Listen to the Stock Club Podcast

Stock Club: Zillow Hits The Brakes on iBuying

Is Zillow’s pause on home buying just a precaution, or should we all be worried about the state of the real-estate market as as whole?

Despite being the fastest-growing segment of its business, Zillow has now paused all home buying until the end of the year. Is this a Zillow problem or should we be worried about the wider real estate market?

In this episode, we also discuss Facebook’s plans for a metaverse and our suggestions for its new name.

The potential of Tesla’s Texas insurance product.

And the two company earnings we’re most looking forward to seeing — Teladoc and Bumble.

James

Hi there. And welcome to Stock Club, a podcast brought to you by MyWallSt. I’m James and joining me on today’s episode is Mike and Anne Marie in the MyWallSt analyst team. Today we’re talking about why Zillow has paused its successful iBuying business, the Facebook Metaverse and its new name change and the potential for Tesla’s new insurance business in Texas. So Mike and Anne Marie, welcome to this episode of Stock Club podcast. So you guys are kind of newbies around here, I suppose. But Stock Club has been going for about – coming up three years now, and we’re a pretty successful podcast, I think by most means.

James

And in being a successful podcast, we often get requests from PR agencies and the like to feature certain guests on the show. And usually these requests kind of come with a little PDF, and there’s a bio of the guest, and they include some questions they’d like you to ask the guests as they come on, obviously to promote whatever they’re trying to promote. So recently we got a request in and I’m not going to name names because I’m not that kind of person, but one of the suggested questions really stuck out to me.

James

And it was this the question that they wanted me to ask this guest on this podcast was how did you convince your wife not to leave you after losing thousands of dollars of her money? Guys, I don’t know what you think. Should we get this guy on the show to ask him this question?

Mike

Absolutely. Diversify his income stream with some marriage counseling.

James

Yeah…It could be a new section on the podcast how to hide your financial losses from your wife. 

Mike

Yeah or fiance, James, in your case.

James

Well, yeah.

Anne Marie

I think it would be interesting to have both he and his wife on to determine what holes he left out of the story. So then we can help her piece it together.

James

We’re really moving into a different genre of podcasts here. Just to your point, Mike. She definitely doesn’t listen to this. So I could say.

Mike

Fair enough.

James

Okay, well, let’s move on to some properties then. And one of the biggest stories in the past week is Zillow’s announcement that it’s causing all of its home buying until the end of the year. So along with Opendoor, Redfin, Zillow has revolutionized the concept of iBuying in the US over the past couple of years. So for anyone who doesn’t know iBuying is basically a process through which these companies use predictive algorithms to offer fast cash to people that are selling their homes.

James

They then take the home, refurbish it or do any repairs they need and then sell it on for a profit. So in other words, it’s digital home flipping. But I’m sure the CEOs of all of those companies wouldn’t really like you to call it that. Zillow is a company in the MyWallSt  shortlist, and it’s experienced a lot of success with its Zillow offer segment pulling in well over $1 billion in revenue in its first year and $1.7 billion last year, even in the midst of the pandemic.

James

Mike with this recent news, what’s going on? If Zillow are saying this is such a successful part of their business and so they’re putting a pause on it. You know, the millennial inside me is hitting the panic button. Is this a wider market real estate problem or what’s going on over at Zillow?

Mike

Yeah, well, I think right now it’s a Zillow problem, I was the same as you. When I saw the headline, my mind jumped to this big systemic issue, but

James

Are you a Millennial? Are you Gen Z?

Mike

I think I’m a millennial, Gen Z starts in 1996 doesn’t it?

James

Straddling the line, yeah

Mike

I’m fairly into the millenials so. But yeah, it was the same as you. I thought this is something going off here, but now it’s more so actually to do with kind of the global supply chain issues everyone is having as well. Zillow is not going to be the first company to use this as a fall guy either, but there’s been no problem with the buying or selling of houses. Rather, it’s the repairing of them. So Zillow has said it’s experiencing a backlog due to labor and supply shortages and to deal with this.

Mike

It’s basically pausing the purchasing of new houses to concentrate on the transactions already under contract.

James

So this means that basically they’re having trouble getting labor and materials in to actually fix up the houses. Why aren’t the likes of Redfin and Opendoor experiencing similar problems?

Mike

I think they are. I don’t think there’s many companies that aren’t experiencing these logistic issues, but I’d say Opendoor and Redfin may have been better prepared than Zillow for this. I think we have to realize that Zillow kind of jumped in at the deep end with this iBuyingsecond-biggest.

James

Yeah

Mike

So it was the last one into the market, basically in 2018 and has become the second biggest player. And I think it’s not buying as many houses as Opendoor, but like the pace at which it’s accelerating is way ahead of everyone else.

Mike

I think it might have got a bit out over its skis a bit, just in terms of matching this pace where it maybe didn’t have the framework set up behind it, you know the kind of back end? So there’s a few pressures on the company, like Zillow bought 3805 houses in Q2. That was double what they did in Q1,

James

wow

Mike

and they’re still losing ground to Opendoor. And then there was another bit of pressure internally from the CEO, Richard Barton, who said that he set a target for Zillow to buy 5000 homes a month by 2024.

Mike

So all this pressure externally and internally has kind of led to this unsustainable pace that I think is going to come back to bite them a bit. And this is where we see now.

James

It really sounds like kind of walking before you can run. It’s easy to buy up all these houses, but the actual process of renovating them and then selling them on seems to be tripping them up. One of the biggest risks with this iBuying strategy that has kind of been cited from the very start is that these companies, as you mentioned, Zillow bought over 3800 homes in the last quarter alone. If the market was suddenly to go sour, these companies are left with thousands of houses in their inventories, then what’s your perspective on this risk factor?

Mike

Yeah, it’s interesting to kind of speculate how these companies would do when demand recedes. I know they’ve always described themselves as market agnostic or cycle agnostic. Of course, that’s them saying that. So say what you will about that. But in a market like the current one, which offers are being made in cash, way above asking price. Why would sellers need iBuy?

James

Yeah

Mike

Because it’s an absolute seller’s paradise. Why would they need a service like Zillows or Opendoors or Redfins or whoever else?

James

Well, surely it makes the process a lot easier. Like I’ve never bought or sold a home myself because I’m a 30 year old man in Ireland, but I imagine it’s not a nice process to go through selling house. I imagine it’s a pain in the ass.

Mike

Yeah, that’s the key to this whole process, this whole industry, is the convenience of it. But I would nearly suggest that a service like this would become more necessary when kind of the safety and security of dealing with an Opendoor or Zillow becomes a much bigger factor. So like people are like alright, this is a guaranteed sale. I could have my house on the market for three months in a bad market, and I wouldn’t sell. So I think the trend for iBuying isn’t particularly a hot housing market more so it’s a shift from offline to online.

James

Yeah.

Mike

If market conditions dictate, this is a more valuable offering, then it might even be a good thing. I’m not saying it is a good thing, but the necessity for iBuying in a bad market might even be more important than in a good market, if that makes sense.

James

Yeah. No, it doesn’t make sense. So you mentioned Redfin, which is also a company in the MyWallSt short list, and Opendoor, which is a company we keep quite a close eye on. Will you expect them to see any, announcing anything like this over the next few months?

Mike

Well, definitely not Opendoor because Zillow has a billion dollar ad business. Do you know what I mean? It’s able to kind of back off and say, look, we need to take a breather here.

James

It’s still making money in other ways.

Mike

It’s still making money like. It’s coming up to its core business. I’m not sure revenue is kind of evenly enough split between the two, with obviously iBuying growing much faster. But Opendoor doesn’t have the luxury to pause and say, look, we need to take a step back here and we need to shore up our back end you know?.

James

Okay. Yeah. No interesting, it’s definitely one to keep an eye on that in terms of Opendoor. So that in general, we talked about how I suppose the whole idea of iBuying is, I think I heard the word before the Uberification. So Uber obviously made ordering a taxi quite easy. And these companies that are coming out and they’re creating an app to make boring or tedious processes a lot easier. Anne Marie this is what may be a question I’ll throw over to you the fact that you can now sell your home basically through an app on your phone or through a website.

James

I’ve seen some stories where people like close the sale of a home in just over a week. With things like this. Do you think maybe that less friction is a bad thing and maybe there should be more friction for things like this?

Anne Marie

I think it’s 100% dependent on people’s lives in terms of what is the reason for moving. I think when I’ve looked at examples of people who use iBuying services, it’s often young people under the age of 40, often they don’t have children, or they might be single. And it’s because they’ve been transferred from one city to another for work. And so for them, they’re just like, oh, I just want to get out of this house as fast as possible so that I can leave and not have to worry about flying back here to deal with viewings and signing documents and all that type of thing.

Anne Marie

And so I think my concern with the business is maybe that I think being frictionless is an advantage for those type of people. But I’m wondering how many of those type of people there are. That’s a reflection of kind of the go getter needing to be in 1000 offices type work that we used to see in the past. But as we begin to lean more and more on a work from home model, are people going to be more used to the idea of being able to work from home?

Anne Marie

So then if they want to move it’s, okay, they can stay in one place for three months and show their house and deal with that annoyance, because at the end of the day they’re thinking, Well, I might end up getting more money for my house if I handle this process with a realtor rather than going to an iBuying service.

James

Yeah, definitely. It’s a complicated industry, but it will be one we keep a close eye on, especially to see what Zillow do next over the next few months will be really important for them. Let’s move on then. And it wouldn’t be an episode of the Stock Club podcast if we didn’t talk about Facebook to some degree. So two big bits of news came out from Facebook HQ this week. The first was that the company is planning to hire 10,000 – 10,000 – workers across the EU over the next five years in order to build its Metaverse.

James

The second is that the company is reportedly planning on rebranding and changing its name as early as next week. So a lot going on here for Facebook. First things first, Anne Marie. What is a Metaverse? And should we be terrified that Facebook is planning on building one? When I am talking to my mum on the phone and she’s asked me what a Metaverse is I know there’s something going on here.

Anne Marie

Yeah, definitely. Well, actually, to best answer this question, I have to tell a story.

James

This sounds like Emmet Savage.

Anne Marie

Yeah here we go.

Mike

Stick on your virtual reality headsets

Anne Marie

Yeah. Here we go. Okay. So actually, when I was in University, which wasn’t actually that long ago, I took a course called Science and Literature, which explored the relationship between the kind of two disciplines in the 19th century. So the kind of genre of science fiction only really began to emerge in the 19th century with the publication of Frankenstein in 1818. And the whole idea with the course was showing the relationship between kind of the fantastical thinking that would go on in the arts, and then the Sciences would kind of follow up.

Anne Marie

So someone would propose an idea in a novel and then science. 20 years later, we’ll be able to produce that in real life because we were in this period of extreme acceleration. And a great example of that is the spectroscopic method, which is the method used to identify dried blood. So it’s kind of something that we see all the time, like CSI and stuff like that. They put a liquid on a bloodstain and then they can say, oh, yeah, that’s definitely blood. Well, actually, that was invented in 1901 by forensic scientists, but it was actually first proposed as an idea by Sir Arthur Conan Doyle in 1887 in A Study in Scarlet, which is the first Sherlock Holmes novel.

Anne Marie

So it’s kind of this idea that there’s this relationship. But one of the main takeaways from this course was the idea that as we’ve kind of progressed into the modern age, the arts and the Sciences have been kind of pushed to the opposite ends of the academic spectrum, and they don’t interact as much. If someone majors in Stem, you don’t expect them to be taking all these literature classes and learning about all these kind of fantastical ways of thinking. But maybe if we look at this type of technology, if we look at the Metaverse and some of its contemporaries, maybe it’s actually the opposite, because if we look at Elon Musk, for example, he actually credits the seven book foundation science fiction series by scientist and author Isaac Asimov as inspiring his love for clean energy technology and his desire to build spaceships to extend the reach of human beings.

Anne Marie

And similarly, the concept of the Metaverse was actually first proposed in Neil Stephenson’s 1992 science fiction novel Snow Crash, in which all of the characters interact with one another as avatars in a three dimensional virtual space that uses the metaphor of the real world. So there you go. That’s how we get the term Metaverse. So the kind of basic definition of a Metaverse, and what we kind of use today, is that it’s a shared virtual world or environment where people that people access via the Internet.

Anne Marie

So we have simplified versions of these. They often look like video games, and I actually used to play some of them when I was a kid, which is embarrassing, but we have things like Webkins and Neopets, which like, you play as a little animal avatar, you have a little job, you play games to earn money, you go to shops. Stuff like that

James

The Sims as well, would you classify that yeah?

Anne Marie

The Sims is similar, except it doesn’t have Internet connection, so you can’t interact with other people, whereas these did so you can interact with other people’s avatars. So basically, what Facebook wants to do is they want to take this one step further and truly recreate life or work using virtual reality and augmented reality. So they want to make it as real as possible and really recreate life online.

James

Yeah

Anne Marie

We saw a simple demonstration of the company’s kind of VR Workspace, which is called Horizon Workrooms on CBS this Morning, where he took one of the hosts and they both put on VR headsets, and they were just like sitting at a big table, and he was like, oh, we could work, do our work in this virtual room. And in some ways, it really is like a continuation of what Facebook has always done. It’s that idea of it wants to bring your life online. But now Facebook wants to bring you online and everything that you kind of know and love.

Anne Marie

But to go back to your question on should we be terrified? Some key context that I left out about the book Snow Crash, which inspires everything, is that it’s set in, quote, a bleak dystopian future dominated by technology in which the state has almost entirely retreated from the fore. The world is run by mega conglomerates, and inequality is extreme

James

It’s a bit on the nose, isn’t it?

Mike

Yeah.

Anne Marie

So maybe we should be worried in the long term. But as of right now, the kind of examples that I’ve seen that Facebook currently has produced still kind of look a bit like The Sims so.

James

Yeah. And you mentioned there some of the early kind of efforts I suppose we’ve seen from Facebook and their VR workroom and stuff. And it strikes me that this is by no means a new plan. Mark Zuckerberg, I think, has been probably planning this for a long time. I think of the acquisition of Oculus. Is this the next phase in social media? Is this social media 2.0?

Anne Marie

Kind of. I think it’s first iteration, it continues to be in video games. So we have Roblox, which IPOed in March, and people were very excited about that. They described themselves as a Metaverse company, as is actually Epic Games. Fortnite likes to call itself a Metaverse, and both of those kind of hinder upon completing tasks and playing a game. But they do have some elements of life. So, for example, musicians do virtual concerts in Roblox. So, Ariana Grande and Lil Nas X have both performed virtually, which basically means that they are singing live.

Anne Marie

But like the sound is coming out of their avatar within the game. And even like some of the world’s biggest fashion companies have experimented with making virtual clothing that could then be purchased within Roblox and worn by your little figure. So there are some elements of our real life being replicated in these. I don’t know. It’s still a little bit kind of silly. Do you know what I mean? We’re not quite there, but I do think that is the new type of social media, is how can we interact in a way that is not just 2D, that’s not just posting posts and photos.

Anne Marie

How can we actually somewhat try to replicate to the interaction of being in person?

James

Yeah, absolutely. I completely concur with your point that it seems a bit silly, but I’m reminded of that quote, and I don’t know who to attribute to, but it’s in reference to the Internet and how it’s what smart people are doing on the weekends we’ll all be doing in ten years, time or something. And it seems a little bit like that as well that I don’t get it because I’m obviously not a smart person, but there’s something there so definitely to keep an eye on. So let’s move on then to the other bit, which is obviously Facebook changing its name.

James

Mike, is this anything more than a big PR move considering all the bad press Facebook have got over the last few years?

Mike

I don’t know. I’m kind of looking at what Google did, and they started Apple dot com and then Founders Larry Page and Sergey Brin kind of stepped down basically because they didn’t like getting pulled in front of Congress every second month, and I could kind of see something similar to that happening maybe under this new name and Mark Zuckerberg maybe becomes the CEO of whatever it’s going to be called, meta dot com or

James

Well Horizon, Horizon is apparently on the shortlist, which us here at MyWallSt aren’t best pleased about. I think Emmet is gathering a team of lawyers, jokingly, obviously jokingly if anyone on Facebook is listening.

Mike

It can turn into a new business, just one class action lawsuit.

James

Yeah, exactly.

Mike

Yeah seeing like Mark Zuckerberg maybe become the head of this and have a head of, well he already has the head of Instagram Adam Mosseri, who kind of took a lot of the brunt from all of the heat from the Wall Street Journal investigation, like he was the head of that Mark Zuckerberg wasn’t. So I think this could kind of be the new formation of it where Zuckerberg is still up at the top, the little puppet master, and he controls all his voting shares and everything.

Mike

But he kind of has three fall guys under head of WhatsApp, head of Facebook, head of Instagram, who do almost the dirty work for him nearly

James

Yeah and have to go to Congress, which I’m sure he doesn’t enjoy doing. 

Mike

That’s why Bezos kind of stepped down as well I’d say, too.

James

Yeah, it’s probably nice to get to a point. That’s probably the definition of success when you get so successful that you just don’t have to answer to anybody anymore. You can just pretty much pay people to do it for you.

Mike

Just go off and play with phallic shaped rocket ships.

James

Blast old men into space. So, guys, let’s hear it then. Obviously, Facebook is planning on renaming. If you guys had the power to rename Facebook, what would you call it?

Anne Marie

I’m going to steal something from The Office, which they at one point, Dwight, when Angela breaks up with him, becomes very sad so much that he doesn’t want to live in his real life anymore. So he creates a second life. And the website is called My Second Life, and he lives entirely in that virtual world for a couple of weeks. And so I think that they should just steal that from The Office and just deal with the lawsuits.

James

It wouldn’t be the first time they stole an idea in fairness. Mike, what would you call Facebook?

Mike

I don’t know. Maybe go back to The Facebook? No, maybe you just go back to “The.” Remember that scene where he’s like oh drop “the”. Just drop the Facebook, drop the whole thing. Just don’t bother. The dot com.

James

Yeah, I buy it, I’ll take it so

James

Yeah, we’ll definitely I’m sure be talking about this again on future episodes of Stock Club. So let’s talk about what’s going on in MyWallSt at the moment. So we just added a brand new stock to our shortlist. And as Rory is away on holidays in Portugal. Hi, Rory. If you’re listening, this is the first stock Anne Marie that I believe you had complete control over adding to the shortlist. So I’m going to do the thing that annoys Rory so much and ask you to describe this company in three words.

Anne Marie

You’re putting me on the spot here. Okay, I have to remember not to say the company’s name. Okay, what if we if we do just the stock highlights. So premium branding, eco friendly and founder CEO.

James

Okay, you’re already ahead of Rory, because you can pull that out of the bag. So we also have more great content in the MyWallSt app too, including Mike’s full write up on the situation that’s going on over at Zillow, and a first look from Rory, who obviously wrote it last week on the glasses seller Warby Parker. Remember, you can check out all of this stuff if you sign up to the MyWallSt app now, just follow the link in the notes for today’s show. Mailbags. For this week’s Mailbag we’re actually going to try to smash a few questions together that we got about a pretty big news story recently, and a company that’s no stranger to the headlines. This is Tesla of course.

James

It was announced last week that Tesla would start offering car insurance to drivers in its new home state of Texas. Now Tesla already offered car insurance in California, but this Texas announcement has drawn a lot of excitement with one commentator that I’ve seen claiming that the car insurance business part of Tesla alone could be worth $1 trillion by 2025. Anne Marie, what do you think?

Anne Marie

A trillion might be a little bit high. We might be shooting for the moon. But I guess that’s what Elon does.

Mike

His math was a little bit off as well. If you saw the tweet.

James

We all make mistakes sometimes Mike.

Mike

$1,000 a year and, like, 10 million people or something.

Anne Marie

Yeah, but I actually don’t hate it. I think it’s a good idea. I think Tesla will have the benefit of having so much driver data that they can probably give really precise quotes to people, and then they can encourage people to drive more safely, and then they can gradually kind of reduce their insurance payments. I think that’s kind of great. And it really reminds me, actually, of Apple Care. You know, the insurance that Apple sells to you when you go into the store and buy a new phone and it’s like, what’s, whatever.

Anne Marie

It’s like $100, and most people just do it. And then the vast majority of people never end up using it. But that Apple care became like a huge part of the early services revenue that they were able to generate. And I know Apple doesn’t break down how much each individual service makes, but it’s estimated that in 2020, they made $8.8 billion just in Apple Care. So this is like Tesla care for your car.

James

That recurring revenue is so important for companies isn’t it, like you think of Apple, and they were a hardware company that sell an iPhone and that’s one transaction. Tesla are the same, they sell a Model X, and they get the money for that. Is this them trying to get that recurring revenue stream, maybe of money in every year?

Anne Marie

Yeah, definitely. It’s a reminder that at the end of the day, Tesla is a tech company that just happens to sell cars, like Tesla is not a car company. And so, yeah, it’s definitely them pursuing that subscription revenue. I wouldn’t be surprised to see them add other benefits to your car that will be done via subscription revenue. They assume that that is actually the model that they’re going to use when they kind of perfect their driverless technology. They think that it will be done based on subscription revenue, with the promise being this will constantly improve.

Anne Marie

So you should have to constantly pay for it.

James

So you’re excited about it, but maybe not a $1 trillion business?

Anne Marie

No, a trillion seems very high. Maybe if like tomorrow Biden is like, I’m going to give everyone in America a Tesla, maybe.

James

Well, you never know Anne Marie

Mike

I think you have to also take into account that people bullish on Tesla might be a bit of fan of hyporbole slightly.

James

I don’t believe you, Mike. Okay. Thanks for that, Anne Marie. So let’s finish off then today’s episode with the elevator pitches as usual. So we’re going to go a bit different this time. I’m going to ask you guys to pick a company. We’re in the middle of earnings season here. So I’m going to ask you guys to pick a company whose earnings you’re most excited about seeing this time around and tell me why. Mike I’ll go to you first. What company are you most excited seeing their earnings and why?

Mike

Yeah, this one’s a mix of excitement and slight anxiousness, I guess, but it’s the one that’s kind of kicking off my own personal earning season and that’s Teledoc. I think everyone in MyWallSt who are, most of them are shareholders are well aware it’s been having a bit of a stinker of a year and stock prices cut in half since February. There was a big shift in sentiment away from kind of seeing it as just a pandemic play. And then there was slowdown in organic growth. There was some big names like Amazon and Walmart encroaching on the market.

Mike

So basically everything going against it, but there’s been some green shoots very recently in the past month, and hopefully now, less so about the numbers, but more so about the kind of commentary and where the company is going from the earnings report we’ll hear a lot about so. In just this past week it launched Primary Care offering, Primary 360. It came first in a JD Power’s Telehealth Satisfaction study, and it’s made great inroads into the Canadian, Australian and New Zealand markets in the last month. So I think it’s kind of, hopefully now, started its turnaround, and we’ll maybe see that this time next week.

James

Do you think the price might have just fallen back down to Earth a bit after all the pandemic hype.

Mike

Yeah, there’s a bit of that too. Everyone’s saying that growth pulled forward in 2020.

James

Yeah.

James

Cool.

James

All right.

James

That’s definitely what I’ll be looking at for anyway, as a shareholder in Teladoc. Anne Marie, what company are you looking forward to, well, maybe not looking forward, what company are you anxiously awaiting earnings from?

Anne Marie

I think I would love to see Bumble’s latest quarterly report, mainly because we’re talking about the Metaverse and the idea of more and more people bringing elements of their lives online. It was interesting to watch Bumble throughout the pandemic continue to grow users and revenue, even as people couldn’t go on in person dates. And so I think the Pandemic might have helped more and more people be comfortable with the idea of finding a partner online through an app. And then even on top of that, like, Bumble is kind of a diversified dating app in that they have Bumble biz, which is kind of like a very casual version of LinkedIn for networking.

Anne Marie

And then they also have a BFF setting, which is just to help people find friends when they move to new cities or stuff like that. So I’m interested to see has the pandemic really helped them kind of acquire users but also push users into these new segments of their business because I think people are now more comfortable with this idea of, oh, I could meet someone online and go and see them in person and that’s not scary. That’s a concept that we’re more comfortable with. And so as things are beginning to reopen in America, I’m excited to see their figures and then also they’re in the midst of a pretty significant European expansion.

Anne Marie

And so I’m excited to kind of see how that is going as the EU continues to reopen.

James

Yeah, absolutely. Looking forward to that. So that’s it for today’s show. Remember, if you have any questions you’d like answered or elevator pitches you’d like us to tackle, make sure to get in touch. You can find us as always on Twitter, that’s  @MyWallStHQ on TikTok, that’s @MyWallSt, or simply just email us at pod@mywallstreet.com that’s P-O-D @MyWallSt.com

James

If you’re enjoying the show, make sure to tell your friends about us and don’t forget to leave a review or a rating for us on whatever platform you listen to Stock Club on. Thanks for joining us today and we’ll talk to you next week. Bye.

Ready to start investing in stocks with huge potential? Check out our list of market-beating companies so you can get on the path to financial freedom. Subscribe now to get a 7-day free trial.