Disclaimer: Transcripts were generated automatically and may contain inaccuracies and errors.

---

Of course, there’s always reason for concern and uncertainty. When a new administration comes in, you don’t know what you’re gonna get. But if I look at historically who we are as people, who we are as Americans, how these things have worked, uh, for decades and decades and even centuries. I don’t see a huge cause for concern and for me, it doesn’t interrupt my ability to say, Let’s keep moving forward.

Let’s keep investing in real estate because it really is the way that Americans generate wealth. What would your life look like if you could replace all of your working income? With simple and conservative investments that could do it for you. Over the last 13 years, we’ve helped thousands of clients transact over half a billion dollars in simple and conservative real estate transactions, allowing them to begin replacing their work income with real estate investment income.

Each week we’ll be pulling back the curtain on the ins and outs of real time retirement based real estate transactions that will transform your financial future even if you have no real estate experience. This is Replace Your Income with me, Kevin Clayson and Steve Earl.

All right, everybody. Welcome to Replace Your Income with Kevin and Steve. Steve, What’s up man? How are you? Hey, I’m doing well. It’s good to see you here today. Oh man. Well, I’m excited for this episode. We were actually planning on doing an entirely different episode, and so thank you everybody for tuning in.

Like always. We are so thankful that you’re here. We hope you had an amazing and wonderful Christmas holiday. And, uh, we, Steve and I, we were just talking. We had a totally different episode plan for the, I gonna ask you, So what did you get for c. You know what? All I got for Christmas was my two front teeth.

Is that it? Yeah, that’s right. Yeah. I wanted a hippopotamus for Christmas. Um, only a hippopotamus would do, but I got my two front teeth, so I’m pretty excited about that. Yeah, I’m glad to hear

lump. There was this lump of coal in my stocking. I dunno what that was from. Um, but who knows? I guess, uh, maybe if I put it under enough pressure. Somebody’s trying to give me a diamond. I don. I dt know what’s going on, but, uh, I imagine how, how was Christmas for you, man? Was it good? Oh, it was fantastic.

Ate way, much

one of those re spins. Oh, I’m off all these calories and, uh, it’s, uh, it’s gonna be great in the shape here. My upcoming New Year’s resolution is to put on more weight, you know, because I feel like why should we limit a good thing? Do you know what I mean? And weight comes from yummy food. So why limit good?

You know what I mean? I am trying to have an abundance mentality. Yeah. If we can have more of you, that would be a good thing. Good. Yeah, that’s good. Appreciate that. Well, anyway, we hope everybody had an awesome holiday and we were talking, Steve, we were gonna do this entirely different episode today, and then I, I’ve had like three.

Conversations with clients and prospective clients today, and they were all kind of expressing similar concerns. And, and, and we were talking about similar things. And so I said, Steve, maybe we oughta just jump on and have a discussion. And so in the spirit of full disclosure, you guys, thank you for tuning in and listening.

What Steve and I don’t really know where this conversation’s gonna go, we just know that there are things that are likely on your mind. There are things that are on our mind and. Things have to do with an incoming Biden administration with a, with a Georgia runoff election that’s coming up here to kind of decide who’s gonna take the Senate.

And while we’re not gonna get political, we kinda wanna say, look, the politics, politicians, administrations do have an impact to a certain extent on the real estate market, on the financial market. And, and that’s the what I was hearing from people today. So Steve, I talked. Three different, uh, three different prospective clients today.

And as you know, I get a chance to talk to people as they’re thinking about looking at our company, and we just answer questions and give ’em all kinds of good. And they were all going, they were all, you know, probably more on the, on the like Republican side of the coin. Right? And so maybe they have a little bit more of a concern, uh, with an incoming Biden administration than maybe some of our listeners.

But still, their concerns were valid. I think just. For real estate investors. And so I told you, I was like, Man, maybe we just jump on and we have this conversation about what do we anticipate, Like what do we think is gonna happen as we roll into 2021 in the real estate markets or in residential real estate investment together.

And so, dude, thanks for being willing to just jump on and have a discussion. I don’t know where it’s gonna go, but it’ll be fun. Well, and, and I think part of the reason why, you know, this is a, a great way to kinda go about and kind of address this topic. You know, people’s fears are a little bit compounded, I think, by the fact that Covid is, is still raging right now.

And, uh, they’re worried that, that, that might kind of amplify, you know, the government’s response to, not only to Covid, but to so many different things. Because, I mean, let, let’s face it, like Covid is creating a lot of unintended consequences. Of things that we may be dealing with, not only this year, but for many, many years.

And as real estate investors with long term outlooks, we, we kind of wanna do our best to understand what these long term ramifications could be, might be, and the, you know, the amplification of. Of, you know, political issues, you know, because of covid is just something that’s on people’s minds. And so I do like the idea of trying to address, um, at least in part some of the, you know, the thoughts or the fears or concerns that, uh, that some people have about investing in real estate right now.

Well, the other thing that I like is, you know, we, we don’t record these episodes like months and months in advance of what’s going on in the current market. Cuz we like to have current conversations with you guys out there listening. And, uh, that’s what’s cool about this. This is a very current topic, this is a right now sort of situation.

And so we could talk about this. And so, Steve, let me kind of tell you what. Some of these, uh, these individuals concerns were, that I was talking to. So, um, they were kinda worried that the main thing that they were worried about and, and I’m sure many of our listeners out there, you, uh, income replacement, uh, Rangers out there.

Maybe you’ve been thinking, Well, hold on. Do I wanna hold off to invest in real estate because like, I don’t know what’s gonna happen. Uh, I, I don’t know if there’s gonna be another moratorium on, on, on mortgages or on evictions. Uh, I, I don’t know what the, you know, Biden administration is gonna be doing when it comes to real estate or taxation.

And so all the people that I talk to today, They were all kind of expressing the same concern, which is, I’m not sure what to expect moving forward. And all of them were sort of concerned about the same thing, which is what if the Biden administration just says you can’t evict anybody? And what if tenants just, you know, across the board, stop paying rent all together?

And so I think that’s a bit of an extreme thing. I don’t think that would really be the case, but maybe Steve, let’s talk a little bit about what. Saw happen when the moratorium rolled out, when people were not allowed to be evicted and, and just kinda, I’m curious on your thoughts are potential. So first and foremost, one of the benefits living in one of the greatest nations on the planet and living in a nation with incredible people upon whose governmental and institutional foundation is based on virtuous living.

What I’m, why that’s so important is, is that regardless of what the government says and has said, because cuz Kevin, they did say back in his march or April that there was a moratorium on evictions. Right? And it’s what the vast, vast, vast, vast majority of all renters continue to pay their rent because it was the right thing to do.

It was the honest thing to do. People get it. And for the most part, the vast majority of people in this country are good, honest, hardworking people who aren’t expecting something for nothing. And, Well, let me, let me interrupt you real quick because just so that people don’t think that we’re talking about this, ju just like trying to tell a story that we think is the case.

We actually have the data to back it up. I mean, we, we were hearing that the, that the rate of, of people not paying their rent was like 30 to 40% nationwide. And a lot of that was coming from multifamily. A lot of that was coming from apartment. But you and I both know that we saw that the percentage of done for you real estate clients, people that were renting in the types of homes, in the kinds of markets where we do our real estate with our clients, it was like less than 10% of people that were paying rent.

And then there were extenuating circumstances even among those where it was a temporary nonpayment, but they were able to get caught up. Things moving and our property managers even played roles to make sure those people could meet their obligations. And so the effective percentage of people that we saw in our real estate, in our markets was significantly less than what was being reported nationally.

Yeah. And you’re hundred percent right. And that’s one of the benefits of, you know, investing in in middle income neighborhoods where their BBB plus type properties people wanna be. Property manager companies, property management companies want to rent them. And I mean, these are, These are good, good. You know, people with pretty, quite stable jobs, that kind of thing.

Like you said, there were exceptions now. In the worst case scenarios, low income housing, some of the rougher, you know, uh, type neighborhoods. Even there, it was not as bad as what the government and the media for that matter Sure. Um, was predicting. I mean, they were predicting absolute calamity and that just simply was not the case.

They did see a rise. I mean, they went from probably at, you know, an average of 15 to 17%. In delinquent accounts, you know, to high into the, into the low thirties, I think is what, uh, you know, the stats were. And yes, that’s tough and that is rough, but that is a different type of real estate. It’s a different market and we’ve chosen our market for many different reasons, including this, you know, this type of, of, of a reason.

But, but even then, like that’s not a put you out of business type of delinquency. So, At the end of the day, you know, you know the comment of, we live in a society for the most part, you know, good, wholesome, honest, hardworking people who are not expecting anything for nothing. So, so first and foremost, you know that that’s one of the things to consider when, when you consider, you know, hey, you know what’s gonna happen if they come out with a second moratorium.

You know, on evictions. So first and foremost, that’s one of the things is that even the people who couldn’t pay for a month or two, but then they got, you know, either some payment from the government or they, they found another job. People very quickly, as quickly as they could, they would, they got caught up on, you know, on, on their ramp.

So, um, That’s one of the issues that, you know, that people are fearful of, and that’s one of the potential fears that people have with a different administration, you know, coming in, that that could be a decision. But I tell you what, Kevin, that doesn’t scare me enough to, to feel like, hey, to, to become shot gun shy from investing in single family properties, especially when you know the right types of properties to invest.

No. Yeah, and and to your point, I mean this is, this was kind of my, um, discussion with these guys too. Is that part of the reason why we advocate for this kind of real estate? It’s not because you can’t make money in multifamily or you can’t make money in commercial. We’ve never said those things. We just say, look, from a simplicity standpoint, from a, a conservative standpoint, from.

Man, How, how do we keep our real estate as liquid as possible and in the highest demand as possible? We do single family residential real estate in these markets because it, it’s, it’s for these reasons, you know, I kind of put it like this, you know, when I think, like, we obviously do a lot of real estate in the Orlando and the greater Orlando area.

Well, the, the people that are renting the homes of our clients in those markets, they’re not like the guy in the, in like the, I don’t know. Uniform wi with the name badge, that’s scooping popcorn at Walt Disney World. While that could be an awesome person, they probably are not a real high wage earner and they’re probably not renting.

A single family home, 45 minutes or an hour from work or whatever it is, right? It’s gonna be more of the people that are walking around the park with walkie talkies and collared shirts or that are in a a, you know, in a, an office setting working for the Walt Disney Corporation or whatever. Those are the types of people that are renting those properties that are clients owned that we help.

Facilitate in those markets. Now, I don’t have proof to tell you that that’s who all the tenants are. I just, you know, just kind of understanding what type of tenants rent those properties. That’s what you’re dealing with. And so as a result, it’s a different type of tenant that’s being attracted. But all of that comes down to where are you buying, what type of property is it, what kind of neighborhood is it, what areas within what zip code.

Are, are you, are you purchasing? Cause all of that has an impact on the type of tenant that gets attracted to the property and that’s how you help to protect your investment when you’re investing the right way in the right properties. Right? Yeah. Yeah, absolutely. Hundred percent. You know, another thing that I, I’d like to point out in terms of regardless of the administration that’s currently in power, you know, by the Democrats are coming into the executive.

But this next point that I would like to kind of point out, it doesn’t matter who is in power, and this is something that is happening primarily because of what Covid is brought on, the perspective, the perception, and the opportunity, which is this is many professionals, young and old. They wanted to avoid a commute, and so they lived.

Closer to downtown. They wanted to be where, where the company is. So they didn’t have to do that, that that commute. But what Covid, again, amplified, was this idea that people don’t necessarily have to make the commute because they can work from home and company, after company, after company is proven that their staff, their employees are just as productive from home as they are in the office.

And there are. Is that what it was? Even more like there is Yeah. I’m saying, I’m saying if not more productive Oh, yeah. Than coming in the office. Yeah. Oh, and, and many of these companies have said, Hey, if our employees don’t wanna come back, ever, they don’t have to. And some are just, they’re doing it on a rotating basis.

And, and, and so what’s happening is these professionals are able to move out to the suburb. Live in a single family home that has an extra bedroom that they can use as an office. They can have a dog with a yard. They’ve got a garage for their cards. They don’t have parking costs and expenses, where in some cities, I mean, parking’s more expensive than your rent.

Oh, yeah. And, and on top of that, there’s no commute. And so they, they’re saving that time and, and they’re not breathing the same air as their, you know, as their neighbors. All of those things are pushing people to the suburbs and. Not only has there been more demand for the types of properties that our clients are renting, but the quality of tenant is, is going up as well because of that demand and because of those professionals coming out and, and many of them still, like they’re young enough that they, you know, they’re not ready to own yet.

That’ll be a next phase in their life right now. They still wanna rent. And so like I say, our property managers continue to tell us that there’s higher demand with higher quality tenants than they’ve experienced in the past. Yeah. You know, you know what I was thinking about as you were kind of sharing that?

I was thinking about like just visualizing, like droves of people moving out of these big downtown apartment. I’m moving into the suburbs and I thought, you know, sometimes if we look at like what the actual historical precedent was for how the retirement system got to where it is, is the most fundamental form of retirement I in our country was to own land, to work a farm, to own it, and then to teach your kids how to work it.

And that was retirement, right? It was the farm and the family farm continued to produce and. There was trade, and then during the industrial revolution there were factories. And so in order to, you know, kinda lure the, the, the farmers away from their farms in, they, they provided things like pensions and they provided additional housing options that were closer to those factories.

So you saw a lot of people move to those areas. And now it’s almost like there’s this, this reverse happening again, there’s this migration, but they’re not migrating back to farms, they’re migrating back to suburbs and there’s a lot of space out. And there’s a lot of room to build. And I know that’s one of the things too, Steve, like we work with, uh, we work with some builders and do some new construction for our clients because there is demand for these homes to be built.

And, and it’s not just that people are only buying these, there’s, there’s demand for people to want to rent a new home. I mean, think about that. If I’m not gonna live downtown, if I’m gonna live in the suburbs and I could still get a new home, but it’s not my forever home, right? That’s gonna come later after I get three promotions and, and you know, go buy the big.

Wherever I wanna buy it or whatever. There is this, there’s this in between where there’s a really high demand, whether that’s new construction or not new construction, if it’s just these suburbs in these nice neighborhoods. But there is a real sort of, you know, migration happening. It happened, uh, you know, maybe a hundred years ago moving towards the cities and now it’s moving away from the cities.

Um, and, and I just think it’s really interesting and. If you guys are listening, it’s all the more reason why fear will always frustrate your ability to create, and that’s just kind of fundamental, right? That’s mindset 1 0 1. If you engage in fear, it will cripple your ability to create results. And potential.

And so my advice, if you’re out there and you’re going, I don’t know what to do, Well, the last thing I want you to do is engage from a fearful standpoint where you’re going, Oh, I’m scared. I don’t wanna do it. Because what that will do is it will guarantee that you’ll miss out on something that could be really good.

Everything we do from a real estate standpoint, we always say, Look, it’s long term, right? So yes, you need to be prepared. Yes, there’s no guarantees. But one thing I can guarantee you is that if you operate from a. Fear, it will cripple your ability to create a whole variety of things. And so end of the day, don’t let that fear sort of dictate whatever your choices are going to be.

Be cautious, do your research, but we also wanna talk about the facts, Steve, that. If we look at, the other concern I’ve heard from people has been, Okay, well legislatively like, what if the new administration is gonna try to eliminate the 10 31 exchange? Or they’re gonna, you know, implement some sort of massive tax burden.

And so this is my thought on, on this. Now look, I’m not trying to make a political statement, but I am a political science major. Before I knew I was gonna be a business owner, I didn’t know what I was gonna do, but I studied political science and here’s what I could tell. There is a filibuster proof, uh, Congress, meaning even if the Democrats wanted to eliminate the 10 31 exchange, even if they wanted to implement some sort of broad, sweeping, massive tax increases, they have some hurdles the Republicans may be able to get in the way of that.

And we’ve got a Georgia runoff, um, election that’s coming, and there’s a really good chance that the Republicans are gonna maintain control of the Senate, which again would make it very, very difficult. For the Democrats to push through some of the things that some folks out there are worried that the Democrats are gonna push through.

So not to make a political statement, but simply to say, if you look at the numbers and if you look at even just the environment in Congress, and I would say this historically steep from an election standpoint. Candidates always do the same thing every single election cycle, right? They, uh, exist on the fringes and a bit in the extremes as they’re trying to win over their party’s nomination.

Then they jam right to the middle and they try to bring everybody in. Then when they get elected, they typically stay closer to that middle and not as much on the extremes. And the reason for that is, is most of these candidates understand that that, and especially this year may be more than ever, only half of the country elected you.

And the other half this year probably disagrees more than ever, but. Joe Biden is still the president of all of America and the Democrats, just like the Republicans, want to retain power in their respective houses or in their respective districts or, um, in. In the party. And so generally speaking, they will try to get through the bits of their agenda that they can, but it seems like it’s pretty hard for either party to do anything that’s too extreme, regardless of how it’s kind of put out there in the media.

And I say that only to say, If you’re worried about extreme policies being implemented, I don’t know if it’s gonna happen or not, but if you look at the historical precedent, even in a country that feels very divided, it’s very difficult to implement broad sweeping, massive sort of fringe, you know, policy.

Ideas, especially when you’re dealing with people’s money, right? , There was a reason that, uh, there, there was a reason for a revolution and there was a reason for, you know, no taxation without representation and, and, uh, the Boston Tea Party, I mean, that’s still very much in us as Americans and so we don’t wanna be over taxed.

And if you’re one, Sorry I’m ranting, but if you’re wondering if that’s the case, regardless of what side of the, the political coin you’re. Look at what’s happening. There is lots of companies, there is lots of executives moving out of these high tax states and moving to the center of the country. Where’s the center of the country?

That’s where we do real estate. It’s the suburbs in the center of the country. That’s where demand is increasing. People are moving to these areas and away from these high taxation coastal areas. Um, and so I just look at all. Deep and I go, Look, of course there’s reason, always reason for concern and uncertainty.

When a new administration comes in, you don’t know what you’re gonna get. But if I look at historically who we are as people, who we are as Americans, how these things have worked, uh, for decades and decades and even centuries, I don’t see a huge cause for concern. And for me, it doesn’t interrupt my ability to say, Let’s keep moving forward.

Let’s keep investing in real estate because it really is the way that Americans generate. Yeah, I, I, I agree with you, Kevin, um, on e everything that you just stated, including your, your comments about, you know, fear and what fear does to us and typically just kind of paralyzes us. And I don’t, I don’t think that there’s, you know, cause for fear as far as, you know, real estate investing goes, the pros far outweigh the cons on, on every line item, including, The fact that, you know, as far as the 10 31 exchange, that’s a powerful tool that we have to use as, as real estate investors, and there are some pretty powerful lobbyists that above and beyond, you know, just the, the members of the House and the Senate who have decisions to make.

I mean, they’re being lobbied. Big time like nra, but the National Association of Realtors, they’re a very powerful group and, and they’re not gonna go down without a massive fight in terms of a 10 31 exchange, you know, a, a big change up. You know, perhaps he might be able to, to get some kind of a small something through or maybe nothing at all.

Or maybe he gets everything that he wants, like at the, at the end of the day, we don’t know. But I do feel, you know, confident in the ability of the NRA and other groups, uh, that would fight pretty hard against, you know, something like that. And then on top of that, I mean, quite frankly, a lot of these, uh, you know, politicians are, are landowners and property owners.

And, um, one thing that I’ve learned about, uh, politicians speaking generally is that they’re pretty self absorbed. Totally. And super. Yeah. There’s not very many things that they do that would necessarily hurt them. So, you know, so, so again, I feel pretty confident that, that, uh, the benefits that we’ve enjoyed for decades.

Will continue to be enjoyed for a long, long time as real estate investors. I agree, and that’s why I kind of wanted to have this discussion because I totally understand that there’s fear out there. I’ve had some of the thoughts myself, like what should we be, you know, expecting or considering? And you know, at the end of the day, If you look at even Steve in the history of our company, right?

We’ve weathered, you know, administrations of both parties. We’ve weathered massive financial crises. Um, we’ve weathered the great recession, We’ve weathered Covid 19 and a global pandemic. And regardless of who’s been in power, regardless of what parties been in power, regardless of what type of economic downturn we’re experiencing, or even a global pandemic, what we’ve seen.

Is that this kind of real estate, we’re talking, we’re, we’re coming up Steve, on, on nearly 14 years of kind of working together in this, in this world, right? And what we’ve seen during that time. Is that no matter what happenings and what what’s happening, no matter how the political wins may be blowing and shifting, and no matter what it may be happening in the economy, single family, residential real estate, the right kind of real estate in the right markets, with the right sort of price range, with the right set of criteria.

It’s weathered these storms. Yes, there’s ups and downs. We’re not saying it’s always, you know, sunshine, lollipops, and roses and the, the, you know, the dollars just keep piling up day after day. There could be downturns, but then there’s always these upturns and I just feel like almost more than anything else there has been a weathering of the storm.

Um, and, and a, a more. Cool, calm, consistency in single family, residential real estate regardless of what’s been happening nationwide, economically or politically. And that’s part of what, where I draw my confidence to and say, let me sort of root out that fear of the unknown. Cause frankly, we don’t know, right?

It’s unknown cuz we don’t know. And so rather than being fearful of the unknown, if we could just take a step back and say, Look, I could be confident, uh, based on lots of historical data. That over the long run, single family residential real estate is going to perform well for me. Then that for me says, Okay, it’s time to move.

It’s time to buy, which is what you and I always default to anyway, but, but I really do think about that. Like I look at the historical context and we have to look at it and say, Hey, at the end of the day, regardless of what’s been going on, it seemed to work out in the long run. Don’t you think so? Yeah.

And Kevin, I mean, what’s the opposite of. It’s, uh, courage and confidence. And there’s a couple things that we can have, I think, some, some that we can take courage in. And, uh, one of those things is interest rates. You know, a, a year ago I thought that interest rates were at all time lows and didn’t even consider the idea that they could be lower than that, that were a full one, one and a half, in some cases, two points lower than we were a year ago.

And what that’s done, the opportunity in front of. Gosh, I personally, I think interest rates are gonna remain low. I think they would’ve remained low regardless of the administration, because either administration want the economy to do well. At the end of the day, they always say, you know, in, in politics when, when they’re running, you know, campaigns, they say, What’s the phrase?

It’s the economy stupid? Or something like that. Yeah. Right. And, And in this case, hey, Trump was on his way to an easy victory and then Covid hit and, and what was it that killed us? It’s the economy. Totally. The economy, San jobs were lost. All these different things happened out of anybody’s control, quite frankly.

Yeah. And, and as a result, you know, we gotta change in administrations and, and so it doesn’t matter if you’re on the left or the right, everybody wants a strong economy. And, and right now and for the foreseeable future, one of the key things that can be done to strengthen the economy, to strengthen an investment into businesses, small businesses, big businesses, whatever is that you’re investing in, are low interest rates and access to funding.

And, um, my thoughts are is for the foreseeable future, I don’t know if it’s gonna be year or years, but I think we’re gonna have, uh, fairly low interest rates for a long time. And that. Is a huge opportunity in this current economic client. Not only the interest rates, but the fact that we literally, on our website, you can find an article that explains and shows that we literally have a 10 year supply issue with single family rental properties.

It’s gonna take 10 years to get caught up just in the rental market for rentals. Like that’s what it was, was a, you know, a year ago when we went into Covid, when it was going on, I was like, I really don’t see that prices are gonna fall because we just have such a massive shortage of properties. Yeah. So now we got that combination of low interest rates, high demand.

And because of low supply, that’s gonna put upward pressure on pricing. And as such, equity increases are going to, you know, continue to be strong, particularly in the types of, of properties that we buy. And so it’s kind of like this, this perfect storm. And so I’m kind of moving forward into this new year, into this great unknown of a new administration and the whole thing.

And yes, things will come up though we don’t agree with, and that that may cause some, you know, some stress and anxiety as real estate investors. But the pros. As far as opportunity, far outweigh the cons, and we can mitigate, you know, some of those risks and some of those issues that could come up as a result of, you know, different legislation.

But I, I can’t see any reason for. For sitting back, holding back and not taking advantage of what’s in front of us right now. Like there are many people who, to this day they’re kind of kicking themselves because they didn’t take advantage of, of getting into single family rental real estate back in 2008, 2009, 2010, 2011, and then they thought that they missed the opportunity.

Well, this is one of those moments, Kevin, like, agree, the fear of what a, whoever the administration. Cannot keep you from moving forward and making the decision to invest in single family homes because the opportunity is so huge right now. Yeah, totally agree. So there you go, folks. You heard it here. I agree with everything Steve said.

I think this has been a good discussion to just kind of say, what should we be considering? What should we be thinking about? And at the end of the day, guys, don’t let that fear get in your way. And that’s not just coming from Steve and I saying. We’re both moving forward with investment purchases. Why?

Because we feel like the time is right. We don’t want to miss out on an opportunity. Um, and now feels like an opportunity regardless of what we think the incoming administration is gonna do. If we look at the historical precedent and context, there is an opportunity that is on the horizon and we don’t wanna miss out.

You shouldn’t wanna miss out either. Don’t let that fear get in the way of your ability to produce for you, for your family, for your future, for your income replacement, and for your eventual legacy. Um, cuz that fear will cripple you and it will stop your ability to create those things that you want. For you and your loved ones.

So anyway, great, Steve. Hey, thanks for jumping on and having the discussion. I know we didn’t really plan this out, we just kind of wanted to talk about it, but I think it was useful. Guys out there listening, you guys, guys and gals, ladies and gentlemen, childrens of all ages, uh, thank you so much for tuning in.

Thank you for listening. I hope this was helpful and we wish you a very happy new year and we will see ya in 2020. Take care. Thanks so much for listening to Replace Your Income with Kevin and Steve. Do you have a question you want us to answer on the show? Head over to Apple Podcast and do three simple things.

Leave us a rating and review and tell us what you think of the podcast. Then in that review, ask us anything you want related to real estate or income replacement. Then sit back and get ready to have your mind blown, and if you wanna shout out, leave your Instagram handle or. And that’s all. Then listen in to hear your question answered, live unfiltered and uncut.

Thanks for joining us on Replace Your Income and just remember income replacement for you and your family may only be one property away. See you next week.