096 | Risk vs Rewards of Investing Your HOA Reserves - HOA Insights: Common Sense for Common Areas

Episode Transcript
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Mark Thatcher (00:00):
Obviously, the more money that's in a reserve

(00:02):
account, the more it could beearning. But one of the really
cool things about what weactually build on our software
is we can take any account,regardless of the size, because
what happens is you get advisorsthat get a deluge of too many
accounts, and they can't keeptrack of the maturities. They
can't keep track of everything.
What we did is we built thesoftware not only for obviously,
the community managers for theboard members, but also for the
advisors. So it keeps track ofall the bonds. It keeps track of

(00:23):
when things are coming due. Inthat way we can take care of it
regardless of the size. So we'rehappy to help out anyone that
needs help. And it's reallyfocusing on that reserve account
that may not be, you know,earning you a whole lot of
interest. HOA Insights

Announcer (00:38):
is brought to you by five companies that care about
board members, association,insights and marketplace
Association, reserves,community, financials, Hoa
invest and Kevin Davis,Insurance Services, you'll find
links to their websites andsocial media in the show notes.

Robert Nordlund (00:53):
Welcome back to Hoa, insights, common sense, for
common areas. I'm RobertNordlund, and I'm here today for
episode number 96 with twospecial guest experts in
investment that we heard fromback in episode number 80.
Jessica McConnell and MarkThatcher are both veterans of
the financial services industrywith over 20 years in the
business after being exposed tothe specific needs of community

(01:16):
associations, they created HOAinvest a company designed to
specifically care for and managereserve funds for community
associations that in itself, isa subject that warms my heart,
taking a heavy responsibilityoff the shoulders of managers
and volunteer board members. Youcan find their company at HOA

(01:37):
invest.com we're pleased toannounce that HOA invest has
recently joined our podcast hereas one of our sponsors, helping
us encourage and equip boardmembers all across the country.
Well, we know you're facingfinancial pressures, and we know
the siren song of highinvestment returns is running

(01:57):
around in your brain, so weasked Jessica and Mark back on
the program today to address theissue of risk versus reward.
This is a follow up to episodenumber 95 with Carol Lawrence,
one of our featured bored heroepisodes. And if you missed that
episode or any of our priorepisodes, take a moment after
today's program to listen on ourwebsite, www HOA insights.org or

(02:22):
watch on our YouTube channel,but better yet, subscribe from
any of the major podcastplatforms so you don't miss any
future episodes. Well, those ofyou watching on YouTube can see
the HOA insights mug that I havehere, one of my favorites,
talking about a deterioratedbuilding, and you can get that
from our merch store, which youcan browse through from our HOA

(02:45):
insights.org website, or thelink in the show notes, you'll
find we have some great freestuff there, like board member
zoom backgrounds for your onlinemeetings, and some special items
for sale, like this mug. So goto the merch store, download a
free zoom background, take amoment, look around, find
something that interests you,and if you see a mug that you

(03:07):
like, email me at podcast atreserve study.com with your
name, shipping address and mugchoice, mentioning episode 96
mug giveaway. And if you're the10th person to send me that
email. I'll ship that mug to youfree of charge. We enjoy hearing
from you responding to theissues you're facing at your

(03:27):
association. So if you have ahot topic, a crazy story, or a
question you'd like us toaddress, you can contact us at
805-203-3130, or email us atpodcast at reserve study.com one
of those questions that Ialluded to earlier was actually
from my niece Tricia, who askedwhy they couldn't invest their

(03:49):
reserves in some high performingstocks to earn more interest for
their association. I gave myregular answer, but want to
record a conversation withJessica and mark here on the
program so you could hear fromthe experts. Let's start with
Jessica. What would you havesaid to my niece Tricia? Well, I
think

Jessica McConnell (04:07):
the most important part is to really
understand how a fiduciary likeyourself as a board member or us
as investment advisors, areobligated to be responsible for
other people's money. So whatdoes that mean? So what is a
fiduciary? And that is one ofthe conversations as we're
talking about stocks, and all ofthat for associations is risk,
and most importantly, it'sadding a lot of risk. As a

(04:29):
fiduciary, we're always wantingto act in the best interest of
the community, maintain thattransparency. So what is going
on that accountability? How do Iknow someone's actually
investing the money. What arethey investing into and really,
most importantly, how do weprotect and grow it safely?
Let's

expand that a little bit. Board members faces
challenges with communication.
They are receiving. It feelslike a lot of money from the
homeowners, and the homeownersare always nervous about. What
they're doing, but it may be alittle easier for the board to
point around and say, Hey, wegot a new landscaping company,
and they're finally taking goodcare of the grounds. Don't the

(05:09):
grounds look better than theydid last year? And everyone can
nod their heads and say, Yeah,okay, good. You're taking good
care of my money. Yes, thelandscaper is doing a good job
in the pool. We expanded thepool hours. Cost a little more
money to have a little morehours of pool use, or heating
the pool, whatever it is,sometimes physical things. Board
members have the ability tocommunicate what's happening

(05:30):
with money. But then there's themystery of the money that's in
the bank. Can you really see it?
How do you know? Is it okay? Hasit gone away? Are the board
members putting it in there?
What are we

in? Yeah, what are we in? Are we in
Bitcoin? Are we in gold? Andthat was really one of the
biggest things for ourapplication, Hoa invest, and
working with the boards isoffering that transparency, as
well as ensuring the cash is anidol. More than not, we find a
lot of investments have not beenmade. They've matured. They're
sitting there sometimes three tosix months, sometimes up to a

(06:05):
year. And the reason for thatcould be

doing nothing, doing doing

nothing, and a lot of the times, is getting
to it, getting a board meeting,to meet quorum, not having
somebody that's actuallytracking it. On top of it, the
community managers have a lot ofjobs, right? The board members
are volunteers. So havingsomebody that is like our
company, with our licensedfiduciary advice advisors

(06:29):
actually going in and tellingyou this is coming due before it
matures, what we're recommendingyou do with it before it
matures. And actually havingevery single dollar working for
you is a huge advantage. Yes, wehave board members that are
extremely educated and smart.
They may be a CFO, they could bea CPA, they could be Investment
Advisors like ourselves, buthaving somebody that you can

(06:53):
pass that fiduciary liabilityoff to to ensure that your
community is your community,you're living there, but you're
not responsible to ensure thatthe money is being safe and
handled appropriately is a hugeburden for them, and we take
that on instead of them. I thinkthe number

one problem that you know I always look at the
second law of thermal dynamicsis entropy, where you have order
slowly devolving into chaos. Andwhat happens when you have
entropy into, enter into anytype of system is you could have
something that's really good,for example, like, for example,
you go out there, and last year,we were buying 5.5% T bills with
the tax equivalent yield to 6%in the state of California, and,

(07:32):
you know, 5.85 in Florida, orwhatever the case may be. But as
soon as that T bill comes due,at the end of 12 months, then
what happens? Entropy comes in,and all of a sudden disorder
comes in. You have differentboard members, and you go from
being the very smartest you knowon top of it, CFO, to not that,
you know, an art director, orwhatever the case may be, but it

(07:53):
really isn't on top of thefinances. And nobody steps in
there, and all of a sudden itgoes from 5.5% down to point two
5% and when you have that comein there, all of a sudden you
don't have that compoundingeffect working for you. And so
that's what our software does.
It helps keep track of it. Itkeeps the board in line with
making sure that theirinvestments are always
reinvested. And that's one ofthe biggest problems that we

(08:14):
see, bar none, is you go fromgreat a great investment to no
investment, then

you're having all of the inflation that we've
had for the last couple years,what are you doing if you're
sitting there in cash, you'reactually losing money, and what
does that mean for yourassociation in all of the
assessments and your upcomingdues that we're going to start
looking at our budget? How isthat going to affect you know,
your fellow homeowner sittingright next to you who is maybe

(08:41):
on a fixed income,

right? Okay, I got two things on my brain. I
want to get back to the roleJessica, you led off with
talking about fiduciary I'mthinking you may be lucky. You
may have a manager who is reallya wizard at financial things,
and maybe that's their petstrength, and so they they do a
good job of handling that, butthat would be rare. I would

(09:07):
think, I think most managers areoverworked. They work hard, and
they're not paid all that well.
I've got to praise managers, butthey are distracted, and they're
not who I would think as a classare good financial managers, and
the same with board members. Youmay get lucky, and you may have
someone who thinks in numbers,but that person is going to
cycle off the board. And evenso, really is that person the

(09:29):
right person? Does that personhave any independence? And so
we're talking about the role.
And so do you really want aboard member? Do you really want
a manager assigned with thatresponsibility? I think there
should be gravity pulling youaway, so that someone is

(09:52):
Jessica, like you say, someonehas the job, the responsibility
of taking care of your

money and long term, long term. Community
Planning is what we call that.
And the biggest thing is we asassociate, as advisors. There we
have advisors that are on for avery long time, and if, when
we're not doing the job, let'ssay, God forbid, when we retire.
Obviously we're young, so wehave long time to do that, we're
going to have other advisorsthat are licensed to do that
stepping in our place. So whenwe have board members, those

(10:19):
board turnovers can happen quiteoften. Let's say someone moves,
God forbid someone passes away.
They've been the treasure. Theseare things we have to plan for,
and when you have a professionallike ourselves doing that job,
we're able to continue thatstrategic planning with your
reserve investments. We'relooking at what is, you know,

(10:40):
what is that going to be in 20and 30 years? I can actually
make that response, becausewe're planning that, and we're
going to have somebody in thatseat doing that specified,
specific job to make sure thatthat funding is there for you.
And I think it's

interesting, because you can even look at
like, for example, let's say youdo have a good financial
advisor, and there are a lot ofgood financial advisors out
there. There's no question aboutit. There's a lot of great ones.
But the problem is, is all of asudden you have a financial
advisor that's managing so manydifferent things they don't
really understand necessarily.
You know the 1120, 1120, H HOAs.

(11:14):
And so we really do specializein this space to make sure that
we do have that ability to go inthere 90 days before a CD comes
due or a T bill comes due, we'reputting the notifications out
there. I mean, it was so badwhen, when we started this whole
entire thing, we were like, Youknow what? Let's go out there
and let's just start managingthe HOAs. What software is out
there? There's none that weactually had to build the
software because it was such abig problem within the industry

(11:36):
from even a financial advisorystandpoint, yep. And

then give that access to the board
members, to the communitymanagers, to the controller or
the accounting team at thosemanagement companies. And that
way, they can see it. They canreconcile it on a daily basis.
They're not guessing ifsomething is already approved,
if we have a pending investmentrecommendation that's already
been signed, because mostimportantly, there are states
that have regulations thatrequire signatures for

(12:00):
investments. We're alreadynotifying those management
companies, those controllers,that accounting team, what
instructions are already placedper position. So they're not
going to go and say, Did wealready vote on that? They can
already see it every single day,which is critical.

Yeah. Well, again, I get back to the
physical things. You can seethat the asphalt was sealed. You
can see that they got new patiofurniture. I hope they're
looking at the reserve study,and they know that the roof is
gradually getting older andolder and older, and in a year
or two, there's going to be abig roof project. Those are big
fiscal things, but the managingyour money is something that

(12:35):
happens, if not daily, at leastyou need to be on top of that on
a monthly basis. And there's somany distracting things going on
at community associations,whether you're the manager or
the board, and that's a bigasset that deserves someone's
attention Absolutely. Well, letme You said another thing that I

(12:55):
wanted to catch on. And we allknow there's inflation out
there, and inflation is movingahead and ahead and ahead and
ahead. And that has its work,and I'm now the reserve study
provider on the total value ofthe roof project. And let's say
it's $100,000 roof project. Soevery year the roof is getting a
little more expensive by$100,000 plus inflation plus

(13:21):
inflation compounding. But ifyou only have 50 grand allocated
for the roof, and even if you'regetting strong interest, you're
earning interest only on thecash on deposit. And we have
sometimes treasurers say, Well,if I invest it in low return

(13:43):
safe investments, I'm going tolose ground. And I said you're
going to lose ground anyway,because you're only earning
interest on the actual cash thatyou have in the bank. It's never
going to be a case where you'regoing to keep up with inflation
just by the interest earnings.
So do you have something to addon that? Yeah,

absolutely. So what's really interesting is,
inflation is obviously a reallybad thing. Nobody likes
inflation. Costs go up. But oneof the interesting things about
inflation is, how does the Fedfight inflation? It raises
interest rates. So when you seethe interest rates go up, for
example, you saw a lot ofinflation. We're talking about
getting, you know, last year wewere 5.5% on T bills, which is

(14:24):
the definition of the risk freerate of return. If you look up,
what does risk free rate ofreturn mean? That's a T bill
rate. So if you get a 5.5% rightnow, you're getting right around
5.3% which is, or, I'm sorry,4.3% which is about as

of today's, yeah, last year. Right now it's
about 4.3 on a 12 month.

Okay, so that's that's a

moving target.
It's a moving target. But asinflation moves up, you've got,
you can also get higher interestrates with less risk. Einstein
called compounding interest theeighth wonder of the world, and
he also said, supposedly, nowit's he also said the most
powerful thing in the world is.
Compounding interest. Now thisis Mr. E equals MC squared, so I
don't know. I tried to findthat. No, that was a little bit

(15:05):
dubious. But nonetheless, whatdoes compounding interest mean?
Let's say, for example, you hada million dollars sitting in a
reserve account, and you go outand buy a 5% T bill on that. At
the end of the year, you have$1,050,000 the next year, you
don't have just a milliondollars to invest. You have
$1,050,000 to invest. And thatextra $50,000 now gets to

(15:29):
reinvest. Let's say again, itstayed at 5% and now that 50,000
is earning an extra $2,500 andso it just stacks on itself. And
so no matter what happens, themost important thing you can do
is get rid of the entropy. Yougot to make sure that you go in
there and reinvest that money.
You have to reinvest it at theseinterest rates and let it
continually compound, let itstack. Do what Einstein said,

(15:50):
one of my favorite cheats in theentire financial industry is the
rule of 72 the rule of 72 is abasic mathematical thing where a
lot of financial guys can lookreally smart, and they did math
in their head really quickly.
But what the rule of 72 meansis, in essence, if you go get a

(16:11):
7.2% interest rate, let's sayyou get you make 7.2% interest
on your money over a 10 yearperiod, then your money will
double. So you put in a million,it grows to 2 million, right? So
conversely, if you get 10% onyour money, so if you put in a
million, it only takes 7.2 yearsto double your money. So the
rule of 72 is an easy number oncompounding interest. But the

(16:35):
most important thing that you doon compounding interest is you
have to reinvest. It has toconstantly be reinvested if you
only get 3.6% again, half of 7.2if you get 3.6% on your money
over a 20 year period, right?
And so that's the rule of 72 butit only works if you don't let
your money all of a sudden notbeing reinvested. The most

(16:57):
important thing you can do isreinvest your money. And the way
that we're reinvesting thatmoney is we're doing it in a way
that is actually more safe thanyou know. If you had $3 million
that wasn't FDIC insured,because the limits are only
$250,000 we can spread out andbuy a lot of CDs by 1t bill.
Unfortunately, we have a lot ofgovernment debt out there, but

(17:19):
that government, but we have $38trillion guaranteed by the
federal government where we canget you those interest rates,
and you can't let your moneyjust all of a sudden go to like,
all of a sudden go to zero. Asfar as the interest rates are
concerned, you have to all of asudden be reinvesting, yeah, and

that's reinvesting when that interest
comes in, right? So a lot of thetime, let's say you have
something that pays every sixmonths. It could be a CD, it
could be a Treasury note. Couldbe something like that. We're
immediately taking, let's say ofthat million dollars, we made
50,000 but we got that $25,000in six month increments. That
money is going to workimmediately as it hits the

(17:56):
account. So if you're putting itto work and you're still again,
that a million still working foryou, that compounding number for
six months until that nextpayment comes in, is going to
add up over time. It's criticalto be on top of it every day.

Yeah, you got me thinking of an automobile
race where every once in a whilethey run out of gas, and they
have to pull into pit road andthey stop. They literally stop,
and the other cars are stillgoing around the racetrack, and
they're trying as fast aspossible to get fuel and get
back on the racetrack. And whatyou're talking about is more
like what we see with, I think,military airplanes, where it's

(18:33):
mid air refueling, where they'rekeeping going, they're never
having to pull off and stopwhile other things are moving
around.

That's exactly right. In fact, that's why we
had to actually build thesoftware around it, because of
all the notifications that comein and all the things you have
to do when you're talking aboutother people's money, OPM, when
you're talking about that, youhave to make sure that there's a
lot of notifications. In somecases, there are signatures, and
there's all these differentthings. So what happens is,
you're pulling off into pit row.
If you're a regular financialadvisor, you're waiting for the

(19:02):
next board meeting. You'rewaiting for this. You're waiting
for that. All of a sudden,you're sitting there in cash for
six, 912, months, and you're notinvested, whereas we actually
built the software so that wecan always keep you invested, so
that we can have that eighthwonder of the world compounding
interest working for youcontinually. And so we actually
had to build a system that wouldget as little that would take
the entropy out of the system,so that we can really keep you

(19:25):
invested. Nice.

Well, I think this is a good time to take a
quick break, so let's hear nowfrom one of our generous
sponsors, after which we'll beback for some more common sense
for common areas tired

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and we're back.
Well during the break, we weretalking about the significance
of interest and even one pointof interest how a little bit can
make a big difference. AndJessica, you were telling your
story,

yeah, it was actually we were talking to
Brian, one of your Coloradoassociates who he was talking to
us. And it was every 1% increasein interest income for your
reserve account, it actuallyhelps to ensure about a six to
7% reduction in the future duesfor each Association. And I
believe, you know, from yourside, you guys also did the

(20:48):
analysis, which is where he cameup with that narrative. But for
us, that is really just the ruleof 72 and we were just talking
kind of briefly, amongst us onthe break, is the whole benefit
of that 7.2% being just a littlebit higher is just taking out
all of that of efficiency andall that idle cash and ensuring
that it's always invested asclose to always right as we can

(21:10):
be, but really making sure thatthat additional 1% drastically
improves the reduction inpotential special assessments.
Think

about it mathematically for a second. If
you have a 1% increase that'ssix to 7% future dues that you
don't have to charge. A 2% istwo times six to seven, that's,
you know, 12 to 14% and a 3%increase in interest is
obviously 18 to 21% reduction infuture due increases. So it's a
really big thing, because it's amultiplying effect,

right? And that's a lot of leverage. And
we're talking about our audiencehere as board members, and they
are hard at work. They're busy.
They're already essentiallyalmost overwhelmed with enough
projects. And we're talkingabout something really good
here. Do we have some triggerpoints, some things that we can
give them as homework to see ifit is time for them to think
that, yeah, maybe I shouldoffload this to an investment

(22:02):
professional. Any any goodhomework points? Yeah,

I mean one being, you know, if you're
approaching that FDIC limit. Sothere are programs available,
right? So we want to stay under$250,000 what does that mean?
That's not just on your reserveaccount. I want to make that
clear. So let's say you have anoperating account and a reserve
account at one bank, you have tobe under that $250,000 threshold

(22:28):
on both accounts combined. Somaking sure that you're looking
at all of your financials, notjust one side of the balance
sheet, also making sure that ifyou do go over that threshold,
what can you do for an option?
We work with a lot of banks. Wehave great relationships,
collaborating with the banks,and what we do is kind of take
that excess reserve money thatthey're going to not need in the
next, I'd say, six months to ayear, and put it to work with us

(22:51):
for CDs and treasuries, and havethat functionality of being able
to move it via ACH back andforth from our Schwab account,
which is where we custodian,with our preferred custodian,
move that money back and forthseamlessly. So when you do have
a project coming up, you're onemaking sure your money is
insured and working, but alsoyou're not going to exceed that

(23:11):
threshold at the banking side.
And

it's also important to keep in mind one of
the other things you can do,just about safety, not
necessarily interest rates, isthere's something called an ICS
account at the banks. And banksare awesome. We absolutely love
the banks. The banks are such animportant integral part of
everything that we do. But askabout an ICS account, because if
you do go over the 250,000 theydo have options where, if you're

(23:35):
it's in an operating account. Wedon't, we don't really want to
mess with any operating accountsor anything like that. The day
to day spending. There's no onebetter than the banks that
taking care of that. But askabout an ICS account if you do
have to go over the 250,000 sothat you so that your HOA can
continue to be insured. Okay?

And I know there's going to be a lot of
treasurers out here and boardmembers who are wondering, what
ballpark are we in? I feel likeI want to assign them the task
of at the next board meeting,find out how much interest they
are earning, and if they'reearning what, what would be a
good commercial range at thispoint in time. So

right now, the risk free rate of return on T
bills is 4.2% and it's 4.2 4.3%right around there for a one
year T bill. Now, keep in mindwe had this conversation last
time about T bills. T billsversus CDs. T bills, you don't
pay any state income tax on it.
So in the state of California,for example, that's a 4.7% tax
equivalent yield. So really, ifyou're looking at it, what our

(24:33):
software does is we go in thereand before we ever purchase
about 60% of the time, CDs arebetter for us to purchase on our
Schwab platform than T billsright now. T bills have been
better. T bills have been betterfor the past 18 months because
the variability in interestrates. So if you're not earning,
you know, 4.7% if it's a CD, or4.2% if it's if it's a T bill,

(24:54):
then then you could be doingbetter.

I got it so if you're if you find out that
you're earning well 0% on yourchecking and 1.5% in your
reserves account, then youshould be thinking, we are
almost in pit row. We we can doa whole lot better than this.
How significant is that on aliterally cash basis. We have

(25:22):
some of our audience here whoare small associations, and they
have a reserve fund that is$52,000 is it as significant for
them as it is for an associationwith 520 or 5.2 million?
Obviously,

the more money that's in a reserve account, the
more it could be earning. Butone of the really cool things
about what we actually build onour software is we can take any
account, regardless of the size,because what happens is you get
advisors that get a deluge oftoo many accounts, and they
can't keep track of thematurities. They can't keep
track of everything. What we didis we built the software not
only for, obviously thecommunity managers, for the

(25:58):
board members, but also for theadvisors. So it keeps track of
all the bonds. It keeps track ofwhen things are coming due. In
that way we can take care of itregardless of the size. So we're
happy to help out anyone thatneeds help. And it's really
focusing on that reserve accountthat may not be, you know,
earning you a whole lot ofinterest, yeah,

because that goes back to that conversation,
that one extra percent is goingto reduce those dues for that
community six to 7% year overyear now.

Well, if you have a choice of getting some
help from the bank to payreserves or not, I would say,
Yeah, let's have the bank paysome of our reserves. I started
thinking for that associationwith only 50 some $1,000 in the
bank. Well, the roof project mayonly be 25,000 you know,
everything is scaled down. Soif, if they're only earning $500

(26:47):
instead of $5,000 in interest,well, that's fine, because their
expenses are proportionatelyless. But still, you want to get
on the race track and startgetting interest, earning as
much as you can, as long as youcan, and not sitting on pit row
all those kinds of things. Sothe triggers if your reserves

(27:08):
are earning something low, 0123,maybe you should start thinking
about an investmentprofessional. If your combined
checking and reserves are at orabove 250,000 time to start
thinking about an investmentprofessional. But again, I have
a heart for our board memberaudience. They are hard working

(27:29):
volunteers, and the last thingthey need is people asking and
wondering, are you taking careof our X amount of dollars in
reserves? It's hard to point atlike the swimming pool or the
asphalt or the new paint or thelandscaping. And maybe one nice
thing to be able to say, we gotsomeone on that, I think that's

absolutely true.
I think what's really neat aboutit is like, Take, for example,
just the word fiduciary, ifyou're if you're a board member,
you are a fiduciary to thatboard, and all of a sudden,
you're a fiduciary in so manydifferent areas, and no one's
really paying attention to thefinancial side, or if they are,
they may be cycling out. Andthere's a new one that comes in
there. One of the things aboutfiduciary that you have to
remember is it's not only justdoing what's best, it's also the
fiduciary liability of not doingwhat was best. And so when you

(28:11):
talk about the fiduciary gettingit wrong, and so we are actually
fiduciaries, you can offloadthat fiduciary care on the
investment side to us, we willcall ourselves fiduciaries.
We're more than just brokerdealers, and so as a fiduciary,
we come in and we take theliability and say, Yes, we are
going to invest in the highest,safest yield, whether it's a CD

(28:32):
or a T bill, we're going to makesure that it's reinvested for
you. And whatever happens if allof a sudden, you know, your
treasurer gets sick and he's inthe hospital, it's someone is
still taking care of it,someone's paying attention to
it, someone's doing taxequivalent yield to see what is
better, CDs or T bills.
Someone's taking care of it 90days in advance. And so that's

(28:52):
what we really do offer in ourservices and in making sure that
we don't see on pit road. I lovethat analogy. You don't just
pull off and gas up for the nextsix months and then lose that
ability and that compoundingeffect and the eighth wonder the
world is not working for you.

Well, Jessica and Mark, I look at the time and
I want to thank you for joiningus today. It's always great to
have your insights and yourexpertise, any closing thoughts
to add at this time. I

really just think most importantly is that
sometimes we have those boardmembers that they know they're
fiduciaries and they like to beinvolved. We love working with
you too directly so you areeducated. We understand that we
respect that you're doing thisas a volunteer. We want to make
sure that you feel included. Soplease, just knowing, having
that outsource ability, comingto us, working with us, we're

(29:40):
all doing it together to makethese communities better. And
the

last thing I'd say is we would love to talk to
you directly so on. If you havean executive board meeting and
you'd like us to do apresentation and actually do the
analysis for you, we will 100%do the analysis. We will show
you exactly where you're at.
We'll show we'll do thecomparison for you and say,
Okay, here's your currentinterest rate. Here's what. The
market rates are. So if you giveus an opportunity to be on a
board meeting, we're happy tojump on a zoom call. We're

(30:05):
definitely set up for lots ofzoom calls. As you can see, we'd
love to, you know, take 10minutes an executive board
meeting and show you how we canpossibly help you. Well, Mark,

I was gonna say that's a pretty bold move,
because we have, we have a lotof listeners in this audience,
so they may take you up on that,but we

have 25 financial advisors that are directly can
help every single one of youdirectly and run the analysis.
So we're fantastic,

good, good, good. I'm glad to hear it's more
than just you and Jessica,because I'm talking 1000s here.
Yeah, okay, well, if you'd liketo get in touch with anyone at
HOA invest, and indeed, morethan just mark and Jessica, you
can get in contact via theirwebsite, which is HOA invest.com
Well, we hope you learned someHOA insights from our discussion
today that helps you bringcommon sense to your common

(30:55):
area. We look forward to havingyou join us for another great
episode next week. You

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about the Community Associationindustry. You'll want to consult
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096 | Risk vs Rewards of Investing Your HOA Reserves

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.css-14f5ked{margin:0;word-break:break-word;display:-webkit-box;-webkit-box-orient:vertical;box-orient:vertical;-webkit-line-clamp:2;overflow:hidden;}096 | Risk vs Rewards of Investing Your HOA Reserves