Del Walmsley Show, 8/13

Del Walmsley
Monday, August 13th
The Del Walmsley Show for August 13, 2018.

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

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 below also talk about how great it is to live in Texas weekdays five to seven on talk thirteen seven Michael Berisha. The information and opinions you hear on the Dell wants it radio show or those of the host don't want sleep is gas and his callers and do not necessarily reflect the opinions of this station its affiliates its management or advertisers that don't want to show was for entertainment purposes only please consult a professional regarding your personal investment needs nothing presented on the don't want the show constitutes and endorsement recommendation offer solicitation to buy or sell any product or security. OK until the until one sleep radio show don't. Tell challenges the status quo. Questions everything and it empowers you to return to your core. Don't radio show where the high fence and help begin to impose don't want to leave is always working in your financial freedom to name my friends. I want to sell you one constant. With so you on the concept that the market is not over sold. Interest in concert you know because in markets they're cycles. And we tracked cycles. And we have different explanations for different segments of the cycle. It's all very. Logical. Mathematical. Cyclical. I mean everything in your body. Once the cycle to a career. Because you've been trained to believe in cycles you been trained to believe in highs and lows and reciprocate should. Pullbacks. The verb he's been talking your entire life. Corrections. You've heard all these words over and over and over in her people talk about all the stuff. And then winning it doesn't happen. You start to wonder. Now in the last couple of weeks. I'll take it upon myself because they have come out. To look at and read. The reports of many different economists. Some of them directly related the apartment industry which might be you know a little bit skewed others are not related to apartment industry. And its interest in. Good data that they've percent. Is pretty much the same. Solar pooling their data from national database. Facts. Figures. In the have to make interpretations of what happened. The challenges. Is it the interpretation to very difficult come up with. So. You ask yourself. What if they get it wrong. What if there interpretations are incorrect. Does that mean disaster to use an investor. And surprisingly I would reputed unit it has done in the past. It has to certain sectors. People that are speculators. Speculate on the value of real state just like people speculate on the value of gold and speculated the valuable and they buy. With the intention to sell. Get caught in the market that doesn't work to Dubai for the so purple in the market to impose against them and creates a situation where. They lose their job and can't pay their mortgage payment anymore and also little value so they can't sell them to have nothing unum couldn't butters or refine its mortgage almost no equity. So when the equity turned negative it's negative. But it would have bought that property would point 5% equity unit dropped 20%. You can still get out of that house. Even you would wash your equity and we all would cry about losing equity but the problem was really not losing your equity the real problem if you lost your job. If you had lost your job. That you would have a problem losing your equity. Interest and how we see that so. Wrong. How we eat in dent in our minds and our mistakes. By feeling totally. Satisfied that the economy's booming that are Pamela can now afford to make a big purchase into a house really can't even afford owned. How we believe that on the economy. It's not real state to do that to. I was in real estate during those perceptions 2002. 2008. I made money during your during the recession I mean when I never laws and rules state. But I wasn't in the position that these people in which was conflicting Avery and yet they also lost money in real statement to point. Is that they had the wrong set up. They had the wrong system the wrong financing system the wrong income based system. Back in the eighties. People bought real stayed on purpose to lose money. You can drive right up. That Olson and 8687 they took the ride of wave Reagan took built right up to weigh in get what. Boom there was no original paper real data anymore and rules to crash. Same thing happened 2008. All of sudden people to inspect your real stay forever. The economy gets off people loss of jobs. And the Bloomberg urged. The top end of a typical inversion. When the interest rates. Become higher than the rate of return on investment. We need these returns. Become inverted when long term interest rates. Right are lower than short term interest rates. You have a problem the economy. Long term interest rates should be higher. There should be a cost of taking money law. In short term interest rates should be used to figure out who they shouldn't cost too much you know we get my money back within a year that doesn't demand the same risk. And so now the big thing if you want to talk about this inverted rate curve. If the rate current converts like he did in 2008 everything blows up it's. But yet. When you read all the rest of the report. If the Fed doesn't do it if the Fed doesn't mess it up. And everything else looks rosy as can be. No today if you can hang with me through the show. I'm and get to a point where explained you historically. Why I believe this market is not overbuilt or oversold. That historically. Were actually in a better position right now to buy apartment complexes. Do we have a war or even rent house. Is just an incredible thing to see what's available there. So when I go through this with you hope you can follow through this whole show because this is going to be. In gigantic sales pitch to. Not because I'm absolutely I need so you can patent product too so. I have. The concept is so you that if you're sitting on the sidelines. And not building well. You have no assets. That you minutes ago. That you are missing. Out. Christening caught him yesterday twenties have an apartment complexes bought as many as 34. Got. Thousands and thousands and tens of thousand units. And interestingly enough. He Sergio don't have been buying for the last four years and people would sit in silence to beef up the cycle that ended. And our own way better off because of and yet up to all my friends and fellow investors pulling back. But I didn't. And so now he's. It's hindsight 20/20 certain. Maybe it's up and down fluctuation markets is not that important. May be what's important is keeping your money invest in something that's earning money. And his cash flow from all these investments is phenomenal. House of a better in some words some great. Some have capital gains so you have large cap sort of Nokia. But in hole is portfolio. Is truly invested. The early in that that what he looks. At his job as in life is to keep the family business invested so it's making money and what good money Singapore went in the urgent thing. What Guzman sitting in diary that are conducting would lose money sitting your painful home which earned him but how would that benefiting your fame. As opposed to have needed businesses that are money now you can edit and savings. In most teams count to bring about half a percent all the online savings accounts and or up to one and a half percent. I just transferred onto my quantum receives accounts into these online two details. To get that extra 1% interest. But theoretically that's. Ridiculous compared to owning a piece rules to which children 678 and 1215%. Depending on the deal. Today I gotta make this point you. It quotes you. That you need to be invested in the market. And wire 2018. Is going to be better of the 2070. And every economist every one bar no but I read. Signature thing. 2018 gonna be better to 2017. And you better get best. While. We're at the cycle go. Well that's when you discuss. Because I have a theory about cycle expansion. That might make sense to open. What if we change seen tiger shape of recorder. Is still occur. But it changed. We'll discuss that more when we come back to the DoubleTree. And. The. You. There. It. You're listening to the Joseph wants the radio show to help will be right back with more life changing principles in just a few minutes. Lifestyles and limited is the real estate investor education and mentoring group that has been taking people by the hand teaching them how to investing realistic improvement. Twenty years our students have been so successful it pretty well and has been company of one of local state and national investor the year awards. Twelve of the last twelve years it's easy to see why the real team magazine named us the best in the US if you're ready to amnesty to portfolio due to lifestyles of limited Texas. You know I slam events schedule. Donald says the things you just can't say to your friends Abbas kids' financial planner spouse even the cat medium to deliver the message for you. Don't worry Dell's past show archives are just a mouse click away. So go to Dell on the radio dot com and turn your speakers up for everyone to hear. Dell delivers his daily zealous sons and liberating unconventional wisdom 24 hours a day. At Dell on the radio dot com. Did you know that every dollar you invest in real estate makes you won five ways cash flow of money in your pocket each month. Equity capture the thousands of dollars you create when you have a great team and by the white property using the right map. Appreciation realistically increase in value over time. Equity built renters pay down your mortgage each month and finally the tax advantage when done correctly real estate investors pay no taxes on our cash flow and capital gains at lake styles unlimited these are the five ways we'd make money in real estate which is why real estate accounts for more millionaires in the world today that any other investment vehicle you should have some realistic in your portfolio. To learn how to attend the lifestyles unlimited free workshop call 8669718970. Or go through what styles unlimited Austin dot com and register for the next available workshop. That's 8669718970. Or go to what styles unlimited Austin dot com. And breaking news exclusive contests and more delivered right here rim not I like doing things doing the right choice club that talk thirteen seventy dot com and you'll be in the just go to talk thirteen seventy dot com and click on the right choice club from top thirteen seventy the right choice. On thirteen seventy. Welcome back now here's some more unconventional wisdom to set you free. The man on a mission to retire road America one person at a time. So once. Who. Look back you don't want to redemption today I'm trying to make the point. For the fact that markets although they can be cyclical. We believe that to be cyclical. I believe cycles can expand. Now what do I mean by. What I mean news is that. If you have one dollar it only takes one dollar to be 100% return on a percent return on one dollar to dollar. So the cycle can ogle from earn you a 10% return which is ten cents. To a 20% return which is twenty cents down two week. Nothing return very easily. But what if you're earning not a dollar which earning 200000. You would think. That it would make sense is sick leave would be just as easy Eagle Forum. You know 10% return which would be 101000 dollars and 20% return which is 20000 you would think the numbers all lie. But I'm suggesting you those numbers do not a war. The the larger the number news the harder it is to give it to mu. That's a strange concept. But I believe this my whole life. I've noticed that without buying rules state. When it first started buying very very expensive stuff she style old style worn out stuff and I could earn 2030% return on cash flow from day one. But only paying 101000 dollars a unit for that stuff. But we knew got up to where your pain. 20000 it was twice as hard to get the income to go up. By the same percentage. When you can 830 was three times as hard and now we were looking stopped anywhere from eighty and I've actually looked to stop myself now. In the last two years from 120. Last week a looked at what 200000 Altidore. That you can think about that. How do you make that kind of percentage change. When Celtics 200000 Altidore. With some of paying 3504000. Altamont rent. How do you raise a revolutionaries and a hundred bucks that's nothing. Percentage wise where would people were paying for her ultimate threat that raise it to 500 that was a 25% rate increase. But a hundred on 3500 is nothing. So what I'm suggesting you is that cycle. Has scaled to the point. Where the returns have got to go down because the cost of getting in the business so art. Yet. At the same token. The cycle has expanded. So where it would take you X number of days to get from point a to point B and then deport seat and then to point B and then to hit the end the cycle come back to point again. The that period of time has to change. It has to change. Almost. Directly with the size of the change could it takes longer to make those larger changes large you know. Descend the cycle. Fruit loops. Now that's just projection. This is my theory. No congress out there or spouse in this. I was bouncing it provides step back now purported seven years and had to watch every single yours my members of the best. And by rules to your record year for your and every Watson what every. Like four years ago I should that we are peaking in this market is probably going to be over by next year. And the next you have regular you know what I think we are peaking. Last year. I decided to summer rules to properties that I thought we had gone past the peak and we were on the edge of a ball. While I was selling chorus line. We discussed or don't we shared notes. And although I got out of historic ties. Do to get back in a minute to get back it is sort. So. Let's take a look at some of the numbers start was single family you know work this wholesome environment to some of mutual. We'll work this through two departments will start a single program. Right now first time homebuyers with 32% of all the buyers. Here's the problem with bad news. Is that they don't build small houses anymore and giving him the median home right now it's 248000. Dollars. The average home is 331000. Now let's go back to what I bought my first hole. I purchased my first rental property and 25000 dollars. At the time the median. Was fifty. All right so let's think about that is are barred at fifty cents on the media. All the mediums 240. That means we can buy houses that 120. And still be buying the steam. This scene discount I was buying that. At the bottom of a recession or lose we lose that absolute best time to buy with a wall had exploded and things were going for fifty cents on the dollar. I was buying a fifty cent of the median price. Well guess what folks. Were still buying houses 8900000. Dollars 110120. All day law. Which is below 50% of the median price. We are killer and it. And not realizing it because those prices. Are higher than we've ever been willing to pay in the investment world. But not understanding that. The stock is being built is higher than it's ever cost in the history and that people coming out to buy their home to Albert. First time home looking at prices 240000. And so who are these first time homebuyers. The reasonable needles. 25. To 3035 years of age got the first big pay and job maybe just got married or have a your relationship. Maybe the other first baby and a little wood mom and dad. They got to get out. But to get out the got to come up with the price. Of the 250000. Dollar home. That's a big chunk of pay for it releases. I remember when I got out our first home run ball was a Condo for 40000 bucks. And I mean 40000 Purdue 240 dollar and woods thirty years later forty years later whatever it is but it's steel. Massively different. So. How does that hook up with the apartment is. Back whenever got a new part of the business of buying apartments that old. Worn out tired. Lowering stop for 101000 altered or. The high end stuff the stuff I really wanna go but I could deport was like 40050000. And the median home prices back then. Were like a 100000 dollars. So could I remember I got out of single film out of because single open house the media what to 75076. Thousands of what a tremendous housing business institute that's. You get a buyout for some 6000 ultimately when he went. So are we to apartments where two bodies albeit apartments for cheap and picked him up and make some money with. But if you look at and say okay. Back then we were buying apartments anywhere from four. Bottom feeding stop like out buying a 101000 or two really nice cutting edged up for 4050000 door. There houses were we sold for 76000. Door. We were paying percentage wise the value of a new home. Very Rickles. Now days. It's not so we. We're not even that close we're not even close calls. What were paying for apartment doors compared to practice. Will blow your mind. And on and come back after the break into into insure you hope for all we are how much lower were buying apartments for. What's ago it was. People got to live somewhere. It was an. 87771150. To a level we right back with you don't want to review. It. Yeah. Get total freedom in your life safely and quickly. Build wealth and passive income should never worry about working until you drop losing your job or retirees improper. Over 48 years ago don't it won't sleep founded lifestyles on the Dell has taught over a 100000 people just like you the principles of financial freedom lives national radio shows and personal one on one match point at lifestyles on women. I'm excited to tell you about the real state workshop that has changed so many lives. This workshop takes you inside what we do and what we believe we'll share review the five ways to make money in real estate and what's more. Just like your personal trainer but lifestyles are limited to motivate encourage me. So you can get in the best financial shape or call 8669718974. Total lifestyles on the that it Austin dot com. That's lifestyles a limited Austin up. To register for the workshop that teams we'll play that's lifestyles on limited Austin dot com. You have to decide I want you couldn't write it. The wool over the simple goal is to go to where I missed your chance to ask delicate question during the show you can connect Adele off here. Now on the radio dot com click on Twitter. Ask your question. Passed passed passed down our belief that good future ahead of the skill set and we will bring people. Through multiple levels of words that are completely different. One how to comment I don't. We know you're out there. Hiding in plain sight within the life of quiet desperation wondering if you're going to keep your money to degrees there's a better way of federal life at lifestyles unlimited. It's time to live the life you deserve you can only do that by creating passive income. Let us show you out it's just two hours. It can't be worse than another meeting about meetings or none of mine was my front of the TV go to. To lifestyles on limited Austin dot com that's lifestyles unlimited Austin dot. Texas weather can change on a dime. I wanted to get your brain. 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. Welcome back now here's some more unconventional wisdom to set you free. But the man on a mission to retire or America one person at a time. No one's going. What about the don't want to rated should today I'm making the point that. The cycle. That we are living within within the rules investing world. Has expanded. To the point where. The corpse. The link in the distance between the crude from ups and downs. Is getting larger and longer and longer. It's a document in the day from one of the economists. These dots or. Where he pointed out the largest expansion. In the country. Was. It was a 120 months. Of expansion. And we're currently at like 104 months of expansions would the second largest. Expansion period in the history of the country. And deport their bacon as I mean how much further can it go for almost two largest expansion ever. And my theory is that. If there were fifty and sixty in seven month expansions and somebody had a 120. Isn't there that opportunity for everything to a light itself. Where there could be 13240. Months of expect somebody had hip 120. Were a 104. That's a long ways away but somebody had to set that record and some set of circumstances and had to set that record. So is take a look at our circumstances right now that play into me believing that the cycle has been scratched. In fact completely. In erupted in some cases. But maybe that's an overstatement which just six stretched out. To where things don't work at the speed that we believe they would work. So with target number one. I believe that the the value of real state. It's controlled by supply and demand in buying power. So what do we mean by that. Well we bring tons and tons and tons units on line. And also and we're over supplied. Rates have to go down occupants you have to go down. And real estate values start to what people can't operative believed to profit. And so that the cell they have to sell lower price because they got no financials to sell to. It's Cedric Cedric Cedric. All right so Tom but the minute. And demand is how many people there are two. Read those units so we got a large supply rituals and a very large demand they can neutralize each other and the properties is profitable they work. If you had a higher demand and supply. Then you're going to have an increase in profit. In an increase in value. Kerry. And did you have buying power. How easy is it for you to bar the realistic. I'll throw in the marketplace. Well let's look at single family homes. The buying power is going down. Why is debunked or going down because the prices are getting very. And interest rates are starting to rise. So the buying power is going away. But what's happening commercial real state is that there's more and more and more money to throw it real straight to buying power is unbelievable. And interest rates are staying relatively fixed. I mean I'm looking in interest rates right now like negated your power to go in the neutral rating point 3.2 seven. To get it fixed rate of four point five. That's phenomenal. Thirty years. With a ten year balloon four point five. Interest only which really means you can view it's like you're paying 3%. It's just unbelievable position no. You know paint on the principle. So the pain too personal. This gives you a tremendous amount and and the fact that there's tons of cash and well we indicated these deals usually even more buying. So as the mullah deals come out in the world changes from. You know I told folks right. To the millennial. They now have the belief that they don't necessarily won all the home. They don't like upkeep. They do little with their parents have been tenets for the first thirty years of their life now to be tenets with freedom of not living in mom and dad tells us like total freedom. There's four gold and they want nice amenity so that can't afford to buy a little crappy home and a crappy neighborhood they're not gonna do that. This all leads them to demand. As more more more deals are wanting to move in. To the household. Will move or old girl counseled by themselves. There's more more demand for apartments. And not as much demand for houses because we can't afford to Bible tells us. They don't have the buying power to by the treatment of Apple's 25%. Down I don't know I think you bio rock between 5%. But you have to build a scan for the mortgage payments. You have to pay for all the maintenance repair mourn the ROU two Mosul pulled it. So it is sending demand over to the apartment industry so there's more demand for the apartment industry. And the apartment industry is putting up more supply so what happened in 2008. When the recession. They stop building. So to nine to ten to eleven. Until about 212 did you start seeing apartment come back on and when they did there was a shortage of apartment. There was a shortage of housing. For many years so what happens boom big giants when in the pedal and everybody goes to start the old. But they're building classic race. There's no more class B and class sees. They stopped even naming anything class. Even if it's a piece of garbage and bad part on the call a classic they've eliminated the designation. Because everything. That you could put a human being here and is rentable misstating. That's a market ship folks. I mean when I got the business or we're d.s there was doubt that people shouldn't live in. And they're not even condemning the going rate in meeting put a body in nowadays is a see that blue collar living. Now. Tell me this market hasn't changed. Tone with the current hasn't changed its cycle hasn't changed. It's unbelievable. What else controls supply and demand. About jobs. Stalled what jobs. We are right now at the lowest unemployment. Level. Since. 203040 confused I don't know what most but it's been a long time. Less than 4% you're known as situation we were when I was growing up where it was called. Underemployment. In other words there's. It over and over appointment there's so many people have jobs and so many jobs are one people. That it's a wonder we don't have inflation. Whatever they're doing the Fed is doing something it's holding down inflation. Fairly well. Because now it's going to be driven by the fact people circuit and higher wages. Now Mary that with what doubtful pitched it. This new tax law is going to change things dramatically. Companies are going to make. 25%. Woman that you're paying 42%. Taxed. At corporate level. The other paying 25. And it's a 50% cut taxes. These companies can be gushing with cash. So. Win there's a lack of people who work for them when they're trying to expand these wonderfully profitable businesses. They're gonna have to offer higher wages. I had my step can be already its you know dog it would apply or opera opera are we just people even like our entry level people you know. A receptions scope what more money now because you can bloodstream. While it's happening. So people are gonna have warm. Right so there's gonna be more money to ball and we. Buying into actions are wrong law. Consumer. Index is it that study how people feel about the future there all up. Everybody except the Talking Heads on TV Democrats bleed patrol is going to blow this thing before it can become incredibly positive. Forever. Because you don't believe in trickle down economics that's fine and acute. But the bottom line is. When there's more money out there and there's less job orders more jobs than there are people. We just have to go. And then go for everybody doesn't matter what you're white black Hispanic Chinese Indian. Weeks ago. And so you've got this perfect storm. With the economy is booming. Where we're at the point dislike when you'd say the cycle should be shutting down there. He should be over. Oh it's the beginning of a new peak. Because revenue trumpet. Think of now one more thing. They've slowed down the amount of new apartment conflict is coming on line. 2018. Will bring less product line the 2017 did yet 2018 we'll have more demand. Mortar men left supply. Higher rents higher occupancies. Its comic books. It's all happening right before it economists are saying it. And they're booted Lee holding their breath cool and I can't predict what this is going to do because it doesn't make sense. I don't wanna be wrong I've seen your right now saying I'm willing to be long it's happened. A short break back or. You're listening to their Joseph wants radio show. Dell we'll be right back with more life changing principles and just a few minutes. Did you know that every dollar invested realistic makes you won five ways cash flow money in your pocket each month. Equity capture the thousands of dollars and create when you have the right seat and by the white property using the right map appreciation realists they can increase in value over time. Equity built renters pay down your mortgage each month and finally the tax advantage when done correctly real estate investors pay no taxes on our cash flow and capital gains at lake styles unlimited these are the five ways we'd make money in real estate which is why real estate accounts for more millionaires in the world today that any other investment vehicle you should have some realistic in your portfolio. To learn how to attend the lifestyles unlimited free workshop call 8669718970. Or go to what style unlimited Austin dot com and register for the next available workshop. That's 8669718970. Or go to what styles on limited Austin dot com. And lifestyles are limited we don't just teach our members how to retire in five years or less by investing in real estate. We provide access to good tools they need to make it happen though you can use them to attend the free online class how to get the best investment property. To learn the property valuation techniques and tools. Need to identify their very best deals. Go to getting the best deals dot com to sign up today that's getting the best deals dot com. What would happen if you didn't show up for work tomorrow. For the next couple of days for week a couple of months a year how long until you lose everything you or forcing a fraction of the time the current. This fear keeps you up that night it's time to learn the strategies and teach at lifestyles unlimited start with a free workshop go to lifestyles on limited Austin dot com and find you true financial. It's like so many of our members already. That's lifestyles on limited Austin dot com. Take a talk with you anywhere we'd be on the news talk thirteen seventy app lets you. Keep up with the latest breaking news and our search for top thirteen seventy in the App Store or find the links at top thirteen seven. Thirteen seventy. Now here's a more unconventional wisdom to set you free. The man on a mission to retire or America one person at a time. No one's going. We'll go back to don't want to radio show today have been making the point that I believe that the sides. Of Kaka the current economic sides of the scorer. Changes the wing of the cycles. And it's just natural. That adds the trip the size of the number it's larger larger larger that the cycle. Become longer and longer so that paid the one time the best the longest. Economic expansion was hit years' war or fifteen months. Somebody got seven months somebody got a 120 broke to reckon we're down 100 or we having reached the 120 yet. And why couldn't we be 13240. Because now we're moving numbers that are sold large. The next what do wanted to make laws. Single film housing so expensive. That is driving the millennial multifamily housing. More demand. Next what I wanna make. Is that the binding to build believable but Billy is over the top. Cheap money tons of intelligent investors to invest for capital part of the deal so there's tons of availability. For buyers to get out there being rules investment deals next point is supply apartment complex who went from. 384000. Units last year being brought aligned with 335000. Units being brought on this one this year so there is less units being built. Now they're putting in Newport which I haven't made it that is they're not building classy and be apartments anymore. There's none of them out there they're starting to disappear or at least the percentage of units on the market. That our class C and B are dropping think about it all legal complexities. Eventually the percentage has to change now the theory would be. That won't upon a time that classy it would just be eventually turn into class beast. But that's not happen the way classy were built since 1990. In 1990. They stop building a box apartment complex and started building the stop with the beautiful. Amenities. Buick Open area offices just. Workout rooms incredible swimming areas dog walks and so they've improved those amenities since 1992 now. And every year of the amenities get a little bit nicer but it just a little more expensive. But the the same amenities they have not come up with any new secrets the open air refuel a classy apartment. It's still right. So it's not like before the seventy destruct construction became worthless because of the aluminum wiring in the flat roast in the man's arts. You know the seventies construe or eighties construction which I bought a ton of couple years ago the eighties construction finally had pitched rose for the first time. But they got a load in your neighborhood that eventually turned. A downward. The classic case. Even in those downward neighborhoods are staying classy it's winners thing now the other day course to we bought classic for 120000. Or more let's think about the if you could eliminate classy apartment complex in a good part of town this was that a good part of town. West trees. And that's a really good part on a limited immunity. Economic stronghold. 420000 door with a median home price in that series 240. Thousand or better adore average price 300000. Adore. He's buying that for less than half of the median price. A hole. So he can offer that unit. Up for rent. At the same thing health costs and making giant prop. That's what's happened books. The apartment industry. Is falling behind. The cost of new construction. And the cost of new construction. Believe it or not is getting so high it's squeezing out its customers. So if that happens. Not only do you have the fact that the curb its flattening out because how long it is. It helped you just think about a gigantic circles if a circle was large enough. A curve is large enough it looks flat all of the developing under you're standing here on earth you're looking out and you're thinking what it looks flat. Landed not flat earth is round one we think it's flat because the curb its slow march the slot the circle of sole large. That the curve looks flat I'm suggesting you now. That the prices of this rules date compared to the prices in the past is so large. The crude is still there are guys. But it looks flat on the service. Fish is not gonna get their very quickly. And by the way we don't all lawful or even though it's round. And I don't think you're gonna fall off of your rules to invest. Even though you're sitting on curve. This is an opportunity. Right now. To really kill. I hope you'll see that hope has been beneficial to helping you see that. Now before we gorge will remind you. That I will be on location this year all over the country. I want to go to this website meet Dell dot com meet Dell dot com. You go there you'll see all the locations on the B yet the dates and to be there and I'm going to be in your area sometime this year we're going all over the country. Portugal that website. Pick out the meaning what you wanna go to and register yourself to come see you beat me personally. I always do. Now we will presentation but open. Conversation ass Dell presentation where you sit and talk to me personally. And asked me in question to ask me you're not gonna wanna business. These this opportunity. He's Oregon occur in your city once each year because I will be going all over the country. But these are little small intimate things that you can get involved in. And your docket when a missile to go to meet Dell dot com and EET. The L dot com Nextel with one L meet Dell dot com I'll look forward to meeting you personally. As we go through the salt. And I try to help you plan your future investments which remember this. We're not doing this just to make you more about what I do is make a little warmer. We're doing this to complete. Change our lives. Have a wonderful day. Remember not them it's much. The radio show. Can obtain the rose. Join us seventy. Can't get enough. Access pass my. Best enjoy the. And okay. Yeah. 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