Mike Minutes Mastermind 07.26.2022

Good morning, Augusta Nation. Hope you're all doing super well. Let's go ahead and jump in. Couple announcements right off the bat, actually, that Liz had made me aware of. First off, they're seeing a lot of people at command Center. She said they have what we call yellow flags at command center. And that is when a location is starting to do something that is a yellow flag for the brand or they're just, they seem to be going in a wrong direction. And so they sent me like from yesterday their yellow flags. And so I'll just read a couple of them. I'm not gonna mention the location names, but just like yellow flag, it gives me location and then what's happening. So, for example, client reported mowing last week, was missed invoice, had two biweekly mows for the month on it. No jobs are marked complete on the account and no invoices for the previous four jobs in the account. So someone's just literally leaving the jobs on this calendar they're getting done. Like the clients literally telling us, I owe you money. You mowed last week, but they're not marked complete. Another one here. Franchise accepted recurring service or sorry, franchisee accepted recurring service. Seven miles outside of service area with the empty calendar, should we have temporary add on to service area? So again, this is someone. That someone must have verbally accepted a job seven miles out of their service area. Fine. But we got to know what command center because that person calls in asking for service, we're going to tell them we don't do service. So there better be notes in that account or something.

Client called in to verify her mode date as Monday, said she had already been mowed once. No jobs were listed on the account. So client's property has been mowed, they've accepted the estimate, no jobs are listed. So there's several others in here. Client asking to confirm bi weekly mowing without any on the account. Like when someone calls in, you feel like super dumb when they're like, yeah, I mowed. You mowed at my property last week. I want some information about like my biweekly price. And we have no record of an estimate, a job being accepted. Nothing's on the schedule, there's no notes. So you're really setting yourself up for failure because now command center is going to contact you. You've got to contact back to command center. They've got to contact the client when that would otherwise have been a 20 second conversation on the phone. If their notes, the estimate and the jobs were all scheduled correctly, all of these yellow Flags are happening to our smallest locations. Okay, the ones that are just getting started, solo operators, maybe one employee. Because you're forced to use the software and put everything in when you, when you have multiple employees. And so in the first stage of growth, remember my pep talk, and that is I understand that using software at the beginning feels like a trial and it feels like more headache than it's worth because you can just keep in your head. But that is not going to scale, is not going to have. When you have five employees, you're not going to be able to keep, you know, jobs that are outside your service area. You accepted, you know, jobs that aren't on the calendar, but you're still mowing the lawns. And then you just like create the invoice at the end of the month because they're not in the CRM. So please don't do that to Command Center. More importantly, don't do that to yourself. It's costing you a lot of money when customers call and we have no record of what's happening. So just a bit of a red flag there or yellow flag I guess is what they call it. And something that Liz wanted to pass along.

Also. Last thing here from Liz was about the Christmas lights. Yesterday she made a post. Let me just pull it up on the Facebook group. It's right here. You can scroll down to yesterday and see that she made this post right here. She did a screenshot of what Command center is going to ask the client and trying to get as much information as possible. A lot of times, as usual with projects, customers don't really know what they want. It's that in person meeting like Ryan Payne was talking about at the training that is so important with Christmas lights. But this is what they're going to be trying to kind of, if they can get information, they're going to ask the client. However, go ahead and click on this document here. It's going to open up your Google Drive, a Google Doc here. You can see they're working on this right now at command. But this is what you're going to put in your template. So if you want to copy and paste this in your estimate template, so that way you can edit this, modify, etc. Just like you do every other service. You should have a template for. This is the kind of template you're going to want to use. And this red part is where you're going to add in stuff. Okay, so areas, for example front of house, ridgeline, etc. Color choice and lights, etc. And then your price and your budget hours. This is the one time when we're just going to use price and budgeted hours simply because the budget hours need to be there for scheduling purposes. The price needs to just be a dollar amount. The reason we're doing this is because, like we saw last year, as people get closer to us to Christmas, you just keep raising that number, that minimum number. And so trying to do it based upon, like, even linear feet is great until you're trying to just up the price like crazy. We don't want you to have to change the estimate calculator. Like, okay, we're in crunch time a week before, you know, the week after Thanksgiving, we're going to jack prices up. We just want you to be able to put a price, a dollar amount in there and then budget hours for the sake of scheduling. Okay? So feel free to change this if you'd like, but this is just going to be the verbiage that you would want to put inside your estimate calculator. And then this right here again, that red part there, your minimum, that should be what that minimum charge is for that you're using again. Ryan talked about 799 as being kind of what he recommends. And I've seen that consistently be what is something you can stick to. And then I've seen that go as high as 1500. As you get into the busiest season, the busiest time of the year, when everyone wants lights, you keep raising that minimum. And what's really cool is you want to make sure that you have that minimum price inside of your service. Inside of service or super. What I mean by that is when someone calls to command center, they're going to go into your estimate and see what your service looks like here and see what your minimum charge is. The reason we're going to do that is because we are going to want to try to keep away the people that are just tire kickers. At 200 bucks, I think it's, oh, like a hundred bucks. I'll get my lights put up. So make sure that you actually change this inside of your service, inside of Zooper or service autopilot. So that way command center can screen people out when you're really busy and make sure that they know the minimum price before they even set you up for an estimate. Okay? So that's all in there. If you have questions, feel free to ask. But those are the important things. Everything in red on that template needs to be filled out. And then inside service autopilot. All of you already have this as a service Using that verbiage. It's already inside your software, Zooper. It's going to be added today or tomorrow in terms of having that verbiage exactly like it is there. And you'll just need to change the red parts on each job. Yeah.

Cool. Let's jump into questions. I saw there were several came in. I have not looked at them yet. Go ahead and share this screen.

All right.

Get rid of this.

All right, first question. Let's zoom in here. When will command center be ready to field calls for Christmas lights? And if I were to send a one click estimate email today, would they be prepared to answer questions customers have? Yes, they are ready to go as of today. Um, I got all the one click estimate emails out, finished yesterday from Zooper and Service Autopilot. So they are ready to roll at Command Center. Um, again.

We were going to try to do over the phone estimates for lights, but there's so much value in you meeting them and showing them the lights. And a lot of customers don't know what they want. So us asking them over the phone is almost useless because they don't really know what they want until you're there in person and you give your recommend. So it's just really, it's really like we're just trying to set you up for an estimate like we would a scheduled estimate as usual. And we're going to, in the process of setting that up, try to get as much information as possible. But again, remember, a lot of these people, they don't know what they want. They're like, I don't know what colors I want. I just want to see what you got. Can someone just come meet me? So our goal is to get as much information as possible, but a lot of it's going to be coming down to that in person visit.

For lights. I would assume regular verbiage for the estimate notes would be fine supplies. So you could do this. You could do this. But the way that we have configured the estimate notes currently, like I just showed, is just a price and budget hours and I don't like that. I like a more systemized approach. However, I've seen with Christmas sites consistently people will change that, that dollar amount a lot as the season ramps up and they get to the point where it's like, I don't even want to talk to anyone unless they're going to be two grand. Well, at the beginning of the season, like in July, you know, I'd be 800. Well, if it's ramping up, like you'd always have to be changing your cost per square of per linear fit of light in your estimate calculator and just get a lot. So instead just use a dollar amount comma hours and put the hours in and then the hours are going to be used for the installation process.

And for P4P.

I oh well, it was a long one. I charge weekly on Mondays. If card fails I pause mowing right away. My card failed automation immediately emails and text them that their card failed and service will be paused until paid up. The automation lets me know if they update their card through the automation's email and then tells me to charge balance and unpause if successful. But if they have been paused longer than three weeks I I add an initial mo hourly mo first. Then their regular price recurring mowing is set up to start one or two weeks later. I manually email the customer to make them aware of this. We can't be expected to pick up with weekly or biweekly price if it has been 35 days. So problem come in with client calls in past the past the three week mark to pay their balance and command center unpauses their mowing service. This only sets up the weekly mowing to recurring even though it's truly needs an hourly initial mowing to get yard back in shape. Any thoughts on how to resolve this? Does Bellingham resume mowing at the weekly or bi weekly? If balance pay within a certain timeframe since the last mow so the price of that first visit is going to be based upon how long from the past. Okay. And so if they've paused service for two weeks or three weeks for example, or skip service, that next service needs to be adjusted in terms of price. And now the problem is if you're going to do an initial mowing on that that that first one like you're doing, you're going to have to manually go in there and change it based upon the minute like the per minute price if that's what you're doing.

And so really what it comes down to is if your crew thinks it's overgrown, they need to take pictures and then track their time. And so we've at Bellingham is like look, if you think the lawn is overgrown, make sure you take a picture before and after and track your time. Because then what we're going to do is see the pictures. We're going to go and see if they've skipped service four times and we're just going to charge them the weekly are the initial mowing price.

But it's very difficult. Like we we like in the perfect world, if someone cancels one service, we go into the next one. This is something we went, we went over with Command center again after last week's question from Max. And that is you got to go into the next service and change the price. But the problem is, what if they pause service like, because then they don't have an indefinite date to go and raise that price on that next service. So it really comes down to if, you know, in the perfect world, command centers realize that this person is unpausing service and immediately go into like making an initial mo. But they're not going to catch this sometimes because all the different timings of when people start and stop service because it's very normal for someone to stop stop service in September in some markets for us, like, that's when we're ramping up. And so they're not. It's very difficult to expect them to know when pausing and, and starting up is normal because it's like year round, there's different markets. And so I would say, and this is how we do it in Bellingham is like, look, if you think that lawn is overgrown, that is more than 4 inches. Take pictures before and after and make sure you track your time because there's a good chance there's going to be upcharge for them. And so that's why we have in our estimate that if it's over 6 inches, there's going to be an upcharge. And that's what we use to try to keep them on weekly service too. It's like, look, you can skip service or pause service or whatever, but if you come back, that first service is going to be extra because we have to. It's overgrown and we're. You're not on a weekly schedule. So that part of command. So they do pitch on when they're. Someone's trying to pause. When they're trying to pause, it's when they restart. Because we don't have a definite date to go to be like, okay, if you're going to cancel this service, next one's going to be an extra $15 or whatever it might be. It's hard when they just pause indefinitely. And that's why we strive so hard not to let them do that. We try to get them to commit to like a stop start time again. But this is how we resolve it. And that is the guys simply know if you don't think you can make budget hours because the lawn is overgrown. Make sure you take pictures and track your time. So that's how we've done it. And it, like, literally, it's one in. It's so small in terms of the number of them. But even if it's a couple, I know it's a pain in the neck for P4P and.

But typically the crew hates it enough to where they want to take the pictures. And if you tell them, like, look, you're going to get paid more if you just take the pictures and make sure you track your time on those jobs. And then all you do when you're doing end of day is look for the jobs with pictures and like, oh, yep, that client. Yeah, they have. They haven't mowed their lawn in three, four weeks because they keep canceling or they pause service randomly. Okay, great. I'm make sure that first visit, I just go in and change the price based upon the minutes. Because you're going to do that anyways if you're doing it as initial mo like that. Do you have a script of questions that use for exit interviews with frontline staff? If so, can you share outline? I did not have a actual script of questions. This is something that Chuck was talking about at the Memphis meetup. In terms of doing exit interviews, we do not have an actual script. And I feel like there could definitely be one made. And so, Chuck, if you're listening this, maybe you would like to put something together for everybody and then share in the Facebook group. But I also feel like every single firing slash.

Someone leaving is very unique and you're gonna ask very different questions because someone's been here for a year and a half and now they're just. They just randomly left. Total different framework than someone working with you for one week. They were late twice, and now they're leaving. Like, honestly, I wouldn't even waste my time on an exit interview if someone, like, just didn't show up and, like, they're two days in. Like, I'd just be like, my 20 minutes or 30 minutes of setting this conversation up wouldn't be worth my time. But it's probably worth it if you're a new manager and you're like, you're trying to establish a culture and you might be questioning yourself, might be good try to do an exit interview with that person. But I think every exit is so unique. However, there's probably a good framework for questions, and then you can kind of pick and choose which ones are relevant to the person you're talking to. But an exit interview between someone who stayed with you for a long time vs someone who's been complaining vs someone who likes P4P vs doesn't vs someone who's leaving for more money vs someone who's just moving out of town. It's all a very different exit interview in my opinion.

Evansville if I missed this, just put me in the right direction. Any way you could share show some of the math behind the 500k model wondering how you can take a salary out of the 500k model while paying a working GM 50k per year plus bonus? I'm aware. Let me be clear first when I'm talking to a GM that I'm paying $50,000 per year for example as a salary, I am not taking a salary from that location because I'm not there. I'm just going to be taking distributions as a passive investor. I'm aware that this may provide some wiggle room as the model grows more efficient and could reach 600 to 700,000 as we grow route density and maximize margin, but just wondering how there's enough money to draw a salary and pay a gm. Okay, really quickly, you'd only draw a salary if you're working at the location. Okay, if I'm not working a location, I'm just going to take distributions because that way I don't have to take W2 income where I'm going to be tax much higher. I don't want to take a salary from a location. I'd rather just take distributions. But if you're going to do an S corp, you have to take a salary of some sort and so that's why I keep my GM locations as LLCs.

The plan is of course to open another location. Just wondering where those funds would come from. Okay, so if you have a $500,000 location, the goal is to have a manager. Let's say they're making with with profit sharing, let's say 60, $65,000. Okay. The goal is that they're working three to four days out in the field and can produce 60 to $65,000 in revenue. Like their their work out in the field should be able to cover their own wages. Then now it's a matter of okay estimate fees. My goal is to try to cover command center costs with that there's an overhead expense. I got my GM covered with their own labor and now the other three, four employees. I can be pretty efficient and profitable on them because I've covered all my overhead. So but in terms of a salary, I'm not taking a salary from a GM location. I'm not at. They're going to Be an llc. I'm going to take distributions and it's going to flow right onto.

My tax return, my personal tax return. If you're doing an S corp, that's when you would become an employee. And if you're not there, hardly ever. I'd give yourself as small of a salary as possible because you're paying W2. You have to pay tax like a W2 employee on that. On that salary.

All right, sorry. Your next question here. I think there's one more boom.

Brendan, this is an off topic investing question. If not allowed, then stop here and continue home with the next question. How do you feel about investing in collectibles, specifically trading cards? I was a huge Pokemon nerd growing up and now my kids are getting into it. I noticed that the trading Card boxes from 5 to 7 years ago are selling for about 5 to 6x their original price. Even boxes from 2 to 3 years ago are 2 to 2 and a half times their price on release. Do you think it would be a sound investment to buy up a couple hundred of these, store them and sell them in five to ten years at multiples? Seems to be a better way. Better way. Better turn on the stock market. Only real risk. I can see the steep decline in popularity between now and then. All right, so this is the kicker, this last line. You have no control over that. That could happen tomorrow and they'd be worth nothing. And that's what happened. What's happened literally with NFTs. NFTs are now in fungible tokens, like the whole JPEG thing. People are freaking out about. The technology is great. I think it'll be really useful in the blockchain and all the rest of it. But the actual NFTs have been an absolute bubble and over the past few months have gone down 80 to 90 to 99 in value. And that will continue to be the case. I do not get invested in these type of things because I don't believe it's investing. It's speculation. When you have this in your mind, and that is, it's either going to go up, you know, 2 to 5 times 2 to 5x, or it's going to just have a steep decline. You should be fine with that if you're investing. If you're not fine with that, a massive decline, 90% decline, and you're, you'd be like, oh, that's fine. I don't care. If that would be a nuisance to you, then you should not do it because that's not investing. Investing is investing in an Asset that produces cash flow and has real, real intrinsic value. This, this building has intrinsic value because it offers housing to somebody, therefore it has value. A piece of paper that has a collectible on it has no intrinsic value other than the feeling it gives someone because they have a Pokemon of nostalgia. Therefore that nostalgia can go to zero because it doesn't offer anything like housing. And same thing with businesses. The reason businesses in the stock market, in my opinion the stock market, but even more so your small business is better is because it produces cash flow. And a cash flowing asset has value. It produces something, it's a productive asset. And this is why like Warren Buffett doesn't invest in even like gold is because it's a non productive asset. It doesn't produce anything, it doesn't have cash flows, it doesn't have income, it doesn't have profit margins. And so in my personal opinion, I would not touch Pokemon cards with a 10 foot pole. That being said, if you feel like you're, you have an edge on 95% of the population, 99% of the population because you know Pokemon cards, I would do it. If you are just dabbling in this, this is what happened with NFTs and why people are getting burned is why people get burned in every investment vehicle is because they do not have any marketable skill that gives them an advantage over the public. And if you have to step, if you objectively can step back, it was an investment vehicle or collectible or NFT or whatever and you have no advantage over other buyers, you are going to get whacked. The only people who make money in these type of things are the people with the first movers, understand the market and have a massive advantage over all the other players. Okay? This is why hedge funds make a lot of money because they have an advantage. They have massive amounts of data, they have insider knowledge. And so I'm not going to play in a game where I am another one of the pawns in the whole equation. I'd much rather be playing a game where I have an upper hand on the public. I feel like personally I'm good at lawn care. Everyone here listening to this is probably really good at lawn care. Therefore you have an advantage over 99.9 of the population in terms of your skills. And therefore you have a marketable skill that you can have a premium, a profit on Pokemon cards because your kids had them. If you're gonna go get them because your child has them, that's another thousand parents that have the exact same thing. You have no no differentiation. You have no advantage over the market. The only reason you get outsized returns like 2 and 3x returns or 7.10x returns over the past five years is you have.

A advantage over the market. So one man's pov Couple questions and I did want to go over some education stuff. Any plans to go to GIE this year? Yes, Liz Lee and I are planning to be there. I hope this my masterminds top mic gets fired up about Pokemon cards. Oh man, cool. I wanted to in terms of education, just really quickly go over something and it's only because I had talked to a few of the owners on the weekend and recession keeps coming up and that's a good thing. It's always going to be good thinking about that. But keep in mind that when a technical recession is is.

Stated by the government here, one second, let me pull this up. There we go. So just, just keep in mind like, like with a technical recession, where is 2/4 of GDP decline when that is issued or that is stated by the government? If you look back in time when recessions happened, when they actually came into a technical recession, the worst was actually usually behind them. Okay, so in September is when theoretically we're probably going to enter a technical recession from a 2 GDP quarters, 2 quarters of GDP going down and you're going to see all over the headlines, you know, we're in our technical recession, blah blah blah. It's going to go haywire. If you look back in time though, 2008 and every single recession before that, most of the time when that technical recession happens, it is not the brink at which everything falls off is actually the point at which we are the worst is behind us. So I say all of that to say it's been for the past eight to nine months I've been talking about recession and there's a very good possibility we have seen the worst already in terms of energy prices being super high. In terms of inflation being at its peak, in terms of interest rates on housing being at their peak. Interest rates went from six and a half percent to five and a half percent over the past month. Okay. Energy prices went from an average of over $5 to almost a dollar left like 20% decline. Okay? Energy is a huge driver of inflation. Inflation hits peak is in my opinion at its peak right now at 9.2, 9.3% probably going to come down. Okay. Inflation, not like we're not going to go below zero, but it's going to be a matter of the inflation will decrease. And so all of that to say that when we talk about recession, it's very good to keep that in mind. But also don't get into the fear trap that as you hear more and more about the recession, you think the recession is getting worse. Because actually what's happening is people are just catching up to the data from three, six months ago and now they're in a recession when everyone is freaking out about it. This is why Warren Buffett says, you know, be greedy when others are fearful and fearful when others are greedy, because typically when everyone is fearful, the worst is already behind us. If you look at the data of when a technical recession happens, usually we're already out of the trough and on our way back up when that technical recession is called. So when everyone's going to, in September, October, November, in my, my prediction is that we're going to like, oh, my goodness, we're in a technical recession. People are going to freak out. And in that moment, the riches have already been made in, in June, July, August, like, we're in the trough right now. Peak inflation, interest rates at their peak. I don't think we're going to go above six and a half percent for mortgage rates. I don't think we're going to see a Fed fund rate of 5, 6, 7%. I don't think we're going to see that. And so my warning to everyone here listening is keep in mind that when people start talking about recession and it's becoming a technical recession, usually the worst is behind us. That could mean that we are actually in the trough. The worst of it right now, in terms of inflation being its height, energy prices being their height, interest rates, interest rates, in terms of mortgage rates being at their height, all of that could already be behind us. And like, for example, let's just say in the next few months, you know, knock on wood, let's all hope and pray that the Ukraine war ends. Immediate pressure off of the European Union, gas prices, energy prices will come back down. We could easily deflate very quickly. And I don't mean deflation. I mean, like, the inflation would decrease within a matter of a couple of months. So don't get into the fear tactic of like, oh, next year, I'm going to start, like, conserving cash for next year. This could all change within a couple of months. And if it does, if it does, I would say that the worst is actually like, we've just come to the worst. June, July and August, like, that was like, worst case when it came to unemployment, when it came to all those things. So yeah, all of that to say don't get by into the hype, don't allow the fear mongering to get you down. Because I actually believe when everyone starts freaking out about it, the worst is behind us. And if you invest at that moment, usually you're riding a bull market. So you know, if you had to ask me what my prediction was, because people ask me that, I would never share this publicly. But my public prediction, my private prediction for all of you is this. I believe we are in peak, peak inflation right now. I think it's going to start coming down. I feel like the Fed is going to hike interest rates one more time. I don't know if they're going to do a point 75% or 1%. If they do 1% we have a real risk of going in a very bad spiral.

Because if they do that, if they raise interest rates by 1%, that slows the economy down dramatically. Right? But then if at the same time something like the Ukraine war ends and then inflation disappears, you have a point now when all the costs are going down, they've raised the funds rate like the Fed rate, the interest rate of the Fed, you could really get ugly really fast. My personal opinion is this, I think the worst is actually behind this. I think that interest rates are going to stabilize for mortgages around 5 to 6%. I feel like the Fed fund rate is going to even out around 2.75 to 3%. The 10 year Treasury, I should say. And I feel like in September, October, people are going to freak out because we're in a technical recession and that's going to be the exact moment we're actually coming out of it. Because energy will start becoming, the energy prices have already started to come down. I don't think they're going down a lot more. But if we can get down below like $4 a gallon, stuff like that. So my personal opinion is that we're going to have the worst is actually behind us. I actually believe that. I think the fight, the Fed is going to watch what's happening very closely. Like last week the Canadian bank, the bank of Canada raised by 1% interest rates and man, it is popping their real estate bubble like crazy. Vancouver is right across the border from us. So I, I have a lot of friends up there like my, my sister and her, her husband. Their, their mortgage has gone up $500 per month in the past three months. Because up there adjustable rate mortgages is mostly what people get. 30 year fixed mortgages are literally only in the United States it's very rare to get a 30 year fixed mortgage anywhere outside the United States of America. It is literally a gift from the government and a gift for being American that you get an FHA loan or you get any sort of fixed, fixed interest rate for 30 years. Up there they have, you know, adjustable rate mortgages or ARMs, 5 year, 10 year, 7 year adjustable rate mortgages or variable rate interest rate. It actually changes every single month. And man, the Canadians, they put 1% interest rate and when you take someone who's used to paying 1 and a half, 2% interest like they do up in Canada and Now sudden that's 3%, it's a huge increase. So they're, they're, they're, they're their real estate markets popping like crazy up in Vancouver because it was, it was so inflated. But anyways. All right, last question here. Your Mount Vernon property, is that all just traditional lending? Do you pretend for the sake of the lender it will be your primary residence? Yes. And I don't really mind saying this because any good agent will tell you this. The only way, the only reason you need to have this as a primary residence is you need to have intent to live there for one year. And your plans can change after one day. Okay, so you can have intent. I haven't perfect intent right now to go live in that property. The owners are moving out. It is going to be vacant this Saturday. I am going to go make a video and it'll be vacant. And if I need to show that to the irs, I will.

But ultimately you just need intent to live there for one year in order to be, have a primary residence and that to be your mortgage. Your interest rates are way better if it's a primary residence. Way better. You can get a 30 year fixed mortgage. You can't get a commercial loan for an investment property. I shouldn't say you can't. It's harder to get a 30 year fixed mortgage on a commercial piece of property where it's a, a renter inside of it. So the best case scenario is buy a piece of property, it's your primary residence. You go buy another one as your primary residence and rent out the first one. And you keep doing that. You can literally do that 20 times. Okay, I shouldn't say it. You can have 20 units. You can have, I think it's eight or 10 mortgages that are that way. So if you have a four plex is considered still your primary residence. You can literally buy a fourplex or a duplex. Buy it, using it with a 30 year fixed mortgage using regular primary residence type of loans, and you get up to 20 units like that, and then eight depending on your state, eight to 10 mortgages that are primary residence before you got to switch to commercial only. So literally, the best way to do it in terms of investing in real estate, in my opinion, is buy yourself a house, whether that be a duplex, triplex, fourplex, whatever, rent them all out. And then after a year or two, or when you can afford the next down payment, buy another one and rent out this one and you still keep the 30 year fixed mortgage. It's fantastic. Okay. All right, wonderful people. Have a great rest of your day. Happy Tuesday and we'll see you tomorrow.