In an exclusive interview with RacingTipster.com, Gypsy billionaire Alfie Best laid into Prime Minister Keir Starmer over recent policy announcements and revealed that he has been asked to help solve the migrant housing crisis.
The entrepreneurial owner of Wyldecrest Parks also revealed why he left London for Monaco and how restrictive planning laws prevented him from building a £50m skyscraper in Essex.
Question: Alfie Best, entrepreneur, business mogul and chairman and founder of Wyldecrest Parks, thanks for talking to Racing Tipster! We know you left the UK last year to reside permanently in Monaco, so what brings you back today?
Alfie Best: I had to fly back today to do a board meeting and a couple of other meetings, but they were just 5 and 10 minute meetings.
Q: What has been the biggest change for you since moving from the UK to Monaco?
A: The biggest change is a mindset change? In Monaco, everybody speaks English there. It’s a big British community there. It is like a different world. It took me probably a year for my mindset and also not only my living circumstances, my business mind to change in many different ways from banking. And you get an outside view of how British business works and how we’re actually capsulated in the uk. And when you then step outside, I don’t want to use the phrase that it turns you into an international businessman, but it allows you a much better synopsis of what’s going on. As opposed to being really involved in the intricate day-to-day of the business decisions.
Q: So do you look at the UK from an alternative perspective now and see what direction the country is going in with Labour now in power?
A: Look, I’m not a politician and I don’t believe in making myself an idiot by talking about things I know nothing about and I’m not a politician. But I know one thing, neither of the people that are actually running the country at the moment, because none of them have ever had a job. None of them within the government at the minute have.
Now I’m not for Labour or against them and I’m not for Conservative or against them, and I’m not for Reform or against them. I’m for the man or the woman that runs the country and we’ve had some fantastic leaders. Margaret Thatcher. Tony Blair, John Major. We’ve had some very, very good leaders. Astute people that had one synergy that ran through them. They all cared about British business. Every one of them. And without British business thriving for Britain, Britain’s going to sink.
Q: Margaret Thatcher said ‘Britain is a nation of shopkeepers’, is that how you saw yourself growing up? Wanting to make money for yourself and progress in that aspect?
A: I think the country’s policies on business don’t work. And what you have, and I heard a phrase the other day, is that ‘they’re playing the political game.’ But the trouble is when you are playing political games at such a high level, it has massive ramifications. Now, when I was here in the UK, the government didn’t like what we did as a business, and the reason they didn’t like it is Park Homes doesn’t deliver them the taxation of what housing does.
No stamp duty, no land registry fees. Band A council Tax. I could go on and on, but I’m not here to discuss the benefits of Park Home Living. What I think what you are saying is – We have a housing crisis and we also have a population crisis that we can’t fill.
The population that’s coming over. You keep drilling holes in the bucket, it doesn’t matter how many times you fill the holes. If you’ve got somebody on the other side drilling holes, the water’s going to keep leaking out. And at this moment in time, we’ve now had different boroughs and different councils, it would be unfair of me to mention who it is, but they reached out to me whilst I was in Monaco. And asked me, would I come and develop sites for the immigration population that’s going into the country. I think they’re looking for any solution they can get. And I’m going to be very blunt with you. The solution isn’t rehousing immigrants. The solution is to stop them, right? Nigel Farage said they would stop them at the beaches and quite rightly. We seem to in the UK be saving everybody else except saving ourselves. But unfortunately that doesn’t work. I got on an airplane coming here this morning and do you know the first thing they told me? ‘Put your Oxygen mask on and save yourself before you consider saving anybody else.’ We seem to be saving everybody else and suffocating. If Britain doesn’t put itself first, it will come last.
Q: Have you started your new company yet in Monaco?
A: No. We’re in the process of doing it. It’s not as easy to start a company in Monaco. You need the license, and if the licenses aren’t available, you can’t have one. They don’t allow just an influx of business just to start. You need a license and it takes anything from three to six months to start a business there. And that’s if there’s a valid license available. Now we are in the process of starting an events company. I think it’ll be a very good company because I have that in the UK, which is already trading. There’s a lot more safety nets for business. And there’s a lot less competition. They limit the amount of licenses. So in simple, if you want to open an estate agent, you can’t. The licenses are finished. If you want to open up a car dealership, the licenses are finished. The only thing you can go and do is buy the business. So the businesses in Monaco always have a value. They very rarely fail, because the license has a great value. So not many people open businesses and go bust? Not at all, well, I’ve not heard of a business going bust in Monaco.
Q: HMRC harassed you to the extent where you had over 40 cases in seven years…
A: 47 tax inquiries, lasting over seven years. Do you know what I would say? They’re running out of money, so they’re trying to shape the tree wherever they can. And look, I’m not the only one. The amount of people they’ve lost. I heard that Mattel left the other day and gone to the UAE. But he didn’t only leave, he took 200 of his best employers. So it’s now you’re not only losing the wealth from the country. You’re not only losing decision makers in business, you’ve now got a real brain drain. It’s concerning for the government. They’re not thinking of the long term when planning with their short-termism. I think they’re trying to buy votes.
Q: What’s the best thing about living in Monaco and the lifestyle, they had the Grand Prix there recently..
A: If you asked me what the best thing about Monaco that shines out above everything else, is total and utter safety. You can walk down the street without worrying about wearing a watch. I don’t wear a watch, but I haven’t worn a watch because I’m mentally still a Londoner. And I wouldn’t wear a watch there, no matter whether I can have a fight or not. I’m putting myself as a target. And unfortunately that’s the reality. I watched TikTok and in Monaco all you see is Britain and tourists in London being robbed of their phone and their watches.
Q: What brand is your yacht and what kind of yacht makers would you recommend?
A: The yacht that I own is a hundred foot Sunseeker. The name of the yacht is called Wyldecrest, which is the same with the company. Again, everything that I own is a business. So that yacht is chartered, it’s owned by the company. And when I use the yacht, I charter the yacht as if I didn’t own it. It’s pretty much the way the world works and how the law works. If I didn’t charter it, I’d be taxing on it. It’s crazy, but it’s the company that I’m doing it for. So because the company owns it, I have to charter the yacht. Which we do. Everything that we then bought is a business tool. And we buy it. If it doesn’t make money, then it’s not an asset, it’s a liability.
Q: Tyson Fury has previously criticised Lewis Hamilton for tax dodging by relocating to Monaco. Have you heard from him recently?
A: Yeah, I saw Tyson over the weekend. And to be fair, I think he’s fantastic for boxing. The reason being, it’s not just that he’s a good boxer, he’s a flamboyant character. And I have to say, I think it will be a sorry day in history if he comes out the sport and completely retires. I hope he comes back. I hope the AJ fight happens. I think it’ll be a fight that would be brilliant. I would love to see everybody involved in it. From Eddie Hearn to Barry Hearn. Everybody needs to be involved in it, and I’ll tell you why they need to be involved in it. It is a great British battle. And I’ve had people say to me, ‘do you not think the time has passed now?’ Of course it hasn’t passed. Because people still want to know who was the better fighter. Well, can I be honest with you? I actually think they’re better boxers now than they were five years ago. And the reason being heavyweights are not like lightweights. Heavyweights can go on until they’re 40 and longer and come back better.
Q: Tyson Fury is reportedly worth about £150 million, so he is not exactly on your tail, but he’s getting there…
A: Can I be honest with you? Anything past 10 million pounds in life is not going to make much difference to your life. You can pretty much do everything that you don’t. And look, I think the Sunday Times reported me around 944 million or whatever it is that they’ve calculated it to be. The telling part of that is I went down in their estimation in wealth. But I went up the list by five places. That tells you how many people are leaving. So I’ve gone down in wealth, but got up in the list. That’s crazy. If I’d lost money, I should have gone down five places. I thought so.
All of these little things that we’re talking about should be real wake up calls. But let’s not forget one thing. It wasn’t the Labour government that implemented the non-dom. That was the previous government. And I’ll be honest, I thought Rishi Sunak was going to be brilliant. Let’s put it this way. I think he’s quite shallow and I actually thought when he came in that he was going to be the second coming of Christ. And the reason that is, he’s perceived as a businessman. He’s come from an immigrant family. He’s done well himself.
He married well himself. But the moment he got a bit of criticism from him, he then got criticism for marrying well because his father-in-law is a billionaire. He then said ‘I’m going to tax the non-doms.’ To me that was weak.
Q: What’s the best advice you’ve ever received? Because I imagine your father was probably a big influence growing up.
A: My father was a wonderful man and I love him, and he’s my advocate beyond everything. The best advice that I’ve ever received is ‘don’t look for the right advice from the wrong person.’ And that is key to everybody’s success in life. And what I mean by that is, you see people sitting in the pub screaming at the telly. Who’s the bus driver? Nothing wrong with that. He’s an expert at driving the bus, collecting his passengers in a safe way. That’s an expert’s job and it is. But he then decides to make himself an expert in football. And say that David Beckham’s an idiot because he missed a penalty. Don’t go to him to ask for advice on that. Ask him for advice on driving the bus. Specialists in their field, go to the right person for the right advice.
Q: You wrote to the government twice before with no response, can you elaborate on that?
A: It was Boris Johnson. We wrote two white papers on how to help solve the housing crisis back then and it was with the model that we do. And we never, ever received a reply. Look, I can imagine they get a lot of letters, but it takes an awful lot for me to actually sit down and pen a letter. Unless I feel very, very passionate about it, but I consider myself an expert in the park home industry. I’m not an expert at many things. I’m an idiot at a lot of things. Listen, everybody in the world is an idiot. Everybody is an idiot. Me included. But also, everybody is a genius. Everybody is an idiot. And everybody is a genius. Albert Einstein was the first man that ever said this. He said, ‘don’t ask a fish to climb a tree. Otherwise it would think it’s an idiot.’ So let’s look at the education system. If you’ve got a monkey in a room, a giraffe, a lion, a fish, a snake, but yet they’re all being taught to climb the tree, only one of them will be a genius. But all of the others are geniuses in a different field. The key in life is to find what you’re exceptional at, what you excel at. It can be window cleaning. It can be being a football player, it can be being a boxer, it can be being a promoter. It can be being a flamboyant presenter. Find that one thing that you excel at. And that is the key to everybody’s success in life. And you will then become your genius. And the genius for everybody else, what everybody else wants to talk to, what everybody else wants advice from. But don’t get the wrong person to give you the wrong advice. So you are going to the plumber to ask him to do the electrics? He’s not the genius in electrics, he might be able to fiddle around with it. But he’s not a specialist.
Q: Can you talk more about your business in the UK and any future plans?
A: We have 16,000 residents across the UK. We have 120 parks throughout the UK. We’re now investing further into the US. We’re investing further into Barbados and we are in the process of buying property in Monaco.
Q: Do you think there is still a stigma of living in a mobile home or has that been diminished?
A: No. No. Are you talking about my heritage or are you talking about mobile homes? Well, let me say this to you. Mobile home parks in the UK are far superior to the ones in the US. And one of the things that I noticed very, very much in the US, every trailer park that you go to they’ve got a brand new car parked next to a very old rundown trailer. And I couldn’t seem to get my head around it, but it’s because of the economy in America. Everything’s built on credit. So they can afford to buy a new car because they can get credit straight away. Credit has been stopped to buy new trailers. So it tends to be much older trailers. And what we are doing is we are looking to implement much more of what we do over there like what we do here, our first dipping our toe in the water out there, I nearly lost my shirt. But we managed to turn it round, and I’ll be brutally honest with you. It was more luck than judgment. But what happened was we bought some mobile home parks in Lumberton, which is in North Carolina. They were very rough. We repaved the roads. We put new communal areas in. We put barriers in, but it doesn’t matter what you do to the castle. If there are clowns inside, the castle will only become a circus. You have to change the mindset of the people inside the residents to turn them from a circus to a kingdom. And we couldn’t do that. What happened? We were going there to collect the rent and we were being told ‘no, you’re not getting paid.’ And there were drug dealers there, there was prostitution there, there was a whole thing on these parts.
It was about controlling it. And I wasn’t wise enough, ugly enough, brutal enough to be able to control it. And I nearly sold up and I nearly left and nearly made a loss of some sort of $5million. But we found a way. And it was, like I said, it was luck, just about perseverance and perseverance. What I did was, I spent another $500,000, it was five parks. I put a new trailer, double wide trailer park home on the front, bricked it round, put in a yard space, play area for kids on the front. So it looked beautiful. And then I leased it to the local sheriff’s department for free. Gave them a five year employment as long as their deputy lived there overnight So now the community had something for free. They had better homes than their deputies. We were giving up. But all of a sudden the drug dealers and prostitution left. It was like a cloud. Until that point, I was beaten. I don’t mind telling you we were beaten. You have to look to be successful. You have to embrace your failures. You have to be prepared to talk about your failures because if you can’t fail, you’ll never win. There are no winners that didn’t lose. Somewhere along their line, they got beat down. As long as you can learn from that, you don’t start from zero again. You start with experience. A bit like boxing. There are people who have been unbeaten in boxing. Floyd Mayweather. And I consider Floyd Mayweather one of the greatest boxers that ever existed. Not because I consider him the greatest boxer. Because he was the smartest. He knew when to pick fights. He saw when people were on a downs slide. He saw the best opportunity to pick a fight. As well as that, he was an exceptionally skilled fighter.
Q: Can we get an update on your plans to build the Essex ‘Burj Al Gypsy’ skyscraper?
A: That was a phrase made up by the Sun! The truth of the matter is I don’t think that we’ll be doing it. I was going to do it, then I saw the policies that were being implemented that seemed to be very anti-business. The revenue was not making our lives any easier, and it was decisions based on that that then said, why do I go and invest 50 million in building a skyscraper in Essex? You go to other places and planning permission is welcomed and do you know how long it takes to build a country from nothing? So if you look at Dubai, that kind of infrastructure. It came from a sand spot to a renowned world destination that everybody knows that has now more millionaires than billionaires. It’s in the top 10, I believe in the world. And don’t forget, it’s half the size of the UK. If I hadn’t settled in Monaco, I would have gone to Dubai. Monaco is where I have a lot of friends and you’re pushed together so birds of a feather seem to flock together.
Q: You are involved with East Thurrock United but do you think Sir Jim Radcliffe is having big regrets about getting involved with Manchester United and football?
A: I’ll tell you exactly what happened with East Thurrock. The club was closing, so we bought the ground. We bought the ground and we bought the club. I paid off all of their debts and then handed it over to the management to run it. But do not come to me for any more money. They then ran up debts and also ran up VAT debt and I wasn’t prepared to bail them out. And then I started getting criticism from the fans of where I should spend my money. So I said, ‘well, if you don’t like it, I’ll show you.’ I’ll save something once, but I won’t save it twice now. We were always going to move East Thurrock United to another ground. And we bought that ground. We bought the old Pegasus country club. Which was a much better site, 22 acres. I was going to build a new stadium and we were going to develop the old East Thurrock for housing or even a mobile home park. That was always clear. And by developing one , that allowed us to develop the other and make a profit. I’m not here as a charity. I’m very clear. I don’t paint myself up as a do-gooder. I did buy the club to stop it from closing because our business is located in Thurrock and I have a duty of care to Thurrock. Because our head office is there. Businesses are there, and I’m from Forest Gate, from East London. So there is a love for it.
But when you have people, again, this is the bus driver criticising David Beckham on the TV, telling him he’s an idiot. Now, I’m sometimes not the best person in the world to talk about what people should say, what they shouldn’t say, because I tell it the way it is, and people don’t like that. They want to be flanneled and told that the sun’s shining. But, unfortunately it rains a lot in Britain.
Q: If you could sit down with Keir Starmer for one minute and ask him ONE question, what would it be?
A: One question wouldn’t do it. If I could sit down with Keir Starmer, I would ask honest questions. And those questions would be this, I would try and calm my passion down. Because I feel on the last subsequent deal that he did, I thought he sold out the British working population and somebody said something to me the other day, which was so absurd. And I’ll repeat what they said. But then I started thinking, ‘is that possible?’ And how we sold out the British people was by doing a deal with India to allow Indian immigrants to come here under a visa and pay no national insurance for three years.
And the companies that employ them. So do you know what? We’re going to employ a lot of Indians now from India. Do you know why? We save 30%. 15% they don’t pay, 15% we don’t pay. Now, a lot of people that will watch this will say, ‘are you selling out for British people?’ Yes. That’s what this government’s forcing people in companies to do, because if you don’t say 30%, you can’t compete with the rest of the world.
You can’t compete with the rest of the country. That was a sellout of magnitude beyond belief. And I’m a gypsy, so I’m an immigrant, but I’ve never seen too many immigrants leaving.
I’ll tell you what needs to happen to Britain. Needs to stop apologizing for its past and start celebrating its past. We gave India, we gave Pakistan, we gave America the blueprint of society. Who do you think implemented the laws? Who do you think implemented the infrastructure? We get criticised for taking, but we don’t seem to get celebrated for what we gave. I consider myself as a true British patriot and it grieves me nothing more than to have to leave the UK. Because I don’t mind paying the tax. I was happy paying the tax. I still do pay the tax. But you keep beating somebody. There’s only one door they’re going to take, and that’s the door out. That’s why wives leave husbands and husbands leave wives. My son’s leaving the UK to go to America. But there’s no tax advantages in America. My daughter is still here running the company. How long will she stay here? I don’t know. At the moment, you have a bad relationship with the government and the British people? The only people that are celebrating Labour are the people, or let me rephrase that. No. The only people that are celebrating Starmer are the people you are paying. That’s the people that are getting free houses, free money. And yet they still can’t solve the British homeless problem. I find this ludicrous. I’m sorry.
Q: Are you or your son interested in Cryptocurrency?
A: Yeah, I think my son does a little bit with cryptocurrency. I don’t, because I don’t know enough about it. I haven’t taken the time to sit down and study it. I haven’t taken the time. I’m not enough of a small expert to dip my toe in the water. Do I think it’s something we should do? I think if you can afford to lose a sum of money, you should be investing in it. I see plenty of upside. But anything that I see with cryptocurrency. People are riding on the waves of it, because at the moment the waves are surfing well. But it’s untested. It’s unknown, but I hear great stories and I hear some sad stories. I’m a very old fashioned business person. I like to feel, touch and see. That doesn’t make me a good businessman. That just makes me an old fashioned businessman.
Q: What are your views on artificial intelligence and how it will affect industry etc?
A: I think it’s going to take over the world. Let me tell you what I believe artificial intelligence will do. We are just seeing the tip of the iceberg. And what will happen is AI will categorically be doing virtually 80% of every job. As the robots get better, as AI gets better, as learning gets better, what will happen is those companies will then be taxed on the AI they use, not the employees. Because the employees will slowly have to take social security to live. They will be paid at that time in an electronic currency because governments have got to catch up with crypto. Governments will bring in and they will start to limit, and you’ll find, I believe cryptocurrencies will become a black market trade.
If it can’t be taxed, governments don’t like it. So at the moment they’re trying to tax it, but they’re failing because it can be moved around so easily. That’s an uneducated view. It’s the ideology of an idiot. I’ll say this to you very honestly. Companies, individuals should be pleased to pay tax. The reason for this, it shows that you are profitable. Fairly taxed is a better word to put it, but well implemented, taxed, paid for services. Well, taxed, paid for police force. Well taxed. Paid for councils that run diligently, run great countries. Historically, any social government fails. Every country throughout history has failed if they’re a social government. The reason for that is the government run out of spending your money. There’s no value.
Q: In terms of your gypsy heritage, obviously you are very proud of the community that you’re from. When you go back there now, what kind of reception do you get?
A: I’m no different than I was yesterday. I just want to be clear, I’m not proud that I’m a gypsy. I am a gypsy. I take the skeleton out of the closet before somebody else does. Look, with a gypsy, it comes with a stigma. Liar, cheat, and thief. I was good at all of those. So that’s the stigma. So because that’s the stigma, the bar is set higher. If you are on the lowest rung of the ladder and you are on the poorest run of society, you will do anything to feed your family. We would even become cannibals. You only have to watch the film ‘Alive’. A plane crashed with well educated, wealthy people that were a rugby team on board and they resorted to eating each other. Alternatively in each other. Why? Survival.
Gypsies have not had their time to shine because they’ve never come out. But there have been some superstars. Charlie Chaplin, Elvis Presley, Mother Theresa. All of these have hid their identity because of that stigma. I hid mine, but I got to a point where I got to approximately 35 years old and felt if a man is not true to himself, he can’t be true to anybody else. So for me, I now look at it as if a dog is born in a stable, it doesn’t make it a horse. So you are what you are. I think it allowed me to find my own peace.
When I was growing up, I’m deadly serious. I’d be driving along in the motor with my dad and there’d be the police coming the other way and we have done nothing wrong. My dad would say to me, don’t say your name’s Alfie, it’s Bill. I’m not your dad, I’m your uncle. We don’t live there, we live over there. Jesus Christ. I didn’t know who I was and where I was and who I was related to, but that’s an in depth fear. I say this to everybody and I don’t want to become political on this but Gypsies are the last legally segregated people in the world. Legally segregated. Crazy. Now you are wondering how is that possible? Well, okay. Every Gypsy site throughout the uk, the planning permission on those sites do not allow non gypsies to live on those sites.
And if a gypsy has a mobile home site that has planning permission for gypsies and he rents it to a non gypsy, that’s a criminal offense and people have been convicted of the crimes and fined and gone to prison. And I’ll give you the names that’s You say why? Well, who knows? It could be a crack in the justice system maybe. But my point is it is true. But gypsies are white. Because we are white, we are seen as white. I don’t see myself as any different. They’re facts. I gave a speech for the Dynasty partnership in Monaco, which is some of the world’s ruling families tended to be mainly Jewish and gypsies and Jews were all persecuted within the war. They were the ones that were gassed. And so there was a bit of a kindred spirit and I couldn’t believe how much persecution the Jewish community is actually coming under at this moment in time, and especially within the American universities. There’s protests now. Yeah. And that they were, I was shocked.
They’re another race of people that seems to have turned the tide again. But do you know what I would say? Until you accept who you are. You can’t be anything to anybody. So for me, I want people to like me for what I really am. I want them to like me for what I am, you know? And I consider myself as a learned person that has embraced what I didn’t get in my early life.
Q: Do you think about your legacy or are you too focused on the present?
A: I want to create a legacy family if I can. We are the fifth largest mobile home park operator in the world. We are the biggest mobile home park operator in Europe. If I have the good grace of God, not that I’m a religious person, but I think we all need some sort of faith to cling onto. I would call myself more of an agnostic. I believe there’s something, but just not in the form that we’re told. I would like to create a legacy that lives on beyond me and my family. And that’s one of the, that’s one of the other reasons that I also left the uk. You can’t put your assets into a trust in the UK. You have to leave the UK for 10 years. It’s mad isn’t it? Because if I don’t leave the UK and I put it into a trust, I have to give them 45%. If you die here, you have to give them 45%. I’m not sure if you understand about death duties, but that was a tax that was brought in after the war, which was supposed to be a temporary tax and they’ve just kept it and then they’ve kept it. We are one of the only countries in the world that does it. We’re one of the only countries in the world that does it. I was talking to a friend of mine outside earlier, and I said, when you’re in the UK you can become cocooned and your mindset is of a British businessman in the UK. When you step outside it really is like looking through the glass. We accept it.
One of the things that’s really telling was when the government played around, which the Americans do have by the way, with an exit tax. That, to me, was total fear. Because, and I think they’ve now missed the boat, but I think they wish they’d done it. We’ve got a re-entry tax. Friend of mine. Very, very wealthy man. One of the biggest hoteliers in the world. Two brothers have been very, very good to me in Monaco. This is a man that’s worth £20 billion. He was coming back to the UK. They tried to charge him £50 million. No thanks Really? On what planet would you do that? That’s like a customer coming through the door, telling you he’s going to spend money and going, I’m going to charge you to come in. Yeah. And then Christ, he’s surprised when he does a U-turn and needs back out the front door. Yeah. What it is, and what I’ve realized is politicians never answer a question. They’re constantly talking about, well, no, it was for this reason and that reason I didn’t ask that question.
Q: If Tyson Fury came to you for some financial advice, and had say £150 million to invest or to purchase some assets, what would you advise him to do with his money?
A: Never invest in what other people are telling you unless you’ve researched it first. Because otherwise, if it goes wrong, you only tend to blame that person that gave you the advice as if they’re a guru. Always be responsible for your own decisions. I’m in love with property, so my advice would always be based around property. The question that you’ve just asked me, I want to give you a very succinct answer, which is very difficult for me to do at this moment for this reason. Over the last six months, I have learned new banking situations where you can bank money and convert that into currency where you earn an interest of say 4.5%. Take a Lombard loan on another currency and pay 1%, say like the Swiss Franc. And then you can then reconvert that currency back again to any other currency that you need because it’s obviously backed up with currency that’s in there. And now you have access to your money and you’re earning 3%. You’re paying 1% for the Swiss bank. Then I would invest the money and I would invest it into something like property that’s got very good covenants.