Financial Avice From An STR Host CPA

Hey everybody. Welcome to the Boostly Podcast. This is the podcast that gives hosts all over the world the tools, the tactics, the trainings and most importantly the confidence so you can get more direct bookings. My name is Lynn Carolan and today we're on the spotlight series on the Boostly Podcast. This is where we look at people, businesses, services that you need to know about as a short term rental host and also people who are involved in short term rental in general. So and we've got a special guest about to tell us his story, share some tips with us. And the cool thing is about this guest is that he is the go to guy for tax advice. He's us based, he's a cpa. The cool thing is he doesn't just give the advice on tax, but actually he's a short term rental investor himself and quite a varied kind of investor. Not just your traditional short, short term rental, but a few other cool things which we'll dive into. So we're going to welcome along Ryan Bakey. He is known or his business is called learn like cpa. And yeah, we're going to get his story and, and see his tips. So welcome along Ryan. Thank you for joining us today.

Awesome, excited to be here. Thank you.

For those who may not be familiar with yourself, can you give yourself an introduction and share anything that you'd like to share with the audience?

Yeah. So my name's Ryan. I have, I went to school for accounting and finance. Accounting and finance really was my first love when it came to diving into what my genius zone is. And it's actually funny because I'm not the best at math. In fact, I actually almost failed my senior year math class because it was so, it was so hard. But I did understand basic addition, addition, subtraction, multiplication, division. And if you can understand that, then you can understand real estate investing. So I tell people all the time, outside of school or after school, I went to work at Deloitte. So Deloitte's a huge consulting firm. They have offices nationwide, you know, nationwide, worldwide large consulting firm. I helped a lot of investment management, banks, hedge funds, syndications, real estate syndications. Basically people who are already rich and wealthy help them become even more rich and wealthy. And I decided that I wanted to help not the everyday person, but the person in their family that was going to change their family tree. So that's when I started my brand, learned like a CPA and then my, my consulting firm that focuses on basically small mom and pop investors, help them, you know, acquire short term rentals Help them analyze tax benefits, tax savings, help them make decisions about their portfolio, should they exit, should they, you know, refinance all these, all these good things and just be that good third party advice. Because what I like to do is I like to help people alleviate the emotion from the equation because oftentimes a lot of short term model investors, they, they, they have a lot of time in these projects and they have a lot of emotion. And I try to be that, you know, sounding voice to, to say, hey, here's what makes sense, numbers wise and remove that emotion from the equation.

So it's so true. So many people just go, hey, I like this place. They've got a vision. But at the end of the day, if the numbers don't make sense, well, there's no point in, in even undertaking it. What does the short term rental side of your business look like at the moment?

Yeah, I mean, most of our clients now are primarily short term rental investors. It's just becoming so popular, you know, within the last couple of years. I think, you know, Covid really was the catalyst for short term rental real estate investing, in my opinion, because you had a bunch of people who, you know, they didn't, you know, maybe they didn't want to have to listen to a company or a boss or be tied down to their place of employment. I think that's when a lot of people started investing. And then, you know, in America we had super low interest rates. So that made it really enticing for somebody to be able to buy a property. I, you know, manage it, use the income to help replace their W2s. And you know, I myself kind of left my W2 job to go into real estate full time, you know, half, half CPA consultant and half investor, you know, but I've also helped guide tons of people and cp, seen tons of people make the transition from full time W2 to full time real estate in a matter of, you know, sometimes less than, you know, a year, year and a half maybe.

What would you say is some of the challenges that you've seen? I guess or some of the ones that you've gone for yourself, but also some of the ones that you've seen. Some of these investors have. What are the challenges when they're trying to move from their W2 job to, you know, to create a successful portfolio that cash flows to allow them out of their job?

I think that I'll say two things. Number one is you have to have a plan. When you go into this space. You really have to have a, you Know, not just a, okay, here's what I want to do, but you know, a one year, three year, five year, you know, even 10 year timeline of what it is that you want out of real estate investing. You know, is it to, is it to leave your job full time? You know, is it to leave your W2 job so you don't have to listen to a boss? Or is it, hey, I just want some supplemental income, maybe I want to diversify my retirement, you know, my stocks. You see, you see a huge shift to real estate investing anytime the stock market plummets, right? So, so is it, is it that you need to have that plan? Because what I've seen, especially in America, so where we can buy houses based off, you know, what's called our debt to income. And so if you don't have enough, basically reoccurring income, whether that's through your W2 or rental properties, the bank's not going to give you a loan. And oftentimes I see investors get capped out on being able to scale their portfolio because they're not balancing what's called their debt to income. Very healthy. The number two thing that I would say that is really important is to really avoid lifestyle creep. And so lifestyle creep, I learned when I originally was taught personal finance, lifestyle creep is anytime you have a change to your situation, typically for the better, you know, you either make more money or you have a huge windfall or whatever it is, you start to outspend what you've earned. And so, you know, if I'm, let's say I, let's say I'm making 60 grand a year and my budget, you know, I need 40 grand a year to live, okay, so I have a $20,000 a year surplus. So then what happens when I make 80,000, 60,000, what am I doing with that additional 20,000? And the sad part is a lot of times I see short term rental investors, they take that surplus income and the cash flow that they made from their short term rentals and instead of using that to go back to another situation, paid out some of their debt, they're using it on lifestyle assets like vacations, travel, new cars. And so you'll never actually get out of your W2 job if you're just taking what you're making on the side or in short term rentals and not redeploying it into your business.

I think I get that. So in other words, instead of using it for, you know, holidays, lifestyle, the fun stuff, take it, put it into an asset or into the right Asset class, obviously, depending on what, what they're investing in. We assume short term rentals is on this podcast, but, and then they'll cash flow more from that. And as, as they build this up, that's really what's replacing their, their income. Is that right?

Right. And then at that point it depends on how fast you want it. Right. Because if you have, let's say you have a surplus of $2,000 a month of income, right. What are you, you know, are you taking half of it for yourself and you're going to spend half and then you're going to save and invest the other half? Or you could be somebody who they really want to get out of their situation. So maybe they're taking that $2,000 and they're, they're investing all surplus income.

That makes sense. Yeah, that makes sense. So just, just for the British listeners, because we've got some people based in the US some people based in the UK I feel I should just clarify cpa. Can you just tell us what that means? Because from my understanding, I understand this tax based, but is it kind of attorney based as well? Like just, just to clarify what CPA actually is? Yeah, UK listeners.

So the CPA in the United States is a designation that, so all account, you know, all CPAs are accountants, but not all accountants can be CPAs. It's kind of is that graduating. So you know, once you go to accounting school and you, and you learn going to learn a little bit of tax, what's called auditing, you're going to learn consulting financial statements, you're going to learn basic economic principles. But in order to get your CPA license, you actually have to take a very rigorous exam that is a combination of all those. So in order to get your CPA license, you have to be very proficient in tax, you have to understand financial statements, you have to understand auditing. Like if you were to go audit a company, a company's financial statements and you also have to audit understand b, you know, really good economics. What, what incentivizes people to act a certain way? How can the government, you know, in the United States we have really good monetary fiscal policy. That's at least most of the time we try to anyway that the government can kind of pull a lever or push down the lever to make, you know, the economy do what it wants to do. If, if the economy is spending rapidly and inflation's running up, you know, we need to basically get money out of the market. And so you have to understand that in order to get your CPA license. But as a cpa, though, to be honest, you know, I think they're very similar to doctors. So not all CPAs are going to understand real estate. Not all CPAs are going to understand cryptocurrency or small businesses or, you know, I get a lot of inquiries, a lot recently about farming. You know, I know nothing about farming. Well, in fact, I know I knew just a little bit to be dangerous to be able to help this guy, but I don't, I don't know about farming. It's almost similar about, you know, doctors. You're not going to the same guy that's a pediatrician or a child doctor. You know, he may or may not be the guy that's going to fix your heart or fix your foot. Right. So it's the same thing with CPAs in America. You know, you want to find a CPA that focuses on what you're doing.

I think that's a great tip for everybody listening on the, on the podcast because this was one of the things which when a lot of people, when they move into short term rentals, they're not necessarily knowing they're setting up a business. It is a business. But obviously when they've set up short term rental, when they've got the opportunity to run a business, they know they might need to get an accountant. And the trouble is they'll go to whoever their friend uses who have a different type of business. And this is the trouble. It's important to get the right kind of cpa, obviously based in the US or accountant if you're in the uk, who knows the asset class? In my case, I use an accountant who knows short term rental, you know, that's in depth. He's also an investor as well. And it's just such a different service to somebody who would just be a general, A generalist. So I completely get what you mean there.

Quick break from the podcast to let you know that the two boostly books that we brought out, the book Direct Playbook and the book Direct Blueprint are two of the top rated and the best selling in the hospitality category on Amazon for just two pounds. You can grab both of them. Those books right now. The foundations and the structures that you need to put in place is in the Blueprint and then for 101 marketing tactics, that is in the Playbook. So go and grab a copy on Amazon now just type in Book Direct Playbook or the book Direct Blueprint and we'll see you on the other side.

So you've obviously you've Got the training side of what you've, what you do. We've learned like cpa. You've got your, the knowledge from, from years and from, from the, you've know, just built up over time. And then you've also, I know we talked just before we went live. You've actually got some hospitality investments. Can you talk us through what they, what they are at the moment?

Yeah. So I have a Airbnb that's on a, on a lake in Ohio. So it's actually the largest Airbnb on Lake Erie. So we have a lot of fishermen that come bachelor, bachelor parties. I go there. And so, you know, talk about hospitality is how do you make that transition between having fishermen in one week that are going to smell, you know, fish smell like fish and then having a bachelorette party in the next week. You really have to make sure that your systems are aligned and that your cleaners are good. And if there is fish smell, you have to get the machines in there to kind of get rid of the smell or open up a bunch of windows. And then so that was kind of like my first short term rental property. Then I moved into recently just glamping which are, which is buying land and kind of putting up these really cool creative tents and running, you know, water, electricity. Running, running heats them. But creating this experience where, you know, for example, in like Branson, Branson, Missouri is where it's at. But you, you have a single family home there that might cost 350, $400,000 to buy and that's going to rent out for, you know, maybe 400, 450 a night. Or, you know, you can put up a tent that's only going to cost you 30 grand to put up. And that tent could run out for 180 to $200 a night. So you're able, you know, for the same cost of getting a house, you're to able, able to put up, you know, 6, 7, 10 and increase your nightly rate. But then also think of what that does if I have, let's say five, 10 or one house, for example, and you know, I'm only able to rent out, you know, three tents. I'm still making money even though I'm not renting out the 2/10. But if that one house sits unoccupied, I'm not making any money. And so just really diversifying my income stream from a multifamily real estate, Midwest real estate and then getting into a different type of asset. And that's actually what I, what I really tell people in real estate is because some people go to real estate because it's a diversification from the stock market. But you can actually diversify your portfolio within real estate. So you can have, you know, multifamily, you can do midterm, Midterm rentals are very common. Or you can get people who have insurance problems to come stay at your properties. Short term rentals are a different asset. You could have different short term rentals in the country. Right. If I have a ton of properties in the Midwest, maybe it's time to go buy something that's down south. So I can actually have bookings during the winter. And my cash flow is not dried up when I tell people is I try to invest in two things, People's needs and people's wants. So people need housing, people need somewhere to live. You know, that's where a multifamily, a single family, you know, regular long term rental is going to come into play. And then I also want to invest in people's wants. You know, people want to travel, people want to splurge. That's where short term rentals come into play. And so I'm never, you know, I'm never going to tell somebody, hey, you need to do long term rental or short term rental. You know, I can look at a deal and say, okay, this needs to be a short term rental, this should be a long term rental, or you know, what have you. But I, I'm open to investing a lot of activities, so.

And it makes sense what you're saying. I mean, first of all, I want to bring everyone's attention to investing in the two different markets. You know, something for summer, something for winter, which is. Which fantastic idea. You also mentioned that, you know, something that, something that people want, something that people need. And this is the great thing about it brings me back to when Covid happened. We actually had some units which are more contractor based and some which are more leisure based. Now the leisure ones, unfortunately we couldn't be open during that time. During the pandemic though, we could be open for workers. And that was something people needed and we had the right product for the right time. So by having that diverse portfolio, you can actually, you can leverage the one which makes sense. And obviously not every market is up at any given time. Not every market's down at any given time. So yeah, that's really cool. You also mentioned there that you had to get rid of the smell of fish in the early, early days at the one of the properties. How did you do that? Do you use Any special piece of tech or is it just general cleaning?

So to get rid of. So there's a few, few different ways you can get rid of fish smell. So traditionally a lot of people just kind of open the windows, get the fans going in there. That's you know, cheapest, lowest cost way there are. Similar to kind of getting rid of like pot smell or alcohol smell. You can use Ozium machines. So run it. You know, there's these little Ozium machines, you kind of refill them and, and they're very more of a cost efficient way to get rid of the smell. I guess an even cheaper way than that is to use vinegar. So vinegar in like let's say the washing machines, dishwashers, to get rid of that fish smell. But to get rid of it throughout the house. You're probably talking about using a machine to get rid of the smell. But I mean fish especially is one of those things where it will stick for a while. It's not as bad as like cooking. A lot of, you know, sometimes I've seen horror stories on, on Facebook that sometimes their guests are cooking like, like a curry type food where it's kind of really the smell kind of sticks for a while.

But you do. I mean, I'm glad you mentioned the ozone machines because that is something which before getting into short term rental I just didn't know about. And for anyone listening to this going, what is an ozone machine? There's these machines that you can go and buy, you can hire them, but they're cheap enough to buy. I mean they're about 110 to $150, 130 pounds, something like that. But ultimately you can get these little machines, you just put them on. Everybody has to be outside the house, you have to close the windows. Can't leave any pets or anything like that or anything alive in there. It can even affect houseplants, they say, although I've not seen that. But yeah, you leave it on for an hour, don't you? And by the time you walk back in, it kind of smells a bit. You have to open the windows, make sure you clear the ozone, whatever is done, and effectively it changes the O2 and the air to O3, which is the same thing as high up in the atmosphere and it kills all the bacteria which is causing the smell in the air. And the great thing is about this is that afterwards you, you can't detect the original smell. We use it if somebody smokes in one of the homes when they shouldn't do. But yeah, for fish for, you know, spicy food, whatever it is, you can easily get rid of it. So I think it's a really great tip. In general. I know we've gone off on a tangent, so.

Yeah, for, for me too. Like if you have, let's say you have a fisherman booking all their fit, you know, their clothes are going to smell like fish. So if you run it in the washer and there still might be like fish residue smell. So that typically when the cleaners turn, they gotta run. Not every time, but sometimes they have to run vinegar through the washer, which is cycle it. So that way when the next guest rooms are closed, it doesn't smell fish.

We sound like we're giving cleaning tips as well, which is awesome. This is, we go, we go anywhere. The conversation goes on the Boostly podcast. So obviously you've got these, you know, successful hospitality side of things. You've got the trend side of business. What's been the biggest wow moment of your journey? Just in general, whether that's hospitality mentality or, you know, some of the teaching. What. What has been the biggest wow moment?

I think for me it's understanding, I guess, what's called your genius zone. So your, your genius zone is if you were to draw like a hopscotch, like a quadrant, and understanding that there's certain talent, you know, certain things that you have to do every single day between admin task, between admin tasks, a super very important task, and realizing that generally most of people only spend 5 to 10% of their time in their genius zone, what they're put on the planet to do, like what they feel like they have an edge over everyone else at. A lot of people are only spending 5 to 10% of their time in that zone. And my paradigm shift was when I was able to figure out, hey, how can I spend 50, 60, potentially maybe 70 or 80% of my time in that genius zone and then try to outsource and offshore everything else that I'm doing. And so you, when you spend more time in your genius zone, you'll have more, you'll feel like you'll have more purpose because you're helping more people. I mean, you're going to make more money because you're doing the things that really only you can do. And you're going to have a much, you know, much better quality of life when you find that genius zone. So for me, it's trying to be an architect, but not the builder, you know, like the, the designer. But I'm not going to be the one that's going in and staging the property. Right. So just really understanding like what I'm good at and then leaving it up to the other professionals to do what they're good at. Right. Help them find their genius zone. And so that's really what I would say the biggest change for me was.

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I like that. And quick follow up questions. How do you find out what your genius zone for those listening going, hey, I don't know what I excel at. What would you, what advice would you have for them?

There's a lot of actually online they have like personality traits that you can take that can kind of tell you what type of know you have a type A type B type personality. And then what are your, you know, are you an innovator, are you a leader, what type of character trait that you are and but really you have to, I guess it was a lot easier for me because it was basically accounting and finance for a while was understanding numbers. That was what my genius zone is for me now my genius zone is being able to take things that are extremely complex and boil them down to something that everybody can understand. And basically in layman's terms, right? So I take things that are extremely complex and put them in layman's terms. That's essentially what my genius zone is. I would say, you know, you have to figure out what you think you're, you know, top 10, top 20% at in the world. Right. And then focus on doing that.

That's cool. And those tests you mentioned, one in particular which really helped me in the back, back in the early days was the wealth dynamics test which is, I don't know if you've seen that one but there's, there's so many of these, these different tests. But the wealth dynamic one was one which really helped me. It identifies strengths, it asks your general questions, doesn't it identifies your Strengths and weaknesses and what you actually like to do. And obviously the stuff that you're good at and the stuff you like doing is, you know, the way that you should move towards, which is cool as, you know, if you can cash flow from it.

Yeah. You know, you know, we have like a, what's called like a Myers Briggs test too here. I don't know what your uk that might be your UK equivalent, but I do remember taking mine in high school. They used to make us take it. And I would say as long as you take it seriously, a lot of times people are like forced to do it from their job or their school. But if you take it seriously, it should get you pretty close to what it is actually. In fact, mine spit out accountant. Like it said, that's what I should be.

It's interesting as well, because it changes. I didn't realize this. It changes over time. Obviously it's worth doing at different life events. So, you know, after you have a kid or whatever, it might be worth revisiting some of these, some of these tests. Mine hasn't changed too much, but it's something to look at. So obviously you're involved in hospitality. What would you say is your top tips that you've had when it comes down to hospitality? What advice would you give to somebody who was starting out which should say, hey, you should do this from the start?

Yeah, it really is about how efficient can you provide a good experience and then really turn over those units? So the best tip that I ever learned was is if you, when you go to set up the property, you want to keep like a file, an Excel log that has all the serial numbers to the stuff that's in your property. So if you have like a hot water heater or dishwasher or something that can break, that needs to be fixed by handyman and that, let's say hot water heater goes up, right. So instead of the handyman having to come to the property to inspect what water heater that they need to replace, if you have the serial number, you can tell them, hey, here's a serial number to the hot water here. Can you go pick up one that looks just like it or know, can you figure out how to fix it? And so that way they don't have to go to your property and then go to Home Depot and then come back, they can go straight to Home Depot, grab the water here and then come, you know, come back to your property. That I guess that's the most practical tip that I have. I would say the Other. The other one is you really want to leverage your. There's an, you know, app called Stay that allows you to get your guests emails. And so it's not just the guests that booked with you, but also anybody else that they're bringing, because it's. It is seven times easier to sell something to somebody that's already bought a product or service from you. And so that's one of the things that I learned, even at the conferences and stuff is, is if you have the email list of guests that have already stayed with you, anytime you make updates or changes to your property, if you add new amenities or you add, you know, new accent walls, whatever, you could take pictures of those and then blast your email list and just say, hey, you know, since you last stayed, we updated all these, you know, cool, cool amenities. Come check it out. Oh, by the way, book direct so you can save in fees. And then those are some of the tips. I actually told that to somebody that was kind of running a hospitality sort of transportation business. And he would, you know, just a shuttle bus, so he would have 15 or 20 people at a time. And I said, hey, are you doing any type of email, you know, marketing campaigns, reoccurring campaigns? Because you have one person that books a bus on a 30 people, you're only getting one email as compared to 30. I said, put wifi in the bus and get captured people's emails. And so he saw his increase in the amount of people booking his bus go up three times since he implemented the email marketing.

Nice, Nice. And it's so true. It's something close to boost Lee's heart, which you're talking about there. And just so true. If you've got your own email lists, you own your own land, and as many hosts turn to us and say, hey, but what do I send guests? Will exactly what you've just said, just document and send out whatever's happening in your. In your business, in, in that property, in the city, in the area, whatever it is.

It could be that. That's a good point. Doesn't even have to be. Once you fix something at your property, it could be, hey, they just open up this really cool spot down the street or this attraction is coming to town or whatever sort of. We call them compression events. Any sort of mass influx of people, you know, if they're coming in for like a tournament or whatever, you know, a concert. And so, yeah, I mean, it's a great tip. Once I learned that it was, you know, you're basically leaving money on the table. By not doing those things.

100%. 100%. You've obviously got a wealth of knowledge and you know, the tips you're sharing in this podcast is amazing. Where do you get your inspiration from? Who should other people look to for, for inspiration, for knowledge, advice? And we can be talking books, movies, podcast, what, whatever, whatever you like.

Yeah. Actually one of the really good inspirations, especially when I was in college earlier, was Simon S. He's more, I believe he's UK based, more UK based. But he's speaking, he's spoken in America too. He's been awesome as far as being an innovator, being a leader, you know how to treat people. And he's been a really good inspiration to me. And just listening to his, his TED talks have been awesome. I like former. Actually this, this guy that I really like right now named Joe Carbone. He's, he was Kobe Bryant's fitness trainer when Kobe Bryant first started playing basketball in the NBA. And so he, he's been telling his story about how he was training Kobe and some of the similar similarities that he saw in Kobe Bryant to some of the other professionals like Michael Jordan. So his name's Joe Carbone. I, I've been following him as far as the short term rental space. I mean, there are so many good people in, especially in those Facebook groups. Groups. Right. So the build short term mental health Facebook group, Bill Fates is in there. He's been a wealth of knowledge. Really helped me out a lot. You know, there's so many people, I mean, I could name drop everybody on a list, but get it, get in those Facebook groups and really just start posting because there's really good community and there's people that want to help there because what everybody's dealing with is nobody around us can like understand what we're doing. Because I know, you know, when I first started investing in real estate and you know, clients and students of mine that say, well, I, I can't really talk to anybody about it because none of my friends are doing it, none of my family is doing it. And so get yourself surrounded in those communities because then you can start having those conversations and, and really you can kind of fill the holes and voids of what you don't know because there's probably been somebody that's already done what you've done and has some tips to share.

So true. And, and thank you for the tip. I'm going to check out Joe Carbone as.

Yeah, he's cool.

He's cool. And Simon Sinek, one of my favorite Books, which is start with why. So. Oh yeah, yeah, absolutely. Epic. So what does the future look like for your business in general?

Yeah, we're going to continue to expand and help spread knowledge. Again, they don't, you know, they don't teach you about wealth creation, they don't teach about tax benefits, they don't teach you how to be your own boss. You know, the school, obviously the school society kind of teaches you to be in the employee, not the owner, teaches you how to be the tenant but not the landlord, to be the borrower but not the lender. And so really just kind of keep those principles and help teach people that.

That'S cool, that's cool. And in a moment we're going to share with everyone how they can come and follow you and obviously these great tips. Find out more from yourself. But before we do, we just love to do a couple of fun quick fire questions basically. So what gadget or app do you use regularly that you absolutely love? The one which, you know, something tech wise that you just go, yeah, this is fantastic. This has really changed my life.

Calendly.com or it's an app. So the, the online tools a lot better but basically it's a, it's a time management software in my opinion. So you, you set up, hey, I'm available this day, I'm available these days, this time. And then whenever somebody wants to book a meeting with you, you just shoot them the link and they have to book a time with you. I mean, I can't, it's like $150 a year for the paid version. It basically does replace, you know, any sort of back and forth between somebody about what times that they can meet. You know, sometimes it does come off. Now I have heard people say, hey, it kind of comes off as, you know, rude or condescending that you're like, oh, just book this link here and find time. But you have to understand that because you're so good at time management that you're able to help more people that way. And that's how you have to look at it because hey, I'm, I'm not going back and forth with this person on when we can meet. Send them the link, they book the time. I can't live without counting.

Yeah, I love that. And for those who use Calendar, they love it when somebody else uses Calendly as well, don't they? Because it's so easy to arrange stuff. So yeah, I'm well with you on that. What would you say if somebody said, hey, you could invite Anybody to a dinner, let's say two people from any time in history, so they can be living or posthumous. Who would you invite to dinner and why?

Any time in history? Wow, that's. That's put me on the spot. Probably LeBron James and Ben Franklin.

Nice, nice. So what, why those two? In. In particular?

I would say LeBron James, just because he, every throughout his life he had pressure. So even when he was in high school, like, it's like, oh, this guy's going to be the next, you know, Michael Jordan. This guy's going to be the next everything. Right? He had immense pressure his entire life and he's absolutely lived up to it. You know, he is never, he has never cheated, he has never stolen from people, he's never, you know, lied. He's never done anything. He's literally lived under pressure his entire life and he's overcome what people. I think people have set such high expectations that he's been able to achieve them. And it's like, oh, we thought he was going to do that anyway, but would love to. I would love, I would love to chat with him about that.

Nice, nice. And of course, Ben Franklin as well.

Yeah, just, just because it's like those innov innovators, those pioneers, those people that they don't really know what's going to happen, but they're the ones that are putting their best foot forward and they're standing in front and the front lines, right. Like founding father type people. It'd be cool to chat with them.

That's cool. I like the answer. And finally, what would be your saying or mantra that really resonates with you?

Yeah, don't wait to invest. Invest and wait. So, you know, especially the, the further you wait, you know, the longer you're not going to have inflation, you're not going to have debt, you're not going to have tax benefits, time value, money, all these things that are fighting against you. The longer that you're holding on to cash and the longer you're not investing in the assets. So I always say, you know, don't wait to invest. Invest and wait.

And yeah, thank you for that, Ryan.

There's.

There's definitely people who need to hear that right now. So, you know, with all the fear in the world, this, you know, ultimately now is still the best time to, to do it, isn't it? So how can we find out more about you? I'm going to throw the mic open to you and. Yeah, where, where would you like to send our audience and the attention? How can we find out more.

Yeah. So I'm on all social media platforms. It's going to be learn like the CPA. So that's TikTok, Twitter, Instagram. TikTok, Twitter, Instagram. I'm on Facebook. If you go to Facebook, go to Tax Strategies for Real Estate Investors. We have about 5,000 real estate investors in there that are learning tax strategies daily and so those are the two mediums that you'd be able to find me. So it's going to be learned like a CPA on all platforms and on the Facebook group. Tax Strategies for Real Estate Investors.

Thank you so much. I feel that I've learned a lot in this podcast and I know the people listening will will do as well and they'll come and check you out on was there anything we missed or any last moment shares before we bring it to a close?

I think we got it though.

Awesome. Thank you so much for your time and again, thank you. If you're listening to this on the Boostly podcast, we know there's a lot of places you can put your attention and I really appreciate you putting it with us here at Boostly. Thanks very much. Bye for now.