Cash Sales Versus Terms—Quick Nickel Or Slow Dime

Hey, it's Mark Pulski, the land geek with your favorite niche real estate website, www.thelandgeek.com. and on this week's roundtable, we got the usual suspects. We've got Dude Buddy, the Nightcap OG Scott. Boston Scott. How are you?

Great, Mark.

How are you? I'm great. I'm great. Bearland. Aaron Williams, Bearland. How are you?

Doing well.

How are you?

Good to see you. My pulse is still normal. My respiration is fine. I'm trying to keep up with his Peloton workouts. 45 minutes today. Eric Peterson, the technician. You're killing me. Killing me, man. How are you?

I'm good, and I'm enjoying that peloton. But you know what I'm missing? I'm missing Aaron's regular roar when he gets his introduction. I don't know what happened to that, but I miss it.

We'll see if we can wake it up next week.

Yeah, maybe it's in hibernation.

I'm not even a comment on that because I did feel a certain void, and now I know what it is. You know how, like, there's certain things in your life, there's like. There's like this deep emptiness. It's the roar. Missing the roar. Thank you, Eric. Appreciate that. We got the most feared woman in the country, the terrorist hunter, Mimi Schmidt. Mimi, how are you?

I'm great. How are you?

I'm great. I'm great. And of course, we got the Big Papa. I love it when you call me Big Papa.

Tate.

Litchfield Tate. How are you doing?

Great, thanks, Mark.

And last but not least, we've got the brain, the Professor. Scott Todd. Scotttodd.net, landmodo.com if you're not automating your Craigslist and your Facebook postings, posting domination.com and investor ninjas.com Scott. Todd. How are you?

Mark?

I'm great. But you know what? I was very frustrated on Sunday because I have not done the Peloton as religiously as I had been. And I decided on Sunday, like, hey, I'm gonna go log in and like, for the first time, I think, in the month of August. And I did that. And then I look at Eric and I'm like, holy crap. This guy has, like, gone, I don't know, 30 something days consistently. Number of workouts at the time was 80 something workouts in, like a month. 80. 80 something workouts, 34 rides. And I'm like, man, this guy is putting us to shame. And then I committed right there, going to work out every day. And then Monday didn't happen. But today I can still do it today. So I'm going to get on that thing. I got to catch up with Eric, but this guy's a workout machine.

Scott Todd comparison is the thief of happiness. Listen, somebody with clearly is ocd.

I don't do well with, like, being behind. Like, Scott Boston will tell you, like, you know, like him and I got into a little competitive match and I think I took him down. Well, he took himself down. That's a different story. But Eric, I don't know, man. I don't know if I can catch.

A long ways to go to catch up.

I thought you took me.

This roundtable can't be about our peloton.

Workouts, but today's let's keep progressing is.

Sponsored by flight school and flight school live. You got to learn more because we all know and everyone says it, Everyone knows it. The best way to learn is to do. But even better is to do it with somebody who's done it thousands of times guiding you. That's what flight school is. That's what flight school live is. Learn more. Go to thelandgeek.com training so today's topic is based on a rant that I did in a real estate Facebook group.

So.

So somebody goes and posts a survey. How many of you are flipping land for cash? How many of you are doing terms? And it was like a two to one ratio, cash over terms. And I just went off. Just went off. I typically don't do that. And I said, look, I don't understand. Make me understand. Why on earth would you go through the trouble of buying an asset and then just flipping it and taking the cash and having to do it again and again and again when the only reason people invest in real estate is for freedom. Freedom being that you have more passive income, you're making money in your sleep, more passive income than your fixed expenses. You don't have to get up in the morning. You can be like a Scott Bossman. Scott Bossman used to be physical therapist. To have to see a client at a certain time, at a certain day. No more free to do that. That's gone, right? That's real freedom. That's real wealth. To work when you want, where you want, with whom you want. I've made the argument that if you flip property for cash, it does solve a problem. It solves a money problem. There's lots of ways to solve money problems. Those are called jobs. Why on earth would you want to create another job for yourself. So the topic today is, am I wrong? What am I missing? Poke a hole in my argument. Let me hear you sing the praises of cash over terms. Let's go, Scott Bossman. Bring it. What do you got?

All right. Well, I think just to give you a little perspective, my first deal, Mark, was a cash flip. I turned $700 into $2800 in just a couple months after getting the investor toolkit. Now, that sale changed my life. I do have to say that it solved a short term problem because that cash sale was a very small contributing factor to my ability to quit my job in a couple of years. So the passive income is the long term solution? I would definitely say that. But, I mean, I think we all get excited about doubling, tripling, quadrupling our money at times, and it can definitely help move the needle in certain aspects of your life. However, you're exactly right. The passive income, to me, is most important at this point in time. In my business now, the first year, those cash flips were important. Um, so I think it's. It's a matter of perspective. It's a matter of how long you've been doing this. It's a matter of, you know, what your. How your goals, what your. What your initial goals are, and then how your goals change over time. So that's. That's my thought on it. Everybody's laughing about. I don't know if you're laughing at me, Tate, or.

No, no, we're brainstorming our.

Our channel.

I gotcha.

Okay, so the first argument is that when I first started, I got this nice dopamine hit, and I got proof of concept, and it felt good to take that cash and with confidence, buy more land. All right, I'll buy that one, but I'm gonna poke a hole in it. But let's just go through all the arguments first. Bearland. Aaron, why on earth would you ever flip for cash?

I like cash. Sometimes I like the boost that a cash sale gives to my accounts. It puts a little extra money rather than what's scheduled to go in on my terms, into my land account. Lets me buy maybe a couple more properties to enhance growth. And then also a certain amount of that trickles into my personal bank account. That gives me kind of that whatever I want to do with money that wasn't planned to be there. Maybe it can go in a rainy day fund. Maybe it can go into motorcycle parts. Something cool. I like them other than I don't want a lot of them. I want maybe. Maybe 10% is I think what I'm comfortable with because I want the 90% of my sales to be termed sales. And then the thing I really don't like about them is the tax obligation in the current year with them, you know, because that's a big chunk rather than spread out like you can with the term sales.

Okay. Okay. Pretty good argument. Mimi, why on earth would you flip.

Free cash if your goal is not long term passive income? If you're trying to solve a short term money problem, whether it be just cash flow in your business because you started look, with a low amount of funds, or if like Mike Zander, you want to pay off your wedding or just buy more properties, sometimes you got to get the cash to do it. And it's one of the multiple options that you can use to get cash to fund buying more property. I do think that cash flips, they help you churn the money faster and make more money. That just requires a lot more work. You're right. It requires work.

Well, my blood pressure is really starting to go. I appreciate the answer. The technician, Eric Peterson. What's your argument for, for flipping a property for cash?

Well, I think if you're flipping for cash, it's because you want a job, right? I mean, you're looking for something to occupy your time and keep you busy because as soon as you stop doing that, you don't have a business anymore. So if you're selling on terms like I think all of us on this call try to do, you know, you've got income that is scheduled for the next six, 10 years, I mean, depending on your notes. So, you know, you can take a day off, you can go on vacation and your business keeps working. So, you know, it's not that I'm against, against the cash sale, but, you know, when I'm out there advertising to sell my property, what am I promoting? I'm promoting the terms price. When someone says, well, I have cash and I want to buy for cash, well, you know, I'll take it. Of course it's a sale. But ultimately I'm getting less money. You know, the price is going to be negotiated lower. It's not the same as the terms price. If I sell it on terms, I have the chance for default so I can resell it again. So I don't know. I mean, why would, why you would do that entirely? I don't have a good argument for it. I don't, I don't love it.

Okay. Okay. So it is fair to say that Eric is at least on this roundtable. Call hashtag teammark. Yes.

All right, we'll take it for this call.

Okay. I'll be looking for that shirt in the mail. Kate, make that argument.

All right.

You know, I'm having a hard time making an argument with you here because I agree with you. I don't know why anybody would sell for cash. I guess the only reason you'd sell for cash is because you've never tasted passive income. That's it. That's the only thing I can think of.

Right. So essentially, it's kind of like you're a Microsoft owner.

Yes, yes.

Been eating gruel your whole life. You've never tasted the beauty, the Mac, so you don't know what you're missing.

Yeah, yeah, yeah. They don't know what it's like to get a $250 payment when they wake up in the morning and check your email and see that. They just don't know that. And they think, oh, I'd rather have the fast cash today. And, you know, they're after the quick nickel. I'm after the slow dime.

Right, right.

So, I don't know, I'm having a hard time coming up with an approach that would stump you just because, you know, like, I know, Mark, you started off doing a whole lot of cash deals and it probably cost you.

It is my biggest regret in business. Absolutely. And to Eric's point, the only reason I did it was to get out of my investment banking job. I did create another job for myself. Now, in retrospect, it was a better job for myself, but it was still a job. So it was just. I was just transferring one pain point for a little less pain of a point, but still a pain point. And my biggest regret for sure. But it did get me out of my job for sure, which I hated so much. But when I look back on it, I could have done both. I could have had the cash, I could have had the passive income and my net worth to be so much larger today than what it already is. Scott. Todd, you want to poke some holes in it?

Okay, look, I'm a big fan of passive income, so I'm stretching here. However, I will tell you this, and it's. It's not necessarily an easy argument to make, but I would tell you this one.

Here it is.

It is that. Let's just say that I wanted to go buy something big and I wanted to pay cash for it. I don't know, like a boat, for example, or some other asset. Let's say I want to go buy something. Well, let's just use a boat, for example. You go buy a boat and you can buy a nice boat for let's say, $40,000, right? Like you go buy this thing. Well, that doesn't necessarily mean that I want to take $40,000 out of my bank account. What it could mean, though, is, man, if I just buy a couple of lots, let's say I buy these lots for $10,000 and I sold them on our terms, or, you know, in terms of, like, our cash margins, if you will, well, then I'm going to come back out of it with, let's say $40,000, and now I can go pay cash for an asset that I want to own. Now, I could also make the argument, well, I could go down to the bank and get a loan for that thing, and then the loan is going to cost me, you know, let's say 3, 4, 5, 6%. And I might as well just keep the cash deployed into the business. Either way, it just depends on what.

You want to do.

Like maybe. Maybe you're at the point in your life where you don't want to necessarily have more debt or any debt, okay? So you want to have the toy, but not the debt. So, so go buy some land, flip it for cash. Buy the toy that you want, Boat, car, motorcycle, whatever it is, house.

So you're. You're saying let's take an appreciating asset and let's just flip it to buy a depreciating asset. That is like, the worst idea.

Hold on, hold on. No, no, you're putting words in my mouth. No, you see, you see, this is where you're wrong, okay? Like, this is where you're wrong, and you're wrong here. Because while land is an appreciating asset, the minute that I sell it, it's no longer mine and it's no longer appreciating at that price. I've already locked in the price to sell it. Now, we could make the argument that, oh, well, somebody might.

Thousand percent time value of money, much higher profit on it.

In that case, you're wrong because it's an individual decision to go do.

Okay? So your daughter comes to you and says, dad, I'd like to take all my college fund money and I'd like to buy a car, okay? Not a bad investment. Honey, it's an individual decision.

What I'm saying, though, I'm not saying take your college. No, it's not.

It's an investment. It's an investment that's going to pay off in the future.

Mark.

Mark, not making anything right now, going to class. No, listen, it earns zero.

Listen, here's the thing. If I took a piece of land, there's no mic drop there. If I took a piece of land that once I sell it, the depreciation or the appreciation is over at that point because I've already locked in the sales price. Why not take the money today and go buy something that I want to buy? I mean, shit, man, they. Oh, I can't say that, sorry. They say you're getting me upset now. They say that like the recession yield curve is flashing like recession, recession. Well, why would I want to go and get a bank loan on a toy if I want the toy when I could just flip the land, be done with it, own it for cash. It's all mine, man, all mine. I didn't pay full retail price for it either.

Of all the arguments, Scott Todd, yours is the most disappointing. So let's, let's just, let's just break it down.

While you guys were arguing, I just got passive income. So there you go.

Nice. $359.22. I love it.

Well, I told you that I agree with you.

That's money on. In your sleep, Scott Todd. Okay, so look, let's just break down the worst of the arguments, okay? Which is let's just flip for something bad, like an appreciating asset, because I want the cash and I don't want to go into debt. Number one, you could sell your asset on terms. And then let's say you need cash. You would just sell 12 months of that cash flow to an investor. You'd get your money out and you could use that as a down payment for your depreciating asset, like a car or a boat or a plane, whatever it is, that is literally going to just give you that little hedonic treadmill hit and then you'll be bored of it in about two months. Unlike the passive income, which will last for years and years, whatever. Now, so that's the first thing, is that your note can actually provide you cash. You get two bites of the apple, you get your cash out, you can redeploy it, hopefully in a better way, which would be for more appreciating assets, and then that passive income reverts back to you in 12 months. I would argue that that's probably the savviest of strategies. Now the second strategy would be don't ever use your own money. Now you can make the argument that if I have no track record of being able to sell These properties. Why would anyone give me money? I would make the argument that if Aunt Myrtle is making 2% or 1% or 0% on her cash, you tell Aunt Myrtle, who you've known your whole Life, give you 10%, 12% on your money debt, it's backed by this asset. And Myrtle is probably going to give you a couple grand, which is enough to get going. Right. You don't have to flip for cash. In fact, I would make the argument, can you name one person, one person that has made any amount of money of substance that has not used leverage? You just like, oh, I want to go debt free. I can't name one. Everyone uses leverage, capital leverage. Let's use you. Warren Buffett, right? He uses other people's capital, labor leverage. We go to upwork, we go to fiverr, we use other people's time. Then there's leverage like this, which is media leverage, like a podcast or software. Right. There's so much leverage out there that we're using in our business to build real wealth. It makes absolutely no sense. So once you remove leverage from this equation, you have built yourself a job. And we could always make the argument that, yeah, you do solve a money problem. That's great. I would argue that there's probably better and easier ways to solve that money problem, like, oh, I don't know, go to law school, become a doctor, they make a lot of money. But if you ask your doctor and you ask your lawyer, who would you rather be, me or you? Me being the person making 10 grand a month passive. 20 grand a month passive, Were them hustling to make, you know, 400,000 a year? They pay their taxes and there is no getting off that treadmill ever, ever. Unless they start buying assets that provide them income without them having to do anything. That's it. I don't understand. Cash is great. If. So if you have a money problem.

Right. I have a question. So the yield or the roi? You know, I love the financial calculator. It's higher on a cash deal. So I have this particular scenario going on right now. Cap front yields, it's a higher return. Right. So would you take a term steal that was 2 years for $330 and 8000 was the total or a 5 year deal that was $100 a month and yielded 12,000?

I don't.

Just a whole cash up, right? Well, it is. The 8,000 in two years is 100% ROI or yield, whereas the second deal is only 70%. Right. So then why not squishing that receiving that cash even sooner, that is higher roi, right? It kind of, it lends itself to that argument that yes, you creating yourself a job, but then your return is.

Higher from an economic perspective. Mimi, why would anyone do that term deal? Because it's just time value of money, which is why we get a higher price. The longer out we go, we're taking more risk and there's inflation. I mean, I guess we could create unrealistic or unpractical scenarios. But in reality, if I have a property that I paid for $5,000 and I'm going to sell it on for 19,000 or 20,000 on terms, right. I'm going to go out as like for 10 years as opposed to five years because I'm have a larger buyer pool because it's an easier car payment right now. And that's just the market. I don't make the market. Now if the market is saying we want these shorter yield, you know, these shorter terms and you get a higher yield, again, I wouldn't fight the market. But the market is typically going, your biggest buyer pool is going to be a longer term in a smaller note in a moderate down payment. So just to recap the argument, if you're going to go into real estate, build wealth, you can always make more money, you can't get more time. So I understand if you have a money problem and you want to solve it, we have a wholetailing course coming out. We're going to teach you how to double your money in 30 days or less. You know how much we're going to charge for that? Zero. Because that's what I think the value is. Long term, it's essentially going to solve a money problem. And my argument is take that money and reinvest in yourself. Get more training, buy some more assets, get proof of concept, but then get serious about building real wealth. If all you're going to do is just, you know, let's say do what I did and use flipping to get out of your job, which you hate, to create another job, that's fine to solve a short term problem, but I would argue that it's not a long term solution. It is not going to build real wealth. So I think my rant's done. Scott Todd, do you have anything else you want to add?

Well, you kind of mentioned this, but remember, in my business, just the ebb and flow of it, 25% of my business is cash sales, 75 is terms. So in my business it's important to understand that if I only focused on the cash buyer Then I'm gonna miss out on 75% of the market. If that's what you want to do, that's on you. But remember, your goal should be to kind of get as much of the market as possible. And the reason that this opportunity exists is because the banks won't finance land. So now you're just going after the people that have the cash. It's gonna be harder to sell that way.

Yeah. Eric Peterson, do you have anything you want to add?

No, I don't think I have anything left to add.

All right, Mimi, did I. Did I cover everything with that rant or did I miss anything?

No, you did. All true. All valid.

Yeah. I mean, again, if we flip for cash, let's say we take. We buy for a thousand, we sell for 5,000, we have a $4,000 profit. Just say 30% of that's going to go to taxes. Now, what are we going to do with that cash? Right. Now, if I took that same thousand dollars and I created a note on that, and let's say that I built up enough of these notes to just get to. Let's just say 5,000amonth in passive income. Well, that same 5,000amonth, that's $60,000 a year. If we just took that cash. Well, how much cash do we have to actually have to save then as a land flipper, to have that in passive income? So at 2% at their bank, take no risk. That's what, 3 million is that? Am I doing the math right? You'd have to have 3 million in cash, is that correct?

I think so.

I think so. At 2%. So you'd save, Mr. Land or House flipper, hopefully aggressively, within a year or two, $3 million to achieve the same result that I am of throwing off $60,000 in passive income. That's really powerful when you think about it. Think about that again. How long would it take you doing what you're doing to save $3 million? We have clients that have gotten up to $5,000 a month passive income very, very quickly. Six months, 12 months, 18 months. That's real wealth. Then they go to their bank and say, hey, look. Look at all these assets I have. They're producing $60,000 a year in passive income. My net worth is $3 million. Bear land. Aaron, anything I missed?

No. It sounds like cash can be a tool, it can be a springboard, but it shouldn't be a strategy.

Okay, dude, buddy, anything I'm missing?

I mean, I think the rant wins, just like it did on that on that forum, nobody. I mean, you ranted and ranted, and everyone was speechless.

All right. Yeah. Eric said, would you say this is a way we are different from the other groups out there teaching land? We focus on terms deals versus quick cash flips. I don't know because I don't pay attention to what other groups do. But I'd say that if they are doing that, then they are doing a disservice to you. Instead of being investment training, it should be OTJ on the job training, because that's what they're doing for you. I don't know what that's worth. Usually when I think of a job, I think of more security than land flipping. Right. I go in, I give my application, they give me benefits. Right. Okay. So, yeah, you can make your own hours, I guess. You're certainly building another treadmill for yourself. Maybe it's a nicer treadmill, but it's still a treadmill. Tate.

No, I agree with you. I think you nailed it. Everybody shouldn't be opposed to cash. But if you're serious about getting out and enjoying some daytime movies and not feeling bad when you're on vacation, the only way to really be able to do that is passive income. And knowing that I'm making money when I'm riding my bike, when I'm out at ballet or doing any in the pool. I mean, yesterday we spent all day in the pool because it's so hot here. So it was nice to be able to do that. And passive income allows that I don't have to hustle every day if I don't want to.

Yeah. I mean, there's that amazing feeling of waking up seeing the money just magically appear in your bank account, and you literally don't have to do anything. Right. Like, when I first started, I had a new problem when someone paid me cash. Oh, no. Now I've got to go create a copy of their deed. I've got to go record the deed for them and let them know the deed is on their way. Then I got to go to the bank. I got to get notarized. It actually created more work for me. Like, it was fun in the beginning. I was like, man, this is the job. I can't outsource deeds. At least I didn't at that time. Can't outsource any. I mean, I could have, but I didn't even know enough about that. I mean, if you're talking about, you know, 2001, 2003, we wouldn't have the technology we have today. So, yeah, Technology will save you time. It will make that job a little easier, but it's still a job. And I really would make the argument, if you're, you know, life is short, build real wealth for yourself. Time, wealth. And I think my rant's over. So I want to thank the listeners. And if you are enjoying and being entertained by these podcasts, email them to a friend, go on the interwebs, send us a screenshot of the review. So all you have to do is go and rate or subscribe rate, review the podcast, send us a screenshot of that review to supportlandgeek.com and instead of sending you the passive income launch kit, we're also going to send you the wholetailing course as well. I just need to get the thumbs up from day and yell that it's ready, but you can beta test that as well. And we'll do that. So thank you. And of course, this podcast can't end without a Mimi Schmidt tip of the week. Mimi, what do you got? Oh, you're on. You're on mute. Mimi.

Currently in Facebook, in Messenger, you can't get your leads into a CRM. And I don't know if many people know this, but Facebook, there was actually functionality out there so that your personal profile's messenger could interact with CRMs. And they hold it back because Facebook wants those buy sell groups and messenger, they want it to be community. They don't want it to be flush with businesses. So I found this Google Chrome.

Oh, Mimi, you got muted.

It's called Messages for Facebook Messages Saver for Facebook. Okay? So you can Google it or you can use this link. When you look it up, there may be multiple of them, but this one's offered by Fatty, no parents. Okay? It costs $3.99. All right? You install it, and then when you're in Facebook messenger and you have all of these leads come in and they're giving you their email address or their phone number. But you know, you've got your mom and your sister and your best friend also with their messages in there, too. You can click through, click on the message, and then click on this Google Chrome extension, and it'll download the conversation into a CSV file. Okay? You can modify the date. It'll go grab your whole. The whole conversation string. But let's say today they gave you the email and you want to just put today's date in there. It'll let you do that. And then with those CSV files, you can put them into a Excel spreadsheet or to A Google sheet that you can then zap into airtable or into your CRM. So that is the way to automate our messenger, Facebook messenger into airtable or into your CRMs.

Wow, that is really, really cool. Very, very cool. And less than a cup of coffee. Not bad. Yeah, I love it. Alright, well I thought this was a great roundtable and I really appreciate everybody being allowing me to indulge my rant. Hopefully my point came across very clearly. If it didn't, just email me and make your argument and I'll go ahead and try to make it more clear for you. But are we ready to do this? 1, 2, 3. Let freedom, freedom bring notice. We say let freedom ring, not let flipping ring. It's a big difference.

The only way to freedom is passive income. That's really the only way to do it. I mean, I can't imagine like having to go and worry about like where my next flip is coming from. I mean if I don't make a sale this month, it doesn't matter because I got the people that have been paying me for a while. It's, I mean it's always nice to have more sales. But sale, no sale, who cares? But man, if I was flipping, I'd be freaking out. If, if in a given month I wasn't making a sale or if a time period goes by, it's like, how am I going to pay my bills?

Yeah, I mean, I guess if you had an entrepreneurial enterprise and you really had this thing working like a well oiled machine, I guess you could make that argument that as like a business owner entrepreneur, I don't know, then it might work, I guess. But as an entrepreneur, if, let's say you're flipping houses, you're flipping land that has no enterprise value, that machine really has no value to it. You're just buying assets and losing the asset and taking what would hopefully be a profit after your mailing costs, your acquisition costs, your fees, all those things, paying taxes. I mean, I don't think it'd be a sellable business necessarily where you could sell a note portfolio for millions of dollars to an investor if you just wanted to cash out. I don't know, something to think about. Or you could maybe, could you make the argument about velocity of money if you could turn over your cash seven times in a year, is that better than terms? I don't know. Because you know, how much are you discounting your own time to do that and how much? I guess if you're doing that in a tax like a QRP account. Like a tax free account or tax deferred account? It might. I could see that argument. But again, I think that for the majority of people, that, again, doesn't really solve your problem. I guess it would just solve a money problem. Again, something to think about. I don't know. All right, I gotta run. I assume Tate's not going to Cheesecake Factory today for lunch?

Today?

No.

No. Eric, you're jumping on the peloton again.

No, I'm done for the day.

You're done?

Mm.

Till tomorrow?

Yeah, barely. Aaron, you're jumping on the motorcycle.

I might.

You might?

I might.

Yeah. Dude, buddy, you're gonna go on a hot date with your wife? Erin?

No, I got a meeting tonight. I'm gonna go mow the lawn right now. Beautiful day.

Okay. I mean, that's a perfect example of somebody really not looking at their effective hourly rate in the proper context. I know. Like, no, I love mowing the lawn.

I like mowing fine.

All right. But I would argue that from an economic standpoint, not the best use of time. Mimi, what do you got going on? Mimi's afraid to say I'm mowing the lawn, too.

No, I have to close this sale. I was talking to you about the two year. The five year old. Make a choice and do it.

Take the two year. If the yield's better, for sure.

Yeah.

Just sell it for cash.

Yeah. No.

If I had the heart rate monitor on right now.

Palpitations.

Palpitations. Scott. Todd, are you flying or are you land or air today?

Or water or water and water?

Air. You're like, what is it not the seals? Is it the seals?

Seals.

The Marines.

You're a Marine? You're like a Marine.

Look at Eric's background. That's beautiful.

I love it.

I think he ought to do it every week.

The Cheesecake Factory is his backdrop. Beautiful pictures, Mark. To answer your question, I am in the office today, you know, cutting deals.

I love it. I love it. That's a good use of time.

Before I go.

Before you go mow the lawn. I know you're not mowing the lawn, by the way. You know, last week, I like, you know, Mimi and I were the only ones who were like, we're kind of like, not making our kids do a ton of chores. And then, you know, Boston's like, have the kids do it. How come your kids. You got teenagers, Scott. How come they're not mowing the lawn?

Oh, they help. They assist. We have a little system. I do the trimming, I do the perimeter, and then I hand it off. I'm a little picky about the perimeter.

So how many acres do you have? Like, how long is this?

One third of an acre. It takes me an hour. We're good.

That is. That's a big lot, for sure.

Yeah, it's a big lot, right?

No, it is. Third of an acre is big. What, for out here? It's huge.

How many acres do you have?

Five acres.

Five acres.

Wow. Yeah, I think Brent Bowers has, like, 100 acres or something. And Matt Forbes has, like. Hope he doesn't mow all that, like, tons of acreage. Those guys, I don't know what they're doing. Craziness. All right, thanks, everybody. See ya. See you next week.