00;00;00;00 - 00;00;23;23

Unknown

Welcome to the Profit First for Real Estate Investors podcast. This series is the simple CFO Case Files, where our CFOs break down real client scenarios, financial systems and practical decisions from inside the business. Enjoy the episode.

00;00;23;25 - 00;00;44;25

Unknown

All right. Good afternoon everybody. I'm here Christina Gutierrez with simple CFO solutions. Back with another podcast with the Case Files. While we're opening up and talking to our foes, getting a little insight on things that they have experience with and things that you guys go through yourself as business owners and maybe just kind of talking you through and providing a little bit of help along the way.

00;00;44;26 - 00;01;07;05

Unknown

So today, again, if you watched previous episodes, you've seen Lee and I have invited Lee back to our podcast. So, Lee, thank you for joining me today. Thanks for having me, Christina. I'm excited about today. I'm excited about every day because I just like to talk. But I am excited because a lot of people come to us and it's, oh, I don't have any money.

00;01;07;07 - 00;01;23;29

Unknown

Oh, I don't know how to run my business, I don't know. You know, there's so many different questions, but something that a lot of owners don't think about is why do they even start their business? And like, what are they going to do when it's done? Are they planning for an exit? Do they want to sell it or make it sellable?

00;01;24;01 - 00;01;51;25

Unknown

Real estate sometimes can be a difficult business to sell because flipping, if you're not holding anything like you don't have a lot of assets. So there's a lot of things that we think about when you when you want to sell your business, whether it's commercial, whether it's real estate, we'll jump into different types of businesses. But Lee has been, you know, really been able to help clients figure out what are they doing, how do they sell their business, how do they plan for exit?

00;01;51;26 - 00;02;08;16

Unknown

There's different things you need to think about. You want to think about your valuation. How much does your business depend on you? How do you even prepare for what am I numbers say? Am I even ready? What am I doing? So there's so many things I could go into, but I'm not going to because Lee is going to.

00;02;08;18 - 00;02;43;07

Unknown

So Lee's going to talk us through a couple things and hopefully you guys get a little bit of input from this. So Lee, take it away for me. Give me some information about these clients that you worked with. Yeah, absolutely. I think one of the first things, even before going into I have a couple of case studies I do want to talk about today, but one of the first things that I think helps a lot of our business owners is just kind of basically understanding whether, how, how operationally dependent your job is, like, are you actually acting as a CEO or are you acting as an employee of your own company?

00;02;43;09 - 00;03;11;13

Unknown

And how much of your your knowledge or skills can your business succeed without you? And the reason why this matters so much for that exit strategy. Exit planning is because your business is actually inversely correlated with valuation based on how much dependency your business is with you. So, for example, do you generate all the business? Do you have all of the relationships in your company?

00;03;11;15 - 00;03;38;10

Unknown

Do you have to approve everything? Do you make all the decisions? What about processes? Do we store that knowledge somewhere else or is it all live in your head? And these are just a couple of those those main things. Are you doing all the sales. Are you doing all of the vendor relationships, all those sort of things? If you're doing all those things as a CEO, as as you run your own business, it makes it a lot harder in that exit strategy, timing.

00;03;38;13 - 00;04;16;29

Unknown

And I think that's one of the first things that we want to address, not just because you're looking for an exit, you're looking for an exit tomorrow or down the road just so that you can move further from having a job to acting as a CEO. And that's kind of our job at simple CFO, is to give you the knowledge and skills to make sure that you're actually acting as a CEO so that you're not your hands are not in every little bucket, and that just kind of leads down the path to, you know, being able to make an exit when you're ready because the financial knowledge, the the sales knowledge and all the other

00;04;16;29 - 00;04;36;12

Unknown

relationships that you have, they live with other people or they're documented so that someone can someone can take that over. So I think that's one of the biggest things for me where I see, see our owners struggling is that they, you know, they wear a lot of hats and they don't document that very well. So it becomes something that they own all the time.

00;04;36;12 - 00;04;57;15

Unknown

And when they're looking for an exit, whether they're passing it down to a family member, whether they're selling it, whether they're looking to offload their portfolio or just transition into something. A lot of our a lot of our clients, because they're in real estate, they look to transition from maybe full time flipping into something more passive, like like rentals, long term rentals especially.

00;04;57;15 - 00;05;19;01

Unknown

So I think those are those are the first things that kind of that's a broad strokes advice that'll help pretty much any owner operator in our line of work. How many people do you come across that are okay giving up the reins? Like, let's be honest. They built their business. They're excited, right? So they're like, I know I've worked with people for that.

00;05;19;01 - 00;05;48;12

Unknown

Like, it's kind of a scary thing to give the reins away or even think through coming up with a process or giving it to someone else. Yeah, for sure. And I think that's that's a really good point you make. But it's also really important that you're able to do it because you want to have that operational freedom. You don't want to look back at your calendar for the last 30 days and say, hey, what are these low level tasks that could be performed by someone else that's earning less than you, right?

00;05;48;12 - 00;05;56;25

Unknown

You should be your your time and your value should be highest level stuff in the business.

00;05;56;28 - 00;06;33;27

Unknown

Versus doing kind of some of those low level works. If you're just answering emails or approving purchases or, you know, entering data entry, stuff like that, it's probably not stuff that's your highest and best value. And as much as it's hard to give those things up because you're used to doing it, it's our job to take you from from point A to point B so that you can get to that second level where you're actually acting as a CEO, and you're kind of ready to be in a place where you're not your business isn't fully dependent on you, you know, just running around 24 over seven.

00;06;34;00 - 00;06;54;03

Unknown

And that just connects us to the exit strategy plan, right? So when you have all those things in place, when you're you're acting at that higher level that tells someone else that they can come in and act at a higher level without having to kind of be involved day to day, every single, every single touching every little piece and that they're able to take over your business.

00;06;54;03 - 00;07;18;11

Unknown

And that's what creates kind of the value for other people. Yeah. So well, I'm going to you there too, because I think it's interesting to see what's some common pushback that you've gotten when you try and take things away. Or like I've heard, I'll say, a couple like, they can't do it as well as me, which shows that you don't trust your team, which is really not a good thing, or it's not my fault.

00;07;18;12 - 00;07;38;09

Unknown

They always come to me because you insert yourself, or if you're constantly changing policies or you're constantly saying, well, that was a one off. So I went ahead and proved it, approved it. That comes in. So what's some common feedback that you've gotten on that? Yeah, I think I think you see that a lot. There's, there's there's things like that.

00;07;38;09 - 00;07;58;21

Unknown

It's it's about who has the authority. I think it comes down to that a lot. Who are you able to grant that authority to in those, in those situations actually. So one of the best one of the best situations I have, one of the case studies I was going to talk about, and I'll just kind of bring it up because I think it really lends in well to this.

00;07;58;22 - 00;08;22;17

Unknown

Is a father transitioning his his business to his son. So they worked together for a while. Son was under him. There was a few other few other people kind of working within the business, but trying to actually transition from from father to son and trying to figure out, you know, what actually can be done. So this comes back to exactly what you're talking about.

00;08;22;17 - 00;08;41;01

Unknown

So who has the authority to make these decisions? The transition is not going to happen over just a couple of days right. It's probably going to take a year or 2 or 3 to fully transition everything to someone else. So who has the authority does who has your relationship? So he had been in the business for 40 years.

00;08;41;02 - 00;09;13;11

Unknown

So he has all these working relationships with with vendors, with contractors, with, with bankers, all these other people. And we had to make sure that the son started to get those relationships as well. Had to meet them, had to meet them in person a lot of times, especially for some of these older relationships, any institutional knowledge, you know, just tricks of the trade, all these sort of things that maybe aren't written down anywhere but live in his head, they need to either be documented somehow or passed on in some sort of way.

00;09;13;12 - 00;09;46;13

Unknown

That's where I use I love using AI, so we have face to face meetings documented via AI, and then just, you know, you can create some protocols from, from that kind of stuff. But without doing all this sort of thing, without documenting all the the transition of knowledge and authority and relationships, things like that, it's very hard to reliably hand off any kind of control you shouldn't, honestly, as a CEO, it but it's also your job to empower your team to be able to handle these things.

00;09;46;13 - 00;10;06;22

Unknown

If you don't trust them, how do you take the next steps to be able to trust them? And that's a lot of what we can do is, is give you that that pathway to to getting to the point where, hey. These are kind of some of the steps that we've seen with other, other businesses that will will get you the point where you're able to give that up.

00;10;06;29 - 00;10;39;02

Unknown

It's not our job we don't want to make. We don't want to make people CFO. We don't want to necessarily take all of the the financial side of things and force that on some people that maybe that's not their strongest suit. But a lot of the reasons that these people have been so successful is because they're they're so good at sales or they're so good at marketing or they're so good at relationship building, let's give them those strengths, amplify them, and make sure that the next line in succession are going to have those skills as well.

00;10;39;04 - 00;10;57;00

Unknown

That's a good point. That's that's a very good point. And I'm sure it takes time. And sometimes, you know, we're impatient. So we want it to happen quickly. And it when it doesn't happen quickly, it's like, oh I got to do this. I got to do that. And it seems like more work, right? It seems like a lot more work up front.

00;10;57;00 - 00;11;14;26

Unknown

And they're like, well, now I'm doing these small tasks that you told me not to do, but you let's put the work up front in order to make it easier and set the stage like far into the future where you can walk away and get, as we call it, mailbox money, where you're you're now just getting cash and you make money while you sleep.

00;11;14;27 - 00;11;36;21

Unknown

I think there's someone that said that. Some millionaire billionaire. Yeah, yeah, I'm sure there's lots of people out there that are making that mailbox money. I love that that that saying. Yeah. And I think that's one of the biggest things that we do with our clients is making sure that they understand what the actual economic engine of their company is, right?

00;11;36;23 - 00;11;58;29

Unknown

Because if they know what's making them money and they know that, that what's going to continue to make them money and they can pass that information along to their team, or in this instance, it was a son, they're able to continue to take their their feet off of all the other all the other aspects of the company. Right.

00;11;59;00 - 00;12;20;27

Unknown

So the companies, they know what the core business is, what their competitive advantage is and how they continue to make money. Then those those other things become a lot smaller. It turns out like it's it's so funny. If you're making a ton of money, it's a lot easier to be like, hey, you can you can go buy this small thing at Home Depot.

00;12;20;28 - 00;12;44;06

Unknown

Hey, you can call, you can call this vendor and negotiate terms. Hey, you can do this. You can do that. Because at the end of the day, you know that your core business is protected. And that's that's a really, really important aspect of it, especially when we're talking about exit planning, is just understanding that the core business is protected in this instance because it's staying within the family.

00;12;44;06 - 00;13;13;24

Unknown

There's not there's not a one exit point, but you still want to leave the business in a successful position. You want to leave it in a position that has strong economics, that has strong financial backbone and really has strong KPIs as well, strong cash flow. I think that's one of the other things, too, in these cases where, you know, you get to a point where you're trying to give up all this control and you're trying to, you know, get all things wrapped up in a good point.

00;13;13;26 - 00;13;33;00

Unknown

Having the economic side of things understood is probably the most important thing for peace of mind, because everything else is, you know, they'll figure it out. Maybe they'll do things a little bit differently. But as long as the you know that, you know that they're making money, that's going to make everything a lot easier to to move forward with.

00;13;33;03 - 00;13;49;13

Unknown

That's true, I agree. All right. So talk through this father and son I know there's some more. And it probably for the father was even more important because you care about your son. You know, you want him to do well. So talk through a little bit more of what you did for them and how they responded to it.

00;13;49;18 - 00;14;13;10

Unknown

Yeah. For sure. So he was nearing his late 60s, early 70s, I think, and it sort of been working with him for actually 10 to 12 years. And it was just it was just time for the dad to move on. He still wanted to be he still want to get some of the mailbox money. He still was going to be some some sort of part owner but owner, but not involved in day to day anymore.

00;14;13;10 - 00;14;49;16

Unknown

So we really had to identify what what the business needed to do to be successful with and without them. So a lot of it is what I'm talking about already, which is those relationships and making sure that the business itself was really set up in a good place. So we really focused a lot on cash flow in the last year or two of that business was making sure that if there were any properties that were not cash flow winners, maybe they weren't something that was supposed to be part of the portfolio.

00;14;49;18 - 00;15;15;02

Unknown

So I think that was probably one of the biggest things. What needed to be sold, what needed to be kept. There was a lot of really big decisions, actually, that had to be made economically to make all the other little pieces fall into place, and also just trying to figure out what would still require require the father for X amount of time, right?

00;15;15;04 - 00;15;41;05

Unknown

Like at some point he's going to step down, step away. But it was creating this plan that would slowly phase him out. So it was like, all right, in six months you're going to be here in in 18 months, you have to be at this point, like you can't be coming to the office every day. You're not going to be calling customers like, this is where you these are the things you have to incrementally give up so that your son can actually take it over.

00;15;41;08 - 00;16;10;22

Unknown

And then also on the on the other side, creating that accountability. Back to to the father. Right. So making sure that everything that was getting taken from him was then getting picked up by someone else, whether it was a son directly or someone else in the organization, to make sure that he felt comfortable, continue to step away, to continuing to hit those those checkpoints so that he could move away from the business while the son continued to take more and more of it.

00;16;10;27 - 00;16;41;28

Unknown

That's that's how these things work. There's no world where it's just, hey, tomorrow I'm going to take over. You're going to walk away. That's that's not how these things work in real life. Even even if there's a case of your you're selling, which I do have another example about, it's still a lot more than just the final day when you sign the paperwork is the last day of everything, and it may feel like that, but there was a huge lead up process to make it make the transition successful.

00;16;42;03 - 00;17;01;28

Unknown

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00;17;02;00 - 00;17;30;11

Unknown

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00;17;30;11 - 00;17;57;16

Unknown

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00;17;57;16 - 00;18;15;22

Unknown

Com go get them make more profit. All right back to the episode. Yeah it's called due diligence right. You wouldn't purchase a property like that and not know what's behind it or go look at it. Although some people do. But if it's a big enough property or if it's enough money, some someone's not going to just purchase something.

00;18;15;22 - 00;18;40;19

Unknown

That due diligence is so important. Like you're putting your time, your money, your effort, your resources into it. Like you, there's a long line of things that you need to do before you make that final decision. So that is a really good point. That makes a ton of sense. Yeah. And so getting to the other example about due diligence, when you're actually when you're actually exiting a business.

00;18;40;22 - 00;19;08;25

Unknown

This other example that I worked with was someone leaving. There was there was private equity interest in a, in a portfolio. So just trying to figure out what the number was, just trying to figure out how to make it as, as attractive as possible. So one of the things you hear about all the time in this world is, you know, multiples of EBITDA, how much, how much are we going to make off of this sale and and why?

00;19;08;27 - 00;19;36;19

Unknown

And one of the one of the things that I find are I've done a few of these transactions. And one of the things that's very consistent is the organization of the business itself is paramount to it. So how tight are the controls? How how good are we at collecting our revenues? Do we have recurring revenue? Are there one off?

00;19;36;22 - 00;20;02;25

Unknown

Are there one off transactions that really make a big portion of our revenues so low? Customer concentration. Do we have do we have many customers or do we have only a few customers? These are these are the things that are important. How about retention. Do we keep we keep customers for longer periods of time. This is true whether you're in real estate, whether you're in a service business, it doesn't really matter what you're in.

00;20;02;27 - 00;20;25;05

Unknown

But what these companies are looking for is predictability, right? They want to know that if you lose a customer, it's not going to take the business that makes the value higher, even if you're the same EBITDA as a different business, if your revenues are more predictable, if your profit is more predictable, that's going to be a lot more valuable to them.

00;20;25;07 - 00;20;48;27

Unknown

So this business, that was exactly what we were trying to do. So leading up to the exit strategy, when the owner said, hey, I need to get out of this in the next like 24 months, I think was the number. I was like, okay, cool. So let's look at look at our portfolio. Let's look at what we can do to be more attractive to, to these kind of firms.

00;20;48;29 - 00;21;27;22

Unknown

Smart. And you know, I'm going to pull out that key word of predictability, because we all know that the real estate world predictability is very hard to come by, which is why I think we're so passionate about what we do. Right. Because having a good financial partner and someone that understands numbers and understands history and can build it out, when we can bring more predictability, I think, than the average person could, just because we understand that's our business and work with so many different people, but within with not having predictability and not understanding your numbers, I feel like I've heard a lot of people say, well, I should sell my my business or I should

00;21;27;23 - 00;21;50;23

Unknown

sell my company because my friend did it, or the guy down the street did it, and he got this amount and he got that amount. So you start to compare yourself to people that really if you were to crack open books or operations or anything in the business, you're really not comparable to it. Yeah. There's always there's always that story of the guy down the road that got 12 or 16 x and that happens.

00;21;50;23 - 00;22;28;28

Unknown

It really it does happen. I've gotten some really high multiples, and it is always turned out to be the people that are most organized in their financial understanding of the business. Honestly, it's it's about who has consistent revenue growth, who keeps their their clients consistently, who has better systems, less concentration with customers, less owner dependency. We talked about that, making sure that if that owner were to step away for 90 days or in this case, forever, someone else can step in and the business keeps running.

00;22;29;00 - 00;22;51;21

Unknown

The pipeline is is is predictable, potentially. So if you have a if you have a sales pipeline, whether it's in, in leasing, whether it's in whatever it is in making sure that that pipeline is consistent, that you have a consistent way to get new people into into buildings. But yeah, I think I think Christina hit on the the nail on the head here.

00;22;51;21 - 00;23;20;04

Unknown

It's all about that predictability and making sure that, you know, you understand what it's going to take to continue to run this business at this level. And that's that's what people value, right? People value that predictability. But I think, I think the most important thing for me when I, when I think about these two situations is they, they sound very different once ones, like a dad giving a business to a son or transferring a business to his son and then someone else is.

00;23;20;07 - 00;23;42;07

Unknown

Hey, how do we get our business ready for private equity? But at the end of the day, both of them. To be successful, they need reliable financials. I think that's the number one thing, because how does anybody value a business without reliable financials? How does anybody, if you can't understand what money you're making or where the cash is coming from, there's no there's no value.

00;23;42;08 - 00;24;12;05

Unknown

Right. And the father son example, it's how does the son know what business to continue or where to put his efforts in in private equity it's hey, where are we actually making money? How much money are we making? How do we value that? The next part of it is KPIs. This is something that on the CFO side, we help a ton with to make sure that your day to day actions are maximizing your the most important things that you do in your business.

00;24;12;05 - 00;24;57;08

Unknown

So making sure that we continue to tie those together leadership beyond the owner. That's again that dependency that we want to make sure that the business functions without you. And I think one of the last things that's really important that we can help with, as simple as is the predictable cash flow side of things, just understanding where your cash is coming from, when you need to make make moves to either acquire or acquire more properties, acquire more real estate, whatever it is, whatever business you're in, whether you need to to move the other direction, is it is it time to get rid of this, this, this investment because it's no longer serving our portfolio.

00;24;57;11 - 00;25;18;12

Unknown

So and just handling the day to day cash flow of the business, making sure that you understand where you're going to have cash or not going to have cash because cash is king. Ultimately, it's how you survive a transition in an exit. And it's also how how private equity values businesses when they have those high cash flow numbers.

00;25;18;14 - 00;25;35;15

Unknown

Yeah. And it hasn't really matter who you're selling it to. You know, like the last thing you want to do as a, as a father is hand it off to your son so he can call you six months later and say, hey, dad, we don't have any money. Yeah, right. Me a check for 100 K, please, because we ran out of cash.

00;25;35;17 - 00;25;57;07

Unknown

It's like, okay, that's. Yeah, you get to that point right before transition. It's like, okay, let's look at the next 16 weeks of cash flow. And that's the that's the other thing where it's not just this cutoff date, like you've been doing this for the last 2 or 3, four years in just in prep for this position so that you know that your cash flow is predictable.

00;25;57;07 - 00;26;20;15

Unknown

You know that you know, when you when you kind of take your your foot off the pedal, it's it's going to continue to produce that cash. And that's probably one of the most important things you have when you when you look, when you turn away from it. Oh yeah. Definitely. I know people throw out terms of like you're right like the P equity the two x the this how do I sell it.

00;26;20;16 - 00;26;42;27

Unknown

They I think a lot of people that don't really understand what it takes to sell their business, just throw out all these numbers like a bank would tell you. Or an equity firm will tell you because they they're like checkboxes to them. What's your number is a 2.3. Is it this. What's your debt ratio. You know they start checking boxes without thinking how sellable is your firm actually.

00;26;42;28 - 00;27;09;28

Unknown

And there's like a do they call it like a book value versus a sellable value or do I just make those up. No, no that's that I've heard those terms before. I don't know if it's it's used extremely formally. But yeah, there's, there's there's definitely different terms around what, what someone might say. Like what's your multiple versus what are you actually worth to us.

00;27;10;01 - 00;27;33;24

Unknown

Whereas it's like on paper you could be, you know, your EBITDA could be $2 million. And you know, standard in this business it's it's A2X multiple. So you should be worth $4 million to us. However, all of those little things, all the all the other things that we do are what make you worth either more or less. So do we have predictable cash flow?

00;27;33;25 - 00;28;02;06

Unknown

Do we have do we have all of our KPIs set up in place? Do we have documented processes? Are we able to, you know, is there not huge owner reliability in our pipeline? How our financials are they are they actually solid or are these maybe 7,080%? Have they been reviewed by a CFO grade person that can actually say can find some issues with them potentially.

00;28;02;08 - 00;28;27;05

Unknown

So I think there's a lot of other things that go into those valuations versus just here's a number on a paper. Paper and here's an x multiple to that number. And that's that's the value that we can provide in a negative situation. Absolutely. Yeah. We're not asking them to become a CFO or understand their numbers right. We're there to come alongside them as their partner and help them figure out, you know, what's your goal?

00;28;27;05 - 00;28;49;06

Unknown

What are you trying to do if you're trying to sell your business? Let's talk through all your processes like literally go into businesses and break them apart and kind of dissect it and figure out what's going on. Because in order to have a sellable business and want to exit, eventually you're going to need to know all those different sides of your business, because you may not even know some of them.

00;28;49;08 - 00;29;09;00

Unknown

Yeah, for sure. I think that's one of the other things, too. We just we have a wealth of this knowledge because we've talked to so many different people, because we've gone through these situations. Some people don't want to sell their their business. Some people want to just take a step away. Some people want to go from full time flipping to to to long term rentals.

00;29;09;00 - 00;29;34;17

Unknown

Some people just want to create this big portfolio of long term rentals and then sell them all to create their their nest egg. So it's figuring out, you know, we're not necessarily going to be running the precise analysis on what the tax consequences are, but it's helping helping our clients understand, hey, there's going to be some significant tax consequences of of this strategy.

00;29;34;17 - 00;30;01;28

Unknown

There's going to be there's this other strategy that we've worked with another client on that may be better suited to you for a long term exit, or maybe you want to hold on to a couple of these properties for the next couple of years based on this economic condition or something like that. So it's just having that that knowledge that we have that that breadth of knowledge that I have and then other our other CFOs have that kind of help.

00;30;02;05 - 00;30;24;25

Unknown

Our clients understand that there's not only one option, there's probably multiple options within all my different lines of business, especially if you're doing flipping, if you're doing rentals, if you're doing, you know, other kind of sales. So whatever it is, we're going to dig in and personalize what makes the most sense for you on your timeline and with your goals.

00;30;24;28 - 00;30;41;12

Unknown

Perfectly said. I've said, very well, is there anything that we missed or anything you want to add about to to any business owner that's out there listening, thinking, yeah, I do want to exit. This is why I started this. Or maybe someone that's like, oh, I've been doing this for 30 years and I'm so over it. I need to call them.

00;30;41;16 - 00;31;02;14

Unknown

What's something you would say to them? I would say, give us a call and let us let us look at your business and so we can help you achieve your goals, whether it's whether it's an exit in the short term, whether it's a long term exit, whether it's something that you maybe don't fully understand yourself, you're just kind of sick of the day to day.

00;31;02;14 - 00;31;30;23

Unknown

We can help you run your business better. And that's that's kind of what I was getting at earlier, about how the dependency of the business really does matter is are you an employee of your own business or you actually acting as a CEO? So you have to answer that question whether you're leaving in five years, ten years or in five weeks, and you want to make sure that you're acting at your highest level, getting the most value out of your business.

00;31;30;23 - 00;31;52;22

Unknown

So you have to you have to do these things whether you're about to exit or whether you're just kind of working through your day to day and trying to be a better business owner. So I think all these things, all these things add up to give us a call and we're going to help you run your business better and be better placed if and when you decide to exit your business.

00;31;52;25 - 00;32;08;15

Unknown

Yeah, that's a great point. It doesn't matter if you want to exit. It matters to have your business on the right page now. So we don't expect CEOs to have all the answers. I mean, nobody has all the answers, right? But no. Together you can actually make some headway here. And we have a lot of good people that do that.

00;32;08;15 - 00;32;25;21

Unknown

So if you're sitting here listening, thinking, you know, if it hits close to home and you're like, oh, I need to call or I need this, like, you know, go to simple CFO to book a discovery call, figure out if you can maybe even talk to Lee. He's available to talk to people, and he can kind of help you through your business as well.

00;32;25;21 - 00;32;42;17

Unknown

And we'll get on the phone with you and help you out. Thank you. Lee, for joining me today. I appreciate all that knowledge that you brought and hopefully it touch somebody today and help them a little bit. Absolutely. Thank you. Christina, thanks for listening to the simple CFO case Files on the Profit First for Real Estate Investors podcast.

00;32;42;19 - 00;32;56;25

Unknown

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