After 25 years and over 450 Million developed, we are thrilled to have Shannon Robnett, the founder of Shannon Robnett Industries (SRI), as our special guest.
Shannon has over 25 years of hands-on development and construction experience, and he's dedicated to delivering numerous passive income streams to his syndicate partners. At SRI, Shannon and his team have created a second-to-none investor experience rooted in a core set of values that enhance financial stability.
In this episode, Shannon shares his investment journey and how he built a company that generates higher return rates consistently and in less time than other property investment groups.
So, sit back, relax, and get ready to learn from one of the industry's most dedicated and knowledgeable developers.
Shannon’s Profile
linkedin.com/in/shannonrobnett
Websites
Live free. Get Educated. Master Your Money.
Subscribe to our Podcast here!
https://investingstuffyoushouldknow.buzzsprout.com
Youtube Videos now up as well! Subscribe here:
https://www.youtube.com/channel/UC1kV60Yxx4ntgLqAwOCR1Pg
After 25 years and over 450 Million developed, we are thrilled to have Shannon Robnett, the founder of Shannon Robnett Industries (SRI), as our special guest.
Shannon has over 25 years of hands-on development and construction experience, and he's dedicated to delivering numerous passive income streams to his syndicate partners. At SRI, Shannon and his team have created a second-to-none investor experience rooted in a core set of values that enhance financial stability.
In this episode, Shannon shares his investment journey and how he built a company that generates higher return rates consistently and in less time than other property investment groups.
So, sit back, relax, and get ready to learn from one of the industry's most dedicated and knowledgeable developers.
Shannon’s Profile
linkedin.com/in/shannonrobnett
Websites
Live free. Get Educated. Master Your Money.
Subscribe to our Podcast here!
https://investingstuffyoushouldknow.buzzsprout.com
Youtube Videos now up as well! Subscribe here:
https://www.youtube.com/channel/UC1kV60Yxx4ntgLqAwOCR1Pg
Hey everyone here on at the Investing Definitional Podcast. We have a great guest today with us, Shannon Rob net. This guy is a dominant force in the development space and something we've probably been a little bit light on in the show is on the development side. Something that I've been more interested in. A lot of investors are looking at this space interested, that's the highest taking a piece of. From, basically nothing to putting some vertical construction on there can be the highest return on investment. So Shannon, thanks you for being with us and for sharing your knowledge or about to share your knowledge and all the things you've learned.
Shannon Robnett:Johnny, I appreciate you having me on the show.
Johnny Nelson:Awesome, man. Awesome. Give us I, you and I, were doing a little pre-chat here. You're predominantly you do a lot of work in Boise. Are there other markets? Just kinda share, share with us a little bit what your focus is and where you come from and what you're doing.
Shannon Robnett:Currently we've got projects going in Washington Boise, Idaho the Treasure Valley here, so all over Idaho as well as Texas and moving down into Houston. So we've got some stuff under contract down there right now.
Johnny Nelson:Awesome, man. Is that the existing product or is that also on the new development side?
Shannon Robnett:We like to do both and it's really easy to put a foothold somewhere, get some existing product. We also do a lot in the industrial. So you get some industrial, you get some multi-family, you balance your portfolio you do some value add, you do some development that way. You're just you're really maximizing your footprint when you go into a market.
Johnny Nelson:I love that. I love that. And then also you're not quite maybe it's easier, like you said, to get a toehold or a foothold in a new market by, beginning the strategic moves and then growing from that perhaps, huh?
Shannon Robnett:Yeah, no, it definitely is because when you're trying to move into a market, one of the worst things that you can do is try and manage it from a thousand miles away. Yes. Just making relationships, being being present taking advantage of what the market has to offer it. It just takes some, it, it takes some getting used to and it takes some immersion in the market. And that easiest way I've found to do that is just go in and take down three or four assets and then move through that and build your way.
Johnny Nelson:Awesome man. Give us and I like to pull on threads as we go through conversations so people actually get, get walk away with real insights. Give us your strategy then for, and this is not, no, this won't be the focus of the show, but give us your strategy cuz you're in these different markets that are growing and strong and are doing well. give us a strategy for what Shannon's team has done as you grow into market. So yes yes, you're gonna maybe take that an existing asset, but what does that more, more specifically, what does that process look like? You send down three your best team and or you hire somebody, or what does that, the evolution of the, of the market knowledge and getting better and growing the team locally. Like you said, it's hard to do so obviously you're growing the team locally. Give us some
Shannon Robnett:specifics. The reality is I start developing the relationships with the brokers, asking questions, finding deals that I like and saying, Hey, do you have more like these, not expecting them to, hi, my name's Shannon. Give me all your best deals, right? Yes. Because that's what a lot of people do. And that just it really just shows your lack of. Longevity in the marketplace because we all know it's about real relationships that kind of thing. So a couple months of talking and getting to know each other and finding different areas. Then I'll show up. I go down and spend a week in the market. I wanna, I want to get to know the area. I wanna see why I like this area. You've recommended this. I appreciate that. I've got some questions and concerns about this. And then we start circling deal. And once you've started to really engage and understand, you're gonna be spending time and money in this market. And when the realtors see that, they start to look at it and go, you know what, this guy's real he's putting time in here. He's getting to know our market. It's not just a, Hey, shoot me a deal and if the numbers align perfectly, I'll throw an offer out there as a hail Mary. And maybe we'll get it and maybe we won't, and maybe we'll use you and maybe we. We just really go for the relationships and then wanna know what the leasing strategies are, all those kinds of things. And then once we've defined that, then we look at it and say, that's great. We really like this area, this is good. Where are the development opportunities? And then we just really step into that and go, wow, what's the process? Get to know the planners. But again, it's all built on the relationships that come out of those early contacts with realtors and commercial brokers and things of that. I
Johnny Nelson:think that subconsciously also tells people that you're working with in those areas, like the brokers initially, but then of the associated people that you're serious. It's not just you have a lot of money which I'm not assuming you do or don't, but like I said, I'm just gonna go write a big check and just buy some stuff and be here and gone. It's really, it's a commitment to the area, to the people and the team that you are, like you said already is you're gonna, it's a genuine relationship. It's a genuine. In interest in that market, and you're gonna have long-term relationships for a long-term game here. And that's, that just gets people confidence. Yeah, I wanna work with this team. Yeah. Moving, kinda moving. Let's talk about Boise just maybe that's, maybe, if I'm assuming correctly, that's your anchor market. We hear a lot of stuff. Any investor worth worth of salt looks at the markets across the country. Shannon, what? Hi, what is going on in Boise? Let's just, I'm just a more of an anecdotal type of in, insight from a local there. What's going on
Shannon Robnett:there? When everybody asks Why Boise I, my. My pat answer is, I guess you haven't been here, because I'm looking out my window 45 minutes away as a ski hill, right? 45 minutes in the easterly direction is a lake where we can go boating ride jet skis, river raft. There's a absolutely a gorgeous river that you can fish in right through the center of town. We've got mountain biking, we've got kayaking, we've got all the outdoor sports you could want, hiking, fishing. All of that is right here. And we've got a really low crime rate. We've got a really good school system. We've got a really strong quality of life. And when people look at that and they see that, Hey man, I'm a three hour flight from la I'm a two hour flight from Sacramento. I can be in the Bay Area in two hours and 20 minutes on a$49 Southwest flight. Why wouldn't I live here? And we're start, we saw a lot of that, we've seen a ground swell over the last couple of decades of people moving in from outta state, but we've really seen it in the last three years, especially with Covid. Yes. Boise City went from$72,000 a year in annual income to over 94,000 in less than two years. That was because we had a lot of 150 to$200,000 a year jobs. Telecommuting jobs move into the area and people just go, you know what, if I'm gonna be locked down with 10 million of my closest friends, I might as well do it with people. I like
Johnny Nelson:That's so good, man. I love that insight. Love that story. Even back in the seventies myself, like I, I shared with you, but also with the audience. I was born in Napa, so my f my, I have some connections and this, that, and the other there. And back in the seventies, I'm a eighties baby here, but back in the seventies, my parents were like, yeah, baby. That was, some of that stuff was even going on there. So this is, I don't know, it, it's been the. Location has been long been attractive to people like from California. But of course like you said, COVID accelerated that and really made that compelling. And in two year, that 20 year delta between Sam we and 90 K of, medium income is astonishing. Of course. And that's, like you said, it just speaks to the fact that there's really a lot of people with. Clearly that's indicating high paying jobs. Ha moved in there cuz that's the only way to move the median in a, in a number, in an average like that is for a bunch of people with really well paying jobs to, to move there. And that course has bleeding, bleed down effects and sideway effects to other people in the market here. Let's talk about. Or Shannon, the development space. I love the space. What just talk to me about it. So you've done like 350 million in construction projects. I can see here in your bio, you said office buildings, city halls, fire, police stations, schools, industrial, mini storage of a wide variety of really interesting cool things with things we see all the time. How does one how does a developer first get into the space, decide you're gonna be a developer, and then find these interesting project.
Shannon Robnett:My path was one of, I saw my value as a merchant builder. I could go out and I could build your building, Johnny, and then when we're done, I shake your hand you paid me for the job, and then I have to go find another job. But if I'm in the development space, I'm gonna be able to control that a lot more. I'm gonna be able to build a product that I want. I'm gonna build it efficiently. I'm gonna be able to maximize my profitability, and then I'm gonna be able to keep that product so that it continues to pay me every. Yes. And the reality is I like doing things once and getting paid for the rest of my life, and I figured that out early on, which is unusual for a contractor, right? Yes. Most of us don't figure that out because we keep doing the same thing where we trade time for money and then we gotta go find more time to trade for someone instead of keeping that product. And I learned that early on, that if I could do that for myself. In fact, I built my first industrial building for myself in 2001, and two of my tenants are still in the building from that period of time. In fact. That's incredible. That's incredible. Yeah. One of the businesses has sold three times, but where else are you gonna move a gelato ice cream kitchen? So he has to stay there. Yes. But for the last 20 years, they've paid the rent. They've paid off that building for me. Yeah. And I did the work in 2020. Yes. Yeah. Or 2002. Yeah, 2000, 2000, sorry. Yeah. So the reality is at the end of the day, When I started to see that, I really focused on going down to the city, finding out what's going on, watching city council meetings, seeing where things were going and what the development was, and seeing what the need was. Again, building relationships with real estate brokers, finding out what their clients are wanting, what the rental market is, and out of that we've been able to build some multi-family. We've been able to build quite a bit of industrial and just be able to balance that and keep a real close tie on what's going on. But, What you're really doing is you're taking the sticks and stones and you're adding the magic ingredient of the cash flow, and you're creating the original value add. You know when you're out there buying a value add, you're buying somebody else's cash flow. They took this Yes. This pretty purple pig, and they put new carpet and new wor gym equipment in it five years ago. And your goal is to redo the landscaping and repaint the outsize, but you're already buying cash flow. that maybe you're paying$125,000 a door for that. He paid$80,000 a door for that was built in the seventies for$24,000 a door. And so there's been this whole progression of what this is, and I've just decided that, you know what, if I'm gonna hold something long-term I want it to be new. I want it to be shiny. I want it to be the cutting edge that's in the marketplace. And so that's really where we have stepped in and really accelerated our development skills to make sure that we're doing what the cities want in an area and in a fashion that makes sense for the long-term growth of the city. And then we're creating that building backwards into an eight cap and making it a really great investment for.
Johnny Nelson:I love that man. And then you touched on so many things there, but just to have folks go away here, what are the like three things that you feel like developers like yourself? Because like obviously everyone's on a developer and I think you have a unique perspective, a unique skillset, a unique maybe pension for of sniffing out some of these, all these different little things that you have to pull out. What are the three things and the people like yourself or others that you've seen that are successful developers that you say those are good skills to have personal skills or pro even professional.
Shannon Robnett:Obviously the skill of negotiation because you've gotta build backwards, right? You've gotta look at it and say, Hey, I'm getting$2 a foot for rent. Yeah. Which means I can pay this much for the building and I can pay this much for the land. The other thing you've gotta have is you've gotta have tenacity. You've gotta have, you've gotta be willing to get knocked down. You've gotta be willing to show up at the city council meetings with the neighbors and their pitchforks and their, their lanterns and they're trying to run you out of town, even though they just moved here two years ago. Yeah. You, we see it now with Steph Curry, right? Yes. He's got
Johnny Nelson:this. Oh, dude I saw that. I saw that. I was gonna post on it, but I was like, I, yeah, this is a little bit negative, but it was So one of those casing points, it was so loud. I almost couldn't stop myself from mentioning it to my friends And online. Yeah. And
Shannon Robnett:you can't because here's a guy that really is about. Change in a people group and change in, in, in his community. Yet it gets a little close to home and even he can't keep it inside.
Johnny Nelson:You wanna just tell the folk that story is, we're talking like an inside story here, but just real, real quick. Lay that, that story out real fast for the
Shannon Robnett:lay the audience. There's Steph Curry, what, famous basketball player. They're proposing within two miles of his 30 million mansion to put in a low income tax credit housing community. In California. In California, right? Yeah. In California. It's government assisted. And so it's going to be one of the largest. Income disparities you can create within two miles. You got 30 million mansions and people that are getting government assistance to pay for their housing. And Mr. Curry doesn't really want that in his neighborhood, right? Yes. And that's the beauty of being a property owner. You get a voice, right? Yes. And I believe you should have a voice. So anyway, that's the story. But what we really see is you've gotta have that tenacity to make sure that you can follow through because it is a long. I had one project that just recently took me 18 months to get entitled. Wow. Should have taken me four. It took five times as long and I had to keep going, I'm under contract, I'm spending money, all those kinds of things. And the third thing that you really have to take, Into account if you really want to be a developer, is you have to look at things from a global perspective because it's much easier and it's much more quickly satisfying to go buy a value add. Yeah, you can go do that two or three, four times a year, whereas a development is gonna take you 36 to 48 months, right? To go from start to finish on 200 units, it's going to take you a longer period of time. But I'm here to tell you when you're done, the value that's created is enormous compared. You're doing in a value add space, and then the longevity of which you can own that asset, the duration that you're gonna be able to hold that asset is going to be light years different. And you're gonna be getting top of the market rans.
Johnny Nelson:Let me I'd love to just keep going on that that thread there. But as a fund manager, Shannon, let me put my skeptical investor hat on cuz that's what, who I face. They're like, okay, but risk adjusted. So how do you talk to your investors here? And we're, this is all we'll revisit this later in the show as we wrap it up here. How do you address that? Because we know the risk is super, super high. Just like you said, it should have taken four months, it took 18 months how it, but we also know that the return on your effort in investment is the highest for development. So what has been your philosophy in working through that and what you share to.
Shannon Robnett:One of the first things that I think everybody should do is really dig into who their sponsor is. Look at their track record. I've been doing this for almost 30 years. I'm a second generation builder developer. Not that means I'm perfect, but it means that I've seen a lot of market cycles and I've seen a lot of things happen, and we've tr we've taken into account a lot of different things. The other thing that I think people need to look at is they need to look at it and understand who they are. As an investor, if you're looking for cash flow development is not. Yes. But if you're looking to grow and you're sitting there going, Hey man, I have$300,000. You can't live on cash flow on$300,000. You just can't. You've gotta turn that 300 into 3 million. And development is a great way to do that. So if you've identified your sponsor, you've dug in deep on them. You've identified what the pitfalls are in the area and how things can get out of hand, and then you really wanna understand what kind of contingency plans do they have, because if they say they don't need them run like hell. Because if you don't have at least three contingency plans in every development deal, you haven't done this before. We've seen, just look at what's happened in the last three years. We couldn't get windows, we couldn't get tubs, we couldn't get electrical equipment, we couldn't get workers, we had Covid shutdown, we had all this stuff just in the last 24 months. 36 months and if we decided that was a, an obstacle we would've missed out on everything that's come. With that came massive rent growth, which we will participate in. But those are the kind of things that you really just need to look at and identify who you are as an investor before you get too far down that road. I love that man.
Johnny Nelson:That's really good here. Let's talk about, let's pivot towards the financing length and the debt side of this here. And that's something I'm very curious about as well. What, is there a tried and true method you've done every time have you evolved on it? And what is, what do you like to see now? Three questions here. So tried and true. Have you evolved and what are you doing now?
Shannon Robnett:Yeah, so I think tried and true. The more equity you bring, the more comfortable everything gets, I don't like a 5% contingency. I like a 10% contingency. When you're looking at the overall numbers of the deal and you're gonna throw, let's call it another half a million dollars in, on$5 million worth of equity, if that really screws up your numbers, you probably shouldn't do the deal, right? So tried and true is always bring more than you. Number. And then the other question was, have I evolved? Absolutely. Because I didn't always bring extra, right? Yeah. I always, I used to look at it and man, you could really push those numbers a half a percent, maybe three quarters of a percent by not. As
Johnny Nelson:an all underwriting, but yes, now we're talking about development. You can
Shannon Robnett:pencil whip that until it looks like you're, absolutely amazing. But the reality is when you really get done and you look at what's practical, we're getting ready to go out on an investment right now, and I'm showing a 14 point a half percent i r r. I'm starting out at a 6% cash on cash. Within 18 months, I'll be at 9% cash on cash just because we'll be raising rents. And this is in an industrial product, right? Yes. But if everything goes right, my underwriting's somewhere in the 20 threes, but I'm not showing that. Because when you really know, the evolution for me has been from trying to sell my number. To letting people understand who they're investing with, letting them understand that it's me. No and trust me, understand that my results have always been consistent because my underwriting is as conservative as I can make it. And still get people to join because I don't like disappointing anyone. And I like being gr grounded in real world stuff. So that's really how I've evolved. Yeah. That's such
Johnny Nelson:a, really, it's such a ama, immature way of, and I love to see that and hear that, and I'm gr I'm getting there myself as, as well. But that's amazing to hear that. And that final piece, that final question. What are you doing now? And there's lots more talk about, but what are you doing right now for on the debt and the financing side? Talked about some principles, but what are you doing? So you put a deal together now, what does that look like? What's that capital stack look like for
Shannon Robnett:you? You know, One of the things that's exciting to me right now, and I really told everybody to do this when rates were two and 3%, is get all the debt you can get. Get it locked in for as long as you can. Yes. And then make it sum. Because I'm going after consumable debt right now, like there's no, tomorrow. We're taking down deals that are 45, 50% equity on 4% consumable debt with nine years left still on it, and that is trading at a premium right now because you can't get that debt. Yes. Yeah, but I can take that down. We can have a nice stabilized asset that's gonna spit off cash. We can refi if we want to, if rates come back down. We've got all kinds of options. But that stabilized debt is what we're putting in that final piece right now, and where we're looking at that, that consumable, because it really helps your n O I and it helps them achieve a higher sales price, but also puts us in a position to maybe be able to pay a little bit more and still have better cash.
Johnny Nelson:Yeah. So a win. Yeah. And also people look at the market and they look at the debt market out there and they're like, oh, Fannie and Freddie, your agency debt is, at, six or whatever it is right now. And then it's actually the more sophisticated investors and developers or sponsors and developers if you would, are finding these kinds of deals. So it's yes, that is the rate, but they're not buying at that rate. They're buying, these are chasing these kinds of deals. Like you said, there is a premium for chasing these guys down. But also, I it's not. It wouldn't be, wouldn't make sense to find, to get, to assume the debt and then get a higher interest rate. So you're keeping it not too far away from wherever the debt is right
Shannon Robnett:now, right? Yeah. Yeah. And, on these assumptions, some of this stuff is done with life insurance debt, so they don't like to replace it, right? No. They want the 10 years on it. so you're able to take that down and everybody likes that, especially when you think about the story you're selling. Now, when you're talking about four. Debt. Everybody just swoons and go, ah, I remember when. But the reality is that's amazing debt. And if we can have that going into an inflationary environment, that asset that we're buying and assuming is going to continue to appreciate just based on the debt that's associated with it.
Johnny Nelson:That debt, the, that itself is a tremendously viable. Asset, if you would. It's exactly, extremely it really valuable. Yeah. You know it, and with inflation you look at like where the debt is and then you, or where lending is at the high level, at the agency level and they look at where inflation is and you're getting something at four. It's like you put that in your spreadsheets, it's holy smoke this, again, we're not gonna get all excited or over too far over a skis about, the potential returns. But it makes a really, a very compelling. Potential for the deal. And it just, it gets, strengthens the foundation of the deal that you're not, like you said, you're being conservative, which everyone says you're gonna be conservative, but when you know what to look for and you dig into those numbers, then it's it's looking really compelling and he really gets confidence to the sponsor and the investment.
Shannon Robnett:Yeah. And I think right now, Johnny, in this market, people that are showing 23, 24, 20 5% returns. Yes. You kind need to be a little bit leery, because those returns. Aren't normal, right? They have been for the last two, three years. But now with interest rates changing, those aren't really going to be the norm moving forward, nor have they been in the past. Yeah. So when you're looking at that and you're seeing, man, we've juiced this thing and we're getting a 23% return, there's the potential for that. Everything goes right. That's great. I don't think this is the economy in the market that everything goes right for the next 24.
Johnny Nelson:That's awesome, man. Moving to to the next stage of the, as we wrap up the conversation here, what asset class is, I know you mentioned quite a few there industrial, like you mentioned that which one do you feel is most compelling for the next 12 months or 24 months? What are you trying to do? What do you think is something you want? You're putting your money
Shannon Robnett:behind? absolutely industrial right now. And two reasons why. Number one industrial is not it's a slower burn, right? But it also trades at a six and a half to a seven cap. So you're already stepping into cash flow. And I think that the other side of that coin is that multi-family has been overblown for so long. Yeah. That now we're having an adjustment and we're gonna see a period where people aren't able to continue that. And there's gonna be some fallout in there. There's gonna be some things that are gonna happen. But what I also know is that tenant. When we had tenants in 2000 and and eight that were losing their houses, they were keeping their businesses, right? Because that's how they feed themselves. Yeah. So when you've got an uncertain environment and you've got. Property taxes are going up and you got insurance going up and all this stuff. Industrials are triple net, so if you're looking for something that's gonna be a lot smoother sailing for the next 24 months than anything else, right now, I think industrial is gonna be that space because of all the factors that go along with that higher cash returns and the expenses are actually passed on to.
Johnny Nelson:That's amazing, man. Let's zoom out on the, is the final comment here, and if you have a comment on it, I'd love to get it. That is the related to covid and also geopolitical strife and tension with China in particular, but other, around the world that is the reassuring of American manufacturing and the industrial base. Do you think that also is having a major impact in the industrial
Shannon Robnett:space? I do. Houston last year absorbed 20 million square feet of new industrial, right? Who it was like brand new. Yeah, they're set to bring on another 27 million square feet. So some of these are the Amazon million square foot facilities. But the other side of that is, we started, we saw that happened with Long Beach, California during Covid and how that got backed up. People rediscovered Houston as a shipping port. We're seeing that grow, but we're seeing people get pissed off about having to. For electrical gear, having to struggle with this, having to struggle with that, and we're seeing that businesses now. I think that, for a lot of years, Americans have had the attitude of, I want it cheaper. Now we're thinking, we just want it. So if we want it, we gotta make it here. so if
Johnny Nelson:you could if I can save, maybe half or a few bucks on, yeah. With some time. Versus I could save, I'm not gonna save anything if I can't sell it. Exactly. So it's like I at least rather I, if I could all, I just need to sell it now, I'll just be, I need to have the ability to sell it or some transact something
Shannon Robnett:here. And I think that you're gonna see, and I think we are seeing a lot more people, I was just down in Phoenix, Arizona with my parents and you've got, Toshiba is building that, 20 billion plant down there. It's an amazing thing to watch this go on 27,000 construction workers out there on the job. on a thousand acres because Toshiba's looking at it going, yeah, probably oughta quit the shipping problem. And just build it where we're gonna
Johnny Nelson:use'em. And I, my first deal, my, it's a multifamily deal, so you have to forgive me for that. Is is also in Phoenix there. And I've seen also the Chibo or also the T S M C chip manufacturing and what Intel's pouring into the chip manufacturing centers as well, across which, it's also tied into the geopolitical tension with Taiwan, of course, being so close to China. And then the threat of them, not being, getting attacked. Annihilated, whatever it is, and then getting sucked into the black hole. Yeah. How having that shut down America's dominant edge in the military and the uh, technological industrial space, having so much of our advanced chips. So obviously the Biden administration is something good that I agreed with they did is put, million, many billions of dollars behind those initiatives to reho. At least that from that perspective. And of course that has a lot of bleed, bleed side, side effect on the other, adjacent, vendors and other supports. Companies that help those people.
Shannon Robnett:I agree. I agree. And it's something we should have been doing and paying a lot more attention to for a lot longer in our history. But I'm glad we're doing something about it now. I think it'll be very strong for America and it will. Our bottom line and help our wages increase. Awesome,
Johnny Nelson:man. What is the best way for people to find out more about you and to hear what you're doing and to get in contact with you, Robin or Shannon? Sorry.
Shannon Robnett:Yeah, just shannon rob net.com. You've got access to my calendar right there. I'd love to book an appointment. Find out what we can do to help you. You can see our job site cameras, see what's going on, check out our past and present projects. You can get it all right. I love that,
Johnny Nelson:man. I love that. Did you actually have live cameras? And I'll have to check it out myself, but your live cameras are the job site, so you're not just give given Shannon money Hey, take a hundred k, whatever, and just go do something like that. You actually can see you're actually putting his money to work and your, or your money to work and doing, being productive and responsible and good stewards of that money. Absolutely. Until next, yeah. Until next time, everyone, thank you for listening to another episode of the Investments Regional podcast. Of course, we always appreciate reviews, likes, comments, that always helps us grow. And so until next time, thank you Robin or Shannon. We'll see ya.