Speaker 1: This is a bonus episode of the Rebel Income podcast.
Speaker 1: And no, there's been a lot of changes in the
Speaker 1: mortgage market recently, and a few weeks ago, the Federal
Speaker 1: Reserve made a surprise half point rate cut, Jayley, can
Speaker 1: you tell us what this means, give us some background
Speaker 1: on what this means for the mortgage market.
Speaker 2: Absolutely.
Speaker 3: So, first of all, let me take a minute and
Speaker 3: explain to your listeners or dispel maybe some of the
Speaker 3: myths or misunderstandings that they get when we talk about
Speaker 3: the Fed Fund rate. So, first of all, everybody, this
Speaker 3: is the intra daily trading rate between banks. That's what
Speaker 3: the Fed Fund rate is based off of. Very different
Speaker 3: to our long term mortgage rates that are bond driven.
Speaker 3: The Treasury is the one most commonly measured for our
Speaker 3: longer term mortgage rates. So just to differentiate those two,
Speaker 3: and while there is a connection clearly between them, they
Speaker 3: are very different indices indexes. So you know, I was
Speaker 3: one of those believers that thought that when the Fed's
Speaker 3: met on September eighteenth, that we were going to hear
Speaker 3: them announce a quarter percentage point rate cut, when in
Speaker 3: fact they came out with the half As you mentioned,
Speaker 3: Dan I lost lunch based on that I had bet
Speaker 3: out there and I got to pay for lunch, So
Speaker 3: I didn't.
Speaker 2: Get that one right.
Speaker 3: But as a result what we found right afterwards, we
Speaker 3: did see some improvements to our long term rates, initially
Speaker 3: probably within the first few days to week right after
Speaker 3: that announcement, But from then to now, if you've been
Speaker 3: watching this or even seeing any of the headlines, you
Speaker 3: know that the reverse has taken place for our long
Speaker 3: term rates. Interest rates are actually up, and the reason
Speaker 3: for that is is that the inflationary metric or data
Speaker 3: that's been posted since the announcement, the economy is.
Speaker 2: Still too hot.
Speaker 3: So as a result, Wall Street has kind of taken
Speaker 3: it into their own hands and made the appropriate corrections
Speaker 3: for mortgage backed securities as it relates to our long
Speaker 3: term rates.
Speaker 1: On today's Bonus episode, chay Ley's going to explain more
Speaker 1: about what's going on in the mortgage market and what
Speaker 1: this means for us as rental property investors. We'll take
Speaker 1: a look at what the mortgage rates are today for
Speaker 1: a rental property and go over a payment example with
Speaker 1: today's rates, and we'll see how much your payment could
Speaker 1: be if rates come down a little bit more. Jay
Speaker 1: Lee's also going to talk about a creative way to
Speaker 1: finance your rental properties. Joining us on the show today
Speaker 1: is longtime friend of the podcast, chy Ley Ridge. If
Speaker 1: you've been listening for a while, you know she's been
Speaker 1: on the show a bunch of times, and she's been
Speaker 1: sponsoring the show for years. We'll take a really quick
Speaker 1: break to bank our sponsors today. We'll come right back
Speaker 1: and we'll talk to Chailey. I want to let you
Speaker 1: know about a really easy way to track your rental
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Speaker 1: You can learn more and sign up today at rentaltrial
Speaker 1: dot com. That's Rental Trial t r I, a l
Speaker 1: rentaltrial dot com Rental Income podcast. We're recording this on
Speaker 1: October seventeenth, twenty twenty four, so this is real time
Speaker 1: information for anyone listening. But I think if you're listening
Speaker 1: in the future, you'll still get something out of this.
Speaker 1: But Chayley, when the FED cuts the short term rates,
Speaker 1: can you explain how that impacts mortgage rates, because it's
Speaker 1: not it's not like a one for one example, but
Speaker 1: the rates kind of trend down as the FED cuts
Speaker 1: rates where they should trend down, right.
Speaker 2: They should in theory.
Speaker 3: But let me just start by answering that that there's
Speaker 3: so many different variables, almost unlimited amounts of variables that
Speaker 3: will play a role in determining with what the FED
Speaker 3: has done and what actually happens with that long term
Speaker 3: interest rate that could completely turn it on its backside.
Speaker 3: So let's just use the most recent example. The FED
Speaker 3: reduce the Fed Fund rate that in daily trading rate
Speaker 3: between banks by a half a point. So there is
Speaker 3: no metric that I can give that we would say, Okay,
Speaker 3: if the FED reduces by a quarter or a half
Speaker 3: or whatever the number it is, it's going to yield
Speaker 3: an eighth or a full percentage point or whatever the
Speaker 3: one to one would be. It doesn't work that way.
Speaker 3: There's too many other components at play, and those are
Speaker 3: going to be the things like the Jobs report, or
Speaker 3: the PCE, which is an inflationary metric that stands for
Speaker 3: personal consumption expenditures. That's the one that the Feds most
Speaker 3: closely watch. That's their favored inflationary metric CPI consumer Price Index,
Speaker 3: foreign affairs, all kinds of things are going to help
Speaker 3: shape and dictate how the comments. And sometimes they don't
Speaker 3: even have to reduce the Fed fund rate. They just
Speaker 3: speak in a certain language, and we'll see some volatility
Speaker 3: to our long term rates. So you've got to really
Speaker 3: understand that it's not going to be just one thing
Speaker 3: or two things. If I had to give somebody one
Speaker 3: way in which they could potentially try to forecast where
Speaker 3: interest rates we're going to go, that might be the
Speaker 3: most reliable, and certainly not full proof. It would be
Speaker 3: the treasury. The ten year Treasury bond is the one
Speaker 3: that if you're tracking that and you're watching the ticker
Speaker 3: tape throughout the day or weeks, that one tends to
Speaker 3: measure or be in line with how you're going to
Speaker 3: watch the long term interest rates move up and down.
Speaker 1: Okay, so the Fed is going to meet two more
Speaker 1: times this year. They have a meeting November six, and
Speaker 1: then another one December eighteenth, And what's the thinking right now?
Speaker 1: What's the kind of the word on the street on
Speaker 1: what they're going to do with those meetings.
Speaker 3: So I'm going to answer that directly, and then I'm
Speaker 3: going to give some context. You know, I think that
Speaker 3: they'll probably reduce another quarter point in November. It'll be
Speaker 3: announced on you. Like you said, they meet on the
Speaker 3: sixth and seventh. On the seventh is when we will
Speaker 3: hear mister Powell state whether or not we're going to
Speaker 3: see another rate cut at that meeting. But the things
Speaker 3: that we want to be looking for for where I
Speaker 3: may or may not be changing that statement are going
Speaker 3: to be. On the thirty first of October, we're going
Speaker 3: to get that PCE that I just mentioned, so they're
Speaker 3: going to be waiting on that.
Speaker 2: So depending on what that reading says.
Speaker 3: And then on the first of November or the first
Speaker 3: Friday of every month is when we get our jobs report.
Speaker 3: Both of those two pieces of information are going to
Speaker 3: shape what really happens when Jerome Powell makes that announcement
Speaker 3: on the seventh.
Speaker 1: The rates have dropped quite a bit from where they
Speaker 1: were at the peak. Do you remember where what the
Speaker 1: rates were at the peak.
Speaker 3: Sure, I would say, just make sure that it's it's
Speaker 3: prefaced by saying that it's very specific to the characteristics
Speaker 3: of the transaction that you're quoting. Okay, the difference in
Speaker 3: interest rate that someone might say at the peak for
Speaker 3: an owner occupied versus what we're talking about most of
Speaker 3: the time between us is the non owner occupied side.
Speaker 3: All of those variables count. But I would say the
Speaker 3: highest that I probably sought over the last couple of
Speaker 3: years was in the high sevens, maybe in the low eights,
Speaker 3: credit score loan to value, loan size driven, but I'd
Speaker 3: put it in that range, high sevens, low low eights.
Speaker 1: Okay, So in the rates have dropped quite a bit
Speaker 1: from that, and we'll get into where the rates are
Speaker 1: here in a few minutes. But the rates went up
Speaker 1: pretty quickly. Do you see them coming down pretty quickly too.
Speaker 3: Unless something devastating happens within the economy. No, And I
Speaker 3: would quickly just mention that, you know, a lot of
Speaker 3: times we want it both ways. We want the economy
Speaker 3: to be doing great and we want interest rates to
Speaker 3: be low. And I think a lot of people just
Speaker 3: miss the detail that that they're not mutually exclusive it's really.
Speaker 2: One of the other.
Speaker 3: The the economy is doing, the lower the interest rates
Speaker 3: are going to be, and vice versa. That said, I
Speaker 3: would also say that historically speaking, that interest rates do
Speaker 3: go up much faster than they end up coming down,
Speaker 3: so I would expect a slower burn on the way down.
Speaker 3: I do think that we are headed in that direction.
Speaker 3: I think trajectory is south for interest rates, but I
Speaker 3: think it's going to be or take a lot more
Speaker 3: time for them to level out to maybe the baseline
Speaker 3: that we hope back down in the fives ish right
Speaker 3: for our non honor occupiedes. If I'm going to guess,
Speaker 3: and I think that we're probably a good year year
Speaker 3: and a half in timeline from now to then, so.
Speaker 1: Real estate moves and cycles, and if you were to
Speaker 1: take a one thousand foot view of the market, would
Speaker 1: you say that we're at the beginning of a cycle
Speaker 1: where the rates are going to be trending down and
Speaker 1: that may translate to prices going up as the rates
Speaker 1: come down.
Speaker 3: You know, I am of the opinion that a we
Speaker 3: are at the precipice of a new cycle. I think
Speaker 3: it's actually already begun. I'd say in the last couple
Speaker 3: of months, but right there, kind of at the beginning.
Speaker 3: And I think that both rates and and I'm not
Speaker 3: going to blanket statement this for the entire nation. Okay,
Speaker 3: there's pockets, there's markets, and it's always going to be
Speaker 3: very specific to the market. But I do think that
Speaker 3: a buyer's market is on the horizon. I think that
Speaker 3: home values are going to start coming down in certain markets.
Speaker 3: The appreciation rate in some places have been has been
Speaker 3: completely out of control, very unsustainable. So even though many
Speaker 3: would assume that as interest rates come down, then they
Speaker 3: think that the home values are going to go back up,
Speaker 3: I'm not sure I agree with that. In a lot
Speaker 3: of markets, I think that we're going to see buyers
Speaker 3: having more opportunity to negotiate, whether it be price point
Speaker 3: and or seller concessions, closing costs, along with some reduction and.
Speaker 1: Interest rate well, I mean that could be really good
Speaker 1: for investors. I mean, if the rates are coming down
Speaker 1: and if prices do come down a bit, that could
Speaker 1: be really good for us.
Speaker 2: I agree.
Speaker 1: Yeah.
Speaker 3: Now, obviously the pushback there is people are going to say, well,
Speaker 3: what about you know, lack of inventory, et cetera. But
Speaker 3: remember it's market specific but in some of those markets,
Speaker 3: do you guys know which ones they are? The appreciation
Speaker 3: values are just they cannot continue in the same theme
Speaker 3: that we've been seeing. It's just not possible. They will
Speaker 3: start coming back down.
Speaker 1: Well, let's talk about rates today. So what can you
Speaker 1: give us an example of what an interest rate is
Speaker 1: right now?
Speaker 2: Sure?
Speaker 3: And I think a lot of people will be pleasantly
Speaker 3: surprised by this news. So let's just set the stage.
Speaker 3: We'll talk about a purchase of an investment property. We're
Speaker 3: going to call it a single family residence, will put
Speaker 3: twenty five percent down. Let's say that the loan amounts
Speaker 3: about one hundred thousand dollars, good credit, et cetera. You're
Speaker 3: probably looking at about six point six two five is
Speaker 3: an interest rate, and you're probably looking at about two
Speaker 3: points for that interest rate today.
Speaker 1: Okay, well that's pretty good. That's really good. Now, what
Speaker 1: if rates were to drop, say a half point, like,
Speaker 1: is that going to make How much of a difference
Speaker 1: in the payment does that make?
Speaker 3: Yeah? I'm glad you asked that question, because I feel
Speaker 3: like this is the piece that I'm I'm constantly trying
Speaker 3: to put out there for investors. So that they're doing
Speaker 3: that math because without actually doing the math, there's a
Speaker 3: psychology about the rate itself, and people I think, play
Speaker 3: themselves out of very substantial investments just because they hear
Speaker 3: a number. So to put it into perspective, let's just
Speaker 3: keep using our example. At about one hundred thousand dollars,
Speaker 3: the principal and interest payment at six point six two
Speaker 3: five is four hundred no excuse me, six hundred and
Speaker 3: forty eight dollars a month for each eighth of a
Speaker 3: percentage point below that, Let's go to six and a
Speaker 3: half percent. The six hundred and forty eight goes to
Speaker 3: six hundred and thirty nine. So what is that That's
Speaker 3: going to be about a nine dollars a month difference,
Speaker 3: right for eighth of a percentage point. So if we
Speaker 3: take it down half a point in payment at six
Speaker 3: point one two five, So again six point six two
Speaker 3: five down to six point one two five is a
Speaker 3: half a point reduction in rate. The payment is six
Speaker 3: hundred and fifteen dollars. So you know, the mental math
Speaker 3: there is what thirty three bucks?
Speaker 2: Did I get that? Right? Yeah?
Speaker 3: It's it's not as substantial as a lot of people
Speaker 3: mentally expect the number to be, especially on the smaller
Speaker 3: loan sizes.
Speaker 1: Okay, so there's not a big incentive I guess to
Speaker 1: wait for rates to come down, and it's not like
Speaker 1: that's not going to have a significant impact on your
Speaker 1: cash flow. I guess just getting a better deal would
Speaker 1: really be the driver. If you can buy a property,
Speaker 1: get negotiate a little harder and get a better deal,
Speaker 1: that's going to benefit you more.
Speaker 3: Sure, Sure, and especially if you can get the seller
Speaker 3: to contribute towards the closing costs, right, a few percentage points,
Speaker 3: and maybe you can use those to get that rate
Speaker 3: down if that were the case. But you know, I've
Speaker 3: got I've got countermeasures to every one of those discussions,
Speaker 3: because I'm talking about rates all day long. It's it's
Speaker 3: the buzzword, right, everybody wants to know about interest rates.
Speaker 3: And what would I would say about that is a
Speaker 3: few things. One, if you're holding out for the lower
Speaker 3: interest rate, and in our case, we're talking about thirty
Speaker 3: bucks a month or whatever we said it was, the
Speaker 3: first thing I would say is that if the deal
Speaker 3: is a make or breakover thirty bucks, there's something wrong
Speaker 3: with the deal. And I would continue to research and
Speaker 3: look for potentially another investment. The other thing is is
Speaker 3: that if you're waiting, you may play yourself out of
Speaker 3: the deal altogether. And then remember when we talk about
Speaker 3: layering in the advantage of tax the tax benefit, And
Speaker 3: while this is secondary, I fully recognize, be sure to
Speaker 3: know that you're going to be less in the deduction
Speaker 3: of interest on the lower interest rate too, So there
Speaker 3: is checks and balances at work here, and for thirty bucks,
Speaker 3: I don't know that in my mind the float of
Speaker 3: the interest rate or the holdout for getting into real
Speaker 3: estate too, to look at it as an investment justifies
Speaker 3: the potential reward.
Speaker 2: Does that make sense? Maybe it's saying that another way.
Speaker 3: If you know it's the difference between half a point
Speaker 3: and thirty bucks on whether or not I'm going to
Speaker 3: make a decision to invest in this particular property in
Speaker 3: this particular market, I would argue that there's something else
Speaker 3: there that needs to be considered that the investor isn't seeing.
Speaker 1: Yeah, I mean, you shouldn't walk away from a deal
Speaker 1: over thirty bucks, And that's really kind of short sighted.
Speaker 1: I think that you're going to get a thirty dollars
Speaker 1: rent increase at some point and that deal is going
Speaker 1: to be right there, So I think you're a spot
Speaker 1: on with that. Well, one thing that I really like
Speaker 1: about having you on the show and sponsoring the podcast
Speaker 1: for so long is that you've got lots of creative
Speaker 1: strategies and you're not just a lender that's just processing applications,
Speaker 1: like you really help people kind of get a plan
Speaker 1: together and help them invest and help them build a portfolio.
Speaker 1: And I wanted to see if you could give us,
Speaker 1: like maybe one of the creative strategies that you've used
Speaker 1: recently with one of your clients, just to maybe give
Speaker 1: us an idea of some things that we can do differently.
Speaker 3: Well, first of all, thank you, Dan, thank you for
Speaker 3: saying that. I really appreciate it. We work very hard
Speaker 3: to be as holistic a lender relationship as we can,
Speaker 3: so that means a lot coming from you. Yeah, I've
Speaker 3: got something that I think would be noteworthy. We have
Speaker 3: a loan product, and I think we've talked about it before.
Speaker 3: It's a first lean helock and check this out.
Speaker 2: This is my.
Speaker 3: Absolute favorite loan product, especially for real estate investors where
Speaker 3: and it's going to take a minute for some people
Speaker 3: to wrap their heads around Okay, it's a first lean helock.
Speaker 3: Like I said, it's called the all in one. And
Speaker 3: if you've ever heard of the term velocity banking or
Speaker 3: infinity banking, that might resonate and connect a few dots here,
Speaker 3: but it is a way that you can utilize an
Speaker 3: open ended, revolving line of credit at your discretion so
Speaker 3: that you've become your own bank theoretically, whereby I have
Speaker 3: clients that have let's say, access to large sums of
Speaker 3: depository dollars and cents every month before it has to
Speaker 3: go back out the door. Okay, I'll give you an
Speaker 3: example so I can try and paint a picture here.
Speaker 3: Let's say that you have one hundred thousand dollars in
Speaker 3: cash that sits idle for or you can allow it
Speaker 3: to sit idle in an account for the majority of
Speaker 3: a thirty day billing cycle let's call it twenty nine days.
Speaker 3: And let's say that you have an outstanding balance on
Speaker 3: this heelock of one hundred thousand dollars. Just to keep
Speaker 3: the mouth simple, if you were to take your one
Speaker 3: hundred thousand in cash that's sitting idle, deposit it into
Speaker 3: this all in one loan vessel, it's going to drive
Speaker 3: that one hundred thousand dollars balance down dollar for dollar.
Speaker 3: So for twenty nine days of that thirty day billing cycle,
Speaker 3: you're going to pay zero in interest. No interest will
Speaker 3: crew because on any open ended revolving account this is
Speaker 3: think about a credit card. Okay, same principle here, you
Speaker 3: will only pay interest when there is a balance. So
Speaker 3: if you're an individual that has access to good depository
Speaker 3: income and then maybe residual income left over at the
Speaker 3: end of the month, the all in one product can
Speaker 3: greatly and I mean by hundreds of thousands, greatly diminish
Speaker 3: the amount of interest that you would pay in comparison
Speaker 3: to say a traditional three year fixed mortgage. It's it's
Speaker 3: quite a tool that most investors, I believe should have
Speaker 3: in their tool belt.
Speaker 1: So just to walk through an example on that, like
Speaker 1: saying someone has twenty thirty forty thousand dollars a month
Speaker 1: coming in in rents every month and your mortgage payment
Speaker 1: ded They say the rents come in on the first.
Speaker 1: You've got forty thousand dollars coming in on the first,
Speaker 1: and you're going to pay your mortgage on the fifteenth.
Speaker 1: You could save money by having that money deposited to
Speaker 1: your all in one account and then paying the mortgage
Speaker 1: out of that account.
Speaker 3: One hundred percent. And the nice thing, the reason it's
Speaker 3: called all in one is because it doubles as both
Speaker 3: this line of credit this he law comaqu a line
Speaker 3: of credit and checking in savings. So let's say you
Speaker 3: bank with BABA. Okay, you're going to replace your BABA
Speaker 3: checking in savings with this new checking in savings, which
Speaker 3: it's an FDIC insured account, So exactly the same automation,
Speaker 3: exactly the same technology here that you would have over there,
Speaker 3: and you're just going to nothing changes, nothing changes about
Speaker 3: your spending habits or the moneys you've got coming in
Speaker 3: are going out. But you're going to utilize this these
Speaker 3: deposits in such a meaningful way and letting them sit
Speaker 3: and ride so that the interest accrule is is so
Speaker 3: greatly diminished on a day to day basis that when
Speaker 3: you look at the math, the interest can a crew.
Speaker 3: Because let me give you an example. Let's take because
Speaker 3: a lot of times I feel like dan people, this
Speaker 3: is this concept is very new to most of.
Speaker 2: The people in this country.
Speaker 3: Okay, it's actually pretty it's pretty popular and widely used
Speaker 3: out there and the rest of the planet.
Speaker 2: In the US, it's not so much.
Speaker 3: It's not as mainstream obviously, So we are kind of
Speaker 3: preconditioned to understand that amortized mortgage. Our thirty year fixed
Speaker 3: are a fifteen year fixed. So I'm going to give
Speaker 3: you an example between a thirty year and a fifteen year.
Speaker 3: So let's say that both of these loans start at
Speaker 3: four hundred thousand dollars is the balance, and the thirty
Speaker 3: year fixed mortgage let's say locked at four percent interest rate,
Speaker 3: the fifteen year locked at seven percent. People that don't
Speaker 3: understand amortization, and they use that psychology about interest rate,
Speaker 3: they're automatically, without exception, they're going to run to that
Speaker 3: four percent thirty or fixed. They're not even going to
Speaker 3: think about it. I want a four percent rate. Well,
Speaker 3: when in fact, because of speed and that velocity of money,
Speaker 3: if you were to run the amortization, you will pay
Speaker 3: forty thousand dollars more in interest using my example on
Speaker 3: a four percent thirty year than a seven percent fifteen year.
Speaker 3: So and the reason for that is speed. Now I
Speaker 3: know I'm not exactly comparing apples to apples. We're talking
Speaker 3: about two closed ended amortized mortgages versus what I'm describing,
Speaker 3: or what we're talking about here as an open end
Speaker 3: revolving helock. Totally different animals. But my point is speed.
Speaker 3: We've got three hundred and sixty months on a thirty
Speaker 3: year fixed versus one hundred and eighty months on a
Speaker 3: fifteen year fix.
Speaker 2: You can see that the.
Speaker 3: Time in which you are paying interest is what's at
Speaker 3: play here. So now come in, knock on the door
Speaker 3: the all in one. The amount of time in which
Speaker 3: that interest is going to be allowed to accrue is
Speaker 3: the point that I'm trying to make. So because you
Speaker 3: can utilize this and become your own bank, as I've said,
Speaker 3: driving those principal balances down and really reducing the amount
Speaker 3: of interest that you're going to pay. The other thing
Speaker 3: I would say about this, guys, is that think about
Speaker 3: the first ten years of any thirty year fixed mortgage.
Speaker 3: How much of your principal and interest payment is going
Speaker 3: to principle? The very, yeah, very very small amount that
Speaker 3: was rhetorical. People know that the first ten years, just
Speaker 3: a fraction of a percent is going to the principle.
Speaker 3: And why is that, Well, it's because you know the
Speaker 3: GSS government sponsored enterprises, the Fannies and Freddy's. They want
Speaker 3: their interest right. They're going to make their interest and
Speaker 3: they know that historically speaking, you will be refinancing that
Speaker 3: mortgage typically on an investment property five years, seven years
Speaker 3: on a primary residence. So they're obviously they're keeping our
Speaker 3: payment low with the amortization. That's wonderful that we have
Speaker 3: access to that, but we're going to front load the
Speaker 3: interest so that they make sure that they get as
Speaker 3: much of it as they can before you go and
Speaker 3: either sell the property or refinance it for whatever reason,
Speaker 3: cash out, REFI, reduction in rates, et cetera.
Speaker 1: It's a very interesting strategy, and I'm sure someone hearing
Speaker 1: this for the first time has questions or maybe wants
Speaker 1: to walk through a real life example for them. What
Speaker 1: would be the next step If someone is interested in
Speaker 1: learning more about the all in.
Speaker 3: One, well, certainly get in touch with us. And there's
Speaker 3: this really really cool tool that I do a lot
Speaker 3: throughout the day.
Speaker 2: One on one.
Speaker 3: We share screen on a zoom call or a team's call.
Speaker 3: There's an online interactive simulator. And the really thing is
Speaker 3: the mouth will not lie. If you're a good candidate,
Speaker 3: for this loan. It'll be very clear at the end
Speaker 3: comparing what you have now or what you might be
Speaker 3: getting in a thirty year fix whichever to the.
Speaker 2: All in one.
Speaker 3: It'll be extremely obvious what your interest savings is going
Speaker 3: to be, whether or not this is the right move
Speaker 3: for you on a purchase transaction or refinanced transaction. The
Speaker 3: simulator is pretty slick.
Speaker 1: If you want to talk more with jay Lee to
Speaker 1: see if the all in one makes sense for you,
Speaker 1: you can get in touch with her at eight five
Speaker 1: five seventy four Ridge, or just go to ridgelendinggroup dot com.
Speaker 1: Jay Lee, thank you so much for coming on the podcast.
Speaker 1: I'll be back with a new episode on Tuesday. My
Speaker 1: name is Dan Lane and this has been a bonus
Speaker 1: episode of the Rental Income podcast.