Working Capital Commercial Real Estate

Ashley Wilson is Co-Founder & Co-Owner of Bar Down Investments, and HouseItLook. Bar Down Investments owns and operates large apartment buildings, and offers opportunities for investors who are looking to passively own real estate. HouseItLook flips primarily higher end homes in the suburbs of Philadelphia, Pennsylvania. Prior to Real Estate, Ashley worked in Clinical R&D for GSK, Wyeth, and Sanofi-Aventis.  In this episode we talked about: How Ashley got into Real Estate Investing Her Experience on Short-time Rentals Buying Larger Scale Commercial Properties The Deal Ashley is Working Right Now Deal Structure and Terms Debt and Equity Financing Real Estate Funds vs Syndications Mentorship, Resources and Lessons Learned Useful links: https://www.bardowninvestments.com https://www.instagram.com/badashinvestor/?hl=en Transcription:   Jesse (0s): Welcome to the working capital real estate podcast. My name is Jesper galley. And on this show, we discuss all things real estate with investors and experts in a variety of industries that impact real estate. Whether you're looking at your first investment or raising your first fund, join me and let's build that portfolio one square foot at a time. All right, ladies and gentlemen, my name is Jesse for galley. I am host of working capital the real estate podcast. My guest today is a special guest that I'm speaking with a little bit later this year. Her name is Ashley Wilson. She is the co-founder and co-owner of bar down investments and house it look bar down, investments owns and operates, large apartment buildings and offers opportunities for investors who are looking to possibly own real estate. How's it look flips primarily higher end homes in the suburbs of Philadelphia, PA prior to real estate. Ashley worked in clinical R and D for GSK. Why? If I hope I said that, right. And Sanofi-Aventis Ashley, how's it going? Speaker 1 (60s): Great. Thank you so much for having me, Jesse. Speaker 0 (1m 2s): My pleasure. You know what? I didn't even give you the last introduction. She is the new owner of a adorable boxer, Harold. So if you hear anything in the background, that's just Harold messing around. But yeah, thanks again, Ashley. I really appreciate it. I'm excited to, to meet up again in person a little bit later this year at BP con, where we're both talking, I believe correct me if I'm wrong. It's October 3rd for anybody that is interested. Speaker 1 (1m 32s): Yep. First week in October. Speaker 0 (1m 34s): Perfect. Well actually, why don't, why don't I give it over to you in terms of a little bit of a background of your career, we can talk about, you know, deals right now and a little bit about the market, but before we do, maybe you can give listeners a little bit of a history of how you got into real estate. Speaker 1 (1m 51s): Absolutely. So as you mentioned, I was working in the pharmaceutical industry and my husband was a professional ice hockey player. So we were both looking for ways to diversify our retirement strategy. We weren't heavy believers in the stock market. We didn't like that. It wasn't an asset backed investment. It didn't have tax advantages. It wasn't, you know, a hedge against inflation. It just there's a lot of differen

Brandon Turner is an Active Real Estate Investor, Entrepreneur, Writer, and Podcaster. He is a Nationally Recognised Leader in the Real Estate Education Space and Has Taught Millions of People how to Find, Finance, and Manage Real Estate Investments. Brandon is about to Release “The Multifamily Millionaire” Volume 1 and Volume 2  In this episode we talked about: Regulations and Lockdown: NYC vs Hawaii The process of Underwriting Deals Asset Class Comparison How Deals are Structured Specifics of Mobile Homes Scaling a portfolio Macroeconomic Trends Raising Capital for Private Equity Deals Selling the Fund “Multifamily Millionaire” book The Investment Philosophy of Open Door Capital Useful links: https://store.biggerpockets.com/products/the-multifamily-millionaire-volume-i Transcriptions: Speaker 0 (0s): Welcome to the working capital real estate podcast. My name is Jesper galley. And on this show, we discuss all things real estate with investors and experts in a variety of industries that impact real estate. Whether you're looking at your first investment or raising your first fund, join me and let's build that portfolio one square foot at a time. All right guys and gals, my name's Jennifer galley, and you're listening to working capital the real estate podcasts. We have a returning guest on the show, Brandon Turner. He was our first guests ever on the podcast. Brandon holds a lot of titles. He's an investor. He's a, one of those VPs that BiggerPockets, and most recently he is about to release the multifamily millionaire and brand of correct me if I'm wrong. That's volume one and volume two. That Speaker 1 (49s): Is correct. That's all. That's a great introduction, man. Look well done. Well done. Speaker 0 (53s): I appreciate it, man. Well, it's good to, it's good to talk to you. It's it's crazy to think that, oh man, what has it been? It's almost 70 episodes now. So a year and yeah, you're in change and change quite some time. You know, nothing's really happened in the world over the last a year and a half. So Speaker 1 (1m 9s): It's been a pretty, pretty lame couple of years here. Nothing's happened in the world. So I don't really talk about today. Speaker 0 (1m 14s): Yeah. Real quiet. Well, yeah, listen, thank you. As a, as always for, you know, giving your time here. I know it's always nice to talk to you. Catch up, see what's going on in your world and, and talk real estate. So maybe on, you know, on that note, it has been a urine change. How how's everything been going with you? I guess first and foremost, you know, you, the family, everybody's all good. Yeah. It's been Speaker 1 (1m 38s): A weird year. I mean, Hawaii was like kind of like, you'd go to the beach. I live in Maui for those who didn't know that, but I go to the beach and it was like empty. Like, you'd be the only one on the beach. And we went from that to now you go to the beach and there's people sitting on you like everywhere you go. So it was such a stark drastic change. So yeah,

Marco Santarelli is an Investor, Author, Inc. 5000 Entrepreneur, and the Founder of Norada Real Estate Investments – a Nationwide Provider of Turnkey Cash-Flow Investment property.  His Mission is to help 1 million People Create Wealth and Passive Income and Put Them on the Path to Financial Freedom with Real Estate.  He’s also the host of the top-rated podcast – Passive Real Estate Investing. In this episode we talked about: Current State of the Economy The Pandemic vs Great Recession Property Appreciation Valuation Importance of Rental Growth Inflation Mortgage Rates Real Estate Outlook 2022 Mentorship, Resources and Lessons Learned Useful links: https://www.noradarealestate.com/marco-santarelli/ https://www.linkedin.com/in/marcosantarelli/ Transcription: Jesse (0s): Welcome to the working capital real estate podcast. My name's Jesper galley. And on this show, we discuss all things real estate with investors and experts in a variety of industries that impact real estate. Whether you're looking at your first investment or raising your first fund, join me and let's build that portfolio one square foot at a time.    Jesse (22s): All right, ladies and gentlemen, welcome to working capital the real estate podcast. My name's Jessie for galley and my guest today is Marco Sante. Reli Marco is an investor author, Inc. 1000 entrepreneur and the founder of neurotra real estate investments. The largest nationwide provider of turnkey cashflow, investment properties, and a returning guests. Marco, how's it going?    Marco (44s): It's going great, Jesse. How are you?    Jesse (46s): I'm doing fantastic. You know what, actually, before the show, I forgot to ask you, where are you joining us from today? Southern California. Same base, same spot.    Marco (56s): Yes, but I am a fellow Canadian, so I grew up in Calgary.    Jesse (1m 2s): That's right. That's right. We talked to, we talked a little bit about that last time on the show. Well, it's great to have a fellow Canadian on the show and just a west coast vantage point in the states. How's everything been going a lot is we were just kind of laughing at how long it's been since the last time. Last time we spoke on the podcast.    Marco (1m 20s): Yeah. It felt like two months ago, but really it was about a year ago. So I can't believe how fast time flies. It's just crazy, but I know things, things have been, things have been humming along. I mean, we can talk about the economy in general, but things have been crazy over the last year and I'm sure it's been that way in Canada. You know, COVID kind of put a damper on things for a while, as you know, and I think it drove people a little crazy, not being able to go to the restaurants and do a lot of the things they normally do. And I think people just being cooped up at the house, especially with work, drove some people a little bit stir crazy, and now we're starting to se

Brian Beaulieu has served as CEO and Chief Economist of ITR EconomicsTM since 1987, where he Researches the Use of Business Cycle Analysis and Economic Forecasting as Tools for Improving profitability. Brian has shared his Highly Valued Research Results via Presentations, Workshops, and Seminars in Numerous Countries to Hundreds of thousands of Business Owners and Executives for the last 38 years. In this episode we talked about: Brian`s Background Economic Outlook for 2021- 2022 Interest Rates Inflation The Federal Reserve Modern Monetary Theory Austrian Economy Overview The Real Estate Prospective Bulding Manufactured Housing Safety of the US dollar The Overview of Real Estate Opportunities Mentorship, Resources and Lessons Learned Useful links: https://www.itreconomics.com/brian-beaulieu brian@itreconomics.com Transcription: Jesse (0s): Welcome to the working capital real estate podcast. My name is Jesse Fragale. And on this show, we discuss all things real estate with investors and experts in a variety of industries that impact real estate. Whether you're looking at your first investment or raising your first fund, join me and let's build that portfolio one square foot at a time. Welcome to working capital the real estate podcast. My name is Jesse for galley and my guest today is Brian Ballou. Brian has served as CEO and chief economists of ITR economics since 1987, where you research is the use of business cycle analysis and economic forecasting as tools for improving profitability.    Brian has shared his highly valued research results with via presentations, workshops, and seminars in numerous countries to hundreds of thousands of business owners and executives for the last 38 years. And Brian and I will be speaking in October in new Orleans for the bigger pockets conference, BP con Brian, how's it going?    Brian (1m 1s): It's going pretty well. Just me. How about you?    Jesse (1m 4s): I'm doing great. Doing great. You know, we're kind of, we're in a good spot right now in Toronto. Weather-wise Italy's moving to the final and in the Euro. So,    Brian (1m 15s): You know, everything's everything's okay.    Jesse (1m 21s): So we've talked a little bit before the show. You're joining us from New Hampshire today. Brian, is that, is that home for you?    Brian (1m 29s): No, home is Marco island. We summer up here in New Hampshire and here we are right on. Yeah.    Jesse (1m 36s): Well, I'm very excited to have you on the show as listeners know, I'm a bit, a bit, I'm a bit of a economics geek and I love looking at real estate through the lens of, of macro and micro trends, you know, when it comes to investing and, and ultimately forecasting where we think real estate is going to go. And another thing we tal

Bader Elkhatib is a Vice President at CentreCourt. Prior to joining CentreCourt, Bader worked as an Investment Associate for Tricon Capital Group, a Real Estate Private Equity firm, and prior to that he worked as an Analyst in Investment Banking at CIBC Capital Markets. In this episode we talked about: Bader`s background Bader`s first Real Estate deal The Transition from Tricorn Capital Group to CentreCourt Bader’s Investment Philosophy Land Assembly Real Estate Development Replacement of Rental Housing 2021-2022 Real Estate Prospectives and Opportunities Mentorship, Resources and Lessons Learned Transcriptions: Jesse (0s): Welcome to the working capital real estate podcast. My name is Jesper galley. And on this show, we discuss all things real estate with investors and experts in a variety of industries that impact real estate. Whether you're looking at your first investment or raising your first fund, join me and let's build that portfolio one square foot at a time. Ladies and gentlemen, welcome to working capital my name's Jesse for galleon today, I have better Elica deed. He is vice president at center court. Prior to joining center court batter worked as an investment associate for Tricon capital group, a real estate, private equity firm.    And prior to that, he worked as an analyst and investment banking at CIVC capital markets. And today we're talking all things, acquisition, all things development better. How's it going?    Bader (47s): No complaints. It's a 38 degrees outside and then my basement is good.    Jesse (52s): Yeah, I was going to say, I just, I totally forgot today. We have Italy versus Spain. Hopefully by the time I'm listening to this, we have one and have advanced to the finals, but yeah, it's, it is quite hot in, in Toronto. Right now. It is close to 40 or feels like 40.    Bader (1m 9s): Well, I'm sorry to keep you on the, on the line in that. How have you known him? He was playing Spain. I think we would have moved the call.    Jesse (1m 15s): No sweat. I'm one eye is looking to the, to the screen here, but no, thank you so much for coming on. Really appreciate you taking the time. I thought listeners would get a lot out of somebody from your background in real estate. And talk a little bit about development, how, you know, center court, underwrites assets, and just kind of your general path in, in the real estate industry. So on that note, maybe where we could start is a little bit about your background.    I mentioned Tricon CIVC for listeners. Give a little bit of a background and how you got into this, this world of real estate.    Bader (1m 54s): Yeah, so it's, I mean, pretty interesting story. I guess I, my graduated, I thought I was going to be in the tech space. I thoug

Scott Trench is the CEO and President of BiggerPockets. Scott has Dedicated his Career to Helping ordinary Americans Build Wealth in Part through Real Estate Investing. Since joining BiggerPockets in 2014, Scott has Authored the Bestselling Wealth-building book “Set for Life” and joined Mindy Jensen as Co-host of the BiggerPockets Money Podcast. In this episode we talked about: Founding a tiny Startup called BiggerPockets Scott’s first real estate purchase Scott’s Professional Development The Evolution of Scott’s Investing Career 2014-2021 Partnerships Publishing with BiggerPockets Life as the CEO The Money Podcast 2021-2022 Outlook Mentorship, Resources and Lessons Learned Useful links: https://www.biggerpockets.com/users/scotttrench Instagram @scott_trench Transcriptions: Jesse (0s): Welcome to the working capital real estate podcast. My name is Jesper galley. And on this show, we discuss all things real estate with investors and experts in a variety of industries that impact real estate. Whether you're looking at your first investment or raising your first fund, join me and let's build that portfolio one square foot at a time. All right, ladies gentlemen, welcome to working capital the real estate podcast. I'm Jennifer galley and my special guest today. As usual as Scott trench, Scott trench is the CEO and president of bigger pockets.    Scott has dedicated his career to helping ordinary Americans build wealth in part through real estate investing. Since joining BiggerPockets in 2014, Scott has authored the bestselling wealth building book set for life and joined Mindy Jensen as cohost of the bigger pockets, money podcast, Scott, how's it going? Hey,    Scott (52s): It's going great. Thanks for having me.    Jesse (54s): Yeah, my pleasure to have you good to finally connect. I don't know if, if you were at BP con last, was it now two years ago when we were in Austin, Texas, where are you at that event?    Scott (1m 5s): I was at, well, I, I w we had one in Nashville, Tennessee. That was that. Yeah, it was, I was at that one    Jesse (1m 11s): Nashville. Now I'm mixing them up. I was in Austin for another real estate thing. Yeah, absolutely. It was a national first thing I did. I got off the plane. Just see you guy holding a guitar. I'm like, I'm in Nashville.    Scott (1m 21s): Yeah. I went to school there and it's a wonderful city, you know, maybe might've influenced that as the choice for the, the conference back then, but awesome.    Jesse (1m 30s): So, yeah, I guess I probably would have crossed paths with you at that point, but I didn't realize that you were with the organization for, for such a long time in 2014. So back then, how did, how did you get your start with, with that organization?    Scott (1m 45s): Yeah, so I joined BiggerPockets, well, I started my career as a financial analyst at a fortune 500 company, and immediately decided I wanted to become financially free rather than climb the corporate ladder. And so I found a company called BiggerPockets and their podcasts and started listening to it and thinking about real estate investing and early retirement, the fire movements. And so I kind of combined the two spent as little as I possibly could and bought a house hack one year out of college after saving up my, my funds and simultaneously, you know, I st

James Scott is an Entrepreneur, Investor, Advisor, Author and General Partner partner at Bar Down Investments, focused on buying and repositioning Large Multifamily Properties. In the past two years James Scott bough, built, sold, rehabbed, lent on and held over 70 millions in Property all around the country. James holds Advisor Roles in several companies and is the Author of BiggerPockets books, including "The Book on Flipping Houses" In this episode we talked about: James’s background How James got interested in real estate First 20 Million Dollar Deal Deal size and the management ‘sweet spot’ Market Rates and Valuation Scaling a Portfolio Property Management 2021/2022 Opportunities Mentorship, Resources and Lessons Learned Useful links: www.connectwithjscott.com Transcription: Jesse (0s): Welcome to the working capital real estate podcast. My name is Jesper galley. And on this show, we discuss all things real estate with investors and experts in a variety of industries that impact real estate. Whether you're looking at your first investment or raising your first fund, join me and let's build that portfolio one square foot at a time. All right, ladies and gentlemen, welcome to working capital the real estate podcast. I've a special guest as usual. His name is Jay Scott. He's an entrepreneur investor advisor, author and partner at bar down investments focused on buying and repositioning large multi-family properties.    In the past 12 years, Jay has bought built rehab sold, lent on and held over 70 million in property all around the country. Jay holds advisory roles in several companies and is the author of bigger pockets book on real estate investing, including the best selling the book on flipping houses. Find out more about Jay we'll put it in the show notes, connect with jake.com. Jay. Great, great. Thanks Jesse. I appreciate you having me here. Absolutely. You just mentioned that you're basking in the sun and Sarasota or not so much,    James (1m 8s): Not so much. Normally we'd be basking in the sun, but I'm in the middle of a really bad thunderstorm. So if anybody hears some loud crashes in the back, you'll know why. Yeah. Eric    Jesse (1m 17s): Just saying we'll have to mute, unmute the mic. Well, Jay, thanks so much for coming on. Really happy to be able to spend the next little while with you. We were both. I saw you on the list for the BP con or bigger pockets con conference. For those that don't know, 2021 is on in new Orleans and you're going to be a, a speaker. I    James (1m 36s): Am, I actually, I spoke back at the original bigger pockets conference back in 2012. Most people probably don't even remember that there was a bigger pockets conference back then. It was a small little thing that Josh dork and the founder put together. And then since then I've written four books for, for BiggerPockets and, and I'm an advisor for the company. And I'm

Chris Prefontaine is a three times Best Selling Author of Real Estate on Your Terms, The New Rules of Real Estate Investing, and Moneeka Sawyer’s Real Estate Investing for Women. He’s also the Founder and CEO of SmartRealEstateCoach.com and host of the Smart Real Estate Coach Podcast. In this episode we talked about: How Chris got into Real Estate The “On Terms” investment strategy Non-bank financing Owner financing Principal only payments Family run businesses Importance of value and mission statements The value of discipline The power of self accountability The impact of Great Recession on Real Estate profitability Searching for Deals Distribution of Team Roles Opportunities in 2021 Mentorship, Resources and Lessons Learned Useful links: https://smartrealestatecoach.com Transcription: Jesse (0s): Welcome to the working capital real estate podcast. My name is Jesper galley. And on this show, we discuss all things real estate with investors and experts in a variety of industries that impact real estate. Whether you're looking at your first investment or raising your first fund, join me and let's build that portfolio one square foot at a time. All right, ladies and gentlemen, welcome to working capital the real estate podcast. My name is Jesse Fragale and my special guest today is Chris Prefontaine. Chris is a three-time bestselling author of real estate on your terms, the new rules of real estate investing and when Nika Sawyer is real estate investing for women, he's also the founder and CEO of smart real estate coach.com and the host of smart real estate coach podcast.    Chris, how's it going?    Chris (47s): I am doing awesome. Thanks Jesse. Thanks for having me on.    Jesse (50s): Yeah, my pleasure. Like I was saying before the show, we're very happy to have you on, I did get a copy of your book. I believe the one I received was new rules of real estate investing. I brought that into, into the brokerage into the office. So a lot of good stuff in there. I found it really interesting just because it took a little bit of a different approach as it was kind of a best or greatest hits of different people and different experts giving their view. So hopefully we can get into that. How's everything been. I mean, we're in a bit of a unique world right now.    How have you, how have you been fairing over the last, the last year or so?    Chris (1m 27s): Yeah, we're super busy. I hate to, I hesitate all the time to say that, cause I know some people get hurt, but literally from April 1st, 2020, we have crank and it got a little tight with the market being so crazy these last few months, but we're literally, as of this morning, seeing the people commenting and the deals going up through the roof

Matt Gouge has spent 5 years in direct lending before making a switch to Independent Mortgage Broker in 2018. As an Independent Mortgage broker he takes private advising to the wide variety of clients with diverse needs. Matt`s background Entering the Mortgage business Matt’s first investment Business Overview during the 08-09 recession How to grow a real estate business Interest rates and inflation Where Matt is looking for deals Building a team Real estate marketing Investment outlook Mentorship, Resources and Lessons Learned Useful links: https://www.youtube.com/channel/UCq2XM1Q4PXs-msULABdk2Yw https://mattthemortgageguy.com Transcriptions: Jesse (0s): Welcome to the working capital real estate podcast. My name is Jesse Fragale. And on this show, we discuss all things real estate with investors and experts in a variety of industries that impact real estate. Whether you're looking at your first investment or raising your first fund, join me and let's build that portfolio one square foot at a time. Ladies and gentlemen, welcome to working capital the real estate podcast. My name is Jesper galley and my special guest today is Matt. Matt has spent five years in direct lending before making the switch to independent mortgage broker in 2018 as an independent mortgage broker.  He takes pride in advising a wide variety of clients with diverse needs as to which lender and loan product is right for them. So today we're going to be talking about all things, investing, all things, mortgages, Matt, how's it going? Oh, it's going great. How are you doing Jesse? I'm doing great, man. The sun is out. It's a beautiful day down here. How's it up in Sacramento, same, same thing.  Matt (56s): And I get this when I record something on YouTube or court's on anywhere. They're like you're in California where it's hot and you're wearing a jacket inside my office freezing cold. So it's, it's 66 in my office, but outside it's, it's probably mid eighties. That'll get to see out that often with as busy as mortgage has been these last few years, but I assure you it's, it's sunny in California still.  Jesse (1m 16s): Yeah, well, it's a pretty topical to be talking mortgages right now. I think over the last few podcasts and just in general, you know, everything has been spotlight on where interest rates are at inflation, you know, the impact of this stimulus. And I'm sure you're seeing a ton of volume right now just given the fact that there's so much capital out there,  Matt (1m 35s): Right? Yeah. There's so much capital and there's so much demand for real estate. That's what people don't realize is like sure. We have a supply problem where, you know, the supply demand imbalance causes this run-up in real estate. You know, you've got viewers that are in Canada, they're seeing similar stuff, but in the United States, we've got price appreciation of 15, 17% sure that, that we need more supply and not enough was built in last 10 years, but nobody's really talking about the fact that like we're on pace to have 7 million sales in 2021, which is like a 20% uptick from previous years when the average year sees about five and a half million sales.  So plenty of demand, I'm surely not lacking in, in business or incoming, you know, loan applications.  Jesse (2m 15s): Yeah, absolutely. Well, I can't remember which guests we had on and put said, there's always that conundrum or that thing in real estate when t

Brittany Arnason is a full-time commercial real estate investor and social media influencer, commercial real estate junkie, DIY Junkie, retired power engineer, author and speaker. Brittany’s Initial steps in Real Estate Getting into constructing  The power of Instagram and marketing The ups and downs of DIY projects How Brittany’s career has evolved Opportunities for investing in the US Her investment philosophy Structuring of self-storages deals Investment geography Distribution of team roles The impact of lockdowns Mentorship, Resources and Lessons Learned Useful links: https://instagram.com/investorgirlbritt?utm_medium=copy_link https://brittanyarnason.com/ Transcriptions: Jesse (0s): Welcome to the working capital real estate podcast. My name is Jesse Fragale. And on this show, we discuss all things real estate with investors and experts in a variety of industries that impact real estate. Whether you're looking at your first investment or raising your first fund, join me and let's build that portfolio one square foot at a time. All right, ladies and gentlemen, welcome to working capital the real estate podcast. I'm Jennifer galley and my special guest today is Brittany Arneson. Brittany is a full-time commercial real estate investor.  And I think you just have to take one, look at horror at her Instagram page to really get a sense of what she does. Commercial real estate junkie, a DIY jaggy, retired power engineer, author, speaker, educator, and investor. Britney. How are you doing today?  Brittany (47s): I'm really good. Glad to be here. Thanks for having me. My pleasure.  Jesse (51s): So we talked a little bit before the show about past guests saying that you have to have Brittany on, you have to have Brittany on, I've been following you on Instagram, on your DIY projects for probably over a year now, maybe longer, really inspiring stuff. So thank you again for coming on. And I think it's going to be a treat today.  Brittany (1m 9s): I appreciate it.  Jesse (1m 11s): So Brittney, on the show pretty standard for us is to have guests come on, take a step back and talk a little bit about real estate in general and how they got into the industry and what their, you know, initial steps in the journey were.  Brittany (1m 27s): Yeah, so I got started super young. I bought my first house at 18 years old and so I've been in real estate over 10 years now. And really I got started when I was even younger than that. Cause my mom owned rental properties and she would get my brother and I to help her out with renovations, but just kind of where you can see that DIY stuff filtering through my Instagram page, but got started with her. She would just, you know, hand me a paint brush and say, get to work kid, help me out. I can't pay people. So I want to just get, so that was fun.  Learned a ton from her. And then I was always really motivated throughout high school and everything to buy my first house. So, but one in Saskatchewan, if anyone knows where that is talking to it, talking to a kid from Toronto. So yeah, totally. All my American friends are like, huh, what's the schedule. It's kind of like in the center of Canada where all those super cheap properties are and have family out in Saskatchewan and notice that the properties were quite cheap.