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Why 95% of Wholesalers Fail This Year | Wholesaling Real Estate - YouTube
Channel: Max Maxwell
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hey everyone its max Maxwell and welcome
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to another YouTube video I know I've
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been a little bit absent with YouTube
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the last couple weeks as far as
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uploading some regular videos some tips
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and tricks and a vlog but I promise I'm
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working on getting consistency frankly
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I've been busy working on a few projects
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at the beginning of this year getting
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things rolling from a wholesaling
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business and one thing we've kind of
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been doing is implementing some new
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edged extravagant for example we mainly
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did a lot of wholesaling in 2017 now we
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want to carry on and do some other
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things as far as like hoteling and read
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more rehabs and more things like that so
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for example we got this campaign going
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where it's like no lead left behind we
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want to be able to help the lead no
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matter what whether that can be just
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wholesaling the property or all the way
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just to referring it and getting it
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listed on the MLS with Francis who was
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our in-house real estate agent right so
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that's what kind of big keeping me busy
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but I know you're probably looking up
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and looking at the title of this video
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and saying what reasons why most and 95%
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of wholesalers will fail this year well
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I just wanted this was on my mind I just
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wanted to get this out there since we're
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still kind of in the first quarter of
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the new year and I wanted to say you
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know here's what the reality of
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wholesaling is and I'm gonna give you my
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reasons why I think 95% of wholesalers
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that have started this year or last year
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will not be wholesaling by the end of
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the year okay first things first
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wholesaling and real estate investing is
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not a get rich quick scheme guys and I
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noticed people going around in these
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hotel lobbies and meeting rooms and and
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trying to tell you that this is a place
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where you can build wealth yes they are
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correct how fast kind of depends on you
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right you can get your first deal within
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30 days I did it was three weeks and I
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got my first deal but my persistency my
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persistence with this was actually crazy
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okay so you can do the same thing you
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just have to be persistent right so
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number one it's not a get-rich-quick
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scheme all right moving on to number two
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you're truly not obsessed with realist
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day and what I mean by obsessed I mean
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when you're with your family members
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your spouse your friends and you're
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talking about real estate too much and
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they tell you to shut up
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that's when you truly know you're
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obsessed if you're not listening to
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every podcast in your downtime searching
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YouTube for videos on how to do this and
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how to do that reading a book on
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wholesaling reading a book about
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rehabbing reading a book about just
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actually studying your market just going
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on your tax data Assessors website and
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just searching and searching and
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searching if you're not doing that
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you're not obsessed with it and remember
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the person that is obsessed with it it's
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probably going to be the one that is
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gonna be successful and still doing this
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at the end of 2018 so if I were you and
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you're not really obsessed with this you
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probably should move on to something
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else
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now ding ding ding number three a big
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factor is consistency a lot of people
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are looking for what they call the magic
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bullet when it comes marketing and
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finding leads finding motivated sellers
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and listen this business kit is not
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really that difficult finding motivated
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sellers and leads is not that hard if
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you really just put your brain to it but
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first and foremost you need to be
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consistent with whatever marketing
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channel you're actually going to do for
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example if you're gonna be doing
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door-knocking if you're gonna be doing
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PPC if you're gonna be doing cold
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calling whatever you're doing you can't
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give up after week 1 week 2 or week 3
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this business needs consistency so that
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you are able to get leads in the
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pipeline and that's really where
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majority a lot of our actual deals come
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from you don't actually it's very rare
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that you call somebody in them the first
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time you get an appointment and you book
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it you get the house right those are the
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unicorn's in our business it doesn't
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happen that often this business the
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majority of the leads from last month or
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two months ago end up being leads today
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it's called the pipeline so you need
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some time to build up your pipeline and
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be able to get leads that you've
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nurtured over time that's called
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consistency alright and
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another huge one real estate this game
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really any sales any sales job you're in
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ever is all about to follow up you have
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to follow up with your leads and that's
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and that plays on the last one which is
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consistency following up with your leads
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allows you to have a pipeline of people
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to talk to and just because three months
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ago when you sent that postcard made the
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phone call and they weren't actually
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motivated then things change now and
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they're actually can be motivated now so
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here's what I would say be consistent
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and do your follow-ups your follow-ups
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will actually give you so much when it
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comes to leads and and and and your flow
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of your business because like I said
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majority of our deals are from 3-4
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months ago and now coming in now alright
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and then here's one that you've probably
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heard if you've watched any other
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YouTube video or podcast and it's called
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analysis paralysis okay this is where
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you're actually watching youtube videos
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like you're watching me right now and
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you keep watching me next week the week
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after all of that you're on my youtube
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channel my Instagram my Facebook page
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you're reading books and podcasts and
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you never actually get started you don't
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have the confidence in yourself to
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actually get started that is what we
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call analysis paralysis and it defeats
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many wholesalers or real estate
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investors before they actually get
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started I tell you what I make mistakes
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every week in this business and my
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business we don't have a magic bullet
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either I try and testing is to see what
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works consistently so things that I'm
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doing I need to put it in motion over
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and over again and if it doesn't work
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then I move on to the next marketing
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strategy so don't get caught up in
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analysis paralysis and feel like you
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need to be a complete expert when it
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comes to real estate in order to make a
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wholesaling or order to make a lot of
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money wholesaling or invest in
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real estate I'm telling you you don't do
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that and for that
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don't become analysis paralysis rat I'm
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gonna give you a thing to do since you
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stayed at the end of this video if
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you're new to wholesaling here's my task
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and I want you to comment once you find
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out below write whatever state you're in
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I want you to find out if you're a tax
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lien state or a tax deed state and then
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I want you to find out how often your
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county that you live in actually holds
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tax sale auctions all right so comment
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below if you're a tax state tax lien
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state or a tax deed state and also tell
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me how often your county has tax auction
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sales alright guys so this is max max
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well thanks for watching my channel I
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promise you I'll be more consistent when
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it comes to this Facebook I'm sorry
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these YouTube videos over and over again
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I'm just taking a break from something
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you can see I'm usually not behind this
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pretty white background and all these
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lights shining on me I'm usually out in
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the field and you get to see that but I
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wanted to drop you this video okay so
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actually comment below what I said don't
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get stuck don't fall in the trap and
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don't be part of the 95% that will be
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watching this video next year that will
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no longer be in wholesaling all right
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guys so take care keep rockin and I'll
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see you in the next video later
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