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Posted on: August 26, 2019

Are you doing wholesaling with a partner but have yet to find your first deal? Then today’s episode is for you! If anything, the incredible wholesaling journey of today’s stepfather and son team might just inspire you to find that first ever deal!

John Maine and Michael Ambort is an inspiring stepfather and son team who closed their first wholesaling deal even if they’ve only been wholesaling for a few short months. While they aren’t wholesaling experts yet, they have something that kept them going—they use the ready, fire, and aim approach. In other words, they didn’t think twice about taking massive, imperfect actions.

And their courage has not only made them $18, 000 richer, it has even allowed them to help others and bring in more deals to their pipeline. If you’re ready to be moved, motivated, and inspired, today’s episode is exactly what you need to hear!

Key Takeaways

  • List they targeted
  • How they gauged they were talking to a motivated seller
  • How Michael handled the eviction in behalf of the seller
  • What “cash for keys” is all about
  • Amount they bought and sold the contract for
  • Game-changing books they recommend
  • What they will do differently/the same if they have to start all over again


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Episode Transcription

Cody Hofhine: You’re listening to another episode here on Wholesaling, Inc. My name is Cody Hofhine and I’ll be hosting today’s podcast episode and I’m super excited to be back with you guys, Rhino Nation. And we’re grateful to each of you that are listening to this podcast and also downloading, subscribing to the podcast. You guys are rock stars. You motivate us and inspire us to continue to deliver massive value as well as massive imperfect action.
Now today we have on our show some rock star Rhinos that just recently joined the tribe but already starting to create deals and just charging forward in Southern Maryland. We have John Made and Michael Amboart with us and they just did their first deal. Now for those of you listening to the podcast, I want you to take out a piece of paper, take out a pen, and get ready to jot down some gold nuggets cause we’re going to share with you step by step how they just did their deal. And it was a great deal that had a great payday. And we’re going to get into this here in just a second.
So get ready, take action when you hear this and get out there and go get closer to your deals. So let’s bring on Mr. John Made and Michael Amboart. How the heck are the two of you doing?

Michael Amboart: Good. Good. Excited to be here.

John Made: We are. We’re doing fantastic Cody, thanks for having us on.

Cody Hofhine: So you guys are rock stars. So you guys are business partners. Let’s get this out there. How did you guys meet each other and what got you into doing business together?

John Made: Well Michael is my adopted son. My wife and I are in the process of adopting him though we been a long time friends and family members. We considered Michael family for a long, long time. And my full time job is I own an IT company in the Washington D.C. area and Michael and I were just having a conversation one time and he wanted to know how to go to the next step even though he’s a very successful young man in his own trade. How to do some things, acquire some wealth and build a different environment for his family. So we got to talk about flipping houses and Michael introduced me to wholesaling and I’ll let him tell you the other half.

Cody Hofhine: Let’s hear it. Let’s hear it. This is awesome. Go for it Michael.

Michael Amboart: He is already a very successful business owner and I had a buddy come to me that wanted to start up a HVAC company, cause I’m actually a union steamfitter. So I was like, let me talk to my old man, I trust his judgment on everything. So I called him, “Hey, can we have dinner?” And he was like, “Yeah, come on over tonight.”
I go over to his house and he’s like, “What’s up?” And I was like, “Look, I want to start a company. I don’t know how to do it. I just know that I want to do something for myself.” And he’s like, “I think you can do it.” I’m like, “I’m going to start this union company.”
As I’m walking out the door, he’s like, “Mike, I’ve been meaning to ask you, do you want to try to flip a house together?” And I was like, “Oh my goodness, I’ve always wanted to do that.” So then he threw a curve ball, you know, I had my mind all made up and I said, “Well, let me sit on it. Let me go home.”
I start researching and somehow I get across Wholesaling, Inc. and download the podcast. I mean, one episode, two episodes. By the time I knew it, I was probably 10, 12 episodes in and I called up the next day, “We got to do wholesaling. Forget the flipping right now, we got to do wholesaling. Just download this podcast and call me later. And then we signed up and here we are.

Cody Hofhine: Oh my goodness. That’s awesome. So from the first time that you listened to it to actually joining the tribe, what was the time frame on that?

Michael Amboart: Oh my goodness. A week. Not even.

John Made: Yeah, it was very quick. Yeah. We, he introduced me to the podcast, we started listening and for the next two weeks that’s all we did. We both have long drives to work and it was just constant.

Cody Hofhine: You complete rock stars. So here’s the thing, I just did a post on this on my Instagram channel and I was just talking about how powerful it is to go out there and take the ready, fire, aim approach versus the normal ready, aim, fire approach. And you guys did that massive imperfect action. You took the ready fire, aim. But here we are in just a short time. You’ve already done your first deal, which has been pretty dang powerful to see, to hear. And now our audience gets to hear step by step exactly how you guys did this. So who wants to start off by talking about what marketing channel you went through, what lists you were you were marketing to.

John Made: I’m not going to let Michael go because I just want to say that Michael, we’re a partnership, but Michael has really taken the bull by the horns and while we consult a lot and we visit and we do a lot of driving together, this deal was really brokered by Michael and through his hard work and real determination. He really pulled out a great deal and I want him to tell everybody about it.

Cody Hofhine: Can I hold you guys off for one second? Cause I’m sitting here listening to this and I keep getting the chills nonstop and I just sit here and I have to tell you guys, this partnership, family bond, love that I even feel on this podcast is absolutely incredible.
In fact, John, that you just sat there and said what you just said, just shows that we may be business partners but he’s out there doing the hard work. I have to commend the two of you, cause this is two humble individuals that are very teachable and you are already a very successful businessman and here you are still being coachable and teachable by life and wanting to learn. So John, I commend you what you just said. I thought that was absolutely powerful and I just got chills listening to you as you said what you just said. So Michael, my man, it sounds like the show is yours for a second. Let’s hear, what you did. Let’s break it down and help our audience understand how they can get massive value from the deal that you just did. What was the marketing channel and what was the list that you’re mailing to, or I should say, that you’re marketing to?

Michael Amboart: All right, first off, appreciate that Dad. We’re from Southern Maryland and we attack the St. Mary’s County area, at first. It’s a rural, small, very country rural area. So we decided to go with the unoccupied high equity list and when we pulled it up through ListSource, it was only about 600 pieces. So we did direct mail, sent it out. Maybe about a week and a half, we probably got a 3% return, about 18 calls or so. A gentleman called saying, “I want to sell my home. I want 50k for it.” We started talking, started build a rapport with him, trying to figure out what the real motivation, as to why he wanted to sell. I mean instantly you can hear it on the phone. We got a motivated seller instantly.

Cody Hofhine: What led you to know instantly out of gate, what were some of the things he was saying that would help our audience that might be new to this, thinking, “Gosh, what does motivation sound like?” So if I ever come across a phone call, I can kind of start to hear this.

Michael Amboart: Well when I was talking with him, he was like, “Look, it’s a terrible area. I want out.” He told it as is. I mean, there was no trying to pull in, trying to maneuver around him to get him to reveal his motivation. He was just like, “Look, I need out of it. I’m losing money on it. I have a terrible renter in it. He’s destroyed the property. I just don’t care anymore. I’ll take 50 K for it.” [crosstalk 00:09:26]

Cody Hofhine: He’s already telling prices, even on the phone [crosstalk 00:09:30]. “It’s in bad shape. I want out of it. I don’t want this.” He’s telling you a price. He’s saying everything that makes you know that this guy really does want out of it.
What I think is powerful about this, Michael, is the fact that it goes right in line with, we’re not deal creators, we’re deal finders, and you could see right out of the gates that this was a great potential to be a great deal.
So keep going. Was that already, when you heard that like 50 grand, were you already thinking, “Yeah, that sounds like a great deal.” Or was that already or was that still questionable?

Michael Amboart: It was questionable just because, I didn’t know what the property looked like. I was vaguely familiar with the area, so, I was like, “All right, let me call you back. I pull it up online, I look at the area, look at the comp and instantly I’m like, this is a good deal. So like you guys teach, my stomach just is not uncomfortable with it. So I called him, following up with them and doing rapport.
I got them down to 35k. That made me feel a little uneasy. He was like, I’ll do 35k. I was like, “Oh my goodness. OK, now we’re talking.” He was like, “But look, he’s going to pay rent in two days. Let me call you back.”
So I’m at work and he calls me, he goes, “I’m done.” He said, “Find the paper, send it over to me right now, I’ll sign it.” So I’m like, “OK, what’s the problem?”
“He didn’t pay. I can’t keep doing this with him. I’m just done with the property. Can you handle the eviction?” And you know, I’m like, “I’ve never [crosstalk 00:11:11] done an eviction before… [crosstalk 00:00:11:13].

Cody Hofhine: I love this. Micheal, this is awesome. The story gets so much better. I’m just sitting there thinking, “Oh, it can’t get any better, he’s already shared a great story. Oh my goodness, it’s getting so much better. It’s still going. This is cool.”
So he is not only frustrated, now he’s like putting you in a situation where you’re like, “Gosh dang it, I don’t even know what eviction and how to handle eviction,” but I love that you’re still moving forward. So keep going.

Michael Amboart: He’s like, “Handle the eviction for me and I’m all there. Look, when you handle the eviction, do it in a way where he’s not getting evicted. I don’t want them to destroy the property anymore.”
I’m like, “How the heck do you think I’m going to do that?” I get on Google and I’m like, how to handle eviction? I had heard something in a podcast a couple of times, Cash For Keys. So I’m like, “Give me his number.”
I call the gentleman. “I’m a local investor. I’m interested in purchasing that home.
He’s like, “Well I don’t own the home.” And I was like, “I don’t want to kick anyone out of their home. I would hate to do that. So I wanted to call you and then call him. Would you consider getting cash to evict?”
He was like, “I would love some cash and I’ll leave tomorrow.” I was like, “Oh my goodness [crosstalk 00:12:26], everybody wants to leave this place.” [crosstalk 00:12:28]

Cody Hofhine: Hold on, let’s hold on right there. Cause there’s some value I need to share that everyone should be writing down if you haven’t already. The fact that Michael’s out here taking massive, not action, just massive imperfect action. There was so much that Michael didn’t know getting into this deal that he just learned as it came up. Had Michael been thinking beforehand, “Oh, but what if this happens, and what if this happens, and what if this happens?” What happens when you start getting your mindset in that “what if” scenario, you start to take less action. In fact, a lot of people take no action because now they’re stuck on YouTube university or Google or podcast and they’re just trying to find every scenario possible so they can, they can already have a perfect plan in case this pops up or in case this pops up.
Michael didn’t do that. He just went out there and he found out that, “Okay, now he’s talking about eviction. I don’t know eviction.” So at that point, that’s when he got on Google, he found Cash For Keys and he calls them up and says, “Hey, I’ll give you cash. Get out of there.” And the guy says, “Perfect, I’ll get out of there tomorrow.” And he’s learning this on the spot and not trying to have this perfect plan right out of the gates. So I have to tell you guys, if you haven’t written it down, massive imperfect action, and this is the perfect example of exactly that saying, so keep going Michael.

Michael Amboart: [inaudible 00:13:50] Google. “I need to find a contract, to make this look legit.” So I find a contract I printed out, I send it over to my DocuSign. I do everything through DocuSign, send it over to him through email, he signs it, sends it back and I’m like, “I’ll give you the cash the day of.” And he was like, “Perfect.”
I called the seller back and I’m like, “Hey, I got it all taken care of. We can proceed. With the eviction, I feel more comfortable with $20,000. He’s like, “I’ll do $20,000.”
So I get it under contract for $20,000, from originally 50 [crosstalk 00:14:26].

Cody Hofhine: Holy smokes. So you’re also just doing a great job on making sure it really is a deal and you’re going to be taken care of other situations that you’re going to have to take on versus someone else. So keep going.

Michael Amboart: So one big thing I did not mention through all of this crazy dizziness, I am actually at the hospital when I get it under contract. My third son is actually being born. So I’m in the hospital, typing up this contract, sending it out and then I’m working up on my MailChimp to blast it out to my buyers. I’m getting all these emails and phone calls and then next thing you know, the epidural finally kicks in and the baby’s coming, the laptop gets closed. I push it to the side [crosstalk 00:15:11]. We have the baby June 10th and then I’d get back on it after they take the baby and I’m like, “Inspection is Friday.” The baby was born on a Monday.

Cody Hofhine: Uh huh.

Michael Amboart: We have the inspection. I’m driving on a Friday. It was from 10:00 AM to 11:00 AM. I figured I’d do it early just because of the type of neighborhood it is.

Cody Hofhine: Uh huh.

Michael Amboart: I didn’t want, look, I’m going to do it early.

Cody Hofhine: [crosstalk 00:15:36] It’s a war zone. I’m not going in there in the dark. [crosstalk 00:15:40] Perfect.

Michael Amboart: So I set it up for a morning at 10 to 11. I’m driving there and I’m so nervous I can’t even drive and I’m speeding. I’m doing 65 in a 45, I think is what it was. And I get pulled over [crosstalk 00:15:55] [inaudible 00:15:57].
And so instantly, you know how everybody is, I start praying. I’m like, “Please God. If this is the real deal and this is really going to happen, please don’t give me a ticket.” The guy comes up, I let him know. I tell him about my situation. He’s like, “I’m not giving you a ticket. Good luck buddy.” And he sends me on my way. I’m like, “Oh my goodness.” [crosstalk 00:16:16] I’m like, this is happening. [crosstalk 00:16:21].

Cody Hofhine: This is so great. I love everything about the story, by the way. This is so great. I don’t even need to add anything. Keep going.

Michael Amboart: So I get there, it’s about 10:20, no buyer. And so I’m thinking to myself, I’m about to pray again. So I start praying, “Please let something happen.” And mind you, but the tenant still lives in the property. We gave him till July 1st, so we have it under contract June 10th. We gave the tenant till the first to move out.
So he leaves his son there. I feel bad. I bring snacks, I bring my iPad so we have games to play and I let him sit in my car. I’m like, “Look man, it’s weird. You don’t want all these strangers in and out of your house and in your bedroom.”
The young kids like, “Yeah man, that’s cool. Great.” So he sits in my car the whole time I’m there and I’m like, “Where is everybody at?” 10:30 rolls around, it was like a feeding frenzy. Four came in at the same time. Two came in. I mean, at one point there was almost nine investors in this tiny townhouse and I was like, “Yes, I created the feeding frenzy.” [crosstalk 00:17:25]
They’re all talking. That following Saturday at 5:00 PM is when I set up best and final offer and I’m getting offers all over the place. I’m getting offers from people that didn’t even come out to see the property and it got ate up. Am I allowed to say the price at this point?

Cody Hofhine: Yeah. So you put under contract at 20 right?

Michael Amboart: Yes.

Cody Hofhine: K. Yes. Now keep going. So we put contract 20 and now you’ve got all this, the investor’s hungry over this. Let’s hear it.

Michael Amboart: I listed it for 40,000 and I was like, “I think it’s worth 40,000. It ARVs at like 120 so I’m like, “This is a good deal.”
I send it out. It’s a really good buy and hold. I send it out, it gets ate up all the way up to 42,000 and so I sit there and I think to myself, “Man, 42k, that’s the best offer, I should take it.” But I had just finished reading this book called The Go-Giver, and I’m a Christian as well, so The Go-Giver and the book that you guys recommended, opened my mindset in a different view.
This investor he offered me what I wanted, 40 grand, but a young gentleman, actually brought the buyer, he wants to get into real estate and he’s just trying to make a name for himself. So he’s like, “Hey, I have a buyer that’s interested.” I said, “If he wins, I’ll give you like a bird dogger’s fee,” is what I’ve heard the name, called them [crosstalk 00:18:54].

Cody Hofhine: Yep. Yep.

Michael Amboart: It says, I’ll give you a bird dogger’s fee. Which I had no idea even what the fee was, but I just wanted to help the kid out. I decided, like I said, I read that book, I decided to go with the 40,000. A, he holds one of our local REIA meetings. So I looked at it as a business opportunity to build good relations.

Cody Hofhine: Yeah.

Michael Amboart: And two, I was able to put some money in this young man’s pocket. He had some issues with family in the hospital. I just wanted to help him out some way. He was getting ready to quit, he’d been doing it for months and I was like, maybe this will help him and see that this is real, that there’s enough money for everyone to see it now. I called the old man, I was like, “Look, I’m going to go with the second best offer. I’d rather do that and be a go-giver. And he was like, “I think it’s a great idea.” And that’s what we did.

Cody Hofhine: That’s phenomenal. So what did the end up being? You sold it for 40 and then was the fees, you gave him some money?

Michael Amboart: The fee, it was a 20,000 assignment.

Cody Hofhine: Uh huh.

Michael Amboart: A thousand I’m adding into it for the Cash For Keys and then the $500 water bill and then the $500 bird dogger fee. So it came out to about 18,000.

Cody Hofhine: Oh my goodness. You know what’s about to happen for both [crosstalk 00:20:10] and Michael?

John Made: Let’s hear it!

Cody Hofhine: Get ready cause this is an incredible story and it’s worthy of what’s taking place right now. So hold on. [crosstalk 00:20:27].
What’s even better is your doing the exact Tom Krol that’s on the intro to the podcast. [crosstalk 00:20:38] You guys, I’m sitting here smiling from ear to ear. Just listening to the story and just love your guys’ partnership. I think it’s absolutely amazing. You guys are going to do way more than just one deal.

John Made: Oh there’s no doubt about that.

Cody Hofhine: I love the fact that you gave back [crosstalk 00:20:58], you help people and you made it right and you have adopted not just read, but you’re adopting the principles that you learned from great people like Bob Burg from The Go-Giver. That’s, that’s absolutely awesome. Gentlemen, what would you add to this, John? Because this story is pretty dang good, my friend. What would you add to it?

John Made: It really is a fantastic story and Michael, I just loved his enthusiasm and truly while he was filling out this deal, I was actually on vacation in Nashville with my wife and then I had a family emergency. So he really did this on his own. I think the other thing is that he did a lot of research, took the initiative to do that and use the wholesaling forums and other key players that he’s met through networking. Just the initiative that he’s taken as somebody who’s been in business a long time, I just see a lot of real key indicators there that show me that Michael will continue to be successful throughout his life.

Cody Hofhine: That is phenomenal. Gentlemen, this has been amazing. And I will tell you there’s two questions and I’d love to have both of you actually answer this. So each of you get a shot on both these questions, cause I’d love to hear this. I love double the value here. We always end our podcast two ways with the two questions. The first one is a good book that you guys are reading right now that are game changing and each of you can answer that differently.

Michael Amboart: I’ll go first. So I’m probably going to steal his, I’ve read a lot of the books you guys recommend, so I’m going to just go with the plain jane Rich Dad, Poor Dad, only because for me personally, I relate to that book a lot. Like he said he’s my adopted dad, but he in my eyes is my father. I grew up without a dad, my mom had, boyfriends or whatever and I’ve had many guys try to be my dad and it’s always the same spiel. Go to school, go to college, get a good job. So, you know, within the first couple of minutes of Rich Dad, Poor Dad, I’m like, “Man, I relate to this book so much.” [crosstalk 00:23:16] With the man that I would call my father now, I’m like, he’s my rich dad in the sense of what he teaches me. He’s opened my mind up to entrepreneurship and moving forward and being the best me I can be. He’s my biggest motivation. I don’t want to call him my cheerleader, but he’s my biggest motivation.

Cody Hofhine: That is so awesome. That is a book that I’d say six out of 10 people say is Rich dad, Poor Dad. In fact, we had the opportunity to interview just recently, Robert Kiyosaki and deep dive some of the stuff in that book and awesome, awesome, awesome book. Great book [crosstalk 00:23:51]. What an awesome tribute to you, John. That’s awesome.

John Made: Yeah, it is. I’m still reading the book as well. It was given to me by Michael as a gift. He put an inscription in there and also gave me a card. So it means a lot to me. And as I hope every one knows, I’m in my second marriage, we have a blended family with now seven children, including Michael. We try to promote the fact that, you don’t have to be blood to be family.
Michael has blessed us with children and grandchildren. That book means a lot to me and him providing it to me and believing in me. And the inscription means a lot. But there’s a lot to be learned in there. And even as somebody, I’m turning 61 this year, and have been through a couple of different businesses and worked in the IT industry for nearly 40 years, there’s lessons to be learned in there. So for those of you who have not read that book, please go out and get it today because it, it has a lot of great insights and certainly some things I wish I had done earlier in my career.

Cody Hofhine: Awesome. Awesome. Awesome. Well let’s go for question two and I’m excited to hear this from each of you. And that’s, looking back, even though it’s just a short time ago, and you guys acted so quick, but I’m going to put you on the spotsdale. Looking back, hindsight, is there anything you would’ve done differently or is there something that, or maybe if it’s like, “Oh no, we loved what we’ve done,” or maybe let’s twist the question. Is there something you would’ve done differently starting over again or is there something that you would have made sure you did the same, starting over again?

Michael Amboart: Yes. So when I had my son, I stopped for about six weeks and that six weeks really hurt us. It definitely set us back and now we’re getting back into our groove and, we got, the pipeline is so full, it’s hard to keep up with the phone calls. We’re looking at a potential flip, a potential buy and hold for ourself, we got two under contract right now that are worth about $8,000 signing each.

Speaker 1: Wow.

Michael Amboart: Yeah, we definitely have the pipeline. So if we didn’t stop for that month and a half, I can only imagine where we would be at right now. Sky’s the limit, really. We’re just attacking one small market and we live in a tri-county area so I can’t wait to hit the larger markets.

Cody Hofhine: That’s huge knowledge though, to give out. Cause a lot of people don’t realize the power of consistency. It’s those little moments of break or stopping the action that’s necessary to be done that can really throw off a whole business. So the fact that you’re saying, “Man, of all things,” and it came pretty quick. So I love the fact that it came quick enough for you to realize, “Yeah, I know what it was. It was, I took six weeks off and that that kind of hurt our business and the flow of deals. And had I not done this, we had had more consistent and probably done more deals.”
So this is this a huge opportunity for each one of you listening Rhino Nation, to jot it down so that you don’t have to live that, you can already learn from their mistake so that you don’t have to live that. So that is a powerful, powerful, powerful give right there. Thank you, Michael. John, what about you, my man?

John Made: Yeah, so Cody, I think something that I would really have done from the beginning was, I didn’t see the value, and Michael taught me the value of networking and going to these REIA meetings and really pushing the envelope and adding some apps to keep us on the go and aware of those. He has met some people that have turned us on to some new deals. And I think more importantly, you learn from these people, obviously. And in this area it’s like any real estate agent or in my business, doing business development work, you really truly have to network. So I didn’t see the value in that as first, but Michael certainly has taught me that. And so we are using an application to keep us aware and using Meetup and other tools. So we’re tuned into these meetings and we want to continue to network more. And like he said, he has two assignments that are done through a JV and that’s all done through, being aware of other people and networking. So don’t underestimate that at all.

Cody Hofhine: Powerful. In fact, one of my favorite quotes with that, John, is the fact that your network is your net worth. Who are you communicating with? Who’re you consistently get uncomfortable to talk to each and every day because you’ve got to be willing to put yourself out in uncomfortable situations, uncomfortable places, so that you can start to see the different opportunities that can present themselves to you. And so kudos to both you [crosstalk 00:28:34] for doing that.

Michael Amboart: Thank you [crosstalk 00:28:36]

Cody Hofhine: Well, you gentlemen are rock stars. You just delivered so much value to Reno Nation. I want to thank you both for taking time to get on our podcast. And if Tom were here, he’d be saying the exact same words. Thank you guys from the bottom of hearts. Cause this will add extreme value to those that are listening and it’s going to resonate with a lot of people out there that are thinking, “Is it still okay to get into wholesaling? Is it still real? Is it still something I can do?” And your story right here today, will let them know that yes, they can do this, this is something they can still do, they can be a part of and get out there and get deals. So thank you two for being on the show today.

Michael Amboart: [crosstalk 00:29:14] Thanks for having us.

John Made: Thank you for having us, Cody and we definitely appreciate all the insight and all the help. We’re very grateful.

Cody Hofhine: You guys are rock stars and you’re very, very welcome. Rhino Nation. What an amazing podcast. I hope that you had a paper and a pen jotted down all the gold nuggets that were shared right here on this episode. Get back there, download this episode, re-listen to it, cause there is so much value given here. These are two individuals that just a short time ago had no idea what even wholesaling was and now they’ve done one deal that’s already closed and they have a couple of deals in the pipeline ready to close and this will be just three of many deals down the road.
You guys can do this. If you need help doing it, you can go over to, that’s wholesaling i-n-c dot com, where you can book a call with our team and we’d be glad to see if we can be a fit and help you in your journey of becoming a wholesaler and doing your first deal, as well.
Thank you guys. Take care and we’ll see you on the next episode.

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