#222 Mail-Right Show With Special Guest Kaylee McMahon
A Top Former Dallas Real Estate Agent Producer & Investor Give Her Personal insights!
With her trademark Hair, rapidly growing sales, and outfits as classy as her personality, Kaylee McMahon is quickly becoming a staple of the Dallas real estate scene. As a top producer at Lux Locators and Founder of Tahoewego LLC, Kaylee has secured over 2 million dollars in real estate in her first 2 months moving into residential home sales.
Kaylee has emerged as one of Dallas’ top Apartment locators having placed clients in luxury apartments, high rises, and condos. She Wanted more in the luxury Real estate world. So she began education to be well-versed in residential home sales.
Originally from Portland Oregon, Kaylee is a speaker on Propelio TV, an investor funded Free information Network. It is for those who want to get started in creating financial freedom.
Kaylee is currently flipping a home in Denison Texas because she feels that to be truly confident in giving advice to clients about buying/selling/flipping/investing in Real Estate one should NEVER take advice from someone who has never gone through these things themselves.
Kaylee has completed continuing education this year in-home comparable, appraisals, real estate investor representation, investment and wealth creation, and GRI Marketing for sellers. GRI is the graduate institute for realtors and is a distinction that shows Kaylee is committed to the success of selling your home and getting you top dollar on your investments.
Jonathon: Welcome back folks to the Mail Right Show. This is episode 222. We’ve got a great special guest. I think it’s going to be a fascinating conversation. And also I’ve got my great co-host, Robert withe me. Our guest is Kaylee Mcmahon. Thank you very much. I always butcher my guest names. It’s nothing personal Kaylee. I’m sure we can have a fascinating discussion. We already had a pretty interesting pre-discussion. So Kaylee, would you like to quickly introduce yourself to the listeners and viewers?
Kaylee: Sure. my name’s Kaylee McMahon. I live in Dallas, Texas. I came from a background of doing a little bit of everything. IT, babysitting, dental, sales and equipment, and building practices. And got into real estate basically by accident and now I’m a real estate investor. And investor or helping females to be able to change their mindset and be able to use like I did real estate as a vehicle to have a healthy, thriving life is really where I’m at right now. Or that’s what I’m pursuing every day.
Jonathon: That’s great. And I’ve got my great co-host, Robert. Robert, would you like to introduce yourself to the new listeners and viewers?
Robert: Yep. My name is Robert Newman. I’m an Inbound marketing specialist that has been specializing in residential real estate, SEO and other forms of inbound marketing for God. Damn. 12/13 years now.
Jonathon: So Kaylee: I thought I would start off with this question. You know we have a lot of agent female agents that listened to this podcast luckily more every month. So I thought your perspective, you know, a lot of ’em are looking to invest in property either for themselves or for clients so you were acting like a normal agent. And you got into investment insights how a female agent for every client or for themselves can take those first steps into the world of property investment.
Kaylee: Yeah. So I used to think that you had to start small and go big. And everybody really I think starts thinking that at some point in time. So, you know, you’ll think, okay, like me, I had to get a license. And then once I had a license, then I could sell some properties. And then I could have some exposure to dilapidated properties, purchase one with some commissions that I made. And then either house hack, meaning live in it, live in a portion of the duplex, for example, it had the beta mortgage. Or you know, I can flip a single-family one small and turn it into a longterm hold. Or when you’re doing minor rehab or a major rehab and then you know, flipping and selling it. And then I already knew though at that point in time that what I really wanted to do was go large scale.
I knew that if I was going to get into, say, flipping a house that I was going to want to do 10 a month, 20 a month, 30 a month, whatever it was. And so what ended up happening is I learned the concept of multifamily investing. And so that’s essentially what I wanted to do. But just more economies of scale. And it’s in one like of 50 houses under one roof or whatever for example. So you know, one plumbing system, one roof, one foundation sometimes and et cetera. So I already knew where I wanted to be. And now looking back, there’s a lot of mindsets that was there that I didn’t realize that probably could have done this from the job from day one. But a lot of people do start off as an agent to become an investor. Now one thing to keep in mind there versus getting an education in investing by just literally just go find some other investors that are doing well. Doing a lot of whatever it is you want to do and partner with them.
And basically you have some value sets that you can help them with. Like your boots on the ground. You help, you know, be the general contractor on a job site. They’ll teach you how to do it but then let you actually do the work. And so you earn your stripes if you will and earn your split of the sale commission. Are not commissioned but the proceeds of the sale or whatnot. Instead of having to try real estate and then being a residential agent and then having a license. Because of the reason why in every state is different, everything is totally different. But is whenever you have a license, first of all it’s expensive. Second of all, you are a fiduciary. So you carry a lot of responsibility when it comes to material deficits. When there’s like something that if you hear anything, you have the duty to tell your clients.
You have to be prudent. You have to be honest. You owe your clients certain duties. And that’s when you’re representing somebody. So if you’re going in on a deal, not representing somebody, don’t necessarily need to do any of that stuff. It’s you buying the house or you and your partner or whatever and whatever risks associated. It’s your job as business owners to do your due diligence on the property. And then essentially take your own risk at whatever you want to do. So then though on the back end, say if you’re going to sell a house and that does go to another consumer at the end there, is as a good person and is a good business owner. It is. It is your job too. Like tell them all the material facts and disclose every, everything, everything, everything. So that’s one good thing about a real estate agent education is, you know, everything is all about legal stuff.
I mean they don’t even teach you in school like how to do a comp on a house. They don’t even teach you like what different industries are out there or how to rap notes or anything. I don’t teach you anything about investing or really even how to run a comparative market analysis on a housing issue. So it’s a liability, liability and legal stuff. So at least that teaches you how to, as a person, individual how to make sure that you’re always disclosing everything. Like if there the house was a burnout before, if there was a debt that there was like whatnot, you really do just to do good business, you’d need to do those things. You need to tell your end buyer what happened. Though it doesn’t fall back on you, you just tell them. So just it’s a lot of liability and inexpensive and time to continue doing your continuing education and what not to have a license and be an investor at the same time.
However, right now I have my broker’s license currently. And the reason why I keep it is because I don’t need it at all for what I do. But I have a brokerage running kind of on the side. And there are people that are agents and they do their thing. So that helps have a business that’s got cashflow running through it. So I can leverage that to make loans for other things that I need or loans for other, business line of credit or whatever. So it’s helpful for those things. But also on the buyer side if, so for my commercial transactions, there is not a buyer’s agent. When we go into these deals and the seller’s agent, they have the property and the seller. And then we have our attorneys write all the documents up. We don’t need a buyer’s agent, so we’d just go buy it.
But what I can do is, because I have a license I can legally add-in. And there’s a strategy I use to it. My friends do this, but I can legally add-in like a point or whatever to the buyer side. It’ll come off what we’re paying or add to what we’re paying or whatever. But you just build it into the deal. And then we’re able to essentially have a chunk of cash that comes from closing these deals. That is getting paid out on the ultra statement, not the HUD statement. So your closing statement, the ultra statements, what it’s called, and there’s a line item that says paying whatever brokerage. So that goes into our trust account or a brokerage account. And then I use that for marketing, advertising, leads, people, all this stuff to run that business instead of paying it out of my own pocket.
So kind of helping each other running color if you will. So there’s a lot there I guess to answer.
Jonathon: Over to you Robert.
Robert: Earlier in your comments, you mentioned, you kind of casually mentioned that you’d go out. If you were doing it all over again today, you’d start at a much higher, more elevated investment mindset. Is the way you were describing it is the way I understood it as you were describing it. But then you also said, Hey, I would just go out and find myself some partners right out of the jump. So let’s just say that I am a real estate investor and I have no idea how to find real estate investment partners. How would I do that?
Kaylee: Ask around. I mean there are, and you have to be very obviously careful with your time because there’s a lot of. I don’t know what the percentage is, but there’s a large percentage of people when you go to your local REIA. So real estate investment association, that’s a good place to start. It’s usually a big group of people that do a random bunch of different investment vehicles. But there was one here in Dallas called propeller, which was a tree investor education network. And so that was kind of my exposure. But if you’re in a room of people, you need to go up to that person and ask them, okay, what do you do? Okay, cool. How much of that have you done in the last 30 days? Like for example, I’m a wholesaler, I do assignments, I whatever it is that you do, I buy notes as an investor. And then, because I don’t know what percentage is a large percentage or just like full of crap.
You know, so you want to find the people that are not. So finding the ones that are not, again, it’s easy if you kind of, not easy, but it’s easier if you just kind of ask around. Like, Hey, who in this room has done a high volume of X? You know, and then go introduce yourself to that person. And do your due diligence on that person and kind of figure out literally how much have they done. And for me, a comfort level is can we go look at something that’s in progress? Can you show me what you’ve closing sold? What agents do you work with to list it? And things like that. And then they’ll have information to share with you. If they’re like muddling over their words and they can’t talk about what they’ve done. Like there’s your sign, but really asking around for track record and especially people that have done business with them.
So if someone goes, okay, Bob and Jane and Terry do a high volume of flips or whatever. And then you go ask out there in the universe of investor people, like who all has worked with these people. Not who’s your buddy and who’s doing like nice little recommendations, who is actually given this person money and seeing it on the back end whenever it’s done being sold. So we call it going full cycle on a deal. So that’s the key thing. Even in multifamily, it doesn’t matter. But that’s how I have found a partner.s cause I need to find people that have done more than I have and add value to their life in some way. And then everybody wins. Then, you know, obviously, we split profits, I help them get more done than they could on their own. Whatever it is that you bring to the table, that’s how everybody wins.
Robert: Gotcha I think. So I just took your advice and Googled real estate investment groups where I’m at in Los Angeles. And I came up with a meetup group or Los Angeles real estate investment club that has 4,200 members. I presume, Kaylee, that you’re saying that as a first step a person could go to a meeting like this. This is a little out of sight of our bandwidth. We are mostly a real estate marketing podcasts we talk to, but we do occasionally have more experienced brokers and other real estate people come on the show. And so John and I decided that we’re taking the thought, what if these agents or want to somehow break out of just being an agent and do some kind of investment themselves. We don’t do that much of that kind of conversation.
So I’m going to keep it real basic because I don’t know, I’m not an investor. I focused on residential real estate sales myself. So the meetup would be step number one. And then if I heard you correctly or the way that I interpreted your other comments was. One, if you do meet somebody at a meetup or some other place that you’re trying to network and you’re talking about a deal with, somebody are then going to say, who have you done business with? What are the projects you have in the process? Can I see any of these projects? Did I understand that?
Kaylee: Yeah. If you’re wanting to go stepwise by kind of like the next thing to do at that meetup. You would go ask around to people and say, you kind of need to get an idea of what you want to do as far as being an investor. Look at YouTube and go wholesaling note flipping, flipping houses, multifamily. You’d go to that meetup and ask around and be like, who does a ton of multifamily here? And people would usually point you to one person or two people or something in the room and then you go talk to them. And then at that point then it’s your job to kind of do your due diligence on that person like you said. And ask them if you know, you’re interested in it. You kinda also as a person need to have a story because part of investing there, you have to be different. And so for someone to want to work with you that you’ve got to add value to their life. And some of that value sometimes is you having something that either happened in your life or something that’s important to you, that real estate is going to be the financial vehicle to get you to the end of that game.
And so like for me, my, my original mentor, he loves women. Not in a weird way, but he just has a ton of sisters and all of his property managers and accountants and everybody that works for him are women. And he’s like, they’re, they’re more honest. They work harder. All these things that he just liked about women. And I go, exactly, that’s what I’m doing to the commercial real estate world as my why is to have more women in commercial real estate. So so that worked for him and then I found value to add to him later. But basically you’re, you’re trying to vet somebody. But also they’re not gonna want to talk to you if you’re just sitting there being just trying to ask them a million questions and be like, okay, you’re super annoying. You kind of have to have some personal connection.
And then once you guys can kind of add value to each other, then it would be like, okay, I would, I’d be interested in getting involved with you. What how many of these apartments have you bought in the last year? And how many have gone full cycle that you bought and then flipped or whatever they do with it. Sometimes longterm hold. But then you’ve sold it at the back end, and they answer you. And you could ask them who their partners on those deals were and talk to those partners, ask how it went. So yeah, that’s a good starting. So you know, you have a solid foundation moving forward. And that you’re not listening to someone that’s making it up. You’re listening to someone that’s done it.
Robert: Roger that.
Jonathon: I think it’s time for us to go for our break actually. We’ll be discussing this fascinating world of investing with Kaylee when we come back.
Announcer: Do you want quality leads from homeowners and buyers, right in your own neighborhood? Then you need Mail Right. It is a powerful but easy to use online marketing system that uses Facebook to generate real estate leads at a fraction of the cost you’d pay from our competition. We stand behind our work with a no question asked 30 day money back guarantee. So don’t delay get started today. Go to mail-right.com.
Jonathon: We’re coming back. We’ve had a fascinating discussion already about the world of investing, which I know very little about. So I thought Kaylee was the riot lady to come on the show. Cause I’m sure a lot of you agents get requests or interested in this side. So it’s always best to talk to the expert. So Kaylee how long were you an actual agent broker before you did your first investment deal? And can you remember what that deal was?
Kaylee: Yeah it was a single-family flip and it was about a year.
Jonathon: It was about a year. So not that long. So can you give some data how that first deal came about?
Kaylee: It was actually, I knew I wanted to do a flip house or I thought I did, I liked the concept. I wanted to do flips and I liked investors. And a lot of agents are like, it’s funny because at least in Texas there’s a lot of ladies here in your eyes here that think that like investing is like illegal. And that people are crooks and investors are bad. And I was like, you’re out of your mind. Show me some kind of spreadsheet that proves this because this is all hearsay at this moment. So I went ahead and figured it out myself, exactly how I said earlier, found a local group and kinda got involved and found some people that were doing high volumes of something. And then I forget how I did this. Oh, I was actually, I had an ad out there that was for a house in Prosper and this person was asking about the house.
But then they also asked do you have anything with a lawn? And I was like, well that’s an interesting request. Okay well, I’ll look for that. And then I kind of started picking around Jason a little bit more and asking like, well what’s the lots? And he goes, well cause you can subdivide and sell it off or I can subdivide, build new. Cause I do, I’m an investor. So I have people funding my projects and we basically build and then we split the profits, sell it and whatnot. And so we ended up having a close relationship and I sold him a whole bunch of lot And then he built new and then he’d let us, you know, listed on the backend for him. And even now tonight I’m going to be at the real estate investor meetup. That’s their pitching my commercial deals now cause I’ve grown quite a bit.
But you know, he helped me kind of see a different world. So that first deal came about because I was actively helping investors, like three of them. One was more of the funding person. All he wanted to do is be passive and like give other people money and let them do stuff with it. One of them was a local person in that community, which who bought and sold everything in that town, gas stations, land. I mean he had no specific thing that he did. And then my investor Jason, who wanted a certain price point and wanted a certain return at the back end. And so to do that, he knew how to say, okay, so we need to buy this price. And buy it this way so that we can get that return that I want. And so I was able to find it in a suburb of Dallas. And even now he’s just done a ton of work there and his stuff sells in four days.
He does such a good job. So I was actually lucky that that happened. But they had the local guy, I ended up buying a house from him and as an agent I had some money. You know, I wasn’t like a baller agent doing like 10 20 transactions a month. I was just kind of laid back. I was like, okay, let’s sell like two, three houses a month. I don’t care. And if they go into next month and don’t close, they still don’t care, you know, because I just never wanted to be that agent that likes to pressure people or anything. So and having Jason doing this, these lot transactions or undeveloped land transactions also helped with learning. And then also being more comfortable financially. So there’s a house that the local guy owned. And he’s like, you want it?
And I’m like I don’t know. I’ve never done this before. I have no idea. So I turned to Jason and he was already developing in that community. Very slowly starting to do the pointing like slab foundations and starting on the sticks and the framing and what are the houses. And this was a preexisting house and it was a burnout. So I was like, well, no one else is going to touch it, but it’s 19,000 bucks, like I’m gonna buy it. So I needed something that was super cheap. And again, now knowing how to run numbers on multiple different types of investments. Now looking back, there’s definitely a better way to do this.
And if anyone wants to contact me out there, who is thinking about buying a flip and wants to know how to schedule your work with your contractors, how to basically, you know, never do a cost plus contract that will screw you over completely. I had to go through that. There’s like literally the hardest thing I ever did, it was so annoying. I like, took this big loan out from the bank, had my cash to close it and then was working on this thing. And these people just like, I mean, I wouldn’t let them make me cry, but I was borderline weekly because it was just constantly like I’m very empathetic .and that’s probably one of my weaknesses if you will. When it comes to working with crackhead contractors that need their fit.
I’m not kidding. It like needed to fix for the week. So every Friday they’re like, where’s my check? I’m like, I don’t know. The plumbing doesn’t work. Where’s your check? Finish it, you know? So the point is, is that I could show somebody different ways to do an estimate on what type of systems are going to see. Always when you’re looking at something, you walk with an experienced contractor that does this with other investors all the time. They will walk through the house with you and you don’t spend very much time. This is something I learned from my girlfriend who is 21 and she does probably like 10 houses a month. You don’t spend very much time in a room. You kind of go, all right, what are you thinking here? What are you thinking there? What do you think in there? And they’re going to get you a quote on like a bathroom, a quote on a kitchen and it’s going to be a chunk of different one lineup or it’s going to one area but several different line items.
Like we need to replace the PVC. It’ll be this much. We need labor costs, there’ll be this much, we need 10 door drawer poles. It’ll be this much. You know, you literally want everything itemized out in there. Exactly what they say that they’re going to do. No want three bids to cause you’ll get a super low one. You’ll get a super high one and something just right in the middle. And then I could walk somebody through this process now. That just sending them like several different spreadsheets, just walk through, fill this out. Then you know exactly what you need to put into a contract. And that’s the good thing about being an agent, I guess. Well, not really because you’re not an attorney. So you actually need to be doing these deals, not as an agent. You have to do it as an individual because when you’re writing up these contracts as an agent, you can’t legally do that because you’re not an attorney and they’re not a problem and it’s not a promulgating form.
So anyway, but there are ways to avoid a lot of headaches. And be able to say, if you’re not done by this date, then you’re going to be charged $100 per day. Or a meaning subtracted from your, your ending bill that we projected. And if you finish early in, in the same way, I’ll pay you more. And anyway, just different ways to get it done on time, get it done and make sure it’s profitable. Well because your contractor is like the biggest reason why your end sell price is going to fail based on the quality of work where you have the, you know, lower the price to et cetera. So got it. You got to do that right. But that was, that was like one of the hardest things I had ever done ever. Very painful. And so for me, I quickly learned that I don’t like to be micromanaged. And I don’t like to micromanage grown men.
So this is not for me. This is not what I enjoy. And then whenever people tell me about like having to deal with contractors that are jerking them around, because in Texas right now, there’s a ton of work. There is a lot of development, there’s a lot of flipping. There’s a lot of, I mean, cause we have 500 people a day coming here. So there’s a lot still going on even though it’s been a bull run market for a long time. Meaning that it’s top of the market like the market has just got up and up and up and up. So so they have a lot of work in a time where it is low. And there’s low construction and low flipping and you know, there’s not a lot of demand. Then they’re desperate for work and they’ll listen to you more. But right now, I mean, they’re like, Oh, half-finished this job, half-finished that job, get paid half here, half there. I mean, anyway, so for, I didn’t like to micromanage, so I knew it wasn’t a good fit for me. As far as flipping houses go in, there are a lot harder than you think.
Jonathon: So I’m gonna put it over to Robert actually. Over to you Robert.
Robert: About the contract. No, no, no. You started this thread, you got to continue it.
Jonathon: So I’m not surprised what you’ve just said actually. Because dealing with contractors I’ve actually invested some money in the property about six years ago with experienced individual and I did rather well out of it, but they had quite a messy divorce. So our partnership, I had to stop basically. But I know dealing with contractors, but you normally deal with that by having a small team of contractors that you trust and have some relationship with. Because fundamentally I think the frayed of everything we’ve discussed so far Tylee is it’s about relationships. Isn’t it? Would you agree with that?
Jonathon: So you decided that flipping wasn’t your cup of tea. Because of the experience with your contractor friends. So what was the next step actually? Flipping was not going to be it. So what did you decide was going to be your cup of tea?
Kaylee: Well, you know, so for example, if you look at an agent that hops around from brokerage to brokerage to brokerage, it’s the exact same thing. It’s somebody that goes, okay, I tried it over here and it didn’t work. I’m just going to move on to something else. And that’s not what happened here at all. You have to dig back in. And usually like say if you’re in the situation I just mentioned, you go have a conversation with the team, the broker, whatever it was that didn’t quite work out. So at least you learn a lesson. I’m more proactive so when I feel like kind of going, you know, then I go talk to them right then figure out where we can figure out and meet in the middle. But it’s the same thing on this contractor thing. I ended up having my 21 almost a decade year younger than me girlfriend who flips way more houses than me.
I had her come out and I was like, all right Claire, what is going on? Why is this thing held up so much? Why are there three guys on my job site where there’s only one or maybe two working? Why am I being charged for this? Do I need to put a camera in? Like all this stuff. And anyway, she just was like, basically, we’re going to have to redo this to where on the big boss biatch and I’m coming in and you are someone that works for my company. And I’m going to be keeping an eye on what you’re bringing back to me as far as reports go. She was like, they don’t know who has the note at the bank. They don’t know any of that stuff is in their business. Don’t ever tell them that stuff. But, so she was just the one that was just essentially saying what I was telling her, saying it out loud in an experienced way.
So she helped long story short what, what was happening. And this happens constantly. Tons of people I know that get started unless you’re literally doing a deal with someone else who does a bunch of them and then they can essentially, your profits won’t be as great. And so again, that was at a time where I was like, Oh, I just want all the money. It would have been beneficial to be like, you know what? Half is great just so I can do it right the first time and get in and out of it at a decent time and whatnot. But this happens with people constantly. And then as a woman you know, it’s like, and as a cute girl or woman, they’re like, Oh, how? And you’re young and you’re new and they know it and you’re a girl and they’re like, you’re dumb.
Like there’s all kinds of things that when they’re trying to explain like the way that they’re putting the caulking on a PVC pipe, like a corner piece or they’re trying to explain something. Again, this is not a level of expertise that I had starting off. There was a lot that I learned, but they know that and so they want to take advantage. And so I just really didn’t like that a mindset. You know, I think professionals shouldn’t do that. But in the end, this was even a personal referral from somebody else who had used this person before. So, you know, I was just like, how many more of these? And I started to realize getting involved in this investing group that there were a ton, a ton of contractors out there. And so a ton of house flippers, a ton of people in that single family space.
And so what happened was there’s a way right now to kind of get away with stuff like that. Because people are too embarrassed to put out there. Like I failed because I didn’t know what I was doing, but like the biggest issue in my house was the foundation. It was a bad choice of mine. Everything else worked out okay. But, you know, that was a major issue and then that became a major issue in the end. Something I had to pay for rectify after the fact out of the sales price. You know, again, lesson learned. But you know, being able to partner with somebody I think helps a lot with being able to deal with that inexperienced level. And be able to learn and not get screwed over by contractors. And then essentially having less profits than you even would have had a partner in the first place. But then going into multifamily, that was the question.
Jonathon: Yeah, I think we can end the podcast part of the show. Hopefully, Kaylee is going to agree to stay on for another 10 minutes. And this you’d be able to see as our bonus content on the Mail Right YouTube channel and also the male right website, the whole interview plus the bonus. And we’re going to be talking about attitude and what the right attitude, why it’s so important. It’s something that Kaylee is really very passionate about. So Kaylee, how can people find out more about yourself, your methods and what you’re up to in general.
Kaylee: I’m very out there on social media, so if you want to go to my website, which is www.theapartmentqueen.com we’ve got an active blog. I blog every week. And usually it’s not just what I’m doing at work because there’s obviously a human side to all of this. So that has a little bit of, especially if I’m frustrated with something, that’s kind of a point in time where I decided to talk about things. Because I want lessons that I had to learn. I want people out there to learn those lessons before having to maybe make those mistakes. So on my website. And then I’m also same name on Instagram, the apartment queen. And then you could email me if you have specific questions, but on those places, there’s content on there that you can watch and learn from.
Jonathon: Oh, that’s fantastic. And Robert, how can people find out more about you and what you’re up to?
Robert: As always, they can go to inboundrem.com. Well, I’m in the middle of my end of the year content updates. They’ve started to get posted. You’ll see a new best of the real estate marketing website providers for 2020 on my site early here in 2019. And that’s the best way to find me.
Jonathon: Oh, that’s great. So we’re going to finish the podcast part of the show folks. If you’re really generous, tell people in your office that they should be listening to me and Robert. I think in 2019, we’ve covered as an amazing guests, had some amazing conversations like Kaylee. And they would learn a lot. And if you’re really generous and you’ve got some great tips and insights. Give us a review on iTunes. We’d be back next week. We have a great guest or internal discussion between me and Robert. We’ll see you soon folks.