Kurt Averall
๐ค SpeakerAppearances Over Time
Podcast Appearances
So we were super excited about that to have him lead that financing.
And we closed that in February.
The Series A was 15 and the seed was 2.4.
So we have raised roughly, well, on the debt side, there's several different sources of debt that we use to make this happen.
And it's probably in the 20 to $30 million right now on the debt side and the combination of everything collectively.
Yeah.
So it's really just designed to be acquisition debts.
We'll acquire the property in the first instance, and then the property will move hands to the new owners.
If that owner decides to finance a portion of their purchase of the share, then there will be some debt that remains on the property.
But in a lot of our homes, it's been cash buyers.
So that debt is financed out entirely.
And then the owners own the home outright kind of indefinitely.
So it depends on the geography in St.
George, Utah, which, again, is if you've ever seen the red rock, you know, of southern Utah, that's where that's where St.
George is.
So it's a beautiful, beautiful area.
It's actually a very big vacation destination.
You know, your homes are typically between two and three and a half million dollars in Newport Beach.
That that ranges from four and a half to eight million dollars.
You know, so we have two homes that are actually on the low end, you know, with four million.