December 2021 Monthly Market Update

It’s December, 2021. Welcome everybody. This is the monthly market update. Here we go!

Easter eggs for you guys starting out. If you guys are checking this on the podcasts go on over to simplepassivecashflow .com/ 2022 retreat. The retreat is on, in-person not virtual like we’ve done last year, but in-person in Waikiki. Check us out the full itinerary, January 14th to the 17th. Again, simplepassivecashflow.com/2022 retreat.

 

If you guys are tired of kicking tires of the bunch of broke guys at the local real estate club or the free online forms out there, you got to check out our group. Everyone’s vetted before they come. This is not going to be a bunch of randos meeting up in Hawaii. Only people who are coming are people I know and it’s a good group of folks we have about 75 people signed up nearing the head count, soon. You checking this out on the YouTube channel. We’ve got a lot of different slides and graphics going to be going through a bunch of articles and I’m an engineer so I like charts.

A bit of my background. I’m no longer an engineer, no longer doing the project engineer stuff bought my first rental in 2009 and over 6,000 units now. We just closed the deal on Phoenix yesterday. I think 6 or 7,000 units at this point. If you guys haven’t heard of me before, check out simplepassivecashflow.com, which is my blog and check out the simple passive cashflow podcast on iTunes, Google play.

And if you guys are listening to this live, feel free to drop a comment below or question we’ll try and get to it as we go along. All right so first teaching point here, inflation is upon us if you haven’t noticed. All these things going up beef 24%, gasoline 51% hotels and motels all the stuff for the rich folks, right?

Because if rich folks aren’t really impacted by the old recession call it what you want. To me it’s a little sad. But again, it’s the rich get rich and the poor getting poorer. A lot of these energy commodity is going up for 49%, used cars and trucks going up 26%. I just sold a car. Sold my car a couple of weeks ago, I bought it for 53,000.

I sold it for 60. Used cars going up and it’s hard to get a hold of new cars. Here’s another graphic here showing some of the increases in poultry on the slide is what was up 44% since two years ago, fruits and vegetables up 18%. Inflation is coming to get you. Maybe it’s only going to get your mom and dad who are just sitting on their home equity, paid off houses.

That’s the people that it’s coming after, or the poor people, who don’t buy assets and the reason why you want to buy assets is because it goes up with the pace of inflation. In my opinion, you don’t want to buy gold because it doesn’t really do much does, has no utility and it doesn’t cashflow make income.

It said buy real estate, which is the best of both worlds, goes up with the pace of inflation and it produces cashflow. All right so let’s get into it. Some of the reports here, Blackstone the big company that we’d like to follow because they’re the people who are smart with money they just bought Bloomberg entertainment for about $3 billion.

Now, if you haven’t been noticing, Netflix kind of started with the streaming service, but apple TV, disney plus all these streaming services where you control the channel and you control your audience essentially control your platform, right? Facebook did. Now, Amazon is doing with ads.

If you control where people go, you can somehow monetize it today. Gone are the days of NBC, Fox, CBS, and channels and you want to control the media channel or in terms of streaming services and, Blackstone sees playing that said Moonbug entertainment. This is one of those news where it just like sucks for the small guy, because folks like us, we’re not able to play at these types of institutional assets.

We like to play in apartments, which is somewhat attainable to the average million dollar $5 million Joab. But it’s not like y’all can buy an entertainment company, but just for food for thought here. CVS health plans to close 900 stores and focus more on their digital strategy.

I think we’ve talked about this on earlier investor reports, which you can get all the past investor reports go to simplepassivecashflow.com/investorletter. We’ve been talking about how Amazon was trying to get into the pharmacy business. CVS has a stranglehold on there but as business think of Kodak or MP3s, if you don’t change your business, you’ll get steamrolled.

And CVS is closing brick and mortar stores to focus more on their digital strategy. ULI forecasts the transaction volumes posed to bounce back to pre pandemic levels. US GDP strength 3.4% in 2020 as expected the first economic contraction since 2009. Recovery from the pandemic is expected to occur dramatically faster than what transpired following the great recession of 2008 according to Washington DC group. You guys are probably thinking captain obvious, but they’re expecting a bounce-back and growth of 5.7% expected at 2021 with the continued growth of 4% in 2022.

The outlook is optimistic for most sectors of commercial real estate. The hospitality industry is still showing signs of struggle. Hotel revenue per available room, which we call is RevPAR saw one of the starkest numbers in ULI’s presentation following a 47.4% decline. RE business online reports the American Liberty hospitality opens a 300 room dual branded hotel in Houston.

So the bite we just mentioned with some hospitality, struggling big companies are opening up these hotels 64 Alameda road, that’s supposed to be a combined Hilton garden Inn and a hotel, two suites by Hilton, 300 room.

Now there’s a reliability of small multifamily tenant base fuels recovery from Arbor, which is a big commercial lender so we have a lot of good neutral information. Sometimes you got the news from multifamily housing news, which is more of a pro industry type of news, where the lenders, they show things how it is for the most part.

But they’re showing here how the year-over-year change been leveled off since 2014, which is consistent. However, the origination VAT value, a year of your change has been going up and up steadily. Analysis of work from home trends finds that small multi family properties may be less affected than larger properties because fewer tenants can work remotely.

Smaller multi-family cap rates filled at 5.2% in the third quarter effect the unchanged for the last quarter. Asset prices rose 2.9% from a year earlier at 7.7% over the pre endemic levels. One complaint I hear a lot the cap rates are compressing. Yeah man, that’s been happening since 2008 and it’ll continue to do that.

But the whole point as an investor is you’re doing value add, and you’re making money off of the spread between the cap rates and interest rates and as cap rates go up, so as interest rates go up. Sophisticated investors don’t really care because again, they make money off of the Delta and they value add to transcend what’s happening in the market.

 

Yardi Matrix reports that gateway markets rebound and when we’re talking about gateway markets, we’re talking about those California markets got a beat down at the recession. Demand for rentals of the United States has been extraordinary this year. With over half a million apartments being absorbed, which already topples 2018 single year high of 370,000.

So over a hundred thousand units than the last previous high, which makes sense. 2020 was a year of a lot of traction projects, halted projects that were just completed, might have been paused to lease up and everybody just stayed in place, but now you’re seeing a lot of this train slack come back. Moving on to the more residential side article for Redfin saying home sale prices up 13% from 2020 they’re outlaying 2019, 2020, 2021 on this nice little graph.

It takes up the seasonality of the thing. The thing that you could see, especially at 2021 is after February, March, April, when the vaccine started to roll up, you really started to see that built up demand come through. Median home price increased 13%. Like I said, this is up 30% from the same period in 2019, two years ago, asking prices on newly listed homes are up 11% and on average, 4.9% of homes for each week had a price drop.

Now, this is coming from a real page, going back to the commercial apartments, luxury apartment rents premiums going up once again. So this answers the question what’s better with class A, B or C. If you look at the graph, class C rents have been very slow linear growth or class B and A rents

you’ve seen a nice little tick up the last half of the year. The difference in effective rents between the two products segments went up just over $300 in 2010 to a whopping $500 in 2020. So that gap is growing as it should. It’s you know, this is if you’re always going to have higher rents, classA, B to C that makes sense that gap is going to be growing.

The difference in rent then slipped by just under $400 by the end of 2020, but steady pricing power in the most upscale properties in 2021 as push a difference back to $449. The class C average rent price is 1189 now $358 under the class B. Again, this goes back to the unfortunate reality, which is the class A renters and class A folks are typically peachy in the aftermath of the recession, or it’s a class C people that have the most difficulty paying rents.

I would probably extrapolate at class A people can work from home, class C people are more of the service sector. Maybe they had shut down, some close business sectors.

Rent still rising but growth slowed significantly from apartment lists. The slightly significant slowdown rent growth has continued to exceed its pre pandemic trend. To make more clear. The chart below thoughts are national median rent estimate against a projection of pre pandemic. The national rent rose to 1312 this month, which is $107 greater where we projected it would be if the rent growth over the last year and half had been in line with the growth rates, we saw 2018, 2019.

I think we can safely say that I wouldn’t say it’s slowing down, whereas it’s going backwards. Look at some of these rents going up, I go back a couple slides. The rents are just going up too high for a short period of time. It’s cooling off now a little bit, but it’s definitely not declining.

Here’s a chart of 10 of the top rent growth market. Tampa, Florida, Gilbert, Arizona, Glendale, Arizona, Mesa, Arizona, Chandler, Arizona, and all those four Phoenix right there. Boise, Idaho, Henderson, Nevada, which is Las Vegas, north Las Vegas, Nevada, and St. Petersburg, Florida. All those 10 have gone up 32% to 36% since March of 2020.

Absolutely crazy. Normally, when you’re doing your normal conservative projections, you’re assuming that the rents are going to go up to 4 or 5% at extreme levels in the past since March of 2020 you’re talking 30%. That’s pretty crazy. The markets remain extremely tight.

We’re now seeing the first signals that pressure is beginning to ease.

It’s also important to know that 35 of the nation’s hundred largest cities have seen rents jumps by more than 20% since the start of the pandemic. Even if the rent is finally cooling, this year’s rent boom has already added significant housing affordability for American renters. But hey, they’re just pumping in a whole bunch of fake money in anyway with all these stimulus plans.

What is the buy back America or infrastructure 1, 2, 3, 4, 5? Rent data tech cities are back in the country’s major tech centers. Rents are making up for lost time with record growth. Again, the same thing we talked about, the last one. This is from realtor.com. This one’s looking at more from a national taking into account all markets. They’re putting a retro thing from 11 to 13% year over year.

And what they say is the rise of remote work filled this migration continued declining for rental housing i n urban areas, particularly in heavy tech markets like San Francisco and New York. However, the rising vaccination rates of many major company signaling a returned the office, the demand for urban housing has been recovering quickly in just the past two months.

Rent growth has surge in tech centers around the country. I’ve had a lot of investor calls from you guys lately and one of the sentiments I’ve been hearing is ” dammit, they’re making me come back to work screw that. I quit!” Just kidding, you guys get paid too much because they’re going to just suck it up and it worked for a few more years more, but yeah, it’s tough to take back that freedom when you’ve been given it that long.

Just reading, going down this list. We won’t go down that list, not that important. Inclusion and incentives zone in 6 New England States. We’ve talked about in the past, how you’ve got zoning restriction and tax restrictions in California. You’re starting to see some of this in the new England states where they’re breaking down the not in my backyard type of restrictions, where there’s so much pressure in all these markets for cheaper housing, more affordable housing for regular people, not just rich people.

Where they’re bringing people to live in those types of areas where more the old school mentality, the last 20 or so years, 10 years was they try and segregate people and rich people. Obviously that creates a bunch of projects for the bad areas. Maybe if you’re a rich out there, you probably liked it.

Cause you don’t want poor people nearby. If you’re trying to run a city or a nation in m y opinion it’s not the best thing. You need a little bit of mix. So you don’t have all these Banana Republics and these ghettos all around the place. But whatever, I don’t care. I spend my time not on politics but investments that will make me money and folks like yourselves. But this is just one article showing that how this stuff is popping up so something to be aware of.

Pricewater Cooper. They came up with a report where they mentioned climate change is hitting the property sector where they surveyed a bunch of folks, the top cities: Nashville, Raleigh, Phoenix, Austin, Tampa, Charlotte, Dallas, or Atlanta, Seattle, Boston are kind of places people are moving to they say.

The impact from the pandemic was less than the real estate industry expected at this point last year. Now that the industry should use its good fortune towards both preparations and continued uncertainty and making strides towards ESG improvements.

Yeah. Sometimes you’ve got to scratch your head on that, those high-end accountant’s reports. Especially if you’re investing in workforce housing, you sometimes you got to take that stuff with a grain of salt. That said, here from glowbest.com, why invest in lower middle class housing to hint is that the hedge in case of a recession, but also to capitalize a current momentum. Now, in most recessions everybody’s impacted the rich people are impacted. They lose their jobs. They moved down to the Bs. They move down to Bs and Cs different thing that happened in this pandemic where the A’s are pretty much unimpacted, the Bs and Cs are more impacted. I still believe that in most cases and economic recession, I think it’s prudent to not stay with the luxury type of stuff.

For the majority or your portfolio so they’re saying here, despite the uncertainty within the market class C properties are being taught as the best position property for an economic slowdown by experts in the market during a panel discussion at the national globe street multi-family conference here in Los Angeles. Panels discuss the gap between rent rates for A and class C properties and viewed some of the current trends within class C properties.

ATTOM reports that seller profits increase across US in third quarter as national median home prices reached another record.

Worldpropertyjournal.com reports 30% of us markets to experience double digit rent increases in 2022. Again, a lot of what we said here, just a little bit different graphs. If you guys check this up on YouTube channel. That way, you know I’m not making this stuff up. It’s multiple people saying the same thing.

12 month absorption of apartments. The top are Dallas Fortworth, Houston, New York, Los Angeles, Washington, DC, Atlanta, Chicago, Austin, Seattle, Phoenix.

Dallas business journal reports that rents in Dallas-Fort rocket 15.5% in a year, even with the increases, Dallas is still more affordable than most comparable cities across the country. And like Dallas, many US cities shall start increases. Phoenix was up 27% year over year in September, New York rolls 18.3% and Nashville jumped 17.5%.

And just to speak about a real world example, comparing Phoenix and Dallas. Phoenix, you’re buying maybe class B assets for about 200,000 to mid $250,000 call it that. For the same price, you’re buying more A-class assets in Dallas. Maybe it’s just too many Californians moving to Phoenix.

They needed more to Texas Dallas, but that’s where the pricing is. If you want to buy a class C property in Hawaii, you’ll probably pay 300 to $350,000. And that is Investing 101. Does that make sense for that income stream?

REBUSINESS online reports, demographic economic trends, like they sustain build for rent sectors for growth. A lot of people it’s going to be coming more of our renters nation and it doesn’t make sense to do build for rent. I’m not a huge fan of it. I like more mature neighborhoods. I don’t like all these like new houses all in one area because when a recession comes, that’s the first place where the water retreats from.

I think we saw it a lot in the great recession. If you can remember that old movie, The Big Short, the big tracks of homes in Florida, right? Like the build to rent type of stuff makes sense in theory, just like hotels do. But in recessions, I don’t feel like, I’m not super comfortable doing that type of stuff.

National multifamily housing council reports, how will President Biden build back better framework impact the multifamily industry? They’re saying the plan is to offset by tax increases on corporations, wealthy American. Including changes to like kind exchanges increases the ordinary income taxes at general 20% capital gains tax rate that carry interests for sponsors, 20% pass-through deduction and taxation unrealized capital gains at decks.

A lot of these things didn’t come through permission. They didn’t touch them. Everybody got up in arms about changing the self-directed IRAs but a lot of it didn’t really change. We got to see how it goes through the Senate at this point but maybe it’s on a chopping block later.

At this point in time nothing super huge in my opinion. We keep it simple. You don’t care about stuff. You invest good stuff that cashflows grows your money and gives you like passive activity losses to lower your passive income, that’s what you got to do. That’s the low hanging fruit right there.

And then you don’t have a high income. The only people having high incomes are people still working their active jobs and that’s what you got to try and get away from.

Also expanding on how the $1.2 trillion infrastructure bill impacts multi-family. The infrastructure bill will repair and upgrade the nation’s roads, bridges, mass transit, high speed rail broadband, power grid, water pipes, electrical vehicle charging stations on for critical infrastructure. We have a breakdown on the YouTube channel here of all of this. But to me, it’s just basically a way to just dump a whole bunch of money into the system, paying ourselves basically.

Commercial property executive identifies three trending demands in commercial real estate, which is the evolving hybrid workplace, post pandemic office. We don’t know exactly how that’s going to be, but definitely we’re not going to be going back to the office a hundred percent as Adam and Eve had eaten the apple and have proven that they can eat the apple and work from home, potentially.

I am still a doubter, I think, especially in the coastal areas where you have a lot of tech markets and more independent white collar workers, I definitely do think that they can handle themselves and manage themselves appropriately where your sub hundred pay workers. I still think they got to get to the office and be managed and supervised.

Another trend is supporting employee wellbeing, being thoughtful design real estate can incentivize employees to return to the office. So what you’re seeing the new builds or the office stuff is a bunch of other services that attracts people to them. The incentive to get on the bus, get on the train, get in your car, to come to work for the socialization, other facilities and the demand for warehouse continues to increase.

Commercial real estate applauds $1.5 trillion infrastructure plan. The big thing here is infrastructure and housing are intrinsically linked and this is our president investment in our nation and will help lift communities industries throughout the nations. The president of the NAA and CEO.

Four ways Phoenix benefits from the infrastructure bill, climate protections, the infrastructure investment jobs act will accelerate Phoenix efforts to complete transportation projects along with many of the city infrastructure priorities. These projects will call to create high paying jobs and connect with more families with economic opportunities. Transit south central extension and downtown hub will connect with the current light rail system in downtown Phoenix and operates south. Roads Phoenix adopted the ‘co-payments system which will apply reflective coating to the neighborhood streets, the lower the extreme surface temperatures around the city.

Other initiatives include cool corridors, which is the plant and Jade trees into the neighborhood and along with city streets. And jobs, the nation’s growth is set to increase 0.4% compared to Arizona, which is showcasing it analyzed growth of 1.6%, about three times, at least three times more.

And the other thing I’m personally following, not on this list is a TSMC and Intel building a whole bunch of apps to make all the chips that are in shortage. We don’t want Taiwan to make all the chips because those Chinese guys are always flying airplanes around their space or supposedly near their space. Not violating any international laws of course, I think what 80% or so of all the smart ships, the really good ones, not the dumb ones that go in your kids toys, but the smart ones that go on your iPhone pros are made at Taiwan and the ideas that want to repatronize some of that back to American. Places it’s going is Phoenix.

Inflation’s influence on multi-family home buyers this is from multi-housing news. Higher spending rising energy prices reduced rising housing prices, low inventory across multiple inputs.

Higher wages need to be kept and filling employee shortage, shipping delays, and other factors are issues we face today. Despite all that effective breath growth growing 11.2% nationally in 2021 quarter 3 so cheers to all the landlords. Boo, to all the tenants up there, they don’t like that. You don’t want to pay more rent, they want it for free.

ATTOM they report the U S foreclosure activity continues to increase nationwide. Now this kind of makes sense. After all of the rent moratoriums going away or the foreclosure moratoriums going away nationwide one in every 6,600 units. States with the highest foreclosure rates are Illinois, then Florida, New Jersey, Nevada and Ohio among the 220 MSA out there.

Those with the highest foreclosure rates in October, 2021 were St. Louis, Missouri, Trenton, New Jersey, Miami, Florida, Chicago, Illinois, and Cleveland Ohio.

How the pandemic has impacted the movie theater property values. The cinemas emerge far behind the pack of other businesses in a race to resume normal operations. Cinemas were already difficult to value because they’re unique. A uni Tasker, right? This big building, the only people who want to buy that building was Toys R Us and they went out of business. Just joking there, but it might be true.

And the lack of comparable transaction data across the country makes it hard so the ticket sales give appraisers and taxes are the big hurdle in valuing these movie theaters. So if you guys think of a good idea, what to do with these big movie theaters, other than that Toys R Us, let us know.

Join the Facebook group, join the community, create a discussion, or just buy rental properties and afar the other day. Because a lot of these other ideas that I bring up like industrial storage, buying movie theaters what’s the other one big office complex it’s out of the reach of the average Joe under $5 million. A lot of this is institutional type of money that has access to it.

Dallas business journal reports at San Francisco and Los Angeles among regions, losing workers to Dallas-Fort Worth. San Francisco bay area took the number four spot last week. Last month, the region wasn’t even in a top 10 prior to the pandemic.

The numbers were another sign of a growing number of companies and workers moving their home bases from places such as California and New York, to Texas. Lower costs and taxes for businesses, as well as those that employ are driving the shifts. One thing I would mention, like the people will talk about like taxes.

Just because a state has no income tax , like Texas doesn’t mean that’s a good place to invest guys. Like that’s say I don’t know. That’s just not a good way to invest because yeah, sure. That’s one of the many factors of picking a good market to invest in, but really what you should be looking at the property to look at these one-off types of things that may choose to investor from time.

ALN apartment data construction times have continued to climb, but for the first time in more than five years, average lease up duration has decrease. So what that means is that the average time that it takes to lease up one of these things is deficient because more demand for apartments for renters.

Rent cafe says that millennial home buyers feel the rise of lifestyle renting in 2021. Yeah. sucks to be a millenial. Sucks to always be the new guy, right? The top 10 largest city for millennials over $50,000 versus Indianapolis, Las Vegas, Phoenix, Oklahoma city, Memphis Nashville, Charlotte Columbus, San Antonio, Texas,

Louisiana, Kentucky doesn’t necessarily mean that they’re good investment areas just saying that these are where the percent change in applicants among millennials making a 50 grand. That brings us to the Easter egg, which is if you guys want to get access to my free book r eleasing this month, we had to delay it a month.

We got busy because we press go on the retreat and I got busy with that so we delayed it a month, but go to simplepassivecashflow.com/book. The free audio book is on there folks and if you guys like it, you guys like the book, please shoot me an email and I’m looking for people to help me out and write some reviews for me so that we can get some more eyes, ears on the good work of simple passive cashflow the journey to that on Amazon when it finally releases.

Shoot me an email at Lane@simplepassivecashflow.com if you’d like to help out. If you guys are tired of hanging out with a bunch of broke guys and you guys want to talk to other pure passive accredited investors, go to simplepassivecashflow.com/journey.

Check out the family office Ohana mastermind, really no other group out there like it. We gotta change it, there’s about 80 members in here now and then every year the price goes up.

 

Now I’m going to be going into some of my personal stuff. Again, if you guys have any questions, type it into the chat, but I was defined six ways to for my own personal development.

So in terms of growth, we hired the chief operating officer. He starts today is December 1st and more staff is being hired in the coming months. Some of you guys have applied some of y’all, I know you just don’t like your jobs, but we got you on the list. Should an opening come up and this is going to help, allow me to travel and join other groups, get around other circles and find and source the best practices, how do you build wealth pass the five, $10 million stage.

As far as contribution back to the world, that’s what simple passive cashflow is for me, right? If you guys haven’t seen the mision, check it out. It’s simplepassivecashflow.com/mission, but it’s all about bringing like-minded people together. The first conference I went to was way back when in 2016, And I was like, whoa, this is crazy. People are buying.

At the time I was buying little rental properties, turnkeys. I was like, wow people buying properties, site unseen for cashflow 2000 miles away like me, this is crazy. Then I realized there’s a lot of other people doing this. There are a lot of people like yourselves out there, especially accredited investors during this buying, going into syndications with a bunch of seemingly random strangers.

But if you want to make the world a little bit smaller, associate the names of face, get to know me a little bit more on a personal level, and more importantly, you meet other passive accredited investors. Come on to retreats or simplepassivecashflow.com/2022retreat . We’ve got about 75 people signed up at this point. We do have a strict cap due to strict COVID measures here on the islands.

As far as significance, keep closing more deals , more value add stabilize apartments. I haven’t updated this matrix that I did for myself. There’s gotta be three or four slots missing here, but this is how I visualize my investing.

I try and scatter it from class A to class C buildings, maybe a little bit less class C these days. And that’s a lot of this cluster here is how a lot of the first deals where we start. But you also spread it around from the yield place to heavier repositions at develop. And some of you guys, I don’t want to put the cat’s out of the bag, but we’ve got a lot of sales coming in early quarter 1 2022. Time to cash that money.

As far as uncertainty though, h ow do I counteract that? I’m doing a second infinite banking policy and I’m wondering where do I put my money when I’ve maxed up my infinite banking policy? I get a lot of liquidity anxiety when I money’s sitting around, especially large sums of money sitting around not doing anything.

So I’m pondering doing some crypto staking, maybe a hundred, $200,000 to start. But this is where I rely on my family office Ohana mastermind. Some of you guys will email me asking what I’m doing. You guys got to join the family office group. That’s where you’re going to find the good stuff. If you got a hundred thousand dollars and instead of making 0%, you make 10%.

You do the math, that’s a thousand bucks right there that you missed out almost every month, times 12 that’s 12 grand, maybe 15 grand, just only on a hundred thousand dollars. It is silly to just do it on your own and how do I get some certainty? Close a deal recently, and we are looking to sell 3 Texas apartments and another development for more than preforma so that’s cool.

And love and connection, I’m super excited. Super, super excited that y’all are coming to Hawaii, January 14th until 17. Cause it’s not free check it out at simplepassivecashflow.com/2022retreat. But if it was free, you probably wouldn’t want to go in any way because it probably be just another bro fest at the local Reia with a bunch of people who think real estate is the way to get rich.

Just for fun some doodads that I’ve been buying. I’ve been using this whole foods a lot to not waste my time grocery shopping. It also helps me control my spending, buying things I shouldn’t be buying. You guys have seen these bone conductivity headsets. It allows you to hear what’s going on around you so you don’t get hit by the proverbial bus.

As we all joke about a lot and then you get paid out through your infinite banking policy hopefully if you have that all set up. If you don’t know what we’re talking about, check out the infinite banking e-course simplepassivecashflow.com/banking.

You gotta put in your email to sign up for that free course. Of course, I have to have my mic because I’m on the phone all the time. Hopefully, this will prevent me from getting hit by the bus when I do not go golf shoe shopping or outside of the house, I’m a little worried that my wife will now know that she has access to me at all times, even when I’m on the phone.

And I cannot use the fact that I have my apple AirPods pros in my ear, filtering out outside noise. For you golfers out there. I’m not a big golfer, it’s a waste of time. But when I do, I hit Titleist Pro V1 the best ball that you can get your money on, get your hands on. I feel like $4.50 cents per ball’s a little expensive

so my little hack here is I go on Amazon. I used to do this on eBay, but E-bay is a little strange these days. I like Amazon better so I can buy used golf balls but there’s a grading system, I guess there’s single A, AA, AAA, all the five A. Go look it up guys every golf ball provider of these used balls has a different grading system, but you can pick up these semi nicked up balls for about half the price of it.

And when you’re like myself and you just lose them half the time, it takes a little sting out of the whole thing. But when you hit a good one, there’s nothing more pure than hitting a Titleist Pro V1 and getting those extra 20 yards bonus roll off the thing.

That’s it. Thanks for listening folks and we will see you on the next report.