Latest / The Commercial Builders’ Network (TCBN) / Commercial Real Estate Financing Explained | Bridge Loans, SBA Loans & Private Lending (Part 2)

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Commercial Real Estate Financing Explained | Bridge Loans, SBA Loans & Private Lending (Part 2) · The Commercial Builders’ Network (TCBN)

• speaker-0: A lot of investors are not working with professionals. First thing I would look at is location. And I'll give you this in order. ⁓ I call it loc ⁓ LPP. Location, the property, and then the person. Real estate is not, nor will it ever be, a get rich quick scheme. Right? It's not a get rich quick endeavor. It's get it's get comfortable slowly. speaker-1: This is the Commercial Builders Network where trust is restored, power is reclaimed, and legacy is built. Let's get to work. Yeah, I appreciate ⁓ the the explanation. ⁓ so I want to kind of walk through a couple of like scenario real life scenario based to see because I know you have a lot of products that you offer, to just see what type of ways that I guess you would fund the deal. So say that you have maybe a sm a person that's an investor who has a small commercial building, whether it's an office space or a warehouse of sorts, right? And they it needs to be rehabbed, needs some upgrades before they either rent it out or sell it. W what's the first kind of thing that you will look at to get them the funding to make that project happen? speaker-0: First thing I would look at is location. And I'll give you this in order. ⁓ I call it loc ⁓ LPP. Location, the property, and then the person. Location, the property, and person. I would look at the location. I would look at the location. Is it in an a major city? If it's not in a major city, ⁓ is it in a suburb suburb suburbia suburban area or is it in a rural area? That makes a difference. ⁓ that affects financing on so many levels. ⁓ where is the location. Then from a macroeconomic perspective, I'd wanna see are people migrating to that particular location. On a microeconomic perspective, I want to understand what's the intended what type of what's the demographic of the folks in the location. So there's a lot of questions that will come from the location. But that was the very first thing I'm taking a look at. Next thing I'm gonna look at is the property. ⁓ well actually before that I'm gonna look at the person. In our world as you already know, ⁓ we call it the sponsor. Who is the sponsor? What is their experience level? ⁓ you know, have they done this before? Although they may own this property, ⁓ are they brand new or have they done this before? Because that also affects how we look at certain deals. ⁓ what's their financial strength? ⁓ we look at net worth, we look at liquidity, we look at ⁓ in some cases their credit. ⁓ so we're gonna take all that into plus generation. Then of course we're gonna take a look at the property. We're gonna look at how well the property is cash flowing, if it's cash flowing at all. ⁓ we're gonna take a look at how old the property is. Obviously it needs renovations, as you already stated. ⁓ we're gonna look at what will the property generate ⁓ as far as revenue in the next three to five years. What will it look like when it's stabilized? ⁓ and so on something like that, if it's not generating revenue, that's an automatic candidate for a bridge loan. If it's generating revenue, then we also can look at like a permanent debt. And there's many different loan products that take that. But there's there's there's a lot of variables. ⁓ I'm not trying to be evasive to your question, but there's a lot of variables that play into the type of loan that ⁓ something like that would need. ⁓ so if it's not generating revenue, automatically a bridge loan, ⁓ because it's gonna be difficult to finance that ⁓ with any with permanent debt. ⁓ if it is generating revenue, then obviously we wanna understand how much. And then we'd also take a look at is this an investment owned property or is this an owner-occupied property? That is one of the biggest differences between to show some folks how to get financing. ⁓ if it's an investment owned property, ⁓ all that means is that the owner is using that building ⁓ and they have they are not they are not utilizing the building for in a business business ⁓ operation or a company that they own or control. They're just leasing out every single space in that building. There it's an investment. Compare that to an owner-occupied building to whereas the owner's occupying, the owner's business is occupying 51% or more of that space. Now there's opportunities for an SBA loan, whether it's an SBA seven A or whether it's SBA 504. There's just opportunities there. There's different scenarios. So there's a lot of questions that we would want to understand as to how that works. So therefore we can structure the the most appropriate f financing for that project. speaker-1: Awesome. That's funny. You actually went into my next scenario, which was if it is actually occupied and has tenants. So before I move on to the next scenario, ⁓ I did have a question in reference to you stating that if the person is new, do you guys give opportunities for people who are new investors? And if not, what should they do to be considered? speaker-0: Yes, we do. But it also depends on what type of project they're getting into. If on the residential real estate, and this is why I make a very clear delineation between the residential and the commercial. On the residential side, if they're a brand new investor, ⁓ we finance new investors for all ⁓ residential real estate investment products. So if a residential real estate investor wants to go out and do ⁓ and I know we're talking about commercial real estate, but ⁓ just want to kind of give you like the difference. If they're looking to go do like a single family renovation, single family new construction, single family ⁓ fixing ⁓ rental, that is fine. On the commercial side, it's a little different. On the commercial side, we've will finance brand new investors. However, now we're gonna piggyback on their net worth. We're gonna look at their credit, we're gonna take a look at other things that make us feel comfortable making this loan for them. ⁓ so it really depends on the asset type. So in the commercial world, we've got the six types of commercial. You've got the office. retail, multifamily industrial. And then of course you've got hospitality and special use. So someone who is looking to acquire a 20 unit apartment complex, so let's say 30 unit apartment complex and they're brand new, that may be a little bit of a challenge because we want to see that they have history operating a specific that a building of that type in some form or fashion. ⁓ Or we'd want to know that they have ⁓ other real estate that shows us that they've been able to do that. ⁓ so when you get into commercial real estate, experience does play a humongous factor. ⁓ if you do not have experience, but you got a strong balance sheet, because you have to have what two of the three. You gotta have a strong balance sheet or you gotta have experience. We prefer that you have both. ⁓ and of course, credit in our world, we just make the assumption that credit is gonna be people are gonna have decent credit because they're doing bigger projects. ⁓ but you have to have those things in place. Now, if you do not have the required experience. The beautiful thing about commercial real estate is we are open because you're buying these properties in some type of entity. You can add people to your are stronger sponsors to your borrowing entity that gives us comfort in making that pro making that loan for you. ⁓ many times folks will say, Well, I don't have ⁓ this experience. Well, do you have a partner who's willing to ⁓ come on board? And this is very, very, very common within the commercial real estate world. ⁓ we look at organizational structures all the time. ⁓ and so many times if that person is willing to sign in many cases for small balanced debt, recourse debt, they're probably gonna have to they're definitely got to sign a personal guarantee, but obviously they're gonna get some equity for that relationship. So if you don't have experience, there's if there's a possibility of us financing it, ⁓ if there's not a lot of operational ⁓ items there are needed. ⁓ but typically we would prefer for that person to have experience and all not just experience, but that's like for like experience. So if you're looking to buy an apartment complex for 50 units, we'd want to know that you have experience operating a property for that has 50 units. ⁓ and similarly, if you're looking to buy a 30,000 square foot industrial building, more than likely we'd want to see that, ⁓ that you have that type of experience or something relevant to that. Something equivalent to that. But if you don't have experience, this is an opportunity for you to go out and get a borrower, what we call a key principle that can kind of piggyback and you can piggyback off of their experience so you can get this deal financed. speaker-1: Awesome. Next scenario is there's a developer that's looking at some land they want to build ⁓ either mixed use property or warehouse something from the ground up. ⁓ What type of financing or what things are you looking at through that process? speaker-0: Very good question. We do this quite a bit. They would want to get an acquisition and development loan. Now, and also this is this is where experience plays a humongous role. Because acquisition and development loans, when you're financing anything with a renovation or ⁓ renovation or construction component, the the risk for that deal increases exponentially. So whenever you bring in development of X If a capital partner, a lender hears development, expect the next couple of questions to really be piggy to really start to the next line of questions to start to be, hey, how experienced is this person? ⁓ if it's a brand new developer that's looking to do something like that, that is going to be extremely difficult. Extremely difficult. Now we have financed brand new developers ⁓ for those type of deals. But the pricing is different and we want them to have an extremely strong balance sheet. A strong balance sheet, we want them to have very strong net worth, very strong liquidity, we want them to have very strong credit. There need to be other factors that make us feel comfortable in financing that project. But that is definitely an acquisition and development loan. We would finance the ⁓ acquisition of the pro of the land. ⁓ we would give provide financing for the horizontal development, essentially ⁓ putting in the streets, roads. ⁓ and t getting the property entitled. Then we would also pr ⁓ provide financing for the vertical developments. These are these are fancy ways of saying we're gonna fund the infrastructure and we're gonna fund the ⁓ the ⁓ the the the the building of the ⁓ units that are gonna be ultimately sold to retail bot borrowers, ⁓ to retail buyers. speaker-1: Last scenario is a investor who already owns multiple different pieces of property and they're looking to access some capital to do some future projects. Is a line of credit the best option? If so, how should they how can they access that or what what opportunities or things that you guys could help them to get that? speaker-0: So there's no wrong answer. It's just good better invest. And rather that good better invest is really based off of that developers or that ⁓ that investors, what they're trying to accomplish. ⁓ they could get a lot of credit. However, one of the things we always recommend, ⁓ you know, there's a there's a loan product called a portfolio loan. And so we do these quite a bit. So all that means is if an investor owns 30 properties. And they have minimal debt on those properties. But now they want to ⁓ try to extract some of the equity out of those properties for some type of future endeavor, ⁓ specifically maybe another real estate project. ⁓ they can take a loan against the entire value of all those properties and they'll get obviously a lump sum of cash. They'll get a fairly attractive interest rate because the interest rates are gonna be these are bigger loans. ⁓ they can use that cash to go out and buy whatever they wanna buy or hopefully it's it's ⁓ It's it's hopefully it's that item. Or or they can go out and get a line of credit, which we can offer as well. The line of credit is a little more the line of credit is going to be based r a l a lot against not just the property, the let me ref go back. The portfolio loan with we still do not need tax returns, income verification, employment verification. When you start getting into the world of lines of credit, that's when you're going to need a strong balance sheet. Also, you're going to need to be able to show strong financials, strong tax returns, strong ⁓ income verification. You're going to have to show in some cases not necessarily employment verification, but you're going to have to show ⁓ more of that because that is a riskier type of loan product for a bank, that line of credit. Now, ⁓ it can definitely be done, but it just depends on how strong that investor is and how much information how much ⁓ are they willing to provide? speaker-1: Now, with your history of over a billion dollars and projects done, what is the biggest mistake that you've seen that happens more often than not ⁓ with with investors who are choosing their financing over these deals? speaker-0: Very good question. ⁓ a lot of investors are not working with professionals. They're ⁓ they're not well, when I say that, let me let me explain to you why I say that. I don't think investors do enough vetting on who they're working with when they're doing these type of projects. A lot of times investors will go directly to like their local bank and they'll go to they'll do a Google search, which is fine. You know, Google's here for a reason, been around since nineteen ninety seven. Shout out to Larry and Sergey. ⁓ those are the owners of Google, well the founders of Google. ⁓ however, I think it's best to kind of hire somebody or work with someone who has the expertise in that particular market who can speak to, kind of act as an intermediary and advocate on your behalf because a lot of investors don't know what they don't know. ⁓ some investors I've I've had conversations with some investors that don't know what a basis point is. ⁓ I mean not to knock anyone, but if you're an investor, that is one of the things that you're really gonna want to understand. ⁓ you know, they don't necessarily know how banks underwrite. They don't understand that there is something called a credit committee with the bank. And so even though the person that your banker may tell you that this deal is gonna go through, but then they may sh they may ch they may mention that it goes through a credit committee and you may not be positioning yourself to get cleared through a credit committee. Now if that if your package, if your ⁓ submission is not perfect, I wouldn't say perfect, but if it's not very strong It may not pass credit committee. So now you've just spent a ton of time not being able to submit it through get it through credit committee. ⁓ and just really having conversations with folks that are in this space. ⁓ many times people get their education, unfortunately, no knock on YouTube, but they get educated on platforms like YouTube for people who are not necessarily they're more so they are they are they are romanticizing this process as opposed to sharing with you. what it actually takes to get these type of projects completed. ⁓ you know, so I would also just make certain that people really understand what they're getting themselves into and not being able to understand which loan products are going be the best for them. Some folks are so fixated on getting the absolute lowest rate when they really should be fixated on making sure that they get the best structure. Now hopefully the best structure does get you a very attractive rate, then it may not necessarily all bit get you the best struct the best structure may not be able to get you the best rate. ⁓ But this you these are the conversations that a lot of investors need to have. And many times they tend to have them too late once they're in the deal. And so this is one of the things that we like to do, just really educate folks as to how to get the best structure. Hopefully it leads and the best structure is in many cases should lead to the b prop, in my opinion, the best outcome. But it may not necessarily be the best rate. And to give you an example, if someone sits here ⁓ specifically on the commercial real estate side, ⁓ you're getting a ⁓ a loan that has a lower interest rate. ⁓ however you may have a longer you may have a shorter loan term. I'm sorry, you have a shorter loan term and you have a shorter amortization period. So if you have a shorter loan term, you have a shorter amortization period, well your payments are technically going to be higher. Now the better structure, and again I'm just giving an example, a better structure would be of interest rate that's a tad higher, but you have a longer loan term and you have a longer amortization period. So therefore your payments could be effectively lower. And so some investors, business owners, developers need to be educated as to how that works because many people are just focused fixated on certain things where they need to kind of see the entire picture as opposed to just one piece of it. speaker-1: And it's interesting that you say romanticizing the process because that's exactly what the commercial builders network is about, is actually getting real stories. That's why I'm very selective about the guests that I bring on. Because when it comes to speaking to building trust, I want people who have not only had stories of their successes. But when times got tough and you guys still kept going, because the truth of the matter is this isn't a get rich quick scheme. You're not gonna be rich overnight. And I fell victim to that when I first moved to Atlanta. Like I was around all these black, wealthy people and people doing their thing and you hear, ⁓ if I knew that at your age and I'm thinking I'm gonna be rich tomorrow and boy, I'm still going through trying to figure out, you know, which angle but now I found my love. And it's like start there. So With all these people on social media who are these gurules of finance and how you can get all these pieces of credit cards and you can get a LLC and fifty thousand dollars tomorrow. Can let's get let's speak to the truth of ⁓ what it is behind financing 'cause those people frustrate me. I'm like, you guys are trying to put people in a bunch of debt who already don't have anything and gonna have to scrape themselves out of it if they do get the financing without the proper planning. So what is it in your message? to those people who see these things and say, Okay, this is how you should really prepare to get financing. speaker-0: Yeah, so I'm a big believer. Look at the background of the persons you're working with. ⁓ you know, I ⁓ I'm not really on social media a lot. I don't really get on Instagram. I may look at Facebook just to connect with family and friends and you know, it's some funny stuff on there every now and then. But the one platform that I really do love is LinkedIn. ⁓ and I'm not gonna say LinkedIn is perfect, but as it relates to business, if you're s if someone's selling you a financial product or giving you financial instruments or sharing with you financial information. I just go to their LinkedIn and see what they've done. Now many times and they may not have a LinkedIn and that's okay. But I really want to understand who am I getting this information from? You know, and what exactly is their background? Like w what school do they go to if they went to school? No knock if they didn't. That's not an issue. Where did they work? Did they work for some type of financial institution? No knock if they didn't, but hey, if you're selling financial products, where are you getting this information from? w who are they around? What organizations are they attached to? And I think sometimes We tend to get we we tend to be sold off the hype and not necessarily off the we tend to get sold off the sizzle and not really the stake. And so people will tell us the stuff that we want to hear and they make it sound so easy. Real estate is not, nor will it ever be a get rich quick scheme, right? It's not a get rich quick endeavor. It's get it's get comfortable slowly. I don't use want to use the word rich, because I think that's that means different things to different people. So when you get into these spaces, you just want to understand. And I tell folks, do not try to chase the f the the that that rabbit or that carrot that tells you you can go X, what, do this. You know, go slowly. Number one, understand, acquire some skills. You gotta understand you have to have skills. You gotta have soft skills, you gotta have anal anal analytical skills. ⁓ and of course, number two, build those relationships because obviously relationships are kind of what's gonna get you through the tough times. It's what's gonna get you through, allows you to have a business. ⁓ but many times when I'm watching those videos and I have so much to say, but I'm not because I know this is going to be shared. So I'm gonna be key, I'm gonna keep it. ⁓ those platforms are the reason why we created a continuum education class, a CE class for realtors for them to better understand how commercial lending, private lending really works, because there was so much misinformation that they were ⁓ that they were giving. And what that could what happened was you have an ⁓ folks that are not really that educated about this space and they're getting information from folks that are not getting education, not that educated, but they're selling courses. So you've got the blind leading the blind. And now when things happen, you have this turmoil. And what that does, and people don't see this, that creates a lot of chaos. Chaos in the form of people getting foreclosed on. Chaos in the form of people losing their houses through tax leads. Chaos in the forms of contractors being sol being sued and suing contractors. Chaos in the form of ⁓ you know, friends going friends not having the right agreements in place because they thought that they were supposed to get a certain return. Chaos in the form of people thinking that they're gonna get a thirty percent return in a year on a real estate transaction when that doesn't happen. So those those and again, I'm trying to be light here. But those ⁓ YouTube videos that do that and that provide that type of misinformation, they create chaos. Now, there are a lot of great YouTube YouTubers who speak ⁓ who are very knowledgeable about ⁓ real estate investing and real estate finance. But I I just implore you and I beg folks to just look at the background of the people that you're getting information from. And by being able to understand where that information is coming from, who you get information from that will allow you to kind of make better decisions because you're gonna have better information. And if you have better decisions from the better information, that's gonna allow you to obviously generate better results, which would allow you to be more profitable. speaker-1: For many entrepreneurs, ⁓ it has been known that there has been a capital barrier for people that look like us. What is different about what you provide and and how do you create opportunities for people that seem to be underserved? speaker-0: Very good question. ⁓ there definitely is some there we have a lot of challenges. ⁓ and we we've been and I say we, I mean people who look like us. ⁓ however, and we we have to remember that admittedly our wealth lasts seventy years, ⁓ compared to other folks who've been here who've been here in some cases just as long, four hundred. So they have maybe seven six to seven six to seven times years as to the wealth that they can create to the wealth that we can create. and there are challenges, right? You've got certain programs, there are certain restrictions, there are humans have their own biases, especially when you're in certain financial institutions, let's be brutally honest. ⁓ we've had some clients who do not send over ⁓ IDs until it's absolutely the right time to send the ID. We've had some scenarios where appraisals have come in significantly lower, even on the commercial real estate side, because they're in certain neighborhoods. We've had some capital partners and the they will not name themselves and I won't name them on this call, but they know who they are who have redlined entire neighborhoods. They've redlined entire zip codes. Now their logic is well, we're redlining these because of crime statistics. And I get that. That's a fair argument, right? ⁓ but obviously there's other things that they are using to kind of make those determinations. So I get that there are challenges that our community face faces, has faced, currently faces, and let's be honest, we'll probably be facing for a long time. ⁓ that said, I'm a big believer in making certain that our folks and everybody who does come work there, no matter what color you look like, they are put to put in the right position. Meaning that they're presented in the best light. We are your advocates. That's one of the reasons why folks will come to us. And one of my biggest compliments is when folks come back to us because obviously that says that we did a good job the first time in the Beaker compliment if you've been working with the same folks for the last decade. So but we have to know how to present well as well. ⁓ now conversely, we do have some challenges in our own community which are internal. Sometimes when someone says they can't get on for a bank, I was asked, so what happened? ⁓ you know, well, they just did give it give it to me because I was black. Okay. ⁓ that's your experience. I can't debate that. But then I start asking some fact finding questions. So did you have your tax returns in place? No. ⁓ did you have your what was your credit score? Well, it's about a six two twenty. Okay. Did you how much little cash do you have? ⁓ I'm working on that. So, you know, y y you you you gotta be in the right position. to get certain loan products. They're not just going to give money away. And so there is definitely ⁓ access to capital problems in our community. But the way that we combat that is by being able to present as best as we can. Now if we present as best as we can and we have the tax returns, we've got the bank account statements, we've got the experience, we've got the we've got the necessary ⁓ the we've got the credit ratings. Now, if they reject you based off of that, now that is a systemic issue that needs to be addressed, needs to be addressed and hit hard. But if you're not presenting the right way, and if you're not presenting this information, because this is a loan, think about it. And I always tell people when you go for a loan, when you apply for a loan or submit for a loan request, what are you really doing? You're giving the bank or their financial institution a couple of documents, obviously access to certain items. And they're return in return, they're going to give you hundreds of thousands, if not in our c in the commercial real estate space, millions of dollars. To me, that's a good exchange of good goods and values and services. So if anything, let's make certain that we're presenting as best as we possibly can present. Well, let's make certain we have a strong executive summary when we put that together. Let's make certain that we if it's multi-anything, we've got our rent roles in place, we've got our profit and loss savings in place, we've got our T twelves in place. Let's make certain that we have these things in place and then let's present it to the capital, to to the financial institution. ⁓ but I will never say that there there is definitely and there will always I'm once I I hope to not use that word always, but there has always been and there currently is. Hopefully someday in the future things will be a little more fair. But as it relates to as it states now, as it stands now, we have to make certain that we're presenting our opportunities ⁓ in the best light. And so this is one of the reasons we always tell our clients, that's why they come to us. If they're packaged incorrectly and we see that this is not going to work, this is going to work, you need a letter of explanation for this. You've got to have this this it's never going to pass credit committee because that's what we're always thinking about. How does it pass credit committee? Forget your loan officer. Think about the credit committee. They're the people who really check off the boxes. They're the people who get the who who will say who would give your ten million dollar development deal ⁓ the green light for it to close. That's who you're really ⁓ trying to obtain the green light from. speaker-1: Me with this platform, again, it's not just about seeking opportunities. Yes, we do off identify that there is a lack of representation, but I also in the same note love the fact that we have to hold each other accountable for showing up and showing up correctly. And ⁓ I had done an interview with the gentleman from ⁓ because another thing I will bring on people who actually give bid opportunities. And I'm like, what is it on these applications that we're not doing? What is it that we're missing that's keeping us from the opportunity, not because of our color, but because of lack of knowledge of what's needed and things that we're cutting corners with just to get something done and say I have a business. ⁓ 'cause a lot of people who have b these businesses aren't structured properly, don't receive the pair of paperwork, are trying to save on taxes, but because they're trying to save on taxes, they're not looking like they're fundable. So combating that and like saying, no, you have to if you want to play ball, you have got to get your paperwork together. So I love that you have the educational side. At what point should they become ⁓ in contact with someone like you who has a program in education? What stage should they come in to to learn? speaker-0: We would want them to come in as early as possible. If someone's considering about considering it, ⁓ ask us early as early as possible. I'd rather you understand this before you start to look for projects. Like I'd rather you understand the impact of credit, the impact of liquidity, the impact of a strong partner, the impact of experience. So therefore, when you're going out and and if those things don't dissuade you from moving forward, then move forward. If those things are cut if you see those things as being problematic, then you may not want you may want to wait or just you may not want to have a conversation with us as of yet. Because you're creating a business. You know, I know a lot of people I I'll share this with you. I don't really like your word entrepreneur. I've just never liked that word. I know why people use it. I get it why people use it. You know, it's French, it sounds sexy, entrepreneur. but it what it does Is it romanticizes a very system based process? To me, the real word is business owner. And so that's not as sexy, it's not as glamorous, it's not as pretty as the word entrepreneur, but you are a business owner. And a business owner is essentially an individual who has created systems and processes that yield consistent results for profit. Doesn't sound as sexy as entrepreneur. No knock on the word entrepreneur. I know the French word, they having a glam great time. Creating that word. But people, when they use that word, they tend to forget you are running a business, right? There are systems and processes and KPIs and metrics and that have to be hit every single month. And it has to be consistent. And 90% of the time, it's kind of boring. Like it's not gonna be fun all the time. You know, it's bor it could be boring. And that's okay, right? ⁓ it's okay for it to be boring. But you want consistency. But this is the thing, and this is why I'm not a no knock on Instagram, no knock on Facebook. It's always fun over there. It's like a big party. Every time I go to Instagram, it's like a big party. It's a it's like a never ending party. ⁓ but that's fine. But I just tell folks, treat this like a business and I guarantee it will reward you like one tenfold. If you treat it like a hobby or a hustle, you'll have highs and lows. I'd rather just be consistently going north. than just having these major dips. That's not good for your mental health. speaker-1: Absolutely. Absolutely. So, Kenneth, this has been amazing. Do you have a axe from the community? speaker-0: Do I have an ask? That's a very good question. Who has ever asked me that question before? do I have an ask? I just want folks to number one, get educated. And number two, take action. Because if you don't get educated, you don't know what you don't know, and that's going to be costly in the future. And number two, take action, take massive action. There are too many people that live in a future. The future is very, very comfortable. You should live for today and plan for the future. People live in the future. It's very comfortable. You know, you everyone is a multimillionaire in the future. They're a billionaire in the future. They're driving the best of cars and they're driving the they're going to the best vacations because of the future. It hasn't happened yet. They haven't dealt with it as of yet. Take as massive action as possible, even if you fail, that's a lesson. But get educated about what you're looking to do and take massive action. Get educated. Let me add another one. Get educated. Put together a plan and then take massive action against for that plan. Right? And then once you start to do those things, you'd be surprised how the universe and gods are gonna come together and they may help you get to where you're looking to go. But if you don't get educated, you can't really create a good plan. And if you have a plan that you don't ever implement, then you just wasted all this time getting educated and putting the plan together. So I was just tell people get educated, create a plan, take massive action. And then repeat the process. That's my aspect of the community. speaker-1: I love it. How can we contact you and get some service from you at Baker Collins? speaker-0: ⁓ you can go to our website. I'm on LinkedIn heavy. So just find me on LinkedIn. ⁓ like 30 pounds lighter. ⁓ but I've got a yeah, just ⁓ and you can always go to our website. But I'm my big platform is LinkedIn. I love LinkedIn ⁓ for so many reasons. ⁓ I'm constantly, you know, making really good connections there. Our team is making really good connections. And also it I love it because we're also getting educated from people who we can very quickly figure out if they're even if we even want if their information is even valid, like, you know, where are they getting this information from? ⁓ I just think it's a s resource that ⁓ a lot of us don't really utilize as much as we really should. You know, we think LinkedIn, we think ⁓ it's yes, it is profess it has a lot of things with to it, but I highly recommend to get more involved and more active on LinkedIn. That's been a really good platform for us and That's where I live. So send me a message on LinkedIn. Connect with me on LinkedIn. ⁓ or you can call our office. ⁓ Baker W W Bak So this is how you can tell my age. I always use the W W W. BakerCollins dot com. You can't call and just ask for Whenever somebody uses a WWW, ⁓ you you you're ⁓ nobody really uses that anymore. But ⁓ yeah, welcome to conversation and ⁓ it's been fun as well. Just understand the problem. speaker-1: Awesome. Thank you. Thank you so much. So many gems. So many gems. Very necessary conversation. Thank you, Kenna. speaker-0: You're very welcome. Thank you for having me. I appreciate it.