00;00;00;00 - 00;00;21;08UnknownThe problem we have today is affordability more than anything else in the real estate industry, meaning new people, young adults coming in to their own aren't making enough money to be able to buy a house.00;00;21;11 - 00;00;52;10UnknownWelcome back to the Seven Finger Flipping Podcast. This is the bottom line where real stories meet real numbers. Each episode, we bring you real world investing insights, strategies, and stories from our own deals and experiences in the field. At the end of each episode, we'll always answer a question from our very own seven tough podcast listeners. Today, I have the honor of introducing my co-host like I do every time we do this.00;00;52;11 - 00;01;17;04UnknownDoctor. Sheriff Llewellyn, welcome back to the show. Thanks, Adam. It's going to be a good one. Cool. And as you guys know, you guys probably been tuning in to the bottom line for a while. But if you haven't. Each episode, I typically dive into something tactical and Doctor Fall and dives into the mindset and mental performance of entrepreneurship and the real estate industry.00;01;17;04 - 00;01;46;13UnknownSo I'm going to lead off today, and we're going to talk about the 50 year mortgages. That is all the rave on social media and some of the fear mongering in the media. And I just want to dispel some stuff and bring some stats. Okay. I'm not going to give you an opinion, Doctor Fallon. I'm just going to give you some stats and I want to hear your perspective on it.00;01;46;13 - 00;02;14;15UnknownSo the big question is is it good or is it bad? Does it help people or does it hurt people? And let's just go through what it looks like. So if you the average price point of a house nationwide is about $400,000. Now let's assume interest rates are 6% across each of the three loan products. 15, 30, and 50 years.00;02;14;18 - 00;02;50;13UnknownOkay. And a 15 year loan for $400,000 at 6%. Your monthly payment would be $3,376. Your total interest paid over 15 years would be $208,000. The difference in the 15 year loan is a lot of your payments are actually going towards the principal, and not just the interest. The interest is what the bank gets out of the loan, but your payments are higher.00;02;50;16 - 00;03;19;18UnknownThere's some other facts, some circumstantial things that we have to mention before we go to 30 and 50 years. And that's what's going on in our current day economic environment. That would even want us to introduce something that's a longer term 50 year loan. Well, the problem we have today is affordability more than anything else in the real estate industry, meaning new people, young adults coming in to their own aren't making enough money to be able to buy a house.00;03;19;21 - 00;03;46;07UnknownAnd a lot of buying a house is about your credit, and it's about your income. When they look at your income, they're comparing your income to the debt you're trying to take on. It's called debt to income ratio. It's expensive to live today. You need your DTI, your debt to income ratio to be lower. So for a young person and most people who are buying their first house, the monthly payment is the most critical thing.00;03;46;09 - 00;04;17;26UnknownThat's how they're figuring out what your debt to income is and whether or not you can afford this on a monthly basis based on your income. Okay, so 15 years, $303,376 a month, compared to 30 years, same loan, 400,006% interest, $2,398 a month payment. That's almost a $1,000 decrease per month and payment from 15 to 30 years. Now, why do I even bring up 15?00;04;17;26 - 00;04;41;03UnknownBecause most people are getting 30 and now we're talking about 50. Well, because we've got a bunch of people going, oh my gosh, 50 is crazy. We wouldn't do this or we would do this. But I don't hear anybody arguing or advocating for 15 versus 30. So I think it's only fair that we talk about the range of products that are most common.00;04;41;06 - 00;05;18;24UnknownSo 30 years, $2,398 payment compared to 3376 on 15 years. Now remember $208,000 interest on 15 years we go to 30 doctors, one $463,000 in interest will be paid over 30 years. What does the 50 year look like? Okay, so 30 years, $2,398 payment, 50 years 2200.00;05;18;26 - 00;05;57;04Unknown2200. How can that be? Because I doubled the of term 15 to 30 and from 32. So that was 15 additional years. And I just gave you a 20 year addition. And now it only dropped the payment by $198. That is unexpected. That doesn't feel that much more affordable, does it? No. Okay. So what's the interest? So if you hold on to that and you pay it for 50 years, by the way, the average lifespan of a man, at least I know is about 79 years.00;05;57;06 - 00;06;35;04UnknownSo what's that's like 39 years old is midlife. We're talking about a 50 year mortgage, $804,000 in interest. If you hold that thing over the life of it the first ten years, you're not even paying much on principal at all. I'm going to give you one more fact, doctor, for a while. And before you weigh in with your opinion on whether this is good, bad or indifferent, and the fact is, the amount of time that people used to live in their home before they moved, on average, was seven years.00;06;35;06 - 00;07;04;28UnknownNow it's 11 years. So how relevant is the length of that term when you're talking 30 to 50 years now? I'd love to hear your opinion. After hearing the data and the facts about this 50 year mortgage that's being proposed, and if it's good or if it's bad. My answer is it depends, which is a very political well, that's what I said, right?00;07;04;28 - 00;07;33;08UnknownIt depends. Okay, so here are my thoughts. I think there is value for a homeowner to have increased options and flexibility to be able to get into home. So I don't think it's categorically bad or wrong, but I have some major concerns because first of all, our culture is one that is becoming way too complacent with debt, government all the way down to the individual.00;07;33;08 - 00;07;59;05UnknownThe amount of consumer debt that an average person has is staggering. And I so many people can't ever dig themselves out. And so the idea of making it easier to just acquire a, you know, large amount of debt and you're just kicking the can down the road, seem a bit dangerous. So I don't, I don't love it.00;07;59;08 - 00;08;24;16UnknownAnd as a real estate investor that has lots of conversations with sellers who we are potentially looking at buying their property, you know, some up, we have the privilege of talking with a lot of older folks that own their own homes, and they sure have a lot of pride in, you know, having a home paid off. Well, how how is that going to work?00;08;24;18 - 00;08;47;07UnknownIf by the time your loan ends, you're like, dead for 20 years. So so I think that changes the way that retirement looks. Because now you don't have a house free and clear that you don't have to worry about a mortgage payment. So that's going to wreak havoc on retirement when people have less money. And of course, Social Security is who knows.00;08;47;09 - 00;09;13;17UnknownAnd so I think, I think there's just a lot of problems coming down the pike for this. And even if you don't expect even if you're like, you know what, I'm going to follow the average. I'm going to live in that house for 11 years. Then we'll we'll pivot to the next one. What I know is going to happen, because on the realtor side of my brain is people are going to reach out to me and then be like, hey, can you tell me what my house is worth?00;09;13;17 - 00;09;40;01UnknownAnd I'm looking at selling it and I'm going to do that, my seller, net sheet. And I'm, we're going to find out that because they had a 50 year loan at the Paydown was extremely tiny, and now they're underwater and they can actually sell because they don't have enough equity to sell. So I think there's a lot of challenges that are going to happen as a result of this.00;09;40;03 - 00;10;14;20UnknownAnd I would predict more challenges and probably benefit, but I don't think the challenges are going to be realized right away. I think this is a very short sighted solution. I don't necessarily disagree with you. I think there's two types of people, though. I think there's the people listening to this podcast who are generally responsible, growth minded, understand the power and the value of real estate, understand responsible use of leverage or debt.00;10;14;23 - 00;10;46;09UnknownBy and large, that's who's in our world now. That's not everybody, of course, but I'd say most people looking at this podcast and things like we're doing are really thinking a little bit differently. So in my humble opinion, if somebody is trying to get into maybe their first property doctor full on and they're thinking about house hacking, it, and this little difference of couple hundred dollars is the thing that led some getting to the house.00;10;46;16 - 00;11;21;08UnknownAnd they rent out the rooms. And these people are paying their rent of 20, you know, 2200 bucks, and they're able to take that same money that they would have been spending on living and build their emergency fund, and then build their investment fund and put it into an asset that helps to create net worth or cash flow in their life, whether that's stocks and bonds or real estate or buying rentals for that person, the person that's listening to this podcast, I think it could be powerful.00;11;21;11 - 00;11;45;16UnknownAnd by the way, just on average, the real estate market tracks with inflation or better over the history. So you're at least going to get some appreciation over a long enough period of time. And if you're going to live in a house for 11 years, there's very few 11 year spans where the real estate market hasn't gone up.00;11;45;18 - 00;12;05;20UnknownSo while you may not get a massive amount of debt paydown on that property, you may get some appreciation. You're probably going to get a combination of a little bit of appreciation, a little bit of that pay down. You're going to create a gap, which is going to create some equity. It's going to allow you to have options in the future.00;12;05;23 - 00;12;37;20UnknownAnd for some, think about somebody who's 20s, mid 20s or even early 30s like this move could be the move that changes their entire financial future, but they're looking at it from a smart perspective and being responsible and understand the debt that they're taking on, and they're doing it with intention and for purpose. Now, I agree, I think when we look at those numbers and we go, dude, it saves us 200 bucks a month to us, that's inconsequential.00;12;37;23 - 00;13;07;14UnknownBut for some people, that could be the difference in their DTI that allows them to get into their first property instead of renting for the next ten years, which allows them to probably build some level of wealth. I'm curious what you think on that position. I don't disagree, I, I think there are a lot of benefits, and I think the benefits, as with any financial tool, come to those who understand the tool and have wisdom.00;13;07;17 - 00;13;52;11UnknownAnd I'm just I'm a realist. I my perspective in this as a realist, as looking at the majority of Americans, if this becomes the norm, I don't think it's going to be helpful that given I have zero control over whether this happens or not, and if it does happen, you can bet your bet, your bottom line that I'm going to take advantage of it at the times where it makes sense for me, and also as an investor, this will potentially provide some more opportunities for me to buy houses from people in distress that don't have another option that kind of got themselves in in trouble with buying a house that they couldn't afford, or something00;13;52;11 - 00;14;30;14Unknownshifted and they couldn't afford. And then maybe I can take over their 50 year mortgage. Sub2. And, you know, so so there's opportunities and everything from a cultural, widespread perspective. I don't love it. What I would rather see is efforts to promote creative building options like 3D printing homes. And there's a lot there's a lot of options to build homes that are not well accepted by municipalities because they're just too new, but they're way cheaper than the standard construction.00;14;30;14 - 00;15;01;00UnknownI would love that to get more focus than a 50 year mortgage. I think that's fair. And when we look at the like, general population, I'm I, I'm with you. I'm not sure that this really helps the average American. The here's the problem. And this is why we have a wealth divide in the country. Jay Scott, we we, you and I just were at an event, in Clearwater, Florida, with our members and seven figure flipping.00;15;01;00 - 00;15;23;07UnknownAnd we're so fortunate to have Jay Scott come on and talk about the state of the market. And one of the interesting things he said is he talked about the k-shaped recovery post-pandemic, meaning like, hey, the economy recovered, but it was k-shaped like a part of the a part of the population shot up and a large part of it actually shot down.00;15;23;09 - 00;15;48;16UnknownSo the top 10% are lifting the economy up through their spending, while the bottom 90% can't spend, they can't save. They're getting crushed. So think about that. Only the top 10% are living comfortably, still spending money, still able to save, while the bottom 90% are going down. They're taking on more consumer debt. They're unable to save, they're unable to spend.00;15;48;19 - 00;16;09;16UnknownAnd spending is important, right. For the country, GDP, the health of our economy, all those things. So and by and large, those of us who are here doing what we're doing, talk about what we're talking about. We found the American dream, the ability to come from nothing and into something. And we're learning all the tools to do that.00;16;09;16 - 00;16;32;06UnknownThis is great for us. It's another tool for us to win. But by and large, for the other 90% of people, it's not that helpful. And I would tend to agree with you on that. I knew you would know. And yeah, of course. But, you know, Jay Jay made those points and I thought, I honestly, I thought Jay's Jay's, presentation was incredibly impactful.00;16;32;06 - 00;16;56;18UnknownI don't know if you were tuned into that one. I imagine you're the problem we have today is affordability more than anything else in the real estate industry, meaning new people, young adults coming in to their own aren't making enough money to be able to buy a house.00;16;56;20 - 00;17;27;23UnknownWelcome back to the seven Figure Flipping Podcast. This is the bottom line where real stories meet real numbers. Each episode, we bring you real world investing insights, strategies, and stories from our own deals and experiences in the field. At the end of each episode, we'll always answer a question from our very own 7 or 5 podcast listeners. Today, I have the honor of introducing my co-host like I do every time we do this.00;17;27;23 - 00;17;52;14UnknownDoctor. Sheriff Llewellyn, welcome back to the show. Thanks, Adam. It's going to be a good one. Cool. And as you guys know, you guys probably been tuning into the bottom line for a while. But if you haven't. Each episode I typically dive into something tactical and Doctor Fall and dives into the mindset and mental performance of entrepreneurship and the real estate industry.00;17;52;14 - 00;18;21;26UnknownSo I'm going to lead off today, and we're going to talk about the 50 year mortgages. That is all the rave on social media and some of the fear mongering in the media. And I just want to dispel some stuff and bring some stats. Okay, I'm not going to give you an opinion, Doctor Fallon. I'm just going to give you some stats and I want to hear your perspective on it.00;18;21;26 - 00;18;49;25UnknownSo the big question is is it good or is it bad? Does it help people or does it hurt people? And let's just go through what it looks like. So if you the average price point of a house nationwide is about $400,000. Now let's assume interest rates are 6% across each of the three loan products. 15, 30, and 50 years.00;18;49;27 - 00;19;25;25UnknownOkay, and a 15 year loan $400,000 at 6%. Your monthly payment would be $3,376. Your total interest paid over 15 years would be $208,000. The difference in the 15 year loan is a lot of your payments are actually going towards the principal, and not just the interest. The interest is what the bank gets out of the loan, but your payments are higher.00;19;25;27 - 00;19;54;29UnknownThere's some other facts, some circumstantial things that we have to mention before we go to 30 and 50 years. And that's what's going on in our current day economic environment. That would even want us to introduce something that's a longer term 50 year loan. Well, the problem we have today is affordability more than anything else in the real estate industry, meaning new people, young adults coming in to their own aren't making enough money to be able to buy a house.00;19;55;01 - 00;20;21;17UnknownAnd a lot of buying a house is about your credit, and it's about your income. When they look at your income, they're comparing your income to the debt you're trying to take on. It's called debt to income ratio. It's expensive to live today. You need your DTI, your debt to income ratio to be lower. So for a young person and most people who are buying their first house, the monthly payment is the most critical thing.00;20;21;20 - 00;20;53;04UnknownThat's how they're figuring out what your debt to income is and whether or not you can afford this on a monthly basis based on your income. Okay, so 15 years, $303,376 a month, compared to 30 years, same loan, 400,006% interest, $2,398 a month payment. That's almost a $1,000 decrease per month and payment from 15 to 30 years. Now, why do I even bring up 15?00;20;53;04 - 00;21;16;14UnknownBecause most people are getting 30 and now we're talking about 50. Well, because we've got a bunch of people going, oh my gosh, 50 is crazy. We wouldn't do this or we would do this. But I don't hear anybody arguing or advocating for 15 versus 30. So I think it's only fair that we talk about the range of products that are most common.00;21;16;16 - 00;21;54;02UnknownSo 30 years, $2,398 payment compared to 3376. I'm 15 years now. Remember, $208,000 interest on 15 years we go to 30 doctors loan, $463,000 in interest will be paid over 30 years. What is the 50 year look like? Okay, so 30 years, $2,398 payment, 50 years 2200.00;21;54;04 - 00;22;32;13Unknown2200. How can that be? Because I doubled the of term 15 to 30 and from 32. So that was 15 additional years. And I just gave you a 20 year addition. And now it only dropped the payment by $198. That is unexpected. That doesn't feel that much more affordable, does it? No. Okay. So what's the interest. So if you hold on to that and you pay it for 50 years, by the way, the average lifespan of a man, at least I know is about 79 years.00;22;32;15 - 00;23;10;14UnknownSo what's that's like 39 years old is midlife. We're talking about a 50 year mortgage, $804,000 in interest. If you hold that thing over the life of it the first ten years, you're not even paying much on principal at all. I'm going to give you one more fact, doctor, for a while. And before you weigh in with your opinion on whether this is good, bad or indifferent, and the fact is, the amount of time that people used to live in their home before they moved, on average, was seven years.00;23;10;17 - 00;23;40;07UnknownNow it's 11 years. So how relevant is the length of that term when you're talking 30 to 50 years now? I'd love to hear your opinion. After hearing the data and the facts about this 50 year mortgage that's being proposed, and if it's good or if it's bad. My answer is it depends. Just a very political that's what I said, right?00;23;40;07 - 00;24;08;18UnknownIt depends. Okay, so here are my thoughts. I think there is value for a homeowner to have increased options and flexibility to be able to get into home. So I don't think it's categorically bad or wrong, but I have some major concerns because first of all, our culture is one that is becoming way too complacent with debt, government all the way down to the individual.00;24;08;18 - 00;24;34;15UnknownThe amount of consumer debt that an average person has is staggering. And I so many people can't ever dig themselves out. And so the idea of making it easier to just acquire a, you know, large amount of debt and you're just kicking the can down the road, seem a bit dangerous. So I don't I don't love it.00;24;34;17 - 00;24;59;23UnknownAnd as a real estate investor that has lots of conversations with sellers who we are potentially looking at buying their property, you know, some up, we have the privilege of talking with a lot of older folks that own their own homes, and they sure have a lot of pride in, you know, having a home paid off. Well, how how is that going to work?00;24;59;26 - 00;25;22;01UnknownIf by the time your loan ends, you're like, dead for 20 years. So so I think that changes the way that retirement looks. Because now you don't have a house free and clear that you don't have to worry about a mortgage payment. So that's going to wreak havoc on retirement when people have less money. And of course, Social Security is who knows.00;25;22;03 - 00;25;48;25UnknownHey. And so I think I think there's just a lot of problems coming down the pike for this. And even if you don't expect even if you're like, you know what, I'm going to follow the average. I'm going to live in that house for 11 years. Then we'll we'll pivot to the next one. What I know is going to happen, because on the realtor side of my brain is people are going to reach out to me and then be like, hey, can you tell me what my house is worth?00;25;48;25 - 00;26;15;10UnknownAnd I'm looking at selling it and I'm going to do that. My seller, net sheet. And I'm, we're going to find out that because they had a 50 year loan, the Paydown was extremely tiny. And now they're underwater and they can actually sell because they don't have enough equity to sell. So I think there's a lot of challenges that are going to happen as a result of this.00;26;15;13 - 00;26;50;01UnknownAnd I would predict more challenges and probably benefit. But I don't think the challenges are going to be realized right away. I think this is a very short sighted solution. I don't necessarily disagree with you. I think there's two types of people, though. I think there's the people listening to this podcast who are generally responsible, growth minded, understand the power and the value of real estate, understand responsible use of leverage or debt.00;26;50;03 - 00;27;35;28UnknownBy and large, that's who's in our world now. That's not everybody, of course, but I'd say most people looking at this podcast and things like we're doing are really thinking a little bit differently. So in my humble opinion, if somebody is trying to get into maybe their first property doctor for on and they're thinking about house hacking, it, and this little difference of a couple hundred dollars is the thing that lets some getting to the house and they rent out the rooms, and these people are paying their rent of 20, you know, 2200 bucks, and they're able to take that same money that they would have been spending on living and build their emergency fund,00;27;36;01 - 00;28;07;13Unknownand then build their investment fund and put it into an asset that helps to create net worth or cash flow in their life, whether that's stocks and bonds or real estate or buying rentals for that person, the person that's listening to this podcast, I think it could be powerful. And by the way, just on average, the real estate market tracks with inflation or better over the history.00;28;07;15 - 00;28;27;27UnknownSo you're at least going to get some appreciation over a long enough period of time. And if you're going to live in a house for 11 years, there's very few 11 year spans where the real estate market hasn't gone up. So while you may not get a massive amount of debt paydown on that property, you may get some appreciation.00;28;27;27 - 00;29;04;00UnknownYou're probably going to get a combination of a little bit of appreciation, a little bit of that pay down. You're going to create a gap, which is going to create some equity. It's going to allow you to have options in the future. And for some, think about somebody who's 20s, mid 20s or even early 30s like this move could be the move that changes their entire financial future, but they're looking at it from a smart perspective and being responsible and understand the debt that they're taking on, and they're doing it with intention and for purpose.00;29;04;03 - 00;29;24;28UnknownNow, I agree, I think when we look at those numbers and we go, dude, it saves us 200 bucks a month to us, that's inconsequential. But for some people, that could be the difference in their DTI that allows them to get into their first property instead of renting for the next ten years, which allows them to probably build some level of wealth.00;29;25;00 - 00;30;10;26UnknownI'm curious what you think on that position. I don't disagree in, I, I think there are a lot of benefits, and I think the benefits, as with any financial tool, come to those who understand the tool and have wisdom. And I'm just I'm a realist. I my perspective in this as a realist, as looking at the majority of Americans, if this becomes the norm, I don't think it's going to be helpful that given I have zero control over whether this happens or not, and if it does happen, you can bet your bet, your bottom line that I'm going to take advantage of it at the times where it makes sense for me, and also as00;30;10;26 - 00;30;41;29Unknownan investor, this will potentially provide some more opportunities for me to buy houses from people in distress that don't have another option that kind of got themselves in in trouble with buying a house that they couldn't afford, or something shifted and they couldn't afford. And then maybe I can take over their 50 year mortgage. Sub2. And, you know, so so there's opportunities and everything from a cultural, widespread perspective.00;30;41;29 - 00;31;12;15UnknownI don't love it. What I would rather see is efforts to promote creative building options like 3D printing homes. And there's a lot there's a lot of options to build homes that are not well accepted by municipalities because they're just too new, but they're way cheaper than the standard construction. I would love that to get more focus than a 50 year mortgage.00;31;12;17 - 00;31;36;08UnknownI think that's fair. And when we look at the like general population and I, I'm with you. I'm not sure that this really helps the average American. The here's the problem. And this is why we have a wealth divide in the country. Jay Scott, we we you and I just were at an event, in Clearwater, Florida, with our members and 70 year flipping.00;31;36;08 - 00;31;58;15UnknownAnd we're so fortunate to have Jay Scott come on and talk about the state of the market. And one of the interesting things he said is he talked about the k-shaped recovery post-pandemic, meaning like, hey, the economy recovered, but it was k-shaped like a part of the a part of the population shot up and a large part of it actually shot down.00;31;58;17 - 00;32;23;27UnknownSo the top 10% are lifting the economy up through their spending, while the bottom 90% can't spend, they can't save. They're getting crushed. So think about that. Only the top 10% are living comfortably, still spending money, still able to save, while the bottom 90% are going down. They're taking on more consumer debt. They're unable to save, they're unable to spend.00;32;23;29 - 00;32;44;23UnknownAnd spending is important right for the country, GDP, the health of our economy, all those things. So and by and large, those of us who are here doing what we're doing, talk about what we're talking about. We found the American dream, the ability to come from nothing and into something. And we're learning all the tools to do that.00;32;44;23 - 00;33;07;17UnknownThis is great for us. It's another tool for us to win. But by and large, for the other 90% of people, it's not that helpful. And I would tend to agree with you on that. I knew you would know. And yeah, of course. But, you know, Jay Jay made those points and I thought, I honestly, I thought Jay's Jay's, presentation was incredibly impactful.00;33;07;17 - 00;33;41;19UnknownI don't know if you were tuned in to that one. I imagine you were. I'm a bit of a econom economy geek, and so I love listening to those, macro economic kind of talks so that I can better understand what I'm doing in the bigger context, for sure. Yeah. I mean, it all matters, right? And we're. Well, what I also loved about, I know we're doing a little Clearwater recap here for a second, but what I also loved about, my conversation with Jay and what he was presenting, he said, you know, he told me, he said, hey, I feel at home in this room because I came into the real estate industry00;33;41;19 - 00;34;16;16Unknownin 2008 as a house flipper, and I still am part of flipping houses today. But then he started buying an apartment to kind of became a commercial guy. But he said, I don't like going in the commercial rooms today in the current economy, because it's all bad news. But for the house flipper, who's operating on these 6 to 12 month timelines and maybe even some of the developers who are operating on 12 to 24 month timelines, we're in a much better position to take advantage of what's predicted to be a pretty flat market over the next 3 to 5 years, because we have the ability, capability and capacity to buy properties at a price in00;34;16;16 - 00;34;39;18Unknownwhich we choose and understand where the market is and where the market isn't. To make sure we're exiting for a profit. Yeah. Loved it, I love that I was like, you know, I'm a geek. I'm a nerd. I like the data. I like the, economics of the market. You guys know I've got spreadsheets and I'm tracking absorption rates and supply and demand at all my counties.00;34;39;21 - 00;34;46;19UnknownSo, yeah, it's is really cool. Okay, let's now.00;34;46;21 - 00;35;10;06UnknownYou guys, a part of that, a part of that event? Well, I want to get your feedback on this part, too, because this is part of the inner game. Doctor Phil on. You are a master of the inner game. The mind and performance. You're clinically trained. You're you're you're brilliant at this. But you guys did something after the event with all the women and seven of them, which.00;35;10;08 - 00;35;33;12UnknownAnd my and I've done this thing that you guys got to do I do it actually often is one of my favorite things in the world to do. Can you describe that experience and how that might impact you both physically and mentally? You don't have to give away any of the secrets. Like, I don't even know what happened in that room, but you can you just talk about how that that event, that evolution, what it was and how it might have impacted the ladies of 7 or 8 that both mentally and physically?00;35;33;14 - 00;36;05;27UnknownAbsolutely. So I got a text prior to the event saying, hey, there's this opportunity that we are creating for the ladies. Let us know, you know, register as quickly as possible, if you're interested. And the opportunity is we went to this wellness business and we I'm sure there's a like a technical term for this whole process, but it's it's cycling between hot and cold and physically.00;36;06;01 - 00;36;33;19UnknownAnd so we all got onto our little swimming suits and shorts and whatnot. And there was about 20 some of us ladies, we all packed into a sauna for about 15 minutes. And this gal is leading us through some meditation. And she poured some water over these hot rocks, hot lava as my kids would say. And there's like some essential oil that's part of it.00;36;33;19 - 00;36;56;20UnknownSo you kind of have this a little bit of this scent, you know, kind of swarming around you as you're starting to sweat and, you know, we just we we shared a little bit about who we are, so we did that for 15 minutes, and then we all file out of the sauna room, and then we go jump into a cold plunge.00;36;56;23 - 00;37;28;01UnknownSo it's these, you know, we were outside. This part was outside. We went outside in Florida. There's these big what they look like horse troughs to me. You know, metal. But they're kept regulated cold and like super cold, like, like basically that there would be ice in them, but there wasn't because they're made to be cold. So we get in, there's these little, like, seats in there where you get in and you like, squat down so that your, you could squat down as much as you want either.00;37;28;01 - 00;37;44;22UnknownYou know, she was saying, well, you know, worst case scenario, maybe you just dip your just have your hand in, but the rest of your body's out. But all of us women, we're like, we're here, we're going to do this. So we we get in, we we go down and oh my gosh, I've literally never done a cold plunge before.00;37;44;24 - 00;38;08;00UnknownSo. And I don't like being cold. It really, you know, my limbs are cold a lot. And, like, I sleep with a heating blanket going when I first get into bed because I don't like the cold. I don't like getting into a cold bed. And so. So I get, I just I'm like, get down and I'm squatting and it's up to my shoulders and I'm like, I can't breathe.00;38;08;00 - 00;38;31;12UnknownBecause like, this is just such a shock. And, and so we were in there. You can as ladies, we can be there as long as we want or as short as we want up to like two minutes. So two minutes is what the target goal was. And some ladies kind of got out quicker. The majority of us stayed in there for the full two minutes until our leader said, you know, go ahead and get out.00;38;31;12 - 00;38;51;27UnknownSo we get out, you know, very carefully because like, I have a hard time walking and like, my muscles are so cold. Well, then we go back in the sauna again for another 15 minutes. And so we do this sauna ice baths cycle three times. And each time we're in the sauna, we have a little bit of sharing conversation.00;38;51;29 - 00;39;17;19UnknownAnd, what I realized after my first ice baths, once I got to the second one, I could see that some of the ladies were just really struggling with the idea of going back because we know what we know what it's like now, right? Like we just experience the ice that. So the second and third time now we're like, we know what to expect and anticipate, which can make things harder.00;39;17;21 - 00;39;46;28UnknownAnd so, so I got a little crazy, I know that one of my guests is encouragement. And so I got a little crazy. And during the second time, I started singing, amazing Grace on the top of my lungs, just to distract people and just distract myself. And I was I was horribly off because I was, like, shaking and like, I, you know, my boys, it was it was the worst rendition you've ever heard.00;39;47;01 - 00;40;10;20UnknownBut, but it was crazy. And so then the third time we did the sauna, we went around and shared what we were grateful for. And so then the third time that we got into the ice baths, I was very vocal and loud and was like, I'm so grateful for my body. I mean, and I got silly. I'm like, I'm grateful that we can do this, and there's no way our husbands would ever, like, be able to do it.00;40;10;20 - 00;40;35;09UnknownYeah. So it was a little bit of, you know, feminine empowerment there, but, yeah. And it was, it was, it was, it was great. I, I think there was a lot of positive aspects to the entire experience. You know, certainly one of it is that most of the ladies who've done this, haven't I think maybe only 1 or 2 has actually experienced this full like cycle.00;40;35;16 - 00;41;00;04UnknownSo it was very new to all of us. And so figuring out and being in the moment, kind of being freaked out and, and nervous, you know, working through that together as a group. I think was valuable. It gave us an opportunity to support each other and encourage each other. Like, you can do this like, you know, count down, like just, you know, really kind of cheering each other on, was really cool.00;41;00;04 - 00;41;32;14UnknownAnd then there is some very vulnerable and soft moments that happened in the sauna during the sharing portion of it. And I think the majority of us ladies walked away really realizing that we have a slightly different experience of real estate investing than men do in general. There is there's some nuances there and some of those nuances that we experience we're not alone in.00;41;32;16 - 00;41;35;19UnknownAnd sometimes it's easy to feel like.
