Cortez Updates for Titan 23 Fund

Let's check in with the crew at Cortez and Titan 23 Fund.

We're excited to give everybody an update on our Cortez project and the team, which is really exciting. You've had— we've had calls, you've all met Deanna. Now you get to actually meet Eddie, which is really exciting. And you saw him in the video and he said he wasn't as excited about this project as all of us were because he has to build it, but that still has us be super excited. He's the who that knows how. So we're going to get some updates on that, but more importantly, use this as a little bit of educating inside of the process because we're going to be doing more of these into the future, which we're really excited about. And Eddie's already done so many of these. I know for most of you who know me, I've already done a ton of them. Deanne already has, but also all coming together collectively to do them just makes all the difference in the world. So we're really excited. So with that, without further ado, Eddie!

Thank you for having me.

We're super excited.

And I am more excited than what I lean on to. So like anytime that you get like a project started and you do it with great people, I, I think that that's what makes it the more exciting for me too. So I was super excited.

Really excited. So do you want to give everybody an update on just where we're at with this project and what the process looks like moving forward.

So we are in like the pre-concrete stage right now. So we're setting up like the underground for all the stem walls and underground plumbing and everything like that, right? So we've been moving dirt for like a while now, and now it's time to start setting up for the concrete and everything. And this is like a 4-week time period where like you feel like you don't see a whole lot, but there is a lot that's going on and we have a ton of inspections and stuff that like we have to pass to get to like the next stage. So like the first thing that we're gonna pour is the stem walls and from there we will work on the underground plumbing and and all that. And then we have one more pour before we pour the big slab. And that's kind of— but in my mind, it's like a start of a project because usually from the time we pour the slab, we can start going vertical in the next couple days after that. So the vertical part is really the really exciting part for like me, and that's when you start to see a house. And we're not too far away right now.

Catherine and I are both visiting the lot and we see the stakes out there. It's a big piece of land. This is almost an acre of land. And it's so fascinating, right, that they are laying out all of these pipes, all of this stuff that no one ever thinks about. The fact that that's a 4-week process is amazing. But to get to that concrete pour, you're right, on certainly on the— that main house, uh, I think that's really interesting. And I think That's where you start to see people are interested in buying it. I think you just had a property that you had interest during the pour, even before you even got to framing, which is where generally we start to see people see the shape of the house and get really excited. But you just had one during the pour, or—

so just before the pour, we just had one go under contract for $7.75 million. So like a really good number on like a great street. The property was obviously like a little bit bigger than what we're building on Cortez, but like we tend to get these because we're doing so many projects like across. So I'm getting calls on my signs on other properties, and that sets up like for me, if that's not a fit for them, to show them what else we have. And that's how these things come together, right? Like, I don't particularly like to market it like before we are poured and we start to have like, like a house framed, just like because it is an opportunity for buyer to come in and make like some, sometimes too many changes. It's— but I think with this one, we're going to come on the market at like a pretty good time with the with the cooler weathers and stuff like around the corner.

So that's prime selling time when it's going to come on the market, which is really big deal. When we were doing all our flips, we tried to time it for that window because we knew that that could move it the fastest.

No, 100%. And like, I, I know we don't want to finish it like before we sell it, but like even then, like, I feel like we should be done in that January or February window, and that's like the prime time for the selling season here.

So, no, it's perfect, right? Right.

The market's still really active. I can't believe what's going on. We're still seeing a lot of other things going. You've got a lot of things that you're seeing. You're day in, day out, you're in this market. So no signs of slowing, nothing that's causing you concern on that, Eddie?

No, it's always slower during the summer because there's not that many buyers in town, and the agents even leave too. So like, but I, I think that everything that we're doing on our side, we're rocking full speed ahead. Like, we, we got, I think we got almost $20 million pending in the last week. So like, there, there's definitely at least stuff that's moving.

Amazing. 78 Californians moving here a day.

It's a big—

and my other investor I literally just met with, we met her over at the property, is she was actually saying there's a huge influx of people coming in from Washington State as well.

I was gonna say, like, ever since they implemented their 10% extra tax for anything you make over a million, it's been a ton of people from Washington State that, that, that's coming in. Like, but even with the Cactus Corridor, like, I feel like the buyer that we do get on these homes, like, when you look at Paradise Valley, it's more of the California and Washington State buyers. A lot of the buyers on, on Arts and Cactus are more from people that already live here, but they want like to upgrade to like a new house or downsize or upsize or like whatever it is, right? But we tend to have like a lot of buyers that already live here that's buying our product too.

So yeah, because the value of their other places are going up. It's fantastic. And there's just so much going on, going back and forth between the markets. I've been spending time in Los Angeles as well. It's completely different there, right? Talking to Some people who were looking at a $14 million property in Southern California and who went to Scottsdale and bought one for $8 million, comparable. They're happy with the schools. They can see raising their family there. And then spending time with the locals. Catherine, as she said, Catherine lives in between the one that just sold on the Poore and Cortez. And so I've been spending time in that neighborhood and you see what a great life people are building there. There's so much going on there, so much entertainment, sports, the food scene, all of that. People are really dedicated to creating lives there and buying those forever homes. And these ones that are just so beautiful and have so much space in them, I think, is key.

Yeah, 100%. And like, there's definitely people that look at our product, but it's still a little bit too far away. But like, we've presold everything that's finishing this year. So like we only have like ours on Cortez. It's like the next delivery, I feel like out of everything. So like it's going to be good timing with everything.

So all of those professional athletes who are lining up to buy an Eddie Lack house can't get anything until 2027.

Correct.

Well done. That makes— that honestly, well done, Eddie. You've just— what you're building here is incredible, and we're so thrilled to be on this team with you. And for investors, I just feel like this is such an incredible opportunity. Investors are looking at— I, I've had, I don't know, 5 to 8 people pitch me projects over the past week, and I just feel that this project is the thing that I have been most excited about in real estate for probably 5 or 6 years. So imagine the number of deals, the different strategies, all of the things that I've looked at across multiple countries. But I really feel that there is some, there is some magic. There's a lot of hard work. There's a lot of wisdom. There's a lot of experience. And it has all come together in this little vortex of magic. And I know we're not in Sedona where the energy vibes, but We've created this little Sedona-like energy here. And so I think for all the investors, we're just, we're so fortunate to be able to get in on this and have Eddie steering this ship so steadily. And one thing I've learned about Eddie that I really like is he's got these systems and he's going to stick to it. He's smart enough to look ahead. He's living in it every day. And you're not going to let things distract you. And I really admire that about you because I think sometimes, especially in real estate, there's always a shiny bauble, and having such a cool hand on the, on the wheel is really important. There's a reason you were playing goalie all those years, right? Standing, watching, getting the work done when it needed to be done. So I think for investors, that really is an advantage that we probably haven't talked about enough. Catherine, you and I have both seen a lot of deals and been involved in a, in a ton of real estate deals and strategies. And I think that's what helps this one to feel so— it gives me strength and confidence going ahead with it, just this, what's been created.

And doing the numbers, right? Like, do the numbers tell you what to do? Like, again, it's how many deals come across your desk, my desk. A part of me feels like I need to start putting out reports of how many deals I've said no to. And all the reasons, right? Like, it's not the one and only. It's like, hold on, I actually get like thousands of deals every single month. We go through them, we analyze them. Of course, we have AI tools to help us with all of that. But it comes— and we were having a conversation this morning, like, how many people have good ideas? And what it comes down to, it's like, do the numbers tell you what to do? That needs to make sense. Number 2, it's the team. It all comes down to the team, right? So who we don't have on here is Ali. So maybe the next time we need to do one with Ali as well. Again, it comes down to the experience of the team, the track record of the team, right?

I think, like, I want investors to know as well, like, I turn down probably like 20 to 25 deals a month as well. So, like, I like, first it has to pass through me to even get to you guys, right? And even on the construction side and everything, like, I really try to be, like, proactive with our needs, like, instead of reactive. Like, I just hired 2 more people last week to help to re— really just, like, nail down investor updates and buyer updates and like ordering of all the materials and everything. And I just want like, I really see everything and I try to see everything happen before they do, right? And, uh, that's what we try to live by, I guess, because there is a ton of stuff that always comes up during construction. And if you don't have a team to handle it, like it's going to be very hard to get out of it, right? And especially when you pre-sell like we do, like there is stuff that you can't really see before, but like as long as you have the staff and everyone on like the same page, I think that you're able to handle it better. Yep.

So you have so many investors can understand. Again, we have multiple layers of people and teams that deals have to even go through before they even get to our investors. Like, that's really powerful. And again, we say no to more— all three of us say way no, no to way more deals than we actually say yes to. Yes, we finally all agree and land on one. Like, okay, now the filters that it's come through, all the criteria it's come through, That's why we're doing this.

And Catherine, for people who touched on your AI that you're using, I want to tell you I've been so impressed with it because you actually requested information further than the lender package. So that is fantastic to me. I really like your system and that you— there were a couple of times that we went back to Eddie for additional information that not even lenders were asking for, but we look at it and Eddie had it at his fingertips as well, which was great. So it's stuff that we have on, but the fact that your AI system was so quick, it's a great way to look at the deals. It gave such a good outlook. You shared it with me. I loved seeing things. I think there's a lot that I love about this deal. There's recognize where the, where the risks are and all of those things. It did a fantastic job of doing that, but for people who are looking to invest with Titan, just know that it's got to get through Mr. Eddy, which, uh, tough one to get through. Then it comes through our team before we present it to Titan. And Titan was— had tighter criteria than any of the lenders that we've talked to. So love this.

I'm governed by the SEC, right? So for me, it's like protecting my investors is number one, and then making sure we're 100% in compliance with the SEC. And it just, that's what hap— that's, I always say to my kids, look, when you're playing a game, you don't have to agree with the rules. Just know what the rules are, play and win.

That's it.

These are the rules of the game.

So we're going to play and win. Yeah. I agree with that. I've seen people try to skirt the rules and it's not how I want to play. And I don't think it's good business. And I think particularly for people who really want to ensure that their capital is safe, that they're in suitable deals for them, understand who you're investing with, what you're investing in. And that you are on side with all of the laws and rules. That as well, when you're investing with the minimums that you have, people can't get into these deals for— if you want to call Eddie directly and try and get into these deals, you better have 7 figures in your pocket to play with, right? So you're able, by accessing, working with Catherine and myself, you can get into these for smaller amounts and still access the the level of deals that ultra-high-net-worth people are able to get into by working, by investing 7 figures at a time. And I think that's a huge advantage, and it's part of certainly my mission and Catherine's mission. I believe if we could get every woman, every young person, every family into just one real estate investment, we will go a long ways towards securing their financial future. And Catherine believes in adding commas to your bank accounts and leaving every person, place, and community better than we found it. So we're living that with these levels and creating access to these deals. I think that's really great because we can do that work while we've got Eddie building and marketing these fantastic projects that are just of such great value and in such high demand. I love that the NFL players, if they want one of these houses, they can't get it until 2027. Mr. Eddie Lack, you have built an incredible brand. Well done.

Yeah, it's incredible.

Thank you.

So I love this. So if anybody has any questions or, again, just, we're gonna keep sending out these fun updates and doing more education on this because we are gonna be doing more of these projects moving forward. So if you have anything, feel free to reach out to me. Happy to schedule calls and get whatever questions answered. So happy that you got to meet the team. Next time we'll have to bring Ali on as well. That'd be fun.

If Ali's on, I'm not. So I'm happy to get me up first.

I'm sure she's standing in the hallway just outside his office and he said that loud enough.

But if I yell loud enough, she'll hear me.

Well, let her know I had to take my clothes from our last lot visit to the dry cleaners. Um, so we're gonna get those hard hats on and go have some more fun at the lot. We wanted to do some like Lemonade and lumber signing when it gets to framing. So for investors who want to go see it, reach out to us.

Diana, if I know one thing about you, it's that it's champagne, not lemonade. So I don't know why you guys are trying to market it like that.

We may have walked the lot, said a little bit of blessing over the ground, and christened it with some bubbles. That will be our signature. Eddie, you just wait till you see Catherine show up with the feather boas when it's done. There it is. There it is. Amazing. Celebration boas. That's right. We have to celebrate these incredible things in life. So thank you both Catherine and Eddie for your time today and to the investors who are listening to this. We really hope that we're probably one of the funnest teams in real estate development as well.

True.

I agree. I agree.

Beautiful. Thank you. Thank you, Eddie. Thank your entire team. Thank you, Deanna and Darcy, your entire team. Like, this really is a huge collaborative effort coming together. So super excited to work with all of you. So with that, thank you everyone. We appreciate you.

Thank you.

Okay, now I'll be able to slice it all up. So that was awesome. Thank you. That was very good. Okay. So that was quick. And I would like to do one with Ali as well, because again, talking about the whole on the other side of it is really important. Our plan and all of that would be really good to— again, it's just that people love these educational things. I feel like it's our own little mini HGTV show.

I love it. I have been meaning to reach out to Ali too. She probably wonders where I disappeared to. But so I'll reach out to her separately as well, Eddie. Pardon me?

You're back to Canada.

Back to Canada. I was telling Catherine I was in the garage cleaning out Grandma's stuff today. Like, it's back to real life. And the woman kept every birthday card ever. So that's where I'll be the next few days. So, but Eddie, I also just talked to— I'll send you another text on that. Catherine, I have two more calls. But Eddie, our hope is we get Catherine's little cup filled up on Cortez. She's got a little bit of space left on Cortez. And then we want to get the next, get some money pulled in for the next one, knowing that you'll have something for us. If it's that third one there, we love that one, but we'll see how the timing works out. If somebody just scoops it up in front of us, that Vic will probably come grab it.

I just got one like an hour ago that I liked. I'm like going through that to see who I got for it, but yeah, there's—

okay, well, we'll like— when we're—

there's a bunch of money to spend and no lots, and sometimes there, there's plenty of lots but no money to spend, so it just goes up and down like that. But a few times everything matches and it's good.

Love it.

That's right.

Yeah.

Okay, sounds good. And then I also have— I just got some stuff from Clink Loans on setting up the accounts for the draws and stuff, so I'll shoot over an email to you and Lauren and figure out how best to do access to— it'll be much easier once I'm there for sure. Also, I know that you probably don't need my help on the concrete pour, but if you can let me know when you book that, because we do want to do some content around that video.

The concrete is boring. Just wait until the framing starts. That's the fun stuff.

I know, but still, like, again, as nerdy as it is, investors love this stuff. I promise I won't bug any of your team.

He's trying to keep our high heels out of the concrete. No, we are stomping those high heels in a corner of a concrete somewhere. We'll get them just to pour a little pad somewhere so we can say, quick, while Eddie's not looking, we'll get some I love it.

Okay, anytime they're out at the job site that we can see machines like going, send me a quick text, hey, they're out there today. Like, I'm literally 6 minutes away. 6 minutes. All right, so it doesn't take me anything to be like, I'll be right back. I can be there and back.

You see it? You see a little bistro set with an umbrella set up on in the corner of Cortez, you'll know it's Catherine. Okay gang, thank you.

Thank you.

She'll set up a lemonade stand that happens to sell Prosecco too. I haven't even told them about the taco truck. I can't, right, Catherine? I can't tell them about the taco truck. Oh, thank you, Eddie, for making time, and Catherine, for your efforts. Now, so, okay, go be a boy. Don't get dirty. Okay, bye guys. I won't.

Bye.