Episode 130: Providing Education, Clarity, & Networking Opportunities To Investors with Yosef Lee

Believer, Father, South Korean Immigrant, Lawyer, Multifamily Apartment Syndicator and Investor, People connector, Status-quo hater, Strategic planner/Action taker, and Entrepreneur. Yosef Lee has a vision to achieve Lifestyle by Design and Choice, through freedom of T/P/O (Time, Place, Occurrence). He started his journey of investing in cash-flowing multifamily apartment as a tool to create multiple active/passive income streams to achieve financial freedom.
Get in touch with Yosef: www.yoseflee.com
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This week on the Prereal podcast, we have Yosef Lee. Amazing story. Immigrants who came to the country at the age of 17 built up a great practice. He became a successful litigation attorney, but was trading time for money and felt that the American dream had more than even this dream that he was already living and had built relatively quickly through Robert Kiyosaki and rich dad, poor dad, at of course, bigger pockets. Of course, he had that moment where he had decided he no longer wanted to trade time for money. And from 2020 to 2022, Yosef Lee has acquired over 1100 units in the multifamily space as both JV and syndicator. Yosef Lee this week, it's a great show. Wonderful guy out there crushing it. Shares a lot of tips and inside information on how he built the plan to get the deals done. Don't miss it. Yosef Lee. This week's prereal podcast. Are you ready to bring your real estate game to the next level? My name is James Prendamano. I'm the CEO and founder of Prereal. And over the past 25 years, I've closed over a billion dollars in transactional real estate. Each week I'm meeting with outstanding investors, high performing individuals and visionaries operating in the real estate space. These are the people that are actually out there in the real estate game right now getting it done. This podcast aims at bringing anyone's game to the next level. This is the prereal podcast. Welcome, everyone, to the Prereal podcast. We're joined today by Yosef Lee. Yosef has a fascinating story, at least as I perceived it. Yosef is a self described strategic planner, action taker, entrepreneur, or want to be. He has a litigation background as an attorney and avid real estate investor. And folks, the reason I wanted to have Yosef on and I want the folks to pay close attention to today's show. So we're going to lead with the punchline. In the last two years, essentially, Yosef has gone from zero to 1100 units as a GP, that to me is absolutely remarkable. So Yosef, thank you so much for taking the time and joining us today. Thank you very much James, for having me. I'm very excited to be on this show and know this is very well known real estate podcast show. So I'm very happy to be here. No, I appreciate that. And it's having guests like you on that have helped us build the audience. So we typically like to start Yosef with some background. Right. People don't wake up and they're not born as real estate investors. So can you give the folks a little bit of history? My understanding is that you are the son of an immigrant father and just walk the folks through your journey up until the point that you started to invest. Sure. So as you said, I'm a son of well, not son of an immigrant. I am immigrant myself. So I came here when I was 17, almost like a couple of months shy of being 18 years old. So as soon as I came here in the US. Everything was like shock, right? Culture shock. And I had no friends, so I had to make new friends, new language and everything. So every day ever since I came, my life has been all about moving myself in a new country, trying to get better version of myself every day as much as possible. I think I achieved some goals but also had many mistakes. But I learned the lessons and moved on. So fast forward, I became an attorney after graduating school, worked for years and I became an attorney looking to become a professional, making the money, living a good life and doing this for a couple of years. I started realizing that by nature of my job, I am trading my time for money. And I was sort of thinking like, is that the job that I want to live for the rest of my life the way that it works? Okay, you're making some money, but what next? Right? So I started looking to the options and where I could sort of take the control of my time back and I started just doing some research myself. And that's around when I stumbled upon the book, reached it and appointed by Robert Kioskius. That blew the Purple Bible, right? And that book just changed my mind upside down. Wow, this is so simple yet so powerful. No one really taught me about this. So that's when I started looking into some creating some passive income streams and didn't know much about it. So I tried a little bit of REITs and I started trying a little bit of mutual funds and stocks were not and I stumbled upon real estate. And as I delved into more into it, I stumbled upon something called multifamily. And the benefits that multifamily investing offers was just no brainer not to take. So throughout 2019 I started doing self education by going to BiggerPockets.com and then I started listening to the podcast like people like Michael Blank and Grant Cardone. Those are the first two people I listened to. And I started dreaming about being a real estate investor, a multi family real estate investor. And the fact that I'm from New York got me into a limiting beliefs like how can I find a big multi family as an individual, not as an institutional level and become an owner of a building like that? And okay, let's see if I could start finding something not in New York, but maybe somewhere else. New Jersey and Connecticut. I started looking to other states, but still expensive. It's not just something that I thought I could because I'm not going to be there whole time to look after the property. So these are all the limiting beliefs that I had in the beginning, but through proper education, through meeting, through networking with right people and making the right partnership, I was able to crush that limiting beliefs and fast forward starting from February 2020, I joined a mentorship group, two of them. One is MIH Mastermind. The other one is Jake and Gino. Multi Family Investor Group. And I met all my partners there, did the right education, and then, yeah, I ended up doing my very first deal in December 2020. That was the 44 unit multifamily in Kansas with six of us as a joint venture deal. So we covered a lot of ground there. Thank you for the background. At the age of 17, you came to the States. Can you just spend a minute or two on the driving motivators for that move? That had to be scary as all hell, right? Coming to a new place and having no base to step into. What were the motivating factors that said, okay, Yosef, it's time to do this? Well, as scary as it was, at the same time, it was very fascinating, because, look, I'm in a new place. This is a lending called lend out opportunity. And I was young. I thought I thought I could make something huge in this new country and impact. So that was my driving factor every day, like I said, being a better version of myself every day, like, no matter what it is, let's try to learn something new and try to find the goals, try to find the visions and see if I could make something happen here in this new country. That was very initial driving factors before I got married and having a kid. So you're here, and we all seem to fall into this pattern. Not all of us, but many, many of us fall into the pattern where we are trading time for money. We're not even aware that we're doing it right. We believe that we're crushing and we're doing well. You're an accomplished litigation attorney. I'm sure that you're doing well, and you're starting to pull together this American Dream that you spoke about. And then you read Kaiosaki's book and Rich Dad, Poor dad over and over and over. Every single investor of scale that I've spoken to, that book has played, including my own, journey, a pivotal role in taking concepts that these are not complicated concepts. This is not stuff that's in the abstract. This is stuff that we know, right? It's there, but we're not aware of it. We know it, but we're not aware of it. And until you've gone through that book and it is the Purple Bible, as you said, this is a book I revisit every single year. Now, it is absolutely imperative if you haven't picked that book up yet, folks, it will profoundly change your mindset. It speaks a lot about trading time for money, a lot about these limiting beliefs that Yosef is talking about. And it opens your eyes to this whole other world that, for whatever reason, we're not taught as we come up through the education system, right. It's just not part of the curriculum anywhere. So we fall into these roles and we become kind of robots and you have these moments where bigger pockets is another resource that we see over and over and over again folks have relied on. You decide that you're having some success, but it's not the success you want and you're going to work on building this portfolio. Now that is one piece of the mindset and that is one step to acquire, to join the groups, to source the capital, to learn the markets, to close the deals, to put the management structure in. There's an awful lot that goes into these syndications. As a GP zone LP is a different story, but as a GP, there's a heck of a learning curve there. Can you talk a little bit about or a lot about some specific things, the level of intentionality that was required for you to execute this plan? Sure. First mindset. Like I said in the beginning, even if I had made the decision to go into multifamily, investing still had a limiting beliefs, right. I just mentioned a couple, but no way I can invest outside of my backyard because I was looking into further away from New York and how can I trust others? You need lots of money to start with and I should probably start small like single or duplex before going to big multifamily. Maybe education is a cost, things like that. They're all limiting beliefs like that and everyone should have that same, at least if you're in a similar situation as I am in New York in a capital place where there's not much thing to do as far as multifamily goes as an individual level, the first thing I did was the education. I did three things in a very simple way ena, right, education and networking and actions. So education wise, I knew I wouldn't know what I didn't know at the time if I don't actively search for better education. Right. I know there were a lot of stuff I was listening to for free podcast and YouTube videos and all that. But as I was doing it for a couple of months, I started realizing that I was not really taking any actions I thought I was taking actions I thought because I was reading, I was actually searching the contents through YouTube and I was listening. I consider that at the time to be an action. So I'm doing a lot. But if you really think about it, it's not really an action, you're just passively absorbing the information that's out there. You need to do more than that.

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I ended up determining, okay, I got to join a mastermind or some sort of mentorship group to get better education and also have that exclusive network. Because I was able to see as I was doing some education, people do deals, people say, okay, let's do deals. Someday you meet somebody on Bigaparket.com and you always say, hey, nice to meet you, we'll do a deal someday. But do you really do the deal that way? Maybe you can, but to me, seemingly the deals are being closed by people who are within that close proximity. I noticed some people, they do the deal together because they're in breast some rock group. They're doing deal together because they're on their Michael Blanks group. So I'm like, maybe I should join one of the groups out there to expedite my game, right? So I vetted couple, I ended up joining Jake and Gino because their story kind of resonated with me. They're from New York pizza restaurant owner and the pharmaceutical representative of a company and they left New York and built the empire. So that storyline just resonated with me. So I said, you know what, I'm going to join that group. So I joined. So education started. Oh, and another thing, this is probably another mindset. If you're on the fence of deciding whether to join a mastermind or a mentorship group or not. I'll tell you about how my mindset changed. So I was asking a lot of questions to a lot of people that I met on digitalpockets.com. 80% of people told me, look, Yosef, I understand that you want to join a group, but let me tell you, whatever that you're going to be learning from these groups, you can learn for free from YouTube or listening to podcasts or just by reading some books. Why don't you just spare that money and actually use that money to do your own deals and learn from there. I'm like this guy's at the point, right? Okay, that's a good point. And I was talking to this rest 20% of people and they were like, yo sir, you got to join and must join. You're going to meet a lot of people, amazing people. You're going to be partnering up with them. You're going to be within their exclusive network. I'm like, huh, okay, this guy has a point as well. So I was thinking and just given a lot of thought because it's not cheap program, right? It's a couple of 20 $30,000 at the time. So I'm like, okay, let's think. So I considered all the factors out there and decided to join based on the two reasons. One, by then I had already decided to become a multi family investor, not single family. Duplex, right? So pleasing 20 $30,000. Although it's a big money, it's a lot of money, I thought that it wouldn't do much at all, right? Because we're talking about millions and millions of dollars of multifamily investment, like saving 2030 grand. What are you going to do with that? Right? So that was how I thought about that. And secondly, all the multi family deals are to me, it looks like actively being closed by these people from 20% as opposed to this 80% of people. So I'm like, you know what, I'll listen to that guy and for these guys because they're they're producing the results. So I joined. So if I mean, it's a simple reason, but if you're on the fence of deciding it, just think about it. The language, first of all, is different. They're saying, oh, you're going to be learning that for free. That's just free content out there. And you could start small, things like that. But against that, these group of people were saying, you're going to meet amazing partners, you're going to meet amazing people, the network. So I loved the fact that they were putting the people first as opposed to free content because, yes, it's true. Education is education. And you will probably even if you join, you'll probably think that, oh, this is stuff that I could also get free from YouTube. But it's not just only that, it's the network that comes with it and also the support that you're going to get because this is a long term journey. You're not going to be just doing one deal and done, right? You're going to be doing multiple deals. And this is not a flipping or wholesaling where you could probably do one or more deals per month and yourself. No, we're talking about at least 2030, 40 units to 100 unit apartment where you will never be able to do it alone. So you need that support. I didn't have that support from my friends because in New York you're in New York, right? Yeah. When it comes to real estate investing in New York, at least among my friends, it's buying maybe single or duplex and just sits on it for like next couple of five or seven years. Crazy appreciation. And you sell it, you make a chunk of money, and then you pay tax, and then what, it's gone. You got to do it again. But guess what? The price is already up, right? So no one understood this multifamily syndication concept among my friends. So I was kind of lonely at the time because they were like, are you sure this is like legit business model? You sure this is not a skin? I'm like, I believe in it. But they just didn't know. They didn't have any proof of content. In other words, you have that support from these groups. They all understand what you're trying to achieve, what you need, and what what you're missing as puzzles. Right? So I joined as soon as you enjoyed, I started networking. Crazy. And luckily, as it was a just the pandemic was this guy's blessing for me. I joined these groups in February of 2020. Right after that, Pandemic came and shut down everything. I was so eagerly to go out and meet real estate people, but I couldn't because I was not allowed to go out. But you know what I found out about Zoom. I didn't know about Zoom before, but after Pandemic, I learned about Zoom, and I learned that people started taking this Zoom call more seriously than before, right? Before. Who would think that we'll do a business over Zoom, right? But the pandemic made a game changer factor into into this whole, like, you know, video conferencing. So I I started doing a lot of networking calls, and I had a lot of time back then because I didn't have to work for good. Six months, I had no work. So all I did was educating myself. Real estate, secondly, doing a lot of networking calls, like this one on one zoom calls, I counted and stopped around 200 calls in 2020. So literally, I did more than 400 calls in 2020, from early to to the late 2020, looking for partners. I met all my partners through that group. That and MIH Mastermind, and then, yeah, out of that, we did deals together until today. Sorry. It's not too long. No, it's all relevant, right? You touched on so many important pieces here, so it's really important for you as an investor to go out and do your own homework and do your research and make sure that you've got a baseline of knowledge, right? These are serious groups, these Masterminds. As you had said, they're typically somewhat expensive to join, but that's intentional, right? They're happy to help everybody. I have found in this world, the multifamily and just real estate investing world in general, they're incredibly gracious. They come from a real, true place of gratitude. They want to help, they want to teach, but they want to be dealing with people at a certain level. Right. They don't want to have folks in the group that want to be spoon fed everything. They want to know that you've gone out, you've done your homework, you've put your time, and you've done your research, and you did it at a time which is a real distinct advantage. When a lot of folks were home feeling sorry for themselves, a lot of people kind of shut down, and they were afraid, which is understandable, but they chose to isolate during that period of time, and you chose to educate and to grow your network. And when you get involved with these groups, after you've done that baseline of study and you understand conceptually what it is that the business is about, you cannot replace the value of the network. You find that everybody has their own discipline. Everybody has their own gift. It's really easy to stay in your lane and to operate in your gift. There's a lot of things that happen throughout a deal. There's the sourcing of the deal. There's arranging of the seed money, arranging of the debt. There's the structure of the deal itself. There's the operations. There's the upside plan. There's the stabilization. There's the management, right? Ongoing. There's the refi and liquidity event to stabilize the asset and pull your capital out. And then there's ongoing management at that level. And we all can't be aces at every one of these categories. And when you get into these groups, you find that there are specialists in the different areas and the different disciplines, and they're not looking to do what you do and you're not looking to do what they do. They understand the model, they understand the benefits of multifamily investing. And all of a sudden you find folks that are action oriented people, they've got a good base of knowledge and they're in their networking, looking for folks that can execute their piece of the deal. So you've done your homework. You're in your groups. Your first deal, let's talk a bit about that. Your first deal was in Kansas. You closed it in December of 2020. How did you find that deal? So this deal came to us through one of our partners who knew so one of our partners, my Boots underground partner who lives in Kansas, he's friend knew the seller. The seller was, I think then wanted to go bigger. So he wanted to get rid of the property. He's been owning that property for decades. So no debt. He was just owning it for free, debt free. He wanted to get rid of it and go bigger or else he wanted to retire, something like that. Either one of the reasons. And because he knew the friend of one of my partners and we were able to just offer without competing with any other parties, they liked our teams. And the seller said, you know what? I want to sell this property to you. One condition is that you need to close within a year. 2020. That was, I think around September. So we said yes, we'll love to close 2020. So yeah, that's how the deal came to us. It's also through network then, right? Bottom line is network, we knew the person who knew the seller and he came to us. So that's one of the biggest questions and places where people get stuck. How am I going to find the deals if we're from the big markets, la. New York, Chicago, Miami, where it's incredibly expensive to penetrate your market, this is how you do it. So the sourcing was handled by a partner now who put the cap stack together for the deal. So this first deal was joint venture, six of us. So we had to raise the deal. The purchase price was 1.75 ish, and it was 44 units. So imagine 44 units, 1.75 New York. No way. Not even maybe three units, right? Yeah, maybe. But yeah, this property is in a C class area workforce housing. Well, I'll say C plus. Not like D area, but it's still nice. C plus area. The seller was owning it for debt free. So he didn't bother pushing the rents for decades. He was okay with just getting a cash flow. Right. So there was huge upside for the property. Actually, we had another property that's exactly mirror image. So we believe the developer developed 88 units and just cut in half in two parcels and sold one to the other. Right. So that mirror image property, without putting anything much renovation into it, where at the time we're getting at least $200 per unit, more rent than ours. So we knew that the market rent is at least one hundred and fifty dollars to two hundred and fifty dollars more per unit per month. So we knew that there was a huge upside, yet the seller didn't put much value into it because it was still cash flow and he didn't bother. So when we acquired it, it was 1.75 million, but we knew there was huge upside to raise the value. So we bought it 1.75 and we had to raise, I believe, $650,000, $650,000. So it was taken care of by among us, the six people. So another interesting limiting belief and thing that you hear, if the landlord could get more money for the apartments they would be getting, it not true. Everybody's circumstance is different. And you find in these deals that there is so much opportunity that often is just not realized because of life circumstance, timing, a number of different factors. Right. So loss to lease to the tune of 100 and $5200 an apartment has a significant impact. When you're talking about 44 units across the board, you're talking about raising your cash flow by a good margin here. Yes, totally. And just to piggyback upon what you just said, by now, doing some deals, by now I realize what the ideal buyer the sellers are looking for is not the one who offers the highest amount of money, but someone who can close for sure. Yeah. So everyone's got their own pinch points. Right. And that's another common misnomer that the highest bid wins. You have to understand your seller. It is so critically important. I'm a deal maker. That's my gift. Right. To understand your counterpart, you have to listen. And if you listen, they will tell you everything that you need to know to negotiate the best deal possible. For some people, they want surety it's strength of buyer and down payment. For some people, it's timing. They want to be out early or they want to be out later. For some people, it's a personality thing. For some people, of course it is priced so right off of Jump Street here, assuming $200 lost to lease per unit across 44 units, that's $96,000 a year in cash flow just from that one improvement. Right. Now you take your $96,000 and you extrapolate that over whatever cap rate it is that you want to apply. You're talking about almost doubling your value in just that component. If you look at it at, say, like a six, six and a quarter cap, right. You're adding a million and a half dollars in value on just that one little micro adjustment. Right. What you said is what actually happened. Yeah. So these are the things that people hear and they think it's too good to be true. It is real. And this is how these deals are getting done now. And if you pay attention to your portfolio, you can optimize and pull crazy value out of these assets after you close and ongoing as you manage. So your deal is pulled together. You guys source the capital yourself, you go out to the markets, you secure debt, you close by that deadline. What about management? Now what? Okay, now we inherited the management company that the prior seller had. And we liked them, so we kept them. And then the management company knew all the tenants already. So we had a rather smooth transition in the beginning. And then we were getting on a call weekly basis with them to make sure our business, our business plans are being executed and if there has been any problems with delinquencies and all that. But in the beginning, I believe more than 50% of the tenants were month to month. So we had a set of business plan of replacing the month to month tenants into long term lease tenants and by getting a new lease and all that. But back to your question, management wise was pretty smooth in the beginning. Another point I want to make is when it comes to big multifamily, the management company is a little different than residential. One family duplex house management company, right. They know how to manage multiple tenants at once under one roof, and then they're more professional level. As an owner of the multifamily building, we don't really get involved in day to day operations. It's done by the property management company that we hire. We just set the vision and goals and business plans and make sure they follow. And that's being executed. So your on the ground partner source the deal. Nothing else required you to be in Kansas in any way, shape or form. Through a clear vision and an intentional plan, you began to execute on the model. You start converting some of the months and months into year or two year leases. I'm sure you're capitalizing on the upside as you're moving along. One of the great benefits of multifamily is you could recast your rents as frequently as you'd like and subject to your lease. And now you move into a point where the asset is stabilized and you're going to refinance cash it out. Yes, that's actually what happened. Along about a year and a half, we were able to raise the average rent about $150. They'll have upside, but we push it to about $150. And as you can calculate that area and we call the sea area. Right. So we applied about 7% cat rate there. So if I just run my calculator a little, $150 times 44 units, right. Times twelve months, $79,200. And as we know, if we divide this by cat rate, it will give us the value of the property. If you divide 0.7 now. As you exactly mentioned, $1.1 million plus value was created just by pushing the average rent $150 per unit. Now, we had a good relationship with the local bank that we got the loan, but we wanted to get onto an agency that so that we could have a lower interest rate and longer balloon terms. I think we did. Through a CBRE, we got onto the Fred Matt. We actually got a lower interest rate for the new loan. And CBRE sent out their own appraiser and the appraiser result came out to be actually they applied lower cap rate. Because they thought this area is more gentrifying. So the cap rate we applied was 7%. I think they came up with like a six, if not 5.9% or something. So actually it was a lot more than the value that we expected. So we were able to last April 2022, we were able to pull out enough money to return 100% our capital back to all the investors, yet still has some rep left over. So we distributed the bonus too. And then yeah, the property is still cash flowing. This is the proof of concept of infinite return, right? I knew your numbers and I never saw the deal. Maybe we'll park. I know, yes. So you had to be thrilled, right? This is your first deal. You absolutely smash it. You're pulling your capital out inside of a year and a half, essentially, plus bonus for distribution. And now the vision is there. Right? Now, once you've done your first deal, you could read about it in the book. And it's here in my stack somewhere because I'm constantly going back to it you read the book, that's one thing. But once you've gone through the actual deal and you pulled money out, folks, I'm not just saying it, it's never too fault. There you go, this book, right? Once you've actually cashed out and you've gone through it, then you see the difference between trading time for money and not trading time for money. And the fire is lit. Right? So from that point you have now added another 1053 units plus or -1057 units plus or minus talk just for a few minutes on what that scale has looked like. Have you formed multiple groups? Is it still the same core group? What's happened in that evolution? So after that first deal, following that March of 2022, march of 2021, I'm sorry, we did our second deal, 68 unit syndication with the same group as the same core group having additional secondary partners. So this group this core group did first JV, and three months later we did first syndication deal. All right, so we experienced I was fortunate enough to have experienced both. And then thereafter, one of my mentors got me a job offer. He offered me a part time position in his real estate company. So I joined his team. He was like, I know you're working full time as an attorney. I don't care whether you work at night or weekends, as long as you get the job done. Would you like to join? Love to. I said, of course. So I joined, and with him I started learning as how to raise capitals and also I looked after his companies and creating operating agreements and all that, like some legal stuff, right? So that's how I started adding value to his company. So with him, he joined with another group. It's a Sharp Line equity, great syndication operator out there. I have mainly two teams that I work with. One Sharp Line for apartment syndication, and my core team was still due and more focusing on JV structure deals. So with the syndication as I go in as a partner of the group, I also got a coach you share from all the deals. That Sharp Line closed in 2021 and 2022. Just briefly saying after that, first syndication as a core group of 68 unit in April with a 64 unit in May, 36 June, 72, and then August, 131 September, 150 units in 2021 alone, 2022 with the 70 in January, 7472 and 76 in April, 108, 115 June and 98 August. It's all mixed in my head, but that's about how fast the group was moving, syndicating all the deals, raising all the capitals in a day or two. But again, that's a syndication. I love syndication because JV you need many times you need your own capital to be a JV deal, and people will not accept you if you just come in unless that's very specific value you're adding something like finding deals, right? And I only have so much money, I can't really do JV all the time. So syndication is a good way to earn fee because to me, syndication is truly using other people's money and make a fee out of that. And then I love to roll that money into a JV deals because I also see different value from JV deals. So I love to do both. To me, syndication and JV together. You mentioned about truly trading, truly taking the time back, is that what you meant? Or freedom time? You definitely mentioned about it. Yes and no. Some people think that being an active investor, it's a great thing. But to me, I learned being an active investor, yes, you can leverage other people's money and other people's time. You will get some time back, but still it's active. At the same time you're being an active, I want you to become a passive investor as well. As you make money, save money, you need to put that money to work for you, otherwise you will always still work. So I love to do both, that's my business plan. I make money from syndication and JV. Either cash out, refi, whatever, and fees, I roll that into a passive investing side, either in my own deal usually, but I also invested in someone else's deal as well. So that at one point, something, god forbid something happens. I stopped being an active investor. Still have something coming in. Yeah, it's different strokes for different folks, right? It's two completely different mindsets. Clearly two incredibly different skill sets. On the active side, the GP side, you're actively working, pursuing, and accountable to people for their money. On the passive side, you're essentially cutting checks and you're trusting in the team that you're investing in to execute, which is why it's so critically important to make sure you do your homework and you find investors that understand the markets. They're ahead of the trends. They're really actively working it. I say this on the show all the time. I've never seen a pro forma that didn't look great. Right, everybody's? Pro forma looks great. Oh, yes, right? You can make it look good. Yeah, no doubt about it. But if you're seasoned, you could see through most of it pretty quickly. And if you're not, make sure that you're with someone that is seasoned, that can see through this stuff. Otherwise, that's how people get hurt. Look, Yosef, congratulations on the success. Yosef, my bros, it's going to stick with me now so people can find you@yosefyourbrosef.com, but I wanted to, in your words, please tell the audience what is the best way for folks to find you? I try to be very active on social media, so I'm on Facebook, LinkedIn, Instagram, and I started doing some TikToks. So it's funny that's a whole lot of different social media platform there, but I started anyway so that I could also get some value out of it. There's a whole message of tomorrow. Yosef, they are I mean, we're, we're on stock. We. It's been a burn, right? But, you know, people start to follow and catch on, and there are some young folks that are really interested in this. And you start building the network and you become a brand and an entity, and I applaud you for it. I think it's great. Right? Thank you. There's only one handle for that. Yosef your proceed. So yosefyourbrosef and send me the DMs. I'd love to get on the call and share my experience and share my tips and all that. Yosef, I really appreciate it. As always, folks, all the links, all the information will be down below. Congratulations on an amazing jump start to the career. We're not too far apart here in New York. Maybe one day we'll get together and we'll get into a deal on our own, for sure. I'd love to grab something or eat dinner with you someday. We'll do that. We'll definitely look you up. Yosef Lee, everybody appreciate the time. As always, folks, please stay safe.