how did the developer piece, where did that originate?

So I realized the only way I'm going to be able to build in business that I know I can count on for next year is by starting to do new construction.

And I had been looking for off markets and had found a great opportunity in Hidden Hills.

I reached out to someone I knew who had a lot of connections to developers, called them.

We brought some developers over to the property, wound up meeting a handful of people, and I actually wrote an offer on that property, this was in 2021, for $6.5 million, a cash offer, and a month later, an $8 million cash offer.

Both were turned down.

The seller said, I want more money.

And I'm guessing you're underwriting that deal for them.