patrick.net

GNL says

They, whoever "they" are, want everyone to have less. The entire green agenda is about getting people to use less. Ideally, they want no one to own anything while they assure you that you will be happy. Look at the EV push. How many people are ever going to be able to purchase an EV? More and more people will fall down the economic ladder. What are you going to do with all of these people? The money to satiate them will come from those who own everything. That means lots of taxes and maybe even confiscations. It is my belief that that is where we are heading. Maybe it gets turned around but, I really do not think so. Housing, imo, will show us in that inventory will NEVER be high enough from this point forward.

Interesting theory. I’m not smart enough to understand all of this stuff. However, based on history, less people will own more while the majority will own/have less. You can call it the 1%ers and the 99ers, or 0.1%ers and 99.9%ers. To give yourself and your family/future generations a fighting chance, figure out how to become the 1%er or 0.1%er.

Bitcoiner says

https://www.redfin.com/city/16904/CA/San-Diego/housing-market

Days on market are nowhere near 120days currently. Inventory is historic low. Nuttboxer said that’s BS. So I want to understand why he is saying that.

Maybe people take their houses off the market after 3 months of not getting any reasonable offers.

I'd like to see the median and average price, especially for per square footage by zip code and by home type (condo, townhome, detached home,etc.) as well as lot size.

I'd compare that price data to median household income for that zip code.

.

GNL says

They, whoever "they" are, want everyone to have less. The entire green agenda is about getting people to use less. Ideally, they want no one to own anything while they assure you that you will be happy. Look at the EV push. How many people are ever going to be able to purchase an EV? More and more people will fall down the economic ladder. What are you going to do with all of these people? The money to satiate them will come from those who own everything. That means lots of taxes and maybe even confiscations. It is my belief that that is where we are heading. Maybe it gets turned around but, I really do not think so. Housing, imo, will show us in that inventory will NEVER be high enough from this point forward.

The goal is "equality for the masses" which means the bottom 90%. Its egalitarian with the Woke religion as the amusement or distraction (i.e., Woke theater or "bread and circus").

Cloward Piven Strategy (with tactics like open border and H1B visas) is one means they use to achieve this.

.

Eman says

figure out how to become the 1%er or 0.1%er.

That's like setting a goal for becoming president...anyone "can" become president but, not "everyone" can. It is in everyone's best interest to have a huge middle class. Without it, we become a third world country. I admit that I am a bit of a doomer. Think about how insane things are now. Listen to the things they are telling you/us. Look what they did to Trump without any repercussions whatsoever.

@Eman

If you are a rich guy cruising on passive income, get the fuck out of dodge. Get yourself a nice little vanity farm with goats, chickens and a potato and tomato garden.

Bitcoiner says

Absolutely, if sellers can’t get close to asking and are not forced to sell they take it off the market. You can easily test it yourself. Send out some low ball offers. I did (in the phoenix area). Nobody accepted. My investor buddy is doing the same right now. Wants a deal but no takers. Median household income / affordability has no impact to the market I believe. Especially not measured by median Forced selling and significant increases in inventory impacts price. You can’t have a price crash with historic low inventory. Which city is close to you?

What are your thoughts on the forbearance ending with Covid?

Bitcoiner says

Send out some low ball offers. I did (in the phoenix area). Nobody accepted.

Back in 2009 there were a lot of subprime mortgages and unqualified or delinquent home owners.

Now you have qualified home owners sitting on mortgages that average a 3.5% rate.

There is no motivation incentive for them to sell. And there is no panic as well.

.

Bitcoiner says

That was a big hope for the forbearance crash bros (remember “foreclosure tsunami”). Today, Out of all mortgages less than 1% are in forbearance

https://www.calculatedriskblog.com/2023/05/mba-survey-share-of-mortgage-loans-in.html?m=1

What do you think about it?

Its still a very tight labor market. Not like back in 2007 - 2010.

https://hbr.org/2023/02/is-the-tight-labor-market-due-to-fewer-workers-or-fewer-hours-worked

If labor market severely worsens, then there may be more risk of fire sales and foreclosures.
.

1337irr says

What are your thoughts on the forbearance ending with Covid?

Are you talking mortgages or renters not being kicked out for not paying during covid?

For mortgages they aren't going to foreclose. As long as lenders can show they have a performing asset they will, as long as it's legal. The cost of a foreclosure to a bank is exponentially a bigger loser than trying to work something out. A solid 5-7 years this was my work life.

Taxes
Insurance
Maintenance (banks are not in this business)
BPO's
Appraisals
Attorney fees (probably in house, but still a salary)
Additional accounting fees
REO 3rd party fees
Commission on the eventual sale
Loss of principle being paid
Loss of interest

This could be $30k/yr on even a cheap house ($150k). Banks/lenders learned this in the housing crash. Given the previous low interest rates and even now they're not that high historically, just the most in our lifetimes as homeowners, there is not reason to foreclose. Remember amortization as well. Banks are paid up front basically. so throwing a couple months on the back end is cheaper than foreclosure. 2006 they just knew the people couldn't pay because of shit lending standards. We're not there.

Banks need to lend to make money, so the recent bank failures are of concern. But looking at the market they're in, I think there are other mitigating factors that don't include housing at all. Coastal areas, especially CA would scare me a bit. And big cities. Crime, homelessness, filth, etc. WILL push people out of these urban areas and already are. Millennials are having kids and they are hover parents. They won't want to raise their kids in that. That is the weak spot in the market in my opinion. And cities suck. Not a crash though either.

But big coastal cities are losing a few big whales going to income tax free states. Think Joe Rogan at 13% or 12.9999% on his spotify contract living in TX versus CA. That's one rich individual, as an influencer essentially, taking millions and millions of tax dollars out of the states. The money is moving out, hence why I don't see most of your guys' situation getting any better. Wealthy people will cut and run and come back to visit. Airports do exist.

As far as covid renters being allowed to not pay during peak pandemic, I don't know anything about what that would do to rents and landlords. It's going to take a decade to unwind covid either way. It took about 7 years in my estimation to get back to some normalcy after the housing bust. I started RE in 2005 for perspective. So a good chunk of my adult working life was during that.

Not to turn it political, but this is why Biden needs to be out of office. We are going to NEED energy prices to come down in a big way as we bring back manufacturing. China is toast and we need manufacturing and are bringing it back, slowly. Even Biden. We can do green energy in conjunction with drilling and more fracking. Fuel, gas and electric to produce HAVE to come down or prices will skyrocket for goods as they already are.

We're only year 2.5 into this. We have another 7. I don't think housing will have an issue for now. Cost of living needs to go down on goods since China is lacking and dying and has no younger people to fill the void. We still have some help from other Asian companies, but their labor costs are higher and we still have to ship it across a massive ocean. We're nearing the point where it's cheaper to make it here I think as China crashes.

There Goes the Housing Market: Job Losses SPIKE Credit Pulled and New Zillow Data Worse Than Thought.

https://www.youtube.com/watch?v=fQd5DTmOlds

Al_Sharpton_for_President says

New Zillow Data

You lost me there man. I'd trust Biden's take on housing before zillow or even the tranny Bud Light thing spouting off real estate stats.

We need a TON of job losses for it to effect housing. 60%(ish) or so even own houses. More than you'd think are paid off in the older demo, so no mortgage. Most are low interest so grab a job at McDonalds and pay for the house.

I don't think people realize how thin things are job market wise as far as needing people. We're on the precipice of not being able to deliver USPS mail because they don't have enough people. Anyone can make $50k/yr running around in a car, jamming out to tunes, probably get high and make money. Shit they can get a federal pension and medical care.

I know I've been shitting on CA pretty hard lately, but this is a CA problem from my perspective. As a stand alone they'd be the 5th largest GDP country on the planet. Yes if it goes south that damages the rest of the country, but only to an extent. We're seeing a CA problem, not a national problem overall. This is like Greece or Spain in the Eurozone. Important economies, but it's not the downfall of the US.

Not going to do it again, but get Uhaul rates from SFBA to Boise, ID and then the reverse. Or Phoenix. Shit, I'll just do it again. See attached. You guys are fucked in CA.

WookieMan says

You lost me there man

RJ Talks is, for my money, one of the best economics bloggers around. He triangulates lots of data and reports to formulate a view of where things are going. And thankfully, he lacks the unnecessary affectation schtick that many of the bloggers use. E.g., Manic doomster - Reventure Consulting, obsequiousness preener - Real Estate Mindset.

The screenshot describes the uptick in unemployment payment direct deposits, as reported by Bank of America. I suppose the laid off Facebook programmer could get a job stacking produce in the local Safeway, but that won’t pay the mortgage.

GNL says

Eman

If you are a rich guy cruising on passive income, get the fuck out of dodge. Get yourself a nice little vanity farm with goats, chickens and a potato and tomato garden

Don't forget the mini cows!

https://www.texasmonthly.com/travel/miniature-cattle/

Eman says

How does one rise to the top of their preferred client list?

Reputation is paramount in any biz. Agents/brokers don’t get paid until the deal is closed. They’re essentially working for you, as a buyer, for free. That’s how I view it regardless of what others on this website think.

When we first started out, we called all the listing agents in our farm and asked them out for lunch. Do your homework so you can talk intelligently. Ask them why certain deals went down at such great prices while ot (some text omitted to shorten quote...) nt of them often so they remember you. Whoever brings you a deal, they own that listing for life. Unwritten rules in commercial real estate.

Do what you say you’re going to do. Keep your promise. Be reasonable. Don’t be a pain in the rear to work with so whenever they have a deal, they will remember who to call first, and who will close the deal without being a pain in the rear. They don’t get paid unless the deal is closed. A bird in hand is worth more than 2 in the bush. Be that bird in hand.

This is killer advice you don't see too often.

WookieMan says

Banks are paid up front basically. so throwing a couple months on the back end is cheaper than foreclosure.

This combined with the new 40 year mortgage may be how everyone becomes a renter to the banks. Adding on to the backend of the mortgage steals(?) equity (well, the borrower actually spent the equity via having no $$(?) to pay the mortgage at the time).

just_passing_through says

Eman says

How does one rise to the top of their preferred client list?

Reputation is paramount in any biz. Agents/brokers don’t get paid until the deal is closed. They’re essentially working for you, as a buyer, for free. That’s how I view it regardless of what others on this website think.

When we first started out, we called all the listing agents in our farm and asked them out for lunch. Do your homework so you can talk intelligently. Ask them why certain deals went down at such great pric (some text omitted to shorten quote...) ings you a deal, they own that listing for life. Unwritten rules in commercial real estate.

Do what you say you’re going to do. Keep your promise. Be reasonable. Don’t be a pain in the rear to work with so whenever they have a deal, they will remember who to call first, and who will close the deal without being a pain in the rear. They don’t get paid unless the deal is closed. A bird in hand is worth more than 2 in the bush. Be that bird in hand.

This is killer advice you don't see too often.

He didn't mention the capitol requirements though. :)

WookieMan says

Banks are paid up front basically. so throwing a couple months on the back end is cheaper than foreclosure.

Lenders are doing the same thing with delinquent auto loans as well.

GNL says

He didn't mention the capitol requirements though. :)

True but that's a lot more than I know...

Bitcoiner says

NuttBoxer says

Bitcoiner says

Short answer: historic low inventory.

Except this bullshit, and always has been.

Wait what?! Are you saying you believe active listings don’t matter or are you saying you don’t believe the stats?

Yes to both. I'm sure you learned about vested interest and validating sources in college right? If you pull all your data from an industry that lies in order to perpetually keep people buying and selling, you are deceived. If that industry is further part of a leveraging system built around greed and inflation, you will be completely lost.

My real world experience cuts through all that. I have lived in a "hot market" for over 20 years. During that time, I have moved on average every few years(some kind of wanderer disease, not recommended). I have always paid below market despite moving all the time in an area where inventory is supposed to be low. So am I just the luckiest fucking renter in Socal? Not impossible, but highly improbable.

ad says

Maybe people take their houses off the market after 3 months of not getting any reasonable offers.

Not may, they do. I see that a lot. And a pretty obvious ploy if you aren't so caught up in your narrative, you fail to exercise even the smallest amount of scrutiny.

Eman says

Interesting theory. I’m not smart enough to understand all of this stuff. However, based on history, less people will own more while the majority will own/have less. You can call it the 1%ers and the 99ers, or 0.1%ers and 99.9%ers. To give yourself and your family/future generations a fighting chance, figure out how to become the 1%er or 0.1%er.

Only true during centralization, which is dying in front of our eyes. We are moving back towards decentralization where the community and the individual will again become the seat of power.

NuttBoxer says

Eman says

Interesting theory. I’m not smart enough to understand all of this stuff. However, based on history, less people will own more while the majority will own/have less. You can call it the 1%ers and the 99ers, or 0.1%ers and 99.9%ers. To give yourself and your family/future generations a fighting chance, figure out how to become the 1%er or 0.1%er.

Only true during centralization, which is dying in front of our eyes. We are moving back towards decentralization where the community and the individual will again become the seat of power.

I hope you are correct.

WookieMan says

You lost me there man. I'd trust Biden's take on housing before zillow or even the tranny Bud Light thing spouting off real estate stats.

We need a TON of job losses for it to effect housing. 60%(ish) or so even own houses. More than you'd think are paid off in the older demo, so no mortgage. Most are low interest so grab a job at McDonalds and pay for the house.

I don't think people realize how thin things are job market wise as far as needing people. We're (some text omitted to shorten quote...) all. This is like Greece or Spain in the Eurozone. Important economies, but it's not the downfall of the US.

Not going to do it again, but get Uhaul rates from SFBA to Boise, ID and then the reverse. Or Phoenix. Shit, I'll just do it again. See attached. You guys are fucked in CA.

So fucking true. U-haul rental rates are where the rubber meets the road. It cost me 1/4 to move from TX to NY as opposed to the inverse.

Our current system is inherently unfair. Yes, I said unfair. The creation of money has been monopolized.

https://www.lewrockwell.com/2023/05/michael-snyder/the-middle-class-is-being-systematically-destroyed/

Over time, our capitalist economy has steadily evolved into a system where almost all of the wealth and almost all of the power are concentrated in the hands of giant institutions.

Collectively, big government and big corporations run virtually everything, and this system of “corporate socialism” funnels tremendous amount of wealth into the pockets of a very small minority of the population.

If you are in that club, life is good.

But if you are not in that club, life can be a struggle.

NuttBoxer says

Yes to both. I'm sure you learned about vested interest and validating sources in college right?

As shitty as brokers are, you do know they get fined if they fuck around with data, right? We were fined at least a dozen times. Most by user/entry error into the MLS.

It's not huge, but there's little incentive to put shit data in. Games were played if I'm being honest because the third party sites had the feed to the MLS and would sort shit differently. We literally would do $1 price cuts so the IDX would put listings at the top because of a price reduction on Zillow and the likes. My boss would get shit from our board and we had a form signed by the seller to approve $1 price cuts up to a certain amount. The site shows price cut but it was only $1 and it's at the top of the feed again. Not sure that works anymore.

Everyone's stats are shit basically is what I'm saying. Everyone in the industry lies. 100%. It wasn't me personally, but lies were made about closing prices. Rental data is even easier to manipulate in an area. My boss would manipulate the rental comps to raise section 8 payouts. It increased the net by $6k/mo before I left.

I'd guess 30-40% of all real estate data is manipulated in some way from real world experience. Rental data is no different. There's really no central source for data on it because no one, generally uses a Realtor to post rentals. Rentals are probably the worst dataset in real estate.

stereotomy says

So fucking true. U-haul rental rates are where the rubber meets the road. It cost me 1/4 to move from TX to NY as opposed to the inverse.

CA is fucked. This is a shit hole to shit hole rate by me. Chicago to St. Louis and the reverse. I'm lazy but Uhaul seaching is kind of fun. Basically what this tells me is that people moving in these regions is pretty flat. My CA comment with Uhaul shows me the state is fucked. Mind you these are likely common middle class people that can't afford a massive semi to move their shit.

Y'all are losing middle class folks on top of the wealthy. It's not looking good. Nutt, you're probably smart to go to Yuma.





*Yes I know the rates are based on distance/milage. It's the difference between inbound and outbound. It's the same trip. Talking damn near 50% extra to get out of CA.

Bitcoiner says

By the way, even if unemployment increases dramatically, what are you basing the lower home prices assumption on? It depends on which sector is being impacted. If low wage jobs are impacted for instance then how is that related to home prices?

A few suggestions:

1. Read before you post. As the RJ Talks video describes, and as the screenshot clearly states, "Unemployment appears to have risen faster in the higher-income group.” I recommend checking out the video.

2. It is helpful, as many have suggested, to post links to your sources. If the source is the BLS, the data is worthless as a reliable reporter of where things are now. Even during the financial fraud crash, the BLS was reporting rosy unemployment data, whilst other sources were more accurately reporting reality, only for the BLS to later issue revisions more in line with reality.

Bitcoiner says

Regarding your last comment. You said you are moving to AZ (Yuma) because you get a better deal there to rent a larger place. So no, I would not call you the luckiest renter in SoCal ;).

So someone lives somewhere 20 years, but gets ready to move and suddenly they aren't from that place anymore? I don't anyone who thinks like that. Patrick could move to Ireland tomorrow, he's still Bay Area.
Let me try and help follow the economic theory you're proposing. Lack of supply drives up prices right? On some rentals? NOOO, on all rentals. So if at least 10 times the same person moves in an area with "low supply", and always fines cheap rentals, when they want, where they want, only two possibilities. They are the luckiest renter who just happens to run across dumb-ass landlords who rather than wanting to make money, want to cut their margins to the bone for that renter, or there's plenty of fucking inventory, and landlords have to be competitive to snatch up the good renters.

You ain't got much comeback for a while now, because you can't refute real life. I don't live inside four RE stats articles, I live inside four walls. But your articles are all unbiased right? Tell me does the MBA benefit from high forbearance rates? If people can't afford to pay their loans, is that in their best interest to advertise they might not get their money back? I would have to guess no. Now the dude who writes for zerohedge. What's his financial incentive? Get a few more clicks? Not from you or people like you right? You pretend that shit don't exist. So well I can see some financial incentive on one side, it's not even, at all.
And what about me? What am I getting from sharing my story? I got no skin in the game like you, I gain nothing by lying to myself or anyone else. And truth is neither do you. But if you so invested, like those cats at MBA, that the kind of crash coming would wipe out a significant chunk of change, well... I can see a man not wanting to face that reality.

But you can't pretend this shit away anymore than you could 15 years ago, and everyone here knows it.

Bitcoiner says

Huh? My point is: unemployment is historic low.

I try to look at where things may be heading and why. Banks have tightened up lending. This is a debt-fueled economy. Powell has said he wants to bring RE prices back to normal levels and increase unemployment to get inflation under control.

RE has been in a recent unsustainable bubble fueled by toxically low interest rates and free money from the sky by our dimwitted leaders on both sides of the aisle, in response to the shutdown of the economy, an ill-advised and murderous non-scientific knee-jerk reaction to the fake scamdemic. It cannot endure, and in the current rate rising and credit tightening environment, likely will not.

Q2 2020 median home price: $322,600
Q4 2022 median home price: $479,500

That is roughly an appreciation of 30% per year. An aberration caused by poor policies enacted by incompetent leaders.

Bitcoiner says

Huh? My point is: unemployment is historic low. Do you disagree that the unemployment rate is 3.4%?

Now you're just straight lying, and I don't feel bad saying that. I don't even think the government rates are that low anymore. Fuck all the people who never found work and fell of that list right? Fuck everyone having to work two jobs to make ends meet. Fuck all the open positions being for wages so low, no one can live on those jobs.

I've watched blue collar neighborhoods I used to live in fall down for years. I see the record homeless when I go downtown. I talk to my brother-in-law who had to shut down his US residence and live full time in TJ because he can't get that OT anymore. And I wasn't even a bit surprised when Trump won in 2016 because I know who voted for him, how long they've been pushed down, and how pissed off they are. And I've watched for years and years and people have shaken the dust of California from their heels leaving for better markets everywhere else.

You wanna look at stats, look up this one. How much of the rent portfolio in San Diego county is made up of government money? Section 8 pays up to $4k a month now in some areas, higher I think. Filter out all the zero down programs, all the USDA and FHA money. All them new home buyer and county loans, and the military shit. And tell me how much real wealth is actually floating around. And then think about this. If California already blew through $30,000,000 in surplus in one year, and their tax base is still fleeing, what kind of future do your real estate have?

NuttBoxer says

Section 8 pays up to $4k a month now in some areas, higher I think.

Holy shit.

Bitcoiner says

Do you agree the rate is 3.4% or is it much higher in your opinion?

Well, here is the official BLS data: https://www.bls.gov/opub/ted/2023/unemployment-rate-3-4-percent-in-april-2023.htm

Whether or not it represents reality, especially in this regime of weaponized agencies, I could not say.

GNL says

He didn't mention the capitol requirements though. :)

@GNL,

Real estate is a puzzle IMO. To succeed, we need to find the pieces and put them together. I didn’t have much capital to start with in 2009. Fortunately, I was able to figure it out. This was why I did a bunch of $150-$160k condo deals. Each deal required borrowing two $20k CC at 0% for 12-18 months with 3% balance transfer for the 25% down payment and closing costs. Finance 75% with bank’s money at 4.5% interest at the time. Put a renter in there where they paid $1.5-$1.6k/month for rent.This was why I did a bunch of $150k condo deals. These condos rent for $2.3-$2.7k/month now.

When I had more deals than I could borrow money, I took on partners. 50% of something is better than 100% of nothing. I did 6 deals with someone I met on Patnet alone. I got to 18 properties in just over 3 years (11 was my ownership).

Once the condo has been seasoned for 6 months, I/we would refinance, pull out the equity to payoff the 1st lender and CC debt. Rinse and repeat. These same condos are worth $550-$650k now.

3 years in, I met someone wealthy while my Patnet partner wanted to move and retire in Brazil at 40 years young. Two of them met a few times, but they didn’t get along.

To me, the 5 pieces of real estate are:

1) good deals (have someone find them if we don’t know how). They work for us for free too. I used to source deals from realtors and at the courthouse steps using foreclosureradar.com.

2) capital. Use someone else’s if we don’t have it. It can be through partnership, private debt, hard money, or syndication. I’ve done all.

3) financing. If we don’t have credit, use someone else’s. I didn’t have a job so I financed under my wife’s name, siblings and partners.

4) contractor/handyman. Find someone reliable.

5) property manager (PM). Find a great PM. Ours was a referral through an attorney. Be an investor and not a landlord so we don’t get burnt out.

Bitcoiner says

It sounds like you are getting pushed further out east because of high rents in Alpine and because you want a larger place. (Your words).

Partially correct on the move from Alpine. But if the rent stayed at $1,700, we likely wouldn't move. I can't stand paying more for the same thing, SDGE is just as bad on this point. That's what really sparked the move. As to being pushed, again half right. We chose not to return to the city when we moved back three years ago. Not economics. Crazy is what kept us out, and my long-time desire to leave the city behind. Unfortunately that part is getting sacrificed in Yuma, but as it's no where near the size of SD, I'm willing to take a shot. The part that does play into that, our decision to never again spend more than 25% of our income on rent(net of course).

Logan, is that you, again..?

gabbar says

NuttBoxer says

Section 8 pays up to $4k a month now in some areas, higher I think.

Holy shit.

About four years ago they changed the assistance limits match the zip code of the rental, so yeah, in some areas, Section 8 pays over $4k per month(if you quality for 3bdr).

Something else you inflation forever's probably aren't considering. The public sector makes up over half of the income in this country. Between government jobs, and government aid. If you don't understand how unsustainable that is, again, read someone like Griffin or Rothbard.

Bitcoiner says

Yep. You would need massive unemployment and higher rates and a 3x in inventory for this to have an impact to the housing market.

Mortgage rates have been going up, decreasing demand. Let’s keep an eye on where unemployment is heading. Credit is already tightening. Let’s circle back in January 2024 and we’ll see.

Patrick says

$415k is super cheap. In the Bay Area, they go for a lot more than that depending on location.

Bitcoiner says

Eman
That’s great stuff! Congrats.

Question, let’s say you purchase a new construction with 10%-15% down and you use the builders preferred lender. Intention is to move in and use as a primary. But after the loan is secured you actually rent it out.
Now it’s used as an investment property. An investor loan would have required a higher down payment and higher rate. any repercussions?

@Bitcoiner,

I call it water under the bridge so don’t bring it up and don’t mention it to other people.

If you bought with the “intention” to live there, but you couldn’t due to job relocation, or unforeseen circumstances, then it’s fine. If you bought with the “intention” to rent it out, then it’s mortgage fraud.

A good underwriter can catch this when they look at your personal financial statement. The best way to stay and grow in this biz is to do biz with integrity. Trust is paramount.

In my market, there’s a whale who falsified rent roll to get the maximum cash-out on the refinance. Chase caught it and banned him from their list. Then rumors circulated. It’s a small world and people talk. Don’t be that guy.