Nathan Daniel (00:00):

All right, well, today we have Mr. David Thomas from Thomas real estate services in Fayetteville, North Carolina. And,uwe are going to be talking a little bit about ancillary businesses inside of a brokerage, and I wanted to bring David on,utoday because David, you have a property management company that you have on top of and alongside of a residential real estate company. Is that correct?

David Thomas (00:46):

That is correct. Awesome.

Nathan Daniel (00:47):

Well, we're going to get into it, but before we do that, I want to say first off, thank you for being on the show. And also tell us a little bit about yourself.

David Thomas (00:58):

Well about myself I'm actually retired air force. I retired after 24 years of service and joined my wife in real estate. She got her license a couple of years before I retired. We were doing regular standard residential brokerage within about two or three years. We decided that we needed to add property management to our business. A lot of our military clients were leaving. They needed someone they could trust to manage their properties. So in 2012, I actually started as primarily a property management. I started my firm while both my wife and I were brokers with a different firm. You can do all affiliate in North Carolina. So I started aside from, and I did nothing but property management up until 2017 and did it out of my house. 2017, we decided to go full service, independent. We got a brick and mortar office. We're up to about 12 agents on the residential side. I have two assistant property managers and things are going quite well.

Nathan Daniel (02:11):

First and foremost, thank you for your service and that you said, how long was it? 24 years. Is that what you said? Four years? 24 years. Thank you for your service. I appreciate that. Thank you. And to your wife and your family too, cause I know that's that's on them as well. I know we have family members also in the air force that have retired and, and so anyways, that's, that's cool. And thank you for that. So really starting in 2012 is when you started the property management and now how many, how many properties are you at today with the property?

David Thomas (02:43):

I've been up to about 120 at the end, around the end of last year, but our market here has shifted from a buyers to a sellers market. And my wife has sold like 20 of my rentals. Some are just under like a hundred right now, but I'm hoping to back up to about 120 to 150, 150 is really where I'd like to be.

Nathan Daniel (03:05):

I know that a lot of as the properties, obviously the, the market shifted to very much a heavy sellers market across the country. And, and especially in those lower, I don't know what your price ranges are, but in our market, anything under 200,000, right now it's gone like overnight and there's multiple offers, which is good thing, you know, I mean, for, for several investors, if they're like, Hey, this is an opportunity do 1031 or something go into multi-family or another property. Like there's, there is some opportunity there. So I get that. So, all right, so we're at a hundred now or around a hundred and you still have your 12 agents that are producing in, in everything. So let's kind of go back to the beginning, like if I am a real estate broker and I want to consider doing a property management, like we one, we're going to talk about like what to avoid, right.

Nathan Daniel (04:03):

There's going to be some things like, I would not do this again, but what do I need to make sure I ensure that I do to set it up for success? And then how do I not only turn this into a, a very good profit center as for the, for the company, but also turn it into opportunities because I do see it as an opportunity for the agents that are on the residential side as well. So I'd really like to cover those three points if you're open to that today. Okay. So let's start there. Like, let's go back to the beginning and starting this thing, right.

David Thomas (04:36):

The first thing to do is research what your real estate laws are in your local jurisdiction. We're lucky that we were able to have dual affiliations in North Carolina. I don't think that's the case in all States. So your first step would be to check with that check with your managing broker to see if they would allow you to do it. A lot of brokers would not because of the increased reliant liability property management is the most litigious part of real estate. It also sees the highest number of licensed law violations. So I would be hesitant in fact, within my own company. Now I do not allow my agents to manage properties. It's you can do it within the scope of your license, but I don't allow my agents to do it.

Nathan Daniel (05:26):

So then if an agent comes to you and says, Hey, I have an investor, they want to buy this property. You, you say, okay it needs to be managed under, Under the Firm. And the firm is the one that does it, or they need to find another person because we can't do any property management under the residential side.

David Thomas (05:47):

Okay. so, and then once you get that sorted out, you figure out what kind of, how you're going to structure your firm. Then you have to figure out how you're going to structure your business whether you want to start an LLC, which was what we have done or an escort. Both of those are important. Then you have to go through your secretary of state and get all that set up and then decide what kind of structure.

Nathan Daniel (06:12):

Okay. So, And so in this, in this particular case, like you're the owner of two different companies that are doing two different levels of service, Right? No property Management, residential real estate, is that what I hear?

David Thomas (06:27):

It's not two separate firms. I have one firm license. And it, I actually have a DBA doing business as, so Thomas real estate services is the firm. That is what I'm registered with the state as an LLC, but I do business as team Thomas rentals.

Nathan Daniel (06:44):

Perfect. Okay.

Nathan Daniel (06:46):

So then let's talk a little bit about the liability. I know you said, definitely check with States, which we highly recommend doing that, obviously, because every state's different and you want to make sure you do that as far as liability is concerned. Is it a different type of insurance? Cause I know on the residential side, just I Errors and Omissions, but is it a different type and different level of insurance that we need to be to

David Thomas (07:05):

You definitely need to talk to your provider and let them know that you're going to be entering into property management because there will be an increased cost for that, for that coverage. Okay. All right.

Nathan Daniel (07:20):

Recommendations. Like if I'm just starting out and I'm like, yeah, I'm going to dabble in this right now and get 10, 20 properties pretty quick. Is there a level of insurance we need to be looking for? And if not, maybe it's just the guidance of the, you know, facility. I don't know.

David Thomas (07:35):

I've actually found, you know, to be just not a big hurdle to get across when I, my, you know, policy I keep telling them, I'm adding, I keep telling them that I'm adding agents. They're like fine. We'll reevaluate it. You, at the end of the year, hasn't been a big deal. They know I do property management. They don't put a lot of limits and things like that.

Nathan Daniel (08:02):

So then setting up the the structure of the company, like in understanding the law created like the liability, putting all that in place, you also have to have an escrow account, like a specific type of escrow account.

David Thomas (08:16):

Right. And so you need to find a bank that does do commercial banking. And that has to be set up as a, has to either say trust account, which is what we usually term it, at least here or escrow account on all of your checks, all your deposit slips and your bank statements. Okay. You need to have your EIN number through the IRS. In order to open that with the bank, you couldn't open a trust account just as an individual. Okay.

Nathan Daniel (08:47):

So then as far as I've got that, I've got that set up. I've got my trust account or escrow, whatever it's called in the state and by a commercial banking department, let's talk about like technology. Do you use like a spreadsheet to track this? Do you use QuickBooks that are, are there specific real estate property management programs? Like how, like starting out, how did you start out?

David Thomas (09:13):

That was one of the big things I wanted to research before I started this. There are many property management software companies out there that provide total systems. The one that I choose is actually chose is called Rentec Direct they're out of Washington state. They are a comprehensive program and I've been with them since the very beginning. I've actually grown with them as they've or they've grown with me as my company has gotten bigger. They're very affordable is actually based on the number of properties that you manage. And they provide a full service solution. So all my trust accounting is in there. My business and operating account, I can account for all that with their accounting software. They have screening modules. I can do all my background checks through them and it's very affordable. They do all my applications are online through the company. I can accept credit cards or debit cards through their their system. And the tenants can all pay rent through the system too. They do I debit everyone's account from an ACH do automatic clearinghouse payments. And that's how I pay my owners too. So everything comes in through the ACH. I deduct my management fees, any repairs, then I send the money out to them.

Nathan Daniel (10:35):

So this, it sounds like that's a totally immerse program that will actually help you run. The company

David Thomas (10:42):

Are really a good software system is indispensable if you're going to run this business. Okay.

Nathan Daniel (10:47):

So, and we know technology is so diverse and there's so many different pieces of it that it works for some people and not for others if I'm looking and, and definitely thank you for the recommendation. And I'm sure people are going to check into that. If I am looking for something, what do I want to make sure that I incorporate I, and I have in here, like accepting applications, payments, trust, account, ACH, making sure that the, the software does that. Is there anything else that needs to make sure that it's capable of doing

David Thomas (11:21):

You want to, the biggest thing in, in our state is your trust account accountability, every month you have to do a reconciliation and you have to do a trial balance, the reconciliations to make sure all the money going in and out of your is account of form your bank statement, your trial balances to make sure each individual landlord's account is consistent and correct. Okay. So those are records that we have to do every month. They are auditable by the state. That is what gets most people in trouble when they are not doing their accounting. So North Carolina will actually has sort of software that's certified that will produce the kind of reports they require. So that's definitely something to look into to make sure that what your trust account reporting is what is required in your state and can the software produce that kind of report.

Nathan Daniel (12:21):

So having definitely sounds like there needs to be one, this is also goes back to the state and what's what would be an approved technology for the state. So if you were audited because of the number of complaints and everything else that happened inside the property management world, making sure that your system is set up in a way that you can click a button and instantly give a report to whoever's asking for it. That shows a trail. Yes. Okay, awesome. Okay. So then, as far as the application, let's, let's transition to the application process, cause I know you said the technology did that with having so many properties and you said you had two assistant managers, you have 12 agents that serve on the residential side with applications that come in and property turnover. Like can we get into that a little bit?

David Thomas (13:20):

Sure. with the applications. So we, we do a credit check, social security number, verifications criminal background history employment verification all the standard kind of stuff. What we found works for us is our standard is we are looking for 600 credit scores. We put most of the weight on people's credit score. It's the only objective factor that we can judge, you know, tenants how well they pay their bills and what we will do for couples. We will average their credit score and that can actually add them together, divide by two that can help people or hurt people. Keeping those kinds of high standards I think is very important. It has actually helped us stay out of court. My dad told you the other day that we've only been to court to evict people twice since 2012 property management companies in this town are in court every month. And that's why I wanted to avoid, obviously, because it's better for the tenant. It's better for my homeowners. Just not to have those issues. So with the better job we do have screening at the beginning, the less trouble we're having throughout the term of the lease.

Nathan Daniel (14:40):

I know I used to manage a few properties. And, and that was that was a big piece for me when I got their reports. I would look at the cause I, depending on the length of account that they have open, like the credit reports are really good and like green, yellow, and red, and you can kind of see trends and patterns in people's work. Like that was one thing that I was always able to do is go, Hey, like I see you're really good on credit. Then all of a sudden something happens in this year and everything like stop, like talk to me about what happened, you know? And then we can get into a little bit, like, is it a, is it a pattern or was it a major life event that caused something to happen?

David Thomas (15:19):

Right, right. Do people have those issues? They get sick, they get divorced, they lose their job. And there's always gonna, there should always be flexibility in your system, but you have to apply your standards across the board equally. The last thing you want to do is get any complaints about your screening process. So it all has to be fair. You need to have those standards published it's before they finished their online application that whole list of criteria is there. So it's all published. So they understand it upfront. But at the end of the day, I will take with that background screening and I will discuss it with the individual homeowner, the landlord and let them make the final call. So I'll give my recommendations. I think, you know, it's kind of risky, but you know, it's up to you. You know, here's, what's happened in the past. You know, and sometimes you would make an exception, but it's going to be an informed decision made by the owner of the house

Nathan Daniel (16:23):

To make that decision. So I have somebody that comes in, they get approved and you're like, you know, this is a good person that we can then go out and show some properties to. Or if there's one specific one they want to look at, do you ever find yourself in a position where you're like, you know, this person actually can qualify for a home. Do you go that route with them? Do you offer it or do you continue just down the path of rental?

David Thomas (16:48):

I do all the time and because we're in a military community the vast majority of people do have their VA home loan entitlement. But they've never used it. They don't know how to use it. They don't know what the processes so part of my discussion when I'm out there showing the houses is I will do those pre-screen questions. I'll ask them, you know, here's the disqualifiers, if you have collections or judgments for rental property, you know, do you know offhand what your credit score is and that's how I ask them. And I'll actually prescreen people on the phone to before I even set up appointments. But if they're telling me they, Oh, I've got a six 50, I've got a 700, like really, you should probably be buying instead of renting. Our home prices here in Fayetteville are very affordable. You can usually get a mortgage for less than you're paying for rent. So I definitely have those conversations and I convert two or three people a year, if not more. And that's one opportunity. I give my agents, my residential agents. I give them the opportunity to show potential tenants, my rentals and make those conversions

Nathan Daniel (17:58):

On the front end. And you're also allowing them to also show the property as well, like to build the relationship with the tenant, actually let them go out. And if they're like, you know, we do want to rent, you'll actually let them take them out and show the property.

David Thomas (18:12):

Oh, certainly. And you know, and I stress to my agents. You know, showing Reynolds is not particularly profitable. Our commission on a rental property here is 10% of the first month's rent. So you might make a hundred bucks, but it's somebody else to add your database. It's a new contact, stay in touch with that person throughout their one-year lease. You may be ready to buy when that lease is coming up. So it was an opportunity for them to, okay,

Nathan Daniel (18:40):

So then you're giving them the opportunity to follow up, build the relationship. And at the same time, now they're in your system as far as being a, a tenant. And then as the company, you're probably also doing your routine checkups and everything on the property. Do you find a lot of people at the end of their lease, having conversations with you about buying or staying put or break? Like obviously there's three choices, right? We stay put, we break the lease or we're going to go buy a house. How often do you find them transitioning to buying a house?

David Thomas (19:13):

Quite often, very often has happened. I think, I think for we've handled probably four or five tenants that are buying so far this year through us now I've had some tenants buy through other agents. I don't like that to happen. Those are missed opportunities for us. And that's something that we need to work on within our company is making sure that they know and I, and several times I said, Oh, I didn't know you, you bought and sold houses too. It's like, well, that's our really our primary business. So, and that is a missed opportunity for us and any, any one of our tenants that finds another agent with another company is a missed opportunity. Yeah.

Nathan Daniel (19:58):

Right. Having some kind of tenants relationship management system tenant what did I just a way to educate tenants, not only on what you do there, but their options as well, whether it's buying and selling or, you know, I think that's, that's important. Cause if it does come back to, Hey, we're not only doing this, we also do this and we can help with all aspects of the home process.

David Thomas (20:23):

Exactly. Yeah. That's what we want to do better on. Okay.

Nathan Daniel (20:25):

Okay. So then definitely having a system like that in place is going to be important when I'm looking at starting something like this. It's just that extra layer that, you know, looking back if, if that were in place now, like it, it might look a little different. It might be instead of for a year, it could be eight to 10.

David Thomas (20:43):

Oh, absolutely. Oh yeah.

Nathan Daniel (20:45):

Okay. All right. So, you know, we, we've talked about the initial setup, understanding the laws, the rules, those kinds of things, setting up a business structure, whether it's LLC, S-corp those things. We talked about technology and systems and resources that we need to be aware of. We've talked about the opportunity with tenants to convert them to buyers on the front end and on the back end. So I want to talk now about everybody's concern, thoughts. I have a hundred properties that I'm managing. I don't want to get that. Oh my gosh. The toilet's overflowing it 10, eight or 10:00 PM. Midnight water heater, bus let's talk maintenance. Like let's get it.

David Thomas (21:29):

Let's see. I think we've had over 20 air conditioners go out so far this summer.

Nathan Daniel (21:33):

Oh, it's a good summer for that too. And yes,

David Thomas (21:36):

It's, it's wonderful. So I do encourage my homeowners to have home warranties home warranties are a double-edged sword. There are some companies that are good. Some companies are not good. And we do make those recommendations to our homeowners on the whole. They will say people money, especially with HVAC repairs. But they're a pain to deal with. It takes days to get one of their contractors out there. So I do encourage that it will save them money. The biggest issue for property managers is we don't have we don't have contractors on staff. But I do have a regular, I have probably two really good general contractors, whether handyman North Carolina, you don't need a general contractors license for that small jobs. But they do about 80% of our stuff. I have a very good HVAC guy. If you need to have those kinds of service providers that are reliable, that can do work for you on the weekends or in the evenings.

David Thomas (22:48):

Those are essential because you will be getting those calls. Now we are small enough that I can still be hands-on and I will go out and look at people's properties. That is one of the selling points I make to my hub homeowners that we I will go out and look at stuff for them. I will go up and crawl in addicts. I would've been down in the crawl spaces. Now some of the other stuff we do, I have extra window unit air conditioners. I will deliver when it's going to take three or four days to get air conditioning. In fact, I got to go pick up a refrigerator out of somebody's garage that I dropped off when the refrigerator would broke. I got to do that later today. So having those kinds of that kind of equipment that you can kind of placate the tenant until you can get the repairs done is important. It goes a lot towards eliminating complaints, making people happy and, and really it's just the right thing to do to try to, you know, get the house back where it should be.

Nathan Daniel (23:52):

And especially,

Nathan Daniel (23:55):

Kids involved and especially the elderly. Like you've got to, you've got to make those, those, all the effort really. And so you were talking about like the, the equipment and I, I just kinda triggered me. I'm like, well, it would actually make sense. And it reminded me of somebody. I knew a while ago that like he would be going to Oh, we'll just call it the big box stores, home Depot, Lowe's that kind of stuff. And he'd be doing something like on the weekend, he'd always go down the aisle where there's like the dent and ding stuff. And if there was a toilet sitting there or something, and it was a really good price, he would actually buy that, take it to his storage and put it in there. And it might sit there for a year or two years, but he knows in his mind, like I've got enough properties. I will eventually use this. Yeah.

David Thomas (24:39):

That's a very smart thing to do. Very smart by and bolt garage door openers disappear all the time. And they aren't cheap. They're like $35 for a universal remote. So I buy those in bulk on Amazon. I'm like smoke detectors, carbon monoxide detectors in bulk all that kind of stuff.

Nathan Daniel (24:59):

So creating an inventory of the things that could go wrong. Right. The big, the big,

David Thomas (25:07):

Absolutely

Nathan Daniel (25:08):

Sure. Openers all that stuff. I know he also did hot water heaters too. Like there was a warehouse of stuff going out where he bought, I think like 10 of them and he just put them in his storage. He's like, they're going to go out eventually.

David Thomas (25:22):

Good idea if you've got that opportunity. Yeah. And

Nathan Daniel (25:24):

It was, it wasn't one of the big box stores. It was a small appliance shop and he's like, boom, let's do it. So that was a, that was cool. So I like having the inventory of the necessity, things that, that you can put in place, but I want to go back to the the, the contractor piece of it, the, the handyman and everything else, like having that many properties. And obviously I think of course like the, the margins inside the property management, while they're not big on a single property, they can grow with, obviously if you're at 200, 300 properties, there's margins there that could justify I'm going to hire one person on staff to be the handyman. Right.

David Thomas (26:04):

Right. And that's actually I think once you get, yeah, like you said, about 200 that's probably a good idea that you're going to have a constant stream of work orders where you would keep them busy every day. Or if you're managing a multifamily property it would be wise to have somebody that's available onsite. Do something like that.

Nathan Daniel (26:30):

We're not at that point, obviously we're just starting,

Nathan Daniel (26:34):

How many, In your opinion, how many handyman contractors do you need to have in your Rolodex that you call on? Because I don't know about your experience. My experience is there when they're really good. And then you share that with somebody.

David Thomas (26:51):

Yeah. That's the problem we're having right now because we, we are selling so many houses. My agents have my standard handyman, they're doing renovations and painting and doing carpet and fixing up all these houses to sell. Uso if you have, I would say at least two to three backups,ufor your, you need electrician, you need a plumber, you need,uHVAC, you need general handyman,uat least two, if not three

Nathan Daniel (27:23):

On top of it. Yeah. Got it. Okay. So on average how many calls do you get after? Let's just say 10 o'clock at night. If you have a hundred properties

David Thomas (27:40):

At this point, I probably two or three times a week. Okay. Yeah. Not too bad. Not too. Not too. Yeah. Okay.

Nathan Daniel (27:50):

Well, that's not bad. And that's manageable, especially if you have a couple of assistants that, you know, I, in my world, what I would do is I would probably set up a rotation amongst the three of us. And if something major goes wrong that, Hey, call me, I'll be there.

David Thomas (28:02):

And I my hourly W2 staff I try to take very good care of them. And they are very willing to take these after hours calls and text messages. We have a group text that if I get something where I forward it up to them, and I know it's going to get taken care of. So take care of your employees. This is not a nine to five job.

Nathan Daniel (28:24):

Well, I think it's important setting that expectation up front with them as well, because it's, it's not, it's not like you're going to be sitting in front of a leasing office at an apartment complex where it is that type of job. Well, the maintenance on staff or on staff or on site, guess what they work after hours, even if they're on site. So, okay. Well, that's, well, that's been very very informative because I know the big challenge, the big thought around this whole thing is what is my time that I'm going to have to commit to doing this? And if it sounds like there's systems in place, if there's people in place to help me, then this is something that can be totally a great ancillary business to add to any brokerage. And of course, like it's going to be some good, sustainable, profit income that can come in. You know, that's going to help pay the bills. That's going to help pay for additional services or additional value. If you are growing the residential side, there's a lot of back and forth that I see with the property management side of it, The business,

David Thomas (29:35):

Yeah. The property manager side is, has definitely helped us with our, our fixed costs. It has allowed me give provide my agents with a very competitive compensation plan which keeps them happy and producing. So it really is, but it's also a scalable business until you, if you think you're going to manage five, 10, 15 houses, you are going to spend a lot of time and not make a lot of money. So if you want to do it, you need to jump in with both feet and try to build that portfolio of properties as quickly as you can. So you're going to make a little bit of money on it. And I've got my properties, a spread across three counties,

Nathan Daniel (30:18):

Talked about that, you know, the distance between these properties.

David Thomas (30:24):

Yeah, it's 30 to 45 minutes typically.

Nathan Daniel (30:29):

One way or one way?

Nathan Daniel (30:33):

I was in Dallas and I had a property that, so I lived on one side of Dallas and it was on the other side of Dallas. However, you know, of course issues would come up and there'll be certain times a day. And I'm like, okay. Or somebody wanted to see it as a tenant. And I would yeah, I'd hop in the car and drive across Dallas. And it might take me an hour, an hour and a half to get there because of traffic. And next thing, you know, I'm getting there and of course the tenant doesn't show up or, or something else. So this led me to something else. And I'm curious, like, how are you utilizing technology today? Because this is what I did. Like, I, I got burned a couple of times on doing that. And I was like, I'm done. Like, I've got to figure out a way. And this is back in 2000. Wow. This was about 2009. Well, it's been about 2010 and I'm like, cell phones have cameras. I've got a digital camera. Like those, one of those old school flip cams, they were amazing. So I was like, I'm recording this it's empty is perfect. It's pristine because we have to do like, before walkthroughs, after walkthroughs, all that stuff, I'm like market Nathan, let's do this. Let's go in, let's record a walk through of this home. So I'm not having to drive an hour and a half for the property. So I'm like, anytime, I'm like, if you're interested, here's the inside, go watch this video. As soon as you're done, let me know. And we could submit an application that way, or I can schedule a time with you. That's not during business, like heavy traffic time. So how are you? Like, that was my experience in my office. How are you doing marketing?

David Thomas (32:05):

That's why I have my other agents. We have a group chat for the agents and it's like, Hey, I have somebody who's interested in looking at a house who can show it. Okay. My agents are scattered all across our area that we service. So someone's usually close and most of them are happy to take it. So because they got that possibility of a lead, that's worked out really well. Within our, our property management software, we do have a website. We put a lot of photos on there on the applications online and set that before. So that's that part's worked out really well. And like I mentioned, I try to prescreen people on the phone. I'll ask them and I'll tell them what our criteria is. Do you have pets? You know, do you have any judgements collections? What's your credit score?

David Thomas (32:52):

And if they say, I don't know, I don't want my credit score is I say, well, you should probably check. Cause most of the property managers are going to use that. Give it a, go, give it a look and call me back. I'll be happy to schedule an appointment. That saves a lot of time saves a lot of time and wasted trips.

Nathan Daniel (33:10):

Well okay. So final question, going back, looking at your history inside of inside of the property management, inside a real estate, is there anything that you would do differently than today if you were starting over?

David Thomas (33:25):

I would probably hire an assistant earlier. Yeah.

David Thomas (33:31):

Five years. I didn't have one. I did it all myself. And I probably should have got one about two years in. Okay. All right.

Nathan Daniel (33:39):

So how, how would, how did you know at that five-year Mark where you're like, I need to have an assistant?

David Thomas (33:44):

Um I think I was up to probably 50, 60 properties at that point. And it was just running me ragged. It was every day, it was every day I was going someplace, looking at something and then going home and doing the paperwork. And I definitely needed help, you know, either I'm gonna stay in the office and do paperwork or I'm going to go out and drive around and deal with the tenants and deal with the houses and that kind of stuff. So having that staff to handle most of the paperwork, coordinate the work orders has helped immensely with my time and time management for me.

Nathan Daniel (34:21):

Okay, cool. Well, everybody we've been talking to David Thomas with the Thomas real estate services group from Fayetteville, North Carolina David, I really appreciate you being on the show. And then if somebody wants to look in, if they're in the North Carolina area looking for a property manager what's the website, or how can they get in touch with you? And I'll make sure I'm going to put this in the show notes as well, but what's your website.

David Thomas (34:44):

Um easiest way to get a hold of us was through our Facebook page. Just look for Thomas real estate services.

Nathan Daniel (34:49):

Awesome. Well, I'll make sure that's in the show notes so everybody can find that again, David, I really appreciate your time. I know that there are several brokers out there looking for ancillary services, and I think property management is just a natural progression to what we already do. That's going to add additional value to the company. So again, thank you for being on the show.