Latest / The Investor Shed Podcast / Real Estate Crash?
Transcript
- Nick: Everybody, welcome back to the Investorship Podcast. We are all right that you're delighted to be here. And I've got my co-host right next to me, Jeremy Kitchen. I'm Nick Beverge, and you are going to get an earful today about the real estate market. Nick's mad as hell, and he's not afraid to show it. not. Yeah. No, not that bad. But crash impending question mark. Yeah, a lot of people talking about this. my gosh, the real estate market's gonna crash now. And they are right in some areas of the country. Maybe. I don't know about a crash. A crash is very violent. Yeah. And we're just not seeing the violence. No. When you look at the numbers. Right. Now people these days I feel like are a little dramatic. Okay. You know. And and and th that's all they know. It's like there's a lot of people that have been in the business now for a decade and they don't know a hard market. Right. Yeah. You know what that means? Yeah. You know what I mean by that? Like th there can be investors, agents out there who you would think have a ton of experience. I mean been in the market for like ten years, but they don't know what a crash is. Right. We've been through a crash. Well, yeah, hardly. I mean, we grew up in it. Like right out of high school. Yeah. You know, right out of high school, to a couple years in. Yeah. You know, w two thousand eight came along, two thousand eight, two thousand nine, two thousand ten. Those were some rough years. And I feel like it we're just older now. We're like almost forty. Right. And there's a lot of people that are in real estate that are not quite our age, but all they've experienced are pretty much just good times. Right. And I think they feel like, man, things are tough. There's still like three months of inventory right there. Things are things are moving along just fine. Yeah. you maybe have to work harder. but yeah, I just want wanna get your thoughts and opinions because there's been so much rumbling this last month or so. Yeah. Of just how difficult the real estate market has been. Yeah. What do you think? I I think it can be difficult for some people, yes. I I think you know, I I haven't bought nearly as much real estate as you. I've I've bought a couple partnerships, we bought our house, and and we said on the last episode too, like you buy when it makes sense. If it doesn't make sense, don't buy. I don't know what to tell you. We're there. you you see these waves in real estate, and it feels like every fall this happens. Yeah. To be honest with you, like it it does feel like every fall people are like, Whoa, things are falling in the fall. Yeah. Well, go figure. Yeah. And it just it's it feels like it's part of the cycle cycle market, you know. Yeah. I've got some I've got some interesting numbers to back up what people are saying. Okay, so a lot of this noise is coming out of the Spokane market. And they do have valid points because things s may seem like they are falling. And things in the Spokane market, you know, their medium household price. Mm-hmm. It did go down by about two point seven percent this year. Okay. and it's down about four hundred and eighteen thousand dollars for the medium home there. That's crazy. Down about four two you know, two point seven percent. That's crazy. Their sales are down three point five percent from the same time last year in August. Okay. At the end of August. We have numbers for August. We're in September now, but these are official numbers for August. so their sales are down three point five percent. Whoopde do. Whoop Whoopde doo, yeah, yeah. But yeah. Yeah. So things they they may feel like my gosh. What a crash. Now are these now numbers just down from last year or are they down like year over year in a trail? So the first number I gave you is a year year over year. Okay. You know. the last number I gave you was comparing August of twenty five to August of twenty six. Got it. Okay, cool. so the Thank you for the context on that. Exactly. Yeah. Yeah. And I and we do have visuals here. we got some visuals we can get into later. Okay. but here's yeah the spoke hand but that's okay. so in August they had four hundred and ninety one sales down two point seven percent year to date, almost four thousand sales and it's up four point nine percent. Incredible. So year to date, Spokane, you guys are up almost five percent for sales. Yeah. But you're down two percent for what August should have yes, aug August numbers. Yeah, August numbers are down a little bit. my god. Yeah. Does that make sense? Yeah. your months of inventory. Your months of supply? Three point five or sorry, three point two months. Okay. In Spokane. So you still, you know, if for those who haven't heard my analogy, I always use this one because I think it's the best to visualize. Picture going into a grocery store and you're looking on the you're you're in an aisle and you see all the shelves, you picture six shelves. you know, three on each side. if the shells shelves are all full of food, you've got a balanced market. Right. you know, enough food for the supply of people coming in and out. Sure. if half of the shelves are missing food, you have a supply issue. Right. You have more people buying than you have the availability to stock up and sell. Sure. so in the spoken market where things are looking brutal, you still have a shortage of inventory, which you know, keeps demand in check. Yeah. And prices in check. So prices have been dripping dri dropping a little bit. but you still have that, you know, thing holding things together, the the short inventory. Right. Now if they had more of a normal inventory of, you know, f between five and seven shelves full, and that's months of inventory, then things would still be like historically where they should be. Sure. But they're still you're still tight on inventory. Right. the list the sale to list price ratio, so the the negotiations on average that people are getting in Spokane, they're getting a discount of not even two percent. They're ninety eight point seven percent is the average price of what what things were listed for and then what they sold for. Okay. Yeah. So people are still not even getting a big discount. Right. Now this doesn't include concessions, which concessions are up. Got it. Across the board. You can track This a harder number to track. Yeah. So I can track him as an agent in the MLS of Kootenie County, which we'll do maybe on another episode. Sure. But I do gotta tell you, these numbers are a little bit deceiving because across the board around the country, concessions, sellers are making big concessions. Yeah. so let's not, you know, forget about that. Right. So so people are still motivated, in quotes. And and giving buyers a little bit more fruit. and then here's here's an interesting thing. Short sales and REOs, those are up a hundred and fifty percent year to date. What are REOs again? that's bank owned inventory. Yeah, okay, yeah. so there's been more in the city of Spokane distress sales this this last year. Yeah, up quite a bit. but it's still it's still kind of a smaller number. so these are things that like the bank obviously takes back possession of and then tries to sell just real quick. Yeah. So an REO is when the bank has already foreclosed and they've gotten the property. It didn't sell at auction to anybody but the bank ended up getting it. And now that it's sitting on the bank's inventory and then they've listed it with a realtor. Sure. So that's an REO. It's a it's a it's a bank owned inventory. so it's not not not a foreclosure. It's it's been through foreclosure already. And now it's just sitting on the bank's Inventory. Got it. Yeah. Okay. and then short sales, for those that don't know, that's when people are trying to sell their home on the market. And they either they're they are marketing for less than what they owe. or they're under contract for less than what they owe. Yeah. With a buyer and they're trying to get the bank to approve the sale. Got it. and there's a deficiency there that they're gonna have to make up. at some point have either have a judgment or maybe they can get it waived. Yeah. those there was a what when I first got into real estate, tons of short sales. It was more than half the market. Right. It was short sales and REOs when I got into real estate in Florida in twenty eleven. Yeah. so I'm very familiar with those. And at the time there was so much forgiveness for short sales. Almost everybody was not everybody but almost everybody was getting their deficiencies forgiven on the spot. Got it. Which is kind cool. That that's kind of cool. That's not a thing anymore. Yeah. it can be, but it's it's not to be expected. Right. Yeah. Interesting. Does that make sense or do you have any questions? No, yeah, that makes sense. and a short sell is not a long it's not a short process. Right. it the reason why they call it a short sell is because you're you're selling a property short of what you owe on the mortgage. Right. And that's the name there. they really should call it a a a long if ever sale. Very long because they're drawing a long time for the banks to respond. Banks don't work quickly like things. well let's apply and you almost have to apply like you're applying for a loan. Right. to see if they'll get the short sale done. And then you have to wait, you know, it could take ninety days to or to two years. Yeah. And there's not a lot of like obviously we're talking about spoke hand marker right now. There's not a lot of these in like North Idaho. You would assume. Not not a ton. Later I can pull up and show you what actually how many you know, distress sales there are in in our cu in our county. There's not a lot. but here's if you are a real estate agent in Idaho, North Idaho, or a seller in North Idaho, or an investor in North Idaho, here's what's going on here. And this could be good news. This could be like more of the same. Right. it doesn't it it really doesn't matter. This is just what's going on. it's a different story for everybody, but prices are up. Sales have gone up. Okay. Everything's gone up. Yeah. Yeah. So in August, the medium sales price is up to up another seven percent to six hundred and seventeen thousand dollars. Wow. That is nuts. Year to date. we've had year to date sales in Cooney County, seventeen hundred and fifty. That is up seven percent. Up seven percent in prices and sales. Yeah. Inventory. inventory, yeah, yeah. Inventory, eleven hundred active, it's down five percent year over year. Mm-hmm. When your inventory goes down, demand goes up. So we have less to sell, more people want it. we have three months of inventory, so instead of the three point two. Yeah. That in Spokane. Our days on market. they've been trending up the last year or so. What am I noticed? Lately they're trending down now. so days on market on average fifty-one down from sixty-two last year. Nice. now that varies. That's the overall picture. Now if you wanna, you know, if you're looking at a flip, you're gonna want to look at not this overall picture, but look at that sub market. Like if you're selling a nine hundred thousand dollar home, that could be wildly different, right? Depending on where it is. But this is just a broad overview. yeah, the broad overview. shouldn't matter as much, but it should just kind of give you a temperature of where our market is. For sure. and right now we have five hundred and ninety homes pending. Quite a bit. So the the headline is that there's almost a two hundred thousand dollar difference in the medium sales price. That's pretty wild. I didn't know there was two counties that you know, twenty minutes away. I I I in my head, like I haven't like really looked at like real estate market in the last yeah, what feels like year or so. In my head, like houses in like Corlaine Rathroom postfalls are still like four fifty and houses in Spokane are still like three hundred. Yeah. But that's not the case anymore. Obviously everything is appreciated and as it should, typically anyway. Mm-hmm. Crazy. Yeah, it's kinda nuts, huh? Yeah. so got a visual here. I don't know we need it, but this might have been easier to look at. Maybe we can share this. I'll share my screen here for those that are watching. But yeah, let me do this. how's your day been, Jeremy? People wanna know. People wanna know exactly at nine in the morning how my day's been, like how's your week been? Sorry, that's what I meant to say. I had a little bit of downtime this week. It's been nice. I went to the gym three times. That felt good. Whoa, no way. Yeah. I was gonna go today, but it's closed. I don't know if you know that. What's it closed for? they're adding new equipment at Planet Fitness. You. You. I mean I hate when they're closed. Yeah. But are they closed just for the day? I think until tomorrow. They actually do need like to fix a lot of their equipment. Yeah. I think that's what they're doing. Okay. All right. Take a look, guys. Here's here's some here's that number and a snapshot that Grok made for us. but again, Kooteny County. the August closed sales, this is I don't think we talked about this, but this last month, the August closed sales are up fourteen percent year over year. So comparing last August of twenty twenty five in Kooteny County, to this August, up fourteen percent. That's pretty significant. Yeah. year to date sales. Okay, we already talked about that. over here. yeah, we talked about that. We talked about how in Spokane, but they actually do have year to date sales is up by almost five percent. Yeah. so things are like kind of slowing down over there, but it's not as it's not as tragic as I think most people are making it out to be. Right. that's just my opinion. Yeah. But like when you get these like fear stories of you know the market crashing and stuff, people tend to follow those trends because someone's telling them that and it can lead to panic buying or selling. Yeah. I don't know. It's what do you what do you think of a market when it's crashing? What what what does Nick Beverage do? during a r like a a falling market? Other than grab one of my AI agents and start talking and having a discussion about it. Yeah. I don't I I just do what I always do. I mean I I so I've been I don't I don't really it doesn't do much for me at all, but just be like, huh, okay. This is where things are kinda trending right now for the moment. Yeah. this is what you know, it seems like emotions drive the economy and and emotions do drive the housing market too, because people always it's it's all driven off buyers, right. Mostly. Are buyers buying or or right now or are they gonna wait? And if they feel scared, they're gonna wait. Yep. And if they catch on to this fear enough, they're gonna wait. So things will slow down maybe. but there's still the way I actually look at it is just like, well, there's been three hundred and ninety sales in Cooney County in the last month. Right. how many of those do I want to participate in next month? Yeah. Cause there's probably gonna be three hundred or more. What if there's only fourteen? Yeah. And the market's down ninety-six percent. What if? I mean, then I'll be a part of that. Yeah. The fourteen. Maybe I'll sell one of those houses. Like I'm still just you just gotta talk to enough people. You gotta look at enough deals. you gotta not so much worry about what the market's doing, but be very concerned if you're flipping houses. Yeah. no, if you're if you're going to buy a property and rent it out, get an idea of what the rental market's like, if you're gonna have to be super competitive or not, if it's gonna cash flow. you gotta be aware of these things, but I don't think it should scare you out of business. Right. I think it should just just be more aware of what what is that force and and take advantage of people being scared. I saw a deal yesterday come through from one of the wholesalers. it's a pretty sweet looking property in Wolf the Wolfge area. Yeah. On ten acres, big home, over three thousand square feet, beautiful home. Yeah. With Two nice shops. It's got asphalt. It's got a gated entry with like a wolf little symbol on it, which is cool. Yeah. It's got a little guest cabin too. it's just a sweet looking property, you know, just ten minutes out of Court d'Alane. Yeah. in Court Alane, but you know, up the trail, up there. On the outer end of it. Yeah. and this property was under contract for one point two million dollars for its list price. just a few weeks ago, apparently a couple weeks ago. Got it. And that the sellers apparently are under contract on some other property somewhere else. That deal fell apart and they got scared and they they went with a wholesaler and the wholesaler. I don't know what they're under contract with, but it's less than nine twenty five because the wholesaler is putting it up for nine hundred and twenty five thousand. Right. And the wholesaler's gotta make some money too. Yeah. And I'm gonna go look at that property on Monday. Nice because people are scared right now. Yeah. But there's you know two hundred and seventy five thousand dollars in potential equity there and this property needs nothing. Yeah. Just need somebody who has the balls to maybe purchase this thing and figure out how to hold it. How do you get the down payment for something like this? Yeah. And just and it doesn't even need fixed up. Cool. It's beautiful. Yeah. they just need someone to close by October fifteenth. Okay. so interesting. Not saying I'm gonna buy something like that. Right. I don't even know if I have the ability. I'd probably have to bring some people on, but sure. it's just like these fears get contagious. Mm-hmm. And when and you can take advantage of people's fears. Yeah. If you're in this market, which sounds bad. It but yeah. Someone's gotta do it. Someone's gonna do it. If it's not you, someone else is gonna do it. You know what I mean? So this is it's it's not Taking advantage of spears, it's more seizing an opportunity. I wouldn't say it has anything to do with people's This is exactly like, you know, w Warren Buffett when he's buying stocks when sh stocks are down. Yep. You know. I love when my stock market's down, dude. Like I'm like, it's discount buying day. Yeah. Yeah. when s when sto when there's blood on the streets, you buy. this could be just a little scare. It could get worse. Who knows? Just buy right, be smart. Yeah. and and you just gotta use your gut and if your gut's telling you this isn't a good time then then follow your gut I think. Yeah. If you just that that probably means you don't have enough experience or confidence or or resources to weather through tough times. I think you do have to have the resources to weather through tough times if you're buying properties right now. Sure. because it could it could easily get worse. Right. but the numbers are just showing something different. Yeah for sure. And I think like the numbers like they are a little bit skewed in the fact that You know, some people are buying their houses for, you know, flip or some of them are buying for a rental, but some of them are just buying them for a primary residence for a place to live. Yeah. It's a different person buying for every one of those houses. You know what I mean? Mm-hmm. Like someone who's just trying to buy a primary residence, like probably doesn't really care too much about the end goal if they just need to get into a house. Yeah. True. Versus like an investment guy's like, the numbers matter, like I'm gonna sell this thing in six months, I need to know what it's selling for, versus someone who's like, I just need a place to live. It'd be interesting to know like what percentage of houses that get sold are put up for rentals versus put up for you know, like a primary residence if that makes sense. That would be interesting. Yeah. I don't know those. I don't think it's very high. Yeah. I don't think it makes a difference, but you know, it's it's probably less than twenty percent. Sure. lately. when the interest rates were super low. I mean there were a lot of people buying properties for rentals. yeah. when when the prices were low and The rents were high and prices were low, like in quotes. Right. Like at the like in compared to now. Yeah. But like what when an investor was able to just buy something off the streets or from a new construction property and get a three percent interest rate and rent the house for more than their mortgage payment and the and they were even able to, you know, get most of it financed, there were a lot of properties that were selling to investors because the math just worked. Right. Today, you even though there are a lot of great opportunities out there, the math fucking it barely works ever. Yeah. And I agree. So to to do what we were able to do a few years ago. Right. So you just have to have a lot more cash to turn that deal into a good deal. Yeah. But then you're and then tie time and patience. Yeah, and you're tying up your cash, right? And it just is what it is. But but what are you gonna do with that cash? Are you gonna make more in the stock market? You're make more with mutual funds, you're gonna make more just sitting there, li having at a road away to inflation as it sits in your bank account. or if you don't have the cash and you're trying to play this game, like be careful. If you don't have the cash and you're trying to buy a house for five hundred grand to rent it for two grand, I got and then you know you need help with the down payment from somebody else, right? Like just fuck off. Yeah. That's it. This is coming from an expert who likes to help people. Yeah. if you're in that position where you're trying to buy a five hundred thousand dollar house and you have no money and you want it to be a rental, it's not going to work right now. Yeah. It just won't. I bad news, sorry. But it will work if you save up enough money. Right. And have enough down payment. Or if you buy something on seller financing with a super low interest rate and and it can rent you know, multifamily, get a little creative, do a house hack. Yeah. House hacking could be the greatest for those that don't have money. if you can move into that property and it maybe has an ADU or something that you can fix up. still if you have no money, be careful buying homes because they cost money. Right. Even if you get loans, they still cost money. Everything costs money. There's still down payments involved. There's still operating expenses. There's still utility bills. There's taxes, insurance. Yeah. and the moment you close, you you've got to open up your wallet before you can get in the door with something. easy. so yeah. But that's really good advice. I think like now's not the time for people to be like completely strapped. Yeah. And and like leverage themselves to the teeth. Yeah. Yeah. Hard for me to agree with you there, but it's that's just the way it is. Right. But you you're also in a position where like you have other assets you can fall back on other things, paying your bills for an average person buying a house. And that's only if I find something with a lot of equity built in when I buy. Right. Yeah, I'm looking for discounted properties. I'm not just buying anything 'cause it looks cool. Right. and those discounted properties are few and far between. Right. but they seem to be getting more I I see w we see a lot more opportunities this last month. Yeah. which is pretty cool. And I think we'll see we'll continue to see that within the next coming months. just with the way the markets tend to go, right? Obviously it's September, things slow down a little bit, people start doing that panic like you're talking about, which creates a little bit of opportunity, a little bit of breathing room to buy something that may make sense for you. Of course. yeah, but like we say, like I mean, the real the markets go up and down, they're like waves, right? And just you ride the wave. Can we talk about AI now? Yeah, I know you've been chomping at the bit for AI man. I'm sorry we'd put everyone through real estate. Let's let's switch to what everybody really wants to hear about. And that is it's finally out there, Jeremy. There is a free AI assistant out there. Okay. 100% free. Yeah. that is actually useful. Interesting. And you still haven't even heard of it, which is funny. But It makes sense. Is it the little like little bean looking thing on my Facebook that's like try this? Yeah, the little the little stuffy looking like the little the creature. The white creature. I just click X every time I see it. I'm like, I don't know what that is. So what it is, it's an app. You download it on your phone, it's from it's made by Meta, made by Mark Zuckerberg. Yeah. and you know and then they own, you know, the meta glasses, they own the the VR thing, they own Facebook, they own Instagram. it's more than just Facebook. Right. But this what this is, it's like it's pretty much like Rockbot. Okay. and the meta muse or the the meta AI model is it's pretty good. It's not, it's not as smart as maybe Grok or Claude or or anything like that, but it's getting better. but the the cool thing about it is that's so user friendly. Yeah. The normies are finally figuring this out that they can have an AI assistant just do whatever they ask it to do. Yeah. And it's a lot like Rockbot, where it comes with its own computer and a lot of usage, but the the big difference is you don't have to pay for it. Yeah. It gives you a lot of y weekly usage for free. I started paying for it because I realized for just sixteen bucks a month, it gives you five hundred million tokens per week to use. Okay. That is an insane amount of usage. Insane. Yeah. It's hard to wrap your mind around just how much you can have it do stuff for you, like the long tasks that would cost you a lot of money with with even groc. but not just grok, but like Claude and and and chat GBT if you're using those APIs to do a lot of you know research for you or write things or build things. because now the the one disadvantage so far is that it doesn't have like a direct CLI. interface where it can like really build a whole lot for you but it can still do a lot like an assistant well and it can and and it can build its own like graphs and stuff for you and it it can it can do quite a bit and you connect your you can connect your Gmail to it and all the things you can go on its computer and log into like if you were to try to use it with view shoot and stuff to have it do tasks for you you can have it log into everything that you use online and you can just tell it what to do. Cool. And just treat it like an assistant. And it can do an amazing amount of stuff. Okay. now the reason why I wanted to give it a shot was because it had access to things that Grok doesn't. and that's what I was really excited for was just like you're owned by Facebook, mm-hmm, Instagram meta. You can dig through my Facebook the raw, you know, files that y the other companies have a hard time accessing. Right. You can analyze what works, what doesn't. You can go through my database and match up people. It it was able to take about two thousand people that are my in my friends that are also in my CRM. Yeah. And like give them the photos. Nice. So I can like, you know, anytime I pull somebody on my CRM, if they're also a Facebook friend, the photo's right there too. Yeah. So you can just send an instant memory of who they are. god, yeah. Which is really cool. That's cool. And then it and it also up it goes through their whole feed. to figure out who that person is to like better enrich the data there. Yeah. and it also came up with a list of like sixty people in my friends group that it really thinks that I should get a hold of that recently have life event changes. okay. You know, that might be buying or selling real estate very soon. Yeah. Like, hey, you should probably check in with these people. Yeah. Based off my research them. I also have set up Every morning it's it's digging through well, not just every morning, I think three times a day. It's digging through Facebook Marketplace looking for off market deals. Cool. So looking for That's a good way to use that. That's awesome. Specifically in North Idaho that have a certain discount to them or like looks to be undervalued. So before it ever shares anything with me, it has to make sure that deal is not only somewhere on marketplace in North Idaho, mm-hmm But in the for in the five counties in North Idaho, it also has to make sure that it's not already on Zillow or Realtor dot com. So it's not already listed by an agent. It's truly off market. So it verifies that. Yeah. And then it gets the Zillow estimate and then what the price is. And it's there's gotta be at least a twenty percent gap there before it sends it to me too. Gotcha. so just a bunch of filters upon filters of like, hey, this could be a deal if you want to take take a look at it. Yeah. That I found, you know, deep in In the crevices of Facebook. Have you found anything that like is like makes you not yet, but it's it it does it's searching every day. It's set up. I just set it up a few days ago. Sure. so we'll see how it works. But but it's got all those filters on it. That's cool. and there is something else too that I was doing. I forgot. but it's yeah. So that's what it that's what it's mostly working on. and it it and it's changing all it's helping out with all the AI slop. Mm-hmm. All these, you know, we have twenty-nine posts a day going out to different platforms. and it's going through with API and capturing before those before all those clips that are lined up go out. It's gonna go through and make it less sloppy, the titles and stuff, and just make it sound like me based off all the videos that did really well on Facebook that I've put out there that get the most engagement. And it's notice it's like I'm kind of self-deprecating, very short and brief. Yep. And it's like We're just gonna t copy those and change up the titles and descriptions on a lot of these posts and then stagger a little bit too. It's like you're posting them at the same time through Instagram and Facebook and the system kind of recognizes that. So it's gonna like stagger it a little bit better. Yeah. And move things around to get better activity. That's cool. So it's doing all these things in the background. Yeah. that take very little input from me. Right. And it's just it's just figuring out how it can spend its tokens. And so far over the last few days, It's only gone through like two percent, two or three percent of my weekly usage. And you get fifty million a week? fifty million. Fifty million a week. So like two billion a month if you wanted to max it out. Crazy. Tokens. Yeah. Which is and you may wonder well, what's a token? Right. It's like a basically like a word. Okay. A a read and write word. So reading and writing w words or and then some longer words might take up two tokens. Sure. If that makes sense. Gotta keep your word short. But but basically like reading through stuff and writing stuff. that's how much it gives you, which is an incredible amount. It's yeah, that's a lot. That's a lot. It's like unlimited, basically. Just call it unlimited. Right. And there's even a more a bigger plan too. that you can spend a hundred bucks a month, but it's just never gonna use that. Yeah, I don't think. So the reason why you purchased this one is because it has the Facebook integration like the other APIs don't or the other agents don't. Well, the reason I purchased it was to get five hundred million a week. Yeah. Because I did actually almost everybody online says like you won't run out of this stuff. Yeah. But I started putting it to work right away and I ran out after three days. And it's like, you hit your cap. Wait till next week. Yeah. And I'm like, Well, how much does it really cost? so I I used it a lot, maybe really heavy on the first week, and I I don't mind paying sixteen bucks a month for something that that's bringing me that much value. In my head it's just making me money. Right. it's a it's just an investment as a return on investment. And now things are set up in the background to where I don't really have to go to it much anymore. And it could just be digging through Facebook Marketplace and not not just Facebook marketplace, but all those groups. good that I'm a part of. Like all the investor groups out there and Idaho houses for sale. It's it's looking through all those groups. Cool. That's awesome. Yeah. Yeah. I mean that's worth it just to Maybe find some diamonds in the rough for sixteen bucks a month. Just got this little assistant that's out there trying to hunt deals for me. Yeah. Just like that's worth it. Sixteen bucks a month. And then it can do whatever else I ask it to do. It's like a hundred and eighty bucks a year. Yeah. It's not bad. And I this morning I had it sign into both our YouTube accounts to make some tweaks on the YouTube titles and descriptions on everything. cool. Does it mess with the to humanize it a little bit more? Does it mess with the Thumbnail at all? Or does it just do the title? I haven't had I haven't done that. Yeah. I've been I've been still kind of creating the thumbnails. which hasn't been a big deal. Right. I just wasn't sure if you wanted the thumbnail to match the title or description or whatever. I wasn't sure if it could like do the whole integration of that. Well, so there's no real thumbnails with the clips. Sure. I thought you meant for like the longer form videos. Yeah, the longer form videos. it's it's going through and messing with clips. Cool. That's awesome. Yeah. Fun. Yeah. That's cool. I think so. But I would give it a shot, everybody. I mean, it's why why not give Mark Zuckerberg more information on you? it needs it. It needs to know what your bank account info is, it needs to know everything in your emails too. you just give him your info and he'll give you free AI tools. It's a good trade-off. It's a good trade-off, at least for now. You know, Facebook does this. You know, when when they were they they it will get more expensive. This is The s they are losing money. Yeah. Absolutely losing money on the amount of API that they're giving people or the amount of not API but tokens. Yeah. it is not profitable for them at all. But it's their way of just getting out there and getting people to use it. Yeah. So might as well take advantage of it while it while it's early. Absolutely. When people are using Facebook ads, Facebook ads, you know, ten years ago were so cheap and very effective. Yeah. Now they're expensive and not very effective. Right. so when you get in on trends like this or little you know, before they become big trends. Yeah. it really pays off in my opinion. For sure. And and like don't be afraid to give the machine your your credentials. It's don't be afraid. You can be afraid. I just I just outwit I just the only you know, we're in business. Right. I just I want to I want people to know like like if you really wanna be like just like weirded out, just read your Facebook terms and conditions. Like when you post a thing like I see all these people posting like I'm telling Mark Zuckerberg right here in my post that he can't share my information. Like, that's not how using the website in terms of service works. Please read your terms of service. So I asked I asked Muse this morning. I'm like, so what is the main revenue driver? It you know, directly or indirectly? What's what's the goal since Meta's a public company? And you're gonna have to tell me what why why is he giving people? I'm asking. And it did. Yeah. and it said the number one thing that will likely be the big revenue driver. it's not selling the AI yeah you know at sixteen bucks a month, but it's getting in the way of transactions because people are going to be able to use it which you can. You can link a credit card yeah to this thing and it can go buy stuff for you. Yeah. And it will pre negotiate in advance to get a little bit of a fee every time it's doing that and have the sellers and merchants pay to muse in between. So it wants to get the transaction money. Yeah. won't necessarily cost you more money, but they will get it from the merchants. Right. so that's the number one big thing. There was something else, but it did didn't even come close. It was like actually selling the membership, you know, the 16 bucks a month. Yeah. They're losing on that so that they can make money on it. They're banking on people using this assistant, which people are. Yeah. to not only like go buy stuff for them, but save money too. They have a lot of there's a lot of people online using it to go through their bank accounts and then contact all their companies that they spend monthly money to to try to reduce and get discounts on their services. That's great. And it's working. Like they'll go it will go through and do the chat chat support on all their companies and stuff. Or and you can give it a phone number to call and it can call and actually try to get discounts. You know, calling your credit card companies or calling whoever. Have you done that? no I haven't said anything like that up No I probably will. Yeah. That sounds pretty cool. I mean, like worst they can tell you is no. Yeah. But that's so that's but that's the number one apparent reason that the you know the p this public company is doing this is to get in in the way of transactions. Right. Interesting. So I know like Meta recently they were pushing really heavy on their metaverse and their three D worlds and stuff and like Mark Zuckerberg lost billions of dollars. Yeah, but people still use meta. I don't think it's dead. I mean my kids love it. Right, right. But like what last I heard was he was abandoning that ship to like focus on AI tools. Yeah. And that was like a couple of months ago I heard that of course. But Yeah, I've heard similar things. I didn't know he was abandoning it completely. I just know that it didn't really work. That was where his resources were were were funked, right? He's still like it's still alive, but he's like, All right, I need to We can come back to that. I need to bring the fire hose over here a little bit and water these plants. Yeah. So no, it's very interesting. I'm glad it works. I'll have to give it a try. I'm still I'm still one of the normies, man. I'm working on it. Well, this is an app for the normies. Right, right. Yeah. Even easier to use than grokpot. Grokpot's pretty easy to use. But this is just so much cheaper. Yeah. and but mostly free for almost everybody because most people aren't putting it through the ringer like I am. Right. You're a pretty heavy AI user. Yeah. So anyway, that's all I wanted to say. Okay. Give it a try. It's called Meta Muse M-U-L. S E, I believe. Sure. Yeah. Sure. Who cares? Sure. It's either U Z E or U S E. I don't know, man. but you can download this on your phone and you can also download it on your computers and give it full access to your computers to do access or to do work on your computers too. Crazy. It's just not like a C L I agent, but it can still do a lot of computer work. What kind of work can it do on a computer? Just curious. so it was able to go through my database. Just by it by me putting it on the computer. So it was able to go through my files and and figure out on its own. So I didn't have to like give it my Excel sheet or anything. Yeah. So it was able to go through and figure out which Facebook friends were in my database. Yeah. because clean up that stuff, yeah. Yeah. Okay. So if you can you give it like API keys or anything yet or no? yeah. Yeah. a hundred percent. Okay. Yeah. That's a it thrives off API keys and stuff. Loves or you can just pull up its computer and log into stuff. Cool. Or it will say like hit what's your login info to this. Yeah. Crazy. Yep. Just like a full. So it's just it's it's just like you gotta think about it like this, guys, to not overcomplicate it. It's just there's there's somebody in your room with a computer that says, I can do pretty much anything you want me to do. On this. You just tell just tell me what you want me to do, and I'm pretty sure I can figure it out. Cool. And if I can't do it, I'll let you know some alternatives. But I can do like 85% of what a human can do. Yeah. Or more. That's possible. If that makes sense. Yeah. So it's just why not take advantage of free labor? Yeah. That that's what that's why I'm so excited. Yeah. And because it it it truly is free for like 90% of people. You're you're not going to use it that hard. Right. And if you do, good on you, pay the sixteen bucks. Go pay sixteen bucks and to get really utilized. A fleet of a hundred laborers. It's true. If that makes sense. Yeah. Yeah. And like in and before we sign off, like it's just it's crazy, like the last six months just hearing you talk about AI. Yeah. Right. Because I remember like slightly easier and easier. We have conversations, you're like, man, I just did all this work and all this work and it's so crazy. And then the next week you're like, there's a thing out there that does exactly what I needed to do without setting it up. And then the next week we're still going this direction. Yeah, of course. At this point, I don't know how much easier it can get, honestly. Yeah. it's it's not complicated at all. there's there's no more complication at all for most people, I don't think. So yeah, that's all I gotta say. I think we're done with AI talk forever. No worries. I'm gonna come in the office on Monday and you're gonna be like, guess what? Guess what? Just released. Yeah. I'm okay with it. I think it's it's nice to be on top of these tools, man. So Yeah. Hey, if they help, they help me. Yeah, you know. It it's it's more than just excitement. It's like, wow, this actually works. Yeah. okay. That's all I got for you guys today. Hopefully you enjoyed it. And we will not really see you, but maybe you'll see us. Yeah. I can't see through that thing, but you can see us. I can see you. Wish I could. All right. Bye