Welcome to Passive Real Estate Investing. I'm your host Marco Santarelli, and we have an exciting episode today. Why? Because we've been watching mortgage rates go up and guess what? They keep going up and they haven't really come back down. So wouldn't it be nice to be able to get mortgage rates that were around 6% or maybe five and a half percent or even lower? Well, I know you want that because it just adds to the cash flow of the property and it just makes it more attractive. Yet we got spoiled at 3%. And then, you know, we had that for a long, long time. And markets change. You know, real estate is like a pendulum. It swings one way, then it swings the other inventory goes up and inventory goes down, mortgage rates go up, mortgage rates goes down. Things are constantly changing. And so the only constant is change.

 But I have something pretty exciting for you here today and I have a great, great guest, a friend of mine and one of our multi-city builders. He was telling me about some very special mortgage financing that he was able to put together and negotiate for the product line that they build in multiple markets in Florida. And I thought, wow, that's great. Not only is Florida a great, great state to invest in and he has incredible product, but what if you were able to attach about a 5.5% mortgage rate on that, which is about 3% lower than what you would get if you just went to just any lender today and got what I'll just call the regular financing. So let's talk about that today.

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If you missed our last episode, be sure to listen to When are mortgage rates too high?

So first of all, let me welcome Jim to the show. Jim, welcome back.

Oh, thanks for having me again, Marco. Good to be back.

Great to have you back. Now, for those people who don't know, Jim actually used to live here in the great state of California and now he's living in the great state of Florida . And I think it was a brilliant, brilliant move 'cause you moved out at a time where you were able to cash out and take your equity and leverage it and multiply it in Florida, which was exploding and still is from a population perspective and growth perspective. Do you wanna comment on your decision to move and then what has been going on in general terms in Florida?       

California's beautiful. I, I, no one can deny that, but I don't miss paying 13.5% state income tax. And I also, Marco, I'm an old fashioned guy where if I have a good rental property in good condition, I don't want to have trouble collecting my rents. So I like to go where there's really favorable landlord laws and Florida has those. So I like to visit California, but my investments are in Florida.

Yeah, very cool. Well you made a great decision. There's just a lot of great markets within Florida, all that are growing. Strong job growth, population growth, favorable tax climate, favorable business climate. That's why so many investors focus on investing in Florida. And you know, I am too. I mean I'm working on a 36 unit project right now in southwest Florida and we're very excited about that. So there's just a lot of good stuff going on. So let's start off with, I think one of the most appealing things, and it's what you were talking to me about before and that is the incredible mortgage rates available that you've lined up that can be leveraged or used in acquiring the single family homes that you guys build, the duplexes that you build, the quads or fourplexes that you're building in multiple markets throughout Florida. So before we, you know, focus on those markets and why we should be investing there, talk about this interesting, unique and attractive financing that's lined up and how it works. So investors are very clear on what the potential is for it.

Yeah. You know, working now 10 years together with the neurotic clients, you're always coming to us with saying, here's the concern,