Nathan Latka

And what it's telling me is I think you're potentially beating $1.50 a door because you're doing some really creative things and adding value in other ways.

Is my read right there?

Okay, fair enough, fair enough.

Can we dig a bit deeper here on other business models?

You already talked earlier.

Why just do SaaS?

If you're already ingrained and a guy from the space like Dave knows the space well and you guys built this great code, why not do payments?

Why not do loans to community centers?

Why not do whatever?

How are you thinking about sort of what spaces to go into now that you have a beachhead, a mousetrap already in these 500 community manager relationships?

Okay, and that still today makes it more than call it 60% of your total annual revenue?

Interesting.

Okay, on the payments product, is that just a nice value add you do for free, or do you sort of take a traditional 2% to 3% take rate on GMV going through the platform?

Interesting.

Interesting business model, interesting use case, very specific niche, which we love.

Tell me more about the private equity store.

Again, you get going in 2018, you guys scale 2019.

When did you bootstrap up to?

Like when did you raise your first external capital?

Based off homes or revenue?