These five books will teach your child more than any college degree ever will

The whole student loan mess and the cost of higher education is a tired conversation. Everyone is having it. I did the formal education thing. I have three degrees and lots of certifications and training and they all have helped me be successful during my career.

However, I have to ask the question to myself? Could I have earned the same outcomes that I have today if I didn’t get those degrees? It’s a valid question. Obviously there is no way to know the answer to this question because we can’t go back in time.

What I do know for sure though is most of the calculations, knowledge around marketing, sales, leadership, business accounting, business strategy, etc. came from reading the right books and putting the knowledge from those books in to real world applications immediately.

I have read 600 + books since I started tracking them over a decade ago. Yes. I track them in a spreadsheet and I rank them and then take my notes from the book and put them in my journal. Yes. That’s how it is done if you want to use what you learn.

From these 600 + books these five are the ones I believe when applied and the information and knowledge is used in a real world application along with the right mentors is worth more than any college degree I have. And I have the receipts to prove it.

Think and Grow Rich

Rich Dad Poor Dad

Creating Wealth

The 10 X Rule

Cash Flow Quadrant

To your success and your future.

The unintended consequences of low mortgage rates

Most people are probably tired of hearing about the current home mortgage rates. Everyone knows they have been raised four times this year and the Fed may raise them a fifth time in the next day or so.

But one of the unintended consequences we are facing right now of very low mortgage rates prior to 2022, is that many homeowners across all spectrums of life have record low mortgage rates. Some as low as 2.25% and the people with these low mortgage rates aren’t going to be moving anytime soon and giving up that low rate.

So what does this do to the housing market?

Well, first of all it will continue to keep housing supply down. Even if you have a growing family and you need more room. Most people will figure out away to stay in their home and possibly use the equity in their home to add on instead of move.

Another unintended consequence is the fact that we have now created a culture of people who believe the artificially low mortgage rates should be the norm.

The average mortgage rate starting in 1971 to 2022 has been 7.76%. We are not even close to this rate as of today and the market has totally freaked out at the current rates.

One analyst calls these record low mortgage rates the poison pill to the housing market. Because the housing market has cycles. People throughout their life are upgrading and downsizing depending on where they are in their life. And with record low mortgages fixed at these extremely low mortgage rates people will stay put which impacts the entire marketplace.

To your success and your future.

Why income producing real estate has the best customers

Here is an exercise for you to consider.

You have most likely been on both sides of the equation. You are definitely a customer. Meaning you frequent certain stores and buy certain services on a monthly basis from different companies and organizations.

And most of us have also been on the other side of having to be the person who provides those services and products for our own company or our organizations customers. Whether you are doing directly or indirectly.

So what makes a great customer? What is interesting about this question is you don’t see very much information on this question on google. Anything related to customers is usually the other way around. Meaning, how can a provider be a better provider to their customers and provide better customer service.

Here is my simple list of what makes a great customer:

  1. They love your product
  2. They are willing to pay the price for your product
  3. They use your product exclusively
  4. If you take your product away from them they are willing to pay more to keep it.
  5. They value your product.
  6. There is an inherent need for your product.
  7. They pay a recurring fee to continue to use your product.
  8. Somewhat difficult to change to another provider of your product.

I am sure we could come up with more on this list. But I think you get the point here. A great customer realizes they need your product or service as much as you need them.

I think this is when the relationship works best.

So why does income producing real estate have the best customers. Look at the list.

The person needs your product. Everyone needs food, water, clothing , and shelter. Period. In that order as well. So it is essential.

They pay a recurring fee on a monthly basis for your product. All of my customers pay monthly. Sometimes they may even pay in advance.

And it is somewhat difficult for my customers to switch to another provider of my product. Sorry, but it is true. Nobody likes to move. It is a pain in the ass.

Now, on the flip side of the equation. As a provider of housing I must do my part as well. And I must provide great customer service.

I have to serve the needs of the customer on a daily basis. I have to respond to their requests. I have to make sure all of the appliances are in good working order. I have to make sure things are kept up. This is my obligation in the relationship.

And it isn’t very hard to do these things. The old “slumlord” moniker doesn’t apply in my world. I take care of my tenants and my properties. It would be stupid not to.

For all of the reasons I outlined above is why I believe income producing real estate has the best customers. Additionally, owning income producing real estate is a business that anyone can do, including me.

To your success and your future.

Why saving your money in a bank is stupid

When is the last time you looked at your interest payments you have received from a bank on the money you have saved in there? If you are like most people. You probably rarely do.

It doesn’t matter if you have a lot of money in the bank or very little in the bank. The interest they pay you on holding your money is absolutely negligible.

Here is the dirty secret. Banks have a reserve requirement of 10%, the deposit multiplier means that banks must keep 10% of all deposits in reserve, but they can create money and stimulate economic activity by lending out the other 90%. So, if someone deposits $100, the bank must keep $10 in reserve but can lend out $90.

Read the above again. Banks are lending your hard earned dollars out 9 – 1. And they are getting a premium on that 9 and giving you peanuts of that spread that they are getting in interest on the loans they give to others.

The average savings account right now pays you about is about .16. What a joke.

Look, I am a big believer in saving some cash. But save your cash to invest. Don’t save your cash to have cash because it is useless sitting in a bank account.

Look, I realize that the banks must have some money in the bank to be able to lend, which is what allows me to buy the real estate that I buy. However, not everyone knows this dirty little secret about the banks. Now that you do, you can use this information and learn how to capitalize on it.

Save your money long enough to be able to invest it in something that gives you a great return. It could be 3% or it could be a risky investment that gives you 30%. They key is to save enough money to put it to work for you.

This is the lesson most of us didn’t learn in school. I know I didn’t. Don’t earn to consume. Earn money to invest and let that money multiply. Multiplication is way better than addition and definitely way better than subtraction.

I work with people all of the time that are looking to sell their house. And if they don’t need the money now. I tell them to take a down payment from me or another investor. And become the bank. Allow me or some other investor to pay them a rate of interest to them to buy their home from them over some specified period of time.

How it works…

We agree on a price for their home. Then we determine how much of a downpayment makes sense for myself or another investor to pay the owner. The balance of the amount for the house we agreed on is then set up like any other payment you have ever made.

The balance is amortized over 15-30 years. This makes the payment realistic and doable. And then usually it has a clause that says the remaining balance of the mortgage should be paid in full within 5-7 years (balloon payment).

This works well for both the investor and the seller. The seller gets to earn some extra money during the term of the agreement/loan and the investor gets to own the property.

These scenarios allow both the investor and the seller to win.

It can only work if the seller has a paid off home or whatever kind of property it is.

This is the condensed version of the scenario, but my point in telling you this is for a few reasons.

If you are saving lots of money, STOP it now. Quit allowing the banks to profit so much from your hard earned money. If you are saver type, I get it, at least put it in to less risky investments that are giving you a better return.

If you currently own your home and are looking to downsize, move, or do something else. And you don’t need the money out of your home or investment. Consider being the bank and selling it to someone else.

And if you are a aspiring investor. Consider asking a seller if they are willing to become the bank so you can buy their property from them.

To your success and your future.

Leverage: Good or Bad?

Leverage is one of the most powerful tools we as humans can use.

Think about it.

With the right amount of leverage a person can move a large boulder weighing hundreds and even thousands of pounds by themselves.

When it comes to business and finance and most specifically real estate, leverage is the way individuals can create massive wealth.

A basic definition for leverage: use borrowed capital for (an investment), expecting the profits made to be greater than the interest payable.

We have talked about all the ways real estate makes individuals money. Check out this post here.

Income producing real estate is one of the very few businesses that you can invest as low as 3% in and own 100% of the asset. Yes. You can own 100% of something that you only have a 3% commitment/investment in to.

They key to that investment is whether or not that the investment makes you money. Owning a home and living there paying your monthly mortgage is not an investment.

Owning an income producing piece of real estate that pays you more than it costs to own is investing and leverage allows you to do this.

Think about this. If you were to go to your bank right now. And let’s say that bank is a publicly traded bank and you can actually buy stock within that bank. That bank will not loan you money to purchase their own stock. They would never do this. But they will give you a loan on an income producing piece of real estate.

Some of the detractors out there are saying:

Is too much leverage a bad thing?

And I would say yes. But if you are getting a return on the money you borrowed greater than the money its costs you to borrow it. Then you should be in a winning position.

Early in my investment career I took the conservative approach. I paid off five single family homes. But then I said, I must increase my portfolio and the quickest way to do this is by leveraging the wealth and assets I have already accumulated. I doubled my net worth when I made this decision and this is how.

There is a number in business that is looked at called Return on Equity (ROE): ROE is a gauge of a corporation’s profitability and how efficiently it generates those profits. The higher the ROE, the better a company is at converting its equity financing into profits.

When I took one of my houses that I had paid off. It was worth $100,000. Each year it generated about $12,000 in income. And profits (net income) of about $7,500.

So $7,500/$100,000 = 7.5% return on that $100,000.

Let’s say I take that house and I tap in to the equity. I access $50,000 of that equity and I invest it in a $250,000 income producing real estate. That generates $25K a year. and 15K a year in net income.

So now I still have the $7500 of net income from the house I tapped for the equity. And an additional $15K of net income from the new $250,000 asset.

$7,500 + 15K = $22,500. Now I am getting 22.5% return on that $100k versus a 7.5% return.

This is the power of income producing real estate and leverage.

To your success and your future.

4 things you must STOP to create wealth with Income Producing Real Estate

This morning I was thinking about all the reasons and excuses I thought about before I became a real estate investor. I was like most people when I started too. I had very little money to invest, but I knew it was the right thing to do and would pay off in the long run. I just had to have the courage and go all in.

The first four points are really things you have to stop overthinking. And the last one is a really bonus idea and concept. It is not something you must stop. It really is something you must actually start thinking about.

Don’t listen to people who don’t own real estate.
I put this number one for a reason. I think it is most important. The remaining three are also important, but to me not nearly as important as this one.

The reality is most of us listen and spend time with people that don’t have an understanding of what we are trying accomplish. And to be blunt, if you are reading this, you already are different than most people out there and are likely at the top of your friend and family group.

I don’t mean to be mean here. But this is true. At the top I mean, you are most likely more financially competent, working to change your life, seeking growth constantly, etc. I know this because I have been there as well.

When you start to tell your friend/family group about what you want to do. They most likely will all tell you that it is too risky. Don’t listen. Get around people who have done it. These people know you can do it and will help you do it.

Waiting for the perfect time.
There is no such thing as the perfect time. I think all of us are thinking that there will be a perfect time to do this or that at some point in time in the future. That is the wrong attitude to have. The only time we have is the time right now. Markets are changing all of the time. You just have to do your analysis and go all in. The best time to start would have been ten years ago but since you didn’t the bets time is today. Right now.

Thinking the worse case scenario.
I think it is built in our human nature to always think about the worse thing that could happen. Believe me, I am guilty of this all of the time. I won’t bore you with all of my issues. But the one thing I had to learn about real estate is in close to twenty years investing and buying properties, the worst case scenario hasn’t happened.

When I bought my first property in 2006. I was considering a four-plex and a duplex. I talked myself out of the four-plex, because I said to myself, what would happen if all four air conditioners went out at the same time. What would happen if all four refrigerators went out at the same time. And what would happen if all four units were vacant at the same time. I didn’t think I had the money to overcome those kinds of issues all at once.

So I settled on the duplex. If I would have bought the four-plex. I can honestly say that my net worth would be at least $250K more than it is today. And guess what, now that I have over 50 doors that I rent this worst case scenario has never happened.

Thinking your full-time job will be enough.
I can remember when I went from making 43K a year to making 50K a year. Keep in mind this is more money that either one of my parents had ever made up until that time. And then when I went from 50K, to in the 60’s and then into the mid 80’s, and ultimately multiple six figures since my early 30’s.

All of these jumps in salary were huge to me. I never knew anyone who made that kind of money, at least not in my family. In my small world this was a lot of money. And I am very grateful for ever opportunity I have had and the people who helped me along the way get there.

But even as a single person for most of those significant pay increases it was never enough for me. Obviously I was investing but I never really lived a very outlandish lifestyle. Look I get it, did I have a lot than most people. Yes. But it still wasn’t that significant.

I say all of this, because even with a high salary in my job, it was still difficult to get to a point in my life (I’m still not there) for total freedom and security. And thinking a job will do it is just crazy. And I had significant pay increases during that time. For most of us our full time job will never allow us to become wealthy. You have to invest.

Time.

I mention time twice in five points. You are thinking I am crazy and why doesn’t this point fall under the other one.

This one is different. I am talking about the big clock here. The one that we all have. Yes its morbid, but it is reality.

Our time is limited here, we all know this whether we want to admit it or not. I am 43. If I can hit my goals by 45. I am still technically close to middle aged and really on the back half of my lifespan if you consider all of the statistics.

I am using this as fire under my ass. My dad died at 60. I can still remember the day he died talking about his own retirement. Which in his world was maybe 3-5 years away. But he had worked his entire life to retire one day. I made a decision that day I took him to the hospital and watch him die that I would not do that.

Since then I have tried to work and invest like my life depends on it. Because it does.

I have a great life right now. Really no complaints, but I am working towards one goal. Financial Independence. I chose income producing real estate as my vehicle of choice and I am all in on it. Whether you choose real estate or not. You have to go all in.

To your success and your future.

8 Calculations you must learn to do when you invest in real estate

This morning I was thinking about some of the terms and calculations as a real estate investor I needed to learn. You may not use all of these calculations when analyzing a deal, but understanding each of these and when to use them is very important.

They are really not in any particular order, except for the first one.

Net Operating Income (NOI) is the most important calculation to use when it comes to analyzing a multi family apartment building or purchasing a portfolio of single family homes.

Also, Debt Coverage Ration (DCR) is a calculation that banks look at very hard when they are analyzing a multifamily property.

Learn how to make these calculations forwards and backwards.

A. Net Operating Income (NOI)
NOI is a property’s income after being reduced by vacancy and credit loss and all operating expenses. NOI is one of the most important calculations to any real estate investment because it represents the income stream that subsequently determines the property’s market value that is, the price a real estate investor is willing to pay for that income stream.

Gross Operating Income – Operating Expenses = Net Operating Income

B. Gross Scheduled Income (GSI)
GSI is the annual rental income a property would generate if 100% of all space were rented and all rents collected. If vacant units do exist at the time of your real estate analysis then include them at their reasonable market rent.

Rental Income (actual) + Vacant Units (at market rent) = Gross Scheduled Income

C. Gross Operating Income (GOI)
GOI is gross scheduled income less vacancy and credit loss plus income derived from other sources such as coin-operated laundry facilities. Consider GOI as the amount of rental income the real estate investor actually collects to service the rental property.

Gross Scheduled Income – Vacancy and Credit Loss + Other Income = Gross Operating Income

D. Loan to Value (LTV)
LTV measures what percentage of a property’s appraised value or selling price (whichever is less) is attributable to financing. A higher LTV benefits real estate investors with greater leverage, whereas lenders regard a higher LTV as a greater financial risk.

Loan Amount ÷ Lesser of Appraised Value or Selling Price = Loan to Value

E. Debt Coverage Ratio (DCR)
DCR is a ratio that expresses the number of times annual net operating income exceeds debt service (i.e., total loan payment, including both principal and interest).

Net Operating Income ÷ Debt Service = Debt Coverage Ratio

DCR results:

  • Less than 1.0 – not enough NOI to cover the debt
  • Exactly 1.0 – just enough NOI to cover the debt
  • Greater than 1.0 – more than enough NOI to cover the debt

F. Cash on Cash Return (CoC)
CoC is the ratio between a property’s cash flow in a given year and the amount of initial capital investment required to make the acquisition (e.g., mortgage down payment and closing costs). Most investors usually look at cash-on-cash as it relates to cash flow before taxes during the first year of ownership.

Cash Flow Before Taxes ÷ Initial Capital Investment = Cash on Cash Return

G. Cap Rate
This popular return expresses the ratio between a rental property’s value and its net operating income. The cap rate formula commonly serves two useful real estate investing purposes: To calculate a property’s cap rate, or by transposing the formula, to calculate a property’s reasonable estimate of value.

Net Operating Income ÷ Market Value = Cap Rate

Net Operating Income ÷ Cap rate = Market Value

H. Time Value of Money

Time value of money is very important to consider when you invest. What is your money worth today and what will it be worth in the future if you decide to hang on to it. This the calculation you must make when you are thinking about how to spend and invest your money wisely.

Time value of money is the underlying assumption that money, over time, will change value. It’s an important element in real estate investing because it could suggest that the timing of receipts from the investment might be more important than the amount received.

To your success and your future.

Contact me if you are looking to start investing in real estate.

Back of the napkin underwriting, the 50 percent rule.

It goes like this. “Yeah we were having lunch and we were just talking about some ideas and started writing them out on the back of a napkin. And now we have this multi-million dollar company, brand, or product.”

All you need to know is what is the rent roll for a given property. If you can’t get the rent rolls, you can look also look at market rents and do an estimation.

Again, at this point in the process you are just trying to see if this particular property fits the criteria you are investing for. Your criteria and strategy for investing is something we have talked about extensively and you need to determine before looking at any properties.

So if you have the rent rolls, you now know how much income the property will or should generate. Once you know this number. Then you just want to subtract 50% percent of it.

50% is very conservative by most people. But when you add up all of the expenses such as maintenance, utilities, property management, cap-ex, etc. Then the money you have left over must cover your debt on the property and any remaining cash flow, if there is any.

You can do all of this on the back of a napkin. If you determine that this property may be a good fit, then you can take the next steps in the underwriting process and get into the details even more by getting the real data on the income and expenses.

So you would need to see the rent rolls and the T12. The rent rolls are the rents that the building are getting on each of the units. The rent rolls should include the lease date of each unit as well and in most cases the tenants name and information, even though that is irrelevant at this point in the process.

The T12 (trailing twelve): Is the income and expenses a property has had the last twelve months. You could also, get a trailing six as well, which would be the last six months. But you get the point.

Now that you have these two documents you can take the back of the napkin underwriting to actually underwriting to see if this a good deal.

The back of the napkin approach is a way for you to look at more deals and sift through them much quicker.

I hope this was helpful as you are looking at deals. Also, when it comes to single family home investing the metrics are not as simplistic. There rents as many variables and they can vary widely. We will talk more about these later.

To your success and your future.

Why your decision making is keeping you stuck

Several years ago, I read the best book I have ever read on human decision making and the two type of decisions we make.

One of the decision making types really doesn’t do much for you other than it helps you get through your day. The other type of decision is one that actually moves you forward in your life and your goals.

At the end of this article I have the link to the book and the author so you can check it out for yourself. I highly encourage you to do so.

Prevent Pain: One of our motivations and desires when we make decisions is to prevent us from having pain in our lives. It usually isn’t actual pain, like an injury. But it is pain from what happens when we don’t make that decision. These decisions usually are urgent.

Things such as brushing our teeth. This is a prevent pain decision because we don’t want to have bad breath and ultimately our teeth rot out. Taking the garbage out. Again, this is a prevent pain decision because if we don’t take the trash out the house will stink and our spouse might not be happy with us.

Doing the laundry, is another prevent pain decision. If we don’t do it we wont have any clean clothes. Changing the tires on our car. Following up with that email with our boss. Paying the bills.

Prevent pain decisions are simple little decisions we have to make every single day, or it can be infrequent but required when the need arises. Our life doesn’t change much when we make these decisions but they have to be made. If we don’t make them, things will eventually happen that will cause us a lot of problems.

Gain Decisions: Decisions that are driven toward producing more significant positive results in our lives and our business. Gain decisions usually aren’t required for us to make, because there isn’t a consequence for not making that decision like there is with a prevent pain decision. These aren’t urgent decisions.

Gain tasks are focusing on something you want. And like anything we want, we have to actually make time and invest resources in to getting it.

A few examples of this are writing a book, getting further education, spending quality time with our children, closing a big deal, investing in income producing real estate.  

Look at these examples compared to the prevent pain decisions and you will see a big difference. If we don’t accomplish the gain decisions, usually nothing happens, at least not quickly, but if you neglect to do them over time they could have significant consequences.

And this is what causes the problems in our lives and keeps us stuck.

We get caught up making the day to day decisions that are urgent and we never get around to making the bigger and more important decisions that will actually impact our lives significantly and move us closer to our goals we want to accomplish.

How do we start to make better decisions? To get more out of your life and to get out of the day to day decisions that are keeping us where we are, you have to plan.

Everything we do everyday can be broken down into three categories: Habits, To Do items, and calendar events. 

Habits:  Mostly influence parts of our life such as hygiene, health, eating, repeat spending, relaxing chores, emails, and rote tasks.  We don’t have to write them down, because we won’t forget to do them. These are typically prevent pain decisions/tasks.

To do Lists: Maintenance tasks that you don’t want to forget. Updating a file, sending out an email, checking in with a client, going to dry cleaners, grocery shopping, paying a bill. Again these are prevent pain items usually, because if we don’t do them it will cause us immediate pain.

Calendar: For things that are time specific: events, appointments, and anything you have to be on time for, whether it’s business or personal.

Use your calendar for Gain:

  • Anything on your calendar you will defend and protect.  You won’t skip.
  • Use your calendar to give your goals and better decisions the attention they deserve.

So if you want to get out of the constant cycle of making decisions that only affect you in the moment or the day, you have to start planning for it.

For new or veteran real estate investors, if you want to start investing in incoming producing real estate you have to make a decision to do that and put it on your calendar when you will actually make your first purchase, your second, or one-hundredth.

For those who want to spend more time with their children, but can’t find the time. You have to put it on your calendar when you will allocate time to do this.

The key and the point of the book is to get you out of the rat race of everyday small tasks, that won’t actually move you closer to your goals. Making better decisions is thinking about what it is you want to accomplish.

A goal.

And then working backwards to set aside the time to make the goal become a reality.

This is the key to making better decisions.

I wrote a summary of this book you can check out here.

But I highly encourage you to read the actual book you can access it at the link below.

Link to book: http://www.amazon.com/Decide-Smarter-Reduce-Stress-Example/dp/1118554388/

To your success and your future.

The criteria I used to create a million dollar portfolio with single family homes

As a new real estate investor a lot of questions may be running through your head. How do I know which property to invest in? What should I be looking at with each of the properties? And the list can go on and on.

To help you get out of your own head and get you on your way in to investing and accumulating wealth. I compiled a short list of things I thought about and still use in many cases, although my strategies have changed some, when I invest in income producing real estate and more specifically single family homes.

As we have discussed many times before. You first need to determine what is going to be your strategy for investing. Meaning, what are you looking for. Click here and you can learn more about each of these things, but I will quickly outline them for you.

Are you investing for cash flow, cash on cash return, appreciation, tax benefits, etc, or a combination of all of it. By knowing specifically what you are investing for it will help you to look at the right properties and stay away from the ones that don’t fit.

Early on in my investing my criteria was pretty simple:

I had a picture of the type of person or persons that would be renting the place. Typically a two parent household, making about the average household income, and either one or two kids. Or a single mother/father with two kids making less than average household income and could afford one of my places.

I wanted my properties to be in line with what it would cost them to rent a b-c class apartment (to learn more about classes click here), but what they really wanted was a house and would be willing to pay a little more than they would in an apartment to get one.

Specific criteria:

  1. The rent collected had to be double the amount of my mortgage.
  2. Back then and even for the most part now, I want the rent to be at least 1% of the value of the home each month. See here for more information on the 1% rule.
  3. The property had to be in an area that I wouldn’t be afraid of knocking on the door and collecting the rent.
  4. I wanted to be able to get my down payment to be paid back with in two-three years. Ex: If I had to pay $10,000 down, then I wanted to get that amount back before the third year was up.
  5. I preferred houses built on a concrete slab.
  6. No basements.
  7. 3 bedrooms and 1 bath was an absolute. These are way easier to rent.
  8. Not located on a very busy highway.

I had a few other less subjective things as well. Things such as nothing weird about the lot of the house or the layout of the house. I wanted it to be simple. You can be amazed how some of these older houses just have weird configurations or even things built in to the home.

I also preferred no very large trees close to the house. Trees can become very costly to manage and especially costly to get torn down.

Would I compromise on any of the criteria? Not really. Now you have to analyze each deal individually, but the purpose of the criteria is to help you not get paralysis from over analysis. You can’t look at everything. So by coming up with a criteria and a strategy it helps you, your realtor if you are using one, and lastly it helps you make decisions quicker.

As you can see by my criteria, I am really looking at cash on cash return. I want the downpayment back pretty quickly and the only way you can get that is with a great cash on cash return. With cash on cash return, I am investing for cash flow, not extreme cash flow, but I want it to carry my mortgage and all expenses with the property and actually have some cash left over to use.

I used this simple strategy and criteria for close to ten years of investing and I still use it when I am looking at single family income producing real estate.

If you are currently an investor, what is your strategy or criteria?

If you are new and haven’t bought your first property yet, what are you thinking?

Please share in comments.

To your success and your future.