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We're here today with Matt Rogers, Meghan Templeton, from Royal legal and of course, myself, Frank Spaulding. And today, Megan is going to be talking with us about if I recall correctly, LLC formations and helping to protect your business assets in your investment assets. Also asset protection in regards to trust relations and such like that, then anything else that Megan would like to bring up? So how are you doing today? Megan? I'm good. I'm good. Thanks for having me, guys. Yeah, so we know at Royal legal, what we really specialize in is setting up these entity type structures for investors, we do a lot of specifically with real estate investors. And then just other asset protection strategies, 401, K's things to tax savings, estate planning, that kind of thing. So looking forward to talking to you guys about it. Here, Megan, and is there. Is there anything right off the bat that you would tell somebody who's maybe new to real estate investing some simple strategies to kind of shore up their legal formation? Maybe they're not quite experienced yet. They don't have a ton of deals going on? Maybe they're just got a couple of things cook in here? And what can they do to kind of some first simple steps to get going? Yeah, absolutely. So I think you know, one of the things we hear a lot from particularly new investors is this idea, I don't have a lot of deals yet, I'm just really dipping my toe into it, I don't want to make too big of an investment on the front end, what's the best way to get started. And you know, and there's a couple of ways you can do it, you can start investing individually. But there's some risk involved with that. Because if you were to be litigated against, then your personal assets are at risk, you can start doing it through things like a limited partnership, which might be a little easier to form, if you've got partners involved. That's one direction, but what we really recommend is starting with a structure that is scalable. And there's ways to do that in a cost efficient manner. But what we've learned is, it's a lot easier to do things right on the front end, and start in that direction and have to get you know, 10 properties down the line, and redo what you've been doing. And so inside of that, you know, what we really recommend is get your entity set up in the beginning. And that can be something you can use a hub and spoke model where it's one LLC that flows down to multiple LLC is in this can be in different states or it can be something like a series LLC, a DST, there's a lot of options on how to do it. But I think the most important piece is just getting something in place that is scalable. And depending on what your your business process is gonna look like that may change a little bit, but you want to get something on the front end just to make sure you're protected. One of the things that we tell folks, you know, if you are a real estate investor stats tell you that within the first 10 years, if you've got more than three properties, you're at a risk of 90% or so of getting litigated against just the nature of the game. And that doesn't have to be a scary stat. But it is something to be aware of. And I think that puts a little bit of pressure on getting the structure set up initially. That's typically our first kind of, you know, point of contact with someone who's like, hey, we can talk about what it's going to be but let's do something let's not put it off. Definitely. Do you struggle? Do you stick with trying to suggest that they only incorporate in the state that they are operating in or states that they're operating in? Or are you focusing in on some of the more asset protective states? Like I believe it's Wyoming and Delaware and such like that? Yeah, so for the most part, we stick with the states that have the strongest charging order protections and you hit the nail on the head with as you're looking at things like Delaware, Wyoming, Texas has a great deal of protections as well. Now, there are some considerations that are state specific. So for example, if you are a resident of California, we need to really talk about how you're going to your structure because they've got some killer taxes that if you're not careful, you're gonna get hit with multiple, multiple 1000s hours of taxes every year just for having an LLC. So most of the time it is where's the charging order protection, strongest? There are some circumstances though, where it is going to be related to what state do you live in? And also what type of investing do you do if you do commercial deals? You probably need to Look at having properties in the state that the property's in, because that's gonna help with lending. So it's you know, it's a conversation to have with your your business team to figure out what's best. But I'd say if you're looking just to kind of evaluate on the jump, start with who has the strongest charging order protections. make sense to me, I apologize for getting distracted in children home. And of course, it's play time. So other friends are showing up at the door wanting to play? Oh, no worry, as I got a little one in the background, you'll probably hear in a minute. So if Matt doesn't have a follow up question on that, I was wondering, when creating the LLC, are you also recommending that they hide their addresses, and stick with like peel boxes, and or just strictly a business address, and doing what they can to hide their personal address, I mean, for the same reason, you know, as the purpose of the LLC, where you're trying to hide, or protect the owners and stuff like that, and then keep their information off of there and just keep it in a corporation named Corp signs or whatever. Yeah, so you're on the right path. You know what, though, you want to start with the idea of this liability protection, really just removing the assets for yourself. But this kind of goes hand in hand with that is this idea of anonymity, because if someone can't find you, they don't know you own anything, your chance of litigation goes down significantly, right. And so when that things like using a Pio box, or a virtual mailbox address works, well, I wouldn't recommend ever serving as your own registered agent, because that's kind of a dead giveaway. For the most point, there are a lot of companies that provide that service for a nominal fee. And another way we put in an m&a in the structures we use as you can actually put a trust at the top of your entities. So for example, if you've got an LLC, when you go to fire the pile that LLC paperwork with the state, you can have a revocable trust, be the owner, the member of that LLC. And what that's going to do is it's going to keep your personal name totally out of public record. So no one knows you're connected with that LLC, which means they don't know you're connected with as assets. And using things like those anonymous addresses, and that anonymous registered agent is going to bolster that anonymity as well. There's a lot of investors, I know that do subscribe to that model that you were just talking about Megan, with a trust. And that does seem to provide a lot of protection. For somebody like me, you touched on California, I live in California. And I have an LLC that I do a lot of my wholesale deals in here in California. And what would you what would you suggest to other people who live here with? You know, they do charge high amounts for LLC taxes and incorporation fees? And all those things? Is there any kind of tailor game plan that you have specifically for California residents? Yeah, there is. So you know, you touched on like California, they're just killer with the fees like setting up an LLC, there's how you get hit with an $800 per entity franchise tax every year. So it's just not a very business owner friendly state, the way you can get around a lot of those fees in California is by using something called the Delaware statutory trust. And so that is a business trust, it operates very similarly to a series LLC, where you can create one entity, but it is scalable, you can put multiple properties underneath of it, and they'll be in their own little liability bucket. So they're separated from each other. But because it's technically a business trust, it's exempt from a lot of the fees in California, particularly that franchise filing fee. So for someone who's in California, now, if they've got 20 properties, if they were really trying to have an LLC structure that has minimization of liability, they're gonna have 20, LLC is where you're gonna get killed every year. But if you have the DST, you put those 20 properties under the DST, you've only got like we got one filing and that filing is not even open to the franchise tax. So you're avoiding it completely. That's That's great to know. Absolutely. And are there any other states that you would recommend that are maybe in the same boat as California as states that are maybe a little less business friendly that could benefit from that? Not currently, most other states are pretty okay with LLC is France, the franchise tax in other states are typically nominal between 50 bucks to 100? Really, California is the only one now there are some legislation that we're going about to see possibly go through that may change that stance. So that's something here at Roy legal we're really keeping an eye on is how is the LLC landscape gonna change in the next couple of years? There's been a lot of talk in this administration about how that's going to be updated. And so currently, I would say, you know, the DST is the best fit for someone inside of California or it's also a good fit for someone who's doing a lot of 1031 work wants to get involved in investment funds. But outside of that, LLC is particularly the C series LLC is a good solution for the rest of the country. Yeah, no, in Florida, I think it's like 138 per LLC. Yeah, and right now I've got several so I just got done paying for all of those to file their annual reports. So yeah, looking into a better solution for that. Yeah, you know, what we'd recommend that for someone in Florida is a series LLC does the same thing as a DST you've got the one filing so you just have the one yearly fee, but it operates for liability minimization still at the bottom. So that might be something I'd love for you to look into as the series. Definitely appreciate it. And going the trust route, you know, that fits. Anthony's not able to be here today, but he was wanting to learn about asset protection and trusts and stuff like that. And that's something that you mentioned. So how does one go about that process? Yeah, there's a couple of different kinds of trust. When people say trust, it's always kind of an adventure to figure out exactly which one they're talking about. So you've got business trust, things like the Delaware statutory trust, and then you've got typical revocable trust. And we use that a lot in the form of what we call a land trust. And what that really means is, it's a title holding trust or a piece of property. And where we use that is we put we title our properties directly into a land trust. And then the beneficiary of that trust is owned by some type of entity, most likely an LLC. And that just means that your LLC name is not on the title for the deed. And so it's just the trust will because trust are internally held documents, no one knows who's involved inside of those trusts. So it's another layer of anonymity, but also protection because the LLC is on top of it. So you've got the DST to get business trusts, you've got the revocable trust, like a land trust, and then you also have estate planning trust, and that's going to be more of your living trust, things that are geared towards preserving that wealth for future generations. And so the way we you incorporate those in our structures a lot is having your living trust be the beneficiary of the trust that owns your LLC. And so what that means is anything you put in the LLC flows up to the trust that owns the LLC, and then ultimately up to the living trust. And so if anything were to happen, everything's already set up everything passes for your estate, avoiding taxes, things like that. And then the final kind of trust, you could use as an irrevocable trust, we don't use those a ton, because they're, they're tricky, because you really are giving up ownership of that asset. So you can't do anything with it, change it. Where those do come in handy, though, are going to be things like if you're dealing with Medicaid, and you're trying to figure out the elegant way to deal with Medicaid, and maybe in your aging years. Or if you want to do some type of offshore trusts, if you're a high value client, you know, 20 million plus, let's try to figure out a way to do that. Make sense? I've used a lot of land trusts here in Florida. So yeah, yeah. They're, they're popular in Florida, for sure. Yeah. Fairly simple to do. In the state of Florida, for sure. Yeah. Of course, it varies state by state, I imagine. It varies by state by state, you know, and that's one of the things we tell people, a lot of people I think get overwhelmed by the idea of using a land trust, because it's new, it's not as common as an entity like an LLC, but it's, you know, they're straightforward. They're easy to use, once you do it once. Typically, you'll use it from then on, because it's just a good solution. A lot of great tax advantages there as well. Absolutely. You know, that's one of the things too is a lot of people will say, Well, I don't want to get my structure set up on the front end, it's too much work too much money. And one of the things we tell people is if you get it set up right on the front end, you're gonna save any costs you put into it inside of tax benefits in the first year or two. Megan, where does somebody's personal residence fall into that in terms of, you know, a lot of investors, maybe they bought their house in their personal name years ago, there, they create LLCs and get everything formed later on, and their house is still in their personal lane, what is a good way to kind of transition a personal property, and still try to keep some anonymity behind that is that possible, if your name is on the deed, originally to begin with? It is but that's also tricky with personal residences. So you know, when you're dealing with your primary home, if you are still residing in it, you're probably gonna want to take that homestead benefit, right? I mean, that's got a ton of just benefits cost wise associated with it. So if we were to take that personal residence and move it into a land trust, or an LLC, anything that's going to strip it and put it into an entity, you're immediately going to lose that homestead benefit. So we a lot of times tell folks, hey, let's leave it as is leave it in your name, it's low risk, because you're not renting it out, and you don't have your business assets aren't putting you at risk, because they're already in an LLC. So you don't worry about that. Now, if you're getting ready to move out of that primary residence, you're going to use it now for an air b&b or something, then we can talk about actually putting it into a structure. And you're right, your name is still going to be on title as the previous owner. So what we tell folks is, you know, we'll move it into a land trust at that point. And even though people may have the appearance, you used to own it, well, now they've got this Naanum interest, they can't prove that without going through a ton of attorney time, a ton of costs associated with that. And most attorneys are going to look at that. And if it's not a pretty big lawsuit, they're gonna say the cost investments not worth this here, and it'll stop it right there. So yes, there's a chain of title where you can make an inference, but it's something that's really difficult to prove. So I don't think it's a combative element. Another option for primary residence that you can use to protect yourself without actually moving into an entity is equity stripping. We do that a lot if you own your home free and clear, but it is still a primary residence. Instead of you know, going to another lender and getting a loan on it to strip the equity. Why don't you be our own lender? You know, we can create an LLC put a note on your property from that LLC. And so then you're you're really collecting rent from yourself, but on paperwork, it looks like that home owes everything, there's no equity to be captured. There's a really creative strategies and things like that. Really, you know, shore up some of these loose ends and do things in a way that the typical homeowner might not think of. So that's pretty cool. Yeah, you know, I think particularly as well regulations are changing so much. I mean, there's a lot of focus on the housing market right now. And as people get involved in Airbnb ease and ADRs, and things like that, folks have had to get creative. So you've seen a lot of these new strategies like equity stripping, or creating your own funds that have your house and that kind of thing are starting to get really popular. So that's what tell folks to is, you know, when you're getting started investing is having an attorney on your team, you may not need to talk to him frequently and a CPA, but they're, they're gonna be the ones that ask those questions that start pinging the thing, strategies like that, that you may not think of off the top of your mind. Well, with short term rentals being such a big thing now, a lot of people looking to get into that space was the cashflow increase. You spoke briefly about some of the tips and tricks you can do to protect yourself. Is there any other kind of larger game plans you would recommend for people who are looking to get into the short term rental space? Yeah, the short term rental space is interesting because it is so county specific, right? Like I can have a short term rental in Austin. And compared to what I have to have a short term rental here and you know, Birmingham, Alabama, totally different ballgame, working with the counties. And so you know, what I tell people, when you're going to get into short term rentals, first figure out which platforms you want to be on a lot of these Airbnb VRBO, they have resources to help you get started, that's a good starting place. It's free. Apart from that, though, really, before you get too far down the line of either setting up an LLC or moving a property, they don't really do anything until you make a call to the code office. Because what we have found is people will come to us and say, hey, you know, I've moved my property into this LLC. Now the code offices and I'm application, do I need to undo all of this? So for you know, for short terms, check with your code office, figure out exactly what needs to be done. And a lot of times, you know, they'll tell you, you can't use an LLC, or you can only use a revocable trust. That's where an attorney, your team is going to come in, because we can find those workarounds. But they are very county specific. There's not really a blanket recommendation. Yeah, it definitely helps to know your local, state and city cutting laws, especially where short term rentals are concerned. Yeah, absolutely. I mean, we're seeing so many changes on that. And I mean, we've got clients that particularly at a call with the guy today from Hawaii, who was talking about short term and Hawaii right now, or just, there's just not exist anymore, because the resorts got upset about it, which makes sense. But so now we've had to get creative with strategies there. So it's an evolving game, which is why I think, particularly when you're involved in STRS, it's important to constantly have your ear to the ground and know what's going on with it. Definitely, I've got a partner right now with over 100, which he owns part of it, you know, several of them and then manages a lot for other people. And, you know, the laws change, sometimes on a month by month basis. Just you know, with different cities, municipalities, trying to get involved trying to get their piece of the action if they can't outlaw them, okay, how do we tax them? Either just tax them and make money and let's run with it, or try to text the death as an alternate way to try and force them out. Yeah, that's exactly it. It's not like long term rentals, where you can move it into an LLC deeded over and then you just let it run, you've got to renew an application every year with these STRS. Like, it's just a totally different ballgame, the amount of involvement and oversight you gotta have into it. Definitely. So back into the trust side of things, how can trust be used, you know, on the kind of, you know, to take advantage of the creative finance side of things, or some people are trying to do subject to situations. And that's one of the suggestions I've seen put out there is move the property into a trust, you know, let the bank know it's going into a trust. And that, you know, the payments have been coming from the trust and such like that, you know, what's your experience with that? And is that something that you've seen work or cause problems? Or have you just not come across? No, you're exactly right. So we've seen it a good bit. And that is one of the benefits we use the truss for is this idea if you're going to do subject to or if you've got a property where your lender is telling you, you can't move it post closing, um, if they're saying absolutely not, we've done title, there's something called the St. Germain Act and the St. Germain act, it's got a lot of points to it. So I'm not going to do a broad overview. But essentially, if you've got a property that's got four or less units, and you move it into a trust, then that's going to be an allowed transfer, you're not going to have to worry about the note being called. And so that's a way to get it into a structure if you start it out in your own name, but then move it even if there's a loan involved with it. So we use trust a lot for that purposes. When it comes to lending. We use it for the subject two purposes. We've used them in conjunction with you know, there's some creative stuff you can do if you've got hard money financing, we've used them with reef eyes. So it really is dependent on your lender, but the tests are so flexible, right? And you don't really have to alert anyone to it when you change the party's inside of a trust. So if you need to make changes later on, you really want to sell a property there's way to transfer the beneficiary to avoid some transfer taxes possibly. There's there's ways to get creative with them. Definitely some great advantages to trusses. Yeah, yeah, we use them a lot. There's a lot of varieties. And I think that is an area of the law too. You're gonna start seeing change and good bids because they are becoming so popular. Um, So it's definitely something we're putting a lot of focus on. What is it about the trust that you think might be cracked down on here soon, or things that maybe the government, I think people are taking advantage of? Yeah, there's something called the merger doctrine, which right now, it says that if you can't have the grantor, the trustee beneficiary, they can't all be the same person, because essentially, they'll call it a sham trust, right? It merges it into one person. And that's an existing rule. But there are loopholes to that. As far as when if you update it at certain times, or if you've changed the party to someone else for a limited amount of time and change it back, that kind of thing. I think we're gonna see some updates about what that merger doctrine looks like, probably trying to make it a little bit stricter. But I don't think it's anything that is going to be prohibitive. I think there's so I think the government understands why we're doing certain things, and they're going to be, from what I've seen so far coming across the plate, it's going to be mild. Well, it seems to be an ever evolving, you know, there's just there's so many strategies, so many ways to kind of, you know, tackle a lot of these issues that, you know, that's why you reach out and hire your team to stay on the cutting edge of everything that's going on, and to keep everyone compliant and, and safe. And, you know, try to try to stay out of as many lawsuits as possible with preventative maintenance on the front end. Yeah, no, that's exactly right. You know, I think every generation says this too, but we are in a little bit of a boom, when it comes to the way things can be done, right? I mean, we're putting a lot of focus and seeing a lot of changes with crypto getting into the game and this idea of blockchain and so you know, inside of real estate, I think we're gonna see a lot of differences. I mean, I think there will come a point where closings are going to be done just from your phone with two or three clicks. And so inside of that, that you're right, in the it's important habit, somebody on your team, it's also just important to notice how things are changing and stay on top of that, I think the most successful investors are going to be the one that are incorporating these new tools like things like blockchain, into their their bag of tools, essentially, that they've got available to them. We touch on that, because that's one thing that has just seemed outdated to me for years and years is the closing process. And that's the hurdles you have to jump through. And some make it easier than others. And some make it way more difficult than it needs to be. But you touched yet a really good point there. Just now Megan about what the future could hold for that. What are some things that you feel like are just incredibly archaic, that need to be streamlined and things that you see as a real possibility? Yeah, so you know, I cut my teeth as a closing attorney, I spent years doing them. And I always felt the fact that they were done in person, and that you had to have some requirements to be a closing attorney in certain states and things like that. It's just archaic. Most of these documents are the same, right. And what I tell people with a closing table is like, if you want this house, you're gonna have to sign this, there's not much way around this. So I think a lot of the language you're gonna see being used is going to be different, you're gonna see a lot of these smart contracts come into play, where it's gonna be more templatized. It's just a couple of changes here or there. And it can be done much more digital and from afar. And I think we've already seen that in the past couple years, with the ability of using online notaries already becoming a thing. I mean, you're seeing how effect that has on closings. So I think from here, we're really just gonna see things continue to speed up and you'll see people start buying properties, you know, with crypto, and just the way things money is going to change hands the way contracts are in the past, back and forth. And that also does a lot for due diligence and compliance, right? I mean, we're going to be able to do that much quicker, because everything is going to be digital. And you're also going to be able to make edits and changes on the fly. So instead of closing getting delayed another 30 days, because the lender needs to go back and review this one item, you know, it might be a couple hours now, because I think you're just gonna see systems that move from a very antiquated paper pin 15 checkpoint system to two to three, we're good to go. That would be the greatest thing ever to any investor. If those things are streamlined and figured out Frank knows. I've done hundreds and hundreds of deals. And I I've never been I've never been to a closing in person, any of my deals. The only one time I've been to a closing is from my personal residence. That's it. I've never I've done all my closings remotely. And in fact, I'm doing my first notary close tomorrow. properties I'm selling in Florida. So that that part is is cool. And I hope every state can adopt virtual notary services because this is great. I don't have to go to the bank or don't have to spend 150 bucks to get all these kind of useless documents, notarized, you know, yeah, well, you know, when I first got started doing closings, if you miss a signature, the signature didn't scan and clear, you'd have everybody come back in. And so suddenly this closer than you thought that knocked out three days ago, you've got a three day rescission period and you've got to get it fixed within 24 hours, you know, and so that's going to eliminate a lot of that and particularly I know you mentioned wholesaling I think wholesaling is so interesting because you guys are the ones that figure it out, you buy it you flip it you're done. It's like a back to back closing process. And you're gonna see a lot more of that type of thing. Well wholesaling becomes the easy part because you're not technically you're just assigning the contract on the times we're like if I ask They close on the property and maybe I hold it for a while or do a double close or whatever, yeah, that's when the paperwork starts getting a little tougher, then I become this, I become the buyer and the seller in a short period of time, they got double the paperwork, the sellers paperwork, so is much more intensive than the virus paperwork. And it just becomes a whole thing. So anything that can streamline this process, and make it a lot more uniform, because even the county by county, state by state things change, even title companies, I've worked with four or five title companies in the state and county, and they all have such wildly different things that they feel like they need to get done. And these aren't necessarily things are getting recorded with the county, there's just things for the internal filing system, which is their process. This is our process. Yeah, yeah. I mean, it's your process. And that is overwhelming to a lot of new investors, because they don't know what to expect from deal to deal you know, for a while until you figure out that's kind of how the game run. So I think the more things get standardized and digitize things, like it's just gonna make it easier, you know, it's gonna make bring new life into investing, you're gonna see younger guys get into it. I mean, I think it's just gonna be a game changer. And that. So that's one thing we're talking about, you know, probably within the next 10 years, I think you're gonna see a big shift. That's one thing that terrifies me if all of a sudden I see them demanding that they get to use their title companies like Oh, my God. Yeah, I know, my title company. I know what to expect. I know how easy it is. Yeah. And such and you know, you can use your own on your side. But you know what, we'll send you this paperwork. And it'd be real quick and simple. Yeah, you could still send it your title company if you want to, that's fine. I don't want to write right now. I think that speaks to just like having partnerships like get find a title company, like man get familiar with their processes. And that's what you advocate to use for. And a lot of times, those are the companies that if you use them enough, they're gonna pet your face, they're gonna, like give you discounts and things so so to touch on something that you that both of you alluded to crypto, and real estate in general, is that something that your all's firm has started to get into not even not even just limiting it to purchasing and paying with crypto as a couple of transactions that recently happened? But you know, ownership via crypto and you know, holding actual title on blockchain or stuff like that are being owned in the form of an NFT? Or somesuch? Yeah, that's something we're definitely learning more about. I mean, it's not something I would say that we are experts on Yeah. But royally loves putting a big push into getting up to date on it. And so, you know, one of the ways we're seeing a lot of it use for our investors is this idea of doing syndications with it, you know, it's so easy now to hop in and get involved for like, pretty low capital amount, and then you've suddenly you're involved in the syndication deal. So, you know, I think people have always thought about traditionally when they talk about crypto and real estate's Oh, I can purchase it, I can sell this, but there's a lot of opportunities of how to use it, and just how to do things smarter. I mean, smart contracts are just huge. And I know I've already talked about it here, but I just I think blockchain is gonna be such a game changer. So and it's not new, I mean, you know, crypto, the stuffs been around for years, but it's suddenly blowing up. And people, everybody's trying to figure out what an NF t is and how it works. And so I'd say, I think you're seeing investors who before kind of wrote it off, it was too volatile, it's not an asset they want to get involved in, everybody's kind of paying a little more attention to it. Now, I've been putting a lot of my attention over the past year or so into NFT as a utility, as opposed to just a piece of artwork. And then specific to you know, exactly what you just touched on, you know, a tool for syndication or a tool as a fund development model. There are sites such as lofty AI, the that are out there now. And they're operating 100% Without accredited investors, and they're selling the entire investment homes, you know, where you buy, basically buy their tokens for a minimum of $50 per token. So they've kind of set their token price. And, you know, you can buy one token, you can buy in for 1000, tokens, whatever it is you can afford. And you know, the you can even pick down to daily, weekly, monthly, however, often you want to, you know, to receive your purse, your portion of the assets. And you know, the faster that you try to pull them out, you know, the fat, you know, the the lower the percentage that you're going to earn, or the lower the interest rate you're going to earn, the longer you keep it there. It's beneficial to them. But I mean, that's just proving, you know, and it's a hard one to look at, you know, how compliant do you have to be with the SEC at this point? Yeah, if you're allowing a lot of people in who aren't accredited investors and such is that anything that you've come across, or you're looking to, it's something we've been talking with folks about, and it's not something that has been raised as a big red flag for us yet, because I will tell you the legal teams that are doing it, they're working for companies like lofty they are, they're dotting their I's and crossing their T's because and they're also like, you know, they have to have crypto as an evolving legal niche. And so what what what may come up today Is this going to run into an issue with the SEC making it more it's probably not. And so there's definitely focus and attention being paid to it. But I don't know that as an individual day to day investor, that's something I'm getting too caught up in, I'm going to trust that the companies I'm putting money into, we're going to do their due diligence on their side. I just I like how accessible those kinds of platforms are making everything now. Definitely. There any podcasts or books or anything that that you're following right now that you liked? It's one of the questions we like to typically ask our guests. Yeah, well, what's got you intrigued? And what are you choosing to learn from? Oh, man. So, you know, the latest is we have a guy named Ron Galloway, who comes on our shows like a bit. He does a lot of writing and writes a lot of books, he doesn't a lot of shows. And so I am absorbing a ton of material he is putting out right now. And he is he is currently writing a book on crypto. And so I'm picking his mind and reading the manuscripts of that. But what I've been telling folks is, you know, I think there's so much going on in the world that is having an impact on the day to day inside of the real estate market. I mean, you know, I was telling someone earlier today, how the war and Russia how it's going to impact investments here and things you wouldn't necessarily think about. So, you know, I'm keeping up to date on specifically real estate, podcast books and things like that. But I'm also trying to just broaden and get a better scope of what are these brain mapping things that can be looking at, that are going to pink stuff. So for me, and I'm reading the BBC, and it's like the typical news outlets, and then just putting a focus on going into doing a search every couple of days and figuring out what the legislation looks like. And also just a ton of boring legal resources that none of your listeners want to hear about, honestly. The Ron Galloway suggestion, definitely looked it up. And I can see, he's reaching into a lot of things. So that's definitely something I'll be checking out, for sure. So appreciate the suggestion. Yeah, he's a wealth of knowledge, I definitely would check out whatever he puts out, it's all really well researched, and he's got a lot of interesting ideas on how real estate is going to change for sure. And what do you think, as somebody who's been heavily involved, you know, for a while in the business, is there any trends or anything, you see that, you know, maybe people can keep their eye out here for the next 369 12 months? Yeah, you know, for me, it really is, is what I'm focusing on is just this idea of getting my assets, not into alternative type of asset classes. So crypto has been one I've ever put enough focus on, but everybody's doing that as well. So what are these alternative things? So, you know, going into impacts of the war. So you're looking at things like cost of cord? And how can you get involved in these different stocks that are going to have any type of interaction with items that are going to be variable because of the world events that are going on right now. And COVID had the same impact. And so there, you saw a lot of people getting, you know, involved in things like oil and gas, and just alternative assets, maybe or not specifically real estate focused? I think in you know, as far as properties go, they're also going to see a little bit of a change here in the next year or so. Not a big one. But I mean, you know, with REITs changing and things like that, it may be time to look into things like syndications, if you haven't before, because like what we talked about those are getting more accessible. So yeah, I mean, for me, you know, Kryptos, the dramatic focus, I'll be honest, but I think there's a lot of ways to bolster portfolio at this point. There we go. I was trying to unmute, and my keyboard had disconnected itself battery fell asleep. The downside to a Bluetooth keyboard connected to a MacBook. So if you don't have anything else, Matt, if you have nothing that you'd like to nothing else you'd like to bring to the table, we'd definitely like to thank you for being here today, Meghan. We appreciate you coming in as a last minute addition. And we were originally expecting Scott and he unfortunately had to bow out. But you're definitely more than an outstanding guest. I've definitely learned a lot from you. Well, thank you. I appreciate it. Frank and Matt. Thank you guys for having me. This has been a joy. Thanks so much. Megan, if there's one last thing you can share with any listeners or viewers here about, you know, any tips or tricks or things to kind of keep themselves either compliant or just, you know, whatever you feel like, you know, a message would be the people that kind of get the first step going, what would that be? Hmm, that's a good question. Um, you know what I tell people, I think the most important thing is invest in what you think is fun. Anytime you are investing in what you like, you're gonna pay more attention to the compliance and you're gonna have a better return because you're gonna, you're just gonna put more focus on it. So, you know, I early on in my career, tried to shoehorn myself into investing into like the big five that you'd see on the Forbes list and things like that. And I hated it and I didn't enjoy it and I wasn't making any money off it because I want to focus on it. So find something you love, figure out get a team in place that can help you get your structures up and running and then make it as streamlined as you can take any variables offered. Excellent. And if any of our any of Our members or listeners were wanting were to want to reach out to you how would they get in touch with you? Yeah, so you know, Royal legal solutions.com is a great way to get in touch with us because we have a quiz that's available where you can answer a couple questions about your portfolio yourself and making sure you get connected with the right information. Whether that be our ebooks or podcasts, anything that we can do, but if you want to reach out to me directly, I'd love to talk to you it's Meghan at Royal legal solutions.com and I'm happy to answer any questions anybody has. Outstanding, quick and easy and great great easily found. The show is sponsored by the list guys, do you need more leads in your local or virtual market? One intense small businesses don't invest in any kind of marketing the list guys have over 35 plus list types to choose from and you can mix and match any list or criteria. We also use to skip trace lists and provide up to seven numbers and email addresses. Every list you purchase will be scrubbed against previous purchases the list guys are here to save you time. Contact the list guys today at www dot one, this guy's dot com. That's www dot the number one list guys.com So once again, I'd like to thank Matt for being here today and assisting Daniel had to step away. Megan, thank you for being an outstanding guests which really appreciate it. And everybody listening to hive. Just keep checking in. We're available on Facebook, we're at high fine CRM for the Facebook group, you know, hype with us podcast, as pointed out here in the corner on all platforms Apple, Spotify, we're also available on YouTube. This will play live on Facebook and YouTube as well. So thank you very much