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The Property and Lending Show
The Property and Lending Show
Inflation Insights and Loan Hacks: Unleashing Property Prosperity
🎙️ Welcome back to "The Property and Lending Show," where we untangle the complexities of real estate and financing to empower your property journey. I'm Kyrillos Mansour (KM), your Buyers Agent and host, joined by the brilliant minds in the industry - Fadi, Mark, and Peter.
Overview:
In this episode, we dive deep into the recent inflation news and share invaluable insights on navigating the challenges it brings. From market trends to practical strategies, we've got you covered. Plus, stay tuned for some expert loan hacks that will help you secure better rates and unleash the full potential of your property investments.
Key Points:
Understanding Inflation:
Kyrillos Mansour (KM) breaks down the latest inflation news and its impact on the real estate market.
Insightful discussions with Fadi and Mark on how inflation influences mortgage rates and property values.
Loan Mastery Strategies:
Fadi and Mark, our seasoned brokers, share their top-notch strategies for securing the best loan rates in a dynamic market.
Peter, our Asset Finance expert, weighs in on innovative approaches to financing your Asset ventures.
Conclusion:
Join us on this insightful journey as we navigate the seas of inflation, uncover loan mastery strategies, and unleash property prosperity. Don't forget to subscribe, rate, and leave a review! Your success in real estate starts here on "The Property and Lending Show."
Stay Connected:
If you would like to get in contact with Mark, Fadi, Peter or KM you can find them here:
Mark@powerloans.com.au
Fadi@powerloans.com.au
Peter@powerloans.com.au
hello@firstbrick.com.au
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Hello. Welcome back to another episode of the property and lending podcast. Today we have Peter Georgie joining us to discuss finance of the asset type. We have Fedi Yusuf, as always myself. And we almost didn't have our superstar. This podcast wouldn't be anything without him, Mark Collada, who decided to rock up seven minutes late and waste another six minutes of our time waiting for him to close like 15 deals or something. So while we were waiting, we decided that as punishment, you have to tell us your feelings for at least 1 minute. So we're going to cross over to you, Mark.
Mark Kilada:Firstly, I do apologize that I was late, as you know I do for my clients first. So did need to get those through ASAP. I don't know what you guys personally do with your clients, but me, they come first. So yeah, I apologize for that. But I've been well otherwise, looking after the clients, as you can imagine. So no complaints and nothing new here to report back to you.
Kyrillos Mansour (KM):Thank you for that, Mark. Very concise as always. Yeah, we would be lost without you. So we'll just jump into it because we're going to try and keep our episodes a bit shorter. So we had some news come out a few days ago or yesterday around inflation, so we thought we'd discuss inflation and what does that mean in terms of interest rates and what can people do to be better off so really quickly? Rundown. There was news the other day that came out indicating that our inflation, Australia's inflation rate is now around 5% and it's looking like it's going to continue to decrease. Global inflation rates are around 3% across most industrial countries, and supply pressures are easing. Sorry, supply pressures easing as well as demand pressures. So allowing more global trade, a lot more movement in the economy. And so it seems like inflation will be coming down and as a result, logically, you should see interest rates also hold and eventually start reducing as well. So that's the nutshell of the news of what's happened in the last couple of days, if you were not aware. What we want to really know is what does that actually mean for people? What does it mean for people that own properties and people that are looking to buy properties? And then as well, what we might do, might ask Ferdi, what does this mean for people who currently own properties and what can they do to put themselves in a better position? But I'll go to mark about people who don't own yet but want to buy, and then we'll go to peter for assets.
Fadi Youssef:Okay, so is this in regards to interest rates yeah, the whole show is. So with the current customers who have current existing loans at the moment, I think the best way to try and improve your interest rates to always if you've gone through a broker initially to get your home loan to get in contact with your broker, because it's very simple for us to actually apply for a pricing discount for you. Most banks, everything is done online through the portals. If not, we can actually negotiate your rate with your current lender as well over the phone. In most scenarios, if you've gone into the branch, it may actually be a little bit more easier. And we actually have a few pro tips for our customers in regards to how to reduce that interest rate. So one of the first things we request our customers to do is actually request for a discharge form from their current lender that shows their current lender that they are serious. And we wouldn't ask our customers to request that discharge form unless we've actually done an assessment on their current situation. To make sure that if their current lender aren't able to come down or bring their rate down, or at least match the rates that are actually on the market at the moment, they'll allow to move on to refinancing to another lender that will basically give them a lower rate. Most scenarios you get a cash back offer as well. And I think the biggest kicker in regards to this pro tip is you get further discounts with the less you owe the bank and the more your house is valued. So that is called, like we've discussed on this podcast a number of times, the loan to value ratio what you owe to what your house is actually worth. So usually at 80% you're always up for the better rates. As you go down below 70%, 60% and also 50% you're also given further discounts. So that's one thing. It's pretty simple. Visit on thehouse.com au contact km to find out or a rough figure of how much your property is really worth, or contact your broker to run evaluation as well. That's something else we can do, but you can also go on the onthehouse.com dot you to have more of a rough figure of what your property is actually worth. Get what you owe, divide that by the worth of the property and times by 100 that will give you your OVR. If your OVR is below 80, 70, 60 or 50%, you do get further discounts and that's something that you'd be bringing up with the conversation with your current lender in regards to reducing your rate. Tell him you've seen a broker, brokers come out to see you. He's actually notified me of better interest rates on the market. He's also notified me that because I owe less on my property to what my property is worth, I'm actually eligible for further discounts. Why am I not on this rate at the moment? I mean, in some scenarios too, if that current bank is offering a cashback offer, we always encourage our customers to also request for that cashback offer as well. But any questions or tips in regards to how to do this or move forward with this, just reach out to either one of us at power loans, or reach out to your current broker or if you went through the branch. I've always said this to all my customers. Banks are constantly doing our heads in and increasing rates. All we basically need to do is vice versa do the same thing, do their heads in, negotiate, go above and beyond to try and get the lowest rate possible, even if it's by 0.1. I'd still be fighting for that as well.
Kyrillos Mansour (KM):With the recent news regarding inflation and what it potentially means for interest rates, do you have any recommendations? Not advice, but recommendations regarding fixed rates or variable rates at the moment for people who currently own properties, should they be looking at fixing, should they definitely be keeping on variable, especially if they're anticipating drops? And if they are already on variable, do they have to do anything? Is it just going to come down? Is there any recommendations around that?
Fadi Youssef:That's a good question. So in regards to the recent news, when it comes to fixed and variable, it really comes down to what the customer really wants because we still had some customers that went for the one or two year fixed, even though they're a little bit more higher than variable. But it just gives them comfort that their next two years or next twelve months, they've got a fixed figure of what they're going to be making repayments for. We haven't seen too much in regards to fixed interest rates only because they are slightly, a little bit more higher. We've seen a lot of customers go up to variable, but it really comes down to what they're more comfortable with. Some customers like, no, I want to stick to variable because I want to make extra repayments. I want to pay down the loan. And we got customers that are looking okay. Actually the fixed rate is actually not too bad and it allows us to actually budget and forecast for the rest of the year or over that fixed period time. But of course, what we saw during COVID with the fixed rates quite low compared to the variable. A lot of people took advantage of that. So it really depends on what you really want in regards to the loan, and it also differs from owner occupied to investment. So again comes down to that strategy and structure that we discuss. But when it comes down to fixed and variable, it really comes down to what the customer really wants. Are they looking for more budget? And they want to make sure that the next twelve months or the next 24 months they're going to be able to make those repayments and they know what the repayments are going to be. It's not going to change, it's not going to go up, it's not going to go down. Now, in regards to the news that we've heard recently, you'd like to think that your bank really cares about you and they're going to notify you of any interest rate decreases and you'd like to think they're going to apply that discount the same way they apply their interest rate increases. Unfortunately, that's not always the case. So if you do see well the good news, if you're a current power lines customer or future like Mark also, so we're constantly in communication with our customers every three months to make sure they're on the best interest rate. And we always encourage customers to get in contact with us if they believe they can be on a better interest rate. But when it comes down to that, if you see interest rates going down, check your online banking app. If it hasn't, contact the bank, contact your broker ASAP because I can guarantee, and I think we see this on a daily, the bank is not going to contact you to notify you of a lower interest rate because it doesn't really benefit them at the end of the day. So that's probably the biggest tip. If you do see interest rates coming down, if you're at a barbecue speaking to friends and they've got lower interest rates, contact your broker, contact your bank, and definitely fight for that. And the biggest kick I'd always have to repeat is double check what your loan to value ratio is, which is your LVR, because the lower your LVR is, the further discount you'll receive.
Kyrillos Mansour (KM):Amazing. Thank you for that. Now, Mark, I guess same question, but if someone doesn't own property yet and they want to purchase, what is the recent news regarding inflation? What does it mean for them? What should they be doing? Is it a better time for them now than it was six months ago? Should they wait? Should they go in for it? What's going on?
Mark Kilada:I think for that question number one, look back for all the listeners that are looking to get into the market either for the first time or continue their journey. Definitely watch last week's episode. I was just talking to a client about it where we went through all the data and what that suggests moving forward for this year. So I definitely would go back and watch that. But yeah, any promising news like this gets more and more people with itchy fingers on realestate.com scrolling down and looking at what's on the market. Unfortunate to people aspiring to get into the market, but fortunate for anyone that's an existing homeowner. When you look at the graph for the last 40 years of australian property and the prices there over the last 40 years, you'll see that it has always trended upward as long as you're buying a good asset. Which is why we always recommend to go to KM at first brick to pick a quality asset. It will not depreciate over time. It just doesn't. When you look at the last four years, historically, it doesn't. So because of that, we always encourage people to get in as soon as they can. And the way they will know if they can or not is by checking in with a broker to tell them, here's the deposit or equity that I have. Here's my financial position. Can I borrow? How much can I borrow? But there's never a bad time to buy property in Australia. Whether the market's going up or down, this news is just providing further fuel to bring in more and more buyers, which is going to cause an excess in demand which is going to further increase the prices. So absolutely would get into the market now as opposed to waiting. Because every month that we wait, any further news that's going to be more and more promising, the more and more people are going to be beating you in the market. And like we said last week, I think KM said as soon as we see that first rate decline that we're expecting in the second half of the year, there will be a huge influx of buyers. So I definitely would start the process ASAP to get into the market and buy a quality asset to see the future growth.
Kyrillos Mansour (KM):Yeah, for sure. And I think I saw the consumer sentiment levels are only like two points below where we were prior to Covid. So like at the peak, which is a big jump since end of October, November. So it shows people are feeling more confident with their finances and more confident in the market. And we're going to see a lot of people taking action, I think especially lots of new investors we've been really busy and it's only been ten days of the new year, pretty much. And all of them new buyers, new buyers have been saving up throughout the last couple of years. I'm just ready to jump in. So for sure, I agree. I was going to ask Mark, in terms of the current two questions. In terms of the current rates currently, what are people expecting around? What are the banks offering rough for a vanilla loan, what are the current rough rates? So people can have an idea. And the other thing is, when it comes to structuring the loan, especially for new investors or new purchases, is it always about the rate or are there other things that we need to consider for these new purchases?
Mark Kilada:Yeah. So first part of the question, the current rates, there are a few things that determine your rate. So no two people, even if two people go in both looking to buy the same property, they could be given different rates, and that happens all the time. So feedy mentioned the LVR. So the loan, compared to the value of the property, the higher that ratio, the higher your rate. Just the way it is. If you're buying north of 80% and there's LMI involved, there's usually a 0.3% rate loading on your rate. So usually 0.3% higher. If you're above 80% LVR with a bit of an asterisk there, because if you are an accountant, a lawyer, physiopodiatrist, doctor, dentist, speech pathologist, radiographer, sonographer, all of the medical professions that get an LMI waiver. If there's no LMI on your loan north of 80%, with certain medico banks, we still get the same pricing as if you're at 80%. So that's a reduction of 0.3%. If you're just buying, let's say, for example, just. I can give you a number because I know it's annoying. I'm going in circles. If you're buying an 800 grand property to live in nowadays, you're probably sitting at about 6.25, give or take 0.1% between the banks. That's principal and interest, owner occupied, 80% LVR. If you're buying an investment property, principal and interest, again, 80% LVR. So you've got a 20% deposit there, or you're refinancing at 80%, should be expecting somewhere between probably 6.44 to 6.54. Generally where the banks are at the moment, the smaller banks are a little bit cheaper, and some of the big banks actually were able to bring them down. Every bank sort of has their season, which is what Ferdie always says, which is very true, because some of the banks that were the cheapest few months ago are now banks that we barely touch. And banks that we used to never touch are banks that we're going to a lot nowadays. So it's important to have your options through your broker. So LBR is important to get to calculate your rate. The loan amount also is another factor as well. So if you're getting a loan for $200,000 or$400,000 as opposed to $2 million, obviously the profit the bank is going to make from you is a lot less if the loan is lower. So naturally, the bank is going to give you a little bit of a better rate if the loan size is higher. The third thing is the banks look at the total aggregate lending. So if you have multiple properties with the same bank, so your total lending with the same bank across multiple properties for the same borrower. So for you, under your name, your trust, your company, you as your first name, whatever it is, the higher that goes. Generally speaking, the more bargaining power we have when we negotiate with banks, because again, the more they make from customers if their loans are higher. So, loan size for the actual transaction, the LVR and the total aggregate lending, are the three things that determine your rate. And those figures that I gave before are the current rough rates. At the moment, they do differ depending on the LVR and other things we spoke about in terms of structure. It's funny, because everyone always says, I want the best rate, and obviously everyone does want the best rate. It does minimize your minimum monthly repayments by doing so. But it's important to understand what you might be leaving on the table. I'll give you an example. One of the small banks nowadays is doing 0.1% reduction on the basic variable, home loan. You don't get an offset account, even the redraw facility. With this particular bank, it's a bit of a process. To get funds out of the redraw facility, you need to fill out a form, you need to call a number. It's not just transferring on the app. Okay. If you pay 0.1% more, which is still a great rate nowadays for this particular bank, you do get an offset account, and you get a 100% offset account, even though it's 0.1% more. It's very rare that I ever recommend someone get the basic variable home loan for two reasons. Number one, if you have a 700 grand loan, for example, and you've got 70 grand, that you will have sitting in savings. That's 10% of your loan that could be getting offset if you have it sitting in the right place, which is an offset account linked to your loan or the redraw facility, which either one. That 10% of your interest that's getting offsetted is getting you a lot further ahead in your mortgage to pay it down faster compared to if you had a 0.1% reduction on your rate. So rate is not everything. Structure is very important. The other thing as well is by being on the package, which gets you the offset account, which is usually roughly 0.1% higher, we have more bargaining power when it comes to repricing. If you're on a basic home loan and six months later, twelve months later, you give us a call and you say, hey, I want to check on my rates. And we can see that there's more competitive offers in the market. Your bank is probably going to tell you you're on the basic variable home loan. We don't price this product. If you're on the package, we can reprice you and bring you down further. So, in fact, in the future, you may actually be on a lower rate because you initially took the package, which resulted in a 0.1% increase. So definitely need to look past the rate. At the bigger picture, you need to ask more questions like we always ask questions around. After you get this loan, how much is going to be sitting the offset? Do you plan on leaving it there? If so, this structure is going to save you. Don't worry about the 0.1% because the difference in the repayments might be $20, but you might shave off seven years off your home loan just by having an offset account without making extra repayments. Makes a big difference if you're structured well. So yes, structure definitely very important. And current rates depend on those three factors, LVR loan size and total aggregate lending.
Kyrillos Mansour (KM):Beautiful. Thank you. 100% structure and offset accounts. And people get very bogged down on the final percentage of the interest rate, but they don't look at the big picture and probably costing them more to be on the cheaper ones a lot of the time.
Mark Kilada:Sorry, I was going to say there is actually one more structure that we like to recommend as well. So if you have an own occupied loan and you have an offset account with a lot of funds sitting there, so let's say, for example, you have an 800 grand home loan, $400,000 sitting there, that you're going to start deploying into investments and sitting in your offset account. Speak to your accountant. Obviously this is not tax advice. We can't give tax advice. We're not licensed accountants. But if you were to put the funds from your offset account inside of the redraw facility, that 400 grand coming inside the regional facility, which is inside of the actual loan product, when you come to take those funds back out, because the intention is for investment purposes, because you're going to buy an investment home loan. You're going to buy an investment property. Sorry. Your accountant may find and may tell you that even though it's an owner occupied property, because the intention of the funds is for investment purposes, you may be able to seek that tax deduction. Obviously, it's case by case, and then just contact your accountant. But from what I understand, the ATO goes through the intention of the funds, not the asset that it's actually secured against.
Kyrillos Mansour (KM):Tax advice there from Markalato. If you have any problems, sue him.
Fadi Youssef:Just to add to Mark's point, you brought up a good point as well in regards to, let's say, for example, we have a lot of customers that have owner occupied and investment properties. Now, we do have one lender out there that we can't name for compliance purposes, but we do have one lender out there that if you have an owner occupied property and a few investment properties, if your owner occupied property is larger, is it a larger amount than your investment properties? You'll actually get owner occupied property rates on all your loans. On all your loans. This is something that's a bit of a niche. Not a lot of people know about it. But if you have an owner occupied property, and as long as that loan is larger than all your investment loans put together, you're actually going to be given owner occupied rates on every single loan you have. Which is a huge difference and a huge savings, in my opinion. And we've done it for a couple of customers. As soon as Mark said the owner occupied investment man. How we have not mentioned this before is that that's one of the niches that we have and one of the lenders. And there's only one lender out there that does that as well.
Mark Kilada:Yeah.
Kyrillos Mansour (KM):That'S very cool. And just to clarify, obviously Mark was not giving out tax advice. I can see the sweat coming down his face. I don't know if we have time. Peter's been sitting here quietly and we wanted to get to assets. But Mark started late with us and he spent 3 hours talking by himself without letting Peter get. Now we jump to Peter. Peter, can you tell us around the asset finance world what does this recent news mean what's happening in terms of interest rates and regarding existing clients and potential new people, new purchases. What's the story? What's the news?
Peter Georgi:Interest rates and asset finance. It's extremely widespread. So you can have your best clients coming in, new clients at about 7% or like between seven and 8%. And if you're buying an electric car, it's between six and 7%. It's kind of your best case scenarios. And people who have defaults, which we can still assist, they're at sort of the 15% to 20%. So it's such a huge spread in interest rates. But yeah, for existing customers, with this news of rates going down this year, towards the second half of the year, I always recommend people always double checking their rates. Even people who have gotten rates, I mean loans in the last twelve months to always just check with your broker for a rate review. Give us a call for a rate review. Because there are always lenders out there who don't have certain fees that will be saving you in your monthly costs every month. And the interest rate, as Mark was saying, for mortgages, it applies in the same way for asset finance. So the interest rate isn't everything. It only makes a $10 $20 a month difference. But if we're saving you on documentation fees, application fees, makes a huge difference in your monthly repayments. Because at the end of the day it's what comes out of your bank account every month.
Kyrillos Mansour (KM):For sure. And just because you're not on with us every week, in case someone's a new listener, do you want to just explain what. Thanks Fetty, for muting what you do. Hold on. We're getting a lot of feedback from you and Peter. I always blame Fetty, but it's actually you. But do you want to just explain to our listeners that what you can actually help them finance as opposed to. So Mark and Fetty, obviously on the property side. What does asset actually entail? Is it just cars or is there more to it?
Peter Georgi:Yeah, asset finance. It's anything with wheels. I like to say McLarens as Mark Cloud is soon buying mclarens. Helicopters, boats, jet skis. Also any business equipment. So cranes, excavators, anything that can be deemed used for business equipment we finance over here at power loans. So yeah, anything you can think of. Really. That's not a house. Did you want to say something?
Fadi Youssef:Yeah, since we're talking about interest rates, I wanted to ask Peter because I think we saw this a know coming out of COVID or towards the end of COVID We saw a lot of variable interest rates of car loans where a lot of our consumers were actually used to that fixed interest rate for five years or seven years, whatever it may be. But I know a lot of the customers have come to you. Some of them have been taking the variable option. Will we see that variable option go down as well as the rates come down? Or is that something that they're going to have to contact Peter and say, hey, Teddy, no, I can see the rates are going down as well. Am I eligible for that rate decrease as well on the car?
Peter Georgi:I've seen a couple of people inquiring about variable loans recently, so there's always a buffer between fixed and variable, as I'm sure it is in the mortgage world. But as they go down and with the second half of the year, rate is going to be going down. So, yeah, people are taking it towards the end of the year. I think it's an amazing option. Not advice, just recommendation. But yeah, I think it's huge. Like people starting to inquire more about variable. We didn't really have many people inquiring about variable because everyone just wanted to really fix their repayments and have certainty of it. But with this news and the forecast of rates going down, I think it's definitely a huge or really good option.
Kyrillos Mansour (KM):Yeah. Beautiful. Before we get to our last part, boys, anyone have any other questions for anyone else? Or any final questions or should we. No one unmutes. I'm going to assume we're good. All right, so we're starting a new segment. Ferdy comes up with all these nice segments, and it's called Tip of the week. I heard Fetty's tip of the week before the episode started, and it was pretty much this entire episode. So I'm not going to start with Fetty, so you can think of something different. We'll start with Peter. We'll give Peter the floor. And, Peter, do you want to give everyone your tip of the week.
Mark Kilada:For.
Peter Georgi:Business owners this week, don't forget about the instant asset write off. I know it's 2024 already and times flying. It's June. Will be here. Closer than you think. Unfortunately, they've reduced it to 20 grand this year. But still, it's a $20,000 instant asset write off for businesses. So if there's any eligible business asset or equipment that you want to write off for tax purposes, get in contact with us. Happy to have a chat.
Fadi Youssef:I thought I was going to be last. I can think about my pro tip. I gave it away at the beginning. I guess one of the main questions that we always get asked is how can I pay my home loan down faster? That's another question that we're always getting. One of the tricks that we can do, you can move to fortnightly payments, weekly repayments, where you're making a lot more repayments per year, but you're also paying a lower interest per year as well. So instead of making the monthly repayment, we're making one repayment per month and you're paying for, they charge the interest at the end of every month. Everyone for home loan can see at the end of the last of every month they're getting charged the interest. But if you're paying down your home loan weekly or fortnightly, it makes a difference. It makes a big difference to your home loan repayments and the amount of interest that you pay. And also going back to, I guess Mark's pro tip that I want to take now that I was discussing during the episode was in regards to the offset account, having that offset account attached to the home loan, any money that's in that home loan. And I guess I think we'll be doing a post today from the power loans from our new broker. I'll leave it for him. But in regards to the offset account, the more money you have in there, and this is something I say to my customers, have as much money in your offset account at the end of every month because that's when the bank charges the interest. So if you have all your wages, all your salaries, everything, rental income, if you'rental incoming in anything that you have in savings, have that in that offset account and have it in there by the end of every month when the bank charges you the interest. So you can show a higher figure and pay a lower interest on your home loan.
Kyrillos Mansour (KM):Mark, I always look forward to time you're on screen. Do you have a tip of the week?
Mark Kilada:I do, yeah. Thanks for giving us time to think about it. So just the comments that I have had with a few clients now. I find that when people are trying to move out of their family home and buy a new family home, they don't consider selling their initial family home. So for example, if you, I have a client at the moment who has a prop, has an apartment in an area which has a bunch of high rise buildings. So that apartment, when you look at it, is not a great investment grade property. But when she's talking to me about buying the next property, there's no thought about, let's sell that initial property. The government is very good at collecting tax. This is not tax advice, but when you sell a property that you've always lived in, it's an own occupied property. It may be the only time in your life you get a capital gains tax exemption. So you might be able to keep that profit. Tuck it down on your next property, which may mean a lower loan on your next property and may mean that you can get there sooner by retaining those profits tax free. So if you have bought a property that you're living in, especially if it's an apartment and it's not an investment grade property, try not to be too attached to it when you're looking at buying the next one, because that could be holding you back, holding your borrowing capacity back from really expanding your portfolio.
Kyrillos Mansour (KM):Beautiful and concise as always. I've got two tips of the week. The first one is pretty much from last week's episode and carrying on to this week with the news. If you're on the fence and if you're thinking about it, this is the time to get in. And I made some videos and I'm trying to be really direct and clear with my message. I'm not beating around the bush. This is the time to get in because we're going to see some price movements and they're going to happen fast. We're looking at the data and what we used to be buying for under 400, 500 grand. These areas don't exist anymore. Where we used to just move into Perth or Adelaide, these areas don't exist anymore. So especially the sub 400 and 5500k regions or price point, it's really difficult. And then between the 500 to 800, very competitive, so it's going to go crazy. I said a few times last week, blood in the water, someone told me the saying is actually it's a blood bath. Pretty sure they're wrong, but I'll say it's a blood bath just so they don't get angry at me. But if you're on the fence, call your brokers and get your finance ready. Evan, do it yourself. Give us a call. Doesn't matter. But this is the time to really be really focused and ready to jump into the market. That's my first tip. My second tip is if you have a meeting scheduled, it's always good to put an alarm on your phone, like maybe ten minutes before the meeting is supposed to start. Mark. And if you need a new phone or something that has an alarm function, you can go to Peter for the finance, just so we can always start on time. That's my second tip for the week. Anyone else have something to add or are we good to end like that? Beautiful. All right. Well, thank you as always, guys. And thank you, Mark, for making time for us today. And we'll be back next week. And if anyone's got any suggestions on topics or questions, please send them in and we'll, we'll do a recording. Thanks, guys.
Peter Georgi:Talk soon.
