Cash In On Commercial Real Estate | Titan Impact Group

So welcome, everyone. This is Katherine Bell with Titan Impact Group, and I am really excited to share with all of you something that I've been talking with all of our investors about. And I know that a lot of people have a huge amount of interest in. And what that is is commercial real estate. How we add commas to our bank accounts with commercial real estate. Yay. So, as you all know, I am Catherine Bell, and that's what we do, we Titan Impact Group, and our team is that we leave every person, property and community better than we found them. And so that's a huge part of what we do at the commercial level. And that's what we're actually going to be talking about today. So with us, I have my partner, Adam, and you're going to learn more about him. I know a lot of you have heard me talk about Adam, but you actually get to meet him today, which I'm really excited about. And so we're. Yeah, we're going to dig into this and dive in. So, Adam, if you want to. Perfect. So first of all, just a disclaimer is that we're not offering, you know, there's no offerings being made here. We are not financial advisors, legal advisors, anything like that. You want to make sure that you are consulting your accountant, your attorney, your entire legal team to make sure that we, whatever investments that you do make, whether it be with us or anybody else, that you are getting that legal counsel. And understanding the full ins and outs of the entire project, Adam can tell you that's really, really important. Make sure you understand the contracts and what's actually happening. So ask lots of questions. So we just want to say that up front. So next is, who are we? So Adam and I have been investors for, goodness gracious, a very, very long time. And what I love about working with Adam is the pieces that he brings to the table that a lot of people aren't aware of. And we're going to start bringing a lot of awareness to this. One of the things that I really love is what they do with their actual commercial lease program inside of growing businesses. And also the other piece that I know isn't here, but I am going to plug this, Adam, is they have a WHO program that they created where they actually help tenants renegotiate and negotiate their leases and everything that goes along with it from that. And I know that they literally have saved clients tens of thousands of dollars through being able to renegotiate leases from that perspective. So know that you can also reach out to him for that so in the meantime, what I really love is what we're going to be talking about today, which is how they use this lease program to help small business owners, medical professionals, things like that, be able to expand their businesses by leveraging tools that are out there that most small business owners are not aware of. So one of the things I talk about is if it's your genius, it's your job. If it's not your genius, it's not your job. And so what I love is that Adam and Fred, their genius really is this tool that they have to be able to use these leases to be able to help small business owners not have this huge capital outlay to expand their. Their offices or facilities. And we're going to talk more about that. So that definitely is Adam and Fred's genius. Yes, it's very exciting. So, as you all know, I am Kathryn Bell. I am the founder of Titan Impact and radio show host, author. You know, really, at the end of the day, just adding commas to bank accounts. That's what I love to do.

She does lots of awesome things.

So then you can keep going. So my, you know, what I like to talk about is my passion really is why do I do all of this? And I invite all of you to really dig in and look at why do you invest, why do you add commas to your bank accounts? And for me, at the end of the day, it's about. I created a nonprofit called Bell Community Empowerment Foundation. We focus on getting the. There's over 500,000 children in the US foster care system, and 350,000 are available for adoption today. And it actually costs less than $1,000 to adopt. I was adopted when I was 16, and I adopted my twins when they were babies. So it's huge on my heart. And that's why I do everything that I do inside of leaving every person, property and community better than we found them. So, yes, we love to add commas to bank accounts. And I really want to know what your why is and why you want commas added to your bank accounts. Really, what's the difference that you're here to make? And we'll talk more about that. So we talked about Adam. He's. And I'll dig more into Adam. So fred. Fred has 35 years of experience inside of commercial real estate, which is really great. And you can see here, I mean, just an extraordinary amount of experience. He's been on bank boards, done all the ins and outs of commercial construction. I mean, the man is just a wealth of knowledge and Expertise. And when it comes to, I don't know there's anything Fred doesn't know around commercial, is there?

I would agree. He's, he's been through it all. He has an immense amount of experience that just cannot be duplicated any other way than just sludging out, you know, 3,500 plus transactions. And that's successful transactions, not including probably two times that amount that he's worked on that ultimately didn't do. But yeah, just as a wealth of knowledge and has a great experience and, and I've always felt fortunate to be partnered with him and to have him as part of the team.

I feel like Fred's like, if we, if we, if. How do we say this? Like he would be the Google for commercial.

Right, right. It's like, yeah, if you got a question or situation, he can go, oh yeah, I've been there, done that. I can tell you stories. Yeah, he's definitely that guy.

Yeah, it's pretty amazing. And then of course, here's Adam. And so Adam's got his MBA and again, 18 years of experience and everything that Adam brings to the table, he's just seriously one of my favorite people to actually work with and do business with. Adam and I have done multiple deals together from residential development, commercial development, Airbnbs, hedge funds. You and I have done a lot together.

We have.

What I'm excited about is what he's actually going to show you today, which I, again, I'm really, really excited about how they do what they do that creates a win win for everybody, you know, from our investors to the, the buyers, the sellers, like just the entire team, which is really extraordinary. And then together, Adam and Fred again, what they've created. So back in 2005, these two have been actual partners and done so many developments together. And again, just creating really extraordinary out of the box thinking ways of getting commercial deals done and funded. And again, it comes down to that, Key consultants, which is the virtual corporate real estate department for tenants. So if you have, if you yourself are leasing any commercial space, I invite you to consider reaching out to Adam and having him just review your lease, because I promise you they're going to see things you weren't aware. That'll probably save you thousands, if not tens of thousands of dollars. So enough about. I'm a raving fan of that program. So. I'm gonna have Adam, he's the expertise here and yeah, he's. Go ahead and take it away, Adam. This is exciting.

Thank you. Thank you, Catherine. Yeah. So I am excited to Jump in and share some of my, my thoughts and experience and knowledge regarding commercial real estate. And to start out, I always like to say, well, what is commercial real estate? You know, Catherine and I over the years and working with a lot of different investors, there's a lot of gurus out there that try to show you about commercial real estate. And in reality they're just trying to show you, you know, a duplex or a triplex or something like that. In my world, that's not commercial real estate. Commercial real estate are things that maybe, you know, you drive by every day, but maybe you wouldn't think of. It's big industrial buildings like what's shown here, distribution or manufacturing space. It's massive office complexes. And even in the office sector there's several nuances from medical office to lab space type office to kind of what, what Covid has done is really change the office space. With a lot more people working from home. You're seeing a big shakeup kind of in the office industry. In the office sector right now. In the commercial real estate world you also have, you know, hotels and motels that can be as fancy as this or it can be the, the dive of the Motel 6 just down the road that you're a little afraid to drive by at night. But that's also considered a commercial. You have retail that can be again, as fancy as, you know, Starbucks or it can be as, maybe as small or as unassuming as a tire shop or as a local mechanic or something like that. But those can all fall within the retail sector of commercial. And then of course you have apartments, which I'm sure anybody who's read anything about real estate is seeing right now what's going on in the apartment world and the apartment apartment trend. And just the, the kind of, the crazy returns that some people are able to get and this, the, the numbers that they're selling for, they just, it's, it's a little out of this world right now. But also apartments, larger apartment complexes. And then we can't forget about storage. And again, a lot of people think about storage and they see, you know, what's depicted here of self storage, but a lot of commercial storage can be too of just raw land where you have contractors, yards. We have a lot of clients and investors that they focus just on that. Buying a raw piece of dirt, putting up a few chain link fences, running some power and setting up individual contractors yard that allows that small business owner that has some equipment that needs to be stored to have a place to store it. And they can be very successful in creating that storage space as well. And then, of course, Catherine's expertise more than mine, and the amazing things that they're doing regarding RV mobile home parks. And you know, Catherine and her team just successfully bought last year, Jake's RV park in Arizona, and they've already increased significantly the income that comes from a good operator, and that's definitely her world. I can touch a little bit on underwriting and looking at these deals, but when it comes to operating one, it takes a very unique skill set. And Catherine has found that with her team that they can go in and operate these mobile home parks very, very successfully and create safe places for families to live, while also increasing the cash flow that can come from them. So we have a lot of projects around that coming down the. Coming down the pipeline, and we'll be excited to share those with everyone once they. Once they're ready to be shared.

Yeah, on this one, we. We've had it for 90 days now, and we actually increased the profitability by 19% already.

Yeah, in 90 days. It's incredible.

And that matters. So who your operators are absolutely matters.

Yeah. So I think definitely make sure that. I know Catherine will touch on this later, but there's an investment portal. The information for that will be there. But these mobile home parks, it's going to be pretty exciting to see what we roll out later this year in that world. Really quick on the commercial, I want to do a little bit of education piece. Zoning is very, very important in the commercial world. And here's the hard part. Every city, every municipality across the country, they all have their own zoning regulations. They're all different and they are constantly changing. And most of the lawsuits in the commercial real estate world stem from an not understanding zoning, not understanding that in a particular city. For example, in Tempe, Arizona, in the residentially zoned properties, there's, I think, 10 different zoning classes that all have different setback requirements, different density of how many units you can put on there, how big of a house you can put there. And then in the commercial world, same thing. You can have commercially zoned property, but it'll get very down to the details where specific uses are allowed or not allowed in commercial zoning. So I would absolutely say, if you're interested in working in the commercial real estate space, make sure that every transaction you look at, you're investigating the zoning for that specific municipality. And don't just assume that because the zoning was right last year, it's going to be right again this year, because again it's constantly changing. And then you have some states like Texas, where the zoning laws are 180° different than Arizona zoning laws. And so it can create some real nuances and it can create some. Sometimes it can be liberating that you can do more than you thought you could. And other times it's. It's hurtful because you have somebody next door wanting to open a business that could negatively impact you yours. So absolutely. I can't stress this enough. Make sure that you're always checking in on the zoning laws of where you want to be operating for the specific business type that you're going to be doing. Katherine, don't you have a good example about that up at Jake's and right next door to you guys. You want to tell that story really quick?

So we. So it's called Jake's Corner and it's been there since the 1800s and it was. It was actually a stagecoach stop back in 1800. So it's kind of cool. So we like to keep the history to it. And on that corner there's four businesses. So there's a general store, there's a little like saloon kind of bar thing, which is cool. And then there's the RV park, which is we own. And then behind all that is a storage facility, which you were talking about storage, right? Yeah. So it's supposed to be just supposed. Chain link fence, whatever. Anyways, some people have moved in even though they weren't supposed to. Anyways, the other night we literally got these pictures that there was a whole. One of the RVs actually caught on fire and it exploded. And anyway, so it's kind of crazy. So.

But yeah. And again, it's just. It's just interesting that there's literally nothing like depicting like Jake's RV part from Jake's Storage other than different properties and different zoning on what you're allowed to do there.

It's literally a chain link fence that. I mean it. It doesn't make sense for the zoning to be one here on this piece of dirt and a foot over this on this piece of dirt.

Yep. But it's drastically different. Right. And the value in how you value that property and what's allowed there versus what's not allowed there.

Yep.

Next thing I want to touch on really quickly is the different types of leases that are in the commercial world. A lot of times people think of just a lease as a lease is a lease, and that's definitely not the case, especially in the commercial world. A lot of what we focus on is Leveraging the capital behind a commercial lease. And so as you look into that, and as you dive into that, the best way to leverage a commercial lease is making sure that you have the correct lease in place. That gives the tenant and the landlord the appropriate protections to really unlock almost an indefinite amount of capital that can chase after that commercial lease. So really quickly, we'll just touch base. So there's what's called a gross lease. Some people call it full service or industrial gross lease. And what that basically means really quickly is that the tenant pays a flat amount every month and then the landlord figures it out from there. So this is really apparent with some office buildings and some industrial buildings. But it's really set up more for maybe not as financially stable tenants that they need to be absolutely assured of what their monthly rent expense are going to be. So let's say they're going to pay five grand a month. That's all they're going to pay. If property expenses go up or down. That's kind of on the landlord to take that risk or reward of those property expenses. Modified gross. I don't care what you say or who tells you this, there is no hard and fast rule with modified gross. You'll have a lot of customs where it's customary in certain markets and in certain parts of the country, and certain asset classes that the expenses will be split up between tenant and landlord in a customary fashion. But again, I would just strongly caution you to make sure you read every word of that lease, because there is no standardization there. The idea is that tenant and landlord basically come together and they agree on some of the expenses being the landlord responsibility and some of the expenses being the tenant responsibility. And then there's what's called a triple net lease and a triple net lease. The premise is that 100% of the expenses associated with that property are passed along to the tenant. Right. So the landlord is not going to participate at all in the risk or reward of the management of that property. So if, if you're in a part of the country that has a lot of snowfall, you get a big blizzard that comes in, that's on the tenant to figure out how to, how to get the snow removed, or it's on the tenant to pay for that. If you get, you know, a AC system that goes down, that's on the tenant to figure out how to, how to get that fixed or maintained. And so the triple net lease is really set up to where the tenant is taking a lot of the management and the financial risk associated with the Actual real estate. And again, this is all very generalized information. There's nuances in each one of these. And I just will reiterate again to please just read the lease and to get a better understanding and, or to.

Reach out to you and your team and have you on their side helping them understand it.

Absolutely. That's what we do. That's what Fred's done and I've done for basically our whole careers. And so again, just really quickly, the summary. So a lease type full service the premises, the tenant doesn't pay for anything. The landlord pays for all the taxes, insurance and maintenance. And those are typically done in like industrial or multi tenant office buildings where it really doesn't make sense to subdivide the electrical cost for every thousand square foot office space in a 200,000 square foot office building. So they just say, you know what we're going to say, hey, here's your rent. And then the landlord's going to figure out paying the electric bill every month. Modified gross. They typically have what's called a CAM charge or common area expense. And everything for the most part is negotiable between who's going to pay for what. And it'll be different if it's a single tenant building or if it's a multi tenant building and you have other neighbor tenants in there as well. And then the last part is triple net lease. And some people will call them an absolute triple net lease. So there's again there's nuances there where a triple net lease, the landlord's not responsible for anything but maybe the roof or but maybe the plumbing or but, or but and so you really have to just go through the lease to understand who's responsible for what. But the more absolute triple net you can make the lease meaning the more the landlord has less responsibility, the more capital can be unlocked through that, through that commercial lease and through that triple net lease. I hammered this, I think I've hammered this enough. But really what we focus on is the triple net lease because of the financial capital that can be unlocked behind it. And it's very, very powerful not only for the landlord, but also for the tenant when the tenant has the right partner looking out for them and helping them know how to leverage that lease to unlock capital. Okay, so now we're going to get into why do we care about what type of lease? Right? Why do we care if it's a gross lease or an industrial lease or modified gross lease? What it really comes down to is wanting to understand some basic commercial math. Right? And that basic commercial math is what is the noi or what is that? What's what's called the net operating income and why that number is so important. The net operating income, like any business, is essentially at the end of the year. What, what is the net income that came from the property. So in the instance of a gross lease, you got to take in the entire rent that you received, you got to minus out all of your expenses, and then you can figure out what your net operating income is. What's powerful about a triple net lease is the triple net. With a triple net lease is their base rent. That is your noi, because any of the expenses associated with the property are that the tenant pays for them on top of the base rent. That's one of the reasons why a triple net lease is so important. But again, why do we care what the NOI is? Right? Well, if you're investing in real estate, you absolutely want to understand what the NOI is so you can figure out what the cap rate is. The cap rate stands for capitalization rate. And essentially what it is is it's the math that investors use and financiers in the commercial world, it's how they determined the value of that income. So once you know what your NOI is, which is the income from a property, right after all the expenses are paid, net operating income, once you know what that is on a particular property, now we need to put a value to that income. How valuable is it really? How much risk is associated with it? How secure is that income? Are we going to get a rent check every single month and never have to think about it again? Or are we going to need to be chasing the tenants every month to get our rent payment? What the investors and what everyone's trying to figure out is how much risk is associated with earning that net operating income. So the lower the cap rate is, it's a higher sales price. And essentially what you're saying is that that lower cap rate is the term they use, it'll be a percent. So let's say it's a 6%. What you're saying is that that NOI or that income at a 6% cap rate is essentially how much value that income is giving you that noi. And so then the higher the cap rate, it means there's more risk associated with the deal, which means that the end sell price of the real estate needs to be lower. I know that's a lot of information. I know it probably didn't make a lot of sense. So let's throw Some numbers behind it. Hopefully this will make sense. So let's say you have a property, and let's say you're trying to figure out as an investor, which property do I want to buy? I'm an investor in real estate now. I want to go out and buy some property. So you go out and you find, let's say a Starbucks, right? And a Starbucks is going to pay you $50,000 a year, and then Starbucks is going to take care of all of the expenses associated with the property. Right? Well, Starbucks, I don't know if you know this, but they're quite a powerful company. They have a big financial sheet behind them. There's very, very little risk that Starbucks every single month isn't just going to have your rent payment automatically deposited to your bank account, and you're never going to have to think about it. So because of that, that cap rate is, in this example, let's say a 5 cap, meaning that you should pay about a million dollars for that Starbucks, right? But now let's go to one of Kathryn's favorite properties, an RV park. And let's say, okay, after all the expenses, after everything else is done, this RV park's making about $50,000 a year. But guess what? It took some work to collect that rent. They had to run down there, they had to evict some tenants, and they had to meet with people. They had to fix some things. There was some work that had to be done by the ownership, right? And so we're going to say that $50,000, it's a little bit higher risk to get that $50,000. So it's going to be at what's called an 8 cap, which means, Catherine, for that RV park should only pay $625,000. So the power in this cap rate is substantial, as you can see by the end sell price there and the capital that can come from it. And here's another quick math. So on $100,000, if you're at a 10 cap, it's worth about a million bucks. $100,000 at a 12 cap is worth about $833,000. So this is the simple equation right here. NOI divided by the cap rate, as it's a percentage, will give you the sale price. And if you remember algebra, you. You can move those different factors around to calculate different aspects of it. You can figure out if I know what the sale price is, I know what the Y is. You can figure out the cap rate, and you can kind of just play with that little equation to kind of quickly run through transactions to see if it's going to fit your criteria as, as an investor. So again, the cap rate is all about managing risk, right? And it's all about how do we mitigate that risk. And if it's a higher risk property, it should have a higher cap rate, meaning that you, as the investor, you should get a better return on your money because you're taking more risk. If it's a lower cap rate, then you as an investor should make less of a return on your money because you're not taking as much risk. So it's all about managing that risk. And it's a hundred percent market dictated. Meaning a Starbucks in Scottsdale, Arizona is going to have a different cap rate than a Starbucks in Florence, Arizona, or in New York or in Florida or anywhere across the country. That cap rate is 100% market driven. And there's a lot that goes into determining what a, what a cap rate is for a property. All right, so pop quiz. Let's see if everyone has their calculator can do some quick math. So if you remember that equation, so if you have an NOI 35,000 and a cap rate of 8%, what is that purchase price going to be? So you would take that 35,000 and you would divide it by.08 and you would come up with a purchase price of $437,000. So hopefully that math makes sense. If it doesn't, again, reach out through the investor portal or give me a call. Explain. Especially if you're looking at a deal and I can help you walk through this math. And then again, using that same formula, how would you figure out the cap rate? How do you know if this $850,000 price to buy a property, how do you know if it's a good deal? If it's producing $65,000 a year? Gotta figure out the cap rate. So you'd use that same kind of formula to figure out the cap rate and you'd say, okay, it's a 7.65 cap. Okay, you know, maybe that, maybe that fits my criteria, maybe that doesn't. Depending on the location on the asset class, maybe you're willing to pull the trigger on that or maybe you're not. Okay, so now we're going to go into some story time, right? Some story time. So hopefully that, that all makes sense in the commercial world. Again, if you have any questions, feel free to, to reach out to me or to Kathryn and we're happy to walk through any aspects of that. I know I went super, super quick, but hopefully it made sense and created some value. So now I want to talk about why all those things are important and how we're leveraging them to make money, but to also help people and be a valuable partner. So we've been working a lot in the medical office space where what we do is we partner with tenants, we partner with medical providers, whether it's a physical therapy company, a wound care company, an addiction recovery group, an aesthetics company, family practice. Some of them are local companies, some of them are large national, private equity backed companies. It's all the same premise. But essentially what we do is we're helping these tenants unlock the power that can come from that commercial lease. And I'm going to give you an example of how we do it. So this is a property that we bought last year in San Antonio, Texas. We bought the property initially for a million 275. And the property needed some extensive tenant improvements to fit the need of our medical provider. So we came up with a tenant improvement and a lease incentive package to be $541,000. And then what we were able to do is then take that and assign that, that deal over to a large national REIT that wanted to own this asset long term. So what we did is we essentially, we figured out what our costs were going to be, then we put a rental rate associated with that cost to then give us that end value. By leveraging the cap rate. And in doing that and doing that whole process, we were able to truly create the win win for everybody. So this tenant, now he was able to walk into a beautifully, a beautiful building that's set up perfectly for them, have all the tenant improvement dollars that they needed to get it ready for them and not have to come out of pocket for them. And all they had to do is sign a commercial lease with us. We were then able to take that commercial lease, leverage it and assign it to a large national REIT that wanted to own it long term and was able to give us, you know, $2 million for it. So that way we could have the money necessary for the acquisition for the tenant improvements, make a profit. And we were able to do that all in about four months. And it creates the win win for everybody. The tenant is happy now. They didn't have to come out of pocket, you know, half a million dollars to get a property up and going. And the national REIT is very happy that they now have a new partnership and in a long term lease with a, with a great medical provider that's doing great Work there in San Antonio, sort of the same premise. This is another one that we did in San Antonio with. Same premise where the initial building was purchased for 1 million 6. We provided a TI and lease incentive package of $620,000 and it's got a sale price of 2.6 million. And last we heard it was actually under contract to be sold. And that whole time frame took about six to seven months. So again, it's kind of creating that win win where now these doctors and medical providers, rather than them having to figure out how to be a contractor, how to come up with $600,000 to do the necessary construction in a building, all they have to worry about is providing good medical care. Right. And they're able to partner with us and we're able to provide those expertise to help them grow faster and do more of what they do and not get bogged down so much in the, in the cost of opening new locations and expanding.

And then the benefit to investors. Let's go back for just a sec. So the, what would be the benefit to investors on this? This is the piece I'm the most excited about.

Yeah. So the benefit to the investor on this is there's, there's a couple of different aspects that you can invest in or that we provide investing. There's obviously capital needed for this initial acquisition and to provide for the TI dollars. But then there's also the long term investor benefit of just owning the asset. Right. So we're owning these assets long term and the tenants are paying rent on it to where we're getting a cash on cash return in the long term. So each one of these transactions have opportunities for investors to kind of make the quicker in and out capital or profit where, you know, there's obviously a spread between the acquisition cost TI package and the final sale price. But then other investors too, who are positioned differently, they want to enjoy that long term benefit of just the ownership. Being able to write off the depreciation of the building and then being able to just enjoy the cash flow of knowing that they're supporting these, these doctors. And then here's another one. So this was down in Florence, Arizona. This was on Main street and Main street in Florence. We were able to take an old Circle K that had become just an eyesore. It had been broken into several times and was just a real eyesore in the community. We were able to come in, purchase the property and this is what it looks like today, but we were able to clean it up and put a national physical therapy group in there and provide a much needed use there in the community where everyone was able to benefit from physical therapy there. So here's some quick economics of that deal. We bought the initial building for 350,000, cost about $260,000 to do the tenant improvements. We sold the property for $884,000. So after all the expenses of paying commissions and getting the loan and everything else, we made a profit of about $200,000 in about five months in doing that. And then here's a different, another deal that we were able to do and Catherine was able to help us with. So this was a little bit different than the medical space. We found an opportunity to be able to, to construct an industrial building, an industrial flex building. But here's why we were passionate about it and this, why it got me excited about it is this was a condo project. Meaning that the 26,000 square foot building that we constructed wasn't for just one user, but each one of these doors right here and right here and right here, there were individual condos. So what it allowed entrepreneurs to do, and especially kind of smaller entrepreneurs who are going out and living that American dream, it allowed them to own their own piece of real estate. And why I find that so impactful and powerful is because right now is in the post Covid world, we're seeing rents on everything just skyrocket. And it's terrible when I see that some of these tenants are being so negatively impacted by that having no control over the cost of their lease and trying to employ people and run a business. It can be very stressful. And so we were very excited when this opportunity presented itself to be able to build this building. But more than just being able to build a building, I was excited about being able to provide that opportunity for entrepreneurs to buy 2 to 3,000 square feet that it's just, you can't find it. It's just very, very hard on these, on these smaller entrepreneurs to have the security of hey, I've got a space, I can operate my business, my rent's not going to change one day to the next. We were able to help them secure the loans for the, for the purchase. And it just gave them some peace of mind so now they can go out and build their dreams and build their businesses. So it was very, very, very excited to do this deal. These ground up development deals take longer, but we were able to hear some of the economics of it. There was eight condos. The total sale price from the individual sales of all the condos was just shy of 5 million. We realized a profit of about $871,000 on an initial capital raise of $785,000. And the whole deal took about 20 months. Again, ground up construction is not fast, but it was sure awesome to see that building get built and to see the, the tenants or not, not even the tenants, but the entrepreneurs in there now that are able to operate their businesses there, some upcoming projects. So this is where it's fun, right? This is where Kathryn and I have a lot of fun looking at all the different deals we're working on. So we're currently working in that with a lot of different medical groups similar to what I showcased earlier. We have deals going on in Texas right now that we're under underwriting, some in Missouri, some in Ohio, working with a very large franchise company that I think they need. How many locations, Catherine, like over a hundred. That that would like to leverage our model of being able to unlock the capital from that commercial lease. Catherine, of course has some amazing things coming down the down the pike in the mobile home park realm and in the, in the self storage realm. So we definitely have a lot of very exciting projects coming up that we'll be anxious to share with you all and hopefully you'll want to go on along the ride with us and if not, invest with us. In the very least be part of the growth and see the community that we're creating.

Absolutely. So this is just a short brief summary of overall the projects that we've been working on behind the scenes, which we're really excited about. And we just want to essentially wet your whistle, get you all excited about what we're doing and so that when these opportunities happen that you have gotten yourself logged into our investor portal and you are notified immediately. It does come on a first come, first serve basis and it's just a lot of fun everything that we're doing. So the how we work is really, really simple. So you go to titanimpactgroup.com and you get yourself set up with an account in our investor portal. There's a simple investor questionnaire. You set up a call with our team and then as the investment opportunities happen, you'll be notified through the portal. You review those, go through all the documents, make sure that you cover them with your attorney, legal, accounting, all of that, make sure everything's lined up properly for whatever your investment goals and strategy are and then send the funds in and we just add commas to your bank account and rinse and repeat, keep doing it again. So the next step is would be for you to log into our investor portal. Here's what it looks like on our website. And yeah, that's who we are. So if you have any questions, you know, please feel free to reach out to us and you can contact us right there on our website. There's a link there that lets you schedule a call with me, with our team, and so that we can get you, you know, completely taken care of. So with that, again, I thank you for, you know, for watching this. I hope that this was helpful. Again, it wasn't a deep dive. It was just a overview picture of what we're working on and why, why, why you do the numbers. Numbers tell you what to do, understanding all of that around the commercial space. And if you have any more questions, again, please feel free to reach out to Adam and I. That's what we're here for. So, again, I'm Katherine Bell, and this is Adam Hansen. And our goal is that, you know, we are the sentinels of the American dream. We're the gladiators protecting the American dream. And we leave every person, property, and community better than we found them. So with that, I hope you have an extraordinary day, and we look forward to potentially working with you. Bye for now.