What's your real estate plan?

So I have two plans.

We'll give you the big plan.

So right now I'm setting up my portfolio to repeat what I did in 2006.

What did I do?

What I did in 2006 is I had eight single family homes.

And single family home got very expensive.

It became very unaffordable.

And what I did at that point is I sold them at the peak of the market. and I 1031ed all of that money into class B and class C multifamily.

So I went from eight to 80 units.

I believe I'm going to get that same exact opportunity again, probably late 25, but and maybe 2026.

So I'm going to take, call it 30, call it 40 single family homes and 1031,

all of that equity into multifamily, which I think is going to blow up. I think there's a lot

of syndications in B and C quality stuff that was badly done. And I'm going to pick those up

for pennies on the dollar. And I say this as a guy that's done it before.

I bought directly from banks.

I bought, you know, from small community banks.

And, you know, I think single family homes continue to ratchet up in price.

And I think when the market eventually breaks, because right now the only stuff

trading like Ken McElroy just bought a building in Henderson.

Oh, did it? Class A. I didn't know that. I call it 90 days ago, maybe 120. Okay. So he just bought it Henderson. And only Class A is trading. Class B and C is frozen because we have just a

gap between what the sellers want and what the buyers will pay. And that will eventually break.

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