A (11:32)
So they're opening this up there, which is a Soho house, but that's kid friendly because, you know, all these private clubs tend to be only for like, sort of like either single, you know, young people or like people whose kids are grown up. And it's like a, you know, family's not welcome. But as somebody with like, you know, four or five year old kids my entire life, basically, and the reason we got, you know, our membership for this thing is like, we just need a place to take the kids as like a reliable spot where they're gonna have some fun. And I can like have them fenced in. You know what I mean? Like they, they can, they have some stuff to do and I, I can just chill and like take care of, you know, whatever. Oh, you need food, we have food. You wanna swim, you got swim. You know, like, you wanna just chill. You wanna play some games? We could do that too. Like whatever, whatever you need. So I thought this is kind of interesting. The other one I thought was interesting. The Guy who started Wag.com has a new business. Have you seen this? He's starting this new thing in Denver that when I first heard it, I kind of laughed. I think his name is Jason Metzler. He's basically building multifamily housing. So just like a place to rent, to live. But it's called like, I forgot what's called live pet play or something. Live pet work. And basically it's like what he realized was, you know, in Denver there's more pet owners than, than parents with kids. And he's like, there are. And I think this is true nationwide, I believe that there's more people with pets than there are people with kids. And for those people, housing often is like very limited. So like a lot of places don't let you have a pet. If they do have a pet, it's like this inconvenience where like nothing about it is built for life as a pet owner in a city. Whereas what these guys are doing, they're like cool, you know, dog grooming, you know, you basically, you rent your plate, you rent your unit. It's like the unit has like a doggy door. There's like grass areas at the bottom. And on the rooftop to take your dog out, there's dog walkers in the building. So you get like, you know, 20 jog walks a month. You get two dog, two nights of dog sitting. And targeting specifically this like sort of demographic of person, I thought that's pretty interesting. It's basically like, take normal multi Multifamily. But how do you charge like an extra 30 to 40% of rent every month? Well, if you make it like a plus for somebody who's like dog obsessed and you know, dog owners, I think they spend something like six, six thousand dollars a year just on their pet alone. And the inconvenience of living in a place that's like, not pet friendly is a daily, you know, a daily nuisance. So I think there might actually be something to this that's interesting because all, all real estate is just a question of can you buy it where everybody thinks it's worth X? Right? You buy it because everybody thinks it's going to generate X dollars of net income. But, you know, you can, you can do 1.3x, 1.2x. And if you do that, you know, and you buy a $20 million building, you've increased the value of the building maybe by $10 million or $12 million if you're able to do that. Well. And so I just think this was smart because normally the way they do these value adds is you have to build more units. It's like, that's how you're going to generate more income, is I'm gonna have to spend a bunch of money to build more units. This was like, no, I'm just gonna, like, position it as being great for this type of customer. And I know that that type of customer is willing to pay a little more for these additional perks and services and spaces.