Our Crowdfunding Network Is Growing Part 23

We are inching closer to a signed engagement letter with a securities attorney for our new 506(c) fund and a TTW-like set of documents for specific deals. Hopefully we can have that signed in the coming few weeks to get things rolling. Our website's soft launch has been delayed a bit, but it is mainly for touch-up items and back-end integration.

We have plenty of accredited investor sources identified to market to and have already tried to drive small lists to Fundrise. The Fundrise destination is touch because is lack direct branding, etc. Organic traffic from the site is much easier, but this week has been slow too. We really need to get the Linden deal on the site to keep growing our network.

We tied up a new deal in 78704 today that has a 30-day option and a 90-day close. This will be our second deal with iFunding and we're exploring raising the money in two tranches for this deal. The first tranche will be for the land and part of pre-starts. The second tranche will be for the structure and build-out itself. We're exploring options about how to make this offering to investors and will be reaching out to the set of investors that invested in the 1122 Linden deal to see what makes the most sense.

Overall we're still making slow and steady progress. Groundbreaker reached out to us again today and ForeFund Capital's site is still not pulling anything. I haven't had a lot of time to devote to working with these folks because we're forging other professional relationships for larger deals that are coming later this year and other business development in general. Managing growth smartly continues to be a challenge with everything going on and many of our best professionals are having a hard time keeping up with our deal flow pace. We're trying to find suitable alternatives, but for now projects are just having to wait a bit longer than we'd like.