Graham Stephan

So I picked 93703.

It's called the Mayfair District.

I picked single-family homes, so not duplexes, not condos, nothing else.

I picked three or four bedrooms, two-car garage, two bathrooms, one story.

Why is that important?

Because I looked at that criteria and that criteria only every day for three years.

So 99% of the market might as well not have existed.

But by looking at that market, that criteria, every single day and tracking the changes, A, you know what it's worth, and B, you know when you can get a deal.

That's where most people get wrong.

Most people say, hey, I want to buy something, and they're over here, and then they're over here, and then they're over here.

You get no economies of scale.

You don't know if anything's a good value.

You're just guessing.

You're trusting Zillow, of all things.

People today don't want to be disciplined and do the work.

There's certainly a lot of truth in that if you watch consumer behavior.

We do not save money, right?

You get a STEMI check, you spend it.

We actually just had record tax returns.

You guys know the tax returns were up 12%.