EP 579 – The Dallas Real Estate Investment Market With Jer’Leigh Thompson

This is the no Closer show where you get the latest developments in distressed note investing and learn the secrets of how you can control millions of dollars worth of property for pennies on the dollar. Get educated and entertained by someone who has closed thousands of deals and lives to support you in achieving the same. Now, here's your host, CEO of We Close notes Scott Carson.

Good morning, good afternoon, good evening, everybody. Welcome to this episode of the Noclusion Show. We're recording this on a very special St. Patrick's Day. As we know, the chaos and coronavirus has kind of thrown everybody in uproar, but we're still rocking and rolling, knocking out episodes and then wanted to still make sure that we're talking about the different markets out there, different areas of the country that people love to live in, love to invest in it. We know things are going to change, but that's why we're so excited about this episode. We're going to be focused on the big dude, the DFW market. And our special guest has lived through and been an investor not just a couple years. I mean everybody can make money in an up market. But she's been around since the last downturn, last cycle in 2008, 9, 10 and 11 and everything like that. So we're really excited to have my friend Julie Thompson. She is the brokered owner of Textcell Real Estate. She moved into real estate 16 years ago after a lifetime in the hospitality industry. So what does it mean? You got into it when you were five or six?

Yeah, right. You're so sweet.

She's having made it through last housing bubble. She knows firsthand how to pivot to survive. So that's why we're excited to have her on here. It was that housing bubble that made her align herself with residential investors and learn to invest in her own ventures. This ultimate led to becoming the originated broker for Propeller.com, you guys may be familiar with Ryan Harper and everything may see me over there on she's the real estate divas with our friend Kristin Gersh as well. But she is there at Propeller, which is the investor online deal management platform and education tool. So we're honored to have you join us from Dallas today. Julie, how's it going?

Well, thanks for having me, Scott. I'm happy to be here and we're.

Honored to have you here. So you and I were talking beforehand. It's a different market and this idea for this episode, obviously a little bit then when we set this up just a little bit, how fast things can change But I think we're both used to seeing it happen in the different real estate markets too, though, right?

Absolutely. I mean, maybe not quite at this lightning speed that we're just now on the beginning cusp of, but we both lived through and dealt with. Been in the real estate market and dealt with when things have completely got turned upside down and you had to figure it out from the bottom up.

One of the great things is that we do have that experience. So instead of us diving in and just going, hey, here's what we expect, I think we can talk about where the market is at kind of currently, because still people are still buying, still people are selling.

Yeah, I still have deals working right now. You know, they're not backing out. They're not saying, that's it, we're done, thank goodness. But we still going on trying to do business as usual as best we can.

Let's talk about the market. Cause Dallas. Are you invested in Dallas or working with investors? Both in Dallas and Fort Worth and Metroplex area, yes.

So that's kind of how I got started was obviously when things tanked is working with investors, and I just found that more interesting. Anyway, so, yeah, I'm all over the Dallas, wherever the deal is, kind of what my clients are, wherever the deal is. Some of them have their little niche markets. I've kind of. Most of my stuff I've tried to kind of locate here in Arlington because that's where I live and that's where I've grown up.

And.

And I just decided after kind of doing deals here and there that it's better to keep it as close to home as possible. So I still see I'm still on all the platforms where people are announcing deals saying I'm interested in that deal. So this is all moving pretty fast. But Dallas is a good market. We've had a lot of growth here over the last seven years, Especially these last seven years, has really exploded here, and we had a lot of room to grow. Whereas Dallas being kind of in the middle of the country, we don't see the highs and lows that both of the coasts see. So when the bubble hit, it didn't hit us as bad. So this was A lot of people came here to take refuge from the disaster areas on the coast. And we've really benefited from that over these last growth years of about seven to eight years.

Yeah, that's definitely the truth. I mean, we were pretty blessed in Texas. We didn't take a bigger dip 12 years ago. It was a small dip. I mean, Some pockets around the state a little bit harder there, but it kind of leveled fine. I mean, we had our share of foreclosures and everything, but the market rebounded strong and gone from there. And it's really done well. I mean, both friends with Nicole Espinosa and she's seen an increase in short sales in the higher end markets. But where are you seeing the most of the activity taking place? And what you see out there, you seen that the first time, starter homes at 250 or below or 300 below, still seeing a lot of movement in those markets.

Yeah. So that's our biggest growth right now. That's where we our median sales. We have like two different sections. So we've got the two to $300,000 range. And those are really considered more of the starter homes. Not that you can't get something for less expensive than that, but I mean, that's where most of it. Those go on the market. They don't last long if it's priced right. I mean, it's gone in a week. We're still seeing that. I just listed something a week ago and it was sold. Multiple offers are still out there and we got multiple offers on that one. So it's still a hot market. It's not quite. I'm not getting 15 and 20 offers like I was two years ago, but that's a headache. That's its own kind of problem, you know. But we have the 2 to 300,000 and then there is a 3 to 4. So that's kind of like the next step. I'm selling this one and I'm getting into that one, or the new builds, that sort of thing. And that's modest market. I said the ones that sit on the market longer are either the ones that are not priced right, finish out wasn't done just right, or it's just. It's over that 430 mark. And so those tend to sit just a little bit longer. That's a different, higher end buyer for this, for our Metroplex. Because you get a lot of bang for your buck here.

Yeah, you've got your share of people moving in and investing in Dallas and a variety of things, residential, commercial. And your dollar does go farther in Dallas than it does in Lake Coast.

Yeah.

Now what are you seeing as far as kind of like deal flow? Are you seeing a lot of people working the direct mail side of things? The bandit signs, the doorknobs?

I've been seeing more bandit signs lately. I mean, definitely those because there for a while people kind of stopped from that. And we saw the mailers and it seems to go in cycles. Everybody's like, oh, well, they're not doing. I don't see as much of this. So now I'm switching to this. And then obviously the text messages. The text messages like crazy. Because that's the cheapest way to reach the most amount of people in the shortest amount of time. And so that one has just blown up here. I know that they're getting good response. And it keep happening. It keeps happening. I do have a lot of clients out there that'll contact me because maybe they've gotten three text messages and they're like, what's going on in my neighborhood? Oh, my gosh, do they know something that I don't know? And I was like, it's solicitation. Come to me. I mean, obviously that's the easiest way to reach everybody. The quickest.

It helps me if I hit the unmute button there.

Oh, okay, okay. I was like, it's raining here. So is it here?

No. But the text message market is a great use of technology to originate leads, to find leads and make it very, very easy. A lot cheaper than other places. Well, therefore, what do you like? You being an investor as well there. What's kind of your bread and butter that you love so much that just kind of gets you excited when it comes to the real estate investing side?

Well, the real estate investing side. What's strange is, whereas I was doing a lot of calls, I'd hired some VAs, we were doing some calls. I'm doing more of. I'm not doing. I've done a few flips the last year, but I'm not doing those right now. I'm doing more of a buy and hold. So I've been able to pick up. The last one that I just picked up was off the MLS mix. It wasn't priced right. And nobody's looking right now. Nobody's looking on the most investors are not looking on the MLS. They're doing their stacked list and they've got their VAs working them like crazy. And so you've got a ton of people working the same deals or doing the email blast, whereas used to work with a realtor and look at days on market and then, hey, I'll throw you this low ball offer and see if you're ready to take it yet. Which is how I picked up the last one. So it's kind of fun to see that one come back around because that's right there at your fingertips.

Yeah, exactly. Where you can manipulate the MLS to send you updates and things like that. And what you're targeted is really, really a smart thing. Are you seeing an increase? And it may be too, maybe too soon to know, but you guys can do Airbnbs and short term rentals up in that neck of the woods relatively without the city jumping and saying no, like they do here in Austin, right?

Well, for the most part, like Arlington itself, they were one of the first to pass the legislation to block off a certain area. And that area is pretty small and there are people that were grandfathered in. They basically have till the end of this month to shut theirs down if you do not fit in that singular criteria. Whereas they were really upset about it just not too long ago. They may be a little bit grateful for it now because they've prepared for what's my next. As everybody now with Corona at hand and people getting shut down or getting cancellations left and right, then they're kind of scrambling for what can I do to save this?

Well, whatever's worked. You know, we've talked with some different other investors and text messaged some of my friends out there across the country and they're like, yeah, it's still holding steady, but we're starting to see a little bit of an increase in cancellations as events get canceled or stricter things. But that's the beautiful thing is when you have that aspect, if you've had done a good job, you've usually getting overbooked and still making profits even if you lose a chunk of your rentals. Correct?

Correct. Correct. In fact, Kristin and I are probably going to do a show this Friday and it's about that, specifically that and the arbitrage. Because the arbitrage. Whereas if you own the property, it might be a little easier to manage that arbitrage. It's a little stickier situation. It's going to be interesting to watch. It really is going to be interesting to watch. I know just from talking to Kristin and her switching things up, she was able to extend one of her Airbnb so that it was already a nurse at hand. It was in town for, I think it was some sort of assisted or in home care or something like that and went ahead and now she's extending her stay. So in metropolitan areas, that's a whole new avenue that maybe some of these Airbnb or arbitrage want to kind of target is the people that are going to be the influx of people in the medical industry that will be coming to metropolitan areas.

That's a Great. Because they're often getting paid, they often get a nice allowance for housing that is usually higher than normal rent and can be short term. And I know that's one of the things that we've done in the past in different parts around military bases of short term rentals, because I have officers coming out and going and that effective way of doing things. 2, 3, 4. Now Arlington has gone through some changes over the last couple years too, with the ballpark kind of moving as well. And then of course you've got Jerry World coming in from Irvine and stuff like that. Yeah, unfortunately, with the seasons being pushed back or things like that too. But I think what's great is you do have that capability just come back up to have a lot of opportunity for people coming on the weekends and games and stuff like that too, Correct?

Absolutely. So even in that small little area, if you manage to get a deal that you think will pay off in the Airbnb zones area, then it will pay for itself. I think with Arlington, because we do have, they've managed to secure the Rangers and the Cowboys entertainment district and they're trying to build that up substantially. They don't want anything to come to be a major competition to large hotels in that industry, the hotel motel industry. They're trying to get more of those clients, slash customers into this region. And that whereas there was some complaints about the Airbnb's, I think it was really the money that was talking whenever they put that zoning in place, everybody that's in that zoned area, they're going to continue to make money as soon as the seasons come back around, be able to gain that back, get that money back. And like I said, anybody who's not in that zoned area in the Arlington city limits, they've already prepared for having to discontinue their Airbnb at the end of this month.

Now, speaking of months, where are you seeing before this whole thing? Where were you seeing like days on market and the amount of inventory that Dallas was having?

So days on market was. I mean we are still a seller's market. We're still kind of short as far as the amount of houses. That's why we're still seeing the multiple offers and short days on market. Really and truly, if you're priced right and in your, if you're in that sweet spot of the 2 to 300,000, then you're probably not going to be on the market more than a week. But the average days on market are somewhere around 13 to 15 days. But anything higher than that 375something up there. Then you're going to see longer days on market.

Have you seen rent rates increase in the rent rates?

Definitely they have. They've increased substantially. In fact I think what was it I wrote down over the last 10 years they've almost increased 60%. So it's been substantial. And really that has been in the last three years. I feel like that's where we've done the majority of that rental increase. I know my rental units for the longest time they were just stagnant. They set at the same price. Like this thing's never going to go up. It's never going to go up. But now I'm seeing it's almost doubled, you know, in the last three years.

Wow, that's really nice. Double in the last three years for it. Is there a price point rent wise that you have to be careful of in the Dallas area? Like in some of the major markets of anything below $500 is like a two gun alley that you can make money there. You just gotta go in with two rifles. And Texas, you know, guns aren't always the contributing factor for a bad area. Right.

Yeah. Well really and truly. So if you're going to do something average, the average is somewhere around 1350, 1375 for a small. We're not talking typically a larger apartment or home. If you're going to end up in a sketchy neighborhood, sketchy is going to be somewhere around $1,000. Getting anything in that range is. You might need to watch your back. Carry that mace, watch your back. It's going to be in a really sketchy neighborhood. Twelve hundred dollars still a little iffy in East Arlington and over near the ballpark you can still get things. You can still get a three bedroom one house for 1400. Now it's going to be an older neighborhood. It's going to a 1950s 60s home may not look the best driving down the streets. Maybe somebody fixes cars next door, but it won't be an absolutely horrible neighborhood. It's going to be older.

Yeah, it may take a little bit of work there for it, but that's where you find the biggest bang for your buck and being able to come.

Exactly DLC to it.

Right.

Well and that East Arlington area, there's like a little bucket there that in between the Arlington High and they're doing all this revitalization in downtown Arlington where they're making it just walkable down there. And then in between that you've got Arlington High, you've got the walkable downtown area and then you've got the entertainment district. And so all of that, which is was considered kind of in places a little sketchy now is becoming kind of prime property. And we see that gentrification all the time. I've seen it all over Dallas. Just like the Oak Cliff, East Dallas now going into Fair park, you see that west Fort Worth, you're seeing it.

A lot of good growth there for you. Now vacancy. Let's talk a little bit about multifamily. You ever dive into that A little bit, have clients that are working on the apartment side of things now, as.

Far as diving into that, it's been so long that I'd hate to really walk on that. Yeah, not a problem at all.

Hey, you know your expertise.

Yeah, yeah.

And apartments are the most overpriced asset out there. Class right there. Although we will see some stuff hitting the market here.

We will start to see some things.

Yeah, yeah, let's go back into that. Now, obviously, with technology being different now than it was a decade ago, I know that we've already started to see with some of our mutual friends an increase in maybe some subject to deals where people can't afford to pay. They've been laid off. I think we're going to see some issues with employment in the DFW area because of a couple of reasons. Right?

Yeah. I think we're going to definitely see one of the largest headquarters here is American Airlines. As we know, there's travel industry is getting hit hard with this. And so far American Airlines hasn't started laying anybody off. But I know other travel industries that are corporate travel agencies that are laying off people left and right and they're doing that and being super kind of proactive is the wrong word because it's not a pro. But there are people getting laid off left and right right now.

Yeah. And you have Southwest Airlines has big offices there as well, too.

They're in Dallas.

Yep. Banking and oil. Let's talk a little bit. You got big oil, obviously response there in Dallas or two. The oil's being down across the board, too. I saw $1.74 for a gallon of gas today.

I know it's crazy. And then the gas prices plummeting. I mean that's going to hit Texas hard across the board. But Dallas, Fort Worth, I mean that's one of our big industries that was part of our last crash was oil was layoffs. And then here come the foreclos. One of the things that I was just talking about with an associate earlier today Was just about how they managed it last time, how our government managed it last time with us trying to do the buyouts with the big companies doing the buyouts and hoping for the trickle down. And we all see how that worked out. So maybe this is an opportunity for them to take a different tactic. We were just trying to spitball some of those options might look like. I feel like there's a real opportunity here for some changes as far as not having the same. Same exact. It's going to hurt everybody across the board, but not maybe not having the same exact crisis that we did years ago.

Yeah. I think the banks are not ready at all for what happened in 2008, 9 and 10. And then I think we're going to see things where we start to see this in different parts of the country. I got an email from my attorneys that kind of tracks in multiple states talking about how some states are already canceling evictions for the next 45 days.

Exactly.

We've seen in the past where attorney generals have come in and canceled foreclosure proceedings and it's tracked for six months off. I think the banks will come in, obviously. I think the Dow is up again today, which is nice. Versus it being down 30% over the last three days. Three business days for the most part. You know, it's hard to see what the stimulus package is going to be about. I mean, Texas is loved because of the fast foreclosure ratios. I mean we got fast foreclosures, fast highways, fast executions. I mean, come on now. Right. We're dying to invest here for the most part. Pun intended there. Right? Yeah, that's the same thing. We're going to see a delay on things and then this is by no means, oh my God, run out and start buying all you can. It's going to take a little bit of a hit. We're going to have layoffs. People are going to be looking to move or as they get repositioned in new careers or other things. Best way to look at be almost like a hurricane hitting the Gulf Coast. Banks weren't a rush to foreclose because they knew insurance was to come in. They're hoping to payouts going to come through and stuff like that. I think the biggest opportunity for those that are marketing is looking at tracking down maybe those people that are in the working for companies that have been the hardest hit and starting to reach out to those people say, hey, just here to help anyone we can do to help you out. Because there are a lot of things that we can do to make it a win win across the board when somebody's facing financial difficulties like we did a year, 10 years ago. Right, Julie?

Absolutely.

Well.

And like whenever we spoke before, when Kristen and I were talking to you and you're explaining all about the notes and the note business and made it sound so sexy. So that alone is restructuring those loans so that people can still afford their home. They're gonna find another job, they're gonna find something else to pay those bills, and they still need a roof over their head. So how do we restructure things? And there's still a way to make money in that industry.

Yeah. And that's a big thing. There is. We've seen an increase, and I think you've probably seen that too, with people already looking to have somebody take over their mortgage. They're subject to deals or coming in and adjusting your rents if you need to forgive rent for a month or two. We've seen that in different apartments. City of Austin actually just came in recently. I wouldn't be surprised if we see more of this where the utilities department's like, hey, we're not turning. If you can't pay your power bill this month, we're not turning you off. There's a way to kind of alleviate things. Best thing I think most people do is just, hey, empathize, realize this isn't. We're going to be back to normal in a week. I think we're stuck for 30, 60, 90 days.

I agree.

But that's still three months behind. That puts people in a default status and just seeing what's going on. But I think there's opportunity there. It's just knowing where to look at and how to approach it, timing wise. Right?

Exactly. Well. And if everybody can get on board with this kind of prolonging, whether the mortgage companies have to prolong that mortgage to tack it on the end or somehow spread it out over a period of time. You still get your money, but we're just. Everything's on hold right now. Some tactic like that will give some people some room to breathe. I think the hardest thing that will end up if everybody can get on board with something like that, the hardest thing that to get over will be the ones that got laid off that can't get the job right when things start to get back to normal. Because companies aren't just automatically going to be like, okay, we're hiring everybody back now. It takes some time. So what does that time look like once we're not all quarantined for A month to three months now.

One of the big things I think is great about the Dallas market is the availability of so many different investment clubs and meetup groups and this really great networking in the Dallas market. Unlike a lot of other places out there, everybody kind of works together for the most part. Would you agree to that?

I would totally agree to that. It's strange. It's been so like after diving in however many years ago, like 12 years ago or something, whenever 12, 13 years, going to the Roddy meetups and all these other little meetups, trying to meet people and get information and spend little money here, spend a little money there. There wasn't really the camaraderie that I see and that has developed over the last three years. The last three years. It's been incredible to watch this whole community of investors that most people around the country consider you're my competition. I'm not going to reach out to you, I'm not going to tell you my secrets. But it's been interesting to watch everybody here come together. Hey, you've got an idea, let's bounce that off of each other. There's enough for everybody and more of the idea of we're better together type of mentality than you're my competition and I'm going to keep all my secrets over here. It's been really neat to watch and be a part of.

Are you seeing a lot of outside investors from California, other places coming into Dallas in the last few years? You know, I imagine you have. And if you have, what do you see that they're really looking for?

We have and they're looking for a lot of buy and hold. As far as what I've seen personally buy and hold. They know how much our properties have appreciated. Granted, it's not the skyrocketing that you're going to see on either one of the coasts or down in Florida or anything like that. But it's substantial and it's steady. Ours is consistent, real deep dips and that's attractive.

Cash out of the California condo and buy three of them here in Dallas and Texas.

Exactly. Yeah. Yeah. It's a no brainer. It's like we're cheap compared to them.

Well, you've also got. You've also had a lot of people that have money. They're looking to invest and looking to lend as well too to other investors on either mezzanines or fix and flips or things like that as well. In the DFW market, different IRA investors in quest of their neck of woods as well too correct.

Well in Quest has their own educational which is this quest IRA lending. Like two years ago I didn't know anything about that and then now I'm like, wow, I'm telling other people about. No. Have you thought about your IRAs? Let's look into that. You've got money, we can invest that. But again that just goes to show you like what social media, all of these meetup groups and then everybody kind of the camaraderie and the pulling together of resources that's happened here.

Definitely, definitely. Now do you like to go out and show homes to your traditional first time buyers? You prefer working with investors? I know loaded question, softball, but get a lot of listeners out there.

Yeah, a lot of listeners. No, I do like really and truly. I like the first time homebuyers in the sense that I like to be able to get them a deal. I like the programs that are out there. Texas offers some great first time homebuyer programs and I've helped a lot of my friends, my friends kids get into homes on those first time homebuyer programs. And there's nothing more exciting than somebody to be like, oh my gosh, they're going to lend me that kind of money. And I get this house because I know the first time I bought a home I couldn't believe somebody was going to lend me that kind of money because you just don't think of it that way. It can be a little bit more tiring whenever you're working with first time homebuyers or buyers in general. So I like dealing with investors just because they know what they want. It's usually a more interesting transaction and I do it myself. And if I'm not teaching somebody how to do something, maybe they're teaching me something that I already know.

I know that everybody's different as a borrower, but any interesting lending programs that just stuck out to you from some of your buyers that you're like surprised a little bit.

I did a segment on the real estate divas about the i10 buyers, the ITIN buyers. I was able to put that kind of put together a pamphlet and get that out to a lot of. Since the industry prior to real estate was being in the entertainment, restaurant bar business. So I still know a lot of people have a lot of connections in that industry. A lot of their employees are i10 buyers. So it was to be able to pass on this kind of information and get them into houses. That's not really something that I had ever even dove into before till about a Year ago.

For those that don't know what's an ITIN buyer.

So an ITIN buyer is basically, yes, they are here, they're working legally, they pay their taxes, but they do not have a Social Security card. So it's a foreign national that's here legally. But they're allowed to purchase property with an ITIN lender. And those lenders, obviously they're gonna require more down payment and higher interest rates because you don't have the social and you're not a citizen, but you can purchase property in America.

Well, that's one of the great things about a lot of those ITIN buyers. It's a little bit different mentality. They're very good about saving. They have family. Family comes together. It's important. A lot of people put money together to buy a house. They'll have a whole family living. There's as a way to get in and if any of they're paying that mortgage, first and foremost, because we've had some of those, we've originated some of that in my previous life. But that's it really becomes a good solid borrower. And a lot of times you've probably seen that too with owner financing taking place. Find people that on the ITIN side that can get qualified, but they've got a down payment to make things happen. Correct?

Absolutely. Well, and even with the owner financing, one of the deals that one of the flips that I just did, I didn't personally owner finance it, but I did place them with an owner financing provider. He's a citizen, he's a doctor, he just debt to income with those student loan, all of the student debt, all of the college debt just made it terrible on paper. So he'll do that for a year and then be able to refi and get in a regular loan.

There's opportunities everywhere if you just know where to look.

You just gotta be able to juggle those balls and know who to talk.

That's the beat. Know who to talk to. That comes from networking, that from being out there, seeing what's going on, learning, you know, taking opportunities that come across you and realize. And no, maybe not means not now. But there's a. There's often multiple ways to. Hate to use the term, skin a cat for the most part.

Yeah, there is. There's a hundred ways to skin a cat. I mean and like you said, networking is super key in doing that. Just knowing who to call. Even with that deal that I told you, you know the flip that's now owner finance. We called three different owner financers in order to get him with the right one, you know, because have their different. Their different rates and what they require and that business. So we put them with the best fit for him and it'll work for the time period that he needs it to before he can like, you know, refinance and get a better rate.

There you go. Perfect. Julie, what's the best way for our listeners to connect with you, to reach out to you? They need some help there in the Dallas market, work with you?

Well, they can reach out at Facebook. I have Textile Real estate Real Estate divas or Jaylee Thompson, Broker, Textile Real Estate.com is my website. Any of those, message me any questions that you might have. And then also the real estate divas, even though we haven't been near as consistent as you, we got to get back on recording on a regular basis.

But you guys get done some good things. I mean, the walkthroughs with you, Kristen and Brittany Washington as well. Those are great. The coast did you guys do?

Oh, yeah, yeah. The Port Aransas. Going down the Aransas.

Yeah, Yeah. I grew up down the neck of the woods. That was great.

I would get out really well.

I grew up in Corpus Christi for.

The most part in Ingleside, so I didn't realize that. Yeah, I had family down in San Antonio and so whenever I went and lived with my dad for a while, we were always down in Port A. Like that was. That was where you went to, you know, sneak away and things you want us to do.

Sharkey, Bloody Mary mix or hanging out.

Yeah.

Having a good time down there. Exactly. Well, hey, Julie, thank you so much for coming on the note closure show. We appreciate it out there. Keep doing it. I'm sure we'll probably have to bring you back on as we get through things as Dallas figures out what's going on there and everything like that. But like I said, the best way to reach out Texcel is T X C E L, not S E L, L. Correct?

Yeah, that's correct. So it's like Texas and Excel. So it's a word mash.

Texcel, Excel with a T on front. That's easy. There you go. There we go, everybody. Well, we appreciate all you do. Keep up the great work. Good catching up with you, and hopefully we'll see you sometime soon here. All right, Julie?

Absolutely. See you soon, Scott.

Thanks. All right, guys, that's going to wrap it up for this episode of the nutculture show. If you like Big D, like Dallas in the neck of the Woods. Hey, you've got a great professional here who knows the market. She does an amazing job, and she's got a proven track record and a history. She's been through ups and downs of the market. Not like many people, as we all know. There's been a lot of people, hey, I'm a realtor in the good times, and we don't expect that to last, whether we stick around. But stick with somebody that knows the market has been through ups and downs, is also an investor as well. That's a huge, huge thing to add as a trusted asset to your team of professionals. And if Dallas is the market for you, talk with your Lee. So go out, take some action. Everybody be safe out there, and we'll see you all at the top. Bye.