Adam Fountain – It’s really based away from both endpoints. So, today’s value as well as finished value. After which our construction loans are arranged on a draw basis, in order for we periodically inspect and release more funds once the project gets built. But definitely, if a bit of dirt may be worth 50 grand, and they’re creating a 15 million dollar apartment building onto it, the first draw is not likely to be a million bucks. That’d be crazy. But yeah, therefore it’s really… Yeah, we choose to measure both.

Adam Hooper – which means you’ve seen on several other sources for individual money that is hard, you’re using Zestimates while the after completed value. And they’re basing their value away from a Zestimate, that we don’t even understand whenever we can say Zestimate, it could be trademarked. Is the fact that an audio strategy?

Adam Fountain – No. We don’t genuinely believe that’s a sound strategy. I am talking about, we… undoubtedly for us, as investment supervisors, we insist upon a full-blown 3rd party assessment. Comparable properties. We meet every debtor, we come across every home. After which as soon as we have the assessment, it certainly begins, our work starts there, because then we need to glance at the comps. We drive the comps that are placed in the appraisal. With regards to homework, there’s a washing directory of things we collect. We’re building the proverbial four-inch loan that is thick, that a bank might have for each one of these simple borrowers.

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