Adapting Real Estate Strategies in Changing Market Conditions | Lawrence Malloy

Lawrence Malloy’s been rocking the real estate world in Orlando for 20 years, but the last 12 months have been a whole different game. With the market getting all jittery because of government moves, slowing down sales and dropping prices, Lawrence and the crew have had to switch things up. They’re all about making smart buys now, aiming for those sweet deals that can still pull in a hefty profit, whether through flipping or renting out. And yeah, where you buy is still king – being close to the city center is where it’s at. Despite the market taking a 15% hit, they’re doubling down on buying and reselling properties, focusing on ones that’ll bring in steady cash flow from rentals.

Running a rehab business has its own playbook, like making sure you’ve got the right people on your team, starting with a rockstar executive assistant who can juggle everything from calls to client schmoozing. And getting into the nitty-gritty of deals and acquisitions? It’s all about keeping it in-house, using your own team to get the job done right. Malloy’s message is pretty clear: don’t bite off more than you can chew, especially with the market being as wobbly as it is. Stick with the community, find a mentor, and don’t go chasing waterfalls without a solid plan. It’s about playing it smart, learning from those around you, and making sure you’re set up for the long haul.

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Justin: All right, science flipping podcast listeners, as always in this episode is brought to you by Rocketly.ai. If you’re looking for a seller, lead generating system that has automation in AI bot and has sellers coming to you, then Rocketly.ai is your choice. Make sure you head over to the website. Fill out an application and schedule a demo now to see the power of rocketly.ai. Yo, yo. What is up Science Flipping Family, welcome back to another episode of The Science of Flipping. I have another incredible guest, someone I consider a close friend of mine and who is an absolute boss down in the Tampa Bay, Orlando, Central Florida, who’s been doing this 20 years. Lawrence Malloy is in the house. What’s up, dude?

Lawrence: Hey, what’s going on, man, I really, really appreciate you having me on. First and foremost, I just want to say thank you for allowing me to come out of your podcasts and spread my message. I really, really appreciate you.

Justin: Yeah, bro. Well, we’ve known each other a long time now and better part of six years or so, five years, six years. And no, listen my thanks. Got to go to you. You just had me down in your RIA. He runs the RIA down in Orlando. So if you are listening to this or watching this on YouTube, make sure you are joining his RIA down in Orlando, if you’re in the area, but you had me speak to roughly 30 something people, and it was awesome. And you have a great community out there, and you have great people in the space. So thank you again, and I’m happy that we get to collab here on this episode. So all

Lawrence: Alright, just we’re clear. There was like 75 people there.

Justin: 75 is the number, so that’s good, dude. It was a great crew. You have a great following there. So you know, you’re the man, you know, tell everyone in that space, everyone needs to be a part of that, that RIA is really powerful. You say

Lawrence: That it’s a greater Orlando RIA, yeah. And we work really, really hard at it. We’ve been in business for several years now. I think I’ve owned it for five years or so, and then it was running before I took it over. So we work really, really hard at that, and it’s a great space for investors to come and network. We have new intermediate and advanced investors all over the board, and we have a good support of business vendors that will come in and help you on your journey, depending on what you need. So it’s a great space for investors to come and network with other like minded individuals.

Justin: Love it, dude. And as always, my man looks fresh wearing the the newest fashion forward outfits, the shoes, the hoodies, the watches him and I Him and I are the lawn to like in that sense. So excited to have you, bro. But let’s jump into it. So you’ve done this now for 20 years, you’ve been around. You’ve done a lot of deals, you’ve seen a lot of things. So let’s jump into the last 12 months, right? I think anyone who’s been around for any amount of time, we’ve realized the change, right? We probably felt it 24 months ago, and we’ve gotten ahead of it to some extent. What and how has your business changed just in the period of the last 12 months?

Lawrence: So great question. So essentially, our government is trying to tank the real estate market, raising interest rates. So obviously, when that happens, you know, there’s going to be less people that are ultimately selling. Why? Because they can’t sell and go somewhere else and go buy something else. So it just slowed down. There’s less people that are selling. In general, the last couple years, we were really spoiled because people were just selling because they could sell. It’s like, wow, my house is worth that much. Sure, I’ll sell it. I don’t care, and I’ll go move somewhere else, do whatever, like I’ll sell this one. I have a low interest rate, so I can just go buy something else, take some of the proceeds from that sale and just apply it towards a down payment on other property. And I have this really low interest rate, they’re like, Yeah, sure, but now we’re not in that same market, so just our overall numbers were a volume company. So we do, you know, roughly, you know, anywhere from 20 or 30 properties we’re working on at any given time, with buying, selling, rehabbing rentals, whatever it is, and it’s just kind of slowed down. Now we’re closer to like 15 or 20 properties that we’re working on right now. So you know, a third of our production has kind of slowed down, which we still do good. But one of the main reasons is, as the market, stuff isn’t selling as quickly, because interest rates are higher, so not as many buyers in the marketplace. So the key for me is I really want to scrutinize my numbers and make sure that I’m buying these properties at the right price. As we all know, you know, you really win when you purchase the properties in that initial negotiation. So back in the day, a year ago, you could buy something, and even if the numbers weren’t that great, the market would erase some of your mistakes, because the the market was still going up at the time. So you could buy something. Maybe the numbers were a little tight, but then all of a sudden you are holding on to it for a couple months, while it’s being rehabbed, and then you sell it, and all of a sudden you made all. This money. Why? Because the, you know, the market erased some of some of that mistake. Now it’s going the opposite way as the market’s coming down just a little bit, or whatever. It’s come down right already, like a good 15% like already. So since a year ago, from now, come down 15% assets that were selling for 300 a year ago are now selling for like, 250,000 so it’s already come down. So you gotta be really, really careful on your numbers, because if you’re locking up deals that are tight by the time you’re done rehabbing them, like it could be, the rehab cost a little bit more at the end of the day than what you were expecting. You were thinking 30,000 35,000 now it’s like a $45,000 rehab. Markets coming down just a little bit. So all of a sudden you thought it was going to be a bigger spread. Markets come down. Rehab costs a little bit more. Now you’re really kind of thinning out some of these profits. So there’s a lot of things that are changing, which is really, really important, that you’re being diligent on your numbers, and you’re being very careful on what you’re buying and what you’re passing on.

Justin: Yeah. So my model right is to buy things that are going to ARV under 300 that is the top value. Now, really my number is 250 if I’m being really honest, I say 300 because they can still work, and we just sold one for 269 but really it’s 250 and under. And what I mean by that is it creates a great flip or rental. So either way, I’m going to win on my exit, meaning I can keep it because the rents are right, even at eight and a half percent interest, 9% interest, even though the rates have changed, I’m underwriting conservatively, assuming those rates, and if it still pencils, then I’ll just keep it in my portfolio. Conversely, I can also flip it, because I’ll make somewhere between 40 to $50,000 now I will flip a property. My target is always 50. Like I don’t really want to fool with rehabs until I can make 50 grand. That’s always my target. Will I do a deal and make 40, I will, but my target will always be 50, and it’s because that price point gives me two exits to keep it or to flip it. What is your model in the Central Florida like? What are you buying versus maybe just wholesaling? Because it’s not a model that you would be willing to buy.

So I like that. What you just said, I really, really like that strategy as well. Jay, one of the things that I also like is doing, you know, up to 350,000 the reason why, and I’m buying at, like, a MAO formula, Max allowable offer, is because it gives you some it gives you enough profit margin where, if you do go over on your rehab budget, or if you have to reduce the price a little bit, you’re still making quite a bit of money on there. You know, the ideal goal is to make 20% of the after repair value. So at 350 good $70,000 and you’re still landing right around that $50,000 if kind of the numbers fudge here or there. And the last time I checked 50 is 50. But one of the main things that I’m doing is I’m really being picky on the projects that I’m picking up. So the like, back in the day, people will take on these crazy rehabs. They’re like, Oh yeah, you can make it $350,000 but you gotta add this room, you gotta do this thing. You have to do all of these crazy things to a versus now I’m doing easy projects. That’s the key, man, that the key is knowing what to purchase and what to pass on. If I if that is probably the number one if you’re going to be a rehabber, I would say, understand what to purchase and what to pass on, because there’s so many deals that on paper, it will pencil out. But then in reality, and from experience and doing over thousand properties, the experience tells me, Ah, you don’t want to mess with that one, because you’re going to run into this issue, this issue, this issue, later on down the road, and it’s probably not worth your time, effort or energy at the end of the day. I’ve been in those deals where I think I’m going to be in and out of them, like four months, and all of a sudden, a year later, you’re still dealing with it, and you’re like, Why did I do this? And then sometimes you got to do it, and then you don’t quite learn the lesson, and then you got to do this crap again. And you’re like, Oh, I know better this time. So now it’s a hard conversation with my acquisition reps, because they’ll come in here I got this deal. And then, as I underwrite it, I may say, hey, you know, we can’t buy that one. And then I just have to explain to them, you know, they sell me on why I should buy it? And I sell them on, like, why I can or why? You know, we shouldn’t buy it based on my experience and insight. Which brings me to why it’s important to make sure that people stay following you very closely, and make sure they’re in your universe very, very closely, because there’s insight versus information, and those are the types of things where just because you can do something doesn’t necessarily mean you should and having a mentor, coach, consultant that’s close by you is going to help you avoid some of these costly mistakes. And mistakes come in two form, they come in monetary and then they also come in time. So if you lose six months of your life like that, is a cost, maybe not the expense that you see on paper, but it is a huge cost. And we’re not just talking about losing six months. It’s the stress, it’s the anxiety, it’s the sleepless nights. It comes in many, many different forms.

Justin: Yeah, I was just gonna say, I don’t know how the hell you’ve escaped 20 years as business with all that hair on your nugget, but bro, I’m still jealous. I lost all mine. We all know that. So I would tell you, you know.

Lawrence: I have some great pictures of you back in the day with a lawyer like it looked good. Out in San Diego I have some good ones? I’m gonna start posting them some throwbacks.

Justin: Now the reason why I try to keep a note, I want to hear your understanding or philosophy, I guess I believe people who are gonna buy my flip at the end purchase, right? So the owner occupant, when they’re gonna go get a loan for a property that’s $250,000 or less, and the interest rate is 8% nah, for an owner occupant is probably close to seven and a half seven, just depending upon whatever. But it’s still an affordable home. When you start to get into the four hundreds, five hundreds and six hundreds, I believe right now that is the market that’s going to be the biggest hit is somewhere between 400 and 700. I think that middle class, what you people used to be able to afford, is no longer affordable based around the increase in interest rate (100%) do are you just avoiding that like the plague? As I am?

Lawrence: I’m not avoiding it. I’m just underwriting every deal. So it has to be the right house, in the right neighborhood, in the right marketplace. So like, perfect example, and that’s why I’m a big advocate. Like, I don’t do nationwide. I don’t buy nationwide. I buy in my marketplace, which is actually six counties that I’ve been buying in for 20 years. And that gives me some insight. Once again, it’s about insight, right? So like, if I know a neighborhood in South Tampa where I currently live, you know, $400K to 700,000 isn’t shipped for a house just because the location, you know, but if you go take that four to $700,000 house on the outskirts of Tampa, one of these, you know, outer markets, then that’s a luxury house out there, and that’s where people are going to, you know, get screwed at and you know that value is going to have to come down. You’re going to have to reduce the price. I mean, there’s a lot of things that will happen, because not as many people are buying in those areas, so they’re sitting on the market, you know, a longer time. So this is, once again, these are just kind of insights. So, you know, closer to city center, you know, more valuable real estate, but the further out you get, it may be a little bit more challenging. So I’m not avoiding it. I’m just taking or few $400K to $700,000 out at the beaches, not a big deal. Like, people pick that up all day long, secondary homes, like, so I’m just really looking at it for what it is, versus not even doing deals and not even looking at them at all, you know, because there’s some good deals that are out there, but they’re few and far in between.

Justin: What percentage right now does your your business look between purchasing, really purchasing for either a buy and hold, flip or wholesaling? What percentage on both are you? Are you at right now?

Lawrence: So most of the stuff that I’m buying now I’m buying and I’m reselling. So buying it light rehab and then reselling. I’m looking for some properties that actually make sense for cash flow, for rentals. I think that’s an amazing opportunity right now. I’ll give you a perfect example. The market’s just come down, right? It just come down about 15% so an asset that that you used to be able to buy on the open market, that was just 300,000 has now come down to where that same asset is selling for on the open market, 240,000 open market. This is through an age on MLS, like values have just come down. If you could pick up that asset for 200 or 190 because you’re a good negotiator, and you’re able to pick up that asset and hold on to it long term, all of a sudden, put into your portfolio. Let’s say 2, 3, 4, 5, years down the road, whatever it is, where do you think it’s going to go back up to, yeah, into 300 Yeah, yeah, it at least 300 right? Because it was just there. So however, and let’s say you pick up 10 of those assets and they’re just long term rentals, and you’re picking up the right assets, so just because you can doesn’t mean you should. So if you pick up a rental property and it’s 100 year old freaking frame bungalow house, and it’s a three, two, but it’s 100 years old and blah, blah, blah, like, I don’t love that asset, versus trying to pick up a cookie cutter house that all of the hedge funds are picking up that are easy, like the layouts already there. Like, it’s a newer house, 1980 and newer. Like, that’s a better, safer bet for me to pick up that asset if you can pick it up at 200-190 once again, which isn’t a hard negotiation at the end of the day, I think those are the assets to hold on to, and you pick up as many of those as possible until the market adjusts back up. So there’s an equity play there. So you pick it up for 190 all sudden it’s back up `you could do. In addition to that, the tax benefits that you’re going to make off of it in even if you don’t have a crazy cash flow, like, That’s the least of my concerns right now, more is the equity play as well as the tax savings on it. Yeah. Does that make sense to you?

Justin: It makes sense to me, for sure. And so when you are so again, the real question, if you’re doing, how many deals a month total, and then what percentage are you just wholesaling off to someone else? or that you’re buying yourself?

Lawrence: I’m wholesaling like zero. I’m keeping like both of them. I’m buying all of them for myself. I don’t wholesale. I’ve never been a big wholesaler. It’s just it’s hard because I’m like, why am I going to wholesale this deal to someone else when I could just take it down myself, and I have the infrastructure, the you know, project managers and the contractors, everything else to just kind of do the rehab. There’s some that every once in a while, I’ll buy something and wholesale it off, just because, whether we have, you know, all these projects going on, or sometimes the work is just, it’s too much work for, I think, for my team that I want to take on. So I’ll wholesale it off. I love wholesaling to other contractors, because they have to cruise it. It kind of gives them an opportunity to make some money on a deal that they’re actually invested in. So I’ll wholesale something that’s like a very, very heavy rehab, but it’s fund for in between, like, most of the stuff we like to take down ourselves and, you know, rehab, or do whatever we’re gonna do with it. Sometimes I’ll rehab. I’ll whole tail a few things here there, but even whole tailing is not as it’s it’s not as consistent as it was, you know, a year ago, two years ago, just because there’s a lot less inventory, so people are buying anything, and now you just have that same luxury.

Justin: So, you’re talking about running a rehab business at scale. And so let’s talk about kind of what that looks like Now, granted, many listeners, most likely, are beginners, more so than 15, 20, years like you and I have right? So we have to take that into some level of perspective of how you can start to grow and scale. But if you are going to start and grow and scale and you need to leverage your time, what’s your first suggestion to those that are contemplating whether they’re going to go, do they hire VA’s? Do they hire local? What would be the role first, just as a question to start?

Lawrence: that’s a that’s really a loaded question, because I like an in house executive assistant for your first hire, like bar none. And the reason being is, for many, many years, I ran with just me and an executive assistant for many years, and basically an executive assistant, they can do everything like this is someone that’s a highly, highly skilled at working with C suite employees or teams, or whatever. And so they’re very detail oriented, and they can handle a lot of different tasks. So the idea is, you teach them what to do. You start them off, Hey, I just need you to do this one thing. And then, okay, I learned that. Okay, let’s add this. Let’s add this, let’s add this. And you know, you can build upon that person, and you can actually build them so you find someone with the right characteristics, I like in house, just because they can do 90% of business and 10% of personal and your main job, if you’re getting started in this business, is to be locking up deals. That’s probably, you know, an owner’s superpower is to be able to get on the phone and lock up that deal. That conversion process is probably by far the biggest skill set that you need in this business, because that’s how you’re going to do more deals. So anything outside of that, which is sending contracts, opening mail, there’s answering the phones, like even if, if you push out marketing and have people calling into you, you still want to have your executive assistant that’s answering the phone, filling out the lead sheet, building rapport. I’ll tell you a funny story. So, you know, as a type personalities, we always think we’re the best at every freaking job that’s out there. Like, oh, I’m I’m the best person to lock up deal. I’m the best person at talking to the sellers. I’m the best person at doing all these things. And that’s what I really thought this. This is some bullcrap that I actually really thought, right? (You bought in your own bullcrap. Got it.) Exactly, yeah. So then all of a sudden, I teach my executive assistant how to hate someone’s gonna call in, and then here goes Alicia and ask them this questions. And your goal is to build rapport, and your goal is to get all of these questions answered, you know? And so then my sweet, awesome executive assistants would get on the phone, and they’d get really good at bonding with the person, whatever, and building rapport, getting all the questions answered. If someone’s like, hey, well, what about this? Or what about that? And they they want to get deeper into a question that they asked the my executives would just say,”Hey, I’m not sure. I’m just, you know, the executive and admin assistant here, let me go ahead and take down this information. I’ll pass it along to the owner, and then I’ll have him give you a shout if you’re if he’s interested in the property”. So, we were never guaranteeing call back, but she would get all the information. And I was like, damn, she got like, really, really good at this. So this is the thing that holds people back from scaling. Is sometimes they make the wrong hire, and then they think, oh, you know, I’m gonna, you know, I knew I was the best one at doing this. This other no one can do it as good as I can. And the reality is they probably just made the wrong hire, versus, like, if you take the time and train someone properly, you’d be surprised. And my executive assistant is way better at all the stuff that I have her do. Like, she’s just, she’s really, really, really good.

Justin: What about the people that are like, I get a lot of people that basically want to outsource the sales out of the gate. All want to hire a sales guy. What are your thoughts on those people who are like, oh, I want to hire a sales guy first.

Lawrence: I think, I think it’s just a matter of people are have fear that they can’t lock up deals, or they can’t learn, or they don’t want to learn how to lock up deals. And I don’t love that. I think if you’re in this business, I honestly think that you should hop on the phones and you should learn how to lock up these deals, talk to sellers, because at the end of the day, this whole thing as you’re turning from the hustler of your business into the CEO, I think a big part of this is being able to lead your team. And one of the main ways I’ve been able to gain the respect of my team is because I’ve been there, done that, and I’m able to lead them from the front and not telling them what to do. So not only do I come over the top with kind of giving them some additional training here, there I’m able to talk intelligently about that process, I also provide additional sales training that isn’t my training, but an outside so we have a consistent training for them all the time, and on top of that, if they have additional questions, then you know, we’ll talk. I also have a sales manager, so that is one of the biggest. What’s crazy to me, Justin, is when people outsource their sales to like a virtual assistant, their acquisitions to virtual right, just like that’s one of the most important parts of your business, and you have to treat it as such. So not only should you do it, I think that you should also have, you know, sales training for people. And I also think that you should consider getting a sales manager as you get up and going. And when I say sales manager, not a competing sales manager, someone that’s literally there to support, answer questions, motivate, do all the things, but not necessarily someone that’s on the phones trying to make sales as well. But that’s, you know, once again, we’re talking about levels to this, you know, to this game. And that’s a further, uh, advanced, you know, strategy, or advanced team member.

Justin: Yeah, I think, you know, my philosophy is, I never want people to hire the like, it’s the last hire is the acquisition person. The reason being is the phrase goes, you make your money on the what the buy, right? So you need to be the best. And if you’re the business owner, you’re the one in the space, even if you’re doing this part time, you need to hold on to the acquisitions for as long as you can, because it’s your business. It’s your baby, and even if you don’t feel like you’re the best, you need to become the best and study it and understand it and hire a coach and things of that nature. But if, if the saying is true, and you and I both believe it is, I don’t want people hiring acquisitions in the first two or three hires. I don’t want them to, because you make your money on the buy. That is it, where the negotiation happens. Now, the only extent I’m willing to kind of say, All right, well, someone is a massive, massive introvert, and they just know they are not the right salesperson, but they’re a great operator. They’re a great integrator. They have the vision to build the business, fine. But I’ll tell you, very rarely does the integrator operator have this crazy entrepreneur, visionary side that they want to build something big. So it’s a very rare breed that has the visionary side willing to build it, but they realize their strong suit is not sales, that’s rare, that doesn’t come a long.

Lawrence: But you get those types of people quite a bit that they want to do real estate investing, because they see the numbers. So you get those introvert kind of operator types that understand the math behind it. So they’re like, Okay, I want to do this thing because, you know, the numbers make sense. So I a 1,000% agree with you wholeheartedly. One aspect, I would say is, if you were to come on and start doing acquisitions, not you, but like an investor coming into the business, and you hire an executive assistant, and you’re teaching the assistant how to do all of the, you know, paperwork. Minimum wage activities, things that you’re taking that’s causing you to take time, or whatever else you’re teaching them how to do. All that. I don’t mind someone bringing on an acquisition rep that’s working alongside of them so that they can train the acquisition rep. You’re still the main person. You’re still doing acquisitions yourself, but being able to train one person to kind of bring them up so that you could be doing deals, and they’re doing deals, and you guys are collaborating. So I don’t mind that on a on a small business scale, like an executive assistant plus an acquisition rep like that, actually is not a bad team to you could do a million, just a million of business off of those people, and even if you’re teaching that person how to do acquisitions, or you’re teaching them how to do dispositions as well, to kind of free up some time, the reality is, is your executive assistant can do dispositions like there’s just a lot of things that you can do. And I’m all about this is one thing you will absolutely learn about me, is I’m all about, how much profit are you bring into the bottom line, there’s no ego involved in my game, like I’m not. Oh yeah. I need this big old business with 40 people, 50 people, whatever. At the end day, I want to know how much money am I putting into my pocket. Am I running a lean, mean machine at the end of the day that’s putting more profit in the profit in the pocket? That’s the most thing that I’m that’s the thing that I’m most concerned about. At the end of the day, I see a lot of people I gotta scale and do these big business and beat on their chest, because they have a big office, and they have all this expense and all this team and everything else, and at the end of the day, they’re not putting anything in their pocket, or they’re stressed out because they have all this overhead expense, the market shifts, and all of a sudden you’re not doing as much business and you can’t cover your overhead.

Justin: Yeah, I think, you know, this kind of goes back to the point that I make regarding active income versus passive income, but it’s really about go create a bunch of income to pay yourself, right? So I pretty much have a hard line in the sand of saying, If you can’t make 250 grand a year, you probably shouldn’t be hiring anybody now, I like the executive assistant thing. That was something that we adopted years and years and years ago as our first hire ever in real estate, and it worked out wonderfully. So I do like that. But really, you need to make sure, if you’re going to do this as a part time hustle or full time, make sure you’re making real money. Not not just saying, Oh, I made a million dollars, but you paid yourself 80 grand, which, by the way, I’ve done that. I’ve quite literally had that experience. And it’s not a fun experience, right? To, yeah, sure, it looks cool on Instagram or whatever, but really, you’re like, Oh, my God, I’m barely paying my bills. And that’s not just a fun place to be.

Lawrence: All of this circles back to why they should be in your world, in your community, or my world, my community, it all circles back to that, right? Because you need to be able to ask someone honest questions, where they can ultimately give you some insights to Hey, that makes sense, that doesn’t make sense, or bounce questions on that you can trust that’s in your corner, that’s not going to bullcrap you and actually give you real information, like when people ask me questions, I give them real insight versus, you know, find in these kinds of stuff, which is what you’ll find on the internet a lot of times, like theories versus actuality, and what you can actually do versus what you can’t do.

Justin: There’s no doubt, (experience). Let’s leave everybody with a little bit of 20 years experience, as we talked about, of how do you see your business going into 2024 any pivots, any changes, any modifications, any adaptions, relative to what you’ve been doing in the last four to five years?

Lawrence: I think it comes down to just being very diligent in what you’re doing. There’s a lot of uncertainty in the marketplace, so this isn’t the time to be taking these big risk or these big swings. When there’s uncertainty in the market. There’s a lot of people that in the past 12 months had taken big swings because the market was doing really, well, and now some of that stuff has come into fruition. Oh, I’m just going to take this big swing on this property. I’ll refinance it later. And now, all of a sudden, interest rates are so high they can’t even refinance it. They’re trying to figure out what to do. The market’s shifting. We’re not in a consistent market right at this moment in time. So what I say is just be a little bit more cautious on what you buy, because you can find yourself out of the business before you find yourself in the business. And another thing is just making sure, like, if you’re thinking about scaling, understand it’s a process. All of this stuff is a process at the end of the day, so nothing’s happening overnight. People are, you know, going on the internet, and they’re seeing other people that they think, Oh, my God, this guy built this business so quickly. They’re doing all this stuff, and they’re trying to compare their situation with someone else’s, and it’s a totally different situation. You know, don’t compare yourself with anybody. Go at your own pace, and at the end of the day. Okay, make sure that you are not taking these crazy risks in this moment in time. Now’s not the time. Now’s the time to you know, you obviously, we all take risks. We take calculated risks. And if I could give anybody advice, it’s you better be a part of a community that you’re able to bounce some ideas off of and be as vulnerable as possible. You go to the side because you want to get the information that you need in order to be successful.

Justin: Absolutely, I think that’s great advice. That is why my Science Flipping Community, your greater Orlando RIA is available. Like for those of you that are in the central area, make sure to go to greater Orlando Ria and make sure to be following my guy, Lawrence Malloy, what’s your handle on Instagram?

Lawrence: My handle is the Lawrence L, A, W, R, E, N, C, E, Malloy , M, A , L, L, O, Y on Instagram definitely putting out a lot of good content. And I’m just, you know, I’m really appreciative that you have me on here today to be able to deliver this message, because I think a lot of people need it. Think a lot of people are just struggling right now, trying to figure out, like, what to do, what not to do. And the biggest thing is you have to be involved in a community. You have to follow true investors that are actually doing deals. You’re an operator. I’m an operator in business right now, for a very long time, it’s very important you follow the right people.

Justin: Yeah, man, appreciate you. You are busy, and so thank you very much for your time. Thank you for the compliments, my guy. Appreciate you. And that is the end of this episode. Be aware of the next episode coming out. Peace.