Mike Minutes Mastermind 11/07/22

Hey everyone, hope you're doing super well. Let's get started. I am at a tire factory tire shop, Les Schwab it's called. Right now.

The tire on my car literally sounds like it's about to pop off. It like pops and crackles and I have no idea what's wrong with it on suspension or what. But anyways, they're checking it out. Let's go ahead and get started. Quick announcement. And that is in relation to the tax side of things. If you are wanting Brad to do your taxes at the discounted rate that we're doing for all the destination, make sure you fill up the form within the next couple days. Any available spots that we have after that we are going to allow the public take at a higher price obviously. But if you want to get in, fill out the form, fill out the link Brad will post on the Facebook group again today. So if you don't have it, don't remember it. He will post that today. Make sure you get fill out next day or two. And I know he's already started doing a lot of the tax calls with those of you have filled out the forms and started tax prep for end of year and strategy in terms of section 179s amortizing. Amortizing things and just looking at your expected tax liability for this year. So definitely though if when he posts that today, if you are wanting him to do that, do it the next day or two because then any available spots in his schedule we're going to go ahead and allow the public to take. All right, let's jump into questions.

Take a look at these yet. Let's see here. 4. Okay, Eric, how do you. How do winter services appear on invoices at the local shop or your locations? I would imagine having the full list of services on both service entries may be a bit cumbersome. We do leave the full list of services on there.

As it says in the service notes. It's long but again you're trying to show the value to the customer. If you wanted to, you could probably paraphrase it or cut out some of them, but I would not. Just like winter services and a dollar amount, you will get a lot of people calling you back. What does that include? Etc. Etc. Etc. So we always do include the whole verbiage of estimates. Estimate. Yes.

You have the red Civic.

I do, yeah, yeah.

You got a second there?

I do, yeah. Give me one second. Give me one second guys. Go ahead.

So the P or. Sorry. Yeah. Passenger front lower control arm is broken.

Got it. It's a sound like.

Yeah. So I'm going to call. It's not a part that we list, so I'm going to have to call and we'll get some info about availability, price and all that. Got it. Are you.

Is it even safe to drive?

That's the thing. I mean, I would say short answer, no.

Right.

There was a lot of risk if that thing. I mean it's basically like.

I don't know, it's basically like two parts that connect to like the frame and then it kind of turns into one part and one of the arms is completely broken off.

Broken. Or should I take it to the dealership? You think? Like, is that something they would cover?

Oh, did you just recently buy it.

Or a couple years old?

I mean, I don't know, maybe if you have, I mean if you have some sort of warranty that you got with it, it would at least be looking worth looking into.

Okay.

For sure. Yeah.

Okay.

Yeah.

Okay. Well I. I'll order whatever and just get done. How long do you think I'm taking to get in? I'm not sure. Okay.

They might have it on the shelf. It's just a matter of getting here.

So you want to hang out for a minute?

Yeah, I'll hang out.

Okay, cool.

I gotta finish this meeting up anyways.

Well, I'll just leave you with the keys. That way I don't set them down.

Okay, cool. And then if, and I guess I can, I can park at the office or something close by.

That would be if you just drive it somewhere and park it until it can get replaced. That's probably drive it consistent.

Okay. All right, thanks Kyle. Sorry guys. Okay. Sounds like my vehicle is no longer safe to drive. The suspension literally broke. It sounded like that too. Okay, here we go. We are currently using simple growth automations for our current brand when we switch to Augusta in January. How will we switch automations? Is there an automation schedule we can have you set up for us? I'm thinking primarily theme of follow up automation and season specific sell automations. Yeah. So whatever you have in there you can keep if you'd like. But we have a whole suite of automations that we pull in for follow up, up sales, etc. So you know, feel free to screenshot what you currently have or something like that if you'd like and if you want to cherry pick some of the ones you like to keep. But we have the follow up sequences in there, up sales, etc. So.

All right. The video about how to remove mowing jobs for winter must have offended someone. It was removed for harassment and bullying. Yes, it was. I think it has been put back the. So yeah, it should be put back. Basically what happens is Google randomly flagged these videos and then we can't do anything. We have to submit a form in and a lot of times because we don't check a box that says it's safe for children. So if we. If you do that and then they flag it, it's like almost automatic now. So that's why actually last year they took down our whole channel for an entire like two weeks. It was horrible.

So.

My bank reached out to me about a HELOC this morning. They said 45 days to close interest was currently around 8 to 9% depending on the amount taken out. Only pay interest payments when the. When the kind is used. Kind of like a business line of credit. 50 year leafy for having the line open. Thoughts on whether this is good or bad debt? I would use this to fund second location. They said I would have access to 50k.ish. What's nice about this is that they're allowing you to interest only payments. I don't like the fact that this is a variable interest rate. So.

You know, 8 to 9%. I don't know if they're fixing that. Actually they're probably not because they're allowing you to I'm assuming is a revolving line of credit means you can pay it off and you can pull it back out again, you can pay it off some more, that sort of thing. I like those because then when interest rate go up, I just pay them all off. And when they're really really low, like you can pay basically no tax, no interest on these, on these helocs. So it'd be interesting to know is this a revolving line of credit, is it a variable interest rate or is they fixing you at 8 to 9%?

That would be two things I'd be thinking about. And what's nice that they're making you do only interest payments. That's what makes me think it's a revolving line of credit which means you can pay it off and then you can get more. And if it gets it's not like a fixed term.

And so if that's the case, I think it's a good use of funds because you might literally only end up spending a few thousand dollars in interest before you actually pay it off. If you have an aggressive growth pattern, you spend the money, you grow it up and then you just try to pay it off within that first year. That would be. You literally only end up paying a few thousand dollars in interest.

Yeah, I know. Like what's up with that, right? I know you guys could hear that Mercy. Okay, cool. Well, I think that's all I got. I apologize for the bad. Probably audio and ringing in the background and everything but figured it'd be better than not doing anything at all. Yeah. Make sure they that if you are doing the tax with with Brad that you fill out that form within the next couple days and any remaining spots we're gonna allow the public to jump in on. Yeah. I've been overhearing several of your calls with him and I think it's been very helpful in terms of the strategy side of things as we ended come to the end of the year picking what things you should buy, what things you should amortize which section 179 and just having an idea of where are you at in taxes to kind of start budgeting for that if you are going to be owing in January, February, March in that realm. So cool. That's all I got for you guys. Have a great day. Take care.