So as multifamily became more and more overheated, especially in 2021 when we're coming out of

2020 where the government printed 40% of the money supply, they dropped interest rates basically to zero,

and so at that time a lot of multifamily money it was just

looking for these assets and so we were underwriting a lot of deals any good deal with a

decent pricing guidance in a good market would have 40 to 50

property tours and they would have 25 to 30 offers.

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Okay, so let's talk about now the marriage of multifamily and short-term rentals.

So it's funny because we have a lot of multifamily also that we long term, you know, no short term in there.

And people always say, well, why don't you think about turning those into short terms?

And I'm like, because they're my long terms and they're doing what they need to do.

And by the way, that would be a hotel.

Like you've independently come to the idea of what a hotel is.

So what made you decide to get into the hotel space?

Because I think anybody who's ever owned a short-term rental

has driven by you know one of those cool old retro roadside motels have been like

man that would be really cool to renovate and turn it into just like an Airbnb short-term rental.

So I think we've all had that idea.

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