HomeUnion’s CEO, Don Ganguly was featured on the Real Estate Coaching Radio podcast, which aired on Thursday Jan. 26. He spoke with hosts Tim and Julie Harris about founding HomeUnion, the benefits of the platform, the company’s innovative asset recommendation engine, and ReaLoyalty, a commission-based program for real estate professionals.
To listen to the full interview, and learn how HomeUnion is revolutionizing the rental real estate sector for investors and real estate professionals alike, visit Real Estate Coaching Radio.
Full interview transcript available below:
Announcer: We’re joined today by Don Ganguly, the founder and CEO of HomeUnion, an online real estate investment management firm, specializing in specializing in single-family rental investment properties for the individual investor. Don is an entrepreneur, and expert in the acquisition and management of real estate. Prior to HomeUnion, he also founded Oracle Financial Services, originally Equinox, and Nexgenix, a leading IT services firm. Don has a degree in Engineering from the Indian Institute of Technology, and an MBA from the Wharton School where he’s still a mentor. Don has been recognized for his leadership in the real estate sector: he was the 2015 recipient of the Housingwire Vanguard award, which recognizes executives leading the housing economy. Now, let’s welcome Don to the call as we join our host, Tim Harris.
Harris: Don, thank you very much for carving out some time to be with me and our thousands of listeners. I really appreciate it. The service that you’ve offered at HomeUnion is a really great idea. I heard about it from a CNBC story and I immediately wanted our producers to reach out to you to get you on the show, because I knew it was something that could be very impactful in a very positive way to all of our listeners. So, thank you very much for coming up with the idea, implementing it, and thank you very much for being my cohost today.
Ganguly: Great to be here.
Harris: Let’s just get to it. Let’s tell them what HomeUnion is. And you’ll describe it better than I ever will, so I’ll just shut up and listen.
Ganguly: We’re an online real estate investment management company, and we help retail investors invest out of their own backyards. We do everything from using big data analytics to helping them select the properties that match their financial preferences. We acquire the properties for them, and we renovate it to what we call a HomeUnion Home standard. Think of this like a pre-certified Lexus, which is a good destination for tenants. Once we renovate it, we get it rented, we take care of the property, and we provide reporting that I think hasn’t quite been seen in this industry.
It’s something that investors would find from their Fidelity statements or places like that. We do a wealth management integrative statement. Our investors might have properties in multiple areas, and we consolidate those and provide that intelligence. We even provide equity-style market research. For example, if you’re in Houston, once a quarter you’re going to receive a report on Houston that’s going to tell you whether property values are going up or down. It’ll also go into what’s happening in the macro and micro economy, so you can make a decision about whether to continue in Houston, or buy more, or sell what you have, just as you’d do with your stock or bond portfolio.
The holy grail in real estate is liquidity, which is a way to sell it. We work with local realtors in markets and help you sell that property, however you want to sell it. It’s a full cycle. We have 110 million properties in our database – the entire single-family real estate database, which includes over 20 years of history. We have big data models; we have 200,000 neighborhoods. We rank neighborhoods and properties from an investment standpoint between yield and risk. We calibrate these so that investors can use this same yardstick they use in buying stocks or bonds. For example, you can ask:
“What’s the yield likely to be, what’s the growth likely to be, what’s the risk associated with it…how should I build a portfolio?”
We’ve really taken a playbook out of the stock and bond market, and put it into real estate, which was all about, “Let me buy this property in my backyard because I can’t do anything else.”
Harris: Well let’s drill down for the sake of our listeners, who are primarily boots-on-the-ground agents and brokers. Guys, this is the reason I like HomeUnion specifically. The biggest challenge that all of us have as small investors is finding properties to buy. Right? It’s just a challenge. If you’re in California like where Don is, or if you’re even in Austin where I am, good luck finding a rental property that makes sense. It just doesn’t. It’s very difficult to find unless you go quite a ways out from the center cities, and then you’re dealing with some B or C areas. But the moral of the story is, what he allows you to do, is have an expert’s level view at specific targeted markets around the country that they have identified as being the best-possible rental markets. They’ve done the homework for you. So, I’m thinking of all of you in California, and all the coaching clients in New York City. All the coaching clients in these expensive areas who have never been able to buy real estate or find rental properties because the numbers didn’t work out. And we’ve always told you get out of your own backyard, and then you’re hit with the emotional response of, “How am I going to do it?” and, “Who am I going to trust?”
Well that’s what HomeUnion is positioning themselves to be.
I’ve personally played around with their investment calculators, and you guys should do that. It’s very, very cool how it works. They also have – the thing honestly, Don, that I liked about what you’re doing as far as figuring out the projections. You’ve kept everything really conservative. You weren’t throwing some big ridiculous appreciation into the equation. As a matter of fact, you’re even counseling people not to have appreciation as part of the equation; deciding what to buy, is decided more on cash flow.
So, taking it from that perspective, listeners, you can personally go to HomeUnion.com. And by the way, Don is not paying to be on this radio show, I genuinely like the service he’s offering for you skeptics out there. So, you can go to HomeUnion.com and you can start looking at some of these hot real estate markets for rental properties that make sense for you. And they are a soup-to-nuts thing. They’ll help you get financing, identify properties, they’ll fix up the properties, they’ll lease the properties, they’ll manage the properties, and like you said, I don’t know of anyone else that’s doing it at this level for single-family homes.
These types of services at this level are usually just for hedge funds – the BlackRocks of the world that own thousands of units. For you, yourselves, listeners, I want you to have an open mind about this, that here’s where it really gets exciting. You have customers – I’m sorry Don, let’s just skip to that part where we talk about how agents can directly benefit from working with you – if it’s not just for themselves, it’s for the sake of actually doing transactions. So let’s go to that and tell how agents can do business with you.
Ganguly: Let’s look at two sides, let’s just look at the sell side of it, who have listings. So, one – we have an engine where we’re brokers in all the markets that we’re in, so we have direct access to the MLSs. So, we’re not going out and buying a bunch of distressed properties, and then bidding for them and then bringing them in. Our investors are actually bidding on properties that are on the MLS. We have an underwriting engine that actually pulls the stuff out in the neighborhoods that we like, and then we curate it, and we put it on the platform. And we list the agents who have listed it.
Let’s say you’re an agent in Chicago or Atlanta, or one of our markets, and you have a listed property – a relationship with HomeUnion is actually pretty good, because we’re the buy-side agent. We’re trying to build a relationship with you, where you know that we’re going to bring you many, many, many qualified investors who are not going to bid under the market, nor are we some hedge fund type of a bid. We’ll bid for a fair price, if the market, if the comps actually dictate that that’s the price. And, the difference between us and a homeowner that a realtor in a local market might sell to – we’re the gift that keeps on giving. In that neighborhood, we’ll continue to buy as long as it makes economic sense, and the listing realtors have us as a very good, long-term partner, to be able to sell those listings in that neighborhood.
So part of what we try to do is to build a brand for the listing realtors so that they understand we’re not lowballing them. If they work with us, we can continue to bring them a lot of business for those listings. That’s on the listing side. And also, 80-90 percent of our business is really displaying the MLS way in a curated way on our portal, so this is one other avenue for all those listing realtors out there.
Harris: Just so I understand what you said – again, I’m thinking like an agent here – so if I’m in Chicago, or I’m in Atlanta, and I’ve got properties that I’d like you to consider putting on your portal – because you’re not just scraping the MLS in the local markets and throwing them all up there. I was on your website, and you guys do handpick the properties – you seem to handpick the properties, where their overall numbers make the most sense. So again, if I’m a listing agent and I have properties I want to put up for sale with you guys…let’s close that gap.
Ganguly: You don’t need to do anything. If your property is listed on the MLS, we are brokers, so we have MLS access. If it meets our underwriting guidelines, then that property will be displayed on the HomeUnion portal. And if it fits an investor profile, then we’ll come back to the agent, saying, “Here’s a bid for your property to acquire it at this price.”
And our investors pre-authorize us for certain bid ranges. So, in every market, we’re not going back and forth. We know exactly, from a financial standpoint, what range we can spend based on our recommendation that we buy that property. So the transaction is a very quick one, because once we get investor approval and they sign the documents, we bid on their behalf. We’re then with the listing agent. So, the listing agent doesn’t have to do anything except recognize that we are a serious buyer, and that we will continue to bring more buyers to them.
Harris: Agents will ask these questions, and you’re going to get emails if we don’t answer them now. You have your own agents on the ground that are representing these investors in these individual markets? How does this work? A realtor is going to ask, “How do I become one of your representatives in these particular markets? Do you need any help? How can I get involved?”
That’s what they’re going to ask.
Ganguly: On the buy-side we have our own agents that are HomeUnion employees in these markets, but we’re looking at certain markets where we might create third-party agent relationships that would devote a certain amount of time to us to go do this. Our agents, so you understand, the ones that are HomeUnion employees, they are not just investor-agents that are bringing a lead. They are also responsible for looking at those properties as they come up, and validating the neighborhoods. In many cases, they walk a certain number of the properties which we call “Pre-Select,” so we have more data on them when it comes into the portal. So, they are our eyes and ears and our boots on the ground in that particular market. They validate what the data is telling us, so that’s why we’ve chosen to put them under our employment, because we need them to dedicate their time to fulfill the demand, but also do these other things. As the platform grows in each of these markets, it’s highly possible that we’ll have contractual relationships with agents and then have them do a set of tasks and allow them to earn the fees on the other end. But we’re not quite there yet, but I think that in the near future we could probably get there.
Harris: ReaLoyalty, let’s talk about that.
Ganguly: That’s now on the buy-side of the equation. You just mentioned California and Austin, so if I’m a real estate agent in California, and I just sold my client a $800,000-$900,000 home that they live in, and these are people that are good candidates for an investment property. So what we try to tell the realtors is the same thing that you just said. We say, “Look, instead of trying to sell them an investment home in California that doesn’t really make sense from a yield standpoint, bring them to the platform, and let them deploy that money buying…”
Here’s an example. A $800,000 condo in California rents for $3,500 maybe. That same $800,000 can be leveraged to buy 5 or 6 homes. The total rent could be upwards of $7,000-$8,000. So investor now has deployed the same amount of money, is more diversified, is not dependent on one tenant, and is getting 2-3 times the rent he was getting, and he’s not only dependent on appreciation for growth, which is what California investments are. It’s a dubious sort of proposition.
So, what we try to tell these agents is “If you bring that investor to the platform, we give you a ReaLoyalty code. You earn a referral commission on this investor for whatever they buy, as long as they buy. So, the ReaLoyalty code is attached to that particular realtor that’s bringing in the investor, and it is attached to the particular investor. Anything that investor does, even 2 or 3 years down the line, that realtor will continue to get paid on any of the investments that investor makes.
Harris: That’s really powerful, listeners, I hope you guys got that. He just pieced it together perfectly, but the bottom line is that this is a cool widget that you could be offering to your clients that your competitors won’t know about. And he painted a scenario about a particular buyer, but the reality of it is, and Don, we can talk about your typical customers, but the reality of it is, that there are very few people that wouldn’t benefit from having investment properties. In uncertain times, in times in which there might be inflation…there are very few people that don’t want cash flow from a rental property. You really could have the opportunity to expose your entire center of influence and past client list to HomeUnion, and if they decide to do business, then you’ll get referral fees from that. That’s exciting, and those of you that are creative are already having your wheels turning, and figuring out ways that you can integrate HomeUnion into one of your additional services that you offer, if for the very least the reference, the referral.
If you don’t mind, did you have anything else you wanted to say about that last point, or do you want to pivot and talk about customers, the typical customer?
Ganguly: The one thing I want to say is that often realtors or real estate agents are very attuned to selling in their own patch. What happens, is that when they have that investor that is looking, they try to sell that investor something else in their own patch. By trying to do that, the probability of an investment property somewhat reduced. So this requires a level of thinking to say, “Look, if I brought this investor to HomeUnion, they would probably buy a lot more over time than I could sell them in one home in my own backyard.”
We can pivot to customers from here.
Most of our clients are in expensive areas where they can’t buy in their own backyard. And most of them are what I would call “mass-affluent” people. So they have plenty of capacity, they can do lots of it. But on the other hand, if you saw the CNBC piece that was aired last Friday, they highlighted one of our 24-year-old engineers out of New York City. He’s bought 3 properties. Now this is a good example of someone who lives in New York City, is renting, so this even works for realtors that have helped people rent. He believes in real estate, and he’s out there, building a portfolio, and I wish I’d started doing it at that age. If you can start buying one of these every few years, by the time 20 years pass, all of a sudden you’ve got a portfolio of properties that give you $10,000-$15,000 a month, and you don’t need any of the government incentives or anything else, for you to retire. You’ve got a pretty good cash flow, and it’s pretty diversified, so any non-performance here or there is taken care of by others.
Lots of people at young ages; tech entrepreneurs, people in decent jobs are looking at this and saying, “Can I buy one to two a year, and over a period of time do this?”
And there are people buying from their IRAs. They are retirees looking for income, and that they’re not getting from stocks and bonds today. Then there’s everything in between. There are wealthy people who want to diversify from the market, there are families that don’t want to put all their eggs in the stock market basket. And the other thing is, remember here, if you’re in California or New York, the price to play for a local property is $600,000-$700,000; it’s a pretty big number to get started with for one unit.
Investment properties range from $100,00-$125,000 to $250,000 so it’s a much more manageable chunk. They need $40,000 or so to play. The government, Fannie and Freddie insure loans. You can buy up to 10 properties including your own home, so 9 if you own a home, or 10 otherwise. So you can buy 10 investment properties and juice up that investment with leverage. Nobody is giving you money to go buy Apple stock, so that’s another X factor. That’s why we’ve set up a HomeUnion Lending brokerage arm, because 75%-80% of the customers use leverage, and we want to make it easy for them.
Harris: You said a couple of things I think it’s worth drilling down on. You said it’s important – I’m putting my real estate and broker brain on since I know how these guys are thinking – they’re going to have a high level of comfort in their own real estate markets, and a decreasing level of comfort as soon as they go outside their immediate markets. And what you guys have done, is you’ve done great job of figuring out where the best markets are to invest. And when I say “best,” and I’m putting quotes around that…best is not…and this is important for the California and New York people…best is not taking into consideration one of the prime factors: hypothetical appreciation.
You touched on that a minute ago when talking about California properties as an example. That’s a paradigm shift for a lot of coastal folks who have been riding the appreciation wave for a long time. But the reality of it is that some of the best properties appreciate the least, but they have cash flow.
So, can you talk about that mindset shift? Because you must run into that a lot with trying to get people to wrap their minds around this.
Ganguly: It’s really classic. For example, right now, we’ve got an investor in the Bay Area that owns some properties in San Jose and San Francisco. He happens to own apartments where rents go down in some of these areas because of overbuilding. And when they have that, their feel is that, “I have too much exposure that’s just based on growth, I want to diversify, and get some yield play, and get into some other markets around the country…rather than hold some stuff that I’m waiting for it to double in price at some point.”
It’s a sign actually as to how much affinity people have for real estate. Because living in San Francisco, the person wants to invest in real estate but they don’t have any other easy way to go outside the Bay Area. So they are out investing in their backyard, and all their backyard offers is some potential growth in the coming years, hoping that the Silicon Valley boom continues. And they all realize that that’s somewhat risky to put all their money in. It’s not that the mentality is growth, it’s that mentality becomes growth because the money is on the coasts and a lot of these major cities, and these cities don’t have anything other than growth. So, they are forced to do that as their investment thesis. Now when we come to them, a lot of people say “Gee, I wish I’d known you guys three years ago. I bought these two homes like you said you had in Laguna Beach that are not doing great. I’m upside down on my payment, I hope they go up in price. And I would not have bought this, I would have bought stuff elsewhere.”
I think they get it once they see what is available. For example, people living in California and New York, don’t understand that you can get a $125,000 or $130,000 3-bedroom, 2-bath home in a middle-class neighborhood in Atlanta or Chicago.
Harris: Yeah, they don’t. That right there is stunning to people on the coasts. You know that.
Ganguly: it’s completely stunning. And then the next question is, “Is that like a slum, or what is that?”
Ganguly: And then they look at the pictures, they look at the neighborhoods, they look at this, they look at that, and you know…living in California they think that that must not be a great neighborhood. And those are good neighborhoods with good working class people. Electricians, school teachers, etc., and that’s our country. In fact, the coasts seem to be a little bit of a bubble, and so when they look at that, they say, “Wow, so I can buy four or five of those properties, instead of buying one in my own backyard.”
And that’s really the thesis.
Harris: A lot our coaching clients come to us and they’re trying to decide – these guys are small business owners and entrepreneurs. They’re real estate brokers, but they’re 1099 employees, so they really are entrepreneurs at their heart whether they realize it or not. And one of the things we try to help them focus on is the whole point of having your own business is to create freedom, but to also produce enough net profit so that the profit can be put to work in rental properties. It’s so that the definition of rich becomes one where your money works for you, and you no longer work for your money. This is taking the thinking to another level. Because now, if you’re in one of those markets, where you can’t really find stuff in your own area. Even if maybe it’s a couple of states over, HomeUnion can put you into North Carolina. HomeUnion can put you into Indianapolis, or certain Cleveland market, and Atlanta.
What Don said was very interesting. You want to have a diversified approach just like you do with typical traditional stock market securities with your real estate. You want to have a couple of properties here, a couple properties there. I know, again thinking like agents do, you guys are fearful of that because, “How am I going to manage it…who is going to deal with this, that, and the other?”
HomeUnion does. That’s part of their investment portfolio and prospectus that they send you when you say, “I want to invest this amount of money, this is the return I’m looking for.”
And then they send you a portfolio of properties that they’ve hand-selected for you, and you can go through them and you can start seeing that the numbers make sense. So it’s really a “done-for-you, soup to nuts” thing. As I said, I don’t know if anyone else has done that outside of the services offered to hedge funds.
Ganguly: And I want to say there’s a ton of technology that works there. The difference between this model and walking a bunch of neighborhoods, (because the investor can’t walk the neighborhoods) is building an intelligent asset recommendation engine, which is what we have. So, if the investor gives us their parameters: are they looking for growth, yield, or something in between; what their risk orientation is; how much they want to invest; whether they have preferences of age of house, or certain cities. The recommendation engine actually goes out into our curated inventory and creates a set of automated portfolios for the investors. So if the investor says, “I want to invest $200,000,” there are aa set of portfolios that show up with leverage. If you go to the site, you’ll be able to see it if you register, and you’ll see these portfolios that deploy that $200,000 in a set of properties in different locations. And we have a ton of levers in the back end that allow them to mix and match and choose and put this on their watch list and choose and bid for these properties.
The difference here is that we provide a ton of research on the property and on the neighborhoods. So the one way to de-risk something remote is to have investors come in; they can look at Google Maps, pictures of the property, they can look at a detailed financial profile, they can look at a profile of the renters, where people work, the demographics, if there are Starbucks, hospitals, Walmarts in the area, what are the school districts…
So they can get comfortable much quicker because there’s a compilation of data that’s available. And unlike Zillow, our data is targeted towards investments, not towards home owning. So there’s everything that we provide, and then that’s one of the things we have to sensitize the investors about is, “You’re not going to live in this house. Think of this objectively as an investment. And, a good shelter for a good family that you’re providing because we’re going to make all of these a HomeUnion Home.”
So that’s what gets them over the hump. It’s not us running around saying “isn’t this a nice property in a listing?”
We are not a listing site. We are an investment site. So when the person comes in, we don’t say, “Here’s a shiny property in Chicago, why don’t you buy this?”
It’s much more of, “Who are you? Why do you want to be in real estate? Why do you want to invest? How much do you want to invest? What are your goals? What is your risk orientation? How do you see this progressing over time?”
And then taking those and feeding it into the engine, and properties might come out in Chicago, Atlanta, Raleigh, Charlotte, based on what they’ve said, and what’s available.
We look at neighborhoods that maybe have too many rentals. We would turn that down in our admin engine so that we’re not displaying properties from there, because we don’t want to take too long. So there are little things like that that we do. Or, that some place where we think that the employment is not doing that great right now, or something’s going on, we may turn it down. So there is lots of back end technology that works to curate these real-time for the investors, and that’s what we’ve spent a ton of money and three years doing is building this technology that can take these curated assets and preference-match them to investors.
Harris: Something else is kind of interesting in the equation. If you decide, “You know what, I heard Tim and Don talk about these particular areas, I know a realtor there, I’m going to find a realtor there, I’m going to hunt my own stuff and figure this out on my own.”
The problem you’re going to fall back on in this thinking, is that you’re going to be subject to that particular agents biases which are similar to yours, where they are only going to have a very high level of comfort with certain, particular areas. Whereas if you go to HomeUnion, if you don’t buy in North Carolina, they could care less. You want to buy in Indiana? That’s fine. If you prefer Atlanta, they don’t…
So when you are going through this process, is you’re not having to question the motives of the person who’s on the other side. You understand what I’m talking about. When Julie and I were selling real estate in Ohio, and you said you wanted to buy a rental property, I promise you, I’d have taken you to about three different zip codes because I had properties there, and a high level of comfort of investing in that particular market. But if you wanted to invest in another part of town, and I didn’t know much about it, I probably wasn’t going to show it you….you guys get the concept here?
So this is a nice, interesting way to have a less biased, more professionally filtered view point on different properties. There’s nothing else, and you’re the one with the Wharton MBA, so maybe you can correct me on this, but I don’t know of any other investment that gives you hypothetical appreciation, but depreciation on your taxes and cash flow. And those are the 3 things, that’s the reason when people, when you look at, real estate is almost always the best place to hold wealth long-term, there’s no doubt about that. And when you look at the idea, I love what he said, you can purchase enough properties where eventually your money’s working for you, you don’t have to work for your money, and now you guys have a direct, drilled-down, boots-on-the-ground access to hypothetically some of the best markets in the country.
So in the time that we have remaining, there’s something else I wanted to talk about. We don’t really have enough time to talk about it, but maybe you could summarize it really quick. Why would owning investment properties be a bad idea. If inflation rises, interest rates rise, if all the rest of it rises, walk me through that scenario. The worst case scenario happens in residential, and these guys own a bunch of rental properties; walk me through what their worst case is.
Ganguly: Really, it’s a pretty decent all-weather investment. When interest rates rise, it just means the economy is doing well, there’s full employment, and wages are rising, which means rents rise. If the rents rise, the cap rates improve. The other part about this is if the economy is doing well there are more household formations. The new household formations had gone down for a couple of decades. It’s coming back up. The new households would first tend to rent. So you also have rental demand coming in. Interest rates rise, less people can afford homes, more people want to rent. So it’s actually a better deal for the rental economy.
Now the bad thing is that if for some reason, in certain neighborhoods, certain events occur, then the prices could actually go down. So if you are holding that investment and you want to sell at that time, then you have a problem. Any investment. But most of the people that do this as a long-term hold. They are not flippers. At least, our investors are not flippers. The people that will get hurt are people that are in a particular market, and something happens, some big company pulls out. An example is if Volkswagen were to pull out of Nashville. Then, you’ve got issues. If you have a big company pulling out, all of a sudden home prices drop and things like that happen, and now it takes some time to come back and revitalize. So, that is the major risk.
The other risk is that if you’re financing, and your finance rates rise, and rents don’t rise quickly enough, then you have some cap rate compression in the short term. If you’re buying over the long-haul that should take care of itself.
And the third big risk is obviously that you buy in the wrong areas, and you see a lot of turn overs, you see tenants screwing up properties. You see things like that that could happen, so you’ve got to trust the data, make sure that the history that you’re looking at is fine. Make sure that the tenant underwriting is good, and honestly speaking we’ve made those mistakes early on. We thought a neighborhood was this and it turned out to be that, and we had to dispose of properties for investors and help them out with some of their losses and things of that nature. It’s not an easy business. It took us three years to calibrate and get it to the right point, so getting it right is very important, and that’s where the local realtor is absolutely critical. The local employee, the local realtors are important, because the data is telling you one thing, but is the market really that?
I’ll give you an example. Sometimes you have a great neighborhood, but you have to drive through a not-so-great neighborhood to get to the great neighborhood. It makes it a little more difficult to rent. We now have geo-codes if stuff is close to freeways, if stuff is close to railway lines, if the houses are across from a cemetery. We exclude those because those are a little more difficult to rent, and take longer to rent. Those are all learnings. Older houses in the Northeast and part of the Midwest – pipes freeze. You’ve got to drill down for that and things of that nature. So there are a lot of little things, “gotchas,” things that you can’t learn at business school or anywhere else – things that the school of hard knocks, of the street will teach you. And these are learnings that we’ve incorporated through some hard mistakes that we’ve root-caused and corrected. But those are all those things that investors doing it on their own could have a problem with.
Harris: So the best way for people to connect with HomeUnion is just to go to the website. And it’s very elegant, simple to use, easy to understand. That’s your homework, listeners. I want you to go to the HomeUnion website and check it out. Remember, if you’re not ready to purchase investment properties, definitely have it as part of your real estate treasure map as part of your business plan. But remember, but this is something that you can also use for your potential customers, even folks that aren’t necessarily in investment properties yet. With the right amount of information, chances are they’ll want to be in investment properties, like I said, appreciation, depreciation, and cash flow. It’s kind of a no-brainer. Take action on that. Go to HomeUnion.com. Anything else you’d like to say to these guys as we wrap for today, Don?
Ganguly: This is really a good opportunity for realtors. I just want to say that it just requires a little shift in mindset from “I’m going to sell that investment property in my own backyard.”
And I think real estate agents who get that and who make that mindset shift will see that they can get a much bigger wallet-share of their particular customer, because they’re advocating the right thing for that customer, versus trying to sell the product that they have. And that’s not new, we all try to sell the product that we have, but in this case, all real estate agents have an option to sell this product and make money off of it. It’s just a shift in mindset, so I hope people look at it, understand it, and then reach out to us. We’re happy to help.
Harris: Well, like I said on the show today, Julie and I are logged in, talking to your investment guys, and seeing if we can put together a portfolio that makes sense to us. I am very impressed with how professional it’s been. So, listeners, please follow through. Go to HomeUnion.com, check it out, remember this show, write it down, go back, and when you’re ready to purchase investment properties, a lot of you already have investment properties and are wanting to purchase more. Have a more diversified portfolio, this is maybe the easiest path for you to get there. So Don, on behalf of all of our listeners, I want to thank you for being my cohost today, and I really appreciate it. Thank you for putting this business together, it’s exciting, and we’ll definitely stay connected. I think as your business grows, you’re going to maybe think of some new ways that maybe realtors can be more directly involved. And there’s no smarter folks than our listeners. And I really appreciate it. So, thanks Don for being with us today.
Ganguly: Thanks for having me.