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Your Amazing Itty Bitty Family Leadership Book: 15 Simple Tips Successful Companies Use That Parents Can Implement At Home: https://amzn.to/2OTMDT1
TRUE LEGACY WEALTH: Creating Generational Wealth Through Real Estate Investing: https://amzn.to/2oOzMqA
Parent Pump Radio: http://parentpumpradio.com/
Jacqueline’s business website: https://www.integrativeminds.com/
Her email is email@example.com
Jacqueline’s LinkedIn: https://www.linkedin.com/in/jacquelinetdhuynh/
South Vietnam (Republic of Vietnam): https://en.wikipedia.org/wiki/South_Vietnam
Jacqueline chat about what it was like for her as her family left Vietnam.
Currently, in Vietnam, April 30th is known as Reunification Day. However, for many people from the South, from the Republic of Vietnam, April 30th and the entire month of April is known as Black April.
You can’t say that you like something or not until you’ve tried it one time.
Always check with zoning to see if you can potentially do the same on any of your development deals.
Robert Kiyosaki – Rich Dad Poor Dad: https://amzn.to/2NdWhh7
The website Jacqueline referred to is https://www.littlebighomes.com/
Email firstname.lastname@example.org to get a list of her properties.
You need to look at the fees and find out how much your funds operators are charging you.
Jacqueline mentioned Mike Wolf’s Mastery: https://mikewolfmastery.com/
The S&P/Case–Shiller U.S. National Home Price Index is a composite of single-family home price indices for the nine U.S. Census divisions. It is calculated monthly, using a three-month moving average.
Rental Comps website: https://www.rentometer.com/
[00:00:01] You’re going to lose your money, you’re going to go up and you’re gonna go down. But knowledge and human and connection, human connection, you will never, ever lose.
[00:00:12] Welcome to the show. You are listening to the real estate lab podcast. In this lab, we decode the stories, secrets, and skills of the most brilliant minds in real estate investing then turn, their wisdom into practical advice and knowledge that we can use to boost our income. Now let’s turn it over to our host Vee.
Vee: [00:00:31] Hey, thank you so much for tuning into another episode of the Real Estate Lab podcast. Our guest today is someone really special. Her experience comes really near and dear to my heart.
Vee: [00:00:41] She arrived in the United States in nineteen seventy-five as a refugee from Vietnam at just eight years old with her parents and four younger sisters. They only have the clothes on their back freedom. And they hope for the American dreams and a commitment to succeed, to honor her family who left behind and who perished. Today she is a public speaker, author, and consultant on the topic of family legacy and building generational wealth. Her book, titled Your Amazing Itty Bitty Family Leadership, is an Amazon number one’s bestseller. Now her second book published in March of Twenty Nineteen. Earlier this year, called True Legacy Wealth Creating Generational Wealth through Real Estate Investing is also available on Amazon. She’s also a host of a weekly podcast called Parents Pump Radio. It’s a podcast center around family leadership and financial literacy. You can check it out at www.ParentPumpRadio.com. Our featured guest today is Jacqueline TD Huynh. In my conversation with Jacqueline, I found out a lot more about her stories and things that her family did during the time that they first came to the U.S. It’s really fascinating to me because my parents also had similar experience but did not have the opportunity to come to the US the way that her parents did. I really appreciate the things that I have now. And then also, we turn the conversation to her business. She is currently running a turnkey operation. So what turnkey real estate is that? Her team will go out with their system and process in place to find properties, rehab the properties, put it under management so that when you are buying this property from companies like hers and other turnkey operators, you’re essentially buying a business in a box. You’re buying something that’s running from day one, cash flowing from day one. I think you will learn a lot from this episode.
Vee: [00:02:41] And real quick, I want to share with you two ways to get a hold of Jacqueline. You should check out her weekly podcast at W W W Dot Parent Pump radio dot com or go check out her business Web site at W W W dot integrative mines dot com. You can get a hold of her by sending an email to info at integrative mines dot com.
Vee: [00:03:03] All right. Let’s turn it over to my conversation with Jacqueline TD Huynh!
Vee: [00:03:13] Hey welcomes in an episode of the real estate lab podcast. And today we have a featured guest Her name is Jacqueline TD Huynh
Vee: [00:03:21] She is an awesome person. Then it gets you known in the last few months and her family has an inspiring story. It’s an honor to have you here with us.
Jacqueline TD Huynh: [00:03:34] Jacqueline, thank you so much for having me.
Vee: [00:03:37] Awesome. So the reason why I wanted to bring you onto the show is because when I was researching to find guests to bring onto the show, I came over a post that you put online and it gave you hope for Experian’s of how you came over from South Vietnam in 75. And you had all the struggles began as a as a refugee. And that’s something that I resonate with because my family also some from South Vietnam and more or less were from the same town, just different names, basically, because they had changed since. So can you tell us you what was your experience like from the time you were 8 years old in April 1975 and you came over on that C-5 plane?
Jacqueline TD Huynh: [00:04:27] Sure. Sure. Being so young. My my father, first of all, was in the the South Vietnamese army. He used to be an espionage for the American and working with the the South Vietnamese government. And then we as children were kind of what you said. You know, they didn’t want to talk about it. My dad did his military thing and I was home with my mom or my grandmother. And then one day it was April 20th. No, April 25th, actually, five days before the war ended, I was at my Preece, my school, and my dad came by and picked me up and picked my next. There’s four younger sisters. I was so there. Some of them were so at home. And he said, you know, we’re gonna go home and celebrate your sister’s birthday and then we’re gonna go somewhere. And I remember being at my sister’s birthday party and there were so many relatives there. Unusual for a weekday. And I could see that there were people crying. And I do understand why they were crying. My grandmother and I could hear my grandmother argue with my father saying, leave her, you know, leave her with me, leave her with me. And my dad’s like, no, no, everybody needs to go to others, the family. And I’m here asking my dad. He says nothing, nothing, because I could tell they were so upset. And the next thing I knew, we were all loaded up in my dad’s jeep driving down the tarmac.
Jacqueline TD Huynh: [00:05:57] And right in front of us was a gigantic I’ve I’d never been in a plane, never seen a plane that close. It was a C-5 cargo plane. They there were no seats and there were just thousands of women and children lined up to get inside the plane. At the time, because my dad was in the service and of the place that that he was in in the service, he was allowed to evacuate his wife and children for his protection so that he could stay and continue fighting. And if he were captured, then they couldn’t use us as ammunition, I guess, to torture him, you know, to torture us, to get information from him. So we were lucky in the fact that we didn’t have to escape, after which a lot of my relatives had to. And actually some of my cousins perished trying to escape after the war ended. So we were flown to Guam thinking that we were going to be back. We were just going for a few days trip, according to my dad, and that we were gonna be back. And when we arrived, there were thousands of erected tents that the American soldiers there had built for us temporarily. There was a military base on Guam. So when we arrived, we all just it was like summer camp as I remember.
Jacqueline TD Huynh: [00:07:23] And for us, it was summer camp because all the kids were running around playing, got in line for food, not really understanding what was going on. And I’m sure you remember this day, right, Vee the day that April 30th came around. I just heard women screaming, like the cries of death, like they’re being stabbed to death because over the loudspeaker we got word that we lost that South Vietnam was was no more basically. And we didn’t quite understand as children and nobody was explained to us what it meant. But you can feel the energy of the women and the chaos of that camp, you know, the soldiers, American soldiers running around and no one really knowing what to do. Now, because no one, I think, plan for that, and my father passed away a month ago, and and I was reading some of his journal and he wrote about that the week after and the day of trying to for him to evacuate as many people and help as many people to escape as possible. And I had no idea what you guys had been going through. And I’m sure you your story is pretty amazing in itself, but we arrive, so. Yeah, right. So I’d love to also hear your story someday.
Vee: [00:08:44] Yeah. I mean my so for my what my parents have told me because my sister was only one at the time and they were trying so desperately because my dad was in the service but he did not fight or anything.
Vee: [00:09:02] He was an interpreter for the four of U.S. And so he was he would hang out with high ranking officers. So we knew this was coming, but there was not a way for for him to escape like your dad did. You know, it was I think it was only available for high ranking officer or intelligence few, which was maybe what your dad did. And he tried to fled the country three times and captured all three times and send to concentration camp. Patient camp. Yeah. So re-education camp then they after all that, they said, OK, finally we’re just going to give up and well, we’ll have another child. And then there was I came out about, you know, 12 years after after the war ended and we waited a very, very long time. And during this time, my two or three of my uncles actually fled. They were one of the first boat peoples that came here in that wave after seventy five. And, you know, they they were lucky enough to survive and came to the U.S. in a way. It was it was legal for them to come here because of the war. It was different kind of refugee than now. Yeah. So they then sponsor us and it took the whole process, took about 20 years or more.
Jacqueline TD Huynh: [00:10:28] Yeah, that’s that’s some of our family member had to go through that way too. And it took a very long time. And I know it was really hard for you and your family, probably those between seventy five and definitely ninety five, because when we had we had relatives came over they they told us what they had to go through with, you know, people dying of starvation because literally the communist was withholding food and medical. My grandmother died of diarrhea. Something simple.
Vee: [00:10:59] Yeah. That definitely was what was happening as well. And I did not hear any of this until I actually came to the U.S. because in Vietnam and it could be wrong. But this was just my experience.
Vee: [00:11:13] If you said something bad about anything with the government, anyone can just report, you know, the police would just come and get you and, you know, have a chat with you. And you know what happened in that room? No, no one knows. But I mean, we could imagine. Yeah, just exactly. Yeah. You go in as a fine person. You come out with some bruises, then you know what’s going on.
Jacqueline TD Huynh: [00:11:35] Yeah. Yeah.
Jacqueline TD Huynh: [00:11:36] They’re very oppressive of people who talk badly against them. Not only those people, but people that had any kind of intelligence that could cause problem. And you know, they call it re-education camp. But we both know that it was a form of concentration camp, just like it was during World War Two or any other form of camp that has been in oppressive countries. My grandfather actually at the time, he was already in his 60s, he was retired a bit at one time. He was a chief of police in his 30s. And they put him in the concentration camp also. And they tortured him so badly that he basically could even walk. My cousin said he would go and visit him. And my grandfather would be crawling out because he couldn’t even stand up. He was so brutally beaten, humiliated. Some of the stories I’ve heard from the concentration camp, you know, having prisoners eat their own feces and just humiliating. You know, just stuff that we no one even realize that it’s happening in this world even today. Right now we hear about Syria, right?
Vee: [00:12:51] Right. Yeah. There’s all this stuff, you know. But that again, that’s the history of our families. You know, it’s a history of millions of people who fled Vietnam during that time. And that’s that’s our past chapter now. And then a new chapter opened up for you when you move from Guam to St. Louis.
Jacqueline TD Huynh: [00:13:11] Was it? Yeah. Well, we ended up being at Eglin Eglin Air Force Base in Florida because back then you just can’t move in the United States. Someone has to sponsor you.
Jacqueline TD Huynh: [00:13:23] Someone had to help you out. Especially considering none of us knew English except my father. So they they moved us out of Guam because there were so many refugees that were arriving from Vietnam. So as soon as we were reunited with my father and they shipped us over to Guam and then we got sponsored out by a Catholic church and we moved to Saint Louis for one school year in the harsh winter, drove us out.
Jacqueline TD Huynh: [00:13:53] We were getting sick so much that the doctor literally said it to my parents. If you don’t move your children to warmer climates, they’re going to die because they can’t handle it.
Jacqueline TD Huynh: [00:14:03] So that’s when we moved to Orange County after we moved to Riverside first, and then my dad got a job in Orange County and then we settled in Orange County and that was probably about nineteen seventy nine or so right around then. When we finally moved over to Orange County and my family, I have lived there all our lives, pretty much.
Vee: [00:14:25] What was it like when you moved O.C? I understand the Vietnamese community there is one of the strongest in the war outside of Vietnam right now. And one of the most populated Vietnamese area. What was it like in 79?
Jacqueline TD Huynh: [00:14:39] It was so different now because back then it was called Orange County, because there were so many orange groves. And I mean, there were strawberry fields and orange groves. That’s all it was. It was more like a farming community. And when we arrived, there were very few Asian. I just remember being in school and there was like even once I got to junior high, there was a few Japanese people and a couple of Chinese people, but there was not maybe one other Vietnamese people besides me. So it was very difficult because that’s so age where you want to fit in, where you want to be like everybody else. But you know, you’re not. You don’t look like you’re white. Eat the same food. Because back then, you know, there was we would every one about once a month. If we had time twice a month, we would trek to Chinatown and L.A. just to get some of our food. Otherwise, it was just the American grocery store. And we had such a large family that we can’t go out to eat. Everything was eaten at home. My mom home cooked everything.
Jacqueline TD Huynh: [00:15:46] And so I always felt odd. The odd man out like that black swan. The nice thing for me, I didn’t experience a lot of bullying. I know a lot of other Vietnamese kids back then did experience in other states. Luckily, the worse I got was like, you know, why do you look so funny? Why is your eyes so small and squinty? It was more a curiosity of the kids and understand as opposed to, you know, being bullied and things like that. And so I was lucky in that sense, but it was still really difficult because, you know, they call us the third culture kids, because by day we were living the American lifestyle and culture. Right. We’re at school by night. We’re in at home living in a totally Vietnamese culture, speaking Vietnamese, doing traditional vitamins activities. And on Sunday, we would go to the Buddhist temples so that we could take the Vietnamese classes so we could keep our language up.
Jacqueline TD Huynh: [00:16:50] So it was confusing, like in my American. Am I Vietnamese? I want to be American because that’s when all the cool kids are. Why do I have to be Vietnamese? Because there is not a lot of Vietnamese around here. So it was that big adjustment of trying to find who I am and who I want to be. Was it like you that for you, too?
Vee: [00:17:13] It was different for me because I came over later. So and here in Colorado, my experience was easy for at least it was for me because I did not hang out with Vietnamese friends. At least my first semester, I did not hang out with anyone but white American kids and maybe a few African-American in school because I felt like I could learn more English from them by hanging out with them. And so I remember I was more or less a Gothic kid at that time, just hanging out with rockers, you know, dressing all blacks. So I fit in real well at the time. And then when I switch over to you know just to hang out more with the Vietnamese crowd, then I felt like it was different because now I have to adjust constantly.
Vee: [00:18:05] Speaking English Vietnamese, just going back and forth some time is just crazy.
Jacqueline TD Huynh: [00:18:10] Yeah, yeah, yeah. You should check.
Jacqueline TD Huynh: [00:18:12] out third culture kid. There’s actually it’s on Wikipedia and it tells about what we go through and how our mindset is very different as opposed to, you know, someone living here or something like that that didn’t have that to culture.
Vee: [00:18:28] Yeah, I’m a more I think I’m more like 4th culture because I have Vietnamese friends and then I also had Chinese friends in school. So at lunch sometime I would be speaking Chinese in one sentence and switch over to Vietnamese and switch over to English.
Vee: [00:18:45] And then after a while I’m not sure who I’m talking to.
[00:18:51] Yeah. Yeah.
Jacqueline TD Huynh: [00:18:51] It’s a and I think because we look I think if we were like say French or something. Right. At least you, if you didn’t open your mouth you would look like the other kids. But we you didn’t even have to open your mouth. And you know people knew you are different. We were different.
Vee: [00:19:08] So what were you like in high school? What was you read active in in school or…?
Jacqueline TD Huynh: [00:19:14] I was a a nerd. I wore glasses. I had braces. I was that nerdy Asian that did, you know, I was good at school. And then my sophomore year. My friends were all in theater and they said, come on. Just come audition. Just come after school with us. They’re auditioning for a musical. It was musical theater. And I’m like, okay, I’ll go with you. It’s something to do after school. And somehow they got me to audition for what was the play?
Jacqueline TD Huynh: [00:19:44] It was “Annie Get Your Gun.” And I was so nervous that because they had me sing a song, I’d never had a singing lesson. But I ended up getting onto the chorus because they thought that I was a pretty brave to do it. So I was on the chorus. And after that I thought it was really cool. And I fell in love with theater.
Jacqueline TD Huynh: [00:20:06] And I guess that kind of help me come out of my nerdy, typical Asian self was being able to be other character and being on the stage. And it helped me a lot to be where I’m at right now. Do we have to talk about my stories and where I’m from and and send that message? Because I can tell you before my freshman year and before that, I could not even go up in front of class and talk about my report.
Vee: [00:20:39] So you were uncomfortable. Yet you push yourself to go through the whole audition ended up with a part in the chorus.
Vee: [00:20:49] So now you’re author, you’re keynote speakers. You’re basically doing a lot of public speaking where you’re constantly in that uncomfortable zone.
Jacqueline TD Huynh: [00:21:02] Yeah. You know, the thing about uncomfortableness and I think you probably agree with this is at first it’s always uncomfortable. But the more you do it, it’s comfortable. Right. It’s like crawling to walking to running. And I find that if I just if it’s something that is I’m curious about, I just kind of like. Let’s let’s try this and see if I like it. And the more I do it, either I get to choose that I enjoy it. I go down that path, hey, I jumped out of an airplane. You know, yeah a perfectly good airplane. One time in, I was in New Zealand and it was fun. I liked it, but I have no desire to do it ever again.
Jacqueline TD Huynh: [00:21:47] So it was uncomfortable and I’m sure I kept doing it. I would be very comfortable, but I was able to make that decision.
Jacqueline TD Huynh: [00:21:55] And I always tell my kids and people that with everything. Try it one time. You can’t say that you like it or don’t like it. You can’t talk about it if you didn’t experience it.
Vee: [00:22:06] Exactly. You have to try it at least once. And that’s what I tried to do for most activity. I’ll have I have to do it at least once and then I’ll know if I like it or not.
Jacqueline TD Huynh: [00:22:16] Yeah.
Jacqueline TD Huynh: [00:22:16] And I told that about food, because I have you know, you and I know we have some very strange food when it comes to the Asian culture.
Vee: [00:22:24] Oh, yeah.
Jacqueline TD Huynh: [00:22:26] And I tell my friends, you know, especially if it’s fruits and vegetables, you know, nothing crazy, weird, even like a rambutan.
Jacqueline TD Huynh: [00:22:33] I was giving my friend some and she’s like, that looks like Harry balls. And I said, it’s a fruit. It’s hairy on the outside.
Jacqueline TD Huynh: [00:22:41] You can. But it’s just a fruit. And I showed her how to eat it. She was like, it’s OK. Her son loved it. And so things like that. I always say, just try it. You just might like it.
Vee: [00:22:55] Is that why you ultimately went from nerdy Asian to a real estate investor?
Jacqueline TD Huynh: [00:23:01] You know, I fell into real estate because of my father.
Jacqueline TD Huynh: [00:23:04] My back in the mid eighties or like eighty three nineteen eighty three ish. My father got into real estate and I would help him out at the office. And it was one of those things, you know, you’re in high school, you need a job. So the broker would hire you or just, you know, have you help print out posters or whatever it was. And so I got into it by default. And when I graduated college and my dad always encouraged us to buy real estate for him, that’s where it was. Real estate, real estate. And I think it’s also a Vietnamese culture, too, because even now my relatives, you know, that’s that’s all they think about is when can we go buy real estate in Vietnam? And I went to go buy my first property and my dad said, no, you can’t just buy one that you live in. You want to buy something that you could also rent out. So I never even bought a single family home. I bought a condo that had a studio above the two car garage. So I my first at twenty five years old, I became a landlord because I rented the back studio to tenants. And then I had a three bedroom where I was at. I stayed in the in the master bedroom and two of my friends moved in and I collected rent from them.
Vee: [00:24:29] And this was in 93 now. This was I was two. I’m fifty two now. So I was twenty five. So twenty five years ago.
Vee: [00:24:38] So you you “House Hack” twenty five years ago before the term. Yeah. Became popular. Right. Exactly. Exactly.
Jacqueline TD Huynh: [00:24:48] In doing that I was able to travel because when I was 30 I quit my job and I decided that I.
Jacqueline TD Huynh: [00:24:57] I’ve always wanted to travel and all I’ve done all my life was work. Go to school. Right, go to school. Then went straight to work. And I backpacked around the world by myself for my whole 30th year. I went to Vietnam for the very first time. I stay there for about six weeks, just visit some families and took my time going up north, went to Tahiti, went to New Zealand, went to Fiji, went to Thailand, went to Malaysia, went to Europe. All these things I was able to experience because I had tenants living in my home that was paying the mortgage.
Vee: [00:25:36] That’s amazing, isn’t it? It’s the freedom that real estate can give you when you do it right.
Jacqueline TD Huynh: [00:25:41] Yeah, yeah. And you can start young. You don’t have to wait. You know, like I did. You know, I was I was twenty five. It was still the mindset of having friends.
Jacqueline TD Huynh: [00:25:50] But now my friends live with me and they get to pay me rent and we get to be together. And we actually had a really good time. We used to go to bars and go dancing all the time. It was like being in college again. I got to extend that a little bit.
Vee: [00:26:03] So. Twenty five years old. You that your first deal. How long did it take you to get to your second do so?
Jacqueline TD Huynh: [00:26:11] I at 30, I went off and then I came back. That was in Orange County. So I sold my property, moved to L.A. And then a couple years later, by then I was engaged.
Jacqueline TD Huynh: [00:26:24] And my husband at the time, I’m divorced now, but him and I bought a two properties on a lot for four hundred and eighty thousand dollars. The front property already had tenants in there. It was a two bedroom. No, as a three bedroom, one bath property. So we kept the tenant. We moved in the back. It was the three bedroom, one bath in the back. We added a second bathroom and we stayed there until the market. This was early 2000s. The market started turning around and we got a construction loan and the lot was actually zone R-3. Okay? So we could actually technically build three units on there.
Jacqueline TD Huynh: [00:27:03] So the property went doubled its price cut. It went up to over a million dollars. So we were able to take a full loan out without any down payment is using the property as collateral. And we built three condos which we sold. It went for about six hundred thousand each back then. And so we sold two of them. We stayed in the back unit, which we made an owners unit while we were developing a beach house in Redondo Beach. And then once we finished that beach house, we sold that back unit and we moved into the beach house. So we became developers really. We were not just investors. And that was that had his challenges, too. But I was able to experience that was like working with architects, working with subcontractors, working with the city, having to deal with all of the permits and stuff from the bank, because you’re collecting you know, you’re they don’t just give you the whole million. Everything is given to you in increments as you’re passing each permit you do draws, right?
Jacqueline TD Huynh: [00:28:15] Yep, exactly. So it’s it was a very precarious time because straight right ahead, we didn’t know back then was 2008, the market crashed.
Jacqueline TD Huynh: [00:28:25] And we luckily, you know, we had properties unlikely. We. Our marriage didn’t last. And so I had we got a divorce and we sold the properties. But I was able to have some money because we invested in the properties and I didn’t have to wait. If I would invested in a 401K. I couldn’t withdraw from that. I can’t sell it.
Jacqueline TD Huynh: [00:28:47] I’d wait till I’m sixty five. Right. But here I was in my well, I think it was 40 years old and I was able to withdraw on my investment and be able to still live for a while until I figure out what I want to do with my life.
Vee: [00:29:04] So let’s let’s take a step back real quick. You went from being an investor in a single family home to going full out, become became an developer. Did you have anyone who who taught you this or you just learned as it go?
Jacqueline TD Huynh: [00:29:18] You know, the only people we learned from was like our general contractor because we we hired general contractor, but otherwise we just learned as we went. Obviously, it would’ve been easier if we had a mentor, but you can, you know, do this. I mean, though, like I said, there were some pitfalls that we had to deal with that we didn’t know about. But luckily, we had a good architect that knew the city very well, the city people very well. So he was able to help us get things passed much sooner than if we didn’t know anybody. So we had a good team, you know, we didn’t know a lot, but we had a good team that helped us. And that’s the key is there’s less hurdles if you create that team.
Vee: [00:30:01] Right. So even with the team, though, at first and I see the recurring theme here is that you don’t know anything about it and you still jump in. You took the leap of faith and then it still worked out for you. Fine.
Jacqueline TD Huynh: [00:30:13] Yeah. I mean, we definitely had we did our research. It wasn’t like, hey, we’re going to do this as much as, you know, go do it.
Jacqueline TD Huynh: [00:30:18] We saw that other developers were we’re doing the same thing. So we checked them out. We talked to them because originally we were going to hire another developer just to do that. We talked to them. We did a lot of research to find out how much it costs. You know, we started interviewing subcontractors to see just get an idea of what they would do for us since we’re a one man. Show we’re not these big developers.
Jacqueline TD Huynh: [00:30:43] So we did do our homework. We did interview people and we created a team that we trusted it.
Jacqueline TD Huynh: [00:30:52] But, you know, you know, with everything everything we do, it’s a learning process. Everything’s not going to be perfect. You know, we ended up taking a little bit longer because the city took longer to approve of certain stages than that we thought. They don’t just come out every time you tell them to come out. You have to be on list and they get to you when they get to you. We had weather problem. It would rain and rain and then we couldn’t do any anything on their right. It was raining, so that got delayed. And so there were certain things that we would have done different, like maybe we would have denser. We have watched the weather, you know, in and timed it so that none of the process hit the rain season.
Jacqueline TD Huynh: [00:31:33] But overall, I think that having that team is what saved us from losing everything. You know, ’cause I think sometimes people think why can do this all by myself while I’m working, while I’m taking care of my family? I mean, I just had a baby and I was pregnant again, so I couldn’t possibly do it all on my own just with my husband.
Vee: [00:31:56] No, definitely not. I’ve seen people who’ve built their own houses, but it does take way too long. And just. Yeah. You know, with the project that you described there, you know, you’re building three units is if you did it by yourself, protect your six, seven years.
Jacqueline TD Huynh: [00:32:11] Yeah, I think we did it in about a year, a little over a year.
Vee: [00:32:16] That’s that’s great. You were able to capitalize on on that and you learn from the experience that you did, everything you managed to project and you were able to use the profit then bought rentals turn everything around. Then in 08, you were able to just cash out and just sit to wait to see what happened, you know, with the economy, with the crash. I’ve seen a lot of people who I was working with back then and I still remember they lost half of their 401K in a day. Yeah. And it was it was just crazy because I remember asking this lady, hey, I have a project here that you could invest in. And she said, let me think about it. And then the next time I met with her, literally, her retirement went from 400,000 down to 200K. Yeah. And that was it. She just did not talk to me again. I’m like, well, I can’t help you.
Jacqueline TD Huynh: [00:33:07] Yeah, and and here’s the thing, too. Property went down in certain areas. It dropped 50 percent, at least 30. But you know, in L.A. I think it dropped like 25, 30 percent. Oh, really? Only that so little. So, yeah, it was hard.
Jacqueline TD Huynh: [00:33:22] But then the thing is, though, we rented out our beach property, so we were able to ride it out. We didn’t have to sell until. I think we wait ’til 2013 before we sold and market was going back up. And that’s the thing that why it was so great that we have properties because the tenants are going to pay the same price even if the economy goes down, even if it blows.
Jacqueline TD Huynh: [00:33:44] They the people have to rent in a lot of times when the economy is bad. You’re going to have more renters because people lose their house or, you know, they didn’t. And they their primary. And that’s the thing is primary residence is not an asset. We think it is. Right. Because but if you’re having to pay something and you can tell Robert Kiyosaki talks about this, I mean, any finance person will tell you your primary residence is not an asset, is actually a liability because you’re having to pay for it. It becomes an asset when it can start paying on its own. So we were able to rent out our beach house to tenants and they stay there until we were able to ride the market to a better place before we sold it.
Vee: [00:34:26] So what were you doing in this period when you were waiting for the market to turn?
Jacqueline TD Huynh: [00:34:31] Well, I was going through a divorce, and so I moved out into a two bedroom with my kids. And we he moved out to a one bedroom. And once we knew that we could get a good profit on the beach house, we sold that so that we could cash out and finished with our divorce and.
Vee: [00:34:52] Okay. So and so from 2013 was when you sold your beaches in Redondo, right?
Jacqueline TD Huynh: [00:34:58] Yes. Yes. And then I started getting a team together, you know, and then this is what it’s about, is I getting the team that you trust that you know, are good quality people. Takes time. It could take a year or two. You know, networking, going to events and building a relationship. But then I met a couple really, really great people that I trust and started rebuilding my team and working with them to rebuild. You know what I what I had the one thing Vee that you can never lose is your intellectual asset and your human asset. No one can ever take away what you know and who you know. Right. No matter what happened, no matter what happens. Right. That’s still yours to keep, right. I mean, in my divorce, we had to split everything in half. But the only thing that we that he got was financial. You know, people go through bankruptcy and we see this right. You go through banks. You can you’re you’re going to lose your money. You’re going to go up and you’re going to go down. But knowledge and human and connection, human connection, you will never, ever lose. And with those two things is what is going to create financial wealth.
Jacqueline TD Huynh: [00:36:13] Financial wealth is a byproduct of who you know and what you know.
Vee: [00:36:18] So you have a team, you have the network. Now it’s time for you to go find your financial wealth. What are your teams doing nowadays?
Jacqueline TD Huynh: [00:36:27] Well, what we do is we work with wholesaler. And so we have a very unique turnkey real estate investing program and turnkey means for those that aren’t filled with real estate. Turnkey means really, you just put the key in, you turn it and everything is ready. That’s what turnkey.
Jacqueline TD Huynh: [00:36:45] We found that homes that’s outside of the main market, you know, Los Angeles, San Francisco, New York, Florida, Miami, things like that. You can find single family homes that will you can rent for about a thousand dollars a month. Your cash flowing right away. A thousand dollars a month. And here in Los Angeles, especially in the beach city, a condo goes for six hundred thousand. And if you may be able to rent it out for three thousand, maybe four thousand if you’re lucky, and if it’s a completely brand new a month and then you’re talking about higher property taxes and, you know, all all of that stuff. But what we found is that we could help middle America, average income families create cash flow now and not have to sacrifice their family time, not sacrifice, giving up their work time, which is what I had to do when I was involved in real estate investing in developing. I had to use my time to do that. So we decided we’re going to do something unique so that families can spend more time with their children by basically offering a turnkey program where we find the properties we rehabbed. We also property manage it so that our clients don’t even have to worry about late night phone calls.
Vee: [00:38:06] So what mark- What market are you guys buying in?
Jacqueline TD Huynh: [00:38:08] We have teams, and that’s the thing is, you know, there’s a many good markets, but our teams that we’ve created are right now in areas like in Annapolis, in Atlanta, in Texas, in Memphis. And those are some good areas that we have teams that we have eyes and boots on the ground to make sure that that’s not only the area, but the street is good, it’s tenant friendly, it’s land tenant friendly. And it’s in the sense that there’s more a lot of tenants renting and less owner occupied. So if someone moves out, it’s easy for us to rent to more tenants that the state is landlord friendly so that if the tenants we have an issue with tenants, easy to get them out. California is not a tenant, a landlord friendly state. So that’s why we we don’t invest here. These properties are for cash flow. So right away, you’re getting making money from the properties.
Vee: [00:39:08] So your strategy is going after cash flow and property, but not necessarily appreciating assets.
Jacqueline TD Huynh: [00:39:15] Yeah. You know, it is up. You know, properties appreciate. It’s just a matter of how much it appreciates. Right. And in the areas that we invest in, it’s more cash flow.
Jacqueline TD Huynh: [00:39:26] The appreciation rates are probably more like around 5 percent. It’s not the same as, you know, the beach areas where you’re seeing really high rates, 10, 15 percent. However, because of the price being low, it’s and it cash flow. We also make sure that it’s a stable market. So in the areas like Memphis and Indianapolis back in the 2008 crash, their properties depreciate less than like 3 percent. And so there’s a Web site called Little Big Homes. And that Web site is going to tell you appreciation and depreciation of homes for the last.. It goes back to nineteen seventy five for the top three hundred and eighty cities. And you can go there and see, you know, how much every year, how much prices increase and decrease. And so our properties that we have our clients invest in are very stable market.
Vee: [00:40:26] So they’re fairly fairly flat.
Jacqueline TD Huynh: [00:40:29] Yeah. Appreciation. Let me go to Memphis, Tennessee here so that we can. Memphis. It’s going up the house. So they’re saying the housing forecast the next 12 months is up about 88 percent. If you go down to the bottom, this is annual home price appreciation rate. In 2008, there was a depreciation because of the market crash of minus three point seven seven. Okay. As opposed to let me show you Los Angeles. In 2008, we had a minus twenty two point seven, one percent decrease in our home price in Memphis. It was a minus three point seven, seven. However, the last four years in Memphis, they’ve had an average of about four point five percent increase. So when that’s a you know, here in L.A., the last four years, we’ve had about a seven point five, seven point five increase. So that’s a pretty good trend there. Right. So the homes where these are for holding, these are buy and hold home so that you can constantly get that cash flow. But the nice thing is that we tell our clients, this is how you start.
Jacqueline TD Huynh: [00:41:48] Not a lot of people have cash in their home to buy in areas where there’s high appreciation, because if there’s high appreciation, most likely it’s lot is the more expensive and they don’t have fifteen to twenty fifteen to twenty thousand is what it would cost to get into one hundred thousand dollar home in Los Angeles. It costs it at the lowest price you could probably find. That’s good. It’s around six hundred thousand eight hundred thousand.
Vee: [00:42:16] That’s probably like a condo right.
Jacqueline TD Huynh: [00:42:18] That’s a condo as I’m a single family home. And in Torrance a homes are ranging in the one single family homes are above $1 million now. Oh, wow. Right. And but what you get here is appreciation. But knowing that you’re going to have to put money in when you get a renter in in a home in Torrance, they’re not going to the price that they’re the cost that they’re giving you for rent is most likely not going to pay for all your expenses, your property tax, your mortgage payments, your insurance. So you’re going to have to supplement. On the front in knowing that one day when you sell it, you’ll make it up.
Vee: [00:42:58] Right. And that’s a strategy that a lot of people from California.
[00:43:02] That they use is, you know, if you have money, if you’re not.
[00:43:06] Ashley, I have a lot of clients that are from California and they don’t have that kind of cash in their account to put down two hundred thousand dollars, which is 20 percent of a million, to buy a house and still supplement every month. So that hoping that five to seven years or whatever it is that they can hold the property, that they’ll make up their money.
Jacqueline TD Huynh: [00:43:28] Not a lot of people have that. Most people that I know need cash flow. They need money to supplement their income right now. They can afford to give me to give the bank, not me. You know, they go to a financial institution, which we have someone that we would connect. Like I said, it’s turnkey. So we help them with everything. We have lenders that for sometimes you can even get a loan for 3 percent. So for about three to four thousand after closing costs, you could own a house in Memphis, Tennessee, that’s worth about a hundred thousand. Right away there’s tenants in there paying you a thousand dollars. You take away some of the expenses and you’re still left with probably three to four hundred dollars a month cash added to your income.
Vee: [00:44:14] So in Memphis, you’re able to cash flow a thousand a month. That’s amazing.
Jacqueline TD Huynh: [00:44:21] Yeah, we don’t look at any properties we have. We call a 1 percent to a crisis center to rent ratio. So it minimum 1 percent is what we.
Jacqueline TD Huynh: [00:44:31] We look at for our clients.
Vee: [00:44:33] So you’re not cash flowing a thousand. You’re getting a thousand.
Jacqueline TD Huynh: [00:44:37] You’re getting a thousand. Yes. However, let me put something up here, because we actually send properties to our clients that we’ve done analysis on. So I can tell you right here, there’s a property for 90, a hundred thousand.
Jacqueline TD Huynh: [00:44:51] And if you your listeners, they can e-mail me at email@example.com and I can send them some of the properties that we’ve we’ve had. And it gives them a complete analysis. But like here’s the one that’s a hundred thousand dollars is a three bedroom, one bath. The monthly rent that we got that the tenants are paying is nine hundred dollars after property tax and in expenses there are cash flowing with mortgage about $3000 a year. And that’s on the first year. And that’s not including being able to write off on your taxes. So they’re getting more money back. Actually, so there’s more money on top of the 3000 cause now you have interests that you can write off and also the tenants are paying for the loan. You’re not paying for it. So the tenants are paying down the loan. So that’s amortization that you don’t have to pay. I mean, where else can you go where you get to buy something that’s worth one hundred thousand and you only have to pay twenty thousand and someone else pays the other eighty thousand in at the end you get to own it.
Vee: [00:46:02] There’s just no other assets class where you know other.
Jacqueline TD Huynh: [00:46:05] Right. No, nothing. You buy a car, you’re paying that all the way to the ends out of your pocket. You buy a home and you have tenants in it.
Jacqueline TD Huynh: [00:46:13] The only money that is coming out of your pocket is down that down payment once the tenants pay that off. And then you own it, they’re still paying you. So really, eventually you can just own that property and not ever have to pay for it. And so the first year alone on this property, your cash flowing three, a little over three thousand dollars a year. You get to also add the money, you get back from taxes. You get to also add amortization because the tenants are paying off your debt. And that’s only the first year, because after that you can raise the tenants rent so that you can always stay with inflation. 3 percent is the historically when inflation’s been. So you can raise the rent 3 percent. And so no matter what they pay, you market value and your loan is getting paid down. So now you have more money and you can leverage, right? Eventually your loan is up. The property is worth a little more money, but your loan is down. So then now what we do is we help our clients pull that equity out. And now they can use the equity and buy another property. So then they can cash flow another nine hundred dollars and they just keep doing that and doing that. And eventually you don’t even have to use your money anymore. You use other people’s money to buy properties and cash flow right away. You got to wait till you retire.
Jacqueline TD Huynh: [00:47:40] You don’t have to wait five years from now when you sell the house and hope that it appreciate. But in the meantime, you’re having to supplemented. Right now, you can start cash flowing with our properties.
Vee: [00:47:51] So I can see the. Important piece to the turnkey operation. A few pieces, actually. So management team, your team in place and your team is I assume they’re local boots on the ground.
Jacqueline TD Huynh: [00:48:04] Yes, exactly. And other is a 10 percent fee on the property management fee. That’s 10 percent of the rent, which is about it comes out to basically about a thousand dollars. Basically, you just imagine that one months of rent is going to go to property management fee.
Vee: [00:48:21] Ok. Right. So if I were someone who wanted to invest. Right. You’re controlling the process from beginning to end for me.
Jacqueline TD Huynh: [00:48:30] We don’t control it. You control it’s your property.
Vee: [00:48:32] Right. OK. So I’ll take that back, it’s my property. But you’re buying it. You’re sourcing the deals and you’re giving me options for financing. And then you’re also, in the back end having property management in place and putting in a tenant in there already. So I just have to go in, get the loan and buy it as this property. Then I’m ready to go.
Jacqueline TD Huynh: [00:48:56] Yep. OK. Exactly. And in the end, you own it. We don’t own it. I mean, it’s kind of like imagine like a real realtor. We’re like we’re like realtors. But the difference is that a realtor, once they sell it to you, they’re gone. They don’t help you with anything. Right. We stay with you. We want to build a relationship with you for your lifetime or are actually our lifetime. Right. Yeah. And so we’re there to help you. And the nice thing is, because we have so many clients, we work with the same people. You’re not alone.
Jacqueline TD Huynh: [00:49:25] So they can’t take about like the people that we work with, their property managers. They are our business makeup, anywhere between 50 to 75 percent of their business. So they’re going to go out of their way to help you if you need something. Our maintenance people same thing? You know, we hired third party, but they know that we give them a lot of business. So there were more likely to able to cut deals with them. So that only benefits you.
Vee: [00:49:55] Right. Because though, I was going to ask you that question because you are selling the property. So from the sell side, obviously, you want to get the highest prices possible. And then when you’d sell it to me, the buyer right now, Jacqueline, you are also running the property management company. I’m trying to see how do you have not have a conflict of interest there. And the reason I ask this question is because I have a lot of friends that recently dealt with a turnkey operator in in Dallas and he bought it. And when I look at it. OK. He paid retail for the house, which was fine. But then in the back end, this property management company was just niggling and dimed him for every knickknack things. So on paper, it looks good that he was going to cash flow. But then when in reality he was losing money.
Jacqueline TD Huynh: [00:50:49] I would have to. You know, that’s the thing, too. You have to. Not all property managers are good. You know, I think with any profession. Right. Any profession, there’s going to be people that take off and you and people that are really good. And so we have to make sure that we’re not lumping all property managers as badges, like not all turnkey operators are bad. Right. All electricians are going to take advantage of you. And that’s where you would have to interview. And the property managers are really third party people that we hire. And we have moved in property management companies if they do something we don’t like. Right. And that’s the key. So, that’s how we stay out of the conflict of interest because we don’t actually property manage it.
Jacqueline TD Huynh: [00:51:34] We manage the property manager for, you know, to make sure that for you doing so, your job for you, your company is managing the asset. Basically, the property manager is managing the property. Two different deals.
Jacqueline TD Huynh: [00:51:48] Yes. Yes. They’re third party. They don’t actually work for us. They actually work for you. However, because we bring them business, they also answer to us, because if we don’t like them, if they start changing their fees or whatever it is, they’re not communicating with us or with you. You can literally call us and say, I’ve tried calling them numerous times. They’re not answering me. Right. Then we get involved and they’ll listen to us because and we have to tell you, we haven’t had any problems. And just this is a scenario I’m just making up because we interview property management companies. They have to have so many years in at least 10 years in the business. They have to have so many doors that they’re they’re managing right now. You know, they have to have some sort of integrity. We we do do our due diligence. And so we mitigate the risk. But do we always get it right? No. We have moved to different property management teams. Not anything big, you know, but we had we found better and we’ve moved it. And so we’ve done. Everything we can to mitigate risks. We can’t guarantee to our clients that there’s not going to be a risk in any kind of investment. Whether like you said, you knew someone with the stock market with a crash. They lost half of their 401K. Yeah. So there’s you know, we can’t there’s no. Right. And so. Right. And so that’s the nice thing is that we’ve done all the research on these properties in these areas.
Jacqueline TD Huynh: [00:53:14] We from history and from industries, you know, like FedEx were, you know, companies there. And Apple is, you know, certain areas where big industry companies are going in and building their corporate office. We know there’s going to be jobs. So that means there’s gonna be people. So population growth is high. You know, we look at that. We look at the area. We’ll look at the street. We look at the neighborhood. Is it a high area of renters? That’s easy to rent out. Is it a landlord friendly? So if they don’t pay rent or whatever it is, you can kick them out easily. And so we’ve done as much as we possibly can. We also teach our clients how to do any of this so that eventually, if you want to do on your own, you definitely can. And the thing is, you don’t have to even use the property management. You can do it yourself and save the thousand dollars. It’s just there for people if they want to use it. It’s people that we’ve trust. We’ve interviewed and we trust them. But do you have to use it? No, you don’t. If maybe you have some time and you’re like, you know what? My regular job doesn’t take that much and I kind of want to see what it’s like. Absolutely. You can property manage it yourself, too.
Vee: [00:54:29] So definitely that’s what differentiate your company. And other that I’ve seen around is that you use third party management. So there’s no conflicts of interest there. And then you also educate your clients. I think that’s the key part to help someone if you’re a busy professional and you think about this as a good idea. Like my friend has West Coast money, then yeah, you’re coming into this situation thinking, hey, I’m going to just put the money in here and then I’m done. It may be true if you are dealing with a turnkey operator that has integrity and do everything correctly and minimize the risk for you. But at the end of the day, you still need to know what you’re dealing with.
Jacqueline TD Huynh: [00:55:16] Yep. And that’s why we have the education piece, because it’s still your money. Even your 401K and your mutual funds, your stocks that people are buying that you should still know. What are the fees? I mean, you’d be shocked at how much fees and ways that Charles Schwab and all these other companies are taking from you. You need to read the fine print. You need to understand how this stock market is working. Don’t just blindly keep putting money in something, whether it’s real estate or stock or mutual funds. It’s your money at the end of the day that you’re losing or gaining. And the best way we can help you with that is to educate you. If you’re a busy professional, maybe you don’t get as much as education. We don’t take as many classes that we offer or listen to many as many YouTube videos that we have. But when you can, I would suggest it.
Vee: [00:56:11] So for the investors that wanted to purchase from you, can you paint a picture? Who is your perfect customer?
Jacqueline TD Huynh: [00:56:19] I love working with families, I guess because I’m a mom, I’m a single mom. But my children and the legacy that I leave behind is most important to me. And I want to leave it or to leave a paycheck for life for my children as well as have extra money now. So I love working with families, moms and dads who are thinking I want to create more money. Cash flow right now so that it can supplement my income. I don’t have to worry so much and it’ll be there for the rest of my generation and the generation after me. Someone that has a home that has equity because, you know, we know a lot of the homes now. The market’s gone up is ideal because I can help them utilize that equity. So it’s it’s being used because equity is a win it losing scenario if you’re not doing anything with it. And if the market does adjust, that equity may be gone or at least drastically reduce. So why not do it now while you have the equity in there? Invest in property, start cash flowing, and then if the market does turn, you’re still cash flowing. Because the tenants are not going to leave. They’re going to need. They have to live somewhere. And you don’t have to reduce the rent because the market is going down.
Vee: [00:57:43] Is there any resource for you to find out what the market rent was during the time of recession in 0 8 or 9 in the areas that you’re buying in?
Jacqueline TD Huynh: [00:57:52] At the one Web site, I talk about the little big homes, dot com. It has, you know, three hundred and eighty top cities there. That’s a great research area for you people to go in to look at what area is good.
Jacqueline TD Huynh: [00:58:07] What the trend has been the last since 1975. This is the House Price Index, another one that is good. I would say if you wanted to start so they can go to Mike Wolf w o L.F. Mastery dot com. That’s one of the people that I work with and sign up for his mastery course and be sure to tell him that I sent you because that way I’ll be the one to help them, basically. But it’s a whole video series that will get them to understand this market, the real estate market and investment and all this stuff before they actually make that decision to buy something.
Vee: [00:58:56] Yeah. This this Web site that you just give us Littlebighomes.com is really great. I use in the past, I use something a lot more complicated than this is the Case-Shiller index. And it shows everything. It tracks a lot of the cities that we’re seeing here. But it’s all numbers. So you have to do some calculating to come up with what you need, whereas this is it’s very easy to see. Just go to the Web site. It’s point and click. Then all the data are out there.
Jacqueline TD Huynh: [00:59:26] Yeah. Yeah. And you know, it’s someone’s, you know, getting their feet wet. Starting to look at it. And then you can also go to rent. Rentometer. So rent and then the letter o meter dot com. And that shows the average rent rate for certain areas.
Vee: [00:59:43] Actually I think it shows it for all the US. It says that it shows for the last twelve months, if you wanted to see the last six months, you have to pay for it.
Jacqueline TD Huynh: [00:59:53] Ok, this is just. And then I mean there’s so many podcasts and everything like that.
Jacqueline TD Huynh: [00:59:58] But I would go I like I love Mike Wolf, Mastery dot com because he has such a wealth of information and videos. I think he has over a hundred videos on YouTube. He’s one of I work with two people and that’s one of the people that I work with to help find homes for my clients. And Mike Wolf also has tons of classes that you can go to to learn. He has a mastery system that if someone wants to join the mastery part, they can email me and I will send them a link to join it for free to be in the master group.
Vee: [01:00:38] Ok. So the e-mail that you won them to send to is Jacq or info.
Jacqueline TD Huynh: [01:00:46] Just having to do info. Yeah, info at integrative minds with an s dot com.
Vee: [01:00:54] One last question for you, Jacqueline. And this is not business-related or real estate related. In your name, your name is Jacqueline TD Huynh.
Vee: [01:01:01] When I and I’ve been wanting to know what the TD are for. Touchdown it’s stands for a touchdown touchdown win.
Jacqueline TD Huynh: [01:01:12] No, no, that’s an easy way to remember it. But my Vietnamese first name is Trang Dai and so the T.D. stands for Trang Dai. However, I find that most people remember a touchdown easier.
Vee: [01:01:28] So your Vietnamese name is Huỳnh Trang Đài? Yes. Oh, interesting name you do. How good is your Vietnamese
Jacqueline TD Huynh: [01:01:37] Now? In conversation. No, I can do it. Writing and definitely is Delery difficult since I only went up to the second grade in Vietnam and we learned more how to read when we got over here.
Jacqueline TD Huynh: [01:01:49] So I can read a little bit better, but probably like a fifth grade level reading third grade, second grade level writing. But I can speak much better because that’s much easier.
Vee: [01:02:00] That is that is awesome. I haven’t had ever met anyone that came to the US, you know, in the 70s like yourself and still be able to speak and learn as most of the people I met, they they are just speak English. They don’t even know Vietnamese.
Jacqueline TD Huynh: [01:02:19] Yeah, I think it helped because we were in Orange County and we grew up there and a lot of the temples on Sunday they had Vietnamese class and we were all forced to take karate on Saturday and then go to vitamins, study at the temple on Sunday.
Jacqueline TD Huynh: [01:02:37] It wasn’t a choice by force. We would get a whooping and we spoke English at home too.
[01:02:44] I (laughter) All my life?
Jacqueline TD Huynh: [01:02:48] I do remember nói tiếng Việt, nói tiếng Việt. Which is translated. Speak to me in English. You know.
Vee: [01:02:57] And that’s great. Well, Jacqueline, you have been great. Thank you so much, you, for being on the show here.
Vee: [01:03:03] I learned a lot about your business and yourself. You know, when I listen to you talk about the upbringing and especially you, the part where you share about your dad and experience. Back then, I actually had chill. And I was so emotional because it put me right back in to the stories that my my dad was telling me. And I heard a lot of things in stories, war stories from from people in Vietnam in that era.
[01:03:33] And now I was not able to discuss that when I was back there. Thank you a lot for sharing that. You’re welcome in that story.
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