him on full time. We can't afford him yet. We just, we just can't. He's expensive. But I wanted to bring him on full time, but we're just, we're starting out on a two month consulting basis and he's coming in dedicated to IPM to say, hey, let's take a look at this business and let's just see where you guys are at. What are you doing now? What are your KPIs right now? Where do you want to improve? What are the metrics that you want to be at? And that's what I'm going to talk about now. Because I created some metrics because I asked tons of people what, what, what metrics are standard? What metrics is a good goal. Like if you, if I want to be the best, the absolute best in the industry that like, no, hands down, everybody's running to IPM because they're the best, that's where I want to be. I want it for my own properties too. So I created metrics and I just came up with them and I shot them out to a few people. I didn't get a lot of feedback on them, so we're going to share them on this podcast as far as metrics that we want to see in our property management company. And then I've given this gentleman to say, hey, check out our KPIs, see where we're at, see where the pain points are or where we're lacking in efficiency, where maybe we're duplicating efforts. We've got 12 people, it's two. We've double. We're over double what we should have for a property management company now to have great service. Do I mind that? I don't. But double, that's like we should already be the best, but we're still struggling. So I'm asking him to help us with that. And so when I said here's my idea of a goal, this is what it is. So this is part of where Flip's going to ask you for feedback is in leasing. We want to be able to lease up a property in 15 to 20 days and that's after it's ready to be leased. So it's going to be vacant. There's going to be some term decisions, like the move out inspection is going to have to happen. We're going to have to return the deposit to the tenant after they moved out. Sorry, resident. Like, there's a language that's important to us that we adapt. And our property management team is really good at making sure we're talking to residents. We're trying to make. Residents are raving fans. Owners are raving fans. So residents get a resident welcome package when they get in and they get anniversary gifts every year. Like, we're really trying to be the only company out there that anybody would in their right mind work with and just go above and beyond. So from the time that they move out, you're going to do that inspection, you're going to return the deposit, you're going to go through a scope of work, present to the owner, decide what you're going to do, hire a vendor to come out, actually do the turn. And then once the turn's done, you could have started some marketing, some coming soon type stuff with some old pictures. But it's from that time of hey, from the turn being completed then to leasing the property, we want that to be 15 to 20 days. I would prefer it to be seven. I'd be like seven. Get it done in A week, because I want everything fast. But I just said as a metric, let's just go for 15 to 20 days and let's just see if is that a good metric and if it's not, then let's change the metric and go for that. For turns. We want them scheduled in five days or less. So from the time it goes vacant, that move out inspection process and tenant deposit is going to be working. But in five days or less, we want it scheduled. Some of that is out of our control. It depends on the owner and they've got to approve the scope and they've got to provide the funds to be able to get it done. So scheduled in five days or less is a goal. We're going to have to figure out how to measure it based on what we can control. Yes, it was ready. Yes, we had a vendor. This one is going to be pulled out because we're waiting on the owner and we don't have any control over that other than reminding them every day, hey, you've got a vacant property and we would like to get to work on it. So figuring that piece out, work orders number three. So scheduled in five days or less. Again, some of those, of course, if it's an emergency, it's an emergency and it gets taken care of. But in general, scheduled in five days of work or less. So that's a metric. Evictions and delinquencies, no outstanding notices, meaning if it's delinquent, that means they had until say the fifth to be able to pay. On day six, there's a notice. No outstanding notices, not even one day. That's a big deal. Like every day matters to me as an owner of properties. And so that's why it's great to have somebody who owns the company, who is a client of the company because they're going, don't waste a day on me. And don't waste it for my clients either. So and same thing with evictions. As soon as an eviction needs to be done, then we put a three day notice and there's no wasted days there. Owner retention, we want 1% of controllables. And I put this in the notes, meaning don't count the owners who leave because they want to sell their property.

Right.

Okay. Only count the owners who leave because they think ipm, which is us, are providing a before service.

Right.

So we want, if we've got 500 owners, we want five or less at any given time. Leaving because we suck. I really want that not to be 1%. I know you're all somebody to leave because we suck. But that is at least a measurement that it wasn't. Flip has a property with us, and you decided you want to sell because that's. That's not somebody leaving because we suck. That's you changing. You know, what you want to do with your property. Number six is resident retention. I actually wrote, unsure how to create a metric here, because we want residents who stay so that owners have minimal turns and vacancy expenses. But I just don't know how, how and what to create there. So that's still an unknown. I'm hoping that the gentleman that's coming in on Wednesday over the next two months is going to be helpless. Help us with that. And then number seven, occupancy. We want our occupancy rate at 95% or higher. Again, don't know that these are great metrics. Don't know if they're. They're, like, out of reach. Danny, you're crazy. Or don't know. Hey, those are pretty standard. Those are pretty good. You've got a good idea. Or those suck. You need to improve them. So if you do have feedback, Flip's going to ask for that here. But we wanted to say what it looks like. And so what we want to judge our team on, on that accountability to the metrics is this meeting. The metric is acceptable. Beating the metric, meaning being better, is exceptional. Missing the metric is unacceptable. So that's how we're going to judge, you know, the team. And these might change based on your feedback. Based on his feedback as he comes in, really evaluates it based on us maybe finding somebody that's in the property management business that is just, you know, doing a really, really great job and is willing to help, you know, share the best practices with us. So that's our goals. We wanted to share them with you so that you knew, hey, what's going on behind that curtain of independence? Property management and what are they trying to achieve and where are they failing and where. Where are their pain points? That's kind of what this podcast, a little bit of it was about because you as an owner, the importance of a great team. That's what I wrote, right? Importance of great property management team. Like that. We shared with you our own personal pain of going through five companies, and we're local, so we got to have them in our office, we got to interview them, we got to talk to other people about them. And we still went through five before we said we're doing it ourselves. These people suck. And although we're not perfect. And we tell people that right up front and we give them a month to month agreement so that we say, hey, if we're not perfect, it's okay. We understand we're growing and we're going to figure it out and we hope you come back when we are much, much, much better. We'll never be perfect. I don't think a human can be. But what is, what's your feedback on all that? Flippy?

Well, so that's the thing. We need feedback. And you know, I was driving down the road and I'm like, yeah, like what Danny said earlier, we hire coaches for everything. Yeah. And I'm like, we're in masterminds. We're, we're in one major mastermind, but there's a couple other groups that we've created even locally to learn from other people that are doing exactly what we're doing. And I'm like, there's gotta be a property management mastermind. I'm like, there's gotta be. It's brilliant. Let's go find it. There isn't one. Or if there is one, we can't find it. And so I'm like, well, dang it. Because that's, that's what we want. And we want to find other people that are doing this and having the same struggles and, and being able to learn from each other. And hey, you know what? Try this. We did this. And hey, you have problems with this, you know, or whatever, or, you know, just even help being able to help, help with something that we're doing right, which are we doing anything right?

Anyway, our occupancy actually we're at 4% vacant, so we're at 96.

That's good.

That happens to be one I looked up before walking in here.

And so, but we couldn't find it. And so one of the things that, when Danny said is, you know, we're very, you know, this is a very vulnerable podcast. And, and no, everything's not, you know, rainbows and, and sunshine. Yeah, and sunshine. You know, we do have struggles and, and one of the things that we do have struggles with is property management. And because it's so difficult. And so if you've got feedback, if you, you know, if you, if you happen to have, you're working with another property management company and hey, this is what they do. We'd love to know. Because anything that we can do to get better, you know, we want to do it. We're, we're not, you know, we're not saying, you know, well, we know what, we know what we're doing and we know where we're going. And so, but thank you very much. No, we need, we're asking for that feedback. We love. The more feedback the better. So that's really, that's, yeah, that's how we're gonna grow is, you know, because we're not, we're not perfect.

No, we're not. And so we're going to do a follow up podcast probably in two months about this topic based on we've asked the gentleman that we've hired to come in and dive into our company for a month and just, just dig in, you know, find all the yuck and the stuff that you think that or and find the great too. Like we are doing things great and we're doing things crappy. So find, you know, both. And then after that month, for the next two weeks after that month, develop a plan on how we can improve and how do we get there, what's that path look like? And the next two weeks after that, which will complete the two month contract would be to help us implement that. So that's the idea of this person coming in and I'm so, so super excited about it. I actually want to find a way that we are going to be able to afford to keep him on and then I'm going to have him go to the next company and go, okay, do it all over again for the next few months and do every single company. Fortunately, property management is the one that needs the most attention right now. So that's where he's going to start. But go to each company and then ultimately now spend time going, how do we talk better to each other? Just as you know, we're all under the same roof, roof here. So how do we communicate and how do we intertwine our systems a little bit better? So that in business I think is super, super important for us to always be growing, looking at how we can improve, being okay with being vulnerable and saying, hey, we need somebody smarter than us to walk in here. I keep on calling them the wizard. I need a wizard at the top here that can go, Danny, flip, you guys need to do this. So, so we're super, super excited about it. At that follow up podcast, it's going to be after the two months we're going to be writing down some questions because I already have a couple questions and thoughts and ideas that I've gotten from other people. So one was biannual inspections, so every six months. And this is something that we actually wrote down when we created the company that we wanted to do anyway, recently it came again up to our attention of biannual inspections, where you walk through the property and just make sure that it's in good condition. How's, you know, what is the tenant doing in there? Do they have eight dogs? And they're not supposed to have any dogs, you know, are they replacing their filters? Are they replacing the furnace filters? Right. And taking care of your equipment. So doing those things during that walkthrough and then in the fall, doing a gutter cleaning, that's something we do already do, is we do an exterior inspection and a gutter cleaning every single year already. So that's one of the things that, you know, we're going to keep on listening to people and creating this, hey, best practices list and how to create raving fans for our residents, for our owners so that we can just be. Be all that we can be of some kind. Anyway, so that's what we have for you today. Is there anything that we really missed when it comes to property management?

No, I think we dragged it through the mud.

Yeah. Okay, so you guys may want to know more about property management, and you might have questions you want to hit us to hit on in that. That next one that we do after the next two months, and we kind of learn ourselves about what we're going to do. The questions that we want people to be able to ask. You know, vet your property management company, talk to them. Ask them, what is your occupancy? How quickly do you lease up a property? How quickly do you schedule a turn? You know, ask them for all those KPIs. Do you track all of these numbers? Number one, if they don't track the numbers, then in my opinion, you're not a good business owner. Because if you don't know your numbers, you don't know what needs to be f fixed. And so we do track all these. We've got a Google sheet that has everything. But now Rentbridge, which goes on top of that folio, actually has a whole KPI. It tracks everything. So now it's this cool dashboard with those gas meter things that say, hey, here's your occupancy level, here's your lease timeline, on average, for all your stuff. So we're gonna have one of those cool things that keeps us accountable to what we're doing and how we're doing. So those are all ideas. And so if you've got other questions and you go, hey, dive into those this, dive into that. We'll make sure we're really prepped for this follow up property management podcast to say what we've learned, what we've fixed, here's our new metrics, here's the ideas that we got from you guys or from somebody else and, and we'll share all that stuff and feel free to do that for anything that we do, whether it be property management or anything else. I think we already got had somebody that said they wanted to have a podcast on like the market area and seeing, you know, why do we love Dayton in Cincinnati area, what cool about this and showing it. So I haven't figured exactly how we're going to do it. We're either going to have probably you or Mark like put a video in the car as you're like, you know, driving through neighborhoods and say, here's Belmont, which we call Belmond Belmont. It's one of our favorite places to invest and here's why we love it. And here's the new Amazon facility that's coming in right over here. And just maybe piece together a podcast going through a tour. So that was a really great idea that came from, you know, one of you guys. So thank you for listening, thank you for giving us feedback. It's how we're going to be able to help you better and it allows us to get information from you because you guys might be smarter than us in some areas and we would love to learn from you. So anything else? Okay, so this is episode number six, right? Real Talk, which is real talk for real estate investors. We always like to end these with invest smart, live happy. Bye everybody.

Bye.

You know, one of you guys. So thank you for listening, thank you for giving us feedback. It's how we're going to be able to help you better and it allows us to get information from you because you guys might be smarter than us in some areas and we would love to learn from you. So anything else but.