How one can Hold Tariffs from Derailing Your Renovations (Rookie Reply)

Ashley:
Welcome to a different episode of Rookie Reply. At present we’re diving into the altering financial panorama from weighing the viability of the Burr technique in at this time’s tariff surroundings to navigating final minute buy settlement surprises that would value you hundreds of {dollars} proper earlier than closing. Welcome to the Actual Property Rookie podcast. I’m Ashley Kehr. Tony’s out for the day, however Garrett Brown from Larger Stays is right here to assist out. Thanks a lot for becoming a member of us at this time, Garrett.

Garrett:
All the time excited to be right here. I’ve some massive footwear to fill with the person, the parable, the legend, Tony being gone, however I’m comfortable to be on this episode and speaking about all the pieces happening. At present’s questions, we’re highlighting the actual challenges which are occurring for actual property traders all around the US and we’ll speak via how rising materials prices are remodeling actual property investing going ahead and what to do if a vendor needs to vary the contract three days after it comes up for you. So it’ll be one at this time.

Ashley:
Yeah, so let’s begin with our first query, and that is from Mark Younger and this query was pulled from the BiggerPockets boards. So Garrett, it is a nice query for you as BiggerPockets, short-term rental professional. His query is, I’m shopping for my first short-term rental trip house, ought to I take advantage of rabu? Okay, so it goes on to say I’m trying to purchase a short-term rental trip house round Destin 30 A. Has anybody had expertise with utilizing rabu? What was your expertise? Do the numbers work on their website? I’ve $100,000 to place down. Any recommendation could be appreciated. Okay. Nicely, Garrett, coming from the world of long-term leases, what’s rabu?

Garrett:
Rabu is, I’m positive there’s fairly just a few of them on the market, however there’s just about three or 4 foremost short-term rental information websites on the market that you just’re capable of see what sort of numbers some properties could make for you, what completely different markets and areas are doing. Rabu is among the good and outstanding ones which were on the market. There’s additionally Air DNA Worth Labs is one which I notably like lots, after which there’s Mash Pfizer as effectively. These are in all probability the massive core 4, however there’s a number of information on the market and I extremely suggest researching ’em. I believe just a few of the issues to unpack there as a result of lots to consider as you’re doing that. I all the time Avery Carl, who is among the queens of short-term leases on the market, she loves the 30 A market. She’s a fantastic useful resource to in all probability be taught slightly extra about that specific market.

Garrett:
I don’t know as a lot about it, however I’ve heard sturdy headwinds over there. It’s one thing that you just undoubtedly want to concentrate on your insurance coverage prices earlier than you even think about that market as a result of Florida is understood to be form of the insurance coverage desert at instances. Now you need to use one thing just like the Steadily insurance coverage calculator that’s on BiggerPockets as effectively, that you could sort in your deal with and see what these potential prices could also be. That’s an enormous think about Florida. After which as you’re form of penciling out a few of these numbers, I even helped create a BiggerPockets STR calculator. It’s primarily a really strong spreadsheet that’s going to have all of the bills you could possibly count on for various short-term leases, easy methods to calculate your long-term development inside it like 10 years from now, how that funding’s going to play out for you. And you will get that at BiggerPockets as effectively underneath their STR calculator part.

Garrett:
These are going to be two actually good sources that reside on BiggerPockets that will help you form of refine a few of these numbers. I’ve heard nice issues about 30 A, however you probably have 100 Ok to place down, that’s a fairly substantial chunk of cash that you just in all probability can discover some good investments on the market in just a few completely different markets. So it’s important to take into consideration your life-style and with this as effectively, do you reside close to 30 A? Is that this going to be a very distant rental that you just’re managing or is that this a market that you just like to go to? And also you’ll be capable to get some worth for that from your loved ones as effectively whereas having an funding that’s paying for itself and supplying you with that life-style profit. It’s form of powerful to say, however my rule, should you’re pondering you could have 100 Ok, you in all probability ought to be searching for a market that you just’re in all probability going to have the ability to get into for about 300 to 400,000 since you’re going to in all probability should put about 20 to 25% down on that and also you’re nonetheless going to wish some leftover to do among the furnishings and issues like that.

Garrett:
So should you’re not seeing something within the 30 a market, there’s just a few different markets on the market too that in a seashore space may be capable to fit your wants so you may dive into a number of completely different ones. Issues like Corpus Christi, Texas is a market that I’m slightly bit bullish on for having an inexpensive place, however nonetheless having a number of company touring there. Texas has among the greatest feeder cities within the nation. There’s even different ones like Charlottesville, Virginia is one other actually good one which I’ve seen developing lots too. So I’d simply weigh some completely different choices and use these instruments in BiggerPockets and resolve what your precise objectives are. That’s the cool factor about actual property is it actually comes right down to what you need and what you may make out of it and what works greatest for you.

Ashley:
Yeah, that final assertion you simply mentioned is it actually comes right down to you as a result of so many individuals may inform you that, yeah, it is a nice market or no, it’s not. And simply within the instance of mud, Dustin, Florida, you mentioned Avery Carl Investor. I actually noticed a reel this morning the place she was being interviewed by Mikey Taylor and he was asking her, what are your favourite markets of 2025 for brief time period leases? And that was one in all them that she listed, however I used to be simply on a podcast with Henry Washington and Dave Meyer and Henry Washington went, okay, I’m three. Me and Dave are going to say what market we’d by no means ever put money into or what state we’d by no means put money into. They go 1, 2, 3, and each mentioned Florida, they wouldn’t purchase something in Florida, but additionally they’re probably not short-term rental traders. They do have short-term leases, however that’s not their main funding.

Ashley:
So I believe it undoubtedly does rely in your objectives like Garrett mentioned. One different factor so as to add, thanks a lot for together with that short-term rental evaluation calculator. We’ll add these into the present notes for you guys, or should you’re watching on YouTube, we’ll put it into the outline so that you guys can get entry to that. Additionally, go into the BiggerPockets boards and arrange key phrase alerts. So you may put a key phrase in for Destin. You may put in a key phrase alert for Florida. Each time anyone mentions that market, you’ll get an alert and you may go and see what individuals are speaking about. Is it optimistic issues, is it destructive issues? So I try this for the markets that I make investments into, and so I’ve buffalo in there and from time to time is definitely anyone speaking in regards to the animal buffalo, however more often than not it’s in regards to the market. In order that’s simply one other tip that you could add in there.

Garrett:
Yeah, these are nice sources. I’ve Houston as one in all mine too, and other people will pop up issues on a regular basis. That essentially isn’t for me, however I’m the primary one there once I see that phrase. So it’s good observe for you for positive.

Ashley:
Okay, effectively we’re going to take a brief break, however we’ll

Ashley:
Be proper again after this. Okay, welcome

Ashley:
Again. So Garrett, what’s our second query at this time?

Garrett:
So the second query comes from the BiggerPockets boards. Ought to I rethink utilizing the Burr technique as my entrant technique given the tariff surroundings? And she or he principally says, hiya, I’m the rookies of rookies having joined the group final week, I’m presently saving to put money into my first property. I work, so all cashflow shall be in reinvested to construct my portfolio. I want to buy a multi-family property for long-term rental market, nonetheless undecided as I’m studying. I’m very within the burr technique, however I’m questioning if that technique shall be unrealistic within the subsequent six months given the price of supplies and probably labor that’s projected to extend. Ought to I be rethinking my technique as a household of 5? We aren’t concerned about home hacking, so I’m concerned about studying how different traders are approaching this new financial panorama. It’s lots to unpack there and he or she undoubtedly places out some legitimate factors. So I’m form of curious of what you consider that query and the place your head form of went with that. Ashley, as you heard it,

Ashley:
To start with, Danil, welcome to the Ricky group. We’re so glad to have you ever part of this and probably the greatest issues you are able to do as a rookie is definitely host within the boards and inform individuals what you’re trying to do and ask questions. It’s one of many quickest methods to get your questions requested by different traders. So yeah, ensure you’re not, should you’re not already, ensure you’re on biggerpockets.com within the boards. So with this query, the very first thing that I really considered is, okay, what are different methods to save cash? So if repairs are going to value extra due to the fabric value from tariffs, what are different methods that you could make your deal extra inventive? So a technique is to make use of a 0% curiosity bank card the place you’re not utilizing your personal capital, you’re utilizing the bank card otherwise you’re not utilizing a tough cash lender, you’re not utilizing non-public cash the place you’re paying curiosity on it and also you’re saving cash within the deal as a complete.

Ashley:
In order that approach you could have extra room to spend extra on supplies due to that, the subsequent factor is to get a number of bids as a result of the labor value, you’ll be capable to management extra materials prices are tougher to fluctuate, however labor, I simply bought a quote for siding on a property. The primary quote I bought was $21,000. The second quote I bought was $12,000. Actually a drastic distinction and I nitpicked each quotes I went via to verify they have been comparable apples to apples and that I wasn’t getting this low cost off a market model of siding or no matter. However that’s one other factor you are able to do is just remember to are actually getting a number of quotes and that you’re getting the perfect worth for labor and supplies too. One in all my favourite issues to do and particularly once I’m doing an enormous rehab like a flip or perhaps even only a turnover in an condominium is use a bid room.

Ashley:
So I take advantage of Lowe’s primarily simply because it’s nearer to most of my properties, however House Depot additionally has this the place you go in and also you create your purchasing record and you may electronic mail it or you may take it proper into Lowe’s and say, these are the gadgets I need to purchase, and so they’ll really go in there and they’ll form of work via the numbers and offer you a reduced worth. In order that they take it and so they store different locations to make it possible for they’re supplying you with the perfect worth. So for instance, the final turnover we did, we have been spending about $4,000 and after we introduced it into Lowe’s of what the supplies have been, we bought $800 taken off of it. That may be a important quantity of financial savings. So ensure you’re doing a few of these methods to get the perfect deal in your supplies, in your labor and the deal as a complete.

Ashley:
The easiest way to save cash is the acquisition worth. In case you don’t suppose the numbers will work out due to tariffs and the rise in supplies, which means you’re going to have a bigger price range that you’ll want to rehab the property. So which means you can’t supply as a lot. You’ll have to scale back. So on this scenario right here, should you suppose within the subsequent six months value of supplies are going to be pushed up and labor will improve, what does that estimate now appear to be and the way a lot do it’s good to cut back the value that you just’re really providing on the property? By that is among the greatest methods that you could manipulate the numbers of your deal is by providing much less on the property.

Garrett:
These are nice, nice particulars so as to add as a result of even we’re constructing a brand new short-term rental quickly and I bought three quotes on septic. One got here in at 16,000, then I bought one at 12,000, then I bought one at 10,500. So it’s all the time surprising the variance in between these completely different quotes, however undoubtedly probably the greatest issues that you are able to do to ensure you’re spending the perfect use of your time and getting the perfect bang in your buck is get just a few further quotes greater than you in all probability even suppose, particularly should you’re newer since you by no means know what chances are you’ll overlook and also you by no means know who chances are you’ll meet throughout that course of that you just actually form of develop relationship with and you may have some rapport that builds to construct your portfolio much more as she talked about.

Ashley:
Yeah, I couldn’t agree extra. I believe that in making these connections with completely different contractors too, in order you construct and develop your portfolio, they’ll know that they’ve what you are promoting more often than not and we’ve a plumber and we give all of them of our upkeep on our property, so there’s a plumbing challenge at any of ’em. They get the decision. It’s not a major sum of money that they make off of this, however that also we’re giving them enterprise continuously sadly. After which so after we do have both emergencies or we do have greater jobs that should be accomplished in a well timed method and for worth, they’re our go-to, however we do nonetheless, though they’ve been so good to us, we do nonetheless get second quotes, third quotes, fourth quotes on a few of these greater jobs simply to make it possible for they’re nonetheless staying aggressive with us too.

Garrett:
Yep, identical right here. Couldn’t agree extra on any of that.

Ashley:
Okay, we’re going to take a fast break earlier than our final query, however whereas we’re gone, ensure you are subscribed to the realestate rookie at YouTube channel. You could find us at realestate rookie on YouTube, however you can too discover us on Instagram at BiggerPockets rookie. We’ll be proper again

Ashley:
With extra after this. Okay, let’s bounce

Ashley:
Again in. We’ve got our final query at this time, and this one is definitely pulled from the Reddit boards. Hello everybody. I may actually use some recommendation and need to share my latest house shopping for curler coaster. My closing is in simply three days and at this time my actual property agent informed me that the vendor is out of the blue rising our buy worth by $7,000. So right here’s the scenario. We initially provided $650,000 on a property. The sellers then requested all patrons to submit new. We included an escalation clause saying we’d go as much as 680,000 if another person provided greater than 650,000. The vendor accepted one other purchaser’s supply and declined ours. Three days later, the vendor got here again to us after the opposite purchaser backed out and accepted our supply, the realtor informed us that the value is 650,000. Now simply days earlier than closing, the vendor claims the value ought to be 657,000 due to our escalation clause saying they’ve proof one other purchaser provided round that quantity.

Ashley:
After I pushed again and informed my realtor that the acquisition settlement said 650,000 and the escalation clause applies solely earlier than acceptance, my realtor got here again with, but when the $655,000 supply was dated earlier than April eighth, which was our acceptance, then the sellers bought us, which it was my query is can the vendor legally increase the value after we each signed the acquisition settlement? What ought to I do subsequent? I all the time thought that after each events signal the acquisition settlement, the value is locked in until either side conform to a change, any recommendation or perception could be actually appreciated. I really was shocked once I learn this. I used to be like, oh my God, this could be an terrible scenario. So be it. To start with, Garrett and I are usually not attorneys and I actually do suppose an legal professional is the perfect plan of action. It’s most certainly going to be inexpensive, lower than $7,000 to have an legal professional check out this and inform you come what may and what are your choices. So that will be my first plan of assault. However Garrett, you and I can weigh in and provides our opinions. So what are your first ideas on this?

Garrett:
So I’ve been a realtor for eight years now, someplace alongside these traces. And escalation clauses are undoubtedly probably the most tough issues in actual property I’ve seen for just a few completely different causes. Whenever you go to actual property agent college, they don’t train you about escalation clauses. There’s a number of belongings you be taught within the area principally. So it’s lots to unpack right here and it’s arduous to essentially give a full realtor opinion from this. I’m positive there’s just a few issues I is likely to be lacking, however my first step could be in case your realtor isn’t a dealer, it’s good to contain their dealer as a result of that’s who the realtor is underneath principally, that’s who their license is held underneath. They’re those chargeable for that realtor and so they often have a a lot larger degree of understanding. If I used to be the realtor on this scenario, the primary particular person I’d name is my dealer.

Garrett:
And so that you because the consumer of the realtor, it’s good to get this dealer concerned as a result of they’re who you’re really signed underneath. It’s not the realtor technically, however say this realtor is the dealer, your subsequent greatest step is anytime there’s something authorized concerned. I can’t reiterate sufficient what Ashley mentioned, like that is going to be the time it’s good to get an actual property legal professional concerned as a result of it’s going to be cheaper than that $7,000 as a result of from what it sounds wish to me, if I misheard it mistaken or learn it mistaken, if the acquisition settlement was signed for that worth and so they’re coming again proper earlier than closing, there’s a number of purple flags round that that they could be within the mistaken, however it’s arduous to say simply studying via a Reddit publish about this. So it’s by no means my favourite reply to provide like, oh, go spend more cash with an actual property legal professional, however that is going to be a type of conditions that there’s no person else that you’re going to be capable to absolutely belief.

Garrett:
Apart from the dealer goes to be an especially good useful resource, however not all brokers are usually not attorneys both, and never all brokers are made equal. So I don’t know if that recommendation goes to be absolutely what you need to hear, however that will be the steps I’d take. I’d speak to the dealer of the realtor you’re working with, after which subsequent go to an actual property legal professional, particularly in the event that they’re not clear reduce on what precisely goes to play out or in the event that they’re nonetheless in favor of the 657,000 buy worth. However escalation clauses are all the time slightly tough with completely different situations identical to this. They all the time are likely to pop up it looks as if.

Ashley:
Yeah, and I imply in the end it principally comes right down to you lose out on the deal, you get sued otherwise you name their bluff. These in all probability are the three choices which are going to occur is to you say, okay, no, we’re staying at this worth and the vendor backs out of the contract. I imply, you could possibly have the choice to sue them for that and see you probably have a case for that, or you could possibly say, no, I’m not paying the 6 57, and you could possibly again out of the deal after which they may doubtlessly sue you for that. So I believe that’s actually what it comes right down to. And I’ll say in New York State, it’s important to have an legal professional to shut on a property, and that’s one advantage of the only a few advantages of being an investor in New York State is that you have already got the authorized counsel helping you alongside the best way.

Ashley:
So it’s not, this query wouldn’t be an extra expense actually, however I believe that it’s important to form of have a look at the professionals and cons of if you’re, how a lot do you actually need this deal? And I believe there’s some threat into saying, no, we need to keep on the six 50. That’s the agreed upon, and we’ll take you to courtroom should you say not. We’ve got a signed contract that states the acquisition worth on it. In my expertise, anytime a purchase order worth has modified for any purpose or there’s a credit score or something that occurs, the contract is all the time up to date to mirror that. And in order that’s the place I believe you do have a bonus the place it was by no means up to date on the contract and that’s the place perhaps this vendor has to go after their very own agent as a result of their agent didn’t try this. In New York State. I’m utterly fingers off with title firms, the attorneys dealt with that. So I’ve little or no information on title firms, however I’m curious, Garrett, should you don’t have actual property attorneys, you could have title firms. Yeah. Do you suppose the title firm would have any involvement? Like they’re writing the title, they’re placing it collectively and so they know the acquisition worth. I imply, would they be a useful resource for you in any respect? No,

Garrett:
The title tries to remain, and it’s all the time humorous listening to how completely different, it all the time jogs my memory of how states all take care of issues otherwise as a result of hilarious to listen to that it’s important to undergo an legal professional and it’s like out right here, it’s the Wild West in Texas, simply present up on the title and hope it’s lots on the realtor. However yeah, title firms often are, they attempt to be as fingers off as they are often as a result of that’s not their job. So to me, all the pieces you simply outlined, which is totally true, all of the choices which are going to occur, it sounds such as you’re going to should get an legal professional concerned nearly it doesn’t matter what if even should you’re desirous about backing out otherwise you need to sue them or so, sadly, that’s in all probability going to be your greatest, your solely useful resource that’s actually really going to be taking care of you on this scenario.

Garrett:
As a result of even in the long run, I’m a realtor and I’ll inform you that even on for the vendor’s aspect, realtors mess up on little issues like that on a regular basis, and their job is to in all probability defend themselves in that case, and that’s what the dealer’s going to do too. So it’s undoubtedly one thing that you just’re simply going to wish to probably deliver this to an legal professional and spend that cash if that is really what the deal you need to go along with. And I’ve a sense that the agent on the opposite aspect is the one which probably dropped the ball on this example, however you don’t discover out till you dig slightly extra into the contracts. And that’s simply form of the scope of issues over right here. So yeah, it’s all the time fascinating right here how every state is form of related however nonetheless form of completely different in all the pieces too. So work with belief your brokers which are there, however then belief an legal professional that is aware of these contracts in that state much more than anyone else you’re going to take care of.

Ashley:
I believe this particular person has one other little benefit too, is that anyone else already backed out. So if this particular person backs out and says, I’m not paying that seven grand further, that’s two those that have backed out of this deal, which when searching the MLS and also you see one thing went pending after which backup on the market, one thing went pending, the backup on the market, that could be a large purple flag, even when it might be is mistaken with the property, was simply actually one thing like this, a disagreement. They determined to borrow methods, however it does actually draw a purple flag on the property. Who needs their property sitting days on market longer, particularly going pending after which again available on the market. I’ve been in a pair circumstances the place brokers received’t even mark the property as pending. Once they settle for a suggestion, they’ll say, we aren’t till all contingencies are cleared. So the property, they’ll cease showings, however it’ll nonetheless be listed as on market and so they’ll wait till the inspection is completed, all of the contingencies are clear, then they put it pending in order that if the inspection is completed, one thing comes up that folks need to stroll away, they don’t should put it again on market as a result of it places that little stain on the itemizing.

Garrett:
Yeah, I do a number of, not as many as I used to as a result of I give attention to short-term leases now, however I used to do a number of purchaser’s brokers aspect of it, and that was one factor I’d search for is that if I’ve seen a home, particularly on my funding aspect, if I had see a home go pending just a few instances, I used to be form of like a shark within the water, like, all proper, I do know they’re getting antsy and there could not even be something mistaken with the property, however I do know everyone else is already pondering that there’s one thing is, and that’s going to work to your benefit there. However yeah, it’s fascinating listening to among the methods that brokers pull, though I don’t know if that’s, once more, in Texas, I don’t know if that’s absolutely compliant with among the guidelines that we’re imagined to observe, however individuals do issues like that on a regular basis, so I’m not stunned.

Ashley:
I believe the very last thing on form of this matter is having issues in writing. So you could have your buy settlement, however I don’t like to speak on the telephone generally, but additionally the truth that I like all the pieces in writing actually helps me give that excuse of like, oh, are you able to simply ship me an electronic mail in order that I’ve all the pieces in order that I can assessment all that? And really, in a really latest eviction, after I did the eviction, the tenant tried to sue me for his or her safety deposit. I had textual content messages, I had emails. I informed me my va, I mentioned, don’t take a telephone name. Every thing have to be in writing. And we had all the pieces and he had no case and we received. However it was principally due to these emails that we had the written proof. In order that might be one thing too, you probably have the emails saying, speaking about this buy worth or there’s no point out in any respect that the value is now this. I believe that may actually assist your case too.

Garrett:
Individuals suppose, particularly within the agent area, individuals suppose I’m impolite once I’d say, I don’t need to speak on the telephone about any of those numbers. Even a few weeks in the past, we’re shopping for a brand new long-term rental close by and we put in a suggestion and the agent is simply calling me attempting to speak on the telephone. And I used to be like, the very last thing I need to do is speak contract particulars over the telephone. After which we get off the telephone, which has occurred. I’ve been an agent ceaselessly, I’ve seen all of it. And we get off the telephone after which we’re emailing forwards and backwards about, effectively, was this mentioned, oh no, I didn’t say that. And it’s like, this isn’t 1982. We don’t want to speak on the telephone to make this transaction occur. So I’m a large advocate of something that would ever even be contractual numbers, dates, something in any respect needs to be in an electronic mail or textual content message. I choose electronic mail for lots of causes, however I hate speaking on the telephone and about something. Numbers and brokers typically take that as impolite, and it’s so removed from impolite that it’s not even in my mind set once I’m pondering of that. So one other legitimate level there for positive.

Ashley:
We simply hit on Bonnie Glam, a asset safety legal professional too, and that was one of many issues she talked about was have all the pieces in writing, particularly with tenants. And she or he mentioned too that textual content messages are literally tougher to submit. So having electronic mail is best that it’s form of tougher to submit texts generally to the courts. So yeah,

Garrett:
My dealer informed me that she was like, emails are all the pieces for you. And I just about reside inside my electronic mail on any actual property transaction now, so it has saved me fairly just a few instances when anyone will come again and so they’ll go, oh, effectively, I believed it was this. And it’s like, Nope, it’s precisely right here. I’ll ahead the e-mail to you proper now. It’s not a, oh, effectively, you mentioned this on the telephone. It’s like, no, I didn’t say that precisely. So yeah, it’s nice recommendation for any scenario you’re in with actual property constructing rapport is ok on the telephone, however should you’re speaking any negotiation and even something very small that you just wouldn’t count on to grow to be an enormous deal, it’s going to avoid wasting your self to place it in writing for positive.

Ashley:
And should you guys want proof that Garrett and I wish to electronic mail, you may go to biggerpockets.com/publication and you may join the Rookie publication. After which what’s your little checkbox? Does it say greater stays or is it short-term leases?

Garrett:
Yeah, short-term leases.

Ashley:
Okay. Quick-term rental. Verify these two bins. Enter your electronic mail, hit subscribe, and can, every of us will electronic mail you as soon as per week with all issues or let’s say that you just guys must know for rookie traders and for short-term leases.

Garrett:
That was the segue of the 12 months from Ashley proper there. I beloved figuring out. That was nice.

Ashley:
Nicely, Garrett, thanks a lot for becoming a member of us at this time. You guys, should you’re watching on YouTube, you may see that Garrett understood the project. I texted him an image of what I used to be sporting at this time. He coordinated so properly on the podcast at this time. So Garrett, the place can everybody attain out to you and discover out extra info?

Garrett:
You could find me on YouTube at Larger stays. That’s our new short-term rental BiggerPockets YouTube channel. And as Ashley mentioned in her wonderful segue that I’ll even be writing Larger Keep’s weekly publication each Wednesday, so I can’t wait to speak on some numbers and particulars in electronic mail with everybody.

Ashley:
Thanks guys a lot for becoming a member of us on this episode of Ricky Reply, and we’ll see you on the subsequent one. I’m Ashley. And he’s Garrett. Thanks a lot for watching.