A matter, how’s it going? Hey Nathan, how are you? Good, good, good. I’m just going to get the call started right now. Just one second.

Alright,

alright. Just getting the call started.

Alright, alright. We have everybody joining right now. So it looks like Peter. Peter is the first one who joined. Hi, how you doing? How you doing? Doing really well. Nice to hear from you. How’s it going sir? Oh, fine. Thank you. Can I complain? Yeah. Good to hear. So, um, yeah, so we took a look, uh, because I remember our update from last time.

And then, uh, it was just a matter of getting board members, uh, reviewing the PPM. Yes, so, uh, yes. So how is everything and, uh, or any other questions? Because I think the next step was more just to, um, get the thumbs up from your side and then we’ll just proceed to the outreach. But how is everything going?

Everything’s going fine. Um, I did the conversion from LLC to LP myself. Okay. Um, I didn’t use, I didn’t use the agent at Dollarware. So, uh, unfortunately, if I’ve known that it’s going to take this long, I would have let them do it. Ah. So that’s the, you know, holding me back, as it was, uh, they sent me the conversion certificate that it’s good to go.

Then that’s when now we can proceed. I didn’t know that,

uh, if you do it yourself, it’s going to take you have the first one. So then the first one I remember is also just the single family, leave the single family fund, correct? The city. Correct, so you sent me an email that is being reviewed. That is okay. It’s good to go. It’s just the LP conversion to be completed.

Once it’s converted from LLC to LP, then we should be good. And the board, you were talking to me about a few members of race that might be able to be a board member. And I was supposed to be having a six board member, but I’m thinking that I should probably downsize to four for now, and we can, I can always increase it back to six, but, um, that, that’s, that’s, um, I wasn’t able to come online last week, so I can get an update from you in terms of people that you talked about and that

are willing to that, I think it’s, um, everybody on the platform was doing a single family fund. Could be relevant. So, um, so you know what I wanted to, um, I wanted to get you on the app, but what I’ll do, I’ll just send an email, uh, instead of going back and forth. So, Kevin Jackson, Matt Johnson, let’s start with those 2 because they’re doing exactly the same thing.

Well, not exactly the same thing, but they’re doing the single family fix and flip. So just look out for an email, uh, in a few minutes and then that email will just need to connect. Um, and then the idea is like, you’re giving them. Like rights of 1st refusal in exchange for being on 4 meetings a year, basically after 6 months of commitment, uh, you know, at a discount.

So you’re saying, hey, they can invest if they wanted a discount or, uh, they can get a percentage of the profit of your general partner. Very small amounts. And we discussed. It doesn’t have to be a giant, just be a small amount to start with. That’s that’s as an incentive. Yeah, but for me, I truly believe that the contribution of people that has been in the industry or anybody else that is defined as what will definitely be helpful in terms of how to go about everything.

You know, it’s always about. Prepare to make sure you’re successful and you always want to get people that have a little bit of experience and I might have some experience myself with all the work I’ve been doing in the last one decade. But I think it’s always very good to have all the people’s opinion when you’re doing something sometime, you might think, you know, everything, but that’s when the other people contribute to what you’re trying to do.

That’s when you understand. Well, I might need to do it a different way a little bit to make things better. Yeah, I agree and, um. You know, that’s the bottleneck. I mean, I’m trying to hire right now and there’s always like a limit. You can’t grow unless you get people with you. So, so, okay, so I’m getting an email out.

So, let’s say intro, let’s say,

once I’m, once I’m able to, um, successfully raise the first fund, then I’m comfortable with, um, like you and I talked to, you know, start doing, going in the direction of all the things that I intend to. Place I can start doing some in terms of commercial projects, in terms of hotels, but it’s always good to start with something, um, small and have a good outcome.

I, I think so. And, and that’s not to limit your, what, what you’re capable of doing, because you’re obviously capable of doing big things, is this is more of just like, let’s just get something done so we can. It’s a bit hanging over us for years. Let’s just get something done. Uh, you know, so, so I sent over the introduction to Kevin.

Let’s start with Kevin and then. Uh, you know, via email, if you can just respond, have a quick, um. Quick call, uh, and then just, okay, the opportunity. And then the idea is like, if they say no, it’s, if, if it’s like, oh, I’m not really a fan, then you just have a better offer and he may even show up on this call, actually.

Okay, good. Yeah. Alright, great. And now I have people on my side that, um, I talked to them as well too. So I, you know, based on response to other people’s responses, I would try to bring those people on. So, yeah, I just hope that the single dollar will be able to respond to me quite quick. It’s been almost two months.

I didn’t know it’s going to take this long. I’m kind of disappointed. Yeah, so I guess when you use the agents, make things much faster when you use the agents. are much faster. And one thing we can do, we can start doing some introduction. Like, I don’t know if you’re comfortable, but… Um, actually, it’s more about reviewing the documents, and then we can start doing some introduction slowly, not the entire offering.

You don’t have to give the subscription agreement, but we can just have those initial conversations. You know, just to say, oh, you know, hey, my name is Peter. This is what I do. If I have, you know, just to start, you know, so the next step is like, uh, if you’re to download the app, so you can, uh, you know, see some of the other people that pop in, pop out, uh, look for board members there, uh, you know, and then, uh, the 2nd thing is like, uh.

As soon as the Delaware thing is done or the registered agent thing is done, then we can start doing the more aggressive outreach as well. Okay. Okay, great. Awesome. And then anything else before I hop over to the other people or? Oh, no, that’s it. That’s pretty much it for me. Thank you so much. Good stuff.

I look forward to working with you. No worries, man. All right. So it looks like, so this may be the order. I don’t know if matter you’re watching the order, but I saw tomorrow, Ernest, Greg and Roger. So that seems to be the hopefully I got that right. So tomorrow you’re on mute. I’m sorry. My bad. I was talking.

Yeah, um, yeah, I think, um, 1 of the things I’m looking at is 1 of that health care business. Um, so if we. I had a conversation with the agent, the broker. Um, so I put a, uh, offer like 100% seller financing. I want to see the test, test the water and see what they say. No. So he told me, but I thought about. Okay.

So if you do the route on, um. On the, uh, raising the money and everything, how is the debt will work? Because I know the debt is going up and up. Uh, what, what would be the, I know the SBA is the best option, but I’m looking back and think even SBA. Do you think we need to, uh, I don’t know, uh, what, what, what’s the goal is anyway that you need to, you can help you on the debt side also, or how’s that work on the equity as well as debt?

Yeah, no, I mean, we have more lenders than we, like, it’s always easier to raise. Uh, debts over, uh, equity, uh, that’s what Cambridge Wilkinson told me directly. And then they raised, they closed, like, what is it, like, 3 billion in the last year or between 3 and 5 billion in the last year. So, I mean, that’s crazy.

Yeah, they’re pretty big, but that the point I’m making death is always easy. So we can get you some lenders, but um, yeah, I mean, that’s not hard to die. There are diamond doesn’t. In fact, in fact, there was a point where you wanted to get equity investors. And then, uh, yeah, you’re getting too many lenders.

So, I mean, you know, there are a ton of them. So the question you’re asking is like, um, if you get the equity investors, if you need help on the debt side, we can go right. That’s what I’m looking at. Yeah. Yeah. So then that’s that’s. The answer is yes. Um, so we can do it either through the intros and get more intros or we can, um, just really just go through the entire list.

Okay, so, um, now I have the deals, uh, if we put together on certain deals, how do I break it down? G. P. L. P. partnership. Uh, what is the process regarding that? Or should we put it into a, like a PowerPoint presentation or something like that? Yeah, sure. So same process. So remember the 1st pitch deck that we made for the.

I guess that was another deal. Yeah. We, we, yeah. Was another deal. Yeah. Yeah. I do have one of those things. Yeah. Yeah, definitely. Yeah, exactly. So I mean, we just enter, we just get, ask you some questions and then we, we create the, we already have it. Um, we, we, we made it better than last time. ’cause last time it was, it was a pretty basic pitch deck, but we just got the graphic designers to make it nice.

So we’re just asking you some questions from the, um, okay. Onboarding form and then we make it, or we could just manually just make one and then, Graphics, I can send it over. So that’s no worries. So, um, my question is like, um, how do I assuming, um, this deal I’m looking at is, uh, I think I showed you some numbers.

So they were asking 2. 5, 2. 5 for the business and 1. Three for the, uh, full amount. So it’s like a 3.8, uh, total amount, uh, what they’re looking at. But at least that’s what they’re saying, right? Probably we can have a wiggle room to maybe go for like a 3.5 or something like that, or three point, uh, flat, 3 million on both deals, the real estate plus the, uh, the business side.

If we do that, how do we go to structure that deal? Because we probably, if we go to s b A, we need to bring it to 10% or a 15%, at least gross whole thing. On the deal wise, uh, what, what’s the way and what’s the process? Uh, educate me and let me know what, what you think and how do I do that piece wise.

Sure. So we’ll do it the same as last time. So, I mean, all we’re doing, we’re looking at the equity, the debts, and then the equity, I guess maybe. Okay. Uh, so just, okay. Yeah. I’m just gonna draw something up here. Yeah, that’d be nice.

Yeah. So we can just keep it simple so that we can just have what, three point what at three points? Let’s put 3.2 million, three points. Okay. Got it. Let’s say we need to put 15% down, hypothetically, uh, SS, B, A, or Well, if they come back with 25, let’s say, let’s say two, let’s put two 20%. I’m just trying to be.

A little bit, uh, sensitive. I don’t know what will happen. You know what I mean? The marketplace. Yeah. No, fair enough. Fair enough. No. So all we’re doing, we’re just saying that like, um, like just make it simple. We’re just saying that for the 20%, we’ll raise, uh, we’ll sell shares. Like you can either do an LP or shares.

And I remember we went back and forth last time, but then based on the types of deals that you’re bringing in and the context behind it, we can just do shares. So then you can offer, um, Shares in the target company that add up to 80% of the acquisition price. So that’s something you can look at. And then the rest would just be like debts.

It’d be lenders, right? That’s all your question matter. What are your thoughts? This is, does this make sense or, or any, any thoughts, objections? It’s curious what you think about her.

Um, I, I agree with this. I think that’s the best way to go about this. 2080 and 7525 either works really well. Yeah. So I think this is pretty good. So, in this case, assuming the price is 3. 2 million, how’s that going to work? How much we need to raise? Like, uh, assuming it’s 3.2 out of 20%, I know, but, uh, uh, the debt, uh, if we, if we do the financing side, how’s that numbers gonna look like and how, how much will be the cashflow numbers gonna look like?

I’m trying to figure it out. Yeah. So I think if you go, yeah. So I think how you would go about this is, so there’s going to be two separate sections of this. So one is going to be raising the debt and one is going to be raising the equity portion of it. So you can raise that portion in a limited partnership or a, or a company or even a fund.

And that is going to be completely separate, separate transaction. And then once you have the equity portion of this, uh, sorted out, then you can go to a bank or a private lender or someone like that for the debt portion. So you’ll be selling the equity portion to your, uh, investors that is going to invest in your fund or in your private company.

And then that portion is going to be a separate transaction with a debt lender. Okay, how long it will, I know this is a hypothetical, I don’t like hypotheticals, but how long it will take us, Natu, if we do it from maybe, do you think we can do this thing, whole transaction within three months? Yep. Okay. All right.

It’s going to be a lot of work, but it’s doable in three months for sure. Okay. All right. So the shares part, we are selling the shares. So we need to, uh, I like what you mentioned, right? You go for deal to deal, right? So I’m looking at the deal to deal right now. So, um, is there a harder part on like a 3. 2 raising money wise or easier part?

So what do you mean by parts? The, the, the equity side wise. Um, do you think it’s going to be a hard time that if we go ahead and do this? Yeah, almost always. Yeah. That is always like, um, I’m not even worried about the debt. There’s always the equity that is because, because usually we’re selling to accredited investors.

And then they all have their, it’s just a sales process. Whereas the lenders are just very check boxy. As long as you fit the check box, they’ll send the money. Yeah, that’s right. That’s right. Yeah. Alright. Um, alright. Okay. I’m, I’m starting the e equity side, uh, E equity side probably, but, um, because my work VA is working, I didn’t give a specific industry, uh, specifically so that way it can be commonly asked what they’re doing and how they’re doing.

Do you know someone is interested on healthcare side? Top of your head? Alright, now they were doing deals. Uh, just raise the money. Yeah, just a few guys. I mean, just recently the Vaughn has investors that have funded a few of his deals recently. So, I mean, I know from him that he’s actively getting these deals funded.

Yeah, um, there’s Henry, who he already spoke to, but Devon is doing really good. So I recommend any, and I think he’s back in action. So I definitely recommend getting back in touch with Devon Dames, because he’s, yeah, he’s back in action. Okay, uh, I think, uh, let me see. You want DE, what’s his name? I think I have his number, but I sent him a text message.

But, um, can I call him? Because I’m kind of like a weirded out, of course. And, uh, Devon, yeah, if you, if you go up and even in the WhatsApp groups, but I’ll try to get his, can you do a kind of like introduction email if you will mind? Yeah, sure. Let me do it right now. So that way, um, he knows me, right? You know what I mean?

Like. Not out of blue. I’m talking to him. Yeah. No, absolutely.

I’m just doing it right now.

So, uh, the deals are going on right now. What is the cap rates going on? Uh, I know the capital, I’m specifically asking this question very low, right? Like low cap rates, right? How they, how people are going to make money. So you’re asking about the cap rates with regards to commercial real estate in, uh, for hospitals, then, or sorry, like medical deals and so on.

Yeah. I’m actually not super sure. Like. Um, I have to dig into it. Yeah, I actually actually personally don’t know. Um, because I’m not like a specialist in the sector. That’s that’s probably more a Henry question. But, yeah, I mean, it’s just once we look at the model. Uh, the model really tells us the truth and tells us what’s going on, uh, 100%.

So, I mean, I’m just looking at the model and then, uh, reverse engine from there, but I don’t know what the entire industry is doing. Yeah, I do know that. I mean, I do know that it’s, it’s getting interest rates are a bit. People are skeptical about that, but. Yeah, but Matt, do you have any thoughts in general?

I don’t really have any macroeconomic thoughts about the medical sector commercial, but what are your general thoughts about cap rates recently? Yeah, I, I’m not really familiar with that either. If I’m being honest, especially in that sector. I don’t have much knowledge about it. No, no worries.

I tried to figure out what’s where the people are going on and how they’re doing and numbers wise and what’s the. More than the game plan, like. How much they’re giving to the investors back. That was my thought process behind mm-hmm. , um, due this deal, um, you know what I mean? Like, if someone is giving, I don’t know, like I’m a real estate guy, right?

So I look back and in LP they will make like 7% or 8%, then 90%. 10%, right? So there’s a arc. They are not every day, like every year you get 10% or something like that. Right? So they’ll have a arc on getting. I’m looking at on that point of view. Oh, okay. Yeah. No, well, I can talk about in general, like, the expectation that we’re setting.

We’re just telling people that they should get. Over 2 X return on equity within a, like, a 5 year period. So, like, way over, like, at least 2 times return on equity or greater. Yeah, I mean, for I. R. R. is usually just, I mean, over 15% is good. Yeah. Um, a cash and cash. I’m not sure how relevant to this because if it’s a share purchase, but yeah, cash and cash should be above should be above 7 for sure.

Yeah, um. Yeah, those are some of my thoughts. I mean, Madar, what do you think about just general terms? Uh, you know, in terms of the deal? Uh, so the deal that, uh, Jamar, you shared with me, is that the deal we’re talking about? Right? Yeah. Yeah. Yeah. Yeah. So what happened? I’ll tell you what happened. So that way you understand where I’m coming from.

So I put a number. Um, so I didn’t put an offer on that thing. Then the broker called me and said, why are you not putting the offer? Then I said, Okay. This deal doesn’t make money. Then he came back and said, put a number on this thing. So then I thought, okay, that means not a lot of people are putting the offers.

Right. So that means there’s opportunity there now, probably it’s expensive, but I think I can get it to a percentage and my investors can make money and also. With a healthy cash flow. Right. So that’s what I was trying to figure it out.

So, um, yeah, it’s, it’s not that easy to just give a number like that. I mean, there are so many years that goes into it, but yeah, from what we were. Um, Is it though I can open up the model again and maybe we can talk about the numbers, but I, I can’t remember it off on top. Yeah, if you can, that would be nice.

Uh, I know other people are waiting in the line, but, uh, this may be educational thing for everyone. Hi, Tamara. Can you hear me? Yeah, Roger. Yes. Hi. Uh, yeah, I just, uh, wanted to speak quickly. Um, maybe, were you thinking about like a preferred return? Or something like, let’s say you, you offer to investors preferred 8% or something.

Yeah, so I want to, I want to figure it out. I’ve done real estate deals, but I’ve never done business. Buying a business site, right? So I want to make sure they make enough money, but also my margins make sense to survive on the operational side as well as. Make money as a as a company. That’s right. Yeah.

Okay. Yeah. Without without knowing specifics about your company. I would say, let’s let’s assume you’re in rental real estate. Right. And, um, let’s just take a multifamily. For example, maybe, you know, in 5 years or 10 years, you’re going to have to replace the roof. Yeah, reserves, right? So even though the property cash flows, you’re going to need to account for the reserves, the tenant improvements, other marketing or other restricted cash before you distribute dividends or yield, right after debt, you know, everything right funds from operations.

So in terms of So in terms of arriving at a number, it’s, it’s kind of complicated, as Natu mentioned, to, to get to, right, because you have net cash flow, but even after that, you have to have, uh, tenant loss reserves, um, tenant improvement reserves, capital expenditures, maybe two years from now, and maybe if you have a five year plan, then you can distribute every year and be comfortable, right, but right now, we’re in an environment with rising interest costs and weakening rent.

So you’re going to get squeezed if you put out too much money. Okay. So you’re pretty much saying don’t give too much money. Yeah. I’m cautioning you because you know, rent is not in most sectors. Rent is not going up too much. Right. Except for like senior housing, let’s say, um, but in also, you know, your debt expenses, if you have, um, floating rate debt, um, it’s dangerous, especially in this, this type of environment.

Right. So we’re getting squeezed on the debt expenses and the top line. Yeah. Right. That’s right. It’s, it’s needed to be more defensive and not let the property go to waste rather than payback investors is as crazy as that sounds. It’s better to protect. No, I agree 100%. So, uh, I have the same thoughts. So.

Uh, that mean the, let me ask you, well, is that what’s happening in the marketplace? Madhu Ray, uh, uh, I completely, I’m not, go ahead, Roger. No, I yield. I don’t have a view on the current market because I’m not operating. This is from before I yield. No, I completely agree with what Roger just mentioned that you should be holding on to cash as much as you can.

Because of the environment we are in, uh, it’s going to be hard to raise more capital if we need, uh, some kind of liquidity. And at the same time, you also have to consider the interest payments that you’ll be making off of that free cash flow. Yeah. So all of that, yeah. In, in this environment, um, a lower preferred return, um, is, is good, but at the same time that makes it.

Difficult for investors to invest in your business if you’re not offering that because they can get four to 5% yield from directly from the government or the major banks. So it’s, it’s a kind of a game, but I think you might be able to preserve gas and offer a lower preferred return. Uh, if the, the long term return is, is decent enough.

Yeah, yeah, yeah, that’s true. Okay. Alright. Okay. Alright, cool. Thanks guys. I really appreciate it. Yeah, no worries. And last thing is like, I think it always boils down to the specific, uh, proforma that’s like the ’cause we’re just talking about the overall market, which is a one thing, but the second part, half of the equation is the specific deal because you can always have a deal that is an outlier from the market.

So, um, so yeah, so just consider both. Okay. Very good. Thank you sir. I appreciate good stuff. Alright. So Ernest has told me privately that he’s just listening in we can skip and then Roger. How’s it going? Going well, so I just posted on on LinkedIn. I had a few weeks ago One of the companies I found a name crowd fleet Got, uh, welcomed into the Electrify California program, so I just posted that on LinkedIn.

And, um, it’s just a startup working on EV electrification. I actually drive a really old Infiniti car. Um, it’s like 2008, with 170, 000 miles on my car. Um, but now I’m in the Electrify California program, which is a, um, It’s sponsored by the Sacramento Asian Pacific Chamber of Commerce. Which is good, um, we’re talking about financing this week in this week’s meeting, um, but that’s actually CrowdFleet, um, and it, the website, there’s not much on the website, but I did see Natu’s post about, like, um, looking for help, um, For like, uh, let’s see, what was the exact post?

Um, on, I think it was on the raises. com app. Is that right? Natu? Yeah, no, I am hiring for, um, a support person basically to, uh, to do a lot of what I’m doing. So, yeah, I just, uh, maybe wanted to throw my hat in the ring there. Cause, um, even though I’ve incorporated, um, uh, my own companies, I actually, these, my companies are very early, so it’s, they’re either hit or miss.

So I’ve been bootstrapping them, but, um, I think it’d be good to work with the community and because otherwise I would be like outside the community taking another job or another consulting gig. You know, so I think it’s actually better to work with the raises community. Um, And you know, I can send my resume and also my linkedin And you know, let me know but i’m i’m specialized in in uh, real estate financial modeling So I have built uh, I work for westfield, uh rexford industrial ocean wide plaza.

I built models for Um, or updated existing models for, um, you know, for malls that have like 70 malls or like, um, 150 industrial properties or a couple thousand apartment units. Um, so I’ve worked on all those models. Also, I’ve worked on the legal aspects. So reading, um, limited partnership agreements, um, Worked on lines of credit from the corporate side Um, but my personal credit’s kind of shot and my business credit is just starting.

So that’s kind of where i’m at, you know yeah, because I remember you spoke of westfield and um, and Because this one is is probably let me think I think the only thing and now i’ll put the we put the link in the in the chat uh, if it’s to send your resume, but but yeah, I know this one is definitely like there’s a components of financial analysis but then there’s also a component of Uh, I mean, essentially, you’re going to be taking a lot.

You’re going to be assigning things to David Donovan potentially matter and, uh, taking in all the support inquiries that we get, like, for example, like, the support inquiry that I think I think you submitted or somebody submitted with regards to. Crowd fleet, you’ll just be talking to other people. I remember to ask us support questions and then, like, help them.

Um, that’s the whole job description that we wrote up is there. I just sent a link in the chat, but, um, yeah, no, I’m interested. Yeah. If you can just send the application, we’re looking to fill it up at the end of the week. And then, um, and, uh, yeah, we’re just getting, uh, we got like, what, 14 within. Uh, the last few hours after we posted on Indeed, so yeah, if we can just quickly apply so we can get you to the top of the, um, the list there, that’ll help us out a lot.

Okay, yeah, and to be fair Natu, um, uh, maybe, um, you know, I would be concerned, obviously, I have, I have founded five companies, I have little time available, so obviously, to your point, you may be concerned about, like, um, my ability to commit to, like, the requirements of the position. Right. And I could say I’m not able to give clarity on that.

I don’t know how much time we’ll have next week. Alright. Um, but I am interested and I would like to help. I do note it’s an, it’s a manager position, so I do not, um, I’m not sure I can fulfill the responsibilities of a manager. Because a manager would have to be on point, right? So, yeah, just full disclosure.

I, I’m, I think I’m qualified for the position, but as for time or like being able to do the set hours, I’m not sure I’m reliable. Okay. Well, full disclosure. Well, Hey, the full disclosure is always appreciated, but then, you know, for any other things that, you know, we’re always growing and we try to get sales reps later on.

So, uh, I mean, I mean, you know where to find us, but, uh, another notes is that, Uh, we’re David told Dave to ask me some questions because, um, There are two things that you sent to us. So one was a list of financial models asking us which ones you think would be a good starting point. And then the other thing was,

oh, yeah, yeah, there’s a lot of vehicle rental models existing. Um, but the interesting thing is that crowd fleets financial model is there hasn’t been one. Um, it’s kind of been in my head, um, but, uh. Um, there’s a substantial amount of, of YouTube, like, at least proof of concepts on YouTube for like Turo, uh, um, vehicle rentals.

So you buy a Tesla, you throw it on Turo, and then you buy more Teslas, or like Priuses, right? That’s, that’s the default operating model. Um, the higher level model would be things like electric delivery vans, or, um, natural gas buses, things like that. That’s the higher end model requires more capital, right?

But, um, so we’re excited to see what happens with the Electrify California program. We know that, um, that retail models will work and, and commercial models will work with partnerships. Okay, fair enough. So then I got lost. Anyway, I got lost. Well, well, I mean, let’s get back to the, well, let’s get found. So a financial model that can support this.

I mean, I can just send them here and then matter can right now take a look and then make a recommendation on which one you should go with. Like, would that be okay if I do that? Or, or would it help? I don’t know. I don’t know the capabilities. I haven’t, um, I haven’t raised the fund through raises. Um, but I, the crowd feed is actually incorporated through gust.

com. Yeah. Um, and I’ve been really remiss and I have to work forward on Gust and see. Um, I have to do my part, um, for Gus, but I, it was kind of collecting dust because, um, I was looking to be included in the, in a accelerated pro program. Right. Um, but it’s kind of like, um, feast or famine once, once it started going now, I’m having a lot of hits, but I’m really short on time.

Okay. It hits when you say hits, you mean. What type of it’s you mean the investor hits or like in the past month I’ve applied to like five business accelerator programs And I’m in electrify, California, which is with crowd fleet But also I have others which I don’t know. I it could change within two weeks.

Okay. I see what I see what you’re saying So, okay. So then yeah, I’m just trying to um, you know, see See where things are out because crowd it actually needs help You know, so if people are interested in like the vehicle rental space, because I know it’s differentiated from a lot of people’s normal practice, even mine, frankly, right?

So then, okay. So does Gus cover financial? Uh, modeling services as well, or would you like matter to, uh, build you one based on the examples you supply? Actually, Gus, to my understanding, they, um, they asked you to upload your model, um, and, or the model, but, um,

I actually am outdated with what fundraising models look like. I’ve previously worked on operating models, um, which are ones connected to accounting systems and built for reporting, like 20 reports, not like three statements. So they’re really intense. Um, but that’s what I’m used to. I’m not as used to like a, the different scope of what investors see.

So D as for deal size or like the expectations on return or what statistics, like what operating statistics they would need to see. I think I’m kind of outdated, so I would have to lean on raises support, um, to help me with that. Okay. Gust provides like international fundraising. So Gust is, I already paid them for incorporation and for fundraising workflow, right?

So they, they offer safes and they. They actually already provided documentation. So I can provide the incorporation documentation for crowd sleep, you know? Um, and I can also invite support at raises. com to gust platform in which support would be like a user of gust platform. I’m not sure if you guys would want to do that, but it would be, it’s kind of ground floor because I haven’t done anything with gust yet.

Um, and I kind of don’t know what I’m doing because my only experience has been behind the front desk of a corp of an operating REIT, right. But I haven’t been from the beginning. Okay. Fair enough. So then what I’m hearing is like. We’re after the call. I think I think I can give David the green light to actually just just create the model because we’re more used to people that who are working on it from a high level because we’re not at the granular at the super granular level, because many of the people reason the ones that they’re sub a lot of them are sub 10, 000, 000 sub 50, 000, 000.

So, yeah, so excited. So the next step is David will get together, you know, a general purpose model for you to upload to Gus. All right. I’d be interested in seeing how Gust works. So I don’t know how it’s like, if you can add supported races, I’ll come to it as well. Um, so if you’re, if we’re able to do those, so if you’re able to do that in your side and our side, we’ll get David to send a model, uh, you know, based on some of the examples he outlined.

And I think that’s a good next step so that we can see how, what, what Gus would do with it. Yep. Sounds good. And also to, I have a, um, I have videos, um, that I’ve watched, like, um, I think Abby Janik on YouTube. Like she’s a Turo host that has like 90 cars. Yeah. Right. And I have a lot of videos. I could send those to you as well, or maybe email those.

Those are like the, um, like kind of an intro to the business. Like my sister was a manager at enterprise, rent a car, I DoorDash. So like, it’s kind of, we understand like the space, like delivery and transportation. Yeah. Right. Um, but as for like seeing, uh, you know, successful companies, uh, there’s plenty on YouTube using Toro.

But we could expand in other ways. Nice. Nice. So just keep that in the back of your head, but then, uh, but yeah, let’s, let’s keep the laser focus on the, um, on getting this model up and running. And then by, it should be about two days, or you know, hopefully it’s in two days, then we should be able to get, um, you know, just get something planned in place for the, uh, for the model.

So we’ll just keep it simple and focus on what we know how to do. Will do. Nice. Good stuff. Great. Thank you. Nato. I’ll send over the invite to support it. raise.com. Yeah, well, I mean, we can, I already assigned it. You send it, but then we already, I already assigned it while we were talking. Uh, I was multitasking, so I already assigned it to David to, to take the lead on that, but, but feel free to send any additional info as well.

All right. Awesome. And I see, uh, Ruben is joining. So just to make sure he joins successfully, uh, connecting with audio.

Anyway, so while Ruben is trying to connect, anyone have any other questions before we get to Ruben?

Oh, hello. Oh, hey, Ernest. You don’t say. Yeah, I didn’t plan on saying, but when I heard Roger, um, I was very interested, um, and the transportation current was. Pardon, what I wanted to do is when I introduce so, um, so I contact you, I left him an email address. Um, so I wanted to speak to him. Nice. Oh, good stuff.

Especially in the future, maybe electric cars, but as, as far as the car rental thing, that’s part of, um, I know one of my revenue streams, so I really want to talk to him

if you have it. Yeah, I can send the email, but, um, um, maybe we. We should start an interest list for raises. Um, I’m not sure, right? Would that be prudent, Natu? What do you think? So interest list. I already have a pitch email. So elaborate on interest list. Um, I, um, I sent support at raises. com, kind of like my pitch email, which includes the pitch deck, um, like the crunch base, other info, like the basics that are way better than the website, because the website’s kind of blank.

Um, so I could send that to Ernest, but I already sent it to, uh, support at raises. So, um, what would you like to do? Oh, no, I see. Yeah, we can just, um, yeah, if you send it to him directly, we could forward it. But, I mean, if you send it to him directly, we don’t want to be in between anything to slow anything down.

Um, so, yeah, just feel free to send it directly and, uh, and if you like, you can CC us, but, yeah, just take the lead and send it directly. We’ll just focus on the model. Uh, and then just get our one deliverable out. Oh, okay. Sounds good. And Natu, just so I’m aware, um, your team is mostly in Canada, is that right?

Well, yes and no. So, I’m in Canada. I’m in, I’m in Ontario, Toronto, or Ottawa. Matter’s in Vancouver. David Donovan’s in New Jersey. Uh, Perrine is actually in Philippines. Juan is in Columbia. And Richard Reed. Is in, uh, he’s actually in Detroit. Um, those are, those are the most active and then everyone else is more like, you know, they’re more part time as well.

So, um, but you know, it’s, it’s all scattered. We’re all over the place. Yeah. Cause you know, the thing about crowd fleet is, um, you know, right now it’s just me, but what if, for example, like in major metropolitan areas, we had a rental manager. Who manages, helps to manage like 10, 20 cars, right? What they do is they have to, um, move them from the airport to maybe the customers pick them up at the airport, or maybe the customers need pickup and things like that.

They’re, you know, we know what vehicle rental offices are like. Um, so if we’re able to raise, let’s say, you know, 50 million, that might be enough operations for like five operations and maybe like a few employees, right? Mm hmm. And in order to mitigate our risk, it would only be like maybe five cars, ten cars per location, right?

So that’s why I asked where, where everyone is at. Because, um, you know, that’s the thing about CrowdFleet, like, you can buy a car anywhere, right? But it’s, it’s, for someone who needs to rent a car, they’re all dispersed. So we could have a concentration of a hundred cars in LA, or we could have like ten all over the place.

Oh, well, and the rental car industry is right for disruption. Like, uh, I just had a couple of friends and we just did some traveling and, uh, and, yeah, it’s a really archaic industry. It’s just that, um, I mean, obviously there’s there’s and I think based on what you were warned about earlier, there definitely may be some, um.

Tightening that’s happening in the market with respect to how much people are willing to pay for services recession and so on. But no, I definitely think it’s like it’s an interesting, uh, you have a market opportunity. I just think it’s more about making sure that we have some realistic projections and a realistic sales force to grow the team.

Um, But but no, this is it’s definitely you’re definitely onto something here. And um, thank you. My understanding. It’s an operational issue, right? People are cash flowing renting on Turo and they’re making over like a hundred percent Annually It appears to be something like that. Um, but as for the accounting, the depreciation, the commercial vehicle insurance, what’s their actual loss rate over like a three year term, like people crashing cars or something, um, that we, I don’t understand yet, um, but I think it’s, it’s mitigated.

Um, so I think the opportunity is good. And yeah, thank you for hearing it out. No worries. No worries. Okay, so it looks like Anati actually just joined. Still joining. So Anati, how are you doing right now? What’s going on man? I didn’t realize my mic wasn’t um, muted. Uh, I didn’t know if you called on me because uh, you thought I wanted to say something but yeah man, just dropping in.

Um, yeah and then if whenever it’s my turn, you know, I just fall back into it. Yeah, no worries. It looks like we’re actually maybe near in the end, but, uh, so yeah, no worries. So what I’m going to do, I’m going to ask matter if there are any macroeconomic updates. I’ll see if Ruben is able to join. Uh, he’s a new member and, uh, but if not, we’ll just end it.

But, but matter, I don’t know, um, uh, what, what your thoughts are on fiscal policy or if there are any new updates, uh, that people should be aware of that happened since July? Uh, but yeah, can you just walk us through any general, uh, you know, fiscal policy updates. Thanks. rates and how people should respond.

Um, yeah, I mean, the, the most recent update is the inflation numbers dropped a little bit, which is a great sign for everyone I would say. Uh, so that that’s a positive. So that’s makes it more likely for the interest rates to cut down and more liquidity to come in the market. So that’s a really, really positive sign.

But at the same time, the labor market has hasn’t really been slowing down a lot, maybe a little bit. Um, so that has an inflationary back. So inflation might come back. So we don’t really know about that. So that’s. Uh, kind of two, uh, two forces who are going basically against each other in a way. Um, so that’s one update.

And still at the same time, we don’t see any, uh, interest rates like the, the government, central government, central banks talking about any interest rate cuts or anything like that. So we can’t really expect that to happen anytime soon that there might be a recession. The economy is certainly slowing down.

We can see the impact of all these high interest rates on the commercial real estate, on the regular real estate. Um, uh, so we, we are seeing that. So there is a likelihood that we will see a recession. And if the recession comes and at the same time, the inflation is low, that is in a way, a really.

positive sign because then the central banks will just put money in the market and the markets will rocket will have a lot of liquidity and that’s going to be a positive sign. But if the inflation returns, uh, at the same time that a session comes, then, then it’s, it’s a really bad situation. Uh, and that’s when we, we should try to preserve capital as much as we can.

Uh, every single holder, uh, from, from business standpoint, from a real estate standpoint. Uh, and if we get into a situation like that, I think a few months after, or, or like even around the same time would be a great time to invest in, in the market, uh, be it real estate, be it other markets, because that’s most likely is going to be the lowest point.

Uh, because in the long run, I don’t see the governments not, uh, putting money in the market, not injecting liquidity and keeping the interest rates high for the long period. It’s more like a short term thing. So long, in the, in the long run, it’s for sure we will see. Uh, basically the price is going up for almost everything, but in the short to medium term, there, there might be a lot more vol, uh, volatility and, and we, we should try, try to preserve, uh, the capital as much as we can.

Hmm, interesting. So is there a difference between, and, and this is my last follow up question, but is there a difference between how people should act in m and a versus in just pure real estate? Or is it just the same idea, conserve capital, but what are your thoughts? I mean, I think in an, in an MNA situation, if you’re able to acquire a company that’s generating cash, that might be a great positive for your company.

So I would, I would say that’s a good thing. Whereas real estate is, uh, I mean, it depends on what kind of real estate, if it’s multifamily unit in Canada, for example, in the Vancouver market or in the Toronto market, it for sure is a good thing because the rents are skyrocketing here. Uh, because there’s so much immigration happening and interest rates are so high.

So yeah, from that perspective, it might be a good idea. But at the same time, the valuations haven’t really been dropping. Uh, I don’t know if you saw, uh, the market, uh, uh, the market prices in, uh, you know, uh, sorry, what was it? I lost my thought, but yeah, the, the, the prices in, um, has been crazy high in, in, in Canada right now, these days, because immigration, you know, the interest rates are high and the sales numbers.

How is the lowest we have seen in, in, I don’t know how many years in the U S and in Canada. So no one is trying to sell right now. Uh, but at the same time, everyone is just trying to hold onto it and preserve capital. Some of those people might be able to hold onto it if they have good liquidity and they are in a good financial situation.

But I think The, the higher interest rate impact is going to, we will see the impact in the market and people will get desperate and people will start selling their properties, uh, if they cannot really make the payments. Uh, and I think that is going to be a great time for investing in the next, let’s say three to four quarters.

Yeah, there we go. Well, I mean, it was about time. Um, it was about time people heard a good, a positive message. So, um, it was good stuff. So, yeah, no, so I think we might as well end on the high notes. Um, everybody has their next steps and what’s going to happen. But, uh, before you end the call, any, any final, uh, you know, questions, thoughts, insights, uh, to close.

Well, yeah, um, I asked somebody sent me an email about 3C5. About 1 of the exemptions and, uh, well, 1st, let me just ask you if you know anything about, like, the exemption as far as real estate funds. Yeah, I think I think I heard of, um, we focus more on the, the whole regulation D side of it, but I think it’s just difference instead of the form D, when people submit form D, and the regulation D.

I think it’s a difference exemption from securities registration that tells people that they can either they need a different amounts of investors and a different type of different rules. So, like, there are 3 of them, and you need either a certain amount of investors to invest with you who are qualified investors, which is, like, a higher level credit investors.

Um, I can’t really have to dig up the actual rules. Um, but be pretty much people have to have, like, they’re different combinations of things that allow people to go through similar exemptions to the regulation D, except it seems to be based more on, uh, the asset type and then how many investors and the types of investors.

So then you sense Form D. Yeah. So, so if, if, and, and hopefully maybe this, can you pull that up real quick? It’ll just take a quick second here, but Yeah, because I, I know you gotta share the screen. So on the, so it, it’s, it’s, so this is the thing with certain investment, and I, I used to post this in the WhatsApp.

Um, like I said, I don’t know how rules specifically are in different places, but, um, you know, raising funds in the States, man is very litigious. You can get letters from the SEC at any moment. You get letters at any time. They can try to set you up. It’s a lot of headaches. So if you go to the form B, there’s a process of certain exemptions that you can get.

So, when you do certain real estate funds, and when I say certain real estate funds, basically real estate funds. you’re not going to register with the SEC. So if you’re raising less than, I want to say 150 million, they’re right. That’s screen right there. So you’re raising less than 150 million. Um, you have to get what’s called a, um, Private investment advisor exemption.

You have to get that. Um, and if you see on this screen here, it has different exemptions. It has three C one three C two. I’m personally going for the three C five, the three C one and three C seven. And that’s kind of what my question is. Anybody watches that maybe consent email to answer. I’ve already reached out to the SEC man, but they can be really hard to get in contact.

It’s almost like. Thank you. Ask us any questions and then they never respond. You know what I’m saying? You might get lucky if they respond. They used to have a direct number we can call, which, you know, good luck these days. But, um, basically on the actual application that you have to file is called a form ADV and the form ADV is where you actually register as an exempt investment advisor to get the exemption.

And when I’m filling out the form ADV, there is no option. There’s only two exemptions, the 3C1 exemption and the 3C7 exemption. But on the form D, it has all the exemptions where you can clearly just click the 3C5. So I guess my question is. Um, do I even need to file the exempt investment advisor if I’m taking a three C five exemption because it’s not an option.

The only exemptions available on the form A. D. B. is three C one and three C seven. But to raise a real estate fund under one hundred and fifty million. This is something you have to have one of these exemptions. So hopefully, if you can answer it, maybe somebody else is watching this or maybe on the team can kind of see this part.

Um, y’all already responded to me, but y’all kind of gave me some information that I kind of are. It wasn’t the exact question. And I was thinking, maybe I come on here. I can ask the exact question. I’m going to respond to them in a second. But the exact question is, how do I actually take the 3C 5 exemption?

Because on the Form ADB, which is the form that you file with the Form D, you can either do it directly before, or you can do it directly after, but either, but both of them, you have to file within, I think it’s what, 60 days? Before you get an investment. Okay, so this okay. So well, I mean the quick answer is Well, not before you get invested within 60 days after receiving it.

Yeah, usually it’s usually it’s like 30 days after for form d but then um for the three for all the all the three sections Uh, the quick answer is I actually don’t personally know I have to go to bennett jones Uh, they’ll offer them that we engage for them to tell me an answer and then i’ll report back within one day, but We’ve seen people just select this And for whatever reason, uh, for whatever reason, they didn’t seem to need any of these, according to their council or our council.

And then we just proceeded if I would succeed, uh, you know, I can, I can see. So, basically, you’re asking if they need to fill in 1 of the, if this if this is more important than the other form to file. Because this has more of the yeah specifically for a 3c5 Um for a 3c5 over a 3c5. Okay. No, I can take a look So it’ll take me one day to talk to bennett jones and then i’ll just forward you what they say because um, You know, they’re the securities attorney we engaged anyway, so uh, yeah, but I personally don’t know because um, yeah, usually we just do 506c and then council doesn’t really complain if we don’t even select any of the Investment company acts most recently, but I would triple check again So this is what I’m going to do.

I’m going to, and I’ll, and I’ll, you know, leave it here, but I’m going to add the question here in the, in the chat, and you can copy and paste it, because it’s a really direct question, because I really need to know if I need to, and I’ll just type it here. Do you

need form ATV? Okay, good question.

Roger shared something in the chat.

Oh, this is your, um,

okay. I don’t see, this is good, Roger, but I don’t see how this is connected, but, um. Yeah. So, okay. I know, I know how it’s connected. So I took the series 65 exam. I came up about six, I came up about six points short, but through that process, I started doing more and more research and I learned there’s actually a way to become an investment advisor without passing the exam.

Which that’s a whole nother workshop, but I’m gonna I’m gonna teach probably by the end of this year because it’s just you know That is a major thing. But anyway long story short, um only certain states recognize that Exemption what to where you report as something called an exempt reporting advisor Every state does not recognize it Um, now I don’t and maybe that’s another question.

I don’t know how a lot of people are getting past that regulation because that’s the regulation. Either SEC just don’t know they’re doing it. They’re not seeing it, but based on my information and maybe Mr Yang, maybe we could chat because I know everybody will kind of want to wind down. Maybe we could chat in the app.

But how are people getting past the record? Because based on my I’m a reader, you know, I’m a reader. So based on my reading, you cannot have a fund unless you have one of those exemptions, either the three C one exemption, but a three C seven exemption. It’s no way to have a fun legally. But if you’re saying people are bypassing it, Maybe it’s something that I’m misunderstanding.

So that was addressed to Roger? No, that was addressed, that was addressed to you because, because I, because I mean if it’s people bypassing it, then it’s like, well. Maybe, you know, maybe I’m missing it, but let me see you this in the chat for those interested. So this is a link, I don’t know why that link is so long, but this is a link to all of the states that recognize the exemption and all of the states that don’t.

Oh, and you know, something you should try to an idea, like one thing, so remember how you just said the sec is difficult to call and they’re fussy. So something else that you can consider doing the statewide regulator seems to be much easier to get a handle of, uh, to call them. Yeah. So, um, I’ll try to find the equivalence.

Well, I, I can do that work. I can do that work. Um, but that’s, but for this particular exemption, you, you gotta, you gotta file with the s e c first. You gotta file with the SS e c and the As an exempt report advisor. Alright. Oh yeah. Information. Okay, cool. Yeah, yeah, yeah. I’m just saying that, that the, the statewide Reg securities regulators sometimes because, Of the blue sky laws that have to be done in the States, uh, sometimes it helps calling them for that.

But then what I’m also saying is that. Uh, you can also see if they have their own because, you know, for the blue sky, you have to, like, sometimes they have their own thing that you also have to, uh, submit after the investors invest in addition to the form D, which is federal. So, then sometimes, um, you can ask them, ask them to see, oh, hey, what do you, what are your, what is your form?

Do we have to sign a form review before the investors invest? And then if so, uh, what do you say about section 3 C5? Is there something that I have to submit? Because I know for a fact that. Uh, the B and the C, you have to, uh, in many cases, you have to do something in terms of submitting a, um, you have to register with the quote unquote register or notify the local statewide laws.

So maybe they can also tell you what to do. For the 3 C 5, sometimes they don’t know what they’re talking about either. They just send you a bunch of emails and then emails will tell you what to do. And sometimes they do know what to do, but it’s faster response. But to answer the question to answer the question.

Uh, I’m not sure. I just focus on the 506 C and the 506 B. Uh, but what I will do, I’ll have to talk to my, um, my attorney myself, and then… Forward you what they reply with the three C five and then see like if you have to fill in another form, but what we’ve seen it was just like 99% of the clients. They just filled in the probably 60 and then the reform D and then that was it.

Uh, so, okay. All right. Um, and I added another link. You don’t even got to open it, but just something for you to kind of look at just to see what I’m talking about. Okay. But, but even if you go to Bridger, like, I know you found Bridger in them, but. You know, that’s how I learned about it. Actually. Um, it’s, it’s a lot of stuff that, you know, I guess you just go through from, you know, experiencing it.

He talks about three C fives exemptions. A lot. The problem with three C one exemptions is you can only have up to a hundred. And by and you actually see here is this better exemptions and exclusions claim. You actually see it as investment company at. So based on my understanding, especially like in certain states, like based on my understanding of Florida, um, you can’t like the only way for you to have to take commission in a real estate fund in the state of Florida is you have to have a, um, a broker as a part of your, your general partner as a part of the general partnership and like little details like that.

But like I said, you know, people is, I don’t know if it’s me reading too much into it or people just. not getting caught or just whatever it is. But, um, you know, if you Google, uh, SEC judgment letters, um, real estate funds, man, it’s, it’s, it’s quite a bit, but, but I guess if you’re not, I guess if you make over a certain amount of money, I guess that’s probably when they really get involved, but maybe for smaller funds, they don’t care.

And like I told my business partner, man, I’m just, uh, P F PTSD from dealing in crypto space. Where, you know, everything you did, it wasn’t clear. And it kind of shut you down, really, at every turn. So I just want to make sure this is our second, this is our second win. And I just want to make sure that everything is good, but I definitely keep the conversation going to email and, um, thank you.

And, um, I guess, you know, we’ll, I’ll see you again. No, this is very good. And Eddie, listen, this is very good. Uh, it’s very good to bring this up. Uh, I appreciate it. I think the, uh, the thing is that sometimes the, because they, they respond to whistleblowing, um, or it’s a big amounts or to complaints from investors.

That’s why sometimes. You know, they’re very slow to get back to people and things like that. Uh, you know, but no, I think it’s I think it’s good the way you brought this up. Uh, so just bear with me. I’ll personally, um, go into the support emails and then, uh, reply based on what Bennett Jones tells me. Uh, and then, uh, that’s pretty much it.

And then. Just know that 90% of the time, it’s usually just 560 and then. Uh, and then people just perceive that way based on the, uh, that’s in the blue sky loss. But, but yeah, we’ll report back on what my finding is as well. All right. And I got one last question. This is quick, though. I’ve been going through an issue with my numbers, and I keep sending them back to y’all, and I already apologize to your team, I keep sending them back, because I’m, this is when AI is failing me, um, sometimes AI messes up the numbers, like when you use chat GPT and Google bar and stuff like that, they just, like they, for some reason they have issues with math, and if you start seeing other okay Everyone great, thank you You know, issues on that.

Yeah, well, they’re language models, right? They’re not computational models. So the computational models are Wolfram Alpha. And then these are just language models. So that’s why they’re pretty bad at math, but go on. And my question, direct question is, do y’all use a website? Because I know with some calculators, like I use a little calculator, but it doesn’t allow, like, for example, matter of fact, let me, let me add it in the chat.

Now this is helpful. I’m keeping everybody a little bit longer, that’s why I try to go last. But check this link out. It’s a um, carry interest calculator, but my numbers are a little bit different so because we’re because originally if you remember we were doing a 3c1 fund and Because I started realizing the rules of a 3c1 fund you can’t charge carry interest That’s why I didn’t want to do none of that at first but as I started doing research on different exemptions the 3c5 exemption allows you to to do carry the interest.

It allows you to charge management commissions. It allows you to do all of that, except I think 80% of your fund has to be in real estate, but ours is a real estate fund. So we ain’t worried about that. Um, but this is a calculator to kind of help you with your numbers because on our pitch deck, we have the numbers that cause we got two different classes of shares and we have the numbers that we would get.

If we reach 20% IRR, we have the numbers that class A would get, and we got the numbers that class B would get. But every time I run the numbers, man, it’s literally like I’m getting different numbers. And I’m like, before we officially start promoting, like really, cause we, we almost at the end here. 30 days, we ready.

But once we really start putting this in front of like real investors, we want to make sure our numbers work. And I kind of use this, but I’ve been using AI. But the problem with this is. I don’t have anything to check it against because you know, this is a form of like AI to I don’t have nothing to check it against.

So I send it back to your team like, yo, can y’all just please crush these numbers one last time like a formula? So if I need to change something, I don’t have to run back to y’all every time. That’s kind of what there was confusion between me and before, because I need like a formula. So if I change the numbers to five percent or twenty five, whatever I change it to.

I, everything has changed automatically. I don’t have to reach back to y’all. I don’t have to keep going through these different models. It’s just one model. So do you have a, a, a software, a website to something where I can just plug in the numbers? And they can kind of tell me if I reach this IRR or whatever it is, the direct numbers that the investor will get plus our general partner will get.

And that’s all my questions, I promise. No, no, good question. And, uh, cause I, I think, um, I, I think we got the email the 28th and then I actually just jumped in there and assigned it to David recently. So. He should be coming back soon, but your model doesn’t actually have a formula. It’s what you’re telling me, right?

I mean, the formula that I originally had, there is a formula with the spreadsheet. But I think what I need to do is maybe set up another meeting with one of y’all guys to actually do that. Because my, my spreadsheet is broken down into different tabs. And I, and I see how it can be confusing because I got so many tabs, but each tab is connected to another tab.

That’s the only reason I got so many tabs. So on the last tab, all the numbers is final, but the numbers are coming from the other tabs because it’s a calculation of the other tabs. So what I’m saying is. On one of the worksheets, there’s a formula of how to get the IRR and a formula of the general partner percentage, but I don’t know if that’s correct.

Because when I use this, it’s a different number. When I use AI, it’s a different number. So I’m like, I keep getting these different numbers. So I’m like, I’m just going to go to y’all and the number that y’all say I want to be able to check that number against something else to find out, well, why am I getting different numbers?

If that makes sense, because I keep using the model I have in the spreadsheet, AI and this, they’re all, and, like, they’re all giving me different numbers. So I just want to get a formula that I can use, that I can check, that’s going to give me the same number so I know that what I’m doing is correct.

Because this formula right here added the whole period. That’s not in none of my other formulas. If that makes sense. So when I use the whole period, which is three and a half years, that gives me a different number. When you add ketchup, that gives a different number, right? So I just want to find like a formula, something similar, I guess, to this, to where if I change the holding period, everything is automatic.

If I change the funding value, everything is automatic. I don’t have to keep doing the numbers myself, which is a long process. Or keep going back and forth with your numbers guys, and I’m sure they’re tired of me where I just got a formula. I can plug it in and everything works. Got it. So I know exactly what the interest is.

I know exactly what class A investors get, and I know exactly what class B investors get, because I have a preferred return on my class A investors. Got it. What, what prompted the use of the calculator in the AI?

Well, just to check the numbers, because like I said, I didn’t even like, I didn’t even realize holding period was a data point that I needed. So when I do mine, I realized holding period wasn’t because I’m realizing that to get the real numbers, the holding period matters compared to when you reach target IRR.

And based on my model now, we reached our target IRR to start receiving carry interest in year six. And I didn’t realize in the model I have now in the spreadsheet, I don’t have that data point. But then when I use this, it gave me a data point holding period. But then when I use AI, they’re giving me a whole different number.

So I’m just like, man, I don’t want to be false advertising nobody. Like I said, I’m a real stickler for that. Like I said, I got PTSD. I want to make sure everything is correct. So when we start raising this money, I’m not getting no letters. I’m not getting no calls. I’m not getting letters from Bank of America trying to shit.

You know what I’m saying? Like, everything is ready and we can raise money and just keep building wealth. I just want to make sure everything is, as I know nothing is 100%, but I want to make sure I know this is as close to the possible number of projections as there can be. Okay, got it. So, I mean, I have a few ideas.

I think, um, well, I mean, I think, I think we have a CFA right on the call, so he could give you some, uh, like he can just open an empty Excel documents and then we can write down the typical formula. But, I mean, it always helps if we just look at the model and, um, look at it right now to see what exactly is going on.

So, I mean, I offer you this, like, we can do that right now. Uh, or we can just give a summary of what the formula should be and what you should calculate. Uh, what would you like to do from here?

Hey, man, it’s up to you, man. If you’re tired, bro, you just set up a problem. You know, I just got on here, so I got fresh energy. So it’s up to you, really. But I mean, I’m not sharing my screen, but really it’s up to you. I mean, I know people are tired. They’ve probably been on here an hour. You look like you’re a little bit tired, so it’s up to you, man.

I’m good either way. I’m straight. So we are not launching tomorrow, so it don’t matter. Alright, well, well listen, let’s do this. Let’s get up your model. I’m curious to see it some, I I’m sensing that like your model, you know, I think it’s a bit complicated. Uh, but anyway, let’s look at your model and then, uh, and it matter if you can try to just understand, you know, the overall flow of it.

And the question that he’s asking, I’ve seen this one before. Okay. All right. So, yeah, I’m sharing my screen now. So, I didn’t set up this model. I actually use fiber. I highly recommend fiber. Um, and the guys on fiber, they created this model for me and basically long story short. The way he does it, the way it created is all my numbers connect to another one.

Like if you see here, how’s the sum of this, um, and then if I, if I kind of go up, um, as you see here, it says projected income cashflow is connected to another tab. That’s what I’m saying. So it’s all connected. So I don’t, so, and pretty much I want my final numbers to be like that to where One thing I don’t have to everything is uniform.

Everything is changed. I don’t have to go back. I didn’t change it here. So the numbers are so my IRR here is a direct connected directly connected to my cash flows. And then when I started doing my IRR, my IRR target is 20%. So my fund will reach that year six. So my carry interest will kick in around year six.

Where it goes from 18% to 34% because that’s when we actually start turning a profit, start making money, start doing that stuff, and the rest is, well, obviously these projections, anything can happen with the marketplace. Based on the projections, we reach out IRR around that period. Long story short, I want the property management commission is 13%, which we may lower a little bit now that we, before we were not charging a commission, but I don’t want to seem greedy, but now we’re charging a performance fee.

And what I’m saying is, because we’re trying to performance fee, I can kind of go down on our property management commission because at first we were a 3C1 fund and the 3C1 fund cannot charge commissions. So now that we can charge asset, oh now that we can charge performance fees, I mean performance fees, I can kind of go down on this property management fee to even it out.

But what I’m saying is for me to change that I would have to completely do everything but with a formula that’s together I can just simply change this to 11% and then everything, all the numbers are uniform across everything if that makes sense. So, my IRR will change, everything will change automatically.

But what I’m saying is, even if you look here with my numbers here,

on my final thing, even the numbers here are slightly different if you see. Even the numbers here, that’s what I’m saying. So, it’s like, every time I do the numbers, the numbers seem to be a little bit different. That’s why I keep having, even here you see I got two different numbers. So, The numbers just keep coming up different and that’s really frustrating for me.

It’s really confusing for me. And I’m just trying to get uniform numbers. Once I can get uniform numbers, I can close this chapter and be done with it. Okay, so before matter attempts to answer the question, uh, I’m just gonna try to do something to help out. So if you can take that question I asked and then compress that question, simplify the question just for matter’s consumption, so you can answer it, uh, if you well.

Well, my original question to you was, do y’all use a, um, a website or a formula to where I can just plug in these numbers? And get the number instead of having to give it to somebody like just like I said that website Do y’all have a website that y’all use or a formula model that you can just directly give to me that I can just plug in My numbers for example, I can just plug in my cash flow revenue.

I can just Same thing you see here. I can just plug it in and it gives me the result, basically. Unless y’all are doing all of this manually. Matter? Uh, what do you do? Yeah. No, I mean, uh, So basically, the issue is that the links aren’t really working the way you want it to. So some of the links are broken.

I mean, there’s no easy way to figure this out like this. I would need to look at the model and just see where the links are broken and just fix that. Uh, like, and I’ve seen this model, like, I know the main sheet wasn’t really linked to the other sheet. Uh properly and I think that was one of the issues when I was looking at it But yeah, exactly.

Yeah for the specifics. I would need to Investigate this and there’s no easy way to like just simply do that Like you’ll need to investigate the time and look at all the formulas and how the linking is working And that’s how you’ll figure out the formulas here and yeah, and whatever I gotta do man to make it as simple as possible because the issue the problem was It’s the worksheets.

The worksheets is kind of what caused confusion. The worksheets, because the worksheets is how I get to the numbers. And I always wanted to have, like, when I do my expenses, my expenses are very detailed. So I can see them not for the investor, but because I actually hide some of the tabs when I share it.

So I can see them. I’m talking about, cause I developed. Properties now. So I need to know exactly everything like how much is the paint gonna be like, you know what I’m saying? So I can have real Concrete numbers when I do this stuff So my numbers are a little more in depth and that does add more complexity to it because instead of me just saying Repairs, I’m actually going in depth to what the repairs will actually be You know what?

I mean, and I have all of those numbers linked To one number so I can have my numbers be as you know, like I said, I’m a data science. So, so I can have my numbers linked as detail as possible. So, so, so basically, the answer is you do it manually, but all right, well, that’s all I got. And I guess we’re gonna have to just set up another meeting.

I sent them to your guys to go through them again, but honestly, they just keep sending me back the same thing. And I’m like, maybe they not understanding what I’m asking. So we probably just gonna have to set up another meeting to kind of just go in and simply delete some things if I got to. Maybe I need to copy a private one just for me and, um, just, just figure out a way just to make it simplistic.

And, um, the numbers can just matter. And that’s, that’s really all I got. So, so in something to be productive, so then this, my, this Fiverr model here, what did, what did, because there’s no, so then you’re, you’re about to, you’re going to launch, I think in 30 days, would it make sense of, of just completely taking all the information of the model, completely removing this entire model and starting over from scratch with two tabs?

Like, do you think that that’s something that will be counterproductive? Yeah, I mean, well, I mean, what do you think, what do you think, like, whatever makes it simpler, like, if I need to create another one just to make it simpler, that’s cool, it’s whatever y’all got going on, that’s fine, like, I just want to get that part done so I can move past that part and actually focus on the investors and the compliance and that stuff, instead of just racking my mind over these numbers, so what, what, in your opinion, what do you think is best?

So yeah, this, the CFAs, they know, they more, they know more about the numbers than I do, but it looks like based on the models that I saw, you know, in this whole, in this whole thing, since I’ve been doing it, uh, it, it looks, it looks fine. It just looks a bit complicated, uh, unnecessarily because there’s some transactions that are pretty large that have a model that is simpler than this.

So I think it just became like scattered cables at some points. Um, so I don’t know. I think it would be productive just making one from scratch using your existing assumptions. And having as few tabs as possible without having the repairs and the details yet. And then once you’re just going, yeah, or you could just keep one tab, uh, like the main tab.

I think this is your main tab and all the other numbers that you need to see, like all of these, yeah, the final cashflow numbers. So just copy paste all of these to it, to the same tab, the cashflow worksheet tab. And then try to just link these two to the formulas above. So instead of having two separate, three separate sheets, just whatever information that you require in the cash flow.

So because cash flow worksheet is your main model. Yeah. And all these final cash flow numbers, you can just add these specific line items that you require in that and just put in the formulas for that. Or you can, even I can, I don’t know, uh, Natu, how you want to do that. Yeah, take, take, take the lead on that.

Because, uh, if you’re saying you can get those two tabs done, um, you know, and you can make it so that the four, so I think, I think there are two, there are two problems. One is one is just the, the visuals. Like, just like, use your, your, so you know your template, your, your, the typical template to use. So I think just put it in a simple template because, I mean, the highlighting and everything is kind of overwhelming.

So that’s one. Two is, yes, as you said, uh, keep the same model just with the final cash flow tab and the cash flow worksheet and putting that into your own version of it. Uh, then I think we can reason up from there. I would not even do that, but like we can easily fix this, uh, instead of using a new template.

Well, I would suggest, uh, if you want me to fix this, I would just request you to delete all the unnecessary tabs before you send it. And secondly, whatever data that you require that you want to show, just add that in the cashflow worksheet tab. Uh, whatever line items that you want the numbers for basically, or all the numbers that are in the final cash flow tab.

So just put, put it below there and I can put in the formulas and do all of that, but just give me what you require. But it’s the issue though, it’s the same issue. They’re linked to the other ones, like they’re linked, for example, like in… I have a final cash flow and I have projected income so on my cash flow instead of me just saying I’m gonna make this much money I’m I’ve actually like research the markets and that like actually broke down in those markets how much I can get like in real numbers for that like I broke it down to this and you know these numbers um are connected to my final

cash flow worksheet because like I said everything is So I guess what I would need is, I guess just one more meeting and we can just delete what does not need to be there. Maybe rearrange some stuff so I could just have simple, simple time. So even if I need to share this with anybody in the future, they can easily read it.

But, you know, I just kind of just wanted to break everything down so I can understand it for myself. So instead of just saying. 3D printer rental income. I really broke down the numbers. Okay. Well, how much do they make now? And how can we make that? And I really kind of broke down in detail. Um, and you know, I can hide these tabs.

No, and that is good information. You want to keep that information, but what I’m trying to tell you, tell you is, so even if Even if we can transfer all of that information Here, so for example like even the breakdown of this 3d printer rental income We can just show it above all of this So basically we’ll have the revenue drivers then we’ll have revenue And then we’ll have expenses below that then we’ll get to the beta net income number And then below that, we can do our valuations, uh, and all the, the, the IRR number or NPV number, all of that you require.

So just having it clean and… That’s what I need right there. Yes, that, that’s exactly what I need. That, that’s the solution right there. That’s it. Yeah. So, so that’s what I’m saying. So if… I can take a look at this. I can try to fix it, but yeah, I’ll need to spend some time before, uh, but I would suggest before you send it off, like just delete whatever you don’t need for sure and whatever duplicates.

So I can just take a look at. Uh, whatever is is remains and I can sort that out. Okay, done. All right. I’ll do that now when we get off and, um, do I just send it to the raises email to support that raise email? Oh, yes. All right.

Okay, good. So then, um, that’s it. And we’ll try to get it done quick so that we don’t extend it. But, uh, does that help or or any. Any other questions so basically your questions were basically around the financial model and then. And then the three C series. So do we capture it? Okay, cool. I’ll do my best.

I’ll talk to Bennett Jones, as I said, and, um, and then I’ll get that to you. Cause I personally, like, you know, I’m not privy to every, all that information myself, so, you know, make sure I get a response from them as well.

Cool, man. Appreciate it. No worries. No worries. All right, everyone. So I think that was productive. So everyone so same thing. We have the same Q and a call Wednesday at 11 a. m. Eastern. We’re back again, uh, Monday at 6 p. m. next week as well. Support at raises. com for any help or people can book one on one calls even and until next time, uh, you know, keep focusing on the raise.

Ask us for help and we’ll do our best to make sure that everybody goes in the right direction. So good work. Everybody. Thank you. No worries. Cheers.

 

 

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