Ep 529: Property Management Is Not For Everyone

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hey welcome to the H podcast I'm your
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host Danel Martinez today we have a
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returning guest Mr Jake guso from H out
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Trucking if you have not seen the other
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episode please go check it out it is a
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good one we cover a lot of some some
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cool stuff with technology and Trucking
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in real
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estate so you have not seen it please go
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check it out I also have my returning
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co-host Mr Kyle Thompson but today is
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deal breakdown where we cover cool
Chapter 2: Real Estate Adventures in Miami.)
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interesting stories since Jake is from
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Real Estate Andy software and trucking
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stories we're going to do two stories
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today so what is your real estate story
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then we'll cover a trucking
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story real estate story what do you what
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do you want in terms of interesting from
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a real estate perspective I mean it
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could be like title problems it could be
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I mean you got you got a lot of
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commercial real estate experience I'm
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sure you mean I can come up with a like
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if you want
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some I've got some funny ones so I cut
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my I kind of cut my teeth in we'll call
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them class you know
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D and C retail properties in Miami right
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okay and that was trial by fire so he
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had this one property and I'm like I'm
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fresh like I don't know anything my boss
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is telling me to like ride around with
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leases in my car as if people are going
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to sign retail leases you know on the
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spot but we go to this you know I'm
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going to show this one space in a
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shopping center and like a you know in a
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questionable area that you like
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naturally don't want to be in right but
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I don't I don't don't any better I don't
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pay too much attention to that at this
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point right like I'm like this looks a
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little strange so we get into the space
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I meet the prospect there and first of
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all the space is Pitch Black and it's
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got a bunch of different little offices
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right like there's a retail it's a
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retail shopping center but it's like an
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office space and we're walking through
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and the guy just Sparks a joint it's
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while we're walking through this space
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and I'm a little like weirded
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out and he turns and he goes to me he's
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like like you're going to give me this
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space for free and I'm like I'm not the
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landlord first of all so I can't do that
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um and he's not going to give it to you
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for free so like what are you trying to
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accomplish here and the guy pulled up
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his shirt a little bit and he flashed
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the gun I freak out I run out of the
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space I don't even lock the thing I get
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in my car I drive away as fast as I can
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and I call my boss I'm like hey man this
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guy's in the SP in the center he's got a
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gun blah blah blah he's like yeah don't
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worry about it too much just wait a
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little while and then go back and lock
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the space okay waited probably like an
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hour I go back there I lock the space
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guy's gone but ever since that day I got
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my concealed Perman and don't go into
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dark spaces that are unlit in
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questionable areas when you're a novice
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real estate leasing
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broker I don't know if that's the kind
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of story you wanted but no that that is
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perfect that is perfect because in my
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head I'm like my head is like you
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probably has like cartel you're you're
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in Florida Southern Florida you got
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drugs and Miami is a a big there's some
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of that too like there's a the first
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apartment building that I was ever
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involved in in managing so my first role
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was basically lease and manage
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everything right he was like lease and
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manage my Apartments lease and manage my
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shopping centers lease and manage my
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office buildings all them were terrible
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locations right but it was high yield
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stuff yeah and the first apartment
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building you know same thing I mean cops
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there all the time um it was it was a
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now in retrospect it was like a
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traditional you know value at apartment
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play when those could still be had in
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South Florida so he bought these things
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he TR you know he started evicting a
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bunch of people that were delinquent and
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late payers and I was the guy that had
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to go and you know meet the sheriff and
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you know drag the stuff out in the which
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was really rough to see um but I got to
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see some crazy stuff guys pulled you
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know weapons one time a cop found a
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grenade A drugs I mean everything
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everything I learned a lot I mean trial
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by fire truly with that guy
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that's true you're you're in a tough
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business that was a tough business right
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I mean like property management is a
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tough tough business especially if
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you're in a competitive market down here
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like I was working for a guy that owned
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and operated these things but if you're
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a property manager down here it's really
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competitive and if you're managing some
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of these properties that are you
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know tough I would say I mean it's it's
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almost impossible you're working on 5
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six% man management fee to deal with
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things like that like I I don't know how
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people do it to be honest with you it's
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the toughest
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business that's just crazy um welcome to
Chapter 3: Lessons from Property Management.)
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the property management lesson 101
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yeah yeah don't give your cell phone out
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if you're an aspiring property manager
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never give out your cell
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phone what's funny is you said you're
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I'm not a property manager
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anymore I'm not a property manager
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anymore me call me text me call me text
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me you didn't
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learn all right let's talk about uh your
Chapter 4: The Stolen Truck Incident.)
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Trucking story so if you didn't list see
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the episode uh Jake is a property
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manager software for it's property
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management software and we sell it we do
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not manage any facility property
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management software for truck drivers so
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he has funny truck property management
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software for truck parking yard
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operators right Services truck real
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estate guys he's real estate guys right
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so he does service and help landlords
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with truck driver situation so he hears
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stuff through the Great Vine for truck
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driving stories so you have a truck
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driving story too which I think is
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priceless if you want to jump into that
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one the stolen Truck Story yeah yeah
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that one yeah so guy I mean this is a
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this is a monthly parking
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facility one of the
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drivers not to AR but he leaves you know
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he he left the country he had left his
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truck in the yard it was unhooked just a
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bobtail he left his keys in the truck
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and the truck unlocked for weeks we
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found this out later but you know he had
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left it for weeks truck gets stolen
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driver calls our office gets a hold of
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me like what are you gonna do about my
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drug being stolen I was like first of
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all we don't Manage Property so don't
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call me that would be step one second of
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all what do you want me to do about a
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sto a truck you left the keys inside and
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it was unlocked that think's halfway to
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you know on a container to South America
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somewhere I have no idea where this
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thing is going call your insurance
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company but then you find out you know
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you can't tell your insurance company
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that you left the keys in the truck
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because they're going to deny deny deny
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so he no longer parks in our customers
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yard I'm sure he filled it quickly
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though
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yes these uh these truck trucking is a
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rough business and people that go into
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owner operators
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the hundreds of them thousands of them
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get go into Trucking as a business for
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themselves annually and hundreds and
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thousands of them get out of business of
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trucking
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annually so it's a high churn take take
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over turnover for every aspect of the
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business it's high turn I mean you got
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to protect that asset I mean those
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things are hundreds of thousands of
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dollars like our customers all have some
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form of security in the yard but
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how like how can you expect someone to
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cover you if if you leave the keys in
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the truck and the truck unlocked for
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weeks it's not like you did it over
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night like you were coming right back I
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mean you left it there for weeks it's
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insane it's insane so that's one story I
Chapter 5: Closing Thoughts and Industry Insights.)
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I I think I think it's a it's it's a
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good I think it's a good uh Niche that
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you're in I love I love the model um
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this has really been a good conversation
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as a whole and I really appreciate you
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coming on and uh bantering us and
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sharing some cool and interesting
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stories from your real estate and and
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current experience in in
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trucking I think it's hilarious thank
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you for having me for everybody here go
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like share subscribe you know what to do
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we'll see you in the next episode thanks
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for tuning in have a good day guys bye
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content if you have leads that you need
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to dispo anywhere in the country please
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visit hibc doio like Hive buers club.
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