Live with Benchmark Insurance, Quest IRA and Noble Mortgage!

By 2017-12-06Radio Show

RPRE 244 | Benchmark Insurance

Right Path Real Estate Radio with Tom Perry and the guys of Benchmark, Quest IRA and Noble Mortgage! Get the answer to your question that’s keeping you from taking action at succeeding today!

Listen to podcast here:


Live with Benchmark Insurance, Quest IRA and Noble Mortgage!

Welcome to the show, Benchmark Insurance. What’s going on?

I’m good. How you doing?

I’m doing very well. We were talking a little bit before the show got started. Checks are a flowing now, is that right?

Yes, soon. They are now starting to come around. It’s been three to four months. Now, we’re starting to see a little progress.

When you stop and think about the scope of the problem, how big and how many people they have to process. It’s not like you had three fires in the city and you have all the resources to try. You have thousands and thousands and thousands of claims. First off, the insurance companies have to build the sausage factory because they don’t keep excess people. People have to move from Florida, I mean the adjusters, all those folks.

It’s fully staff adjusters in the game. You generally only have a team of five to ten inside adjusters that actually make the decisions for the insurance company. Everybody else is staff and they’re all contract.

If a big storm like this comes in, if we had more wind damage, which we didn’t have that much wind damage, but if we’d had more wind damage then we would have had a lot more claims also. This was really a FEMA issue primarily or private flood insurance. Outside of that, there really weren’t many claims except for cars. When it came to cars, you get a USAA or State Farm or Farmers, they have claims adjusting centers. USAA may have three or four guys on staff because people are always getting offender. Those were full-time employees. When you have a major disaster, those four guys, it would take them five or six, maybe ten years to get through that backlog.

You’d have to have a license for the flood.

You can’t just hire strangers off the street, ” Home Depot folks, come on. Hop in the truck. Let’s go and be an adjuster.” You got to hire licensed people and there’s just not enough going around Houston. I don’t think people realize the logistics behind the scene of what actually happens in all the movement of personnel. Most independent adjusters, they work for several different groups. They’re all independent contractors, but they’re not contracted with one major group.

No. They are everywhere and the minute that Hurricane Irma hit a lot of these guys jumps in.

They left Texas. The claims were going to be bigger in Irma. They do because there are wind claims. When you have wind as one claim and flood as another claim, they get paid off of the size of the claim. That’s the thing that people don’t realize because a lot of times they think that the adjusters are trying to fight on behalf of the insurance companies, but they’re really not. They want to make sure that it’s fair for both sides.

Benchmark Insurance: They think that the adjusters are trying to fight on behalf of the insurance companies, but they’re not. They want to make sure that it’s fair for both sides.

They get rated by the insurance company for paying too much, so they get penalized there. They also get paid a percentage of the overall claim, in tiers, in bonds. It’s not like dollar for dollar. It’s not like a 10% commission or anything like that, but they get paid in tiers because it’s more work.

They’re building the full scope so it’s about 60 to 70 pages of estimates and pictures, supporting documentations. These are all legal documentation that they may have to be deposed for.

They may have to end up in a courtroom several years down the road. They’d have to be going back two or three years oftentimes. By the time that they would actually get in front of a jury or something like that and they have to be reading their notes because they’re not going to remember all that. It’s like they’re building a legal case on what you are owed. On $100,000 claim, that’s a lot of work compared to a $10,000 claim so they get paid more. That’s the reason why they get paid more. What’s do you see happening in the marketplace? Let’s first talk about flood maps. When are flood maps going to be redrawn?

I haven’t heard anything. Generally, that takes every bit of six months to a year for the flood maps. They’ve already started working on different tiers of zones.

In Houston, there’s going to be a new zone like for the houses that were not in the 500-year flood zone but got flooded.

Basically the entire State of Texas is a flood zone now and they’re basically going to tier it out to where preferred is no longer 500 years obviously, because we’ve had 500-year flood zone houses all flooded.

Not just flooded but some 500-year flood zone house got seven feet and what’s crazy is it’s not because of the rainfall. In many cases it was a release of the waterways.

The release of the waterways, the dams and that’s the case. There’s nothing they can really do about it.

It was four-feet of water. In the grand scheme of things, when you look at how much didn’t flood, considering how much rainfall that we had, it’s like, they really have done from a city planning standpoint, I’m not a huge fan of the city and all that. I’m not trying to get political about it.

It could have been a lot worse.

If this had happened in the late 1800s, early 1900s, that much rain, we were a swamp back then.

We’ve got an investor right now. They’re actively buying and they’re buying whole properties. The lending rules are changing right now and just like the insurance rules are going to be changing I’m sure. The lending rules are changing, really where they’re lending based on cashflow, which is an unusual way. It’s also has to match up with the percentage of ARV. It’s a pretty unique formula. Which makes sense when you stop and think about if you’re doing buy and hold properties that really it’s a business at that point, but a single family off of cashflow that, that makes a ton of sense.

This is pre-purchase. Actually, it’s based on refinance. Purchased with hard money and then refinance out. What they’re really looking at is they’re looking at annual rents and then take out a percentage for vacancy, about 5% for vacancy, about 5%t for maintenance. Then take out your taxes and your insurance and then divide that by 1.25 because they want a 25% buffer. That’s your monthly debt service that you can have. Do a 30-year mortgage at 5.5%,that tells you about what you can pay for the property for purchase and rehab. You can go above that if you need to and you’re going to be out of pocket a little bit so that you can calculate your number right there. Knowing the insurance number upfront is important to do and y’all make that easy. I can put in an address, I can go to

We have our new design on our website now. You can go into our portal. It’s going to give you a lot more of an analysis now. It tells you how risk averse you are based on how much you want to insure your property for and it’s providing you with the annual rents in that area. The average rents as well as the appraisal versus your reconstruction cost. Go check it out. It’s pretty awesome. Give us any feedback that you can. If you think it’s confusing for whatever reason.

Everybody that’s been to before or you think you’ve been there before, you haven’t actually been there. Go to and see if we can crash their server. You’ve got basically a deal analyzer and you’re talking about risk and insurance is really all about mitigating risk. What’s fascinating to me is new investors, they’re so quick to be able to calculate what their returns are going to be, but they’re rarely ever calculating what the risk is. If you’re not looking at return and risk, you’re only looking at one side of the equation. It’s really almost like it’s a two-sided coin. You’re not ever going to grab a coin is a head side only you.

It’s got to have a tail side too. If somebody’s counterfeiting a coin and they were only printing, doing all their detail on the head side, then they left the tail side blank. You’d be able to know it’s a counterfeit pretty quick. You got to know that the two-sided coin of an investor is, you got to be able to calculate your potential returns. You got to be able to calculate your potential risk and don’t you see investors over and over and over again. We see it a lot. It’s not just real estate investors, either. This crazy stuff on Bitcoin. Everybody’s talking about the returns, “Look at what he’s got.”

What about the risk? Yeah, you can lose it all. You’re just risking everything you put into it. It could be like Enron. Enron had some fabulous returns. Bernie Madoff had some fabulous returns. People in the very beginning, is on paper, they had some incredible returns until the music stopped. They’re like, “I wish I’d known. I wish somebody would’ve said something.”That’s what we’re screaming from the mountaintop is, “Know how to mitigate your risks, the best way to do that.” People sometimes do these elaborate corporate structures to mitigate risk. Jason and I talk about all the time, the easiest way to mitigate risk is insurance. Why develop all these LLCs because for each one of those, you have to maintain the corporate documents. You’ve got to maintain your tax returns and it’s like really all that, just for risk management?

It would be a nightmare and then at the end of the day, understand that if in the event that you are getting sued, the attorneys want the low hanging fruit. They want insurance money. They don’t want to go after your corporations find where you’re storing your money at. It’s insured. Make sure you insure the general liability and you’ll be fine.

What I love about IUL’s product is IUL have really created an insurance product for investors and it’s by investors. By investors for investors, so that the people that are in it, they’re less likely to utilize the insurance because they understand the big picture. The average person out there, I wish that there was a course in high school taught about insurance, but unfortunately there’s not. We spend too much time on Macbeth and Romeo, wherefore art thou Romeo. If we taught insurance, I think people to understand, “It’s for catastrophic losses. It’s not for old changes on your car. It’s for when you get in an accident.

It’s not really about fixing your car, it’s about the life. It’s about the health damage you could do to somebody else.”You can break somebody else’s neck and that’s expensive and you’re liable for that if it’s your fault on the accident. That’s really what insurance is all about and the average person doesn’t get that. What I love about IUL’s product for investors is the average investor a little bit more financially savvy, they get that. You’re going to have a smaller claims ratio. It’s fantastic., Benchmark Insurance, 281-569-4353. Thanks for coming in.

Thank you. I’ll see you.

I’m joined by Quest IRA. What’s up?

How are you doing?

I’m doing great, Anne Marie. What’s new in the world of Quest IRA?

We’ve got a big event that we’re planning. We’re planning our first ever online boot camp. I’ll tell everybody about that and give out some information on how they can register. For those of you that aren’t familiar, I’m sure many of you are on the show all the time with Jason and Tom, but basically Quest IRA, we are a self-directed IRA company. If you have an existing IRA or you have some type of employer plan at your job, like a 401(k) or a pension, you can roll those over and start using them in a self-directed IRA and immediately start doing real estate investments. You can lend money out and get a great return. You can also invest into things like private companies too.

If somebody wants to get started, what’s the best way to get started with you guys?

For most of our clients, they’re moving over an existing account but if you’ve never had a retirement account before, maybe never worked in a corporate job, you can always set up a new account. It’s pretty simple and we don’t have any minimums. You can just visit our website at and there’s an application. This is a new topic. There are lots of education on our website that they can check out and get a feel for us and how the self-directed IRA world works.

You all have got an amazing website. Whoever your website designer is and all that, whoever’s responsible for that they’re doing a fantastic job. Just looking at all the different types of accounts that you have, the Traditional IRA, the Roth IRA, the SEP IRA, the Simple IRA, the Health Savings Account, the Coverdell Education, the individual 401(k), the Checkbook Control IRA. It’s like, “You all offer a lot of different options.” I know a lot of that is alphabet soup for the very new person. What I love about Quest is you all do such a fantastic job of breaking down a relatively complicated topic that is one of the most important topics that people seem to under value the importance. Most people’s biggest regret as they get closer to retirement is, “I wish I’d known twenty years ago, what I need to know now about retiring.”

Why put off until tomorrow what you should be taking care of today? Take action now. Go to You all have great events as well. I love going even to the Education tab. You’ve got your blog, you’ve got an archive of previous classes that you’ve done. You’ve got a lot of educational articles about IRAs. You’ve got information about, there’s things you can do and then there’s things that the IRS says, “No. That’s the prohibited. You can’t do that.” You talk about prohibited transactions. There’s a wealth of information just on your website. That’s fantastic.

People hear about self-directed IRAs and sometimes people are intimidated. There’s a lot of education that comes with being able to do investments in these types of accounts. We try to break it down and make it as easy as possible. There are plenty of self-directed IRA companies in the industry, but our difference is that we give you that education. We make it understandable, we make it relatable. For that reason, I think that’s why people tend to come back to us and keep coming to our classes even if they’ve already been to a few because you get something new each time.

The alternative that most people have in terms of an IRA is they have it through one of the big institutions like Fidelity or something like that. No one at Fidelity is going to care about your money, like you care about your money. Why outsource that to somebody else that doesn’t care like you care? The other thing is that they’ll tell you that, “You can self-direct. You can pick from this fund or that fund.”It’s not just funds that you can pick from. There’s a whole plethora of information that you can gather outside of REITs and things like that. You can’t invest in individual properties through your IRA in Fidelity like you can with Quest. There are so many more opportunities to invest in your IRA. People don’t realize they can invest with their health savings account.

RPRE 244 | Benchmark Insurance

Benchmark Insurance: Health insurance gets cheap if you’re responsible for covering the first $100,000.

Most of the time, people just stick that in an account that’s earning 1% or 2% or even less. People could actually grow their health savings account. Imagine how much money you could save if you could grow your deductible. I used to sell health insurance and imagine how much less it was. I had people that would buy health insurance with $100,000 deductible because they had $250,000 or $300,000 sitting in their health savings account. Health insurance gets really cheap if you’re responsible for covering the first $100,000. It’s not the first $100,000 that’s going to break most successful people financially, it’s the next million, $2 million, $3 million. Some of these diseases you can get nowadays, they are so expensive.

Medical care is so expensive. The great thing about the HSA is eventually you’re going to have some type of medical expense, whether it’s you get sick and you need to have a surgery or you have some type of terminal illness or disease, or even if it’s just something more every day. When I needed to go get some new contacts, I went to get my contacts, I paid for them all completely tax free because I was using my HSA money. Whereas alternatively, I would have just been using my debit card where that’s all tax money. It’s a no brainer when you look at it like that.

Contacts is a great example, but we’re entering cough, cold and flu season right now. People are going to go down and buy NyQuil and if you use your debit card, you’re using after tax dollars. When you buy that $10 bottle of NyQuil, if you’re in a 30% tax bracket, it costs you $13 for a $10 bottle of NyQuil. Wouldn’t it be better to be using pretax dollars instead of after tax dollar? Why not open up an HSA just for the Nyquil’s, just for the vitamins that you buy? Buy vitamins with pretax dollars, not post-tax dollars. If you don’t have an HAS, I think that that’s one of the single best investments that the average American misses out on just throw an extra hundred bucks a month into an HSA and next thing you know, you’re able to buy all. If you’re just buying your vitamins in your over the counter contacts, things like that, all of those things can come out pre-tax.

Even better, if you’re not sold just on, “I get all of these tax benefits for paying for my health expenses.”When you’re the one that’s actually depositing the money in there, you actually get a tax deduction on it as well. When you deposit money in a traditional IRA, you get to take a deduction on your taxes for that year, it works the same way for an HSA. You’re getting those up front deductions and whenever you do your investments and you’re making your money in there, it’s all going back tax free for when you do eventually have some type of health expense. That’s one of our favorite accounts because it really does have the best of both sides of the tax benefits.

Then you could actually use that money. Imagine if you put $5,000 into an HSA for example, because you have a $5,000 deductible and now what if can wholesale a house out of an HSA, couldn’t you?


I’m going to imagine that if you’ve got a property under contract for a$500 deposit and then you go and sell that property, and you make a $10,000 assignment fee. Now, your $500 has turned into $10,000 and now you’ve got a bigger HSA. You can’t do that in a traditional has if you’ve got it at some other account, housing center. You all teach people how to do that. You teach people how to do it the legal way, how to do it the right way so that it’s going to keep people out of trouble. Because there’s right ways and wrong ways to do those kind of things. I’m sure there are certain things that would be things you’d want to watch out for and stuff like that.

You teach people how to get great returns, but also how to mitigate the risk. We had Benchmark Insurance on right before you. We were talking about everybody wants to calculate the returns, very few people calculate the risk. There are always risks with every investment but what I love about Quest IRA is you all teach both sides of that equation. You all teach how to maximize returns, but also how to limit risks. Now there’s risks in every investment, but if you’re conscious about it, there’s ways to mitigate and minimize that risk. Tell us about your online boot camp?

We do a lot of education but for the first time ever, we’re going to do an online boot camp. We normally do bootcamps in all of our different territories throughout Texas and it’s a full day of education. When we fly in people from across the country, you’re flying them to all these different events, we thought it would be great if we could do something where we could get even more speakers involved because they can actually just film from the comfort of their home. That’s what we’re doing. It’s all online so you don’t have to drive to another city or go sit in a ballroom like many of us do. You can actually just watch from home and tune in at your own convenience.

What’s the easiest way to go and register for that event?

The easiest way is by visiting our website. It’s, 855-FUN-IRAS. Anne Marie, thanks for being on the show.

Thanks for having me.

Joining us, Darel Daik, Noble Mortgage. How are you?

I’m doing good. How are you doing?

I’m doing very well., 713-680-8100 is your number. What’s new in the world of financing? I know that most people think that financing doesn’t change over time, but it changes a lot. What I realized is the pendulum swings constantly during the marketplace. What’s new in the world of Noble Money?

There are just tons of products right now available for investors that weren’t available even a year ago. For example, we have an 85% purchase money loan on a conventional basis for investors. They can only put down 15%,that’s anew Freddie Mac product that came out . It’s constantly getting more aggressive right now because the market’s in a good place and there are a lot of tools available for investors to use to get into properties for little to no money down. We do a lot of classes as you know, and what we always try to teach people is you need to learn all the products if you’re going to be in real estate because its capital intensive and you better educate yourself so you know how to finance that property once you find it.

What I find with a lot of investors that they got in 2009, 2010, maybe 2011 after the crash. It was easy for them to find deals and the financing rules were a certain way back then. They learned what the rules were and maybe they got busy 10, 11 and 12 and then they slowed down for the last five years. They’re just managing what they had. These were primarily buy and hold guys, but then they had a really tough time based on the formula they created is it, “We’re buying ducks and this is what a duck quacks like. It quacks like a duck, looks like a duck, swims like a duck, it must be a duck. We’ll by ducks.”

RPRE 244 | Benchmark Insurance

Benchmark Insurance: You need to learn all the products if you’re going to be in real estate because its capital intensive.

Then the marketplace changed a little bit, no more ducks available and instead of them shifting and saying, “We’re no longer looking for ducks. Our new investment criteria is this, they just started with, “There’s no ducks out here so I guess we’re done.” Now, what’s happened is that the products have changed and if you’re not constantly staying on top of it, it’s a little bit like a doctor. Medicine is not done the same way now than it was even done in the 1980s. There are new techniques in orthopedics and pediatric. Every single specialty has new techniques and it’s a constant learning thing and every industry is really like that. Engineering for oil and gas is different also.

Finance is no different from all of those in that it’s constantly evolving and you’ve got to stay up with it. You can either do that yourself or you can let the experts at Noble stay up with it and just you explain your investing criteria to them and they can say, “Based on what you’re trying to accomplish, this is the best product,” and they can explain to you why. People shouldn’t be contacting you on a regular basis even if they have a relationship with you, just saying, “What’s changing?

People get stuck in their habits, “I’ve got this private lender for this and this is how I buy,” or “I’ve got this bank and I’ve been using this bank for the last ten years.”Those are all good, but again, they’re tools. They’re tools that you can use but you got to educate yourself what’s available out there. We’ve had an 80% hard money loan right now. Back in ’08, ’09, ’12, that was 70% all around the board and we’ll go up to 80% now. There are always different ways to finance it.

Which doesn’t sound like a big deal, but that is huge. Especially for buy and hold investors. It’s not as huge I don’t think for flip investors, except for the fact that you can stretch a little bit. A lot of people when they, they start buying, everybody knows the 70% minus repairs rule. I can pay cash 70% minus repairs, but that’s really more of a lending rule than it is an investing criteria, but they’re intertwined. It doesn’t necessarily mean that it’s a good deal just because you could borrow up to 80%, but it is if it’s a buy and hold because you don’t have the same expenses on a buy and hold than you do on the flips.

That product is strictly built for buy and hold investors, it’s not for flippers because it doesn’t make sense.

You’re going to lose if you’re flipping properties and borrowing 80% minus repairs.

That product is strictly for investors that want to buy and hold. They buy the property at 80% of ARV, get the repairs completed and immediately refinance into a long-term conventional loan which is also at an 80% loan to value. It’s a great tool for people to get in with zero money down. If you can buy investment property with zero money down and create a cashflow of $300 to $500 a month. that’s a no brainer. You just sit on it and let your tenant pay your mortgage.

Then you’re making money in five different ways. You’ve got the depreciation, you’ve got the cash flow, and you’ve got the equity pay-down. It’s just on and on and on. It’s just a fantastic way to build wealth and that’s what we teach. Building wealth and building your income, two ways to make money in real estate. Financing is a major part of that because what I love about this particular industry is that number one, it’s a self-collateralizing asset. y having it be a self-collateralizing asset, then you can build and scale and use a tremendous amount of leverage. That’s how you grow wealth fast is when you can use leverage. You’ve probably heard the saying, “Give me a fulcrum big enough and I can move the world.”You’ve got 80% financing for buy and hold and then 80% financing on the cash out. What else?

Everything else hasn’t changed that much on the conventional side or the hard money side. One thing that we’re seeing a lot now obviously is all the flood houses that are coming in. At first, it was people who are a little bit hesitant to jump into that market but no pun intended, we’ve seen a flood of these flood houses coming in. We’ve got a lot of good deals out there especially on the buy and hold properties. There’s a ton of houses priced at ARV of $100,000 to $150,000 that people are scooping up right now and it’s just going to sit o n and you’re also starting to see some of these big REITs come in Houston and scooping up these houses.

Where are you seeing the REITs are buying these houses? Are they buying them directly from the sellers or are they buying them at auction?

They meet them everywhere. They don’t want to go through a lot of repairs. Some of them are waiting for these flipper guys to purchase them and renovate them and sell them at maybe $0.85 on the dollar. They’re very specific in their criteria but I’ve seen a lot of blast from realtors around town that worked with these REITs and they’re just looking to buy as many houses as they can. They typically want a three bedroom, two baths. They will buy a flood house that is not too bad, but three bedroom, two bath, somewhere worth around $80,000 to a $1 50,000 and so that’s going to make it a lot more competitive in the marketplace and it’s going to be good for Houston, I think.

They’re buying mainly off of MLS then if they’re working with realtors. Is that right?

Yes or properties that are off market.

A realtor has a pocket listing or something like that?

Yeah, something like that or maybe have investors who’s getting out of the real estate field and got ten to twenty houses they want to liquidate and move on. That’s going to create a lot. It’s going to be good for Houston because we have so many houses right now that needs to be purchased in neighborhoods, entire neighborhoods that had been brought down by the devastating effects of Hurricane Harvey. It’s going to be good to get those neighborhoods back up and running. You still have neighborhoods where they’re just sitting vacant. Then you have people who are working on their houses and a lot of them are just sitting there. That’s just not good. and the phone number there is 713-680-8100. You all do hard money loans. You also do conventional loans. You’ve been in business since 2003, right?

Yes, since 2003 and we’re a little bit different than a lot of hard money and that we don’t just only hard money. We do conventional loans for homebuyers. People that look into purchasing a property to live in. We’re known for all our investment products, and then we do commercial loans and we just did a nice apartment loan in Montrose. A buy fix and flip on an apartment in Montrose. We’ve got a lot of loan products out there available.

How many doors was the apartment complex?

The apartment complex was 14 doors.

What kind of cap rate?

I can’t remember what the cap rate was on that. It was a high dollar deal. I couldn’t believe how much they paid for that property. It’s Montrose. It’s a double lot but the lot alone is worth a million bucks. Very expensive but you’re so insulated from depreciation over there. The values just keep going up and up and up. I think it came in at ARV have $2.2 million or something like that. I was shaking my head, that’s for fourteen doors.

They’re not making any more real estate that close to downtown and with all the money that’s been poured into the downtown area now with the Baseball Stadium and the Rocket Stadium and apparently the baseball stadium is going to be pretty good for awhile, with the world champion Houston Astros. If you work downtown, you want to live close to where you work, all those kinds of things, it’s on the right side of downtown. It’s on the highly desirable side of downtown., 713-680-8100. How far in advance of finding a property should they contact you? I’m sure a lot of times people will get a property under contract first, then they contact you to try and get approved for a loan. That’s out of order especially for investors, isn’t it?

RPRE 244 | Benchmark Insurance

Benchmark Insurance: First find out what you qualify for, get the loan setup and then start looking for property.

Yeah. You certainly want to get your financial health in order first. It doesn’t take a lot of time or effort to get preapproved and we do that every day. It doesn’t cost anybody anything. They can contact us. We’ll give them a quick application, get them preapproved. It only takes a day or two. Then they know what they qualify for. They have a letter stating what they’re qualified which is going to make the seller take them a little more seriously. We always recommend they do that first, find out what they qualify for, get the loan setup and then start looking for property.

Darel, it’s been great having you on the show., 713-680-8100 is their phone number. Check them out. Thanks, Darel.

Thank you.

Why would you not want to come and learn how to talk to sellers? That’s one of the biggest areas. There are five main areas that people struggle with in real estate. The first one is how do I find deals? The second one is, how do I analyze the deal? The third is how do I fix the deal? The fourth one is how do I fund the deal? Then number five is how do I dispose of the deal? In other words, how do I get rid of it? One of the major things about finding the deal is learning how to talk to a seller. It’s a real skill set. Now, some people are people folks and other people or not, but knowing the right way to talk to a seller s a real skill set that you can learn.

We’ve bought fixed and flipped over 450 houses in the last three and a half years. I don’t know if anybody else has done that many. We obviously have gotten it down to a science of how to talk to a seller. What I recognized is real generational wealth is going to be made by the people that take action over the next six months. If people get into action over the next six months, one of the key things you’ve got to be able to do is learn how to talk to a seller. Go visit All you have to do is make an effort. That’s the number one thing in life is just showing up. Thanks for listening.

Important Links: