How Do You Create a 21% ROI Note Portfolio?

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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 panties 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 Nodes, Scott Carson.

Hey everybody, Scott Carson here. Just want to say thank you again for listening to the podcast. If you've been listening for a while, you're subscribed to the podcast. First of all, thank you. Second of all, hey, you know, if you're you're not one of our coaching students or you haven't signed up for one of our three day workshops, here's an opportunity for you. You want to check out our WCN membership. This is the biggest bang for the buck of the notice street. Besides our one on one coaching, this is our monthly membership for 97amonth that gives you access to all of our online training, our virtual workshops, our note weekends, our special one day master classes that we've taught in the past, anything that we have going in the future, as long as you're a live member, if I can't make you or save you $97 a month, I'm doing something wrong. But save you paying 997 or 99 bucks or 399 here or anything like that. We make it affordable at $97 a month and like I said, it gives you access to all of our past replays, our upcoming classes, our access to our special classes. We also do weekly coaching calls with our WC members and also our WC members also get first crack at tapes and lists of notes that we get in after our one on one coach to take a look at them. But it's a great way for you to go. You can also schedule call with me anytime to go through deals that you're working on marketing things, questions you got going on about a deal. We're here to help you. So how do you get signed up for that? Really easy. Just go to noteumbrella.com that's noteumbrella.com get signed up there for you 97amonth guys. Like I said, biggest bang for the buck of the nursery and we want seeds of the family. So let's get you signed up today. That's knownumbrella.com welcome to the no family everybody and thank you for always for listening. All right. Hey, good morning, good afternoon and good evening everybody. Welcome to this episode of the Note Closure Show. Hope you're doing well, on the special Money Monday edition, hopefully you had a great weekend. Things are rock and rolling this episode. I want to talk about how one of our students, one of our coaching, one of our coaching students definitely went out there and it's kicking butt and taking names and they are just absolutely doing wonderful job this couple. I'm not going to name their names. They're probably going to watch this which is, I'm just have to say I'm so, so proud of them. What they've done in the last six months, really actually eight months if you think about it. But literally these two folks have bought some notes and they've created a an ROI portfolio of performing notes they bought. Their whole focus is performing to build some cash flow and they had some capital their own that they did this with, which is great. But they've also used what they've learned and have also started raising some private capital, do some great stuff with it. And so I do want to go today kind of breaking down what they have done as investors. And so if you're listening to this, hey, thanks for listening. If you're watching this, make sure you type in in comments and I'll gladly try to answer the comments as best I can for you. So what you see on the screen here, it's a map of where they've bought some stuff. If you're listening to us, I'll break it down a little bit. They bought, you know, in St. Louis in a couple in Indiana, a couple in Michigan, one in Pennsylvania, one in South Carolina, one in Alabama, one in Mississippi, one in Tennessee, one in Kansas. All right. A couple in Illinois actually as well as I believe. So they've bought it along the Midwest like we always say, you know, most of you know they have bought a total. Let me share my screen here so you can actually see the portfolio, the spreadsheet that they sent me. So they bought it just to give you a bit of an idea. It's all over the place. And you know, they bought from a couple different sellers but Alabama, Indiana, Missouri, Illinois, South Carolina, Michigan, Kansas, Missouri, Indiana, Missouri again, Ohio, Ohio, Indiana, Mississippi, Ohio, Ohio, Michigan and Indiana. So it's, it's in a few states. Okay. Now they bought these starting back in September. They came to our three day workshop. They went through the one, have gone through the one on one coaching where we're kind of getting them wrapped up with that. But they've already bought these 18 notes. Now these are just a performance. I think they have a couple non performing ones as well that aren't on the spreadsheet, but they've bought roughly 20 notes in eight months. They bought five in their first 30 days, which is great. Okay. And this started back in September 27th. They bought their first couple. 1, 2, 3, 4. They bought their first notes and they bought them from a couple different websites. They we also work directly with a couple sellers. We leveraged some of the listing websites to find sells directly and they got a bigger tape sent to them versus just dealing with the onesie or two z that they had on these listing websites. Okay. And all in all, let's go through the numbers on here. I'm gonna blow this up a little bit. So they bought these. These were all basically head payments. These were all performing or a couple of semi performing, but they've gotten the bars back on track and they bought these at an average. Just so you know, these are not huge balances. Okay. Anywhere from like 13,000 all the way up to nine. Oh, actually 6,000 was a small one they bought anyway. They bought for the heck of it all the way up to 93,000. Okay. And you know, if you figure out that the meaning of this here, let's just look at these real fast. The average note on this was basically just under 28, 000. Small balance stuff. Just under 28 in total. The UPB on these, this is not legal balance because most of these are performing is just over 500, 000. So they basically bought a half a million dollar portfolio. And they bought it for roughly 67 cents on the$335,000 performing notes. And under 70% now they paid a little bit more and they also paid a little bit less for some of these. So like the lowest they pay was 55 of UPB I think here. Yeah. Is that the lowest one? Highest was 83. And the lowest was right at. Yeah, 50, 55%. Okay. So they're falling in line with these lower balances, getting a little bit stuff. They use their own money, which is great. They're not having to pay off any other money. And if you figure out the cash flow, this is one of the important things we looked at cash flow. They're using their own money. The lowest PNI payment on this one is what, 274, I think. Yeah, 2, 261 is the lowest payment. The highest payment is that 545, 85. Okay. So between all these, these 18, 19 notes that they. Yeah, these 18 notes that they have on this, not the two perform, not performing, it's generating seven grand a month, 7100amonth in cash flow coming in. Okay. That's a total cash flow of coming in of 85, 649. That's before expenses. Okay. Now we all know you have less expensive with a performing note than you do with a non performing note. But what we did is we still throw some numbers in here. So you have a bit of an idea expense wise how to kind of structure this thing. So what I did is I went over, I said okay, and they were working through polar expenses. But like Scott, I think, I think the only thing we have is like title review or title expenses on these. We didn't pay for like owners on some of these because we were comfortable. The online value and what they look like, they all. Most of my current photos when you're buying a performing note where there's a ton of equity and all these have a ton of equity above these. All right. I don't even think we've got the Zillow values on these things now. We don't have the Zillow, but they're all well below. I mean all the value is way above what's owed. I don't think they're at 50 cents on the dollar on any. I think it's all like 33 cents on the dollar of value. So we still figure. Okay, let's say you put $500. If you figure due diligence costs $500, that's for like a BPO and one E and a little marketing time doing maybe collateral view because it's going to cost you probably 150 bucks for collateral view. Let's just say 200 bucks for a BPO, which is not the case. Okay, but we'll say $500 for due diligence costs. We can figure time paying a VA and stuff like that to help. And then the servicing costs. Now these are all performing. Okay. There's not legal costs associated with. So we said, okay, $25 a month times 12, you're going to pay for servicing roughly $300 a year on each one of these. Okay. So if you add these all up, it's $5,400 in servicing costs and roughly nine grand in due diligence costs. That's 14,400. Deduct that from the 85,000. Okay. Gross wise, they paid 335,877. They basically paid these at 67 cents on the dollar of the UPB. Okay, 335, is that right? Yeah, paid 335 for it. And so if it was just off that, the gross 85,000 divided by the 335, that's a 31.88% return on investment. That's pretty good ROI. Can I get an amen on that? That's a heck of a return. Right. But if we figure in due diligence costs, and of course, they didn't pay all this stuff, but if you figure, okay, normal due diligence costs, I'm paying for a bpo, I'm paying for a title report, and probably gonna pay for a collateral review. A little bit of time, my time for a VA to do some due diligence, stuff like that. Okay. They're still netting a 21% cash on cash return, if you figure that. 21.2, to be precise. Okay. Isn't that awesome? I'm so proud of them. Now if they. Here's the thing. They use their own capital on this. And I'm like, okay, that's great, because they had it. They set aside that, hey, we're going to get into this. We're gonna put some money aside and dive into us. And what they do, they got excited like, oh, we're buying a performing. Oh, it's gonna be a pretty decent yield on these. Now what they're wanting to do is they're looking like, hey, we want to refinance some more money out of it. So we have that back in our coffers for rainy day. And so I said, okay, you could do a variety of different things if we go over here. So they bought these at on average of $0.67 on the dollar. Okay. They could go over here and say, okay, let's see if we start pulling money out. So they went to 80% of the purchase price. So they kept themselves in the deal. They kept themselves in deal. 80 of purchase price. They would basically get $268,000 pulled out of that. Okay, 268. If we figure, you know, all right, let's figure this. They would pay times. If they gave. If they gave somebody an 8% return equals 268 times 0.08. That comes at 21,000 a year in interest. Well, if they've got 85,000 coming in year in, year out, that's still a pretty damn good return to them. Right? That's still. Or 71, that's still 50 grand in their pocket. All right, they get 268,000 back and they still, they're paying their investor off 21 5. And they got 715 the first year after expenses, that's still a $50,000. Basically, you know, 49, seven hundred and fifty, roughly. Okay. That they're basically getting back. Is that a bad day? No, it's not a bad day. That's a phenomenal day. Okay, I make sure. Yep. Everyone can ask questions in the chat roll, stuff like that. So that's the thing I want you to take a look at. I mean, like at 8%, that's a pretty good. You can find people that have eight that aren't getting 8% in their IRA right now. Okay. Now, if they borrow just 200 grand back and paid 16,000 for a year, 8% interest per year, they're still going to net a sizable, you know, was that $55,000. And they still keep some skin in the game. They still have roughly 135,000 skin of their own game in this because they, you know, they put 335 their own money in. If they pull 80% out of what they paid, they still would have 32. So basically 65 grand, but they still got a tremendous amount of return. Now, isn't that just. I like to throw that up there for questions. That's 80% of purchase price. If they go 80 of the UPB, they could actually refinance out, pull out 402 and still stay involved because they still have 20% of the UPB if they wanted to. So they could literally. They paid 335. They bought these at 67 cents on the dollar. If they pull, if they borrow 8, 80% of the UPB, that's 402. All right, now 402. Let's figure that out real fast. 402,000 is equal to that times 0.08. So if they have. They pulled $400,000, they basically, hey, somebody come in and fund 80% of the UPB, that's gonna put 400 grand in their pocket. Okay, 402, they're paying out 32,001. 70 on that money while they're netting, remember, 71 right after expenses the first year. So they're still going to bring in $29,000 on that in cash flow. And they just put 65, $66,000 in their pocket. Actually less than that if you take that to 14. Yeah. So they're making 50, you know, put 50, you know, exactly. Put an additional 55, 000 above and beyond. That's where you're making money on this. Now the, the thing they have to be watch out for this, obviously, is that the P. I. Payments and the balance gets paid down pretty fast. So I wouldn't go at 80%. I would probably do more at the 70 cent percent wise. But I'm not them. Whatever they're doing with their money, that's totally fine. It's up to them. But even at 70% of the balance, that's 351, you figure you're gonna pay 0.08. Yeah. So they could get most actually they could get a little bit. They actually could pay, get their money back at 351. That's yeah. 335 plus the 14. That's 350. So they basically get back all their investment plus their funds. They're paying out $28,000 a year in interest only payments and they're still netting 28,000 minus 71. Minus 28. So what is that? $38,000. Almost three grand a month in positives. Question on this. You always got to be careful though is seen when that upb, that unpaid principal balance number gets down. When you look at the amortization schedule for each one, when does it start to get close where it's paying off and you're running into what you're borrowing from the investors. Now some of these I wouldn't touch are just too, too skinny. But some of the, the bigger difference ones, yeah, the ones at 70% you've got some time. You're going to have at least three years to either a. And how do you do that? You basically can pay your investor back by giving them the note, then let him run with it. They like the cash flow, turn the cash flow over to them, refinance them out by selling out off to another investor. There's a whole variety of different ways to skin a cat on that, but that's a great. For them, it's a pretty phenomenal return on investment. Taking some money going and buying performing notes. Semi performing or stuff. That's performing. And the question always is, how do you find notes at 70% or less? Right. Most everybody's trying to buy or sell at 80%. It just takes work, it takes marketing. It takes not just relying what's on a crappy website. All right. And somebody just regurgitated, oh, I want to get 80% of PB. That's great. But this is a lower balance. Stuff or no, I'll offer you 70. It's also finding the motivated sellers. We're looking to sell stuff off their portfolio or need to close their portfolio down. Right. So that's the thing I wanted to share. I mean you can Go out if you're looking for 20. Great. Go do it yourself. Doesn't mean you're gonna get. I want to make 20 on the money I lend. No, no, my students, they deserve every bit of this because they work their butt. They made offers. They made a lot of offers. We worked on this, you know, and if you look back, they bought these from. If I go back and look at this, from September through January. So the matter of five months, they bought these September 27th to January 26th. Yeah. So October, November, December, January. So in four months, actually, four months, they bought these. Now that's a pretty good return to help them get to the point where they're looking to eventually retire you. The reason I put this up here is you all can do the same thing, ladies and gentlemen. You know, three grand a month in cash flow is really good. Five grand a month in cash was really good. It's great if you've got your own funds, but if you don't have your own funds, then put the same thing to work. Go out and borrow some money. Get it a decent. Give them, your investors, a decent return. 8% for not to do anything to get cash flow back on a quarterly basis and go arbitrage. Put yourself in the middle of these deals. Go find the good deals. Don't try to wholesale them. I know that's what everybody wants to do. I just want to flip it. Okay. Okay. Could they have flipped it? Yeah, let's. Let's go back here to the tape and take a look at the flip. They could have flipped these if they wanted to. They could turn around if they look at 80 of the PER. 80% of UPB is 12. So in this one, if they wanted to buy and flip it, they could have maybe flipped this at 80%. So they got it at. So we're talking 335. So they could. If they bought these 20 notes at 335, going to contract at 335, they could have flipped it for four or two. That's 65. 60. Yeah, $65,000. Roughly. $66,000 in wholesale fees. Okay, that's okay. That's not a bad day. But guess what? That 66,000 is all they get paid on. Whereas if they stayed into the deal, guess what? They're making more money. 71 grand a year. That's where the mind shift has got to change. They get to get. Feed them once. It's great. They get that up front. And. And I get it. Sometimes it makes more sense for me to get 50 grand up front versus 50 grand over here. I totally understand that. And they could flip that and, and make a little bit of profit. But wouldn't it make more sense that something's going to cash flow for you on a monthly basis? It's still paying the investor 8% and staking in doing a phenomenal job of just servicing and findings with a servicing company paying $25 a month. And this 14 grand here, you can put this as a cost. You know, they probably spent half of that realistically. You know, so that's, that's really 4,500 bucks or less on the actual determining the value of the market. 5,400. That's going to be pretty much a fixed cost because it's servicing on these notes. But it's a good day. It's a good day to be alive. It's a good day to be a note investor. But people always ask me, how do we find these deals? How we find. We find it because we look, we do the marketing like we've always talked about in drip marketing campaigns. We identify sellers and reach out to sellers directly. Okay. If they're on some website and they got one, they. If they got one, they probably have more than one. Okay. And then it's just making connections. One of the tapes came from one of my past coaching students from like five years ago who's bought 300, 400 notes, is trying to close out a portfolio. And those relationships are coming in handy. All right. Yeah. These students, they pay for my coaching, and I helped introduce them to that, that seller and help them do the deal. That's what we're here for. Questions, Comments, Concerns? I don't mean this to scare you guys, but do you guys understand where the power of this comes in? It doesn't have to be a million dollar portfolio. It doesn't be a $5 million portfolio. It could be onesie twosie notes. And that's the whole point. If you figure they bought these in four months, that's. That's basically one a week on average. They sped it up. Okay, if you go and watch the Don't Give up on Retirement podcast episode where we broke down the numbers, these folks fall into that. I don't say, baby, they're the same age as I am. Generate Generation X so they don't have to do that. But they, they work hard. They want to put their money to work and make it in their. Their money's making a phenomenal return for them. 20%. If they refinance back out and pull their own money out, then it's even doing better. Infinite rate of return, because they're not using their own money at that point. And of course, we only have technically four months. We haven't annualized this where one was bought in September and the other was just bought in January. We get that. But basically, that's how an annualized 21%, the first year is going to be little cookie cutter, because you have something only paying for a month or two and stuff like that. I get it. But the point I'm trying to make here, ladies and gentlemen, is these deals exist if you know where to look, know what to say, know what not to say, and how to negotiate, okay? And I'm very proud of what these folks have done. I'm so proud of them. And, you know, they're coachable. We met weekly. You know, sometimes it was a. A zoom call, and sometimes it was a quick phone call. And we looked at the numbers. That. This makes sense. I need you to fade it down or reduce this or kill a bunch. I don't know how many offers till they made probably, I don't know, probably 100 more, 200 more of those on those offers to find that 18. But that 18 is so worth it. You know what I mean, ladies and gentlemen? Making offers to see what's accepted. And you just got to make enough. You can't wait for all your ducks to be in a perfect row. Otherwise, they're waiting for the money. You're not gonna do it. And so they have the money, which is great. But they could very easily. Before they bought the last chunk in January, they were already talking with investors, already talking about what they're doing. They were using the case studies that we provide that you, if you've been through our workshop, you get access to, talking about, hey, here's what we're doing. And use. They have their pitch deck, and they've got their website and other things to help them raise capital and really knock it out of the park. Question here for you. All right, so Anna asked a question here. This is awesome. Can you explain when you make an offer based off of UPB versus legal balance? I've heard there are times a judge will not require legally paid. Okay. So it all depends on the length of the legal balance. So the legal balance is going to be your upb, your unpaid balance, plus all the late payments. Okay. And depending how far behind that borrower is, you've heard it. It's something called the statute of limitations. And every state's a little bit different. On statute of limitations for mortgage debt, sometimes it's four years, sometimes it's 10 years. It just varies on the state. So that's what you have to look like. Look like. So like I'll give you an example. So these were all basically performing, all right. The legal balance upb were very, very right at similar. Okay, you're going to see more of a bigger legal balance and a non performing note. Okay. Now when you look at legal balance, that's usually going to be higher than a upb. And then you got to look at value of the property. What's the actual value of the property unit? So when the property is valued at 100, but the legal balance is 150, what are you going to bid? Well, you're not going to bid off the legal balance. You're going to bid probably 65, 70% depending on where it's at off the value because that's 100. So that would be, you make an offer, it's more around 60 to 70. Right? But let's flip it around. Let's say no, the legal balance is only 100 and the value is 150. Okay? Difference there. Think about this. It's different. Well, you're not gonna bid, okay, you're not gonna bid a hundred on this one. Okay? That's 67% of the value gotta go off the legal balance there. You know, you're probably gonna have to bid 80 cents on the dollar of the legal balance at that point. So that would be 80,000 on that one because the legal balance is 100 on that one. When the values of 50, there's equity there. So does that make sense? You got to understand the difference ubbs, right? Legal and then also where does the value roll into it? If there's equity, I'd say 25, 50 grand above the legal balance, then 80% of the legal balance is kind of where they want you to be at. Obviously you're able to work with them to get below that because they were lower balances. All right, if there is, you know, if there's negative equity, then you're not bidding off the legal balance. Then you're going to be bidding off the value of the property or the as is condition. And going back to what you have to look at if I'll give you an example. Let's say like Florida, I think it's like a ten year or eight year statute of limitation. Okay. Let's just say it's four years. Well, let's say it's been eight years or ten Years. Let's just say it's been ten years since the bar made a payment. So ten years and they owe this huge legal balance. Okay, well, if there's 10 years paid, but the state's legal statute of limitations, only four years, you have to, only, you can only go after the most recent four years. You can't go after the oldest six. So you're saying goodbye to six years or whatever that balance is off the legal balance. And that's what you need to know when you're making an offer. And that's why, when was the last payment? When was the last collection? Because if the bars made payments, they made a payment here or there and the bar collected, that restarts the statute of limitations. Okay, you know, we had a borrower, an investor of ours, a student of ours, who was going to buy a mortgage note and the borrower wanted to make a payment to reset the statute of limitations. I said don't accept the one payment. Make them come to the table with four or five months because they just make one payment, that's going to restart the statute of limitations, that they can drag this out on their hand and not have to pay for another 90 days to restart the foreclosure process. Okay, does that make sense, Anna? You know, and you'll see some of these estimated legal balance. Okay, well when was the last payment made? Oh, not, you know, more than five years ago. Well then I'm only going to go after the most recent four years, basically. Okay, and then, then you've got to figure, okay, so instead of 10 years times 10 years times 12 months is 120 payments. 120 payments times their P and I payment is roughly what you figure out how to figure the legal balance. Added that to the upb, give or take a little bit. But yeah, it's the same thing. If it's this huge amount in 10 years. This is why I always like, ah, I don't like those 10 years aspects of things, especially if it's occupied because then the bar is going to fight you on it if it's vacant, okay, It's a different store. Vacant bars moved away. They're probably not going to fight the foreclosure then go after the whole thing. But it's just, you got to take it, take it a little bit more in stride and take a look at what's going on. Does that make sense for you, Anna? Try to be as clear as mud on that. So once again, let's recap it. Look at the upb, then look at the, the Legal balance, what's the difference? Okay. And then compare that number to the value of the property. As is not after repair value. After repair value doesn't exist in notes. Look at the as is value. So if there is this huge legal balance above the value of the property where there's negative equity, you're gonna be bidding off the value of the property. If there is equity values way above the legal balance, then they're gonna, sellers are probably gonna want you coming around 70 to 80% of the legal balance, knowing that if you do foreclose, you're gonna get paid in full the foreclosure auction. And that's why you gotta be tricky on this. You just can't run ROI numbers. You gotta go back and say, okay, if I do foreclose on this, but they haven't paid, I gotta make sure I'm gonna be at like 10 to 15 thousand dollar difference at least on a minimum if I foreclose it for my foreclosure costs. Okay. And as great. Would getting licensed to Georgia be a good use of time? It looks like there are good deals and lots of notes there since there is a barrier to entry. Since you need a license starting off. No, it's not worth your time, Anna. You have to go get a mortgage broker's license in Georgia. What it makes sense to do is just go get, get you a self directed ira. Just there's plenty of other states to make offers on. Okay. Going and getting a license to paying to go become a mortgage broker in Georgia so you can buy in. There is not an effective use of time starting out at all. Okay. Plus since it's a lower low fast, it's a faster foreclosure state. It's not a discount for the most part. You can still buy notes in Georgia by using your self directed IRA and making that the purchasing entity and borrowing money from somebody else's stuff. Or just, just partner up with a investor who already has their license in Georgia and give them 10 of the profits. That's what I would do. But no, waiting to stay to get a license and going through that process in Georgia is not worth his time. No, there's plenty of other states to buy in. Quit worrying about getting every duck in a row. Go make some offers. Make some offers. Send the damn email, make some offers and get the ball rolling. Okay. Any questions from anybody else out there? And see we got you online. Mark, do you have any questions? Don, any questions? Just trying to help you guys get rocking and rolling. Second here. I really get excited for my students, I was so excited when they, these coaching students went out and are buying. When they sent me this spreadsheet, I knew their portfolio was doing well because we've actually, you know, spent the time and looked at it and helped to make offers on it and helped them adjust it and fade it a little bit, reduce it. So I knew it was going to be a great return to them and just, just very proud of the. I always love it when people take action and like I said, they got a lot of hand holding being a one on one coaching student. And that's what we're here to help out with. But you guys, anybody out there can go raise a million dollars in private capital in the next 90 days. You can go out and find deals if you will just market like I tell you to market. If you're going to be in Florida and you're looking for an IRA company, just go to New View New Views out of Lake Mary, Florida. They're formerly interest New View ira, Lake Mary, Florida. They're just, I mean they're about the same. Okay, new view IRAs who I'd probably recommend down for. We've spoken at their event before and it's nice to have something close to you if you can. I mean obviously you're in Ohio and you got an equity trust account or you go to an event and a company's there, it's going to waive their fees. Great. They're all about the same. It's not that big deal. I think, Anna, you're in Jacksonville and I think they host an event in Jacksonville once a year. It might be Orlando, but you're just a couple hours away from their main offices and they've got a good team over there. Awesome. Great. All my senses. Any other questions, comments, returns? Guys, we talked, you know, this last Monday night we went through that tape of 349 notes. I'm surprised I didn't get more questions for people about making offers on it. You know, that's what we're here for. There's times if you wanted to, you can still probably make some offers on those if you wanted to. And it's better to get the ball rolling and start making offers now instead of waiting around. I know that one of our other coaching students is making, I don't know, about a dozen offers on at least eight or more on some of those after this weekend and stuff like that. So there's opportunities. I know that the seller was still accepting offers even after the GOT timeline. I'm like, he probably he or she probably did not get a lot of offers in because they just don't make it very clear. So anyway, we're here to help. As always, feel free to reach out. Book a call with me at talkwithscottcarson.com TalkwithScottCarson.com Ladies and gentlemen, I want to thank you for listening. Big kudos to my coaching students. Once again. A if you're looking to make somewhere between a 20 and 30 ROI, you can follow the same game plan, the same path that we help them do it. And all you got to do is be coachable and get signed up for our one on one coach and we'll be glad to help you out. They've made, they have made their investment back over tenfold. We know that they will 400 more, you figure that roughly than what they paid for one on one coaching. So we're here to help you. That's our biggest goal is to help you find deals, buy deals, start putting them cash flow in your hands and you know, help you, you know, help you get to the top. So go out, take some action buddy and we'll see you up there. Everybody have a great day. By.