Stories Speak Louder Than Words – Featuring LU Member John, 8/8

Del Walmsley
Tuesday, August 8th

This show is a look back at our first Tell Del Tuesday ever! Enjoy!

00:43:44

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

Keep up with the latest breaking news in Austin and around the world take a moment to make sure you're following us on Twitter at top thirteen 7011. The tweeting began. Welcome to the until one sleep radio show. Questions. Power's future returns. Here they're true. Next hour we'll change your life. Now you're okay. CEO when it. Welcome the Dell wants in radio show where the husbands and help against army generals tell wildly there's always working and your financial freedom. Well yesterday we started discussion with the listeners we had two or three people call them and ask this basic question. Would you like me to have people. Coming here and tell you their stories. You know I told everybody yesterday the reason I don't do that a regular basis because it looks like it becomes a testimonial farm. Like we're trying to sell you something or that we're trying to prove something that we don't really need to improve most of people who work with me are already millionaires. And we do this because what do give back what help other people would like QQ were you wanna be. But yesterday. The unanimous decision wasn't that most people call simply getting everybody called said they'd like to see. A spring some people want for them to talk you know here's the deal this is the trade off it doesn't do me any good to bring these people law and and just have them tell you their story. In less you Iraq we need your comments we need your questions we needed to contact us. I get involved with this this needs to be give and take situation because. I can get anybody call up and tell you anything you wanna tell you but unless you question these people. It lets you comment on what they're saying. You're not gonna do to get out of it what you need to what you wanna hear from itself today I'm gonna bring on my first guesstimate try to bring may be just one week on. I don't wanna return this whole show into that type of deal because the show so much more than that but just for those people yesterday that wanted to. To see some wanted to listen to someone tell their story brought someone on today that I think is really a great connector. Connector with the fact that. There are two different ways you can live your life you can live your life of the conventional format and go to school. Get a job save your money put forward okay. Four you can go completely different direction you can go out start your own business and become rich. Now interestingly enough this gentleman did it very early age was 26 years of age she's already been real estate investing since you've just got out of high school. And he has a very interesting story and story starts with this father asking him. The question to fund to save a few dollars for you for an education. But I'm gonna offer you an alternative. Option you can either take the money go to school. Or you can take the money and start some type of a business with a and I hope you look into it and you can grow and learn. And make your way that way. Whichever way you prefer to go in this young gentlemen decided that he was gonna go on the business route. So he is troubled drug decided they wanted to go find something for him to do. And abdominal let him take up the stories from that point run on other we've set it up for the general relativity initiatives mr. John Boris and John you witnessed today. Honored to be thank you. John numb I want to give you. A world earned calculate for those who out there don't know does not only 26 years old already old couple apartment complexes. John one this year actually is 2014. He won the Houston apartment association's real estate investor of the year award for independent real estate owners in other words he's not a big conglomerate corporation uses independent guy that. Set up his business and runs in his apartment complexes anyone investor that your. And in addition to that which is unusual. This is. Got to be record somewhere he Donnelly won the independent investor the year one of his other properties one deep. Proper sheet of the year for 2014. So two of his two properties bolt won awards. So John I congratulate you for successful 2014. However I heard two days. Did they contacted you and Al they wanted to nominate you for that exodus. Apartment association investors here that I hear that writer was I just blows that wouldn't was a real. You know that's what I'm glad I'm actually gonna you know just a couple hours ago on the future of our association saying they would like to nominate me I'm very. I'm very honored to have gotten in there but I'm not. And I know that you've already set a record of winning the the apartment association's awards 46 years of age if you won the Texas won by 26 years of age is just gonna blow my mind cool start to story back there where. Your dad pick up where your dad was having this conversation with you about. Giving you an option to do something different than the average kid does tell me about it. Yeah at that point that went right Mike you certainly we've come a long way that. I'm really caught the big backer of how award from art that's out there. I can tell my dad came in and about it all year option to other traditional brick and mortar college scenario. We found myself in the war and come out of this video and radio salute to kind of initial. Today's classroom in were very impressed. Just. The fundamentals that seem to be taught and this often don't know their real estate has been there. This avenue that actually knows that we could talk that would. So it provides for us to be won a career era a long term hold from the house. Clearly we jumped right in we we bought and that line and sinker in the we we started out doing look and without food so I battle about first cadet remember going in there is correct about I've scored. I know it had no real estate experience. I had no business experience I had no leadership skills I had no accounting skills you know wanted all kind of well I'm scratching from my outlook on the people there. So. My dealings in a deadly. You know that first year kind of mobile me that well on the basics in the business school we have a making good money there and loved that it is so it'll it'll tell. Sure good core would go on you know you have regarding to this before of its case study would you did you talk to didn't really go into what he did for the some programs. Tell us just briefly what you accomplished in singles final cut. Cash flow where you make it on that were cut capital gains you make of that. Just cherry so we have we thought both houses. Either candidate testing itself also relatively popular how to. You know before try the big big truck and real estate prices which at that level she got them 200879. Everybody's houses and 2078. Out of eight. And and and they. Brenda buck Weaver entered the house believe you know would normally. After a greater value being 8200000. Dollars in Irvine or you know 30405060000. Dollars in Intel would cash flow. Do mystery of this for 500 dollars each. And I was providing only a little bit income and end this through and. And that is the capital appreciation lower there's capital gains well we haven't. So what we actually just this year's started sewing facility of course the only properties that we bought for you know 8090000 dollars are now or. You know 13540000. Dollars and I'm excited it's. It was going to be a war the video apart a little behind the curtains are all of these out but they've been awful from all of that it and he talked about note I mean we've got. Eight houses. And I literally probably. Q it took three hours a month we'll did you need any houses that are making us. You know try and be quick mathematically. I felt I talk about a month. While so what made you decide there and then we've got to two minutes here a minute and a half of what we have good breaks those kind of time ourselves. But what made you decide to change from houses over two apartments and. Well do you know the natural flow that that is taught at loch. It's the transition from the political flaws smallest still on the into apartments and we all you know followed in the wanna do this. Full time and and and and make them more control editors or or how mine and my long term planning real estate. We need to go bigger than you shall we houses and so we while those are great you know that would appreciate is that a lot of money being liberal outlook. We saw more opportunity. For launch a world in their apartment and actionable multifamily side of things that mark made a cut. They had initial jump into the oval fifteen minutes are. You know that's interesting also that the first deal that you did because. What I teach and I want everybody out here to notice I'm just processing this. What I teachers don't work in your business work on your business I don't want people find these things are going in management but. That that wasn't what your dad had among your dad wanted you to go work in this business to learn this business. Almost like gay on psychology education type deal. Is that pretty much what. Q worked out to be. Exactly are we tried we were outside the normal way of it's in that I was you know. Running in new business straight time alerted them lack of that I needed each experience it would it was you know my hard Knox College education that's why we learn the business that. It was one of those apartments and none of those albums. All right well we're gonna take a short break John when we come back our hope people will get on the phone our number here. Is 8776556755. Folks. Not very often needed to meet 26 year old millionaire I mean come on this is available we'll deal we'll be right back with you don't want your radio show. You're listening to the Joseph wants. Principles and just a few minutes. Lifestyles unlimited is the real estate investor education and mentoring group that is taking people by the hand and taught them how to invest in real state for over 24 years our students have been so successful in treating mountain pass having come the day one local state and national investor the year awards nine of the last nine years it's easy to see my personal real estate investor magazine named as the best in the US if you're ready to add real estate to your portfolio go to lifestyles unlimited Austin dot com to access our free live training events scheduled. Wondering who the free workshop is for we did amazingly successful with people who are pressed for time. Doctors lawyers small business owners and corporate professionals. Who are grinding their lives away for earned income until realized they can start creating passive income today. Within that confines of their schedules and commitment. Want to get started now go to my passive income workshop dot com. Texas weather can change on a dime. Wanting to explain to you again shortly. When the weather turns severe. Turned to us for what you need to know on air and online at top thirteen sending dot com top thirteen seventy the right choice. 57. General wisdom just sets you free the men on a mission to retry. One for. 01 slowing. Radio show our heroes don't want to witness today use the Houston apartment association independent real estate investor the year for 2014. 826 year old mr. John. Four reactor and John I'm gonna skip over the fifty unit that you worked in capture guard troops. An education from because I want to get to the deals. That you won the awards for book before we go to that we do have a caller holding select get cholera and bogus start with one that you won the proper reward I think was your first large do you did before that we got Lou can separate Cisco Luca going LP today. And got married but. We'll give. Well armed and 13 of that with your program. Are about Jews actually rest your three weeks ago and because learned network lately I've had a chance. Get on the lifestyle a limited web site check it out but. I definitely want to get your call what you're on the air today I'm kind of kind of integrated op. I love my wife and I. Papers are our wears out back into about twelve and I'm dig real stated that if I'm not. Particularly been have been particularly interested in or my lack the kind of little more conservative. It will worker on the fact that she's afraid you know. I mean a second Al primarily the children from well. Instead of I'd actually takes on my own money that I'm making a consultant augment your on eBay making money it opened up all brokerage account surgery. Stop. After a certain let me assure you go. I don't like the idea of investing at buffalo actually paid you actually urge your you're golden your story. Com and I would do that and it's it's cool I love the idea of actually invest in equipment actually failure on that a we. Do you have been bad there and then hopefully one day he got to go to pull money out but. How like it's a one day and a lot. Big differences between speculation and actually earning income. When you have earned income negated every month you have some despair and when you speculate goes up goes down sometimes you have some good ones sometimes you don't. That you don't really have any money and stated that it doesn't pay you he needs something to live off of so what was your question. Question is on our you know I don't have a lot of money to begin where I'm an artist what my wife actually yours ago and kind of started. Reaching the subject of pop was doing real big about that but right now and that's right now I'm. That I made up you know I've only delegate few grand. You can get our what was it that much especially given and I live in. If California urged rock. That being said. Created out there like in your opinion what will be the best way to get started like actually firing like Bridget. That's the group. And make it might outweigh the Bobby. Might score like you. 10% below 4% and. Yeah yeah yeah difficulty in San Francisco buying anything that was 2000 bugs don't think you can plug. The door I actually it was a front of the house. Yeah I live an hour and apple way in Modesto where real state. Outright destroyed at three Q were prior around you know once did he want that 85 which is. That should work that that out or shall thank I think you need to have around ten or fifteen thousand's they've done before you start. There's ways to to use creative financing to be able to do this stuff however. Just overall to get into this kind of busy she need to have. Some liquid funds in other stuff the comes up you wanna be able to pay. On an ongoing basis that you need to have some liquid funds I would recommend should vote about ten or fifteen grand. If you want to do something know to make a major step towards it. That I would recommend did you sign up for our class. And Laura and all the stuff you're gonna need to know why you save that money up and you might find a deal that's a great deal while you're saving. And you my partner on that deal with somebody you've followed certainly my solid deal somebody else because. If you've got that education notre looking for the you can go ought to find something even though you can't fund it yourself. You can quite honestly many times find somebody else to fund it with you and if you listeners story about John bower react I think you're gonna see what I mean that it will show you what I'm talking about. All right Luke thanks for calling in our judge you there. Are all right this gentleman doesn't have any money. But he wants to do some real staples talk about your first large deal how many families. Helped you fun this first large deal. And I think we had well and my partner with us on this deal and obviously it was. That you gave birth to take down our own suite stone. Found out twelve other Stanley within lifestyle that I had similar education and training and wanted to wanted to do an apartment deal and we are still together. So let's go through the numbers like he did the other night. Clarify what you bought it for Hamachi had to put down. And oh how you profited on this deal bulls in the capital gains and on the Joshua. OK great I'm so those those they loopholes and ways corporate all within a total of two point eight million dollars. So very there are initial capital in the field. Our approach this crisis he wanted badly to this 200 units in the third property about built in 1979. And we paid eight total. Six point nine million dollars for the purchase price. And then after closing costs and rehab of the plate there in ninth. We're always in about seven point seven million dollars that's kind of our our all and cry. I found to have been then we have been that was that was in march of 2012 we bought out in the rehab we you know I'm out. Ground ball to the members a lot of what the best you know way to operate properly and that could this problem it would have been there for this issue we got our best practices in place. We had improved the cash flows so much that the the value of that property. Now has almost doubled to it is about fourteen and I have to fourteen point seven million dollars. You know they're that you're already got all that today that's about what the thing that's so or so we've created about forty million dollars. Increase the value here with a capital gains and that's what we would go to you know goes felons. Today but in addition to that. Struck just the cat so its generate some distribution that we have made created the that of our investors are still being distributed. 1201. Half million dollars. In checks go out our investors. Ever really hadn't two point eight related to do it we almost retired or we turned over. Half of our initial investment deal over the course the last literate than couples you know pierce. Well it's unbelievable how much do you raise the income. From we took over to know this forward looking into. Yeah absolutely bought the property they were collecting about a 120000. Dollars a month and we knew there was some room to improve the operations and raised somewhere. And we have only bottom we originally thought we could probably depending come from a 101000. You about a 135. What turned out we were able to do that we saw this huge apartment marketed them really well. Yet now collecting it bounces between and 6570000. Dollars a month of. About Lowe's commercial that that is 35 and 40% increase it'll come. That's incredible stories we're gonna take another break so we come back when you go through more than details on this particular deal let another deal that John's done. But let's think about this judge made it. They each set of partners. Seven plus one and a half eight and a half million dollars. On a total investment. Of two point eight million dollars that's 300. Plus percent return. We'll be right back with don't want to review ship. Listening to the Joseph want. Principles and Justin. Longtime lifestyles member Curtis Payne. It's a real choice for me looking back. Is helping others and I wouldn't be able to have done it without the support of lifestyle ladies can't please thank you enough feel for that. If he were to ask people if they could vote on the top ten guys. That help other people you'd be one of them there's no doubt about it. You have this roadmap of holy success stories on this one I'm just. One person out of looked thousands fantastic success story that each and every person can learn from that's my advice. Take Curtis Haines advice come meet felt like minded successful investors who are helping others just like dale helped him. Attend the workshop get your map. Safely and quickly build wealth and passive income so you never have to worry about working till you drop. Losing your job or retiring in poverty. Call 18669718970. Or go to lifestyles unlimited Austin dot com that's lifestyles unlimited Austin dot com to register for the workshop it will change your life. If every talk radio program for the same. What would be the point the Michael very shows a little bit different. We're gonna talk about politics but we'll also talk about how great it is to live in Texas weekdays from five to seven on talk thirteen seven Michael Berry show. Joseph what is this that you. The man on a mission to retire. No one's going. Look back don't want radio show. With the today is the Houston golf association better real estate investor of the year for 2014 mr. John or react. John as we we're talking about this last segment. Effectively restate this. Yesterday when I have people call up and answer this question do you want me to bring people want to discuss some of these deals. Because I'm always afraid you know. You go out and start tell people about how great you've done and and they think you bragging instead of teaching so forth it was always had that little risk there but they are release it though we'd like nobody it was what was really interesting about the whole thing. These two guys that we know it really be needed to be interesting if you could actually get somebody to tell the truth and tell the numbers. And what these guys don't understand John as that everything we do everybody in our group tells the whole truth nothing but the truth. And shares the numbers and take you to the deal and shows you the deal and educates people with life deals that they don't know that job. OK but to prove this to you could I know you're very private family and so I'm asking a lot of you but I know the facts. Behind the case so I'm going to disclose who these people something and see if I can if I'm close to being right I think I spoke with your dad about one time. Was that your dad share in this profit somewhere around 800000. Dollars of that eight million bucks or something like that. I was. They can. I'm trying to remember exactly what else are symbolic of 35% understood that he could there. The it. So was third at eight million dollars. We had to do what I'm trying to get through your guys is that. The average person out to Jon has no idea how much money we make atlas sells this it's incomprehensible. For them. You know the guy wrote me the other day an email I said do I make 11% of my stocks I'm so sick and tired of you picking on stock people. And call it ignorance and go off you know wrote about does it look is not ignorant wanna be middle class. To wanna make 11% is so a worthy goal for one's life. But these guys don't understand the kind of money we're making it. And you know future you say to yourself well what did I do from my son. To seven to college well I got to college degree obviously. And ice you know are now you made him lock him into suffered two working for the rest of his life to old nothing. To make very little and turn 11% on its greatest goal and investments. And yet what this is done for use not only made your daddy 100000 ultra better whatever. 13 of the millions I think it's got to be more than the embassy. 133 H 2.4 million dollars would be 13 of that. So if you if your beauty that you get 2.4 million dollars obviously he's got back everything invested in do you. But you've gotten this college education of life. Her home and that's what I don't think they're seeing here they can't they can't wrap their arms rhetoric is just to unbelievable for them. That people who do just I want to ask you this how many people up or not you racecar how many other people view metal I still lived on the very same thing. Oh my lifestyle you know there's there's there's plenty where there's a group of. No it's just from the I'm not a as tension with this thing up or excited about those funny people there but there's. I don't know how weird and just came about as good news is that the multifamily. There's there's a large scale and it's the it'd be opened it yet pay investors and. Indeed it would in the family event and I'm I'm Leo I've learned in owe everything to all of I call them all the time as a bag you know that we will have a pretty talkative. Column and Ottawa to this issue and it's very. You know self supporting group didn't end absolutely guys but there's no way we that we could've gotten over it gotten there without. Not this principle as well so. So your little mastermind group is composed of about fifteen to these guys in reality there's over a hundred these guys that are doing this. And you know you figure out you put 24 families would put additional companies and was excellent for. This was twelve fairly spoke of and the next do you get head toward fortunately some correct. So you've got 36 failed only see your change in their life for them they you think about that. You still how many people involved would you've got a hundred people out there and each of them have 36 families as some guys have over hundred it was an investor with a you think of the number of lives you guys are changing where you're getting them 300% return in two years compared to 11% return a year. It's just a crazy crazy things that you talk about the young gentlemen Luke who called up. And lute saying I have no money. Well obviously you didn't have two point eight trillion dollars and 26 years of age right out of high school so. How did you raise two point eight million dollars. Yeah if we switch in the grip since it's a matter of warring believe the fundamentals of the business that's so quickly how it lifestyles. And and just being able she'd go and connect with real people not meet people. Or email or our economy out you know communication marketing thing where you have people that we. Go to get that the collapse we appreciate candidates and he once it and we go out on road trips together and and and look at properties. And there's you know the. Blackstone Group is that I need good or were able Hugh. You know network which these individuals and it was a real life people have common goals and values that we do that well that's been in registered natural pulling partnership. They'll have you taken out and given a few given back besides education and you know you've got a couple case studies. And you've done this the second time generating a show me. Have you done road trips have you given back let people come out your business and look at the inside of what you do. Absolutely I love doing that I mean like I've said. I don't know everything I have to the group that last and I'm anxious to achieve a return so that was my my eternal clearly doesn't cuter before or not lost count I've forced to record for Roche as we've taken people out to you know the property at one the award now are more recent acquisition and and show them here's what we did about rehab it was the everything from you know here's the ridiculous thing you've figured I'd take a that we shoot each your stuff when you hear. The software used anything and everything is open for questions. And how can you imagine this folks this is for those you listening right now. If I go over here too cruel words or ray and goals or Safeway and say look don't open a grocery store. What I'd like you to do is tell me everything about how you run viewers were your body stuff that what you pay for your stuff how you hired employees what you pay them how you screened them. How you market stuff how huge you know facie shelves. At Chrysler to copy everything you do so I can start as successful as you are. Can you imagine how their folks any business being will you do that yet for 25. Years. Got lifestyles that's what we've done. We take people sort the once you start you have all the knowledge and pro has a right from the beginning before you start that's why the the expectations. Are so hard for every one of our students and the failure rates are sold lol for sold very few of our students so John let's move onto the second you tell us about the next deal you do it. Sure okay so the next Theo let's do that memorial. It is out here in really speak to carry it out they would not a very nice property ballistic over. The property that had been. What it is used and abused by its previous ma am pop voters. Why their involvement in Dubai last start really didn't know you can do it are the maintenance and taking care of the property is so important element. This Vancouver are really nice area analyst good hybrid and this is really. Given that how that it was it was just I going need a lot of work so. We haven't bought a lot of twelve monthly or under a month ago and and that's why it's just undergone a complete transformation of that property where. Just about anything and everything that you can he has been replaced and we've turned up. Although I've always done about 02 billion dollars would've worked she's. Six at that property and in turn it into a really. Really nice. This would you know urban luxurious place to live that is that is has an awful location while I told him. And where is. Where'd the rent levels were able to achieve with this new reality beyond what the leading and had planned on it to. But it in perspective. We bought the property. I think they're market rents or on the spot and we'll all square foot basis sort of do it purse for good of you are opinions. Where about ninety and ninety cents to a dollar purse where that was already pretty eyes yeah it appeared that general market because location. How can we have our you know our records now are running about a dollar 32 adult forties. Square foot so you know 40% increase again in the to revel who will be able to get nearly happened it and it's just such it is so it. Just so they'll they'll take something that was so ugly it's so random and turning into a really. Are we got about 3040 seconds here before they're gonna cut us off to a break. Comedy about the number game case and we like gesture on questions are numbers 877655. 6755. Whom we come back from the break jogged how many have you slam while the numbers that down payment money the rehab money. The all in money. Purchase price and then. Let's talk about projections where this things could end up after you get it completed we'll be right back to. Dell once you radio show. Listening to their Joseph want. Principles and Justin. Did you know that every dollar you put into a piece of real estate makes you money five ways. Cash flow of money in your pocket each month. Equity capture the thousands of dollars you create when you have the right team and by the right property using the right math. Appreciation. Real estate doubles in value about every ten years equity buildup. Printers pay down your mortgage each month and finally there's tax advantage we pay almost no taxes on our cash flow and capital gains. These are the five ways we make money and realistic which is why realistic accounts for more millionaires in the world today than any other investment vehicle you should have some real estate in your portfolio. To learn how to attend one of our free workshops call 18669718970. Or go to lifestyles unlimited Austin dot com and register for the next available workshop. That's 8669718974. Go to lifestyles unlimited Austin dot com. Get the latest business news from CNBC. Weekday mornings at 63830. AM weekday afternoons at 12343530. Make you smarter. Hopefully it'll also make use some money yeah. Stay connected with top thirteen seventy the right choice. What would happen if you didn't show up for work tomorrow. For the next couple of days for a week a couple of months a heat how long until you lose everything you've worked for in a fraction of the time it took different. If this fear keep you up at night it's time to learn the strategies we teach it lifestyles unlimited start with the free workshop. Go to my parents who didn't come workshop dot com and find your true financial piece like so many of our members already have. That's my passive income workshop dot com. Thirteen seventy. General wisdom just searching. The men on a mission to reach out. No one's. Real estate investors here for 2014. Mr. John warrior job when we get started here. I just wanna tell everybody look guys I need you to respond and tell me either by called up right now let us know if you like this type of a segment in the show. Or not if you'd. Don't have access to go to call me right now you can email me and asked Dell. That's one LB I'll ask you del DE LF LU I NC dot com told you I NC dot com best deal. And I'll let me know what you think this this type of addition to start the segment had. Otherwise. You know my shows generally about me ranting on about life and if you want this piece in there yet what we know that you do. All right John back do you narrow second property legends of memorial tell also the numbers people like to your numbers all the time initially was here the truth. Gesture so I'm Il the current sixty minutes. And we paid total. Purchase price of seven million dollars this deal. And that we eat. Included closing costs and the rehab. Is that what they do rehab. Or all in total cost for us is the right nine million dollars are all on the field in the bury. They're hit areas there where we're proud of him in that area for fifty Teresa before thousand dollars per unit. Well let's talk about the nine million how much of it is equity that people paid indicating to the deal. How much of it is loans. Church so we could end. Of our total capital that's your field it was 24 and we Netflix or any other we couldn't have total believe obviously quite few million. We have got your at this point two million invested in this deal. I'm we've now finished with the the rehab to turn this since we think of the property you are now getting I was working on so it up we'll start. Our new and improved clientele. We will be seeking this year first part of this year she did it a world oil currently finance so well as your computer and created the you are the property from operations. Now we want you refinance or get a load at that higher value bills also call. Cast doubt that you know I believe we improve their values by. Yeah I didn't need need projecting a little bit more humans actually get our people back but I am I'm guessing that we improved the value from. You know does that little dog that is botnet do about. Holly ten and a half or eleven million dollars now though to get Rollins and nine million dollars. I believe we have an asset or public and pretty easily. Right now. And then even after. All that money out and they're able to distribute that an increase value that our investors. It option that we should be able to generate cash flows of about 400000 dollars per year so. If you take that number and fight for dark chapel invested at about 13% quicker. Can't. The largest Minnesota. Traders were quick math here trying to figure out what you're going to be able to pull out. See it looks like you can get a loan of about eight million a quarter million. You have to pay off that old loan. You know well they don't look at exit what did that Syria. Six point. Three. And have to pay off. So I dismissals of some 88. And a quarter minus six and a quarter. You know it's two million. You build it back out about two million of the 3.2 million new putting it. So. It's 3.2. Million divided by. Two million. And it didn't work at all for its technical and show never works on the radio gens to write about two million. You'd think that you take the two million dollars that was excellent or beautiful out about it by the report that we aren't that. You know what it's six yeah that's where rare. Also trying to figure also three million dollars you're divided by 2.3. So you're saying. We think about that the diplomatic tour that I'm sorry got two million dollars and you divide that by the 3.2. A bunch of zeros. Up a bit of. I can't do so much so almost phone while doing this it just didn't work out but this is so crooked real easy math in your head if you're if you're pulled out two mil. And you put three Millie and you get about 60% of your money back. That's without any calculator all just you using normal human techniques that are so good about 60% of your money back and how long you've been in the deal. Right and here. You know that's tax free to all right yes sir so. Again in this particular project you've already got a 60% return the first juror no what are you projecting the sector you're do you have any other projections. I do what what what we get that finances played. I've I'm projecting that these ongoing cash flow for the operation will be about 13% return my thoughts are up about a year or so. We checked so what we're talking about your debate create a comparison of the last deal was just. The phenomenal home run. This deal here is. Still a great deal but less of that home run but what we're saying is on this particular deal. It be like going out. And buying a bond that PG 13% which is unheard of you never get there. And then a year later selling the bond at a 60% gain from what you paid for. So if you bought the bonds for a 100000 dollars you can get to 160000. Bucks. In capital gains 60% capital gain along with a 13%. Cash flow on an annual basis and so. You put that together for the first year you've got thirteen sixty you can have probably around seventy some 73% return and then 13% thereafter in less. You continue to raise the reds do you see potential bid to raise the red answered it. Control the cost any more if you already you pretty much brought this one up into stabilized position that can't go further. So I think there's still definitely going to be Grammy Awards at what we shall accept or we will just play which went small automobile do you. Things like that you charge more for all of you are charged more for downstairs unit. And that's the debate between the income even older more wolf what of course always find ways to cut expenses and I think for a better price. And then also the race. In just as that markets are are there are are slated to go up significantly give this year despite that it luster so there's a lot of well. Absolutely well John I wanna thank you for coming number can be of the show here and wanna thank you very much for showing up and wanna congratulate you again. Not only for what you did last year but the fact you know you've been nominated for the Texas apartment association award and we look forward you winning that of course. My greatest hope is that you win the national Barbara ward also sought to go hitting. Get up there with you party with you could were taken group of people up there for the national park association awards this year as we do every year are you planning on going that. Of course that would support. They didn't work load of the yes well we got to go fact thank you John and for the rest you remember it's not a body it's a lifestyle have a wonderful day. From listening to the joke once we bring. And talk. So that you can obtain the results. Join us. 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