HOW TO IDENTIFY A BAD INVESTMENT!!
Let’s jump into some red flags to look out for when you’re looking at investments. There is a TON of information on the internet and this episode will help you break down the do’s & don’t’s as you try to increase your cashflow.
I’ve seen a lot of sketchy “advice” from sketchy people in my days as a financial advisor and as a business owner which has taught me what kind of things to look out for.
It’s a scary thing to invest your money, even if it is a great way to start changing your life. That’s why I’m sharing what you can do to feel more secure in your financial decisions and how to avoid those sketchy tips from financially unstable people.
Listen now for 5 things to do before you start investing!
Watch here on YouTube!
TRANSCRIPTS
our Money Ripples channel that’s got daily videos coming out every weekday. We’ve got new content coming out there and we’ve got our Money Ripples podcast channel, which not only has our podcast, but it also has great shorts, and even sometimes we’ll do live masterclasses that we’ll do from that channel as well. So be sure to subscribe to both of those today. Hey guys, so this is actually an idea I’ve been wanting to share for several months ever since I saw an article out on BiggerPockets, thought it’d be a great one, and then of course somebody on my team shout out to her. She said, you know what, Chris? We need more on about due diligence.
How do people do research on these kind of investments? Really, how do you identify whether something’s going to be a bad investment or not? I’ll just tell you this, you can do all the due diligence you want, and there’s still always going to be risk. Anybody who tries to tell you that there’s no risk in a certain investment is lying. Even those that are guaranteed still, let’s be honest, even if there’s a 0.001% chance that we go into Armageddon or whatever, and then that blows up everything, even those guaranteed investments still have a risk associated with them. So like infinite banking, we talk about that. There’s still a tiny bit of risk, even though it’s probably less than a bank, there’s still a risk there. Now, when it comes to investing, especially alternative investments, guys, you cannot believe that there is no risk. Now, at the same time, of course, we always know that there’s big risks in the stock market.
The problem is everybody’s trying to convince you and sell you, literally sell you on the fact that it’s always going to go up over time, which yes, it does, but the thing is, it’s not going in a straight up curve. And so if it goes down for a period, that could ruin your plans, especially if you’re trying to literally plan to live your life financially a certain way. Now, when it comes to alternative investments, there’s always risks. There’s always issues that come out. So just so you know, I’m not giving investment recommendations here. I’m not even saying that alternative investments are the only way to do things. I personally love them better because I can make higher returns, and if I do it right, I could take less risk than I would if I just gambled it in a stock market where I have zero control.
My biggest concern, of course, is when people start putting their money with other people. This is of course what we teach a lot of our clients about passive investing. It does require other people. You invest more in the other people than you do just the investment. I want to go over some of the really five key points, the five things that I look at for any investment. This was inspired by, like I said, an article with BiggerPockets. Let me share that with you right now. This is an article that came out and it looks like in April of 2024, so just a few months back. This is one Jeff Vata, I think is how you say his name, talking about Western Wealth Capital. Now, Western Wealth Capital, I heard their name a lot, especially five plus years ago. There’s a particular guy that I know that he actually promoted me on his podcast and such.
He loved to promote this company. He was all about this company. And here’s the thing, guys, kind of as a side note here, you’ll notice that me on this podcast, I bring on different guests. Never ever, ever should you invest just because you watch a podcast, okay? That is not considered due diligence. Just because I bring them on does not mean that way. Now, I never had these guys on, but I know that there was a podcast host that did have them on very often and heavily promoted them. Why? Because he became a general partner on those deals and he would get paid based on those referrals. For me, that’s a big no-no right? And I know the SEC would agree with me on this, but anybody who’s trying to promote something like that and then should become a general partner so they can get paid because people will just send ’em stuff, not my thing.
If anything, I’m become a limited partner and usually become a limited partner putting money into something, but that doesn’t mean it’s a recommendation either. Just because I invest in something doesn’t mean you should either. So just again, want to give you that warning that if you are watching other podcasts or listening to other podcasts, never believe for one minute just because they’re on a podcast that they should be recommended or that you should invest with them. It’s just a great gateway. Sometimes I bring people on because they have great stories. I ask ’em questions and get their viewpoints, but it does not mean that you should invest with them. Well, Western Wealth Capital is no exception. Here he was. These guys were on podcasts, various podcasts, especially a few of ’em, and many in the apartment space and the multifamily space. They got beat up badly.
I’m not going to go into a lot of this stuff, but they went everywhere from people doing research saying, Hey, they look solid. I’ve even visited and talked with their team members. These people did due diligence on this company, but still things went wrong. And then next thing you know, people are saying, what’s going on here? I haven’t been getting comments or emails. I’ve been hearing that something’s not paying out, and they had a lot of deals that were in this place. Now, what’s great is that at least this is something that is good. So I’m not ripping on Western Wealth Capital. I think they’re great. I mean, obviously they seem like they were very professional. They’re doing what they’re doing. What I do love is that at least somebody was willing to comment to this reporter, to this person doing this blog post. I love that.
I love the fact that they’re willing to communicate. So many times, and I’ve seen this over the years, really the 20 years I’ve been doing this kind of investing, I have seen people so many times ghost everybody else not respond. If someone’s actually trying to communicate it, even if they’re not paying, if they’re trying to communicate, that’s a very good thing. They can get overwhelmed and bombarded with calls and emails, hate emails, to the point that they probably don’t want to open up their email box, right? Because hey, money’s a sensitive thing for people, especially when they’re relying upon it. And let’s be honest, okay? I’ve taught you about stewardship on the show a lot. If you’ve been following a show, you should know that becoming a victim. It’s one thing to say, Hey, I’d like to know an update. I’d like to hear some answers.
If they’re willing to put out videos and do that kind of stuff, great. But if you start going into whiny victim mode saying, Hey, I want my money, someone should throw you in jail. Or worse, whatever it might be. I, I’ve heard people getting death threats because deals have gone bad, and that is just inexcusable, bad, crappy victim behavior, and you’ll never become financially free that way. And I’m being blunt because I’ve seen it. I’ve seen people get in that place and then they never financially prosper the rest of their lives, not because they lost money, but because they believe that it’s up to everybody else. Now, if things go well, they’re happy, they’re great. They’ll even sing their praises. They’ll mostly sing their own praises. They think they’re so smart for making those decisions, but once something goes wrong, they blame everybody else but themselves when ultimately this decision is always up to you.
And so again, this is not taken away from the fact that this is a stressful situation. Of course, I get that. I’ve been in deals that have gone, either they’ve stopped paying out sometimes on a rare occasion, not so much lately, but before where they’ll even lost money, where everything’s gone. That can happen. That can happen anytime. This is why diversification’s so important. But I do like the fact that they do respond. They of course, responded just and said, Hey, just like many people, in our case, the rapid increase of interest rates didn’t give us time to react and be able to get fixed rate. If we could go back in time, yes, we would all get fixed rate loans, even if it meant that we had to pay more in fees upfront to do it, we would do it now, but nobody could really foresee the future that the feds would raise rates so aggressively, so fast that they couldn’t even refinance in time to be able to get the money out.
Plus, and again, I’m just paraphrasing this for you, even in this situation too, even in a situation where the interest rates go up and that can affect a lot of things and you can’t refinance, you might think, well, that’s fine, but at least you have the property. Well, remember, when it comes to commercial real estate, anything that’s beyond pretty much a one to four unit type of property, anything that’s less than four units, they’re more like a single family type of home. Well, in those situations, their prices are more determined based on appraisals. But when it comes to commercial properties like an apartment building, they’re based on profits. So when the whole industry, when all of a sudden interest rates rise, naturally what happens is that profits would go down. So if somebody tries to buy a brand new building, even if it were the same price, because the interest rates are so much higher, the profits less.
And so for somebody to want to buy it, they would have to have that price be lower. So the crazy thing is this, guys, is that we saw commercial buildings drop anywhere from 15 to 30% in value within a year. So even when someone’s like, I’m trying to unload this, sell it off, unless they had sick amount of equity upfront, which is one thing that you should be considering when you’re looking at something like this kind of situation, if it doesn’t have that amazing amount of equity in that property, right from the get-go before they do all the repairs and renovations, things like that, then all of a sudden they’re trapped. It could be potentially even upside down where they owe more on the loan than what it’s now able to sell for on the market. Again, it’s all based on business profits, not on what somebody just pays for buying their own house.
Does that make sense? So that’s a big, big factor. What’s happened is that interest rates rise, values drop. Now, if interest rates dropped, values could rise again. So many of these guys are either trying to hold onto the property and just make it work and cashflow as much as they can. Some of ’em are stuck, not even cash flowing anymore, or they refinance to the higher rate, and now their deal’s going under, right? And some people are actually losing all their money. I do see right here, I guess I had a freeze frame about somebody, a general partner there. Any case, long story short is this, guys, there’s certain things to look out for when you’re looking at investment. Again, this will not make you bulletproof. This is why when I talk to clients or people that reach out to us, we usually recommend they have at least 150,000 of investible cash.
Because if they don’t, the thing is, if you go all in and that deal is a minimum of a hundred thousand and all you have is a hundred thousand, you’re gambling on everything on that one deal working out for you. And unless it’s like an amazingly conservative deal, which it probably most likely isn’t going to be amazingly conservative, you’re taking high risks. So that’s why we always tell our people, people that reach out, they’re like, Hey, I’ve got 80,000. Hey, build up a little bit more and then we have more options. Otherwise, just keep building your savings until you get at least 150,000 and that savings could be old 4 0 1 Ks and IRAs. It could be equity and properties or investment properties, especially maybe not your own house, but that’s a possibility too. Anything where you could possibly get money out, that could be a potential for investing.
So I always recommend people when you’re doing this kind of stuff, if you’re looking for general guidelines or rules, again, not investment recommendations, you want to make sure that you have at least 150,000. So if you did 50,000 in three different deals, at least you’re a little bit more diversified. That’s my overall perspective on things. But again, there can be exceptions to that rule based on a situation here. Lemme get into those five key points, right? Five key points that I look for when I’m talking to someone who’s like a syndicator, especially with apartments and things like that, or really any investments. Now, this is not all the questions I ask because I give even our own one-on-one clients. We give ’em a lot more questions to use to do due diligence, but these are five good ones I think you could start with. So number one, what’s the track record of that company?
And most importantly, the track record, not only of the company, but also of that type of investing that they’re doing. So for example, I look for when people say, Hey, have you heard of so-and-so most of the time it’s amazing how many companies I haven’t heard of. There’s so many people that are trying to raise capital out there that I’ve never heard of. The first things I will do is I’ll look at the partners, I’ll look at about the team. I want to see who’s in charge, who’s actually involved in doing that deal. The big thing I’m looking for is one, how long has this company been around? If they say they started in 20 17, 20 18, I tend to be more skeptical. I tend to not want to do anything, even if they have somebody to say, I’ve been investing for 20 years. Yes, but someone could be doing real estate investing.
Maybe they bought single family homes for 15 years. It’s only been the last three to five years that they finally bought an apartment building and now they’re raising money for apartments. That does not mean that somebody is an expert in apartments. Does that make sense? It’s just like if all of a sudden you were trained to be an accountant and then you decided to switch to become a lawyer, just because you say, oh yeah, I’ve got 30 plus years in the legal professional space. But the truth is it was, oh, I spent a lot of years as an accountant. I just became an attorney last year. That is not a license for you to say, oh, that person’s experienced. You hear what I’m saying here? Even financial advisors, I joke that many of ’em have 30 years. Really, there’s just one year of experience repeated 30 times.
Even if they’ve been around for 30 years, they’re just repeating the same year over and over. It’s not just the number of years, but I do like to see, has this company been around for a while? What’s the track record? Even when I interview ’em, I love to hear about the worst deal. What’s the worst deal they’ve ever had? And I like to hear about it. Even if they lost money, I’m okay if they lost money, if they learned something that allowed them to change their model to be more conservative and to do better deals the next time, that’s good. If they didn’t learn anything from it, they just said, oh, it’s market conditions, oh, well, that’s another factor. Now they’re starting to blame outside of themselves, and really their risk hasn’t gone down. I’m looking for those people that don’t like higher risks. So again, track record doing investing, but also in that investment, if somebody’s been doing apartments and all of a sudden they switched to hotels, don’t go buy a hotel through them, right?
That’s not what I want to do. I’d rather let them Guinea pig and experiment with somebody else’s money, not my own. I, I’ve heard people do everything from vacation rentals to coffee farms, marijuana farms and hotels, and even self storage when they were doing apartments before, which is a totally different animal, even assisted, things like that, great, those could be great things. But again, if they haven’t had extensive experience, I believe at least 10 to 15 years, and lately I’ve even been telling people 12 to 15 years of experience in that place, there’s going to be a little hash mark against them. It doesn’t mean that I wouldn’t do it, but it means that I’m most likely not even going to entertain it. That’s number one. Number two is do they have their own money invested? See, here’s a problem I see a lot of times that these syndicators, they’ll gather everybody’s money that they can, but then they have none their own money invested, but then they’ll get the fees, they’ll charge the fees that they get paid on pretty much like their own salary for managing the deal.
I have no problem with somebody paying themselves to manage a deal, but I also like to know that if things were to go south, they’ve got a significant amount of their own money in the deal. If not, they have no risk. See, we’re taking the risk if we’re passive investors putting our money in that investment. Now, if they just get paid whether we make money or not, that’s not a good thing. That’s what financial advisors do, and that’s why I don’t like ethically what financial advisors do. That way I want to make sure I get paid, they get paid right, and they get paid when I get paid, and if it’s the other way, if I don’t get paid, they don’t get paid. I like that. Again, I’m not saying they don’t get paid a salary or some kind of management fee, that’s fine, especially if it’s within reason.
There could be some excessive fees there too, but I want to know, do they have their own skin in the game so that if this deal were to go wrong, their money’s at risk too because they’ll fight for it a lot harder than if they didn’t. That make sense? So that’s number two. So number one is what kind of tracker do they have in that kind of investment doing those kind of investments? Two is do they have their own money in the deal? Now three, you could look at as are they financially stable? Now, this could be a little trickier. Alright, so how do you know if somebody’s financially stable? This one’s tough. Now you can actually request a company gets independent reviews done. I love it when companies tell me they have their own independent reviews outside of their own firm, some other firm that does that.
There are companies that do that and they do pay for it. I did have somebody ask me, they said, Hey Chris, do you pay for these companies to do their own reviews? And my answer is no. They don’t pay us and we don’t get paid by them. So no, they got to do their own independent reviews. They got to do that. If they want to give a little extra button of approval, seal of approval, so to speak, it doesn’t mean that they’re not infallible. Someone can always have great financials one day and not the next. One thing I do look for is I look to hear the, whether it’s the CFO or even the CEO, whoever’s the person running the show, I like to hear their mindset. I like to know their belief system. If someone tells me that high risk creates high returns, I’m never going to invest with them because it’s not true. High risk just means more losses. That’s what it means. So I don’t want to fall into those kind of traps, and so I try to listen for clues to hear like, Hey, is this person someone who really is careful and they’re conservative with their money?
They really are serious. They look at their integrity is like the number one factor in their life. Who are they? And they don’t just give it lip service. They really legitimately want that. And sometimes it requires you to talk to other people that might know them to even understand. That’s one thing I love. We have a whole forum for our VIP clients that they’ll talk to each other and say, Hey, I’m looking at this company. And it might even be a company that we know as well, but they’ll say, well, anybody else? So they invest with them. Have you known them for a while? How long have you invested with them? What are they like? Do they actually pay? Do they say they’re going to do what they say they’re going to do? Integrity, that kind of thing, right? And it’s great to see that conversation back and forth with people say, yeah, I’ve actually had money with these people since 2017 and they’ve been great, or I’ve just started investing in the last few months, and so far so good.
It gives people kind of a better perspective to see. Now, a few months is definitely no way to tell, but track record is everything and financial stability is a big key. One problem I saw with one company is that they got so big and they try to grow their teams so big, so massively, and really they didn’t have to. They had 200 employees and they were managing, I think somewhere in the ballpark of around like 1500 rentals. Right now, 200 employees do not need to manage 1500 rentals, but they had hired so many people doing different things. Eventually what happened is that it got too top heavy. It got too expensive, too rich, when all of a sudden things shifted in the market, they couldn’t shift with it. They couldn’t adjust fast enough. They couldn’t lay off people fast enough, and as a result, people lost money.
Good news is at least they had some assets they can let people have claim on. I like the fact that this guy in particular had integrity to say, you know what? Some of these properties are not even worth what we had in total cash. That’s another issue too, right? They weren’t monitoring that very closely. So they said, here, it won’t pay you everything, but here I’m going to put you title on this property. So they basically were letting people foreclose on them. In my opinion, the guy was at least trying. But the problem was that the company wasn’t financially responsible. So a lot of times I ask people, I said, well, do you have reserves? How much do you keep in reserves at any one time? Not that you have in your bank account right now, but you try to keep there that you don’t touch, you keep liquid.
There’s one group that we’ve had a lot of investors invest with that. One of the great things is they keep a lot of cash on hand and they’re very open about it. Now, they may not share it publicly. They won’t come on a podcast like this and share their numbers, but they will. One-on-one tell people, yeah, here you go. I even have one friend that’s an amazing investor. He even showed people, his bank account statement says, here’s my bank account statement right now. And he even offered people, he’s like, listen, I know you’re freaked out because things are going crazy in the market. If you want to pull out do it, I’m fine. But otherwise guys let you know I’m fine. I’m feeling just confident. I’m safe. No matter what’s going on in the markets, I’ve got more than enough reserves. I make sure I’m doing a conservative enough job on the investment.
I’m fine. And so most people kept their money with him, even though there’s people all around him failing. He was one of those few people that stood as a pillar among all of that mess going on. So financial stability is a very, very important thing. It’s not just about the investment, it’s about the investors and especially about how healthy their company is. Alright, the fourth thing, market comparisons are big. If this is something like someone’s trying to sell you a property, they’re trying to show you that, hey, these apartments are going to rent for X amount of dollars. You might want to start to really look at the numbers to see if they’re good, because I’ll tell you this, when company tries to send you what they call a proforma, that proforma will have all these numbers that they put in here, A lot of assumptions, and remember, figures don’t lie, but liars can figure.
So be careful that you’re not just being caught. So if someone says, I’ve got properties in Indianapolis, great. Let’s find a similar property. And this does require a little bit of Google research, but you can Google, Google, Indianapolis, Google. What are the top employers in that area? Do they have multiple employers? That’s another thing. I don’t like to be invested in an area where there’s one company employing everybody, because if that company goes under or in trouble, even if it’s government agency, they can still be cut back and create layoffs, and that could destroy a community. So look to see if there’s multiple industries, multiple companies are employing people. Also look at average rents. If there’s a similar apartment building, what’s the average rent? Is it as high as they’re claiming because they’re saying, oh, we’re going to renovate it and you’re going to rent it for this many dollars per month.
Say it’s $1,200 a month, but the average rent in that area is 800 a month. They might have a hard time getting commanding $1,200 a month. So look at that. Look at different values and whatnot. If I’m looking at buying a single family home as a rental, like a turnkey rental, I’ll look in that area because I don’t want to buy something that’s above the average price of that area. It’s got to be right around the average or less for me to want to buy it. Why? Because if anything goes wrong and I want to sell it, I want to be able to sell it more easily than somebody who has this McMansion or this really nice grade A property here, this class A property that maybe sells for really high price, and there’s people that love it, but not many people that can afford to buy it, especially in that area.
You got to be really careful because you could be the one in competition. I’ve seen that happen in the last recession. It could always happen again. So make sure you’re doing your own market comps by using your good friend Google. Google’s a great tool to use. By the way, Google’s a great tool to use if you’re trying to research that company and see if there’s any negative reviews. You can even Google that company reviews or that company scam or fraud or something like that, and even Google the person’s name fraud or scam and see what you come up with. And then the fifth one of course comes now to the investment rather than the investor is, do you understand the investment? So really, we’re actually, we’re not even talking about the investment. We’re really talking about you. We do You really understand the investment and how it works, why it should be paying you, why it’s actually needed.
I had someone approach me. They said, yeah, there’s this guy, he’s doing options trading, so he’s buying selling stocks and options, and he’s paying 10% a month. Well, the biggest thing in my mind is how does that guy make 10% a month? Because if you do the math, this guy even had a hundred thousand dollars, he’s going to be the richest person in the world in just 20 years or less. So how do they make that kind of return? Oh, well, he does options trading well, yeah, yeah, I get it. I used to do options trading too, and what makes them so special? In fact, if he’s so amazing, why is it taking your money? And I’m not saying people can’t do that, right? I get it. When you get successful at something, everyone wants to know how you did it, right? So either you teach ’em a course on how to do it or you just do it for ’em, which that’s what you see.
Sometimes. These people try to do it for them. Anytime I hear people saying, oh, I’m making 5% a month, 10% a month on this deal, you’re going to lose money, period. It is just a hundred percent of the time. Always, always happens. I will tell you, your thousand bucks or your a hundred thousand bucks, whatever, you got to invest with them will not make you billions of dollars in the next couple of decades by putting your money with them. It just never ever happens. Okay, so do you understand the investment well enough? Do you understand what’s invested? I knew one company that was called 12 Deadly Pro. This is in 2006. They actually paid you every 12 days. They paid you a 24% return. Now, if you understand the rule of 72, right? 24 divides into 72 3 times. That means for every three 12 day periods or about 36 days, if you reinvested your money, you would have double that money if you let it compound every 12 day cycle.
Guys, that’s not going to happen. And I remember when that came out and I asked the guy, I was like, how do they make this much money? How they can they justify paying so much money? And he said, honestly, I don’t know. They don’t say what they invested big red flag, right? Even he said, he’s like, well, is this 5,000 bucks? I’ll gamble it and see what happens. He lost it. Needless to say, he lost it. It was a Ponzi scheme, okay? You got to understand the investment really well, at least to the point where you could say, I know why this works and why it makes sense that it works. So do you understand it? My mantra for me personally is this, when in doubt, stay out or if I’m already in the investment, when in doubt I might want to get out. That’s something that’s served me well over time, and I’ll kind of end with this.
I’ll give you a bonus here. This is something that I’ve learned as well, is what does your gut say? At the end of the day, it really comes down to how do you feel about it? Now, yes, your emotions could be wrong, but if you’ve done really good due diligence, you’ve kept a level head about it, you’re not getting emotional, you’re not getting overly greedy, stay away from the greed, but not overly fearful where you’re just being frantic and scared and you don’t want to try anything. You get in the middle, that little nice mushy middle where you don’t have the high emotions with it, and you’re like, okay, everything seems to make sense, but if it makes sense, but then still something in the back of your mind doesn’t feel right, something feels off, follow it. I’ll give you an example, real life example here.
There’s a guy I met through another group, another investing group, and this guy was the nicest guy in the world. Him and I became friends, awesome, awesome guy. Even my family members got to know him. My kids got to know him a little bit too. I mean, just the most amazing nice guy you’ll ever meet. But I remember trying to ask him about what investment deals he has. I was curious for myself. I was curious because I know clients that are looking for deals, and I’m like, tell me more about your deals. And I’d never get a straight answer. I mean, he would do a little bit of this. He’d do a little bit of turnkeys, do a little bit of lending, he’d do a little bit of apartments. He’d just do a little bit of everything. And it was so a DD that I just like, I can’t follow it.
Nah, I’m not interested. And every once in a while he would reach back out wanting to see if I want to refer clients over. And of course I was like, nah. I mean, no, we’re pretty good right now. Again, nicest guy ever. But I was just like, no, I just don’t get it. It doesn’t make sense to me. I know what turnkey rentals are. I know what it means to lend, but his model didn’t seem to make sense to me the way he did things. It was just very sporadic. And so I stayed away from it, could you not? Now I find out, this is just in the last month, this guy ran off with $26 million and nobody can find him, including his own family. They have no clue. He just out of the blue disappeared. That right there, guys. I mean, if I hadn’t trusted my gut and there’s lots of people that did due diligence on this guy and put money with him, and now they’re panicking, they’re freaking out again, it was my gut.
Now, I’m not always a hundred percent correct. That’s why I don’t tell people to trust me. Do your own due diligence. Follow your own promptings, right? Follow your own gut and your own inspiration there. But I’ll tell you, if it didn’t, it just didn’t quite seem right, and that has actually saved me more times than not. I’ll tell you. Here’s another bonus too. If you’re asking a lot of questions and they get mad at you or they get impatient, say, listen, I got plenty of people to get money from, or they get defensive, whatever it might be. If they start getting a little bit defensive or they start to kind fight back on your questions or give you a lot of ego, my rule, this doesn’t have to be yours, but this is mine. Never invest with them. Because if you ask more questions, then they’re getting a little bit upset and they even say, you know what?
I got plenty of people who want to give me money. If you have doubts, just don’t do it. That’s fine. If they pull that crap on you, and I’ve even known people in the infinite banking space doing this kind of thing, don’t do it. The reason they do that is because they know there’s something wrong and they don’t like when you ask more and more questions, you should be willing to ask as many questions as you want to feel comfortable doing something. That’s my personal opinion. So anyways, guys, I know I kind of spent a lot of time on this, but I really want you to do the right thing. Again, I’m not giving investment recommendations. I’m not saying these questions are all you should ask, but they’re a great foundation to start from so that you can be able to ask deeper questions and get to the point where you might feel comfortable doing certain investments. So my challenge to you to work on that, if always, if you’re like, say, Hey, I want to have some help here. Maybe one-on-one, and how do I do this kind of stuff and have somebody to bounce ideas off of us sounding board even, and somebody who’s not emotionally attached to these things, Hey, reach out to us, money ripples.com. We’re more than willing to serve you. But in the meantime, be sure to be wise and follow your instincts, follow your gut, but do your research as well. Make it a great day.