It, so are they mineral rights, or how does that work?

Yeah.

So it's mineral rights.

So 1031 exchange, a lot of people just think, hey, I'm gonna...

And this is a huge misconception.

They think, I'm gonna sell a single family residence, I have to buy a single family residence.

Well, like kind is much broader than that.

Is there anything else you wanted to share kind of in closing, how to get ahold of you, anything like that?

But before we get there, why don't we start with your background, where you grew up, and what eventually got you into this world of real estate investing?

Yeah.

It's funny when you ask that because I at no point thought that I would be working in real estate.

I'm from Orange County, Southern California.

Grew up thinking I was going to go to medical school.

I don't know if I watch too much TV, but that's the path I thought I was going to take.

I ended up going to UCLA, have a degree in anthropology because when I got to school, realized No way I wanted to be a doctor.

How about, okay, let's maybe switch to, you know, tell us what is a Delaware statutory trust? What is it? What is it used for?

Why do you think DST investing is growing so fast, especially right now?

I mean, hate really is because of who owns the real estate in the United States.

A lot of the real estate, you quoted it earlier, but is held, I think 40% is held by baby boomers.

They're ready to get out.

They're ready to just get the passive income.

And that is what's contributing to this change.

It's also, TSTs are a really good tool for estate planning, right? If you have four kids in a two million dollar property and you pass away every kid is going to be in a different financial position have a different perspective so having them agree and keep that relationship upon your passing that can cause anxiety where with the dsts you've got two million dollars five hundred thousand or two million dollars four kids you can allocate five hundred thousand to each child and it's a very easy transition in comparison to a lot of their real estate direct ownership So that are some of the major contributors to why the industry is growing.

How do these work in these structures? And are there red flags that people should be looking for with any sponsors where they're trying to understand, okay, I should just walk away from this deal?