Jason starts the show with investment counselor Adam as they talk about a new commandment to real estate investing. They talk about how to protect yourself from CEOs taking advantage of stockholders. Then Jason talks about short term rentals and emphasizes scrutinizing the numbers to make sure they work even if there’s an economic downturn.
trying to sell a house in 2010. And I just got a little frustrated with the potential buyers I was meeting and so I decided just to turn it into a rental. I currently own five properties. The one that I did originally live in I own three and written Little Rock as well as one in Mississippi. I am in those markets because I was super impressed with the turnkey operators that I met and super impressed with the renovations that they did the proper the management that they had, and basically it was one stop shopping and everything was in place when I basically I showed up with my money. I kept on investing in real estate because I realized it was just an awesome way to build my wealth. Not a lot of effort on my part. Basically once again show up with the money and see my money make money for me. I found Jason through my friend Elizabeth and been super impressed love his passion, love his enthusiasm
and not to mention seems extremely knowledgeable.
Welcome to the creating wealth show with Jason Hartman. You’re about to learn a new slant on investing some exciting times. techniques and fresh new approaches to the world’s most historically proven asset class that will enable you to create more wealth and freedom than you ever thought possible. Jason is a genuine self made multi millionaire who’s actually been there and done it. He’s a successful investor, lender, developer and entrepreneur who’s owned properties in 11 states had hundreds of tenants and been involved in thousands of real estate transactions. This program will help you follow in Jason’s footsteps on the road to your financial independence day. You really can do it. And now here’s your host, Jason Hartman with the complete solution for real estate investors.
Jason Hartman 1:42
Welcome to Episode 1199 1199. This is your organic, gluten free non GMO Fairtrade host, Jason Hartman. Adam, you’re with me? How are you? Did you know that I’m fair trade gluten free. Organic,
non GMO, I knew most of those things I did not know your fair trade, okay. So,
Jason Hartman 2:05
some listener out there will know better than I, I have read the Wikipedia entry on fair trade. I have had discussions with left wing friends who are in the e commerce space on fair trade who claimed their products are fair trade. And I am still rather puzzled as to what fair trade is. I think fair trade is when a buyer and a seller agreed to do business together and they are not forced by the government or even influenced by some feel good lefty idea that that allows you to put something on your label and think of yourself as some kind of social justice warrior. I think fair trade is largely BS. Am I wrong about this? Maybe usually just think of fair trade as more expensive than what is going on in the world. Well, What do you think of Elon Musk compensation package last year?
I think I wouldn’t mind having it
Jason Hartman 3:06
513 million dollars. Now, arguably Tesla is on the brink of failure. But Elon Musk paid himself over half a billion dollars 513 million dollars. commandment number three, thou shalt maintain control. Thou shalt not invest in these pooled money assets, stocks, mutual funds, etc. Because you might be investing with a crook, you might be investing with an idiot. But even if they’re honest and competent, they take a huge management fee off the top for managing the deal. So if you are an investor in Tesla, a company that arguably is on the brink of failure, nobody knows yet. They might keep raising money, because they’ve got a lot of fanboys out there. But uh, wow. half a billion dollars. That’s pretty good. He The most highly compensated CEO
Yeah, they say some of it came or a lot of it, they say came from stock options. And really all that does is make him richer and you poor if you’re an investor in it,
Jason Hartman 4:10
right and the there are so many stock options scams, it is unbelievable. You know, Steve Jobs was accused, I should say, of backdating stock options and running all sorts of scams. And of course, our resident self management client and expert drew Baker. I mean, he must know more about Tesla than anybody. He probably knows more about Tesla than Elon Musk. I don’t know. But yeah, all sorts of scams going with that. And, you know, this doesn’t even include the other C level executives and the boards of directors of these companies. So yeah, muskies in trouble with the SEC, but he paid himself half a billion dollars last year, so
not sure that doesn’t even include his travel and all the things that he writes off his company expenses and you don’t go to the company.
Jason Hartman 4:59
Yeah. course of course lots of private jet travel in his electric chat. joking about that it doesn’t exist because electric stuff is not ready for prime time solar
powered electric jet.
Jason Hartman 5:11
Yeah, solar powered electric jet. Yes, absolutely. Yeah non polluting Fairtrade non GMO and gluten free, by the way. Yes. So the company post a $1 billion loss, a $1 billion loss in 2018. And musk says he never wanted a salary. He is paid minimum wage to abide by the law, but doesn’t cash his checks. Okay, but somehow he got 513 million dollars in total compensation. So yeah, something else. Okay. So Brendan Kennedy, president of tilray. Now what I don’t even know what that is. 250 $6 million.
tilray is a cannabis distributor.
Jason Hartman 6:03
Ah, yeah, well, you know everybody’s smoking weed nowadays to make the population more apathetic, you know, so so so the government can roll over all of us right? cannabis. Wow, that’s number two i cannabis guy, huh?
Oh, he’s a most of his money came from pre IPO bonus so he benefited drastically from the whole boom and Weed Stocks.
Jason Hartman 6:27
Yeah. Yeah, surely really interesting, really interesting again, as I’ve said many times before on the show, I’m all for legalization of marijuana and we several other things. But I do think it might be a scam to just make the population more apathetic because, you know, people that are stoned don’t exactly hold rallies and riots and they don’t they don’t do much at all, frankly, so why So yeah, they’re pretty docile. It’s interesting, you know, when you compare the effects of marijuana versus alcohol, I mean people a lot of people with alcohol, they get really aggressive and very mean and feisty, but those two substances have kind of opposite effects, you know. Okay, so Bob Iger, we’ve all heard of Bob Iger, Disney, of course. 140 $6 million. Tim Cook of Apple now. Hey, you know, I’m not complaining about Tim Cook. I think he’s all right. Nikesh, Aurora, Palo Alto Networks 130 million dollars. We look down the list and we see David Zaslav, CEO and president of discovery Inc. 120 $2 million. And you know, you go down the list and you see the lowest paid in the top 10 CEOs was $66 million.
Wow, that’s chump change.
Jason Hartman 7:58
chump change Yeah, enlists Folks, I don’t mind any of that, as long as their stock is doing well, and their shareholders are making a lot of money. I’m all for it. I’m a capitalist. But the problem is there’s this huge disconnect between the pain of the boards of directors, the CEOs, the other executives, and the shareholders and that that is what’s wrong. And that is why you have to follow my commandment number three, thou shalt maintain control, so you don’t leave yourself susceptible to these legalized scams. Adam, when I was in Savannah, I was on a radio show there. And I created a new commandment. commandment number 21. Yes, we had 10 commandments. I created those back in 2004. Then we had the next 10 commandments. We announced those that meet the Masters in maybe 2010. Okay, six years apart, maybe, but I came up with commandment to 21 right live on the radio in Savannah, Georgia, right after our venture Alliance mastermind retreat. Do you want to know what it is?
I do? It’s interesting you did it on radio instead of your
Jason Hartman 9:11
podcast. Yeah, it was on terrestrial radio. I know that old fashioned medium. No wonder you thought about commandments
since those are old school and says radio.
Jason Hartman 9:19
Yeah, and commandments are old school. Yeah, that’s good point. So here’s commandment 21. And folks, you’re ready for this the first time we’re talking about this. commandment number 21. Is thou shalt avoid manias. Thou shalt avoid manias. So whether it is a cryptocurrency mania, a gold bug mania, any manias, I was talking about it in the context of Airbnb, which is a little bit of a mania. Just avoid manias, you know, invest in stable, proven things. I know the manias get very tempting to invest That cyclical market versus the good old fashioned linear market. That’s a mania. Lots of mania is out there, lots of things where you can lose money by following the herd and investing in the mania. So commandment number 21 officially right now, and we’ll probably need to come up with nine more so we can have an even 30 commandments of successful investing. Thou shalt avoid manias. tulip bubbles. You know, what do you what do you think tulip bulbs and the two medical marijuana? Yeah, yeah. IPOs Yeah, well, hey, what if you would have invested in the lift and Uber? IPOs right, and more mania
thought about that before they happen. I mean, and it’s happened since they succeed with crashing
Jason Hartman 10:45
Yeah, avoid manias, folks. on this show. We talk about good, solid, conservative, long term investments, things that will actually create wealth for you versus some trend of the day some flavor The day some hip new thing that is probably a flash in the pan like most of these manias are we like, you know, things that are reliable?
Yeah, so speaking of Savannah, how did the venture Alliance mastermind thing go? I sorry, I couldn’t make it. But uh, tell me about it.
Jason Hartman 11:18
That was a fantastic weekend. You know, we have these venture Alliance mastermind retreats, and then we have the adventure Alliance trips. And I want to tell you all about this one, Adam, but before we do, why don’t we play a little clip where I recently I recently had a are basically our cruise planner that is planning our upcoming venture Alliance mastermind at see the first one. It’s an add venture Alliance trip, and that is to go to Grand Cayman Cuba and Jamaica, coming up in November. And the reason I want to play this today, just it’s just a little few minutes here is because Folks, you need to get busy registering for our upcoming cruise and you can come as a guest. You do not have to be a member of the venture Alliance to come but many venture Alliance members will of course be there. It’s a week long trip. It’s a cruise and it’s our first one. And in cruise time, it’s late. It’s late in the game. So get your tickets Jason hartman.com slash cruise. Let’s play a little clip. We’ll talk about what we learned in Savannah about tax lien and tax deed investing. And we’ll be back with that in just a moment. Here’s the clip. As all of you regular listeners know, I am so excited about our upcoming cruise. We are going to Cuba, the most interesting country in the Western Hemisphere and probably the second most interesting country on Earth. Very exciting place. We’re also going to Grand Cayman and Jamaica, leaving out of beautiful Fort Lauderdale. So really we have four destinations. Because Fort Lauderdale certainly one of them. I’ve got our cruise planner here with us, Pat, welcome. How are you? I’m doing real well Jason, thank you for having me on. I gotta say congratulations, you were just recognized as one of a very small elite and exclusive group of luxury cruise advisors. Tell us about that.
I am really honored to be part of this group. It says signature travel network. And they selected eight travel advisors in the United States and Canada to be part of this. Select group, travel agent select on the luxury market. So I’m very excited about that. And I got to tell you, you have been just
Jason Hartman 13:48
excellent planning our very first cruise event. I’m so excited about it. I love cruising. I’ve been on I think nine cruises now that it’s my absolute favorite way to travel because it’s so easy, you just unpack one time and pack one time and you get to go to all these beautiful places. And it’s just first class now, Holland America Line, where you booked our cruise. I took a Holland America cruise years ago to Alaska. And that is a really luxury cruise line. One of the things I want to say is that Cuba does not have the big giant ports for these mega ships. You know, you might not even want to consider one of these ridiculous 5000 person ships, but they don’t go to Cuba because they don’t have the facilities for them. So this is far and away the best cruise that includes Cuba in the itinerary. I believe it is because I looked at everything. I think everything you looked at. Do you have any thoughts about that?
That’s absolutely right, Jason that the ports in Cuba do not have the capacity to handle larger ships. The infrastructure there in Cuba certainly cannot handle an influx of 4000 people. So the ships that are sailing there are the smaller vessels. And this is definitely the best of the group that was sailing during the time period that we were looking at. And that’s not a bad thing because you got the smaller intimate ships. It’s the nice atmosphere on board. It’s now you’re not gonna find a hairy chest contest on board, climbing walls, you’re gonna, you’re gonna that you are going to find excellence food and service and a lovely traditional on Beyonce on this ship. Yeah, I agree. I mean, Holland America is really a nice high end cruise line. So that’s great. Tell us about our different ports of call. We started in Fort Lauderdale. You know, and everybody is probably familiar with that. Havana is just Cuba in general is just in a time warp all its own and it’s kind of taking a big step back. Time and
Jason Hartman 16:01
I always say it’s like going to 1959. It’s like going back in time I was there about 12 years ago, maybe? I don’t know, maybe 14 years ago now. Anyway, I’ve been to Cuba, and I just can’t wait to go back because it’s such a fascinating place. It really is.
It absolutely is. It’s colorful, and the chairman the people are so warm and welcoming. It’s just a great place to visit us and let’s go now before
Jason Hartman 16:30
it gets spoiled, you know, still authentic. I hate to even say that path that it could be spoiled by capitalism. But I think you know, get there before all the Coca Cola signs show up. Okay. It’s more,
right, right. Well, it’s still there. Then after Hosea, we will move on to see and flay ghostess is another lovely city, its capital of a province. They’re just a lot of charm. A little smaller city. It remains really one of the country’s biggest commercial centers, big trading area, an area of commerce for Cuba. So that’s a very charming port of call also. Then we move on to otro Rios, Jamaica and make them on Jamaica. Yes it and we have wonderful excursions planned. Also, we’re going to be doing private group excursions that and we’ll be doing, Havana will be doing Hemingway’s Havana tour, and it’ll just be our group doing that. We’ll have another excursion and see and play goes otro Rios, we’re going to kick back and play on on that one that we’ve got a just a fun excursion there as a river float. And as he does kick back in the tube, and it’s beautiful, the water shallow and it’s beautiful, and it’s fun, and it’s just relaxing. So that’ll be a great day there. And then we’re going to this financial capital or I guess the offshore banking capital of maybe the entire world, certainly of the Western Hemisphere, right? And that’s a Grand Cayman. Yes, yes. Famous firm for many things, among them, this incredible Seven Mile Beach that is beyond belief, but we’re going to be doing something a little different. There we have, we’re putting together a private lunch and one of the nicest restaurants anywhere on the island. And it’s just going to be our group. We’re going to have a special speaker in there as well as a lunch so it’s going to be something special and and just really a chance to learn more about how this offshore banking kind of stuff how that really works, and they may touch on investment opportunities that might exist there too. certainly plenty of time to get questions answered. Just kind of things you’ve always been curious about. We’ll have somebody there who can answer those questions. You know, everybody listening is going to take a vacation.
Jason Hartman 19:07
Why not take it with us make it tax deductible, talk to your tax advisor on what percentage of it you can deduct, but you certainly can deduct some of it. Take your vacation with us with a bunch of like minded people, with real estate investors with entrepreneurs, people that are going places, you know, it’s so stimulating every time I come from one of our venture Alliance mastermind meetings, and we always allow people to come as a guest. Of course, they don’t get the member pricing but it’s still very good pricing for this trip. Remember, it includes a whole bunch of extras with the event. So you know, we’ll be having meetings on board the ship will do our usual mastermind stuff will do hot seats. I’m working on getting a couple of good speakers to come along on the trip is just going to be a great Racing and impact. One of the most important things in my life and the lives of many others is available to our guests on this trip and that is high speed Wi Fi.
Absolutely, absolutely. cruise ships were famous for having low speed. connectivity is much improved over what it was just just a couple of years ago. So they’re making leaps and bounds and so no need to worry about that. You will be connected. Yeah,
Jason Hartman 20:31
yeah, absolutely. And it’s not that expensive either. It’s just you can buy I believe it’s a premium unlimited package for 139 bucks for the whole trip and, and I believe you’re allowed to connect multiple devices so you can have your phone, your laptop, etc. So it’s just going to be a great trip. You know, you can buy trip cancellation insurance if need be. It’ll just be a first class event and we will have our annual profits and paradise event. in Fort Lauderdale on either side of this trip, we haven’t scheduled that yet. But it’ll be either right before or right after the cruise. So you can do both events. You’ll have a couple days to spend in Fort Lauderdale or anywhere in South Florida. In between them. It’ll just be great. What else do you want people to know? you’ve planned about 50 or 60 of these cruises Pat and you’ve booked I don’t know, probably hundreds or thousands of cruises for individual people. But for groups, you’ve planned about 50 or 60 of these. It’s really a special thing when a group goes you know,
it just multiplies the sun Jason, this is not just a cruise and it’s not just a meetings. This is really a whole package. It is a special event. We just take all of the Sun we just package up there’s going to be so much going on. Get together each night at dinner and share experiences get to networking opportunities will abound. You know, free You to really get to know your travel companions here. Yeah, that’s absolutely right. And, and hang out with you Jason, you know, well,
Jason Hartman 22:11
I’m okay. But it’s really the group. That’s the most important thing. Yeah, yeah, everybody would really get an opportunity to get to know each other. We’re gonna have a couple of onboard parties. Some unexpected extras could possibly show up. We do round robin dining, we have this group of tables, and you can sit with somebody different each night so you’re not stuck just talking to one couple. You’re going to be able to move around and meet different people. It’s something just really really special, unforgettable. You know, we really try at the venture Alliance we try to do once in a lifetime experiences. We took the group to Dubai. Hawaii, of course was recent event Hawaii, Hawaii, to the Ice Hotel in Sweden in this year. It is the cruise to Cuba, Jamaica and Grand Cayman So we really think this will be a once in a lifetime trip, memories that will last a lifetime. You can bring the whole family you can bring kids along, of course bring your significant other or come solo. We’ll have people doing all of the above. Currently we’ve got some early bird pricing, the next two price increments, and on June 4, we’ve got early bird pricing until then, and then June 25 is the last special pricing and starting at 20 $750. And remember, this includes pretty much everything. I mean your port charges your government fees, your taxes in your gratuities. It includes your meals, amenities, excursions, private lunch and mastermind sessions, the whole thing people pay $2,000 for one person or 3000 for two people just to come to a weekend venture Alliance mastermind retreat and here you get a week off cruise with all of this stuff included. Heck, it’s cheaper than staying home.
You can’t duplicate the value of something like this. You really can’t.
Jason Hartman 24:10
So we look forward to seeing you all there. Go to Jason hartman.com and register today. This is really in cruise time and cruise planning time. This is right around the corner. So Jason Hartman. com Register today. And Pat, Thanks for the info. My pleasure.
Jason Hartman 24:32
So Adam, I hope you’re gonna join us on that ad venture Alliance cruise.
It’s going to be neat. I’m going to try my best no guarantees, you know, the four kids and the wife can be a little tough to get away for a whole week but i’ll i’ll give it my best
Jason Hartman 24:45
Well, that’s another thing I’m I should mention, you know, people can bring their kids on this trip, you know, make it a family trip, if you like, feel free to bring the kids I mean, that’s what an incredible experience. Now you got a couple of really young kids you’re twins. But Wow. For your kids to go to a place like Cuba, the most interesting country in the Western Hemisphere, Cuba, I was there about, I don’t know, 15 years ago, something like that. And it is a fascinating place. And you know, of course, Grand Cayman Jamaica, that’ll be awesome too. And just a great thing. It’ll be just a great vacation. You’re welcome to bring the family. So that’s all available to anybody listening, but I hope you’ll join us for that. Jason Hartman comm slash cruise the weekend in Savannah with a venture Alliance. It was just a great trip. And we started off Friday evening at a kind of an English pub restaurant, and just had a great dinner together. We had two guests on this trip. I think they really enjoyed it as well. So it was it was great to have a couple of guests one with an experience in investment banking and real estate investing. So it was a great trip, you know, experience in the movie industry and the film industry and another one of our guests That puts on some great musicals with a message, part of a nationwide organization that does that all around the country. So it’s always great to have guests there, but our members as well. And we didn’t do this as a typical venture Alliance mastermind retreat, where we have a lot of formalized interaction with hot seats and so forth. Because the first day Saturday after we had breakfast together, we just spent the time talking about tax sale investing. Our speaker, my friend Julia came in and she really taught us about the nitty gritty, not selling anything, okay. Just a real content rich presentation about the different states the different areas where you can invest in tax liens and tax deeds. One of our newest members Jeff actually purchased or not purchased, but bid on, think about $50,000 worth of tax instruments right? After the event, he thought no better done in the present. He was on his computer. He created an account in the Florida market in the Tampa, Florida area. He bid on several tax liens and maybe some tax deeds, I’m not sure but tax liens for sure. There is a difference between a lien and the deed is a tax instrument we talked about that. We just learned all about it really like a very practical in depth presentation, looking at how to analyze the properties on which to bid looking at the websites for a couple of different municipalities that hold these auctions every month. It was just a fantastic, fantastic retreat. And then Saturday afternoon, we went to a nice lunch together at a restaurant called prohibition. Savannah has got about, you know, quite a few prohibition type places and that was neat. And then we went to the Mercer Williams house and we had a private tour of the Mercer Williams mansion. And that was the scene for a couple of movies. Probably the most notable one being midnight in the garden of good and evil. That was really neat to go through and see all the antiques and so forth. And then I hired a private shuttle to pick us up with a an expert guide who toured us around Savannah and what a neat city with all of these squares, and it’s amazing how well they really did urban planning a couple hundred years ago. That that really surprised me, Adam. It’s just really a beautiful city. Really nice, really nice.
So now I have to ask you Did the mastermind. But then you were still gone? A few more days? Yes. And you went to see some of the properties that were able to purchase through the network. And I want to know about those because they’re new properties or new builds, and I need to know more about them.
Jason Hartman 28:53
Absolutely. My girlfriend and I drove back and so this was a road trip this you know, Savannah is not Too far from where I live in Florida. On the way back, we stopped in Jacksonville. You saw some of the properties there, many of them that many of our clients listening have purchased in Jacksonville, Florida. Those looked great. Of course, the inventory is very scarce. We met with one of our property management teams there and they toured us around. We stayed the night in St. Augustine, Florida, America’s oldest city. I had been to, of course, Jacksonville in St. Augustine before a few times. But there again, we stayed at the Casa Monica resort, which was just a beautiful old hotel. Really, really neat. And then in the morning, yesterday morning, we woke up and we met with our local market specialist for St. Augustine and he toured us around, we saw some of the properties that our clients purchased. And the interesting thing is, that is one of our very, very limited supply of short term rental markets. It is such a charm. Little city. Some of our clients have purchased some great short term rental properties there, and are doing very well with them. Now, as I talked about commandment 21 earlier, Adam, and I said thou shalt avoid manias. And I do think the Airbnb trend is a bit of a mania. Okay? So I want you to make sure whenever you look at a short term rental property, you know, people are, are doing really well with those in some areas at the moment. But remember, we are and have been ever since the advent of Airbnb and a booming economy. Okay. The economy’s always been rising since then, it’s always been getting better. And there is a lot of supply entering the market. And there has been enough demand because the economy has been booming. But remember, we are due for recession folks, things will shift and I just want you to make sure that You can make those deals pencil nicely. If you cut a percentage off your occupancy rate, you cut a percentage off your nightly rate. Okay, this is a diversification strategy, I think it’s great. I just want to say, you know, the focus should be on the long term tried and true rentals, you should make sure that there is padding, there is room to breathe in those short term rental investments, because I see a lot of promoters out there selling these, you know, the same way they sell the long term rentals with ridiculous expectations, very low vacancy rates, exaggerated rental rates, etc, etc. So the same rules apply in any investment. What is the margin to make it work if there is a downturn? Yeah, but great properties there. Yeah.
Excellent. I love the voxer thread run where you said you actually saw Gary and Sue’s short term rental before they did.
Jason Hartman 31:57
Yeah, I know. That was funny, huh? They haven’t vent to it yet and, and we went in it yesterday and took pictures and so forth. And and you know, it’s only really one property away from the water, great location. I mean, wow, they’re doing very well with it. So we’ve got some great opportunities in both Jacksonville and in St. Augustine, which is just such a beautiful resort area, I think we really should hold a mastermind retreat in St. Augustine. So that’s coming up. We’ll probably do it next year sometime. And look forward to that because that’s just such a such a charming area. I absolutely love it there. But then we continued our drive yesterday afternoon, and we stopped in Palm Bay along the Space Coast of Florida, the Space Coast of course, where they launch a lot of these rockets that go into space. We looked at some properties there and you know, more coming on that basically one of our very old local market specialist I mean, the guy’s not old. I’m just saying we’ve had a long long relationship This one, he has been building in some different areas around the country. But now he’s got some properties in Palm Bay. So we looked at those and they were great. Really nice smart home features a lot included nice spec level. Just really nice construction. I was very impressed with those. We’re not sure we can make the numbers work yet, because the rent to value ratios, they weren’t great. So we’ve got to do a little negotiating before we announced that is a an opportunity for our investors and see if we can get them to come down on the price a bit to you know, make the rent to value ratios a little better.
Yeah, the Florida market and you get the nice boys that sometimes the numbers not quite perfect.
Jason Hartman 33:43
Florida does not have the kind of rent to value ratios that say Memphis or Indianapolis or those markets have you know, it’s a little bit more of a premium market in most places, but still not bad. I mean, you know that Florida’s got a lot of action. Now. I obviously moved to And I like it. There’s good future for nice warm places that retiring baby boomers want to go to. And I think we’re at about 5 million baby boomers every year retiring and half won’t be long before the Gen Xers are thinking about Retirement Living as well. So good demographics coming at the rental housing market for sure. Absolutely. Well, hey, Adam, we probably should wrap it up here. Tomorrow. We will see you on episode 1200 1200, where we have a 10th episode and we talked about how to communicate like a Buddhist. This was a fascinating interview and I’m really look forward to to hearing that tomorrow. So thanks for joining me and happy investing everybody. Thank you so much for listening. Please be sure to subscribe so that you don’t miss any episodes. Be sure to check out the show’s specific website and our general website Hartman Mediacom for appropriate disclaimers and Terms of Service. Remember that guest opinions are the rain. If you require specific legal or tax advice, or advice and any other specialized area, please consult an appropriate professional. And we also very much appreciate you reviewing the show. Please go to iTunes or Stitcher Radio or whatever platform you’re using and write a review for the show we would very much appreciate that. And be sure to make it official and subscribe so you do not miss any episodes. We look forward to seeing you on the next episode.