Ep #550 – MFRS – Finding Deals & Finding Money for Multifamily
Sam Newell is in over 1200 doors as a GP/LP. Sam has an interesting history with real estate and was the number one realtor in two states! While looking for better returns and stable investments he found multifamily. Here’s some of what we talked about:
- Building your team
- Building trust with investors
- Simple but not easy
- Choosing partners
- Trusting your intuition
- Creating wealth
- Qualities of a full time real estate investor
To find out more about our guest:
Full Transcript Below
Rod: Welcome back to Multifamily Rock Stars. So, this is where we interview people that are crushing it in the business and we show you guys the inside scoop into how multifamily investors are creating massive success not just in their businesses but also in their lives. And, as always, I’ve got my co-host, Mark, from my direct– He’s the director of my massive action team, Mark Nagy on the call for the, you know, for the Warrior Mentorship Program. Mark, what’s up brother?
Mark: Hey, Rod. Not too much, just super pumped, super energized today. A lot of energy over the weekend at your boot camp over 800 people. And so, it’s always a re-energizing event to come out and just continue to crush our goals.
Rod: Yeah, yeah. I mean, yeah, we had 800 people pay to attend, you know, the first day I think we were running around 650. But after 18 hours, there were over 500 people that stuck with us Sunday night, so it was like just incredible. Really had a lot of fun, but it absolutely wiped me out. But I’m super excited to have my friend on the show today and his name’s Sam Newell, and Sam has got an incredible background. So, he was the number one real estate agent Utah and Idaho for, you know, done over a hundred million dollars in real estate transactions and you know, got it came into our program and has just killed it in the multifamily spaces and over, you know, in around 1200 doors as a GP and LPL, over 700 as a general partner, and just really gonna have a lot of fun today. Sam, welcome brother.
Sam: Rod, thanks so much for having me on. It’s good talking to you.
Rod: Yeah, likewise. Now if you guys on iTunes can’t see this, we’ve got a great picture of him and I at an event behind him as the backdrop. And guys, I’m 6’3 and he’s like towering over me, giving you an idea how tall Sam is. But how tall are you, what is that? 6′ 8”? 6′ 10”?
Sam: Nah, 6′ 5” in shoes, 6′ 5”.
Sam: I think you were tired or something, you’re maybe slouching a little.
Rod: Yes, something, all right?
Sam: I know you put a lot of energy into your events, so.
Rod: Yeah. Well, thin flip-flops too, probably. That’s probably what it was.
Rod: Anyway. So, you know, why don’t you take a few minutes and talk about, you know, your progression in this business, because you’ve got a really impressive background as it relates to, you know, being a sales agent then moving into, you know, an investor status, at least active investor status. So, yeah, give us some background.
Sam: Yeah. Well, Rod, thanks man. I owe a lot to you and it’s my pleasure to being on your show. You know, I’ve been selling real estate and investing since 2010. And so, I got in at the bottom of the market and I got lucky, but I regret not getting into multifamily sooner. You know, I started flipping houses and that’s why I got my real estate license. I was flipping houses, doing great, and for eight years, that was fantastic. I grew my business and, you know, made seven figures in income in 2018, that was fantastic. But I really wish I had gotten into multifamily sooner, and I’m very thankful for your training, and I’ve been to your boot camps. And in 2018, I decided I don’t wanna sell homes anymore. I was already focusing mostly on investors selling fourplexes, duplexes, 20-plexes, and I knew that the bigger you go, the more recession-proof you are, the more economies of scale you have, and I had learned that over the years. And I had this loyal following, this client base, that it was almost scary because I would say, Hey, go buy this, and they just buy it. No questions asked. And I started to get nervous like, Geez. That’s a lot of responsibility, and good thing I’m ethical and honest, because there’s people that aren’t out there, but I wanted to find something that was more recession-proof, better returns, and something that I could really get behind, and also help control the results for these investors who I was making a ton of money by selling them properties, but then sometimes they wouldn’t manage it right, they would make poor decisions, or they wouldn’t buy the right property. The market was getting so hot price was going crazy, and I just, I said, Hey, I’m gonna find a mentor, and I’m gonna find someone who can really help me break into big, big multifamily transactions. And then I went to your Chicago event, we met, and I don’t know of anyone that’s put down laid out the information better than you that has put more really enthusiasm and is more caring than you. And since 2018, I’ve learned a ton and done deals with you, actually. And last year, we closed on just over $50,000,000 with a multifamily, and we’re really excited about the results we’re getting for our clients and for our investors.
Rod: Yeah, fantastic. I know you raised almost $20,000,000 last year as well.
Rod: And you’ve done an incredible job raising equity. So, yeah. And I know that you’ve actually teamed up with another warrior who actually, who I pinged today, I want to chat with her, Tien. Now that’s just incredible, and you’re such an incredible success story. So, you know, why real estate in the first place? I mean, you started it, you know, flipping and stuff. Was there a background before then? Just, you know, I never asked you that, I was just curious.
Sam: No. I mean, that’s a great question and all I can say is my buddies and I in college were not excited about making $60000, $70000, $80000 a year out of college, you know, we just weren’t too excited about that. I was doing summer sales every summer to pay for college, making $40000-$50000 a summer knocking doors. So, I knew I wanted to be in sales but I’d always heard that there’s a lot of money in real estate, and I feel a lot of people hear that. They go on bigger pockets, they go to your events, and they know money can be made in real estate. And so, really, it was a desire to get rewarded for the amount of work I was putting in, and not just get a nine to five job, and spend the next 20, 30, 40 years of my life helping someone else grow rich and build their retirement.
Sam: So, that’s where it started. And now we’re taking down, you know, $15,000,000-$20,000,000 multifamily properties, and it’s a lot of fun and very rewarding.
Rod: Yeah, it sure is. So, you know, talk for a minute about team if you would, because this business is a team sport, and you have aligned yourself with some amazing people. I know a couple of them and I don’t know if there’s more than what I’m aware of, but, you know, talk about maybe how that came together and the different roles that you might play inside of your team right now. Your nucleus. I’m talking about the internal team right now, I’m not talking about the brokers and property managers and all the external people but internally.
Rod: Can you speak to that for a moment?
Sam: Yeah. I mean, one of the most influential books in my life has been “Think and Grow Rich” by Napoleon Hill, and he talks about masterminds and hanging around people that have similar goals, and ambitions, and ethics as you. And in 2018, I made a decision after having some pretty negative partnership experiences with partners who were dishonest, or who didn’t value integrity, or who were more worried about every penny that they were going to make, not worried about the project as a whole. I made a very firm decision to only work with extremely honest, integrity-filled people who were fun to be around. And when I went to your event in Chicago, I remember asking you, Hey, how many of these people that coach with you and this mastermind group that you’ve created, how many are actually doing deals and good people to be around? And you said, You know, I don’t let anybody in, that’s not someone good to be around. And that’s what I wanted to associate with, so we ended up bringing Tien on board, who you mentioned. She has her doctorate, she’s already investing in real estate, extremely sharp individual. We love working with her. Just a fun fact about our team, we closed on a lot of real estate last year, specifically in December. We closed on $36,000,000, and Tien nor Lyndon nor I have even been paid yet. Because we’ve been so worried about our investors, and sending them distributions, and getting the operation set up correctly, that our team and I love that. I love that Tien isn’t blowing up my phone saying, Hey, when do I get my portion of the acquisition fee? Lyndon, same type of guy. Really fun to work with. Extremely smart. And both of them fit exactly what I was looking for in team members. They’ll work just as hard as me, if not harder. They’re positive and fun to talk to every day, and they’re not greedy, and they’re looking out for the best interest of the deal and our investors not their pocketbook, and I really value that a lot. I won’t ever work with someone again that doesn’t have those at the top of their list.
Rod: No. I love it. Yeah. And I remember when Tien was gonna join the warrior program. I think it was, was it Baltimore? I think it was Baltimore. And, you know, she wasn’t sure. She wanted to go all in and just, she’s come so far alongside you. It’s just been incredible, so it’s just been beautiful to see that. And yeah, so.
Sam: Yeah, it’s been great. Props to you and, you know, the Warrior Program. I was a part of it, worth every penny, I mean, what I wanted and this is how it’s all I’ve always been, I don’t want to recreate the wheel. I want a system laid out for me because I know people have done it before me. I know people have been successful. You know, the picture behind me, that’s your Mastermind group. I partnered with Jason Perro, and yes, we did a deal together in Cleveland recently. And, man, I’m so thankful for that connection because we’re killing it. We just send out distributions at 8% to our investors, and man, what a couple of awesome dudes too. And, you know, their significant others as well that we’re in business with. We’re extremely grateful for them and the Mastermind, and just the ability to bounce ideas off and potentially partner with some really solid individuals.
Rod: Yeah. Well, that’s, you know, a rising tide lifts all ships. And that’s why, you know, these groups are so incredible.
Mark: Yeah. So, Sam, you’ve obviously got, you know, a lot of deals done in different spaces, single, multi, real estate sales, but what would you consider your greatest professional success so far up to today?
Sam: Greatest, I would say that’s easy. December 2020 was an absolute, just crazy, crazy month. I never want to repeat it ever again. Basically, we had a huge amount of money come to us in the second half of 2020, and these investors said we have to buy a few deals by the end of the year. And there was 1031 consequences, tax consequences, just a huge amount of pressure on us. And so, we went out and found these three deals, one was Cleveland, one was El Paso, one was Texas. And we closed on $36,000,000 worth of multifamily in December of 2020. All at the same time, we raised all that money all at the same time, and a fun little tidbit on the Dallas deal, the bank came back and said instead of 25% down, and this was a week before Christmas. We were supposed to close like the 23rd, they said, We want you to put 40% down. That was an extra million and a half raise and I was already at my wits end, raising money during the holidays, and we did it. You know, we did it. We closed on the 30th and just in time to meet those deadlines, and I would say, my team absolutely killed it. They carried me through Jason and Yens carried us through on Cleveland, Lyndon and Tien. I mean, that’s why Rod’s question was so great. To start is, the team absolutely made that happen. We could have not done it without each other, we worked, I swear, we worked 80, 90 hour weeks all of December to make that happen.
Rod: How many assets was that? Just the two? Or was there–
Sam: Three. That was three assets, $36,000,000. Yeah.
Rod: Yeah. And so, one or just to drill down, just a hair further. Have you guys delineated your roles inside of your team yet? You know, I know Tien’s super analytical, so I’m sure she’s helping with the analysis maybe. I don’t put words in your mouth. Tell me.
Sam: Yeah, you’re right. Yeah, she’s extremely analytical, extremely smart. I mean, she’s a doctor. So, yeah. She’s our head underwriter, our head deal finder, and once we get a deal under contract, she’s head of all due diligence and really anything to make that deal move forward. Lyndon is, and she also helps with the lenders as well. Now, we all had to kind of do everything in December because we had three deals all at once.
Sam: Lyndon is, now that we’ve closed on those deals, head asset manager and head of finance. He actually has a Master’s in Accounting. Extremely smart guy, very analytical as well. So, he’s head of finance and helps with asset management. We all kind of help with asset management. And I’m simply looking at deals, traveling to look at deals. I do all the due diligence in person for the team, and then I raise all the money, and work with investor relations. And it’s worked out really well so far.
Mark: Nice. Now, I can imagine those, whoever that was, didn’t just come randomly knocking on your door saying, Hey, we’ve got a bunch of money that we need to 1031. Probably previous relationships you had built. Correct?
Sam: Yeah. I mean, I’ve been in the real estate business since 2010 and have built a pretty loyal following of investors and people who trust me. You know, my favorite thing to tell people is I’d rather lose a deal than have you buy something with me or invest in something that isn’t good for you. And that’s, people know that about me, people know that I’m brutally honest and I’ll tell them not to buy a deal. And yeah, I’ve fostered these relationships for a long time. I had really didn’t start raising money until I started working with Rod and Robert on a couple of their deals. And I did that specifically because I wanted to join up with people who have been doing this a long time, who do really good deals and I didn’t want to make rookie mistakes, and I think my investors really appreciated that. They understood that it wasn’t my deal that I was raising money for that part. I had chosen really solid partners. And so, it actually helped me when I started doing those own deals of my own that they knew I had partnered for a year and a half with, you know, Rod and Robert on some extremely large deals as well and kind of basically avoided the beginner’s mistakes and that learning curve with them. So–
Rod: You played a heavy role. I mean, you were involved in the due diligence, you’ve been on the asset management calls, you know, you’ve played a heavy role there.
Sam: Yeah, definitely. And I think, you know, this business is simple. It’s not easy but it’s very simple. You just got to find deals and find money and put them together. But it’s not always easy and so, yeah, you have to foster those relationships and I always tell people when they come to me and say, Hey, you know, I’m new at this. What should I do? And I always tell them find deals and work with someone like Rod and Robert or me or someone else and bring that deal to them and then they’ll help you find money. But those are the only really two things that you have to do in this business.
Mark: So, for someone listening then who’s hearing that story and maybe they’re thinking, Well, it sounds easy, right? He just had some relationships and some money come knocking on his door here, right? What practical tips would you give to a listener right now who’s listening to this to put themselves in that sort of position for their future? Well, what should they do?
Sam: Yeah. I mean, massive action. Rod talks about taking massive action and that’s one of the biggest takeaways. And I don’t think people understand how much massive action it takes to be successful at this business. Lyndon and I, and Tien, we– to buy one deal just like Robert always says in Rod always says, we’re looking at 100, 150 deals. I mean, we are underwriting day and night, day and night, day and night, and that’s how I started my business as a realtor. I would cold call from 8 am to noon every day to find business. Five days a week for six years that’s what I did to build my million dollar, you know, real estate business, producing real estate business. And so, I just took those principles into syndication into large multifamily. And I was calling brokers and cold-calling property owners. And so, I knew it was just a numbers game and I just needed to speed up that numbers game, so we brought on Tien, brought on Lyndon, and we were all calling brokers, all looking for deals, all learning how to underwrite deals and actually the way Tien joined our team is someone sent her to me because I knew about Boise but she ended up having a deal in Albuquerque in Lyndon’s backyard and we bought it with her. And we really liked her and now she’s part of the team but she was just out looking for deals and she was smart enough to do the same thing. Just found a deal and we had the money available and we teamed up. So I would say, it takes a huge amount of action but it’s simple. All you have to do is keep looking for deals. It’s not complicated. It just takes a lot of work.
Rod: You know, I say, if you’re willing to do what others won’t, you’ll always be a success. And you are the poster child for that comment brother, seriously.
Sam: Thank you.
Rod: I mean, that cold calling, when you– and, you know, some of the more successful students that we have are the ones that take that single family experience. Be it, you know, that direct marketing experience for example, the mailing, the cold calling, the things that most people don’t do in the multifamily space but they bring that to the multifamily space. I mean, success is inevitable. So, let me ask you this. Do you have a favorite failure that may have set you up for future success?
Sam: Absolutely, and I have two. One of them isn’t– it was a could have been a failure. We got really lucky. And that was when we, Lyndon and I, bought a hotel in 2018.
Rod: Oh, yeah. I remember the hotel. I remember a video of you on the roof of that hotel. Anyway, sorry I interrupted it.
Sam: That was, yeah, talking about the roof, I drilled a hole in it because we had massive leaks everywhere and then a rainstorm hit. Literally, we had a geyser coming into the hotel and Lyndon was so mad at me. He handled it well but I just, I didn’t check the weather before I was drilling holes and we figured it out. But yeah, we bought this hotel that was run down. It was 96 doors and then Covid hit. And so, we’re in the middle of this remodel. Still trying to cash flow it. And here’s the thing that I knew that we should not do but we did anyways. We bought the deal without having the rehab budget raised, without having the rehab money available.
Rod: How many times have you heard me say that too? Oh, man.
Sam: Well, here’s the thing. We didn’t bring in any investors on that deal specifically for that reason. Because we thought we could do it without a rehab budget, we didn’t bring anybody in, it was our own money, we paid cash and we were doing okay remodeling through cash flow which is stupid. It’s a terrible idea.
Rod: Okay, let me interrupt. Let me interrupt. Let me interrupt. Guys, we never do that. Okay? We always raise the money for our CapEx, for our renovations. Always, always, always. Okay. I just want to flag that for the listeners.
Sam: Yeah. I mean, that’s the point of the story. Don’t think you can remodel through cash flow.
Sam: And again, that’s why we didn’t bring investors in on that deal. But Covid hit, we went down to zero percent occupancy. We got really lucky the city loved us because we were turning around the hotel and they filled our hotel with Covid patients who needed to be quarantined but not hospitalized.
Sam: We ended up selling it a few months later for triple the amount of money we bought it for.
Rod: Beautiful. That worked out well.
Sam: It could have been a failure. We got very lucky. The other one was with partners. Choosing the wrong partners and spending too much time with negative people who I didn’t feel were very honest. I knew I should have left the company that I was doing deals with back in 2016-2017. The money was good and I was really trying to do the right thing, but when I left I thought, you know, why didn’t I part ways with those partners a lot sooner?
Rod: Yeah. I remember you and I talking about that as well. I remember when we first got together, I remember having some dialogue about that, about integrity and you were getting my feedback on the situation you were in. I remember– and guys, you know, as it relates because this is a team sport, as it relates to partnerships, you know, it’s so important that you ask all those hard questions up front and most importantly that you trust your gut. Because you’ve heard me say it but if you haven’t, you know, your brain is so freaking powerful. It will sense nuances that you can’t consciously perceive. In fact, there’s a great book that talks about this. Malcolm Gladwell “Blink”, how, you know, an art expert can see a painting and know it’s a fake but he doesn’t know why it’s or she doesn’t know why it’s a fake. And that’s what I’m talking about here is that intuition. You must trust it. So, you know, that’s a really, really important and I’ve got a resource for those of you before you start a partnership of questions that you would want to ask your partner. In fact, I just, I literally just referenced it because I’m starting another partnership as well and it’s called, “Questions When Forming A Partnership.” You can see I’ve got sticky notes on pages I wanted to ask my new partner about. But if you want this, just text the word “partnership” to “72345”. It’s a free gift to you. Again, that’s “partnership” to “72345”. And by the way, if you’re interested in our warrior program and you’d like to apply, text the word “crush” so we can help you crush it. Text the word “crush” to “72345” and we’ll, you know, we’ll see if you’re a fit and you’ll see if we’re a fit. And if it’s not, you’ll still leave the call better than when you came I promise you that. But again, that’s “crush” to “72345”.
Sam: Let me just say something about that Rod. You know, I haven’t told you this but the reason I came to your event is I could tell you had the system laid out really, really well and you had amazing online reviews and everything. And I joined the warrior program and then I joined the mastermind simultaneously. Both have been extremely valuable. But I don’t think you– I don’t know. I don’t know maybe you do but I don’t know if you realize how much wealth you’ve created just through the warrior program. And we’re talking about Tien and Lyndon who don’t or Lyndon didn’t even know. Tien, I guess went to your boot camp. Yens and Jason, I mean, we’ve literally created tens of millions of dollars of wealth for all my investors and my partners because I followed the warrior program, had a fantastic coach, and I knew a lot of it already but there’s so much that was so helpful. I don’t know maybe you do realize but you’ve personally created tens of millions of dollars of wealth for these people that have taken your program and I really appreciate it.
Rod: No, thank you buddy. That’s very kind of you to say that and that’s why I do what I do. I’m absolutely, absolutely love it. I mean, if it was just about the money I would focus on acquisitions but it’s not.
Mark: Yeah. I love hearing stuff like that all the time man. And if we could, I actually want to jump back and zoom out on your story a little bit if we could because I know you zoomed in on December of last year closing on three deals obviously there, how many doors roughly was that by the way?
Sam: Let’s see. 160 in El Paso, 127 in Dallas, and 104 in Cleveland.
Mark: Okay. So almost 400 then, it sounds like.
Mark: So that’s about half, if not over half of that total GP portfolio that you mentioned earlier, is that right?
Mark: Okay. Now, the reason why I wanted to kind of zoom out a little bit is because a big question that I always get especially when people are reaching out for help is, Hey, how quickly do your warriors get deals done? How long does it take to get your first deal done? And I always try and tell them, Hey, you’re looking at this the wrong way. If you could zoom out a little bit for us and tell us kind of the full picture of I guess when you got started to what you did to get in a position to close on, you know, 400 doors pretty much in one month. What did it take to going up until that?
Sam: Well, I started, I mean, I’ve been doing big deals since 2015-2016. You know, $100 million development deals, $50 million development deals. But as far as multifamily goes and when I started in the warrior program that was August of 2018. And let’s see, in 2019, I jumped in on the due diligence and everything for the Sunset Terrace, Dallas deal with Rod and Robert. And so, I was a minority partner but still, you know, partner on that deal and that is by far the best way for anybody to learn this business. If you are willing to put in some work like Tien, she jumped in on the Albuquerque deal with us. She put in a huge amount of work. We made her a partner and she didn’t raise any money but she didn’t need to. We had the money so, you know, that was the first deal I worked on. And then after that it was, we bought the hotel. So that was a year, that was over a year. So the first one was within the first year with Rod and Robert, then it was over a year until we did our own deal which was crazy, the hotel. And then we worked on Cincinnati with Rod and Robert again where we raised a lot more money. We flew out and did a ton of due diligence and played a bigger role in that one which was a lot of fun.
Rod: I remember meeting at that asset. You brought, in fact, I’ve got this memory because I don’t remember much but I remember food. Listen, listen to what he brought me. He brought me this this chicken sandwich that had, a donut chicken sandwich, had glazed donuts with fried chicken. Oh my god, I mean, I can still remember the taste of that thing.
Sam: You where both a greasy mess.
Rod: Oh my god. It was–
Mark: It sound like a fair food right there.
Rod: It was so … Anyway, sorry I digress. I digress, sorry.
Sam: Oh, yeah. I mean, and then Covid hit. So that’s kind of a hard answer because we were ready to take down multiple properties with Rod and Robert and on our own that we backed out of because of Covid, because of the shutdown. And so, we waited another six months until we really started looking hard again. So, it was really over a two year process of connecting with investors, working on deals as a small minority partner with Rod and Robert. But if you take Tien’s experience, I mean, she jumped in. She brought a deal to us and she was a partner just like that. I mean, it can happen very, very fast and that’s why I tell people don’t try to do this on your own. Find a really, really good partnership who you can work well with. There’s so many people that if you find the deal, I mean, deals are king. If you find that deal, there’s plenty of great partners like Rod and Robert to partner with.
Rod: Or other warriors as well.
Sam: Yeah, or other warrior.
Rod: They’re approaching 40,000 doors. They might have exceeded it now and most of them are between warriors. I mean, that’s just– I mean, it’s incredible. So let me ask you another question. You know, what do you think it takes to become a full-time multifamily investor like you have? What are the qualities that someone needs to embody or the direction that they need to go?
yeah that’s a really good question and probably going to go back to tien my partner as a good example of this you know, you don’t have to quit your job I think she did and but she had a really good investments already paying the bills I didn’t quit my job she did we’re both looking at deals consistently so I would say what you have to do is time block and set aside time to work on this consistently because it’s not something you can spend time on every saturday four times a month you know, if even if it’s just 15 20 minutes a day you do have to spend time on it consistently find deals find people find the right partners but I i feel like people get really excited at the beginning and they’re maybe not disciplined with their time so get very very disciplined with your time and and dedicate time for the next six months even if it’s just 15 minutes a night even if you’re very very busy everyone has 15 minutes where they can learn the business learn how to underwrite learn how to find deals and stick to the warrior program or or whatever, you know, you’re working on and and do it do it consistently that’s it yeah yeah so so any aha moments for you any anything that comes to mind when I ask that question any any like epiphany moments as it relates to your just, you know, what I don’t want to even direct that that any further than that anything come to mind when when I ask that question yeah, you know, and this might be good for some new people to hear I was very nervous about raising money and doing deals and and I wanted it to be perfect and we found a really good deal and I was very nervous about making sure I could raise all that money on my own and
we ended up way over subscribing it like by double and that was my aha moment I was like well dang this this deal is really good my partners are amazing we made this look very professional and it was a fantastic deal we were very conservative with the numbers and I think what you need to understand is there’s so much money out there looking for a place where they can trust and invest and if you just go out there and find the deal find the right deal on the right partnerships money’s out there and and money will never be a problem if you have the right deals and the right partnerships oh that’s that’s great advice and by the way so you guys understand what he means by over subscribe, you know, when you’re raising money on a deal you we always, you know, we tell our warriors make sure you you you have people commit to more than you need because you’ll have fallout and usually it’s 25 30 so you went double and and and let me tell you certainly there are people that were disappointed I’m sure in that group but I can tell you when you do that and you tell them hey, you know, first in first served you’ve got to get your money in right away and then and then when you cut it off and they can’t put their money in guess who’s first in line when you do the next deal right so it’s not a necessarily a bad thing when that happens but you always over subscribe because you’ll have people that have stuff come up or change their mind or whatever and and the worst thing in the world is to have, you know, need it not have it so that’s that’s that’s a well listen brother listen you’ve been a a a a wealth of of information here and and really appreciate you taking the time to come on here I know you’re busy, you know, with with these new acquisitions getting things together you’re in the asset management phase and I know you’re looking at deals like crazy and I would have to say you say you’re looking at 100 150 to find one I mean we’re looking at probably two to three to find one right now so I’m sure yeah it’s it’s a lot but it’s great to see your brother great to have you on the show and and long overdue, you know, we should have done this a long time ago but anyway congratulations on your continued success my friend no thank you and and thanks for everything you do for us I’m excited to see you again at the at the mastermind group yep yep yep coming soon all right take it having Sam thanks guys