#150 - From 30k to 14 Million in 10 years w/ Harry Buchelly

You are listening to the Independent Dealer podcast with hosts Luke Godwin and Jeff Watson. Thank you so much for tuning in. Let's do this. I'm Henry Bukele. I live in Austin, Texas. We have a car dealership called Discovery Auto Sales. We opened in 2010. February 2010. We do. 90% of our sales are buy here, pay here. We still do a little bit of retail with finance, outside finance companies having fun, enjoying the ride, but like you said, a lot of difficult parts during those last 10 years.

Yeah. So let's start now, and then we'll work our way backwards. Harry, when you say you're 90% buy here, pay here. What's the makeup of your dealership? How many sales you guys are, One location. I know you just built a store. It's beautiful. How many sales do you do and what's the makeup of your employees? Just maybe give us an overview of your dealership so we kind of have a grasp on where you are now. And then we'll rewind and talk about how you got there.

Sure. Yeah. We have only one location. I used to have two, three small locations. That's a bad idea for me, at least. Now we only have one big location. We sell something between 120 to 130 vehicles per month. We sell, like I said, 90% of our sales are by year pay here. We have a related finance company. It's called Suse Financial. And yes, we finance those vehicles. We still do. I would say something between 10, 15 sales with finance companies like Westlake, Lobel Financial, Credit Acceptance. Those are a little bit more expensive vehicles that we prefer to go with those guys instead of keeping in house. Our goal is by April next year, we should be doing 100% buy here, pay here. Yes. We just to give you an idea of how we handle things here, we are like 34 people total between the finance company, the shop, the reinsurance company, all the people involved in the company. We have five sales people. We have a general manager, a sales manager. We have an F and I department with two guys running it. We have service advisors, a couple of service advisors. We have a mechanic shop with 10 mechanics. We have 10 bays. So, yeah, we have a paint booth in the back. So we have two painters. So we try to keep it in house so we can control the expenses. It's a little bit more complicated. It's a little bit more work, but you make a little bit more money, and that's the main thing here, man. Saving the pennies. You can, you know, taking care of the. Taking Care of the pennies, you can save the dollar.

So you're right, Harry. That's. I think, especially a dealership your size definitely has to have everything internal. We really appreciate you being here and for everybody. Harry just got into our 20 group and so I just met Harry, I guess, a couple months ago, and it's good to see you again, Harry. Let's go all the way back to the beginning. Where are you from, Harry?

I'm from Colombia.

And that's not Columbia, South Carolina, because I'm in Columbia, South Carolina, right now.

Colombia, Capital C. Let me.

Let me tell you. My grandfather was from Italy, my mom and father from Colombia. I've been. I moved to the states 14 years ago, 13 years ago. And yes, I love this country. I'm a citizen now. And when we have a soccer game between Colombia or Italy or the States, I usually don't watch the game. I don't want to take part. But yeah, yeah, that's. That's my background. I went to college. I went to college. I went. I had a international relations degree and I was making some, you know, have some experience in that part in Colombia.

So when you came to the U.S. what was your wow. What I mean, did you say, I want to be a buy here, pay here dealer? So I decided to come to the.

U.S. no, that's for sure. Wasn't the idea. It's a long story. Maybe for another podcast, but I had to. That was kind of like a live or die situation. So I have to come. And when I was. It's funny because when you come, you don't have a sure idea what you're going to do. Right. You know that you have to start all over again. But you're not completely sure. I was waiting for all my paperwork to get done, and one day, one of my friends, he advised me to sell vehicles. Say, Harry, you're a good salesperson. I know you're trying to get into your, you know, college degree, career, but if you sell vehicles, I'm pretty sure you're gonna make more money. And I gave it a try. And I went to a place I Last three weeks. I wanted to. Everything right. I wanted to go crazy. I want to do it. And the owner said, no, you know what? That's fine. We. We work it on a slowest, slow pace here. We don't need to go that fast. Third week, I left and I went to another car dealership and they were in the same idea. They were like, we want to grow. We want to get this. I stayed with Them for a year, learned a lot. And after that I decided save some money and I decided to open my dealership with a business partner that I have.

You know, Harry, it's interesting that, and I don't know why this is, but it seems like so many immigrants end up in the car business. Is it, what's the, what's enticement? Why, why does that seem to be a line of work that, that so many want to do? Or is it the ease of getting into it?

Well, you know, I don't know. I can give you the political answer. I can give you my real answer. My real answer is because easy money to be made with the least time that you can spend in a profession. You know what I mean? Like, you go, you see, then you get, you're in Texas, people need vehicles, right? So you will find tons of people that just go and think selling cars is easy. Sitting, waiting. And that's the reason you get so many immigrants in this profession. Now the good ones, they want to succeed. Those are different. They were hard. They, they see us like their own company and they, they work in a different way. That's, that's, that's the way I did it. So you can find many people, but if you look for the successful people, you're gonna find American guys about African American, white immigrants. The good ones, doesn't matter where they coming from. They want to work hard.

Yeah. And I don't think it's. When you say easy money. I mean, Harry, go back to those days when you began. I mean, it wasn't easy, right? Like you were, you were, you and your partner, you were there seven days a week, coming in all the time, putting deals together, from what I remember.

Yeah, yeah. No, you know, I said easy money because that's what people think outside of the industry, right?

Yeah.

They figure out you're going to go there and they're going to pay me 20, 25% of the gross and they're going to make 4 or $500 in every car that I sell. And reality is completely different. But that's what you think outside of the industry. Jeff, you are right. We, the first location that we rented, we pay something around like a thousand dollars a month. We didn't have even a bathroom. No bathroom at all? No toilets. We have to make an agreement with the pizza place next to us. So we will buy two or three times a week the lunch from those guys and they allow our customers and us to use their bathroom. So, yes, it was different though. But you know what? I opened in 2010. I was at different moment. We used to sell only cash. You know, the first time that we went to an auction, we bought like nine vehicles with $15,000. So it was a different era, right?

Yeah. But you would say, like, I mean, you fronted your own money and you hustled. So just so I want to paint this picture for Everybody. This was 2010. You started with a couple thousand dollars in your account, selling stuff out of a double wide trailer with nothing and no bathroom. And the story of how you got there is interesting to be. Love to see the details. But Today you sell 110 cars a month and your portfolio is what, seven or something?

No, we're around 30 million. We have 1400 accounts.

13, you said 1 3.

1400 accounts. 14 and how many?

13 million.

13 million. 13. 1 3. 13 million 1400 accounts. That blows my mind. And debt. A little bit of debt, I think. And on the building, maybe.

Yeah, it was a building, really, in reality.

So I started in 2010 with my dealership, had my finance company before then. I've been in business about the same amount of time, maybe a couple years longer. If you talk about the finance company getting a head start, I am a fraction of where Harry is, a absolute fraction. So that's why I've always looked at Harry as, like, inspirational. Because what I think you do well, and what I think a lot of dealers can learn from is you never. I mean, you joined a 20 group when you and I met maybe five years ago, but you always. You were always looking outside the box. You never said, well, this is the way it's always been done. So this is the way we need to do it. You didn't come from the new car store or the used car store. You weren't taught bad habits by your uncle or your dad. You always looked at it like, well, no, of course we're going to do that. Of course I'm going to do buy here, pay here in retail. Of course I'm going to sell this car for a minimum. Of course I'm going to send stuff to cac. Of course I'm going to take these risks. And I think that's what's so inspirational about your story is, I mean, you.

Did it, I didn't.

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Alright guys, back to the podcast.

Isn't that the immigrant mindset that, I mean, just do it right? I mean go big or go home or. I mean, that's what I seem to. I mean, maybe I got. Do I have the wrong opinion on that, Harry?

No, no, no, you're right. I think it's not about immigrants. I think everybody, I think you are the same and Jeff is the same. And many people that watch this podcast, they think in the same way they want to make it. But sometimes we're afraid. We don't jump. We just go step by step. And sometimes we just take an advice and just follow that advice without thinking outside the box. And for me, like you said, I was, I want to make it. Doesn't matter why, how I going to try to do it. I'm going to make it. Jeff is right. Yeah. We started selling cash vehicles. We used to buy vehicles for 1500 bucks and sell them for 2000. My first main meeting with my business partner, we got into an agreement about that we can replace a vehicle. Yes, we can, but we can't replace a customer. So we didn't care if we're making only 300 bucks or 1000 bucks. If it was a sale and it was a new customer, we said, you know, just go ahead and sell it. That customer is going to bring another one. I just want to give you an idea. By the end of 2010, we opened our second new small location. That one had a bathroom and we were selling. I remember November 2010, we sold 75 vehicles, cash only. So we were selling because we sold vehicles in January, February or March and they were bringing More customers to. Yes, we got an amazing deal with us, right? They were like, ah, man, these guys are new in town. And they. I just bought this vehicle. And yes, many of my friends in the industry say, Harry, you are crazy, you're stupid, you are throwing away your money that's so difficult to get that vehicle. You know what? I did, Jeff, and I think Jeff knows the story. I used to go to five different cities, Monday, Tuesday, Wednesday, every day of the week to different auctions. And I understood that from the beginning that selling is easy. The most complicated part is buy the right vehicle. Let me give you an example. If you buy a nice vehicle and you have the right price, how difficult is going to be for you to sell it at all? Yeah, the complicated part is selling a 2004 Chevy Cobalt with 148,000 miles in a yellow color and a standard. That's a complicated one. If you sell that one, you're a good salesperson. Right? So if you go to the same auction like anybody else in your town, the only thing that you're doing is just digging a hole. It's gonna be difficult to get out of that hole. That's the reason I went to so many different auctions. Didn't matter if it was a Christmas Day, Christmas Eve, different auctions every day. Trying to get that vehicle to get the best deal to my customers. At the beginning, that was the main, the main motive for us.

And that's. I think. So let's just stop right there. Because Harry, you hit on something so important, is building a customer base. That's really hard for some people who jump into the business selling high end cars, let's say, because your customer base is limited to people with high profits. Right. But what Harry did, I think is really unique and makes a lot of sense. My dad did the same thing years ago, but sold cars that were affordable to masses. And what you do is you create this huge customer base. And as soon as you do that, it starts to feed each other. And later on, if you want to narrow it down, you can, but. But at first, that's just a great way to start and build a reputation without a lot of money in your marketing program. So, Harry, that's amazing that you, that you did that. How did you, how did you transfer? How did you decide that buy here, pay here is where you want to go? Because I know you said just a second ago, hey, I want to, I want to be 100% buy here, pay here. And you know that's. I love buy here, pay here. So it's great. But you hear so many people want to move the opposite way, but you're wanting to go all in. So why, what makes it so interesting to you, why you want to do that?

Well, that is a great question though. Look, I got an advice a long time ago that it is important to plan, but it's way more important to replan, right? So you can have an idea, put it together and start working on it. But you're gonna see after six, three months, whatever you want to call it, the dynamics are different. So you have to replant it. Usually the companies that fail is because they don't know how to replant. They're gonna die and they're gonna stay with the same idea. I give you this. We opened selling cash cars, 1000 1500. My most expensive vehicle was a Ford Focus for 2,800 bucks. With the time you start feeling the market and you say, you know what, there is a change, there is a different dynamic, the credit is coming back, so let's start buying some a little bit more expensive vehicles. And I started signing up with different finance companies. And after that, three, four years after, down the road, my slogan was everything under 10,000 and everything that we used to sell was under 10,000. Either cash or with finance companies, or the buy here, buy here part. But what I noticed with the time, and I live in Austin, we have so many people moving in every day, major companies moving in, and we have a lot of competitors, right? So now you can ask 3,000 down for a 69, $99 vehicle. That's important. You won't get it. So we move with the changes, we feel the dynamics. And now we sell vehicles for $20,000 and we also sell vehicles for 69.95. So you move around what you have in the market, what the market is showing you. That's a mistake that I usually see that when some fellow car dealerships, they say, I've been doing this for the last 15 years and they don't change it. And Jeff rephrased something at the beginning and it was true. I remember my first meeting at the 20 group meeting. Everybody was looking at me like, are you crazy? No, that's the way. I love your idea, I love your experience. I gonna take what I need, but I gonna pull it together in the way I feel is gonna be, it's gonna make me successful. And that's what I've been doing. I've been taking a lot of advices from different people on 20 groups and idea people. But I'VE been doing my own. When I. When I feel that I need to do something different that is interesting and.

It'S so relevant right now. You know, hopefully at the end of COVID that, that how you've evolved your business. And I think everybody has learned during this time that if you keep doing exactly what you've been doing for 20 years, it's not going to work and you get run over. I mean, look at the huge retail stores that have gone bankrupt this year. I think there's a lot to be taken from that.

Yeah. Harry, what else would you. What other advice would you give dealers? It sounds like you're saying, be flexible. Don't get stuck in one business model necessarily. I don't think you need to try to be everything to everyone all the time. But if you need to pivot from year to year, you know, have the ability to do that naturally, you've kind of gone up in ACV as you've been, you know, you've got a nicer, newer building, you're courting a nicer, newer customer. You're comfortable putting $15,000 on the road with a customer. But what other advice would you give dealers that are out there either starting up or that have been in business for a while?

Jeff, it's so complicated to give an advice because every. I remember I went to a conference and this guy was talking about 3% delinquency rate, right? And I was like, what? My delinquency rate is like 16, the best 15. And I'm throwing a party and he's 84%. I was like, I'm doing everything wrong. But when you go into the details, you see that's a different picture. He was in a small town in a specific area where he can go to Josh and get the money in a good way or in a bad way. He was selling to all the people that he knew, really. So giving an advice is difficult. And that's what everybody has to understand, is take it with a grain of salt. You can hear me now, and I can tell you how we did it. We switched, we changed during years, and I've been success, successful in that. But other people, other people, other people have been doing so. What everybody needs to understand is every market is different. You have to know your market. You know, you need to know your basis. And basing in that, or taking in consideration that is when you, you know what? This is what I can do. One of the main things that I said and I went against the current is I don't like debt I didn't use floor plan. My line of credit, it's around 4 million. I owe $220,000 to keep it open. Okay. When I was starting and I was using my own money, many guys, many friends, they were like, harry, are you crazy? Use somebody else's money. And I said, why gonna pay in 20% in a floor plan when I can make those 20% for me? So my advice is, I don't know. I can get a. I don't know, IRS or whoever want to call it, come back to my office today, and I'm fine. I don't know anything. I've been doing everything by the book, legally. And if for any reason my bank calls me today, I need you to pay me a 220. That's fine, because I have no debt. And with this pandemic, when we were having slow sales for the moment, I didn't freak out. I didn't have to pay. We carry around 200 vehicles here in inventory, right? Between the ones that we have in the back and the ones that we have up front, we own the inventory. There is no debt on that inventory. So when everything happened, I was like, okay, that's fine. Stop buying a little bit. Relax. We're gonna sell what we have. Nothing is loose. Keep it. Keep it cool. So my main advice for everybody is understand the market, understand their situation, get different opinions, and make your own decisions.

But that's funny.

Be careful with that. Fun.

I'm totally with you on debt. I hate debt, and I don't encourage people to go get it. And they're smart. Debt, too. So we can all get into that. But one thing Dave Keller told me years ago about our business. He said, luke, you can produce cash really quickly in our business. I said, well, how? I just feel like I'm always chasing cash. He said, you ever thought about quit buying cars for a month? And as soon as you get that realization, holy cow. Yeah, you know what? In the buy here, pay here business, you quit buying cars for a month, you may run out of inventory, but holy cow, you will generate some cash. So you've always got to have that in the back of your mind. If things slow down, then you can always do that. You can sell what you got and start over. So I really love those. Those keys there, Harry. That. That's awesome.

Speaking of starting over, and I think I know the answer to this, Harry, but we've asked this of all the dealers, hypothetically, if you woke up tomorrow and your dealership was gone, everything you built, would you start A dealership again or what?

A flower shop or something like that?

No, you wouldn't tell me why you think you're pivoting into being a finance company.

Right? Didn't you tell me that?

Is that something I can say?

Yeah, that's the goal. That's 20, 21. Goal, yes. I'm not planning to open another car dealership. I think the finance company is the way to go. I think there is a market that the current finance companies don't. Are afraid to take care of. They don't want to get into the market. I know it's been working for us, and I know there are a lot of dealerships right there that they will benefit of our ideas as a finance company. That's my goal. My advice to anybody that is thinking to get into this business is it's gonna be a rough, rough ride, but you're gonna make money. If you do the right thing, you're gonna make money and you're gonna meet a lot of nice, really nice people. And at the end, you kind of become a family with so many different guys from different states, different places. And that's. I think that's worth it. And don't get me wrong, if you make it happen, if you know how to make it happen, you're gonna make money. But this is not an easy business. And keep in mind this. My store is 120, 130 sales per month. But you need to go to that. I know plenty of people that they only sell 20, 30, or 40, and they are running a nice facility, making a really nice living, making enough money to enjoy life. Right? So don't always see the guy with more sales and think that guy is more successful than the other guy, because it's not true. At the end, we just look for happiness, though. So. But just, just think twice or three times, you really want to get into this business.

That's a. You know, you're so right, Harry, everybody. And I think it's the ego of the car dealer that we all want to sell 100 cars a month. We all want to say, I sell 100 cars a month, but you can be very successful not selling 100 cars a month. Was there a point where you said, you know what? I'm going to sell 100 cars a month. This is how I'm going to get there. Do you regret getting there or do you think it's a good spot for you?

Wow, that's a super good question. Yes. It was a moment that I regretted that idea. To give an idea my Motivation is to be number one every time, right? Yeah. So I was running the cross sell report and I saw this guy as someone that I really respect and I learned a lot. He was selling 140, 150. I can be the same guy, I can do more than that. I can go there. But during that process, many days I was like, I think I'm too crazy to accomplish that. But now we are in a point that I feel that it was worth it. It was worth it. The company is running kind of by itself. I'm still involved. 40% of my time is with the car dealership in the finance company. I was able to. Oh, that's the main thing. Build your team. Find the right team that will make it or break it for you. If you get the right people to become that team that supports your company, take care of those guys because they gonna run it so good for you that you can start enjoying life after 10 years.

Yeah, I think that'd be my argument. And to more sales is when you're selling 10 to 20amonth, it's you and your wife and your mechanic and you guys are there seven days a week to answer the phones and take care of stuff. Once you start selling 20 to 30 to 40 now you've got a general sales manager and a couple salesmen that are there on Saturday. So you can go to 20 group meetings and you can take vacations with your family. And the system still going once you get to 50 to 80 or 100 now you have two levels of sales managers and you've got a lot of bloated overhead. You almost have to push through from that 50 to 80 into the hundred plus. It almost seems like to like because you're adding, you're adding non producing personnel expenses. I don't know, that's my thought. But I do know that you know, if you guys don't follow Harry on Instagram, you should. He travels to places that I've only dreamed of and would never dare go. And Harry and his wife, they go and they travel and they do these things and he has that lifestyle freedom in his dealership because he's built it and like you said, put in good people that run his system when he's not there.

I agree but just keep in mind that I even today I come to work Monday through Saturday. So I am here all the time. For the last few months I've been taking a different but 10 years down going back I will Monday through Saturday from 9 to 7 8. So I was putting my soul in this company. So that's what I'm saying is nobody's gonna make it. Nobody's gonna take it to the point that you want to take it. They can just keep it and keep it in pilot mode. That's what I'm saying. You get the right people, they're gonna help you out to grow it. And after that, when you feel you're there, that's when you. Okay, go ahead, keep, keep going. But you have to be there. Man, this is such a complicated business. I was telling you this morning, every time that I come to my office, there are people already parked nine in the morning. I have like four or five, six different people buying pain or complaining. It's always something going on. If you go to the service area, man, this is like airport. There are parks coming every single day. We don't have parking spaces. These are three acre store and it's too small now. So it's always demanding something. That's what I'm saying. It's a non stop fun, this car dealership. But Jeff, remember though, every time, every time that you hire somebody, it's an investment. You don't hire anybody just to be sitting there. I don't do that. Everybody that is working in this company is producing me money. Even my wife.

She'S producing probably the most money.

Yeah, that's true. She's producing the money. The real money.

Yeah, she's the one collecting it, right?

Yes, yes.

Yeah, that's all good points. And what I see is, you know, where you say you're stepping into a finance, you know, you see yourself stepping into kind of being a finance company. And that's the natural evolution of growing such a large portfolio. It starts spinning off enough cash that you actually get to the point where if you don't want to grow past 100 cars a month, you have to find other ways to loan that money out because it eventually builds up so much that you've got to put it out there somehow. So buying notes from other car lots probably is just the natural progression of wanting to expand your finance company larger than your dealership's footprint.

We talked about this with Clint on last week's episode, Jeff. And the problem with what we do is buy here, pay here stores, is the inventory. It's getting inventory, getting ready. What you're experiencing right now, Jeff. And you know, selling, it's not really all that hard.

Right.

And that's a lot of our overhead. But it's, I mean, like that part is huge overhead. So if you could take what we do and not have to buy the inventory, not recon inventory, but have a dealer down the street do all that work. And then you discount the note and buy it and collect it. That's where the money is. It's not. It's not what we're doing. And I totally agree with you, Harry. And I believe that's where we're going to be going here very soon, too.

See, that blows my mind because that's where I started for the first five years of my career and got out of it because I felt like it wasn't profitable enough. You didn't control the quality of car, the quality of customer as much as you do when you are a buy here, pay here.

But I think you can. I think you got to be choosy, and I think there's opportunity to be real choosy. With the amount of dealers out there looking to get cars financed, I think bulk buying deals might. That's a little scary to me. But if you do it, if you pick them off one at a time, I think there's a lot more than what you're thinking, Jeff.

But Harry talks about a very unique financing model. Right, Harry? You're talking about a subsection of clientele and the population that is, I don't want to say unbankable, but not your traditional customer. You could send to CAC or Westlake or Lobel. They'd even look at it because there is no proof of income. They're 100% paid cash. You're verifying employment by checking their Facebook profile.

Exactly. Yeah.

Yeah. But you know what?

If you know Westlake history for a little bit and remember what I was telling you. I usually look at the big guy and say, you know what? I can. I can get there. I can be like that guy. So I'm a big fan of Westlake. I think the Hanky guy is an amazing, unbelievable smart guy and he's been doing almost everything right. But if you go to history and you see how they started, they started like that. They. They were able to finance those guys. I remember my rep used to tell me, is the guy dirty? And I said, yeah, okay, all right.

We'Ll do it dirty as it works, as it works. Not dirty as in dirty.

Coming from work. I used to take like a picture of a work band that he was coming, right? He parking a work band. I used to take the picture and send it to guys. Look, the guy working out this, he uses this workman. So those, those. That's the market that I'm trying to get to.

Yeah, that makes sense.

Yeah.

Anything else, Jeff? Well, I could talk to Harry for days.

Yeah. And we have Harry is. And to wrap this up as a testament to the dealer community and 20 groups, Harry is the kind of guy where we talk once a month, once every other month or so. And I always get off the phone with him extra motivated. So in between my 20 groups where I go and get motivated or convention or anything else, having a phone call with a dealer of the caliber of Harry just motivates me on all aspects from my dealership and my personal life and other investments. So that being said, find those people in the community that do that for you and stay in contact and build that community and talk to them and make the phone calls and have the communication and bounce ideas off them. Because I mean, I think a lot of what we've done in the growth we've seen over the last three or four years has been because I've bounced ideas off Harry, you know, and he's been like, yeah, yeah, yeah, you help.

Me out a lot, a lot as well. I have a lot of ideas as well.

You know, that's, that's something, you know, Jeff feels like he learns everything from Harry probably that you don't give anything back to Harry. Well, it works both ways so much and we, we all feel like that sometimes. I feel like, man, I'm always talking to this guy and I'm all, there's a couple guys in town that, that are my contemporaries in age, but they're in other businesses and I'm like, I have so much of them. I don't feel like I ever give, give them anything, but hopefully I do. But I think it's something to be learned that always talk to people because you're, gonna, both of you're gonna get something out of it some way or another.

I agree. One last thing, I know we're almost finishing one thing for the dealerships, I would say the mid size dealerships, the buy here, pay here, don't forget to do your reinsurance company. Do it. That product, the CPI product, the Gap cancellation or debt cancellation, whatever you want to call it, it's a money maker machine. So don't think about it, it's gonna work. You're gonna make good money out of it. So don't waste your time thinking about it. And one, two, three years down the road you're like, ah, do it, go ahead and do it.

Yeah. How long have you had yours, Harry?

Probably like five years.

And you funded it pretty healthy to the point where you're able to use it for opportunities.

Yes, exactly. We use that money to, as you know, for commercial properties.

Yeah, that's great.

Crazy. And it's money that at the time, I mean, it hits your bottom line as an expense and it might hurt your cash flow a little bit, but it's the same thing as putting away your savings in your retirement accounting, your 401k or your Roth IRA, whatever it is, just do it every month. Because all of a sudden you look in that account and you're like, holy crap. You know, I've built up a pretty good nest egg.

I'm glad Harry decided to introduce the reinsurance thing here, Jeff. And let me tell you this. If you're not doing reinsurance, call the birds at Dealer Re today. You know, it's. You can't get it done before the end of the year at this point, but get on board in January, get it rolling. They don't waste another year thinking about how in the world am I going to build wealth in my dealership. The only way to do it is with reinsurance company. Right, Jeff?

Absolutely. You know, I've been a full 12 months in mine. I'm pretty excited we're getting going. And when I look at it, I mean, I've helped reduce my tax burden, which was freaking horrible this year. And so it's a win win for me. Right?

It's a win win. And like I said during the podcast, 10 years I've been doing this and it's changed our life and it's changed the trajectory of our business. Jeff, Friday will be 10 years and I've had my reinsurance company with Dealer Re. And it's, you know, you and I can't speak too much about. We can't speak enough about it. So you're going to be able to.

Pull out some money and buy yourself a nice town and country minivan.

Yeah, I'm a town and country type of guy. Actually. It's Pacifica now, I believe, is what it is. Oh, yeah.

All right.

Yeah, I can see it in a town country, guys. Thank you for inviting me.

Thank you, Harry.

Now to you guys. Hopefully I can help whoever wants to take my advice and follow my path. Yeah, for sure. Take care. Thank you for joining us today. Hope this episode inspired you to take positive action. Remember to subscribe so you get each episode the day it comes out and we would love your help spreading the word. Leave us a review and share this podcast with your dealer friends. Dealers helping dealers learn and grow together.