How Real Estate Investor Find Off-Market Deals,Cash Flow Assets, & High-Yield Opportunities in Texas

Dan Vogler (00:00)
Whether it’s the patients there, the doctors and nurses that work there, the the patients’ family or friends that are visiting, that ⁓ people I think eat every day. And that this captured demographic of being ⁓ next door to the largest hospital in Austin, but also in a medical district with ⁓ a dozen medical buildings across the street and

Staffing of fifteen thousand people in those medical offices where the doctors practice out of the hospital and have their own ⁓ medical practices across the street. ⁓ so it’s this captured market that really justifies and I believe feels ⁓ an immediate need for a twenty-four-seven diner ⁓ next door to the largest hospital in town.

Cody Crabb (02:28)
Hello and welcome back to the Real Estate Pros podcast by Investor Fuel. I’m your host, Cody Crabb and today I’ve got Dan Vogler with me. Dan is based in Austin, Texas, and he’s the CEO of Reo Texas Investment Fund, where he’s focused on cash flow projects, pre-leased commercial retail, and some new opportunities that he’s super excited about. ⁓ Dan, thanks so much for hopping on the show today.

Dan Vogler (02:50)
Thank you, Cody.

Cody Crabb (02:51)
so give the audience a a lightning fast ⁓ version of your story. You know, how did you get into ⁓ how did you get into real estate? I know you said you were ⁓ you said you’re an electrical engineer by trade, is that right?

Dan Vogler (03:01)
Yes, and I’ve got some patents going in the world of smart grid, but ⁓ it it’s kind of hard to lose money in real estate unless you overpay for it. ⁓ Texas is is such a growth market. I’ve made plenty of money in real estate without even trying by just being observant and not overpaying. And ⁓ in the world of real estate I’ve seen four opportunities that I’m as a portfolio I’m wrapping into the fund.

Cody Crabb (03:29)
Gotcha. ⁓ so this that’s exciting. I I’m excited to hear kind of some of the things that you’re looking forward to.

So in plain English, some of our audience are kind of on the newer side of real estate. ⁓ give us the clean version of what Reo Texas Investment Fund does. The as in the simplest terms, and ⁓ also I should note it’s R E O Reo, not R I O. Reo, which is very clever. I’ll give you that.

Dan Vogler (03:54)
Yes, the the River Texas. ⁓ or real estate opportunity, br play it either way. the real estate investment fund will be acquiring four properties, and these are all very unique opportunities that are pre-leased. So there’s already ⁓ t tenants to bring about a attractive ⁓ cap rate of of fifteen percent or better. ⁓ so it’ll cash flow from day one.

This will sustain ⁓ some leverage typical mortgage debt, ⁓ and then the investors will be coupling with ⁓ my capital investment ⁓ for our down payments to acquire the properties.

Cody Crabb (04:35)
Hmm. Okay, so this is a new venture you’re taking on.

Dan Vogler (04:39)
Yeah, well I’m experienced in real estate, both commercial and residential, but this is a new venture in terms of just seeing four properties that I’m packaging in a single portfolio.

Cody Crabb (04:51)
Yeah, interesting. ⁓ well I’d love to hear you know, wh why does this kind of model appeal to you? I mean, what’s what are you getting from kind of packaging this together, so to speak, that that you maybe wouldn’t get kind of in in these these individual ⁓ opportunities?

Dan Vogler (05:57)
Well, not only will I be the l landlord of all of these properties and maybe take a minority interest equity interest in each of the ⁓ tenant companies, but all of these efforts are something that ⁓ appeal to me. I’ll be a customer going to ⁓ the the the properties ⁓ in their commercial operation. So

It’s all something that appealed to me that I I do every day or every week. And ⁓ I I just think I I and my ⁓ tenant partners ⁓ can ⁓ optimize it with best practices and efficient operations to make it ⁓ profitable from day one.

Cody Crabb (06:46)
Yeah, I mean so ⁓ I’d love we got into this a little bit before the podcast, but ⁓ I’d love to share I’d love you if you could share a little bit about this ⁓ this idea that you’ve kind of it’s not an idea, it’s it’s happening. You’ve you’ve already you’ve already done ⁓ some work toward this. ⁓ you mentioned ⁓ a restaurant idea and a lot of people hear a restaurant and they kind of go, ⁓ Like like that’s a famously kind of bad margins, not a great venture most of the time unless you really, really know what you’re doing. But

I the reason I wanted to talk about this is because this is the opposite of that because of the of the kind of research and and kind of just obs observations you’ve made. So I’d love you to tell for for you to tell us the audience a little bit about that and kind of how how you identify opportunities like that.

Dan Vogler (07:37)
The Medicine Man Twenty Four Seven Diner is the name of the restaurant, and it is uniquely positioned as the only twenty-four seven diner. ⁓ there’s only two others in town. It’s the only twenty-four seven diner in a population of one million people. So

Cody Crabb (07:57)
Kind of crazy actually.

Dan Vogler (07:59)
And

⁓ some interesting demographics that ⁓ make this unique and and build my confidence is that we are adjacent to the largest hospital in Austin. And it’s a 24-7 operation with a bunch of doctors and nurses and three shifts seven days a week, 365 a year, that ⁓ with in in somewhat of a food desert where these people that are

professionals that are on the go n need to get their coffee and breakfast taco and lunch pan panini ⁓ i and get on to work.

Cody Crabb (08:39)
Yeah, well and as soon as you started talking, I was like, ⁓ man, like I have I have two kids. When when I was in the hospital with my wife, I remember being at like two in the morning being like, I gotta go get something to eat and I I literally remember being like, Nothing is open and I this exact problem would have been solved by by this venture. So very it’s it’s very I love how intentional it is.

Dan Vogler (08:59)
Whether it’s the patients there, the doctors and nurses that work there, the the patients’ family or friends that are visiting, that ⁓ people I think eat every day. And that this captured demographic of being ⁓ next door to the largest hospital in Austin, but also in a medical district with ⁓ a dozen medical buildings across the street and

Staffing of fifteen thousand people in those medical offices where the doctors practice out of the hospital and have their own ⁓ medical practices across the street. ⁓ so it’s this captured market that really justifies and I believe feels ⁓ an immediate need for a twenty-four-seven diner ⁓ next door to the largest hospital in town.

And it’s not just

That capture demographic of the medical business, but also the observation that Texas is the second fastest growing state in the country. Central Texas is the fastest growing part of Texas, and the University of Texas with seventy thousand students at one campus is the largest university in the country.

Cody Crabb (10:55)
and if we know one thing, it’s college students do not like to stay out late and and eat food while they’re doing it. That’s the one thing we know, right? Yeah. Well, it’s so this is this this begs the question then. So I mean, this seems like a pretty slam dunk idea. So first of all, I’d like to ask wha how did you come up with this? Like what kinds of observations are you making to come up with stuff like this? But my other my other question is like, is do you think there’s a reason this hasn’t been done yet? I mean, it seems like that would have been

Thought of already, right?

Dan Vogler (11:25)
You

know the the two other twenty four seven places in town are an IHOP restaurant. ⁓ and anyway, I’ve got I’ve got an off joke there.

Cody Crabb (11:37)
I gonna say enough so. I got enough colored j

Well I could you know what I’ll I’ll take I’ll take your word for it. And also I can you don’t really need to say more. I can tell that you’re not an IHOP fan, as it the to say the least. ⁓ but as far as ⁓ as far as like ideas, like ⁓ you know this is just one of these ⁓ new ventures you’re coming up with. You said you have ⁓ a decent amount of

Dan Vogler (12:00)
Four,

four in the portfolio, all of them unique.

Cody Crabb (12:03)
Yeah, and you said you also have a some decent experience in real estate to begin with. I’d love to hear kind of how how you come up with ⁓ you know, there there’s a difference between like a single family investor or and or a commercial investor, but then there’s also things like this where someone kind of sees an opportunity that’s not just a fix and flip or something and you kind of jump at it. What are you kind of looking for ⁓ for things like that?

Dan Vogler (12:30)
in terms of new acquisitions?

Cody Crabb (12:32)
Yeah, but ⁓ also in just your experience in the past, like how how have you kind of I mean what kinds of asset classes have you been in before and kind of what made you attracted to this new kind of ⁓ style?

Dan Vogler (12:43)
I I’ve done some residential fix and flips. ⁓ but ⁓ boy, the easy one was buying ⁓ four mobile home lots ⁓ i in in southeast Austin, ⁓ cleaning up the dilapidated mobile homes that were ⁓ f falling to the ground there and hauling off the trash, cleaning it down to just a ready clean lot that people want to put their mobile home on and not

put it in in a mob mobile home park, which is not a good deal for a mobile homeowner. When you buy a a mobile home, where do you put it? Hopefully on your own land, not in a mobile home park where they’re charging you eight hundred dollars a month just for a piece of dirt and and a water tap.

Cody Crabb (13:32)
Yeah.

Dan Vogler (13:35)
So ⁓ I I bought four mobile home lots, ⁓ cleaned them up, set on for just a little more than a year, and ⁓ flipped those for ⁓ half a million dollars of net margin. Wow. I did I did a

Cody Crabb (13:54)
That’s that is the definition of it kind of an unsexy ad v investment, but like man, that those results kind of speak for themselves, don’t they?

Dan Vogler (14:02)
I bought another a very large one acre lot and there was like a not a typical realtor sign, but like a a handwritten for sale by owner sign. And one sign had fallen down on the ground on the main street. I drove around the other side and on the back street there was the handwritten sign with a phone number on it. ⁓ huh. So I called the number and the person said, I’m not the owner of that land.

He wrote down the number wrong. I don’t know who you’re trying to reach, but it’s not me. So ⁓ that was s some angelic guidance. I had my realtor look look up who the owner was. ⁓ I I the guy was desperate to sell it and get out from under debt.

Cody Crabb (14:50)
You would think he would have written his number right then, yeah.

Dan Vogler (15:33)
And ⁓ or somebody would have tracked him down by now with the volume. So ⁓ I have a couple of hard money lenders that I have a ten year established relationship is and the good thing about hard money, even though it’s expensive, it can be, you know, ten to twelve percent interest rate, that the hard money guys are it’s asset based and ⁓ usually with a

Cody Crabb (15:38)
Yeah.

Dan Vogler (16:03)
70 or 80% LTV, well the hard money can move quickly. So I can make an offer as cash rather than some HUD financing that’s gonna take 45 to 60 days. If I offer them in cash, but in fact pay for it with a hard money loan, it’s like cash. I can close in ten days or less. That appeals to the sellers. That if they don’t have to that the the fast money wins.

whatever the price is. If so I I’ve been able to do that more than once with my hard money lender relationships or in some cases just using my own cash and paying cash for it. Or even in the last residential property I bought, ⁓ I I put up ten percent and got seller financing. You know, if you can get seller financing that’s better than a HUD bank, ⁓ depending on the terms, but

E easier to achieve than you know the the banks that I know that are both paranoid and and greedy, which are two conflicting emotions. ⁓ so I I’ve had some good experience in real estate. The other two I’ll talk about quickly in terms of experience. ⁓ I bought ⁓ twenty acres in Smithville, Texas, the one county over in Bastrop County, and ⁓ tripled my money.

on that land selling it to a utility scope ⁓ scale solar development that I right next to the airport and the electric grid that that’s ⁓ solar developer ⁓ kind of had no choice to fulfill his contract with the city to build a two megawatt utility scale solar project so I there there was some partitioning there but I sold one to a brewery another one to

of a a couple that built a hangar home for their private plane next to the airport ⁓ and 16 acres to ⁓ a solar developer and he did very well he flipped out of that and double his money so ⁓ what’s on the table now with my real estate holding company LLAP I’m selling fifty four acres to a data center and I’m doubling my money there.

I bought it for six and a quarter million dollars with my own cash and seller financing. So under contract now for twelve and a half million dollars. Aside from my carrying cost, I’m doubling my money ⁓ above my cost basis. I don’t have to build anything. So

Cody Crabb (18:47)
So, okay, so this is I find this really interesting because I feel like ⁓ you kind of have kind of just stumbled upon things and just kind of d grabbed them as you’ve seen them, which I find really interesting. ⁓ so our a lot of our listeners are like I said, they’re they’re kind of wanting some advice on real estate investing. They’re wanting to know how to, you know, how to best get started or how to best kind of do this. And and looking at your kind of experience and ⁓ the things that you’ve done, it kind of just seems like you kind of

stumble upon them. I know that that’s probably not true. You probably go to quite a ⁓ you know, some lengths to to find these. But that’s what I want to ask for our audience. Is how do you how do you come across these deals in situations like that?

Dan Vogler (19:29)
Whether you call it dumb luck or angelic intelligent angelic guidance, I feel very blessed to be where I am today. And actually my corporate offices, I w just saw a a sign that just came up. And part of it is of ⁓ real estate success is just being observant, looking for new signs that pop up, new opportunities, something that’s just come onto the market.

before if it’s a good deal before somebody else takes it. are even finding properties before they’re listed and and the realtor w ⁓ is unrealistic about the purchase price. ⁓ and our corporate offices, ⁓ I’m just driving down the street. I had a a ⁓ a lease space with kind of a nosy landlord ⁓ and I just wanted my own space. ⁓ there there’s a sign

⁓ for sale of commercial property right on South Congress. I bought that for ⁓ three hundred and sixty five thousand dollars ⁓ ten years ago ⁓ with ⁓ in a lease purchase ⁓ with with some seller financing ⁓ and and credit of the part of the lease purchase into the ⁓

applied as credit to the purchase price. That’s the way to structure a lease to purchase, ⁓ which really kind of ⁓ blended in into the same purchase arrangement. Well I bought that for three hundred and sixty five thousand dollars just ahead of the boom here in Austin. it was just appraised for three million dollars and I had it refinanced for

two million dollars and pulled a a good cash out out of it.

Cody Crabb (21:26)
That’s awesome. So okay, then of course people are hearing that, like, hey, come on. Like how do I how do I do that? So yeah, your your strategy seems to be sort of ⁓ buy and hold first to some degree. Is would you kind of agree with that?

Dan Vogler (21:40)
Yes, and the South Congress property with my corporate A offices are, that’s really my nest egg. I’m never gonna sell or flip that. We have operations there and it continues to ⁓ rise in value and it’s one block walking distance from my home as well. Uhhuh.

Cody Crabb (21:57)
So yeah, no, no, ⁓ there’s nothing nothing wrong with that. okay, so clearly, you know, this is there’s a there’s a theme here, right? You’ve made money by being observant and kind of moving quickly, finding overlooked properties before they kind of become obvious to everybody else. So let’s make this practical. Like, give me the bullet point. Like, what’s what’s one mistake people make when they kind of think they’ve come across a good deal?

But maybe they haven’t. Because I mean you’re clearly analyzing these things w whether you realize it or not.

Dan Vogler (22:29)
Well, first of all, you w you don’t want to overpay for it. That yeah, that that’s the first must that it if you overpay for it, it’s gonna be hard to make it profitable or flip out of it or you know properly develop it. Also in a a real estate purchase contract called the PSA, the Purchase Sales Agreement, ⁓ you wanna create the little amount of money possible into the longest

option feasibility period. And at that point, maybe you can pre-lease it, pre-sell it, ⁓ do that feasibility to speak to the the s city and the the zoning development office and make sure that it’s got no deed restrictions or is properly zoned to do what you want to do. So ⁓ don’t overpay for it and even when you bring it under contract

Cody Crabb (23:01)
Yeah.

Dan Vogler (23:28)
Create the longest feasibility option period as possible. I I’d like to, if if the seller would agree to it, no less than 60 days, and a commercial property, that’s reasonable. Not a residential property. They want, you know, there’s they want to get out of it as quick as possible. But a commercial property, 60 days or more, is certainly reasonable to do that feasibility of a commercial development. However, the building is going to be.

⁓ rehabilitated, flipped or or repurposed.

Cody Crabb (24:02)
Mm. So, I I really I love this. I find it really interesting when we have guests that are kind of in in a in one lane kind of professionally and then they see their investing as a completely separate lane. ⁓ so ⁓ how have you kind of managed that with ⁓ with the I mean you said you’ve you’ve worked as an electrical engineer. How do you manage both of these at the same time?

Dan Vogler (24:28)
⁓ I work a twelve to fourteen hour day. I’m a serial entrepreneur. I’m in good health and have a good diet and ⁓ try to take half a day off on Sunday.

I’m not married. I don’t have a wife and kids to take care of. I do have a baby daughter and a baby mama at the other part of town. ⁓ so ⁓ I I’m they they’re so loud and make such a mess. I I’m glad that I don’t live with them. that y you know, that saying that ⁓ women you can’t live with can’t live without I have my own version of that. Women you can’t live with

you can’t murder them. ⁓ I

Cody Crabb (25:12)
I would agree with that. Yeah. You probably yeah, you can’t do that. I’ve got well, I’ve got two little guys of my own and let me tell you, like, yeah, I I I understand It’s a full problem. Yeah, for sure.

Dan Vogler (25:25)
So ⁓ yes as an electrical engineer I have ⁓ several ⁓ patents and inventions going on. ⁓ that’s my my true calling. But the real estate opportunity is kind of hard to ignore. It’s right under my nose and I see it as something unique. with with almost zero competition in these four different

projects or or acquisitions within the portfolio of the Reo Texas Investment Fund. So ⁓

Cody Crabb (25:57)
Mm.

Yeah, I can tell I can tell that we could keep going for a long time. I you’ve got stories, you’ve got so much to to share with the audience. ⁓ but unfortunately we’re running out of time here. So I’d love it if if someone wants to connect if someone wants to connect with you or learn more about the the investment fund, you know, who should be reaching out to you and where can they go to find out more?

Dan Vogler (26:20)
Well, I’m about to start a a capital raise for investors. I’ve got a good mortgage company, several lenders lined up on the on the debt side, ⁓ that that believe in the projects and and my ability to meet that debt service. But then the ⁓ down payments, which typically would be twenty percent, I’m off offering the investors a ⁓ eleven percent preferred return.

with an eighty five to fifteen percent split and then ⁓ a fifty fifty split thereafter. So a very attractive preferred return and long term return to the investors ⁓ for the ⁓ the t the twenty percent of the of the total acquisition raise.

Cody Crabb (27:08)
Mm. So ⁓ locals only? Yeah, are you okay you’re okay with ⁓ investors from across the

Dan Vogler (27:13)
It

could it could be a a sovereign wealth fund from Saudi Arabia or the United Arab Emirates. and there’s there’s a trend there that foreign investment, especially in the Middle East, where these Arab Sheiks they’re not investing in in Saudi Arabia or the or Dubai. ⁓ they want to invest in America, whether it it’s a high tech company like SpaceX that

The majority of it last week went to foreign investors or ⁓ the I I’m not I I’m you know, I there’s there’s no prejudice there or preference in terms of where the investments come from. The Reo Texas Investment Fund will be a a ⁓ Texas LC, ⁓ but I have a a very experienced

real estate attorney, Steve Mitchell. He’s been doing real estate law for fifty years now and securities law. So the the right guy on the legal side. I’ve got ⁓ several experienced ⁓ real estate brokers either on the residential side, land side or commercial side, ⁓ people that I’ve worked with in the past. So I had the right professionals in terms of the execution of the acquisitions.

I have the I have the tenants lined up for all four properties. So they will they will cash flow if not from day one ⁓ from nearly day one. So it’s I’m not buying a building and then hoping to rent it like a a ⁓ multi family apartment building, it might stay half empty for a year. ⁓ so

Cody Crabb (28:46)
Better.

Yeah.

That sounds interesting to you, reach out reach out to Dan. It sounds like this this this could be a really great opportunity. ⁓ remind did you give a website or a contact info? Maybe I missed it.

Dan Vogler (29:14)
⁓ you can reach me on LinkedIn. ⁓ let’s see, what is my LinkedIn address? I think it’s LinkedIn ⁓ Dan dot Vogler. Let me double check that.

Cody Crabb (29:25)
Yeah, no problem. Yeah.

Dan Vogler (29:27)
I’ve got two of ⁓ It’s Dan Vogler, D A N V O G L E R with no ⁓ dots or punctuation in it. And then I’ve got a second one, I need to consolidate that. Dan Vogler dot ninety eight. Either one of those, I’ll pay attention to those. I’m the only Dan Vogler on LinkedIn in Austin, Texas.

Cody Crabb (29:45)
All right.

Awesome. Well reach out, reach out if that sounds like a good good opportunity. thanks, Dan, for sharing so much today with our audience. And thank you listeners for hopping on with us as well. If you liked what you heard today, go ahead and give us a like, subscribe, comment, follow, retweet, I don’t know, all the things. And make sure you don’t miss another episode to get better, awesome conversations like this one. Dan, once again.

Dan Vogler (30:13)
We we haven’t talked about the other three projects in the portfolio. Let me close it with this real quick.

Cody Crabb (30:18)
Wait. Let’s let’s do a little we’ll do a little tag at the end. Yeah, that’s all right.

Dan Vogler (30:21)
So the ⁓ second project is going to be a ⁓ a pool hall, billiards hall, and a comedy club. Wow. So ⁓ a a a blended business where it’s ⁓ billiards all day long and c comedy Thursday, Friday, Saturday, and Sunday. Here again, this is in far south Austin where there’s no comedy clubs and Austin has been become a comedy hub.

Since Joe Rogan moved here with his mothership, there’s a bunch of comedians that have moved to Austin. But here again, South Austin is kind of a comedy desert, and this blended approach of billiards and comedy ⁓ here again will cash flow and I got a tenant for that. ⁓ the the third project is a ⁓ a metaphysical clinic. It’s a resort property, it’s already making thirty thousand a month as an Airbnb.

We’re gonna tr triple that income, turning it into metaphysical clinic, doing everything from the Airbnb business model. We’ll keep that going. But it’s got two swimming pools, spa, sauna, bunch of little cabins. Very beautiful ⁓ site in the ⁓ hill country of Austin. Everything from yoga, massage, ⁓ acupuncture,

Hypnotism, all kinds of healing arts ⁓

Cody Crabb (31:53)
Yeah, that sure sounds like Austin to me.

Dan Vogler (31:56)
Yeah, it kind of that magical juju, but ⁓ Austin’s the right place for that. And then the the fourth one, which is a little more far reaching. I haven’t found the building yet, or we may build a building. ⁓ that will be a ⁓ family rehab that in terms of people that have addictions, either on drugs or alcohol, there’s so many p people that ⁓ would like to keep their children

Cody Crabb (32:01)
Yeah.

Dan Vogler (32:26)
and ⁓ not lose their children in order to go into ⁓ rehab, whether it’s ⁓ court ordered or by their own ch choice of them or their family, that a family rehab, there’s only two of them in Texas and a waiting list. It makes ten thousand dollars a month for a family rehab or more. Somewhere between ten and thirty thousand dollars a month.

is what the nonprofits, the churches, the city, county and Fed ⁓ budgets for this, the insurance companies, the families that want to h h help their children and grandchildren out of this debacle and put through ⁓ re rehabilitation to reach sobriety. And it’s very lucrative, even at the low end of ten thousand a month, and there’s plenty of there’s a shortage of this, a waiting list.

Plenty of of entities from churches, insurance companies, and government entities wanting to nonprofits that want to pay for this. Well, if you can keep your children, people want to pay for that. A typical stay is three months with a waiting list, so there’d be a churn of of the tenants there. Operation cost is about five thousand a month for the psychiatrist and staff people for an inpatient rehab. There’s a

a lobby. They can’t just walk out down to the convenience store and buy a 12 pack. ⁓ so it it’s inpatient rehab. I mean it’s it’s not it’s it’s a it’s a healthy prison, if you will, to for force people into sobriety as well as keep your children. It’s a reason to get sober and go through rehabilitation. So ⁓ that’s a little far reach more far reaching, but here again a very unique lucrative

Niche with a

Cody Crabb (34:26)
Well, ⁓ yeah, those are some pretty interesting ventures. so if if those sound interesting to you, go ahead and reach out to Dan. I feel like that you’re gonna get some some people reaching out because it’s pretty that that as a portfolio is pretty interesting. I would say even diversified quite a bit. So it’s a it’s not your typical investment there. So for sure, reach out to Dan on LinkedIn like we s like we said. ⁓ Dan, anything else to add before we hop

Dan Vogler (34:51)
I’d be glad to share the details with people and ⁓ a as the paperwork comes together, ⁓ a a website and the structure of the fund. But ⁓ call me now and as an early investor you we can ⁓ strike some good terms, I think. I’m again proposing that eleven percent preferred return. So

Cody Crabb (35:12)
Awesome. Well, once again, thank you so much. And ⁓ and listeners, thank you as well. If you liked what you heard today, go ahead and give us a like, subscribe, comment, all those things, and make sure to follow Dan on LinkedIn and connect with him. ⁓ remind me one more time what was your LinkedIn?

Dan Vogler (35:26)
It’s my name Dan Vogler, V O G L E R or DanVogler.98 I’ve got two profiles on LinkedIn and I’ll I’ll pay attention to both of them for messaging.

Cody Crabb (35:39)
Fantastic. Well, once again, thank you so much and we’ll see you next time.