How to Build Lasting Wealth in Real Estate: An Expert Insights

Stephen S. (00:03.528)
Welcome to the show where we interviewed the nation’s leading real estate entrepreneurs. Welcome back if you’re joining us for a second, third or hundredth time and welcome to it. If it’s your first, you are in for a treat today. I have Sharon Butler in the studio with me and she is an absolute phenom. She has probably forgotten more about real estate and real estate investing than most people will ever learn. She’s helped 16,000 people get their license and we’re going to have a great conversation. So just remember.

At Investor Fuel, we help real estate investors, service providers, and real estate entrepreneurs, 2 5X their businesses to allow them to build the businesses they’ve always wanted, to allow them to live the lives they’ve always dreamed up. That being said, Sharon, welcome to the show.

Sharon Butler (00:45.336)
Thank you for having me. This is going to be a fun conversation.

Stephen S. (00:48.954)
I agree. I love your spunk just getting to talk to you a little bit We had some tech difficulties jumping on got that sorted out and and I’m really looking forward to getting into some meat here So before we before we kind of get started on on our topics for today though Just give people a little bit about your background and what got you into real estate and what’s got you to where you’re at now

Sharon Butler (01:10.702)
That is such a wild question. People always ask me, what made you know that you wanted to invest in real estate? And I have to say, don’t laugh, I was a paper boy. I was actually a paper girl. And my brother and I started working together when we were kids because in those days, they didn’t allow paper boys that were girls. So I used my brother as my business partner. We used his name. We started our newspaper route. And the thing that attracted me all the time

Stephen S. (01:30.974)
Hmm.

Sharon Butler (01:38.796)
was when you open up the Sunday paper and you see the real estate ads. And I’m just like, I want to buy a house. I’m like 10. I want to buy a house. And so when I was 18, I bought my first property.

Stephen S. (01:47.283)
Mm.

Stephen S. (01:51.036)
Wow, that’s incredible. So you at a very early age were already being resourceful and finding ways around challenges that presented themselves it sounds.

Sharon Butler (02:05.326)
Absolutely, and I think, you know, I really feel that your parents really need to gear you towards learning about money. I think we have a broken system in the fact that a lot of people don’t even think about saving their money. And, you know, I don’t know if you know that show, The Brady Bunch. Well, I was an extra on The Brady Bunch and every dollar I made went into my savings account.

Stephen S. (02:14.154)
Mm.

Stephen S. (02:24.649)
Yeah, absolutely.

Sharon Butler (02:30.89)
And every dollar I made as a paper girl went into my savings account. And then when I was 18, you back in 1979 or so, I literally had $25,000 to buy my first property. But the thing that I, yeah. Well, I mean, I knew I wanted to buy it when I was younger, but I couldn’t because I couldn’t get a contract. But the thing I see with other parents, like I had a friend that had, he had kids.

Stephen S. (02:42.206)
when you were 18.

Stephen S. (02:49.533)
Right.

Sharon Butler (02:54.446)
and at Christmas he gave them $100 and they knew every year they were getting $100 and they already had it spent before they even got it at Christmas and to me they should have been learning how to save that money so that maybe they could buy something when they turned 18.

Stephen S. (03:02.026)
Mmm.

Stephen S. (03:08.01)
Wow, that’s amazing. You know, it’s so interesting you say that. It sounds like we had very similar childhoods because I was definitely a saver growing up. And, you know, I went out when I was 10 and started knocking on doors to try to get mowing jobs. And I was the kid at six, seven, eight years old that would be, we’d be at a restaurant. Like I vividly remember being six or seven years old at a Chili’s one time and asking my parents like, hey, do you think the people that own this place are like millionaires or super rich?

no clue where it came from. I just had it ingrained in me. And then by the time I was 11, I had saved up enough between that first season of mowing like one or two lawns to then buy myself a riding lawn mower with my own money, like three grand at the time. And then I just flipped that into continuing to do more work. exactly. So.

Sharon Butler (03:38.99)
Yes.

Sharon Butler (03:55.79)
And that’s how you start flipping.

Stephen S. (04:00.062)
You know, it’s interesting because I started, you know, more so following some dreams when I was younger and I wish I would have found real estate or construction sales at 18 and not 25 when I finally found it and realized, there is more money in the world than most people realize. You just got to look in the niches. with your journey and wanting to buy a house,

Sharon Butler (04:19.352)
Really?

Stephen S. (04:24.946)
What was your thought process when you were about to buy that first house at 18? Like what were you thinking you were gonna do with it? Live there, flip the property? What were you kind of working through at that point?

Sharon Butler (04:35.416)
All right, so back in the early 80s, late 1970s, early 80s, they were still building brand new construction all over California. And I found the perfect place. I was engaged. I mean, back in those days, you got married young and you had kids young. I did the first part, I got married young, but I didn’t have kids young. And we were looking to get married and we wanted, I believe strongly in my heart that rent is throwing money away. It’s like take your cash, put it in the toilet and flush it and that’s rent.

And I knew I wanted to move out when I was 18 because at that time in my life, my dad and I didn’t get along very well. And so I’m just like, I’m gonna grow up, I’m gonna get married, I’m gonna definitely buy something before I get married, and I don’t wanna rent. So I never rented in the very beginning until I went through that divorce, that fun part. But I just knew that I wanted to buy. And so we watched the place be built. And then guess what happened?

Stephen S. (05:22.943)
Hmm.

Sharon Butler (05:31.02)
Right when it was done, we picked our flooring, everything was ready. Interest rates went from eight to 18 and a half percent. Now, in today’s day and age, we have people that are freaking out about buying something at six and a half, seven percent. And in 1980, we still went, I’m still buying. I still want to buy a property. I’m still not going to rent and throw money away. And we worked around ways to buy property. And that’s how creative financing came out.

Stephen S. (05:47.807)
Right.

Sharon Butler (05:59.436)
And creative financing was where sellers would carry back the money and you would find a way to get the money so that you could buy it. I mean, we still wanted to buy and it even got up to 27%. It was crazy. And we have people complaining about six and a half seven.

Stephen S. (05:59.934)
Mmm.

Stephen S. (06:09.556)
Wow. Now do you…

Do you think though that because properties were 30, 40, 50, maybe not California, but you your average family house for 80 grand 40 years ago at 12 % interest is a little bit different to chew than your average house being, 450 grand with 6 % now. Well, do you think that there was any factor to that or?

Sharon Butler (06:33.582)
this is true.

Well, the thing is, is what people don’t realize is, okay, my job that I was doing at that time, I think I was making maybe $3.85 an hour. So how much is the average person making now? I mean, it’s all relative. And that’s why when people go, well, I’m gonna wait. And I could tell you so many stories. I just did a deal where people asked me, how long is it gonna take me to find a house? I’m like, well, if you’re working with me 45 days, if you’re working with somebody else six months to a year, it just, it depends on how qualified they are.

So when you’re asking about the price, by the way, my condo that I fell out of escrow was 85,000. And when the interest rates changed, I was then qualified for 58,000. But I had $25,000 down. So I had the down payment. And I ended up buying something. This is something else I want to really make sure that people who are thinking about buying or investing, put in their head and keep it in mind.

Stephen S. (07:11.69)
Nice.

Stephen S. (07:21.29)
Mm.

Sharon Butler (07:31.202)
that you don’t have to buy. Like I was an escrow for a brand new beautiful condo with little streams and rivers running through. And then we ended up with this piece of crap condo that was built in 1960s. And it wasn’t even a condo. was an apartment complex that a developer purchased. And he changed them into what we call co-ops. And because in those days, I didn’t know as much as I know now, I didn’t know it was a co-op. I just knew that I was buying it. This guy was going to carry the papers and I was going to have it.

Stephen S. (07:56.788)
Hmm.

Sharon Butler (08:00.31)
until everybody tried to start selling them and we couldn’t sell them because with a co-op, you can’t finance it in California.

Stephen S. (08:08.532)
So what did you do? What was the creative solution to that?

Sharon Butler (08:08.622)
So I didn’t buy. Well, and the thing is, is people think they have to buy their perfect property the first time. And even if they don’t want to be an investor, they think they have to have the perfect property the first time. And really this condo that I still have, by the way, is not the perfect property. It’s a rental now. But you know what? You rent that one out and you get the next one and the next one. And people tell me they go, I don’t want to be an investor. OK, but how?

To me, my next question is how many kids are you gonna have? I always ask people that, how many kids are you gonna have? If you’re gonna have three kids, you should have three investment properties. Because that way, when they grow up, they can use that for college, or they can use that as their first stepping stone to get into a property. I’m all about trying to make sure that people know that, know, houses are only gonna get more expensive. Yeah, we may have a crash, but I really doubt that we’re gonna go that low that you’re gonna be able to just pick up property super cheap.

Stephen S. (09:05.866)
Yeah, that makes sense like fire sale or something along those lines. That’s really that’s really good advice about the Having an investment property per kid that’s super smart, especially for people to plan that out now. So one of the things that I Love it. So one of the things, know that we talked about in the beginning

Sharon Butler (09:19.054)
Thank you, I made that up myself.

Stephen S. (09:26.778)
before we even hopped on to record the show was we talked about how really what you love doing is teaching other people how to build wealth through real estate. So what are some of the ways that you’re actively doing that right now? I mean, I know you have a lot of focus on like even the retail side, looks like. mean, helping 16,000 people get licensed. Like, I don’t know anybody else that I’ve talked to who can say they’ve done it for that many people. But what are some of the ways that some strategies, tactics, tips that you

or where you even start with people.

Sharon Butler (09:59.342)
Well, the first thing I start with people, especially pretty much all the people I’ve helped, is the first thing people say to me, which totally blows my mind and they really got to get it out of their head, is the first thing I do is, because I have a mortgage background, I’ve owned a mortgage company since 1989. And having that, I think every real estate agent should know how to pre-qualify someone, at least the basics, come on now. And so…

Stephen S. (10:23.391)
Mm.

Sharon Butler (10:24.428)
I talk to my people on a Zoom call. Before they’re allowed to talk to me, they’ve got to get in front of them all their income, all their debt, so I can figure out and know in my heart what they qualify for. And it’s funny because when I tell somebody what they qualify for, the number’s usually a lot higher than what they want their house payment to be. And so then I’ll ask them, I’ll say, well, what did you want your house payment to be? And what cracks me up, it doesn’t crack me up, but I feel like, God, I wish I could get this out to the whole world.

and maybe starting with doing podcasts with people like you guys, you know, having the Stephen going out there and show everybody what you can do is you can’t expect your house payment to be the same price as your rent payment. Because people always say to me, well, you know, my rent’s, know, $2,500 a month. I don’t want it any higher than my rent. And so then my next question is, well, you do realize you get a ride off because what happens is, you know, here in the United States of America, how we do

mortgages or in California, we don’t do mortgages. We do trustees. But the thing is when you’re making your house payment and you’re paying your house payment over and over and over and over for the first eight to 10 years, you’re paying almost 70 % interest. I mean, you’re paying, you know, if your house payments $4,200 a month, you’re probably paying $4,000 a month towards interest. Now your interest is a tax deduction up to a certain amount. So if you look at it,

pretty much depending on how much your loan is, if it’s over 700,000, yeah, you’re not gonna write off the whole interest. But for the most case, you’re gonna write off almost all your interest, you’re gonna write off all your property taxes, and you’re gonna get a homeowner’s exemption. So when you look at those numbers, what I do is I send my clients over to their CPA or somebody that they trust that they can talk to and I say, look, if you look at the numbers, like let’s take the last family I did.

He said to me Sharon, I don’t want to go over $4,200 a month right now. We’re paying $4,000 a month rent We don’t want to go over 42 maybe 4400 at the most so I said to him This is what I want you to do. I want you to talk to a CPA I want you to let them know what purchase price you’re going at what kind of down payment you’re going at and then I want you to ask them how can I change my taxes because you can change your w9 on how many dependents you have

Sharon Butler (12:41.838)
And if you do that, you’re going to get more money now versus getting money back when you do your tax returns. Because their big issue is I don’t want my rent. I don’t want to go higher than rent because I’m comfortable with that payment now. So, but yes, if you change your taxes and your W9, you get more money now so you can pay for that house and you can balance it out instead of getting tax money back. And so he did that. He actually did it for me and my clients really do that. And he comes back, he goes, I can do $5,800 a month.

And from the time he said that to the time we closed escrow was 45 days. So they got moved in. His wife had a baby on Wednesday. They signed their loan documents on Saturday at the hospital and they’re working on the house now. And they thought they wanted the perfect house. Well, let me tell you something. You walk into their house downstairs and it looks like you fell into the 1960s. But you go upstairs and it was completely redone. And so they’re like, you know, we can make this work. And they got that house for under 800,000.

Stephen S. (13:16.97)
Wow.

Sharon Butler (13:41.76)
in a 850 neighborhood. you can, you know, a lot of people go, well, I don’t have our elbow grease. Well, a little bit of paint and carpet can do a lot.

Stephen S. (13:52.202)
Sure. Man, that’s amazing. So I think most people also don’t realize, and tell me if I’m wrong here, but most people don’t realize you can write off your home’s interest. Do you see that as being, and so like what’s the best way for people to actually start doing that? Maybe they’ve realized, I’ve owned a home for seven or eight years and I’ve never done that. What’s the best way for them to do that? Just get with their CPA or?

Sharon Butler (14:02.818)
They have no clue.

Sharon Butler (14:16.34)
I would say if they’re not writing it off, they might want to go back and honestly, I mean, honestly, if somebody owns a home and they don’t know that, they need to go back and do their amended tax returns because they’ll probably get some money back. I mean, that’s out of control. mean, I would think, you know, there’s so much that people don’t know they don’t know, which is so scary because I mean, when you’re talking about your money and you’re talking about the biggest investment in your life,

Stephen S. (14:27.242)
Right

Sharon Butler (14:41.29)
And when people talk to me also about buying a home and keeping it and renting it out and buying the next one and they say, I don’t want to be a landlord. And I’m like, okay, but why don’t you want to be a landlord? And they talk about all these myths. There’s so many myths because the other big, huge myth that I don’t know how to get that out of people’s head is I need 20 % for a down payment. I can’t tell you how many people I talk to where they say, we’re saving up to buy a house.

And I’m like, okay, how much do you have? One lady said to me, she goes, we have $120,000. I go, and when are you gonna buy the house? She goes, well, we need 20 % down, right? I go, I can get you a house with no percent down. And you have to look at the down payment assistance programs because a lot of people don’t understand. And that’s why when we talked a little bit earlier is people think that…

You know, I can’t move into the house until I fix it up, but that’s not true. And you want to move into the house first. You want to buy something. That’s why I eye pyramid. Eye pyramid from a house that makes sense for me to move into it go to the next one. Because if you buy something, like a lot of people go, well, you know what? We’re going to buy the house we want. And then we’re going to think about investing. OK, so you buy the house you want, you move in and you get a great interest rate. But now because you’re going to buy an investment property, it’s going to cost you one and a half points more on the cost.

and a half a percent more on the interest rate. Whereas if you buy the small one, live in it for a little while, you only have to really be in it for a year before you can refinance it, take some money out, rent it, and go on to the next property. How about that?

Stephen S. (16:15.646)
Yeah, 100%. Which, and you spoke about this a little bit ago as well about.

Sharon Butler (16:16.706)
So much to learn.

Stephen S. (16:23.782)
us having a better education surrounding money. For those of us that weren’t raised with parents that really talked about money, maybe it was taboo, maybe, you know, they just didn’t know what they didn’t know. Like, what are some of the best ways for people to start educating themselves on these types of things? Like, where should they even go? Because with all the information that we have that’s available nowadays, I think the hardest part is people actually finding information that actually is current, valid and works.

Sharon Butler (16:53.876)
That is a really good question because, you know, as you’re saying that, I’m thinking of all the places that I would learn it because, you know, YouTube is such a phenomenal place to learn stuff. The problem is, is you’ve got to find the people who aren’t throwing you a wad of crap.

And because I mean teaching real estate, you know, there’s other people that also teach real estate obviously, but I’m one of the few people that’s actually a real estate broker who actually does real estate, who actually does loans. And I’m up against people who have never sold a piece of property in their life and they’re trying to teach someone else how to do real estate, which is crazy. So, you know, those are people who, you know, what if you go out and they’re not really teaching you how to save money, they’re teaching you how to do some kind of investment deal. And to me, you know,

I hate to say pinching pennies, but I’m pretty good at saving money doing anything I can. One of the first things I would tell people is, you know, because I have a lot of friends of mine that have young people around them because my friends are young. And I sit there and I look at how much money they spend on going out to eat and buying stuff that’s fast food. And not only is it bad for you, but you’re spending like

10 times as much money. have this friend that was a college student and I showed him how to make quesadillas and he’s like, what do think that costs you to make the quesadilla? I’m like, maybe $2.30 at the most. He’s like, well, when I go to school and buy a quesadilla, it’s $12. I’m like, for the same thing? But I mean, I hate to say it’s common sense, but it’s not common sense. So you you got to start somewhere. And to me is, you know, search people out on the internet that are really have a good heart. But I also know for a fact that

I have a stepdaughter. I want to say I adopted her when she was 18. But anyway, her and her husband have their house paid off. They’re doing phenomenally. And where they got it is at church. Their church believes in being debt free, their church had a financial program, and they took it. And you never know where you’re going to find it. And the National Association of Realtors has a finance program, too. You just have to look for it.

Stephen S. (18:58.056)
Hmm. Yeah. Do you think most people were just bogged down with how much is available that they don’t take action because of that? Or why do you think people don’t take action?

Sharon Butler (19:06.39)
It could be that. Yeah, it could. Well, I think a lot of times they don’t take action because they just don’t have faith in themselves. I’m a big person about believing in yourself and motivating and being self-motivated. And I think you have to stop the little voice that’s saying no and listen to the little voice that says yes. Because sometimes, I mean, everybody has a little voice. I don’t think they all know it or they pay attention to it. But I listen to my little voice because when I don’t, that thing’s happened.

Stephen S. (19:16.586)
Mmm.

Stephen S. (19:35.528)
Yeah, 100%. I’m with you there. for in your experience, like how many like how should somebody look at their overall investment goals? Because I’m sure everybody’s is a little bit different. So like what your investment goals, maybe it’s owning and 100 properties free and clear by the time you’re retired. I don’t know. Right. But like, what does that look like for you? And what do you think the average family should be should be considering?

Sharon Butler (20:05.974)
Well, my whole thought when I first started doing this is I wanted three children. And I thought, okay, if I’m going to have three children, I’m going to have three houses. That way, you know, when they become 18, it’s their choice if they want to take the money out of the property and do a college education, or if they want to move into the property, maybe even fix it up and take money out and buy another one. And I could teach them how to pyramid. But I only had one son. And, and he ended up, we ended up being actually when they started the flip or flop show.

We were in line to be the people on Flip or Flop. It was us against Tarek and his wife. And unfortunately, they got the show that every time HGTV was about to lose them because of the divorce or when things were happening, we were like on standby to standby. But my son, he’s not really wanting to be on TV. So he’s like, yeah, I’m not really gonna be hanging out for that. I’m like, you’re no fun. You’re no fun.

Stephen S. (20:43.38)
No kidding.

Stephen S. (21:01.998)
That would have been amazing for you because you you had technically an acting background, right? I mean you were on the Brady Bunch as an extra how does that just happen because you’re does that just happen because of Where where you’re where you’re at in California or how does how did you get into all of that? I mean you’re also you were miss, California twice like who am I even talking to?

Sharon Butler (21:28.878)
Well, so, I don’t know how we, there’s a lot of casting calls and people don’t realize that if you’re with a legitimate casting company, it’s not that hard to get on TV if that’s what you really want. But my son, so when I started flipping houses, we started flipping, I fell into flipping houses because I was doing where,

Stephen S. (21:41.278)
Mm. Really.

Sharon Butler (21:50.678)
It was at a time where people were losing their homes. And I’m all about trying to keep, I’m all about trying to help people keep their home. I mean, if someone has a problem, I’m gonna tell them how to talk to their lender and I’ll get them a modification or a forbearance and figure out how they can keep their home.

Stephen S. (21:53.631)
Mm.

Sharon Butler (22:06.722)
Because the best thing, know, if you can’t do anything to keep your home, you can’t make the payment, rent it out, go live with mom and dad for a while, and let the renter make the payments for a while. There’s always an option. And you know, it kills my heart. Like, I just got a call the other day, somebody I was gonna help, I set it all up, I’m like, hey, you know, this is how you could do it, this is you could structure it. You could actually sell your home to your son-in-law, and they can live in it for a while, or rent it from you and save the house. He was losing his house because he lost his business because of health problems.

And he’s like, okay, yeah, I’ll let you know. His girlfriend called me the other day and they just lost the house. And I’m just like, I cannot believe in today’s day and age that they would lose the property. And so to me, you just, you have to know the right people to help you. But, you know, with getting into the flip and flop thing, we had fallen into it because I had somebody who they were losing their house. And I’m like, well, do you want to sell it or do you want to keep it? Because if you want to keep it, I’ll figure out how to get you.

First things first, a modification or a forbearance. And then if we can’t do that, then we can short sale it. And so I was like the short sale queen in the day. And so I short sold it and I asked her if she felt okay if I could buy it. And she’s like, yeah, so I bought it and that was my first flip. So we got it for like 172. I know that’s crazy, right? And she know, 172, we put about maybe $12,000 into it and we sold it for almost 300 grand.

Stephen S. (23:33.288)
wow. That’s a… Yeah.

Sharon Butler (23:34.006)
Not bad for the first one. So with Flip or Flop, what happened there was they kept asking, they didn’t tell us it was called Flip or Flop. And so they kept asking us when they’re interviewing you to try to do the show, they’re like, what do you guys do if you flip a house and it flops? And I’m like, why would we flip it if it’s gonna flop? Unfortunately, I didn’t know the show was called Flip or Flop because we don’t flop. And they didn’t think we were gonna have enough drama. But what you have to realize, I was flipping with my

literally 16 year old son. He was doing the construction and I was finding the houses.

Stephen S. (24:05.737)
Yeah.

Right, that’s amazing. Wow.

Sharon Butler (24:10.508)
And let me tell you, we have drama. He argues with me like husband and wife. And he has never called me, he has never called me mom. He’s called me Sharon from the day he was born.

Stephen S. (24:20.35)
That is hilarious. my goodness. Well, so let me ask you this. If you had to go back to the beginning of everything, you’re 18, about to buy your first house, but you were able to take all of your experience, insights, wisdom, failures that you’ve gained today, if you could take all that back to the beginning, what would you do different and what would you do the same?

Sharon Butler (24:40.29)
really don’t want to say that I, really, I mean, what would I do? I’ll tell you exactly. Now that you let me think about it, I would not have let my son’s father let me sell that last house. Cause I had, when I moved to where I’m at, I’ve, bought a house for 149. That was 1600 square feet, three bedrooms, two and a half baths. I owed 90,000 on it. And he told me, well, if you want to buy the next property, you have to sell this one. And I was already used to keeping one in.

Stephen S. (24:51.976)
Mmm.

Sharon Butler (25:09.634)
you know, keeping it, renting it out, keeping it and renting out. And he didn’t want to be a landlord. So I would not have listened to other people, you know, whether it’s my ex-husband or whoever it is, I would have stayed on track and kept buying and selling. I probably would not have, and I know a lot of people might want to be interested in it. I probably would have not started investing out of state. As much as California is difficult on landlords, I would not have bought in Texas.

Stephen S. (25:33.514)
Hmm.

Sharon Butler (25:38.72)
I would not have bought in other states where they don’t have the same type of mortgage as we have.

Stephen S. (25:44.19)
Yeah, that makes sense. Well, Sharon, thanks so much.

Sharon Butler (25:45.932)
I mean, yeah, it’s cheaper to buy. It’s a lot cheaper to buy in other states, but you get what you pay for.

Stephen S. (25:53.414)
Right, for sure. Well, Sharon, thanks so much for being here. If people want to connect more with you, see what you’re working on, learn more about you, where should they go for that?

Sharon Butler (26:03.898)
my God, that’s so easy. So I’m all over social media. I have a YouTube channel called Making Money in Real Estate with Sharon Butler. And I put my phone number out there all the time. My business partner, she’s like, I can’t believe her phone number’s out there floating around. I’m like, yeah, to me, here’s one thing that I definitely want to mention is I see people take these classes. Have you ever seen those signs on the street that are yellow with the black writing and it says, work with an investor?

Stephen S. (26:32.988)
yeah.

Sharon Butler (26:33.784)
To be able to do those classes, they’re like $2,500 a piece. Why would you spend $2,500 when you could just hire someone like me to teach you step by step? That’s my best advice. Don’t pay for a class. Find somebody that you can work with that’s going to help you and teach you so that you can go on your merry way.

Stephen S. (26:37.492)
Mm-hmm.

Stephen S. (26:52.99)
You bet. Well, you heard it here first, folks. Everyone, I hope you enjoyed today’s show. We’ll see you in the next episode.

Sharon Butler (26:58.978)
Thank you.