Accredited VS Sophisticated Investors: What This Means for Multifamily Real Estate Investors!

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VIDEO TRANSCRIPTION

00:00
he might he’ll show up 20 minutes late
00:02
come on man you’re slacking on us
00:04
look forward to seeing you next month
00:05
though buddy you know secret x that’s
00:07
coming down the pipeline very true
00:08
you know going to be our first big trip
00:10
well we’re going to florida but that’s
00:12
you know still stateside so
00:14
international trip that i’ve done in
00:16
probably
00:17
what two years three years wait florida
00:19
but you’re talking about costa rica yeah
00:20
for secret acts it’s gonna be my first
00:22
international
00:22
oh sorry for two to three years so you
00:25
know
00:26
i don’t know if they have any more spots
00:27
left but you guys should check it out
00:28
good time a lot of great people
00:30
um great content too you know but we
00:33
ultimately have a good time with a lot
00:34
of good people
00:34
i’m looking forward to so talking real
00:36
estate again man
00:37
what are we talking about today my gosh
00:40
something that i think both
00:42
passive investors and syndicators need
00:44
to understand right the difference
00:45
between accredited
00:46
versus sophisticated investors something
00:48
there’s a lot of misinformation about
00:49
there too
00:50
there’s a ton of things that make their
00:51
own assumptions on it’s really not that
00:52
complicated and things and things are
00:54
starting to change
00:54
which we’ll kind of get into here in a
00:56
bit right what does this mean for people
00:58
that are trying to do
00:59
and we we always steer everything
01:00
towards multi-family but this
01:02
goes for any investment right anything
01:04
that has a ppm
01:06
i’m going to get into why knowing if
01:08
you’re sophisticated or accredited is
01:09
important or knowing if your investors
01:11
are
01:12
is even more important because you can
01:13
get in some hot water so let’s hop right
01:15
into this thing
01:16
what is an accredited investor man the
01:18
credit investor is basically
01:20
you know defined by the acc right it is
01:23
someone that the sc deems a someone that
01:26
can
01:26
really knows they can take the risk of
01:28
investing that’s probably the best way
01:29
that’s the best way to boil it down risk
01:31
they are you know they are someone that
01:32
the sc says is allowed
01:34
to go take a risk in investing in
01:36
something right they are accredited they
01:37
have
01:38
experience and the gusto to be able to
01:41
lose
01:42
not necessarily experience no no no not
01:44
only that kind of experience but
01:45
ultimately you know the experience of
01:47
investing right and to be able to take
01:48
on the risk that comes with that
01:50
yeah so you know sec is just trying to
01:52
protect investors that’s sec a big part
01:54
of their job is protecting investors
01:55
yeah that’s why they have this that’s
01:57
why guys like us can’t take money from
01:58
just any yahoo yeah right so there’s
02:00
certain rules that you have to follow
02:02
and so so the one thing to kind of add
02:04
to that right you know they define
02:05
certain criteria that’s going to make
02:07
somebody an accredited investor
02:09
versus a sophisticated which we’ll get
02:10
here in a minute right but accredited
02:12
investors usually 200 000 plus
02:15
an annual income for the past two years
02:18
and your expectation is that you’re
02:19
going to be able to make that much
02:21
this year as well right um if you have a
02:23
spouse i think it’s 300k
02:25
right you know and then the rules change
02:27
this year too well i was going to get it
02:28
so right you know so then or your
02:30
individual net worth exceeds one million
02:32
right excluding your primary residence
02:34
now what ferrous kind of alluded to is
02:37
that the sec knows that these
02:38
these rules and regulations are a little
02:40
bit antiquated
02:42
right some of this stuff dates back to
02:43
1939 i think is the law that we have to
02:46
that we have to kind of um look out for
02:48
right which was obviously enacted after
02:50
the crash
02:51
that happened back in the late twenties
02:52
and a lot of unsophisticated and and
02:56
it wasn’t people it was in an orange
02:57
farm something it was something like
02:59
a potato farm in florida yeah you know
03:01
and i don’t remember the case though
03:03
see luckily uh you know between the two
03:05
of us i am the attorney here
03:06
they want to be attorney and so
03:08
basically a lot of investors lost their
03:10
money due to a drought
03:12
they you know went to court they didn’t
03:14
understand
03:15
their basically we didn’t realize that
03:16
there was that risk yeah so then that’s
03:18
where these rules became
03:19
yeah so a lot of that kind of came about
03:21
but if you can imagine 1939 folks that
03:22
was a long time ago
03:24
so the sec over the last couple years
03:26
and we always encourage people
03:27
reach out to an sec attorney you know
03:30
dugan kelly
03:31
merrill callister gene trowbridge all
03:33
three of those guys are great guys
03:35
mauricio
03:36
um as well you know they all know their
03:38
stuff you need to ask them these
03:40
specific questions but we’ll just kind
03:41
of give some
03:42
you know some high level information of
03:44
what we know right
03:45
sec solicited some feedback
03:48
from them included as well as other
03:50
people to see how can you
03:51
update these rules uh for the the
03:55
i guess the world that we live in right
03:56
now right you know there’s a lot more
03:58
information people can get educated a
04:00
lot more easily now because of the
04:01
internet
04:02
and so i know one of the rules that
04:03
they’re talking about rolling out
04:05
is if you take a test right you can
04:08
become accredited yeah right now i don’t
04:10
know what that test is going to entail
04:11
how long or how complicated it is but
04:13
that’s one of the ways where
04:15
you know maybe you don’t have the
04:16
wherewithal that would make you
04:17
accredited
04:18
but you have the knowledge to understand
04:20
the risk that you’re taking on when you
04:22
get into an investment that’s that’s for
04:23
credited investors only does it go the
04:25
way around if you are if you have the
04:26
wherewithal to be accredited then you
04:27
fail if you flunk the test do you lose
04:29
your accreditation
04:30
oh actually that’d be an interesting
04:32
concept you know i mean
04:33
and we know a lot of accredited folks
04:34
and you know i mean
04:36
some of them are very very polished and
04:37
know their stuff and some of them
04:39
not so much right and so you know i
04:42
think they’re trying to solve that one
04:44
problem which is
04:45
you know somebody that might be worth a
04:46
hundred grand might know more than
04:48
somebody that’s worth
04:49
200 million right you know i mean
04:51
because they just understand the
04:52
investment that they’re getting
04:53
themselves into right
04:55
so that’s accredited right and when does
04:56
that come into play right we have ppms
04:59
we’re selling shares of an llc right
05:02
and as part of that we have to file
05:04
certain paperwork with the sec
05:06
so it’s either under a reg d 506 b as in
05:09
boy
05:09
or 506 c is in charlie if it’s a 506 c
05:13
i can only take on accredited investors
05:15
right and i can take on as many as i
05:17
want i can solicit it i can
05:19
pitch it on this show right you know i
05:21
could put a billboard out on the highway
05:22
if i wanted to right
05:24
that’s for 506 c and i’d say maybe one
05:27
or two percent of all the offerings are
05:28
506 at this point right it’s very very
05:31
it’s newer and um there’s just not as
05:34
many people doing them
05:35
right 506 b is what the majority of us
05:37
do right and i’d say we’ve done what 10
05:39
deals
05:40
eight of them have been 506 b’s two of
05:42
them been 506 c’s
05:44
and we’ll i’ll get into that in just
05:45
here in a minute right but 506 b
05:47
means that you have to have um a
05:50
pre-existing relationship with the
05:51
investor
05:52
right then they fill out a questionnaire
05:54
and they self-accreditate
05:56
if they’re accredited or if they’re
05:57
sophisticated they’ve got to check one
05:58
of the other boxes or maybe both
06:00
right if they’re an accredited person
06:02
yeah so that’s how
06:03
what does pre-existing mean so
06:05
pre-existing there’s a lot of
06:07
a lot of misinformation out there about
06:09
that too right you know
06:11
it was like you know we’ve heard stuff
06:12
for you you have to have three touches
06:13
with the person
06:14
you have to have done had a phone call
06:16
and an email follow-up all this crazy
06:18
stuff right
06:18
but you know i mean it could be one of
06:20
it could be a phone call it could be an
06:22
email exchange
06:22
it could be you know you met him at a
06:24
conference right you need to be able to
06:27
tie back that you had met this person
06:29
prior to getting under contract on the
06:31
offering yes right
06:33
so say we have an offering right now
06:35
right and i wanted to raise money
06:37
through a 506 before i would be pitching
06:39
to you guys i can’t do that
06:40
but if somebody called us up and said
06:43
hey i want to invest in your latest
06:44
offering you went to a conference and
06:45
you ran into someone can you tell them
06:46
about that deal if you’re
06:48
no if you’re on fire he wasn’t existing
06:50
you have the deal opportunity going that
06:51
guy you might have met him at the
06:52
conference
06:53
if you would have gotten if you’d have
06:54
met the guy two days prior yes
06:56
pre-existing
06:56
it’s pretty much after so so you that’s
06:58
the i would say if you if you get
07:00
anything from today’s show
07:02
realize that a 506 b equals pre-existing
07:04
relationship
07:06
right you know and also 506 b there’s
07:07
there’s one other hurdle that you have
07:08
to
07:09
you can only take on 35 sophisticated
07:12
investors
07:13
you can have as many accredited
07:14
investors as you want right so if you
07:16
have a big raise
07:17
and majority of your investors are not
07:19
accredited you have to realize that
07:21
you can maybe run out of those
07:23
sophisticated spots and we track this
07:25
pretty frequently
07:26
the majority of our investors once again
07:27
are accredited but i’d say 20
07:29
are still sophisticated and you have to
07:31
keep track of that stuff right
07:32
you know because once again i’m selling
07:34
shares of
07:36
a company and i’m not a licensed broker
07:39
to do that so then you have to fall
07:41
within these sec regulations
07:43
that kind of are dictated by the 506 b
07:45
and 506 c regulations right
07:47
so sophisticated investors
07:50
right and this one’s probably not as
07:52
straightforward as an accredited one
07:54
because
07:54
at least the accredited one has like
07:56
some you know some uh some numbers to it
07:58
and you can kind of understand a little
08:00
bit more about what they’re trying to
08:01
get at right
08:02
sophisticated is essentially anybody
08:04
that can
08:05
prove out that they understand investing
08:08
they understand real estate if that’s
08:10
what you’re selling to them
08:11
and they understand the risks involved
08:13
in getting into this again the sec is
08:15
all about
08:16
reducing risk for investors right trying
08:18
to avoid investors losing their money
08:21
and so accreditation is one thing but
08:23
then you have a lot of people that’s
08:24
like well
08:24
i know 10 times more than the guy that’s
08:26
investing in the department i might work
08:28
in the apartment industry i might you
08:29
know
08:30
whatever i might have a company that
08:31
rehabs them and i understand the ins and
08:33
outs our property managed any of those
08:34
things right
08:35
well you know guess what you probably
08:37
know actually a lot more than the
08:38
accredited yeah that’s investing you
08:40
might so arguably who’s the riskier
08:41
investment now
08:42
i would say the guy that’s you know
08:44
throwing money into it because he’s
08:45
probably going to lose that money
08:47
compared to how much you understand and
08:48
so that’s where hopefully
08:50
hopefully doesn’t lose any money but you
08:51
know that’s where the sophisticated
08:52
investor concept comes about
08:54
right yeah someone that can you know
08:55
show that they are sophisticated
08:57
they might not have the net worth or the
09:00
you know income to
09:02
qualify as accredited right but they do
09:03
have the knowledge and the gusto
09:05
yeah yeah so once again the sec i think
09:07
is is realizing that that
09:09
that they are essentially the accredited
09:12
you know
09:12
um bar is pretty high for a lot of
09:14
people and so they’re trying to open up
09:16
some of these alternative investments
09:18
for
09:18
people that are not million dollars or
09:20
more net worth right there’s not
09:22
there’s not very many people out there
09:23
that are and so but maybe you have
09:26
50 100 grand 200 grand sitting in your
09:28
ira and you want to invest that
09:30
well if it’s a 506 c you’re not going to
09:32
be able to until maybe they rejigger
09:34
some of the these laws and these
09:35
regulations right so
09:36
i’m a big proponent of that i think that
09:38
there’s a lot of changes that need to be
09:39
happening
09:40
um you know and i’m glad that the sec
09:42
has taken note of that and
09:43
and hopefully over the next 12 to 24
09:45
months you’ll see some of that roll out
09:47
right
09:47
so bottom line sophisticated investor
09:50
knows what they’re getting themselves
09:52
into
09:52
understands investing understands real
09:54
estate and understands the risk
09:56
of getting into this investment and and
09:57
can ultimately attest to that on the
10:00
questionnaire that you’re going to
10:01
provide to them right
10:03
so why is accreditation important to
10:06
multifamily
10:07
right you know i think one thing that we
10:09
want to talk about is
10:10
you know on the 506c versus 506b
10:14
right on the b once again you could do
10:17
the unlimited number of accredited
10:18
investors
10:19
um versus the 35 non-accredited you know
10:22
so you need to understand that number
10:25
so please can keep that in the back of
10:27
your mind when you’re raising money and
10:28
as we’re raising money we do check it
10:29
you know we do it down the you see how
10:32
many sophisticated you know this is it’s
10:33
only really a problem for bigger races
10:34
yeah right you might be raising 15
10:36
million dollars and now the 35
10:38
you know sophisticated slots are
10:40
actually worth a lot more
10:41
right so maybe you know you might i’ve
10:43
seen deals where they say you know what
10:44
for sophisticated investors the minimum
10:45
is 100 000.
10:46
yeah because you only have 35 slots
10:48
right versus maybe for an accredited
10:50
they’ll accept 75 because those are
10:51
unlimited slots so something to think in
10:52
mind
10:53
you you definitely so that’s important
10:54
right when you’re getting into
10:56
can i do this deal how big is the
10:58
capital raise going to be
11:00
you need to understand that that could
11:01
you get jammed up on that right
11:03
the other thing that you need to kind of
11:04
keep into consideration is that you’re
11:06
filing paperwork
11:07
in every state that you’re taking
11:08
investors from right called blue sky
11:10
filing laws
11:11
right and once again a good sec attorney
11:13
will help you do that
11:14
that’s part of what their fee is going
11:15
to do but you’re going to have to
11:17
provide all of this paperwork right so
11:19
you’re going to have to provide the
11:19
exhibit a
11:20
which outlines you know um you know who
11:23
the people are
11:24
right how much they’re investing how
11:26
many shares they bought and then
11:28
ultimately you know you’re going to have
11:29
to you know do we get
11:32
jammed up here we’re good all right well
11:35
all right i don’t know what was going on
11:37
shannon all right anyway what was i
11:40
talking about um
11:42
you know you need to understand that all
11:44
of that’s going to get filed with the
11:45
sec
11:45
right and then your lender is going to
11:47
ask for the same thing right give me a
11:49
roster of all your investors
11:50
give me the signature pages and then
11:52
ultimately they don’t care as much about
11:54
if people are sophisticated or
11:55
accredited
11:56
but the sec does so you need to be able
11:58
to keep up with this and track all that
11:59
information right
12:00
yep so i blew through that pretty quick
12:04
man well it’s a pretty easy topic right
12:05
yeah
12:06
something people asked about and figured
12:07
hey we’ll dedicate a show to it but
12:09
yeah no it is it’s very important to
12:11
understand because
12:12
one of the things that you have to you
12:14
have to really abide by and this is why
12:16
we always suggest
12:17
if you’re going to do what we do which
12:19
is raising capital that you do it with
12:21
the right attorney don’t get
12:22
your brother’s you know wife’s you know
12:26
cousin to draft up a ppm because he
12:28
thinks he can do it right get somebody
12:30
that does
12:30
and lives and breathes this stuff every
12:32
day because otherwise
12:34
you might get jammed up and you could
12:35
have a lawsuit on your hands
12:37
right the sec could slap your hand and
12:39
maybe even send you to jail
12:40
so you need to do it the right way yep
12:42
so so if anyone has any comments
12:44
questions we do the money monday we do
12:46
this every monday 3 30 central
12:48
spend the first 15 20 or 10
12:51
minutes talking about the topic uh you
12:53
know this week we’re talking about
12:54
sophisticated as credit investors
12:56
and then we spend the last 10 minutes q
12:57
and a so if anyone has any comments
12:58
questions
12:59
go ahead and leave them we will answer
13:01
them live i’m going to go i’m going to
13:03
go through one i’ll take it a little bit
13:04
step further right
13:05
you know so we talked about a ppm right
13:07
private placement memorandums
13:09
right now we’re in real estate so you
13:11
see a lot of ppms there when you’re
13:13
trying to raise capital from
13:14
other investors other than yourself
13:15
right you know on top of the ppm you’re
13:18
gonna have a subscription agreement
13:19
right the subscription
13:20
agreement is a document between you and
13:22
your investor where you’re selling
13:24
shares to them right you know and your
13:26
counter signing and everything else
13:27
then you’re gonna have a company
13:29
agreement the company agreement’s gonna
13:30
list out what you can do within the llc
13:32
is their voting rights can you can
13:34
somebody can you whatever
13:36
it’s all going to be listed in the
13:37
company agreement right and then on top
13:39
of that if you’re doing a 506b
13:41
you’re going to have the questionnaire
13:42
which i alluded to earlier right
13:44
the questionnaire is what’s your net
13:46
worth how much
13:47
you know experience or knowledge do you
13:49
have and this and that
13:51
it’s usually 20 or 30 questions a couple
13:52
pages not too long
13:54
right and we keep that on file in case
13:56
we ever get audited or anybody who ever
13:57
wants to know
13:58
you know were you tracking this
14:00
information right you know and in that
14:02
case
14:02
an accredited person can just check a
14:04
box and say i’m accredited sophisticated
14:06
person can just
14:07
check a box and say they’re
14:08
sophisticated and you know as long as we
14:10
file that and we keep that on hand
14:12
throughout the investment we’re
14:13
we’re in compliance with the sec now if
14:16
you’re doing a 506c
14:17
it’s a little bit different right
14:19
there’s no longer the self-accreditation
14:21
stuff right you have to have a third
14:22
party
14:23
verify the accreditation of your
14:25
investor which this is one of the
14:27
reasons why most people don’t do it
14:29
because
14:29
yeah it’s a lot of work it is it’s kind
14:31
of a pain um that might be the
14:33
understatement
14:33
um so you have to send them to and i
14:35
think we use verify investor
14:37
is what the one the company that we’ve
14:38
used in the past so not too bad
14:41
but that is bad on our side but pretty
14:43
bad on your investor’s side
14:45
they have to upload a lot of stuff they
14:46
have to prove a lot of times we have
14:47
some investors that are extremely high
14:49
net worth and they’re like what the heck
14:50
guys i don’t know why
14:51
i’ve been in five of your deals you need
14:52
me to go do this extra step now yeah so
14:54
it’s it’s we’ve paused whenever we
14:57
thought well are we going to do 506c on
14:58
this right
14:59
and so one of the other things that
15:01
actually has come out with the sec is
15:02
also
15:03
i think meryl calsar had mentioned this
15:05
um you know
15:06
if you had been accredited or
15:08
self-accredited you know
15:10
through that same group over the last
15:12
two years
15:13
then you don’t have to do it again right
15:15
you know so say you’re investing five or
15:17
six different times with the same group
15:18
they’ve already verified your
15:20
accreditation at one point
15:22
that lasts for two or three years from
15:23
what i remember right so
15:25
but bottom line that process can be
15:27
friction right any friction that goes
15:29
along with the
15:30
capital raising process can sometimes
15:32
you know people might say yeah i’m out
15:33
i’m going to go to something that’s a
15:34
little bit easier i just want to check a
15:35
box versus having to
15:37
upload my personal financial statement
15:38
my bank statements and everything else
15:40
right
15:40
it takes time so you need to understand
15:42
that so the 506 c
15:44
people think it’s all sexy because you
15:45
can talk about it online right but i
15:47
would say that
15:48
sometimes the the that friction
15:50
outweighs the benefits of doing it that
15:52
way
15:53
right so something to take into
15:54
consideration but those are the
15:56
documents that you’re going to be
15:57
dealing with and that’s what’s going to
15:58
be the the transaction between you and
16:00
your investor right and then ultimately
16:02
after they get the paperwork done
16:03
you file that with your your attorney
16:05
they wire transfer the money
16:06
boom bam boom that’s really all the
16:08
passive investor has to do i agree
16:10
so so what else questions anyone have
16:12
any comments questions they have the
16:13
comments questions go ahead and leave
16:15
them we will answer them
16:16
this was a pretty easy one no it was a
16:19
little bit easy
16:21
i can’t believe nobody has any questions
16:22
where’s ronnie because people
16:24
ronnie said what’s up guys what’s up
16:26
ronnie that’s all i
16:27
know he said what’s up let’s see let’s
16:30
see let’s see so
16:31
okay so someone asked between 506c and
16:34
506b what do you recommend for a first
16:36
time investor
16:36
506b most people for the first deal
16:40
they do friends and family yep right and
16:43
guess what you don’t want to go to your
16:45
uncle steve and say hey
16:47
i need you to fill out this net worth
16:49
requirement and go ask your cpa to
16:51
yeah i mean it’s a lot of work right
16:52
yeah you’re probably tapping into
16:53
friends and family right and you’re
16:54
probably not everybody in your sphere is
16:56
accredited no and that’s so you want to
16:58
start off that’s
16:59
probably the harder thing too actually
17:01
you brought up a good point right bring
17:02
up
17:02
plenty of good points they’re doing a
17:04
good job today man so all right so
17:05
instead of having the third party
17:06
accreditation company do it verify
17:08
investor
17:09
you can also have your cpa or your
17:11
lawyer attest
17:12
to your accreditation status as well
17:14
right so they’re literally drafting a
17:16
letter
17:16
and they’re saying you know so-and-so
17:18
and uh you know investor is worth
17:20
whatever and is accredited per the sec
17:23
regulations and then they sign off on it
17:24
right
17:25
we actually have more people do that
17:27
than probably the verify investor
17:28
because it’s just
17:29
obviously a lot less painful but once
17:32
again you got to plan for that so if
17:33
you’re starting off
17:34
do the 506b that opens up those 35 slots
17:37
and i think as you as your first capital
17:39
raise you’re probably going to need
17:40
those people to invest with you
17:42
you know um so something to keep into
17:44
consideration
17:46
so what else man if nobody has any
17:48
questions let’s
17:49
move on man you know let’s go to the
17:51
toolkit just keep going oh
17:52
new and improved tool kits what are we
17:55
going to disrupt equity.com
17:57
toolkit oh my god
18:00
right back of the envelope calibrator
18:03
right so kind of helping just really
18:04
simplify
18:05
you know we do a lot of back in the
18:06
napkins i call it the back of the head
18:08
now
18:08
so i’ve got that memorized because i do
18:10
uh pretty much very mentally can kind of
18:12
get an idea of a deal is going to work
18:13
out or not right
18:14
and then also a breakdown on just
18:16
indicators right in their fee structures
18:18
like how does indicators get paid so
18:20
you know there’s a lot definitely
18:22
continue to check it out yeah i mean
18:23
we’re constantly updating this shannon
18:25
does a great job
18:26
each month it feels like two or three
18:28
times she’s updating this thing so
18:29
it’s going to have our webinars it’s
18:30
going to have our podcast as well so
18:32
you’re going to get a lot of content
18:34
and we’re not selling anything so just
18:35
checking out disruptequity.comtoolkit
18:38
you can see what all we got to offer
18:40
love to have you guys download
18:42
that so what are we talking about next
18:43
week man walking through
18:45
our multi-family investment criteria
18:49
so ultimately what do we look for in
18:50
investment right what are the criteria
18:52
what are the things that get us excited
18:54
about a deal and not so excited about a
18:56
deal
18:56
yeah no it’ll be kind of it won’t be
18:58
necessarily underwriting which i think
19:00
we’re going to do some more underwriting
19:01
that seems to be some sort of stuff that
19:02
people have been asking us about
19:04
so over the coming weeks we’ll be doing
19:05
some more underwriting stuff too right
19:06
but
19:07
this is usually this is going to be what
19:09
is our box right you know
19:10
why do we think a deal is sexy versus
19:12
not
19:14
and once again it’s all in the eye of
19:15
the beholder our deal might not be sexy
19:17
to you and your deal might not be sexy
19:19
to us
19:19
right you have to realize that
19:21
everybody’s you know investment criteria
19:23
is going to be different
19:24
but we’re going to share to pop the hood
19:27
kind of share what that’s all about with
19:28
uh
19:28
with our our viewers here and you know
19:31
let you guys ask some questions yeah
19:32
what’s up so any more comments questions
19:36
you can talk about anything it doesn’t
19:38
matter we’re talking about real estate
19:39
being able to win
19:40
once you know going twice hey guess what
19:43
i get some more time back to go lock out
19:45
emails
19:46
we’re going to stay on for at least
19:48
another 5-10 minutes and just sit here
19:49
and stare at the screen
19:50
that’s what ben likes to do with his
19:51
life um you know so
19:53
we’ll let him stare at these screens
19:55
behind us and kind of enjoy himself
19:56
there
19:57
no but you know hey we want to add value
20:00
to everybody
20:01
so you know this is an interactive if
20:03
you want to if you want to know about a
20:04
topic you want us to cover something in
20:06
the future
20:07
dump it in the the comments we’d also
20:08
love a share or
20:10
you know just a like you know in general
20:12
you know but yeah
20:13
yeah all right well then going once
20:16
going twice and then we will call it a
20:18
day
20:18
money mondays every monday 3 30 central
20:21
and we look forward to seeing you guys
20:23
next guess what day
20:24
monday monday oh my god what time are we
20:26
going to see them next week i think it’s
20:27
3 30 3 30 central
20:29
see you guys

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