Podcasts about private placement memorandum

THIS IS NOT INVESTMENT ADVICE. INVESTING IS RISKY AND OFTEN PAINFUL. DO YOUR OWN RESEARCH.This week, we learned a few things.First, we learned the big round of central bank easing is probably over. For assets in general (stocks and bonds) to go up, the total amount of printing (easing) needs to increase. While the Fed wasn't easing, most other central banks were. This week, the Bank of Canada and the European Central Bank said they don't see the need to ease further (though the ECB cut rates). There is no pressure on the Bank of Japan to ease. Moreover, a report today on US unemployment was fine, which means there is no urgency for the Fed to cut rates. We went from central bank easing (COVID), to tightening (2022), to easing (2024–now), to today's no expected easing. There had been a broad belief that erratic White House policy would deal a blow to the US and global economy, forcing the Fed to ease. So far, policy seems to have dealt a significant blow to all of our attention spans but not the economy. This is miraculous, but the data suggests it is true. There is a lot of second-tier data showing slowing hiring, but not enough to move the Fed, which means we must now wait for another month. Perhaps the deportations are shrinking the available pool of labor and keeping unemployment down?Second, we learned a fiscal bill is almost certain to be passed soon in the US, with the deficit clocking in at somewhere between 6% and 7%. The only entity that can borrow at scale at these interest rates is the US government. To increase private sector borrowing, interest rates must come down. To get interest rates down, government borrowing must decrease, and that doesn't look like it will happen. This bill is going to be passed despite many thoughtful people saying the same thing Musk is, which is that the deficit is too big. The conversation I share here with Pennsylvania Senator David McCormick (and my former boss) sheds light not only on his new book, Who Believed in You? (co-written with his wife, Dina), but also on what the budget debate looks like from the perspective of a US Senator. As he makes clear, President Trump believes he has a clear mandate to cut taxes, so cut taxes he will. This package, combined with the healthy jobs data, suggests that interest rates could move higher. At some point, this hurts the stock market because why take a flier on AI stocks when a 30-year bond pays you 5.5%? And as we figure this out, listen to Dave and Dina's advice and both seek out great mentors and try to provide the same for others. Third, we learned that trade uncertainty is going to last a long time. Remember that US trade partners were supposed to submit their offers on Wednesday? Nothing doing. Many other deadlines have come and gone. The US has less leverage than it appears. The global trading system is complex and has evolved over decades. So, the US can get justifiably upset about fentanyl, but then China finds a lever to hurt the US (rare earths), and the conflict goes slow. Xi made ample time to meet with Belarus's Lukashenko last week and scarce time to talk to Trump. Why rush? China, like Russia, believes it is winning. This trade uncertainty is one more reason why the Fed will do nothing unless unemployment rises sharply. The tariffs are high, well over 10%, so at some point, this should whack spending, as should higher interest rates.Fourth, we learned that billions of dollars in conventional military spending are not effective against drones. If Ukraine can take out Russia's bombers with drones, then the same can happen to any other major power. This means in a dangerous world, where conflict in Asia can erupt at any moment, the fundamental techniques of modern warfare are in flux and it is less clear who has the upper hand.Where does this leave me?The AI boom is real and ongoing.The Fed (and other central banks) are on hold until unemployment goes up, which means bond yields will probably go to the upper end of their range.Institutional investors are wary of a pro-risk stance (long stocks, short bonds) because of what happened in April (stocks down 20%) and the ongoing haze of tariffs. This probably makes it more likely for stocks to crawl higher. The value of assets that have little to do with the above, like stable cash flow stocks or idiosyncratic bonds, is high, as are assets that can hedge geopolitical conflict. NOTE TO READERS: I'm at a conference next week, so unlikely I'll have time to post. This document is strictly confidential and is intended for authorized recipients of “A Letter from Paul” (the “Letter”) only. It includes personal opinions that are current as of the date of this Letter and does not represent the official positions of Kate Capital LLC (“Kate Capital”). This letter is presented for discussion purposes only and is not intended as investment advice, an offer, or solicitation with respect to the purchase or sale of any security. Any unauthorized copying, disclosure, or distribution of the material in this presentation is strictly forbidden without the express written consent of Paul Podolsky or Kate Capital LLC.If an investment idea is discussed in the Letter, there is no guarantee that the investment objective will be achieved. Past performance is not indicative of future results, which may vary. Actual results may differ materially from those expressed or implied. Unless otherwise noted, the valuation of the specific investment opportunity contained within this presentation is based upon information and data available as of the date these materials were prepared.An investment with Kate Capital is speculative and involves significant risks, including the potential loss of all or a substantial portion of invested capital, the potential use of leverage, and the lack of liquidity of an investment. Recipients should not assume that securities or any companies identified in this presentation, or otherwise related to the information in this presentation, are, have been or will be, investments held by accounts managed by Kate Capital or that investments in any such securities have been or will be profitable. Please refer to the Private Placement Memorandum, and Kate Capital's Form ADV, available at www.advisorinfo.sec.gov, for important information about an investment with Kate Capital.Any companies identified herein in which Kate Capital is invested do not represent all of the investments made or recommended for any account managed by Kate Capital. Certain information presented herein has been supplied by third parties, including management or agents of the underlying portfolio company. While Kate Capital believes such information to be accurate, it has relied upon such third parties to provide accurate information and has not independently verified such information.The graphs, charts, and other visual aids are provided for informational purposes only. None of these graphs, charts, or visual aids can of themselves be used to make investment decisions. No representation is made that these will assist any person in making investment decisions and no graph, chart or other visual aid can capture all factors and variables required in making such decisions. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit paulpodolsky.substack.com

THIS IS NOT INVESTMENT ADVICE. INVESTING IS RISKY AND OFTEN PAINFUL. DO YOUR OWN RESEARCH.A confluence of events caught my attention this week. Here's what I noted:* The Chief Justice of the Supreme Court verbally intervened to defend the judiciary.* The Federal Reserve said they won't raise rates if tariffs boost inflation, but they will cut them if tariffs hurt growth.* The April 2 deadline to impose sweeping, across-the-board tariffs (the administration is calling it “Liberation Day”) turns out to be a day where they might announce high tariffs—subject to discussion and lawsuits, which could take months—rather than implement them.* Technical, flow-based measures on the stock market became more two-sided and possibly, temporarily, supportive.I suspect a bear market has been set in motion, but there will be ebbs and flows. The ingredients for the bear market are high valuations, tariffs, and long positioning. I say “suspect” because, so far, we lack hard data on a sharp decline in actual economic activity, which will be required for the bear market to manifest. We only have soft data that reflects high uncertainty. The key question is—will many people lose their jobs? So far, fears of this have skyrocketed, but actual evidence of mass firings is scant. If tariffs are aggressively implemented, firings will come.Recent bear markets unfold in five stages—down, up, down, up, and down—and it is only in the final down phase that most investors finally retch into a can, declare defeat, and swear off stocks. Timing such ebbs and flows is devilishly complex, and even the best practitioners can capture only parts of them, which is why bear markets are so destructive to wealth. Either they hurt your compounding (some popular stocks like Meta fell as much as 70% only a few years ago), or shorting them causes massive oscillations in wealth and mood.As a result, once a bear market arrives, I look for catalysts that could catch people unawares—either making things worse or leading to a squeeze higher. This week has a number of them, hence this note. I'll discuss each in turn as well as, further down, introduce my podcast guest. The administration launched a policy blitzkrieg, large parts of which have been judged illegal. These challenges will now make their way through the courts. Musk and the administration have attacked judges who challenged their decisions. As a result, Chief Justice Roberts stated:“For more than two centuries, it has been established that impeachment is not an appropriate response to disagreement concerning a judicial decision. The normal appellate review process exists for that purpose.”He is making it clear that the Supreme Court is not, unlike the Senate, a pliant observer. They want to uphold the balance of power.Second, the Fed met this week and did nothing in terms of policy but did provide guidance. Powell dismissed inflationary pressure in the data as irrelevant. In essence, he said that if the Fed sees any weakness in growth, they will cut rates, regardless of inflation. Stocks and bonds rallied, but now bonds are priced such that if any data turn out not to be weak, bonds will run into a problem, which will then hurt stocks.Third, the administration went quiet on tariffs—until this morning when Trump tweeted about Liberation Day. In recent months, any time key administration members opened their mouths about tariffs, stocks promptly fell, which is what happened again today. What exactly happens on April 2? We don't know. It may be a day when they claim to apply tariffs but, in reality, only name their levels. I try to visualize the incentives of different leaders. While Putin operates with geopolitical and territorial ambitions involving overt aggression, Trump's approach is centered at least as much on maintaining prominence in the national conversation. These are different objectives. In Trump's case, the trade policy narrative—like the use of tariffs—can function as a serialized story, drawing ongoing attention much like a long-running TV drama. So, an April 2 announcement may simply transition into the next chapter or it may be something more dire. To help frame my understanding, I interviewed Jennifer Dresden, a strategist at Protect Democracy.org and an expert in authoritarianism. I found the conversation helpful and hope you do as well.Lastly, stock market flows: There is a cottage industry of people who analyze equity flows at major banks. The net of this “wisdom” now is that a lot of fast money (like commodity trading advisors) is short stocks, meaning that if pension funds or others come in to buy stocks at the end of the quarter, they could trigger a short squeeze and drive stocks (temporarily) sharply higher. Eventually, I suspect protracted drama will crush the economy, but it may take a while. We have yet to see hard data demonstrating this. Until we do, US stocks might go violently sideways or even up. If evidence emerges that this policy is hurting growth, watch out—markets will move so fast you won't be able to keep up. Bear markets are tough. I'm told that teams of traders have already been fired due to the AI rout. This document is strictly confidential and is intended for authorized recipients of “A Letter from Paul” (the “Letter”) only. It includes personal opinions that are current as of the date of this Letter and does not represent the official positions of Kate Capital LLC (“Kate Capital”). This letter is presented for discussion purposes only and is not intended as investment advice, an offer, or solicitation with respect to the purchase or sale of any security. Any unauthorized copying, disclosure, or distribution of the material in this presentation is strictly forbidden without the express written consent of Paul Podolsky or Kate Capital LLC.If an investment idea is discussed in the Letter, there is no guarantee that the investment objective will be achieved. Past performance is not indicative of future results, which may vary. Actual results may differ materially from those expressed or implied. Unless otherwise noted, the valuation of the specific investment opportunity contained within this presentation is based upon information and data available as of the date these materials were prepared.An investment with Kate Capital is speculative and involves significant risks, including the potential loss of all or a substantial portion of invested capital, the potential use of leverage, and the lack of liquidity of an investment. Recipients should not assume that securities or any companies identified in this presentation, or otherwise related to the information in this presentation, are, have been or will be, investments held by accounts managed by Kate Capital or that investments in any such securities have been or will be profitable. Please refer to the Private Placement Memorandum, and Kate Capital's Form ADV, available at www.advisorinfo.sec.gov, for important information about an investment with Kate Capital.Any companies identified herein in which Kate Capital is invested do not represent all of the investments made or recommended for any account managed by Kate Capital. Certain information presented herein has been supplied by third parties, including management or agents of the underlying portfolio company. While Kate Capital believes such information to be accurate, it has relied upon such third parties to provide accurate information and has not independently verified such information.The graphs, charts, and other visual aids are provided for informational purposes only. None of these graphs, charts, or visual aids can of themselves be used to make investment decisions. No representation is made that these will assist any person in making investment decisions and no graph, chart or other visual aid can capture all factors and variables required in making such decisions. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit paulpodolsky.substack.com

THIS IS NOT INVESTMENT ADVICE. INVESTING IS RISKY AND OFTEN PAINFUL. DO YOUR OWN RESEARCH. Today, I want to share a podcast, a China update, and discuss the D.C. fiscal/monetary standoff.PodcastBill Bishop writes the Sinocism Substack. I find reading Bill's missives helpful in keeping me on top of what is going on in China and wanted to hear his story, which I think you will find interesting as well. This relates to the second topic, what will happen in China?ChinaChina is the second biggest economy in the world and because the volatility of its growth is higher than the volatility of US growth, is more important than the US in determining the swings in growth. There are a number of assets that are cheap … if China rebounds. But these assets, like commodities and the stocks of companies whose earnings are significantly influenced by China, are traps if China doesn't solve its challenges. It's also true deflationary pressures globally will intensify if China continues to struggle. That's important for monetary policy everywhere.To put numbers around the problem, China is a $19T economy with roughly $8T of bad debt, mostly tied to real estate developers and local governments. Defining what exactly “bad” is isn't straightforward; a debtor who is having trouble repaying their debts qualifies. Once the debt is bad, the economy can freeze. The debt is a contract that then needs to be re-negotiated or defaulted on. This is the same thing that happened in the US in 2008. A chunk of income goes to servicing the debt, hurting demand. Corporate profits in China are declining, down 7.5% in November from a year ago, which reflects this freeze. This is self-reinforcing and it only breaks when the government (which is the only entity that can still meaingfully borrow) borrows, prints and both weakens its currency and buys back the bad debt. It's less ideology than physics. From what I can tell, China is not doing this. While there are a lot of policy actions, nothing seems to be tackling the debt issue in its entirety. A system like China is different than Western systems. Power is concentrated versus dispersed. For instance, even with Republicans in control of the US White House, Congress, and Supreme Court, Trump has been buffeted. Gaetz didn't get through, and neither did abandoning the debt limit. In China or Russia, one person controls everything. Sometimes this person is more liberal—like Deng Xiaoping or Gorbachev, and these places evolve. Sometimes this person is more conservative—like Stalin and Mao or Putin and Xi, and these places stagnate or go backward. When Xi was told his policies would produce deflation (which makes the debt squeeze worse), his answer supposedly was, “what's wrong with that?”That evidence suggests an authoritarian leader is doing a bad job often has little bearing on policy. Putin is killing a significant chunk of his own population (not to mention Ukrainians), and he shows no signs of letting up. Ditto Stalin and Mao, who oversaw the most costly man-made starvation in the history of governance. While I see lots of cheap assets tied to China's growth, I can't bring myself to buy them. It looks like bad risk/reward. The US Monetary Fiscal BattleWhen I look at the set-up going into Trump's reign, it is also complicated. Stock valuation is high, the market is long, the budget deficit is 6% and the Fed is discounted to cut just one more time. The best aspect of the setup is that bond yields have risen 100 basis points and are now close to the top of their range.Underneath the surface, a battle is underway. The White House agenda is tariffs and tax cuts. If Trump brings on these policies on day #1, I suspect we get a bond sell-off that is big enough to whack the stock market, possibly hard. The Fed will be reluctant to cut interest rates given that these policies are in part inflationary. They said as much earlier this month.If Trump surprises, however, he will come out with efforts to reduce the budget deficit and cut taxes only for the middle class, not rich people. He could also talk about tariffs but not implement them. Those policy choices, plus slowing growth and inflation, would give the Fed room to cut interest rates, which can fuel another up leg in the stock market. Said differently, to get what Trump wants—a boom—he needs to give up on something else he wants—tariffs and tax cuts. I'm skeptical he will make this pivot unless the financial markets fall apart. Trump is both powerful and unpredictable. He ran on policies not that different than Richard Nixon—law and order, strong growth, and reducing foreign entanglements (then Vietnam) with dignity. But what will Trump 2.0 mean in practice? Is he anti-immigration (Maga) or pro-immigration for hi-tech workers (Elon)? Is he for big tax cuts or reigning in wasteful spending? It's worth remembering that Nixon was responsible for one of the biggest financial shifts in the last 100 years—the end of the Bretton Woods system of fixed exchange rates. This did not come up in his campaign, of course. Could we be in for a change that dramatic? Maybe. A dollar devaluation would certainly spur growth and the dollar is at its highest level in real terms in decades. My plan is to wait for hard facts and adjust accordingly, perhaps substantially. Happy New Year, and thanks for reading. I am taking a few days off in the beginning of the year, so will get back to you later in January. This document is strictly confidential and is intended for authorized recipients of “A Letter from Paul” (the “Letter”) only. It includes personal opinions that are current as of the date of this Letter and does not represent the official positions of Kate Capital LLC (“Kate Capital”). This letter is presented for discussion purposes only and is not intended as investment advice, an offer, or solicitation with respect to the purchase or sale of any security. Any unauthorized copying, disclosure, or distribution of the material in this presentation is strictly forbidden without the express written consent of Paul Podolsky or Kate Capital LLC.If an investment idea is discussed in the Letter, there is no guarantee that the investment objective will be achieved. Past performance is not indicative of future results, which may vary. Actual results may differ materially from those expressed or implied. Unless otherwise noted, the valuation of the specific investment opportunity contained within this presentation is based upon information and data available as of the date these materials were prepared.An investment with Kate Capital is speculative and involves significant risks, including the potential loss of all or a substantial portion of invested capital, the potential use of leverage, and the lack of liquidity of an investment. Recipients should not assume that securities or any companies identified in this presentation, or otherwise related to the information in this presentation, are, have been or will be, investments held by accounts managed by Kate Capital or that investments in any such securities have been or will be profitable. Please refer to the Private Placement Memorandum, and Kate Capital's Form ADV, available at www.advisorinfo.sec.gov, for important information about an investment with Kate Capital.Any companies identified herein in which Kate Capital is invested do not represent all of the investments made or recommended for any account managed by Kate Capital. Certain information presented herein has been supplied by third parties, including management or agents of the underlying portfolio company. While Kate Capital believes such information to be accurate, it has relied upon such third parties to provide accurate information and has not independently verified such information.The graphs, charts, and other visual aids are provided for informational purposes only. None of these graphs, charts, or visual aids can of themselves be used to make investment decisions. No representation is made that these will assist any person in making investment decisions and no graph, chart or other visual aid can capture all factors and variables required in making such decisions. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit paulpodolsky.substack.com

THIS IS NOT INVESTMENT ADVICE. INVESTING IS RISKY AND OFTEN PAINFUL. DO YOUR OWN RESEARCH.There are about 45,000 Russian casualties a month now in Ukraine. That equates to a rate of 540,000 soldiers per year or about 1% of Russia's male, fighting-age population, thus the call to North Korea to supply troops. About 15% of Russia's population died in World War 2, so today's losses are modest in comparison but by modern standards an incomprehensible cost for territorial gain. Almost all of those who die come from Russia's hinterlands. An American equivalent would be if the Pentagon emptied US jails, drafted from the poorest zip codes, sent them to attack Canada, and then gave generous cash packages to the next of kin. Some provincial Russians have even welcomed the war because the poorest, most alcoholic locals have been disposed of and replaced with a cash subsidy. The question is if President-elect Trump will view Putin's negotiating position as strong. I don't know the answer. I do know Trump's answer has vast implications for geopolitics. China is weighing Taiwan, Iran is weighing its tactic of spreading death and chaos in the Middle East. This also matters for US government finances, bond yields, and equity valuations. Today, I want to talk about the policy choice and financial implications and also share a conversation I had with Lt. Gen (Ret) HR McMaster, Trump's former National Security Advisor. He offers a perspective I lack and I am grateful he made the time to talk with me and allowed me to share that conversation with you. US Policy DecisionWhile Republicans control the White House and Congress, there are splinters within the Party. Some are isolationists, others are internationalists. HR does not share his affiliation but he believes the US can be a force for good. If someone like Musk wants to cut government spending, he needs to slash either social security, medicare, or defense. Slashing defense would narrow the US budget deficit and be a radical restructuring of the global order. But such a sharp jag is off-brand for traditional Republicans. A report by Senator Wicker (R. Miss) is making the rounds. It is titled “Peace Through Strength” and is clearly meant for Trump's desk. Below is an excerpt. I put the key sentence in bold. America's national defense strategy and military budget are inadequate for the dangerous world in which we find ourselves. An emerging axis of aggressors is working to undermine U.S. interests across the globe. Congress and military leaders agree: The United States has not faced such a dangerous threat environment since the years before World War II. The epicenter of this test is Ukraine. Regardless of Party, US Presidents have not wanted to deal with Russia for the last quarter century. It's far away, has almost no economic relationship with the US, and is highly corrupt. But time and again, US Presidents have been forced to focus on Russia in a way that has sometimes sabotaged their domestic agenda. Could this happen to Trump 2.0?ContextPutin took over on December 31, 1999. Not long after problems began developing and each US President sought their best to ignore them for the same reason—they didn't want to engage in conflict. However, this has only allowed the situation in Russia to metastasize. This echoes the same process that unfolded in Germany in the 1930s, so Wicker's comment is apt. While Russian assassinations at home and abroad began early in Putin's reign, the key events where the US whiffed was when:* Russia annexed parts of Georgia under President Bush in 2008.* Russia annexed Crimea in 2014 under President Obama.* Russia fired on Ukrainian ships in 2018 traveling between Ukrainian ports under President Trump.* Russia invaded Ukraine in 2022 under President Biden.In each case, the response was bumbling and timid. Note that Russia and the US both signed the 1994 Budapest Memorandum whereby Ukraine gave up its nukes in return for its borders being secured. While it sounds extreme, I don't think it is a stretch to say that this is the 1930s with Putin playing the role of Hitler and the US playing the role of UK's Neville Chamberlain. Russia has slowly been swallowing more territory, violating international law, and threatening the West with nuclear war if the West intervenes. The assassinations on Western territory continue. Just last week, the UK foiled a Russian plot to murder investigative journalist Christo Grozev. If Putin isn't stopped in Ukraine, I believe he will move on, possibly to the Baltics. Fiscal ImplicationsThe US budget deficit is currently at 6%, even as the economy is strong. This is unusual. The only solution to narrow the deficit is by raising taxes and cutting spending. The solution isn't conceptually complicated but it is politically toxic. But what will Trump do? From what I can tell reading McMaster's books, Trump is conflicted. He wants to appear “strong” and also hates foreign entanglements. His ideal environments are neater, like Trump Tower or Mar a Lago or a golf course he owns. If he were to quickly sign a peace deal with Putin, I suspect Trump would look weak. But Ukraine is exactly the type of mess he wants to avoid. To deter Russia, the US is going to need to spend a lot of money. McMaster said he thought the US defense budget needed to go from 3% of GDP to 5% of GDP. Without tax hikes, that would drive the deficit to 8% of GDP and possibly drive bond yields to 5% or 6%. This then would hit the stock and housing markets. Since Trump got elected, US bond yields have fallen. It's interesting and counter-intuitive unless one thinks a significant adjustment in government spending is coming. This is also a bet that the Fed will cut rates later this month, of course. To be sure, If the Fed were strictly following an inflation mandate, they would not cut. Inflation in the US is around 3%. The target is 2%. The last major inflation print of the year comes out next week and is expected to be 3.3%. Trump confronting Putin is not in anyone's expectations. But if he goes down that route, it certainly is not priced into markets. This document is strictly confidential and is intended for authorized recipients of “A Letter from Paul” (the “Letter”) only. It includes personal opinions that are current as of the date of this Letter and does not represent the official positions of Kate Capital LLC (“Kate Capital”). This letter is presented for discussion purposes only and is not intended as investment advice, an offer, or solicitation with respect to the purchase or sale of any security. Any unauthorized copying, disclosure, or distribution of the material in this presentation is strictly forbidden without the express written consent of Paul Podolsky or Kate Capital LLC.If an investment idea is discussed in the Letter, there is no guarantee that the investment objective will be achieved. Past performance is not indicative of future results, which may vary. Actual results may differ materially from those expressed or implied. Unless otherwise noted, the valuation of the specific investment opportunity contained within this presentation is based upon information and data available as of the date these materials were prepared.An investment with Kate Capital is speculative and involves significant risks, including the potential loss of all or a substantial portion of invested capital, the potential use of leverage, and the lack of liquidity of an investment. Recipients should not assume that securities or any companies identified in this presentation, or otherwise related to the information in this presentation, are, have been or will be, investments held by accounts managed by Kate Capital or that investments in any such securities have been or will be profitable. Please refer to the Private Placement Memorandum, and Kate Capital's Form ADV, available at www.advisorinfo.sec.gov, for important information about an investment with Kate Capital.Any companies identified herein in which Kate Capital is invested do not represent all of the investments made or recommended for any account managed by Kate Capital. Certain information presented herein has been supplied by third parties, including management or agents of the underlying portfolio company. While Kate Capital believes such information to be accurate, it has relied upon such third parties to provide accurate information and has not independently verified such information.The graphs, charts, and other visual aids are provided for informational purposes only. None of these graphs, charts, or visual aids can of themselves be used to make investment decisions. No representation is made that these will assist any person in making investment decisions and no graph, chart or other visual aid can capture all factors and variables required in making such decisions. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit paulpodolsky.substack.com

If navigating the complexities of real estate investing leaves you feeling confused and uncertain, you're not alone! Many passive investors struggle with understanding the processes and financial requirements involved, resulting in missed opportunities and potential losses. You might feel discouraged by the learning curve instead of empowered to make informed investment decisions.In this episode, we answer some of the most commonly asked questions we get from passive investors in real estate. You'll learn how the process works, what happens if a deal doesn't end up happening, and how to put your best foot forward, guiding you toward becoming a successful, confident investor.Tom Stein serves as the Director of Investor Relations at Breneman Capital, where he has played a pivotal role since 2019. Tom's expertise in managing investor communications and syndication deals has contributed to Breneman Capital's growth and success. Known for his practical insights and comprehensive knowledge in real estate investments, Tom's approach focuses on ensuring investor satisfaction and transparency. Through his work, he continues to facilitate high-yield, tax-efficient investment opportunities, guiding investors through the real estate landscape with precision.“We make more money as you make more money. It's quite simple. And it aligns interest.” - Tom SteinIn this episode you will learn:The detailed investment process at Breneman Capital, including the timeline from contract to close and the communication methods with investors.Essential legal documents involved in investing, such as the Private Placement Memorandum, Operating Agreement, and Subscription Agreement.The accreditation requirements for investors and the significance of ensuring compliance with SEC regulations.The tax advantages of real estate investments, including depreciation, interest deductions, and 1031 exchanges.The structure and benefits of using LLCs for real estate investments to isolate financial risks and manage properties effectively.Key insights into the fee structure and deal strategy at Breneman Capital, emphasizing alignment of interests between investors and sponsors.ResourcesConnect with Tom on Linkedin: https://www.linkedin.com/in/tom-stein-2b311589/ This podcast was produced by the team at Zapods Podcast Agency:https://www.zapods.com----------Breneman Capital: https://www.breneman.comInvestor List: https://www.breneman.com/investPassive RE Investor Guidebook: https://www.breneman.com/downloadsConnect with Drew on LinkedIn: https://www.linkedin.com/in/drewbreneman

EPISODE SUMMARY: Join Dr. Jason Ballara and Rachel McFarlane, our investor relations guru, on a special live event episode, where they join forces to demystify the complex world of real estate syndication. They don't just skim the surface; they drill down into the pivotal roles of general and limited partners and unveil the legal scaffolding that underpins these investments. If you're ready to scale the heights of multifamily real estate or simply looking to understand what sets it apart from personal property management, this episode holds the blueprint to your ambitions. Navigating the rapids of residential versus commercial multifamily lending, we cast a line into the murky waters of financing. While discussing how a few units can shift a property's classification, we float the benefits of owner-occupied loans and weigh anchor on the financial resilience of real estate. Whether you're considering dipping your toes into larger multifamily properties or just want to anchor down your knowledge of interest rates and self-directed IRAs, our candid conversation sets sail to chart these territories for you. Steering through the regulatory currents, we reflect on the buoyancy of real estate investments amidst market fluctuations and explore the harbors of opportunity zones. With a keen eye on the lighthouse of SEC compliance, we guide you through the legal landscape of Regulation A offerings and the intricacies of 506B and 506C exemptions. While at the helm, Dr. Ballara also signals a course towards the newly unveiled LarkCapital.com and the rich repository of resources it offers to navigate your investment journey. Join us, as we share the collective 'why' that propels us and our esteemed guests forward in the dynamic seas of real estate investing. Special Mention to Song Saney, executive assistant of Dr.Jason Ballara. EPISODE CHAPTERS: (0:00:00) - Understanding Syndication in Real Estate Investing Real estate syndication structure, roles of active and passive partners, accessibility of commercial properties, and dispelling misconceptions for investors. (0:10:35) - Residential vs Commercial Multifamily Lending Multifamily real estate includes properties with 5+ units, with different financing options and benefits for larger properties. (0:26:00) - Real Estate Investments & SEC Regulations Real estate resilience, interest rates, self-directed IRAs, opportunity zones, SEC regulations, Private Placement Memorandum, and government incentives. (0:37:59) - Real Estate Investing Regulations and Interactions Regulation A offerings, 506B and 506C exemptions, accredited investor qualifications, marketing restrictions, and real estate accessibility. (0:53:36) - Updated Website and Podcast With Dr. Ballara Revamped LarkCapital.com offers blog, podcast, deal room, social media connections, and inspiring interviews on Know Your Why podcast. If you want to know more about Dr. Jason Balara and the Know your Why Podcast: https://linktr.ee/jasonbalara Audio Track: Back To The Wood by Audionautix is licensed under a Creative Commons Attribution 4.0 license. https://creativecommons.org/licenses/by/4.0/ Artist: http://audionautix.com/  

Join us on the latest episode of Passive Investing from Left Field, as we dive deep into the world of commercial real estate investing with special guest Ryan Gibson, co-founder of Spartan Investment Group. Ryan, formerly an airline pilot turned real estate mogul, shares the turbulent journey of transitioning into the self-storage industry and the strategies that propelled him to success. Discover the exciting opportunities and hurdles of syndicated investments, the significance of transparent investor communication, and innovative ideas for generating passive income.About Ryan GibsonRyan Gibson is a co-founder of Spartan Investment Group and a former airline pilot who made a successful pivot to real estate investing, focusing on self-storage. His entrepreneurial spirit was evident early on when he provided affordable housing for pilots through organized crash pads. Today, his expertise and leadership have contributed to the growth and resilience of his company amidst market fluctuations and financing challenges. Ryan also hosts the Passive Income for Pilots podcast, sharing valuable insights on building passive income. With a strong emphasis on managing investor expectations and capital preservation, his strategic approach to investment, particularly in ground-up development and value-added projects, has made Ryan a recognized voice in the passive investing community. Here are some power takeaways from today's conversation:00:00 The Best Ever Conference01:31 Tribevest Ad02:03 Coming Up02:22 Intro02:40 Welcome to the show03:43 Ryan's journey into  real estate investing07:45 What are pilot crash pads 10:36 How he got his start in real estate investing11:50 Where is the market at right now15:36 Disruption is good for self-storage19:20 Who Is buying from who21:21 Viking Ad22:08 Rise 48 Ad22:37Tyler Longview's portfolio25:56 How he handles challenges26:49 Buying multiple properties32:43 Investor expectations38:29 Types of development43:57 Recommended podcast44:41 Contact45:03 Aspen Fund Ad45:46 Vyzer Ad46:31 Guest Overview49:52 Outro50:18 Disclaimer Episode Highlights:1.  Ryan Gibson, co-founder of Spartan Investment Group and former airline pilot, shares his journey from pilot crash pads to successful self-storage real estate investing and hosting a podcast for high-earning professionals.2. The episode covers Ryan's experiences with the challenges of financing and selling properties in a fluctuating market and his strategic approach to overcoming those challenges including transparent communication with investors and prioritizing capital preservation.3. Ryan discusses the intricacies of deal structuring and the benefits of ground-up development in the self-storage industry, highlighting how they manage risks and expectations as detailed in the Private Placement Memorandum.4. Industry insights reveal that self-storage thrives on disruption and that the market conditions currently favor development projects, amidst issues such as decreased demand due to a slowdown in home sales and moves.5. The significance of the self-storage market is emphasized with the business still being strong and attractive to investors, despite some portfolios facing struggles.This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting.Resources Mentioned:Contact The Guest: LinkedIn Instagram Facebook YouTube Avoiding Rookie Errors as a Left Field Investor: 20 Lessons Learned From 14 Years of Passive Investing in Private Syndications by Steve SuhPodcast Recommendations:Motley Fool MoneyThe Walker WebcastAll In Podcast Advertising Partners:Left Field Investors - BECTribevestRise48Aspen FundsGSP REISpartan Investment GroupVyzer

Are you prepared to get strategic with your senior assisted living housing investments? Ready to unlock the power of the 1031 exchange and learn how to defer those pesky capital gain taxes? Our guest, Scott Saunders, Senior Vice President at Asset Preservation Incorporated, will guide us through the complexities of this tax-deferring tool. He'll shed light on the potential benefits, like stimulating job creation and fostering economic self-sufficiency.We'll dissect the concept of like-kind properties and discuss the role of a qualified intermediary in facilitating a smooth property swap. Scott will also guide us through the pros and cons of a Delaware Statutory Trust (DST). But don't worry, it's not all tax jargon and real estate terms. Scott shares insights into the qualifications of an accredited investor and emphasizes the importance of studying the Private Placement Memorandum to better understand investment opportunities. In the latter part, we'll embark on a journey through the timeline of a 1031 exchange, navigate the 45-day identification period, and the 180-day closing period. Scott will introduce us to two popular property identification rules, the three property rule and the 200% rule, explaining their significance in a successful 1031 exchange. Lastly, Scott underscores the importance of having a knowledgeable intermediary and a tax advisor alongside to maximize the benefits of your investments in senior living housing. Get ready to enhance your financial literacy and investment savvy in this enlightening episode.

An efficient capital raising process fosters business expansion, job creation and economic growth. And FINRA's members play an important role in this vital piece of our capital markets. Currently, FINRA's soliciting comments on the impact FINRA's Rules have on the capital formation process, as it looks for ways to increase efficiency and reduce unnecessary burdens. On this episode, we'll dig more into this process and FINRA's recent Request for Comment with Joe Price, Senior Vice President of Corporate Financing and Advertising Regulation, and discuss the recent Regulatory Notice 23-09 on FINRA's Rules impacting capital formation.Resources mentioned in this episode:Reg Notice 23-09: Capital Formation Request for CommentReg Notice 17-14: Request for Comment on FINRA Rules Impacting Capital FormationFINRA RulesSEC EDGAR DatabaseFrequently Asked Questions About Private PlacementsFINRA Board of Governors

In this episode of the Passive Cash Flow Podcast, Aron Fragnito is joined by Erik Weingold, a seasoned securities attorney, to discuss everything you need to know about Private Placement Memorandums (PPMs) and when you might need one. They delve into the details of Regulation D, a regulatory framework that governs private securities offerings, and provide valuable insights for anyone considering raising funds through a private placement. Please Tune in to gain a comprehensive understanding of PPMs and their role in passive cash flow investments.Finally, Erik and Aron outline the benefits of having a well-crafted PPM. They explain how a PPM can help you raise money, attract better investors, and reduce legal risks Through Q And A.[Erik Weingold is Managing Partner at PPM LAWYERS (www.ppmlawyers.com), the leading professional legal services firm uniquely focused on preparing the most professional and complete private placement memorandum (PPMs) for entrepreneurs and startups. Visit - www.ppmlawyers.com to know more.]If you found this video helpful, please give it a thumbs up and consider subscribing to our channel for more informative content. And if you know someone who could benefit from learning about PPMs, please share this video with them.www.peoplescapitalgroup.cominstagram.comwww.facebook.com/peoplescapitalgrouptwitter.com/PCGrealestatelinkedin.com/company/peoples-capital-groupyoutube.com#NJRealEstateInvesting#AaronFragnito#PassiveCashFlow#PCG#aaronfragnito#njrealestateinvesting#passivecashflow#realestate#realestateinvesting#accreditedinvestors#investing#sophisticated--00:00 Introduction03:36 What is a PPM and When Do You Need One07:52 Investing on speculation11:35 Investing with friends and family17:16 Options to avoid PPM21:52 Filing with the SEC30:32 What happens with violations40:04 Tips for raising capital43:02 Q&A58:50 How we help people Invest--This is not a solicitation for funds, tax advice, or legal advice. This is not intended to be, and must not be construed to be in any form or manner a solicitation of investment funds or a securities offering. Peoples Capital Group LLC is NOT a United States Securities Dealer or Broker nor U. S. Investment Adviser is a Consultant/service provider and makes no warranties or representations as to the listener or viewer. All due diligence is the responsibility of the investor.Support the show

ROYAL LEGAL SOLUTIONS Learn how to free your time, protect your assets, and create lasting wealth with asset protection attorney and long-time real estate investor, Scott Royal Smith. When a close friend lost over $3 million in a single lawsuit, Scott decided to leave his litigation practice to help people protect themselves from frivolous lawsuits. His law firm, Royal Legal Solutions, now helps thousands of real estate investors and entrepreneurs protect more than $1.2 billion in assets. Join Scott as he deconstructs the lawsuit game and shows you how to protect yourself and your hard-earned wealth.*********************************************************************************KEY TAKEAWAYSSeth Bradley, Esq., managing partner at Law Capital Partners met with our group to discuss PPM formation. A PPM or Private Placement Memorandum is a legal document and serves to disclose all the details of a deal for a potential investor. Discover the intricacies of each part of a PPM including:Summary of OfferingOfferingUse of FundsCompanyManagementBusiness PlanFeesDistributionsRisk FactorsInvestor Suitability and QualificationsInstructions to InvestSubscription AgreementOperating AgreementBONUS: Slide Deck (PDF)Ready to go beyond basics and take your education to the next level? Get FREE Access to the Asset Protection Vault. This resource contains all of our video Masterclasses, ebooks, and other educational materials.*********************************************************************************FACEBOOK: Join our exclusive group to discover the tax, legal, & asset protection secrets every real estate investor needs to know. https://www.facebook.com/groups/495820367909918/

How do you decide whether a real estate syndication investment is suitable for you? Before investing your money in a syndication deal, you, as a passive investor, should clear your mind of major worries by asking the operator the right questions until you are confident that the investment makes sense. So, take the time to do your due diligence, conduct research, and ask the right questions upfront.Our second episode with Philippe Schulligen offers insight and practical advice in evaluating operators and syndication investment offers. Philippe details accountabilities to be expected from an operator while the passive investors must assume some responsibilities as well. Hear how deals can be structured, some systems of distribution of returns, and how you can diversify your investments. It's #TechAndTacticsTuesday and we're here to help you learn the right questions to ask before investing in real estate syndication.Key Points From This Episode: Philippe talks about the responsibilities of the operator in syndication.What are the responsibilities of the passive investor investing in syndication?What is a PPM or Private Placement Memorandum?How can a syndication deal be structured?How should a passive investor evaluate and select a deal structure?How you can diversify your investments in different markets?What's Philippe's worst real estate failure? Philippe's contact details.Tweetables:“If you don't want all your eggs in the same basket, you don't want to keep investing with the same sponsor over and over again because they're going to be in the same market."“That's probably the ultimate way to provide an incentive to the general partners, to have the deal perform very well.”“It becomes interesting to go and work with different sponsors which are in different markets, or with groups who are working as co-sponsors with these experienced sponsors in different markets. That's how you can diversify your investments.”“Stay on top of the deal by reading the monthly update.”Links Mentioned in Today's Episode:Boost Capital GroupPhilippe Schulligen on LinkedInSend Philippe an email.About Philippe Schulligen Philippe is co-founder of Boost Capital Group, a firm dedicated to helping busy professionals and parents who want to preserve and boost their capital through passive real estate investments.Prior to that, Philippe founded Five Five Five Ventures where he gained first-hand experience in commercial multifamily real estate acquisitions, syndications, assets management, and dispositions. He has acquired 2,400+ units, a $140M+ portfolio and contributed to raising $29M from investors. Philippe also shares his experience with new entrepreneurs as a mentor, and with investors and sponsors/operators as an advisor for analyzing deals.Before being full-time in real estate, Philippe worked a corporate job in the business and military aircraft industry in project and team management positions for over 20 years. He holds a master's degree in science – mechanical engineering. 

Free Trial! Join the Private Money Academy: https://www.JayConner.com/trial/ Private Money Academy Conference: https://www.jayconner.com/learnrealestate/ Free Report: https://www.jayconner.com/MoneyReport Investing in real estate syndications has been the best vehicle for Aileen Prak to achieve her goals. In today’s episode, Jay Conner and his guest Aileen, talk about her commitment to sharing her knowledge with others to educate them on the remarkable advantages that investing in real estate syndications has to offer so that they too can create time and freedom to live their lives by their own design. Aileen is a real estate investor and the Co-Founder of Bonavest Capital. Her focus is on investing in multifamily syndications both actively and passively across different markets in the US. She has experience managing financial budgets for billion-dollar projects in the Aerospace Industry. She received her Master of Business Administration from Northeastern University. As a working professional and a parent of 2 young children, she realized the importance of creating time and freedom for her family. She always wants to be there for her children’s milestones, to be actively present in their childhood, and be there to witness them growing up. But, having full-time jobs can be very challenging. Now, Aileen invests her income passively and lets the money do the work. Not only has it helped free up her time to spend with family, but it has also helped to clear her mind off worries for her children’s future by building generational wealth her children can build upon. Aileen is also the co-host of the weekday podcast How Did They Do It? Real Estate, where they have interviewed almost 500 real estate experts. Timestamps: 0:01 - Get Ready To Be Plugged Into The Money 0:28 - Today’s guest: Aileen Prak 2:57 - What is Real Estate Syndication? 3:33 - Who Are the Private Investors? 4:41 - Benefits Of Investing In Syndications: Private Investors 7:50 - Different Asset Classes 9:59 - Range Rate Of Return 12:41 - The Best Exit Strategy When Investing In RE Syndication 13:57 - Ways To Improve The Valuations Of A Property 16:16 - The Private Placement Memorandum 18:23 - Minimum Amount You Need To Invest In Syndication 19:12 - Connect with Aileen Prak: https://www.BonavestCapital.com 19:42 - Get educated with RE Syndications: https://www.BonavestCapital.com/checklist 22:33 - Where Do You Find Private Investors? 24:22 - What Did Your Business Look Like Before Using Private Money? 25:37 - Private Money Is What You Are Missing In Your RE Business 27:39 - Investing In Private Money Is A Win-Win Scenario 28:39 - What You Need To Know Before Investing In RE Syndication. Youtube Video Link: https://youtu.be/QC6o_ug-Sd4 Have you read Jay’s new book: Where to Get The Money Now? It is available FREE (all you pay is the shipping and handling) at https://www.JayConner.com/Book Real Estate Cashflow Conference: https://www.jayconner.com/learnrealestate/ Free Webinar: http://bit.ly/jaymoneypodcast Jay Conner is a proven real estate investment leader. Without using his own money or credit, Jay maximizes creative methods to buy and sell properties with profits averaging $64,000 per deal. What is Real Estate Investing? Live Cashflow Conference https://youtu.be/QyeBbDOF4wo The Conner Marketing Group Inc.P.O. Box 1276, Morehead City, NC USA 28557 P 252-808-2927F 252-240-2504 Channel https://www.youtube.com/channel/UCZfl6O7pRhyX5R-rRuSnK6w https://www.youtube.com/c/RealEstateInvestingWithJayConner RSS Feed http://realestateinvestingdeals.mypodcastworld.com/rss2.xml Google Play https://play.google.com/music/listen#/ps/Ihrzsai7jo7awj2e7nhhwfsv47y iTunes: https://itunes.apple.com/ca/podcast/real-estate-investing-minus-bank-flipping-houses-foreclosure/id1377723034 Watch on ROKU: Roku https://my.roku.com/add/realestateinvestingRoku https://my.roku.com/add/realestateinvesting Watch on Amazon Prime: https://www.amazon.com/How-Locate-Real-Estate-Deals/dp/B07M9WNZR6/ref=sr_1_3

Daily Meeting - Personal Finance 23: Apartment Complexes and Money MindsetBegan with a disclaimerThis Business Plan contains privileged and confidential information and unauthorized use of this information in any manner is strictly prohibited. If you are not the intended recipient, please notify the sender immediately. This Business Plan is for informational purposes and not intended to be a general solicitation or securities offering of any kind. The information contained herein is from sources believed to be reliable, however no representation by Sponsor(s), either expressed or implied, is made as to the accuracy of any information on this property and all investors should conduct their own research to determine the accuracy of any statements made. An investment in this offering will be a speculative investment and subject to significant risks and therefore investors are encouraged to consult with their personal legal and tax advisors. Neither the Sponsor(s), nor their representatives, officers, employees, affiliates, sub-contractor or vendors provide tax, legal or investment advice. Nothing in this document is intended to be or should be construed as such advice. The SEC has not passed upon the merits of or given its approval to the securities, the terms of the offering, or the accuracy or completeness of any offering materials. However, prior to making any decision to contribute capital, all investors must review and execute the Private Placement Memorandum and related offering document.Don't think of 6 figures; think 7 figuresDon't think of being comfortable; think of being comfortable in massive overflowYou can do all of the due diligence, not have any money, and get in an apartment investing dealAnnouncementsMen's Encounter — $99 9/3/22For men onlyIn a waning moonWomen's Encounter — $999/10/22For women onlyOn the day of a harvest full moonAscension Conferences3 big conferences6/10/229/9/2212/16/22WanderCon5-day conferenceDec. 12-16, 2022$4,997$97 for anyone who talks to Grace or FredaAll esotericAll personal developmentAll self-helpDay 1: Evaluation DayDay 2: Discover DayDay 3: Relationship DayDay 4: Transformation DayDay 5: Ascension DayHow to Do Due Diligence on An Apartment ComplexBuying an Apartment Building - Multi Family Real Estate Due Diligence Process Explainedhttps://www.youtube.com/watch?v=ashbu77_43k What are the key metrics you look for when buying a property?Where it's locatedA major metropolitan area 40-unit building$130,000 per unitYou get paid because the doors are flowing moneyYou want to cash flow to get the money from each doorMake sure your complex is 100% occupied5 people you need to analyze a property:A. PlumbersB. Mechanical contractorC. RoofersD. AppraiserE. Professional engineerAntonio's real estate deal is in the Dallas Galleria area145 unitsInvestment was done in 506 (c) for accredited investors (people that make a certain amount of money and have a certain level of education) Minimum investment was $50,000 Investment Highlights• Post renovation upside of $194 per unit• Amazing location surrounded by 3 Fortune 10 companies, 22 Fortune 500 companies,and 45 Fortune 1000 companies, and many more companies migrating to DFW• Rare chance to buy 34 additional condos to add to our 111 unit purchase, to qualify thenext buyer for agency lending and lower rates, as we achieve 80% ownership• Tremendous unit mix of 12% one bedrooms, 64% two bedrooms, 12% two bedroomtownhomes, and 12% 3 bedrooms• Strong sponsor team with track record of 15 Texas properties If the numbers work, you're getting that dealIf you have terrible credit, all you need are the numbers and collateral for the deal to work80% funded, 20% down if it's a deal that's asking for collateralLet your cash flow pile up so it can go towards your next apartment complex; that way, you're not using your moneyWhen you're interested in investing in an apartment complex, you need to have a letter of intent, and the letter must be acceptedYou should have 4 lawyers:Criminal lawyerReal estate lawyerBusiness lawyerTax lawyerReal Estate Letter of Intenthttps://s3.us-central-1.wasabisys.com/40webinars/RealEstateLetterofIntent.pages Grant Cardone Real Estate Episodeshttps://www.youtube.com/watch?v=urWPYZ-lTPQ&list=PLnZ0O70oWnJZYgwZCPRG_bc6wEiIfnK5p Support this podcast at — https://redcircle.com/the-secret-to-success/exclusive-contentAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

Daily Meeting - Personal Finance 23: Apartment Complexes and Money MindsetBegan with a disclaimerThis Business Plan contains privileged and confidential information and unauthorized use of this information in any manner is strictly prohibited. If you are not the intended recipient, please notify the sender immediately. This Business Plan is for informational purposes and not intended to be a general solicitation or securities offering of any kind. The information contained herein is from sources believed to be reliable, however no representation by Sponsor(s), either expressed or implied, is made as to the accuracy of any information on this property and all investors should conduct their own research to determine the accuracy of any statements made. An investment in this offering will be a speculative investment and subject to significant risks and therefore investors are encouraged to consult with their personal legal and tax advisors. Neither the Sponsor(s), nor their representatives, officers, employees, affiliates, sub-contractor or vendors provide tax, legal or investment advice. Nothing in this document is intended to be or should be construed as such advice. The SEC has not passed upon the merits of or given its approval to the securities, the terms of the offering, or the accuracy or completeness of any offering materials. However, prior to making any decision to contribute capital, all investors must review and execute the Private Placement Memorandum and related offering document.Don't think of 6 figures; think 7 figuresDon't think of being comfortable; think of being comfortable in massive overflowYou can do all of the due diligence, not have any money, and get in an apartment investing dealAnnouncementsMen's Encounter — $99 9/3/22For men onlyIn a waning moonWomen's Encounter — $999/10/22For women onlyOn the day of a harvest full moonAscension Conferences3 big conferences6/10/229/9/2212/16/22WanderCon5-day conferenceDec. 12-16, 2022$4,997$97 for anyone who talks to Grace or FredaAll esotericAll personal developmentAll self-helpDay 1: Evaluation DayDay 2: Discover DayDay 3: Relationship DayDay 4: Transformation DayDay 5: Ascension DayHow to Do Due Diligence on An Apartment ComplexBuying an Apartment Building - Multi Family Real Estate Due Diligence Process Explainedhttps://www.youtube.com/watch?v=ashbu77_43k What are the key metrics you look for when buying a property?Where it's locatedA major metropolitan area 40-unit building$130,000 per unitYou get paid because the doors are flowing moneyYou want to cash flow to get the money from each doorMake sure your complex is 100% occupied5 people you need to analyze a property:A. PlumbersB. Mechanical contractorC. RoofersD. AppraiserE. Professional engineerAntonio's real estate deal is in the Dallas Galleria area145 unitsInvestment was done in 506 (c) for accredited investors (people that make a certain amount of money and have a certain level of education) Minimum investment was $50,000 Investment Highlights• Post renovation upside of $194 per unit• Amazing location surrounded by 3 Fortune 10 companies, 22 Fortune 500 companies,and 45 Fortune 1000 companies, and many more companies migrating to DFW• Rare chance to buy 34 additional condos to add to our 111 unit purchase, to qualify thenext buyer for agency lending and lower rates, as we achieve 80% ownership• Tremendous unit mix of 12% one bedrooms, 64% two bedrooms, 12% two bedroomtownhomes, and 12% 3 bedrooms• Strong sponsor team with track record of 15 Texas properties If the numbers work, you're getting that dealIf you have terrible credit, all you need are the numbers and collateral for the deal to work80% funded, 20% down if it's a deal that's asking for collateralLet your cash flow pile up so it can go towards your next apartment complex; that way, you're not using your moneyWhen you're interested in investing in an apartment complex, you need to have a letter of intent, and the letter must be acceptedYou should have 4 lawyers:Criminal lawyerReal estate lawyerBusiness lawyerTax lawyerReal Estate Letter of Intenthttps://s3.us-central-1.wasabisys.com/40webinars/RealEstateLetterofIntent.pages Grant Cardone Real Estate Episodeshttps://www.youtube.com/watch?v=urWPYZ-lTPQ&list=PLnZ0O70oWnJZYgwZCPRG_bc6wEiIfnK5p Support this podcast at — https://redcircle.com/the-secret-to-success/exclusive-contentAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

In today's show, Pancham interviews Bethany LaFlam - managing partner of Premier Law Group PLLC and co-creator of Asherah's Box. Her role in providing legal counseling and strategic matters to clients has helped protect syndicators and passive investors to stay out of legal troubles, a modern-day hero indeed! Following her entrepreneurial desires, she has now launched her own subscription box business and has been managing them since! In this episode, she will showcase her expertise as she shares legal advice and the green and red flags to look out for when investing in a syndication deal! She'll also share her knowledge on the basics of public and private offerings, and what you should know about the Private Placement Memorandum. Listen and enjoy the show!   Quote: “When I started doing PPM for these syndication deals, I'm like “What do you mean there's cash flow?” I am just enamored by this world now and having the law background has provided sort of different color for that.” Timestamped Shownotes: 0:38 - Pancham introduces Bethany to the show 2:47 - Her law career and how she learned about real estate investing  4:33 - Major differences between private and public offerings 10:14 - The 3 main factors to look out for in a syndicated deal 13:52 - Circumstances that limited partners need to be responsible for 16:47 - Rule 506(c) vs. Rule 506(b) offering from an operator's viewpoint 20:09 - Taking the Leap Round 20:09 - Launching her business as her investment outside of Wall Street 24:05 - Her fears when she started her subscription box business 25:10 - Raising funds as her investment that didn't work out 26:00 - Why rookie investors should go and invest right now 26:56 - Platforms where you can contact and connect with Bethany 3 Key Points: Don't invest with an operator who guarantees you positive returns as it's not allowed. As a limited partner, you're protected from those and the liability would go to the operator. It's important to tell potential investors about the potential risks in a deal upfront instead of telling them after they've made their investment. You can't solicit or advertise your deals publicly if you're conducting an offering under Rule 506(b) thus, seeing those offerings in social media is a red flag to look out for. Get in Touch: Bethany LaFlam Email for Legal Advices - bethany@plglp.com Asherah's Box Website - https://asherahsbox.com/ Bethany LaFlam Email for Asherah's Box - bethany@asherahsbox.com Get your free copy of the “Top 6 Reasons To Invest Outside of Wall Street” at https://thegoldcollarinvestor.com/download/ The Gold Collar Investor Club - https://thegoldcollarinvestor.com/club/ Pancham Gupta Email - p@thegoldcollarinvestor.com

Welcome to DST 1031 Essentials with Kay Properties — An in-depth look at the many recurring themes and nuances to the Delaware Statutory Trust (DST) investment process.   Topics will cover 1031 exchanges, ins and outs of the Delaware Statutory Trust structure, timing, cash investing, REITS, funds, real estate and more.   The kpi1031.com platform not only provides access to these 25+ different sponsor companies, but also custom DSTs only available to Kay clients, full due diligence and vetting on each DST property on the platform (typically 20-40 DSTs), and an active DST secondary market. Kay Properties team members collectively have over 150 years of real estate experience, are licensed in all 50 states, and have participated in over 30 Billion of DST 1031 investments.   In this week's episode, Vice President Matt McFarland and Senior Vice President Jason Salmon talk about the importance of a private placement memorandum and what investors should be looking for/understanding in a document like this. They also go into how they structure this document and the journey they help their investors through as they begin to purchase DST real estate.    Key Takeaways: [0:55] Risks and disclosures. [4:00] About Kay Properties & Investments. [4:45] Matt introduces Betty and today's topic. [5:45] Why is a Private Placement Memorandum (PPM) so important? [11:30] A quick overview of what a PPM usually looks like. [16:35] What should you be looking for in the executive summary? [20:15] A big part of what Kay Properties does is diagnose, categorize, and understand risk when it comes to investing in real estate.   Resources Website: https://www.kpi1031.com/ Call Kay Properties at 855-899-4597 Meet the Kay Properties Team: kpi1031.com/meet-our-team   About Kay Properties and www.kpi1031.com    Securities offered through FNEX Capital member FINRA, SIPC. Potential returns and appreciation are never guaranteed and loss of principal is possible.  Please speak with your CPA and attorney for tax and legal advice.

If you put money in a fund, does it start working immediately for you? Or does it sit there earning nothing for a while?     Find out the answer to this “ Ugly Question” and more in today's episode of Passive Wealth Show with Bill Fairman, Wendy Sweet and Jonathan Davis of Carolina Capital Management.   Timestamp: 0:01 -  “Does your money go to work right away?” 0:32 -  Introduction 0:55 - https://www.CarolinaHardMoney.com 1:12 -  New Program: Long-Term loan for Single-Family Residences 4:34 - Breaking News 12:04 - Ugly Question: “If I Invest on a Fund Does My Money Go to Work Right Away?” 12: 41 - Equity Positions Fund 14:41 - Lending in Debt Position 15:55 - Private Placement Memorandum 17:53 - How to Invest In Syndications Value ad 18:55 - Wednesday With Wendy : https://calendly.com/wendysweet/wednesdays-with-wendy 23:19 - Next Show with Jesse Russell : https://www.youtube.com/watch?v=b7XVCahqbMo Carolina Capital is a hard money lender serving the needs of the “Real Estate Investor” and the "Small Builder" borrower who is striving to build wealth and generate income for themselves and their families. We offer “hard money rehab loans” and "Ground-up Construction Loans" for investors only in NC, SC, GA, VA, and TN (some areas of FL, as well). As part of our business practices, we also serve as consultants for investors guiding them to network with other investors and educating them in locating and structuring transactions. Rarely, if ever, will you find a hard money lender willing to invest in your success like Carolina Capital Management. Listen to our Podcast: https://thealternativeinvestor.libsyn.com/ Subscribe: http://thealternativeinvestor.libsyn.com/rss Visit our website: https://carolinahardmoney.com YouTube Channel: https://www.youtube.com/channel/UCYzCFOvEt2n9TchgECLwpww/ Facebook: https://www.facebook.com/CarolinaHardMoney/ #Northcarolinahardmoneylenders #Southcarolinahardmoneylenders #HardMoney #RealEstateInvesting #realestatefinancing #mortgage #privatelending  

Jeremy Roll is the President of Roll Investment Group and Co-Founder of For Investors by Investors – a Community started in 2007 with the goal of facilitating networking and education for real estate investors. In this episode Jeremy talks about giving up control in an investment in order to gain diversification and leverage the time and experience of others.Jeremy discusses how he is currently focusing on short term investments such as hard money loans on flips and assets that do not rely on appreciation such as ATM's.  He is interested in cash flow and a quick payback period during the current market.Jeremy talks about self storage and mobile homes as two of his top asset classes over the next ten years as well as his preference for single asset investments and when he feels comfortable investing in funds.Jeremy discusses some of the main things to look for in the Private Placement Memorandum and the LLC Operating Agreement and his belief in the necessity of doing background checks on sponsors before investing.Below are the links to companies he uses for background checks:https://www.accurint.comhttps://www.tlo.com/Jeremy believes a critical component of investing success is to create your own box and make sure that the deals you invest in meet the criteria you select – if a deal doesn't fit inside your own personal box, then you should not invest in it.Podcasts he recommends:Best Real Estate Investing Advice Ever Podcast with Joe FairlessCash Flow Ninja  Cash Flow Connections with Hunter Thompson To connect with Jeremy, send him an email at jroll@rollinvestments.com.If you would like to contact Jim Pfeifer, you can email him at jim@leftfieldinvestors.com or if you would like to find out more about Left Field Investors go to www.leftfieldinvestors.com. Our sponsor, Tribevest provides the easiest way to form, fund, and manage your Investor Tribe with people you know like, and trust.  Tribevest is the Investor Tribe management platform of choice for Jim Pfeifer and the Left Field Investor's Community.  Tribevest is a strategic partner and sponsor of Passive Investing from Left Field.  

So far in 2021, we have been featuring new opportunities in the property management industry. One area not yet explored on the show is Real Estate Syndication.  As a general definition, real estate syndication is a partnership between several investors. They combine their skills and capital to purchase and manage a property they otherwise could not afford. If you’ve got an eye for a good deal and good partners, this might be a great opportunity to explore in 2021, either as the syndicator or as an investor.On this episode of Property Management Brainstorm, Bob discusses the topic of Real Estate Syndication with AJ Shepard of Uptown Property Management, Portland Oregon. He and his company are expanding their business by syndicating real estate, pooling money from investors to buy larger, more profitable, and more stable projects. We are excited to hear what he has to say and how he views this area of opportunity for investors and property management companies. Topics Covered[2:40] AJ introduces himself, his company, and how he got started in Real Estate Syndication.[6:30] AJ gives explains the term “real estate syndication”.[9:00]  What are the possible legal and financial structures for real estate syndication arrangements? [12:25] When identifying a real estate syndication project, what comes first, the chicken or the egg?[16:05] Building an investor network for funding real estate syndication projects.[17:15] Bob and AJ discuss the various steps and sequence of putting a project and deal together. [22:10] Communicating with investors and sending a Private Placement Memorandum to present the financial structure of the project.[23:40] AJ provides his definition of Return on Investment, Cap Rate, and Internal Rate of Return (IRR).[28:25] As a syndicator, hiring yourself as the property management company.[32:50] Communication and information shared by the syndicator to the investors.[36:25] AJ shares a story of a family property located in Mexico that has been passed down through generations.Connect to Uptown Property Management and Syndication AJ Shepard on LinkedInConnect to the Westside Investor Network Podcast Connect with BobNorth County Property GroupThis episode is always available for listening, sharing, or download at Property Management Brainstorm. Subscribe to Property Management Brainstorm on Apple Podcasts, Google Podcasts, Stitcher, Spotify,  TunedIn,  iHeart Radio and YouTube.

This episode is also available as a blog post: https://10leaves.ae/publications/difc/required-documents-for-a-fund-in-the-difc Starting an investment fund not only requires deep understanding what investment strategies, but also of the various structures available and the documents required for these structures. Broadly speaking, there are two main categories of hedge fund structures in the DIFC – partnerships and investment companies. Let's take a closer look at the documents required to setup partnerships and investment company-related structures in the DIFC. For DIFC-investment companies: 1. Private Placement Memorandum. 2. Subscription Agreement (for investors). 3. Investment Management Agreement. 4. Fund Constitution. For DIFC Partnerships: 1. Private Placement Memorandum. 2. Limited Partnership Agreeement. 3. Subscription Agreement (for investors). 4. Investment Management Agreement.

This episode is also available as a blog post: https://10leaves.ae/publications/difc/hedge-funds-in-the-difc Setting up a fund in the DIFC requires either a) setting up a Domestic Fund Manager or b) licensing an existing fund manager in a recognized jurisdiction, to act as the External Fund Manager of the DIFC fund. Read this article to know more about the licensing process and associated costs. A hedge fund in the DIFC will also need to appoint some service providers to carry out critical functions, such as fund administration and audits. Read this article on the different services associated with maintaining a hedge fund in the DIFC. Did you know that a Private Placement Memorandum, or PPM, is the key document for DIFC Investment funds? The PPM details material information on the fund and serves as the backbone of the legal documentation involved. Read this article to know more about the documents required for setting up a hedge fund in the DIFC.

ABOUT JAY HINRICHSJay began his career in Real Estate in 1975 and has been involved in all aspects of the industry including timber and wood product harvesting, hard money lending, and single-family residential development. He became President of Langer Mortgage in Oakland, California, began a company called Cedar Mountain and Silverado Group LLC.  Jay's current business is Short Term Lending in a Capital Partner Model.  Jay has also become a new home builder in two markets; Portland, Oregon and Charleston, South Carolina.  WHAT YOU WILL HEAR[1:21] His journey on Real estate career[5:38] How Fractional mortgages differ in California from Oregon[7:30] His experience on getting out of bankruptcy[9:50] How he started with building subdivisions[13:40] How he bridge the gap from being a Real estate professional to an Investor[16:40] When and how he started buying properties [19:13] Good Structure for Hard money deals[20:28] Stigma of Using hard money[23:24] Examples of good hard money deals to use for[29:45] Advice on how to raise capital without using hard money[30:48] Most Recent Deals [36:16] How to start building your track record[38:51] Advice to his-25-year-old self[40:03] First Entrepreneurial Endeavor[42:18] His Formal and Informal training that shaped his journey[43:26] The Deal that Got Away KEY QUOTES:[10:58] I tell my staff, “You see, 3 or 4 years from now, what we are doing today, we will not be doing that, we'll be doing something else. It will be real estate-based, but it will be completely something different and something new.''[14:32] Generally speaking, you can't earn enough money just by selling real estate to become a massive investor. You can start small and over time, you definitely can if you're buying in the right places, if the market is good and you keep on rolling it up.[20:53] “Some people find it scary to use hard money because they don't fully understand the full scope of our financial system”.      [28:11] We all lose money in Real estate, if you haven't lost money, it's either you're the smartest guy in the planet or you haven't done many.  Keywords:▪ ARV (After Repair Value) = the estimate of a property's value after all repairs and upgrades are completed.▪ PPM (Private Placement Memorandum) = is a legal document provided to prospective investors when selling stock or another security in a business Summary of Business:JLH Capital Partners is a family-run business with industry expert Jay Hinrichs at the helm. Our primary lines of business have grown to include residential development, commercial and bridge lending, and partnering with seasoned real estate professionals to pursue a myriad of joint venture projects. ABOUT THE WESTSIDE INVESTORS NETWORK        The Westside Investors Network, is your community for investing knowledge for growth. For real estate professionals by real estate professionals. This show is focused on the next step in your career... investing, for those starting with nothing to multifamily syndication.      The Westside Investors Network strives to bring knowledge and education to the real estate professional that is seeking to gain more freedom in their life. The host's AJ and Chris Shepard, are committed to sharing the wealth of knowledge that they have gained throughout the years to allow others the opportunity to learn and grow in their investing. They own Uptown Properties, a successful Property Management and Brokerage Company. If you are interested in Property Management in the Portland Metro or Bend Metro Areas please visit www.uptownpm.com. If you are interested in investing in multifamily syndication please visit www.uptownsyndication.com.   #investmentproperties #realestaterecap #undercontract #listings #realtors #investor #motivation #brokers #investments #wholesaleproperties #entrepreneurs #thinkandgrowrich #businessopportunity #earnmore #beyourownboss #additionalincome #propertymanagement #rentals #passiveincome #realestate #success #wealth #financialfreedom #motivation #money #debtfree #finance #debtfreedom #debts #mortgage #lender #home #mortgagelender #loangoals #realestate #investing #realestateinvesting #entrepreneurship #hustle #businessowner #realestateinvestor  You may contact Jay via:Email: jay@jaylhinrichs.comLinkedIn: https://www.linkedin.com/in/jay-hinrichs-732a802b/Website: https://jlhcapitalpartners.com/Social Media: ▪ Facebook: https://www.facebook.com/jay.hinrichs.395▪ Instagram: https://www.instagram.com/jlhcapital/  CONNECT WITH USFor more information about investing with AJ and Chris: ·       Uptown Syndication | https://www.uptownsyndication.com/·       LinkedIn | https://www.linkedin.com/company/71673294/admin/ For information on Portland Property Management:·       Uptown Properties | http://www.uptownpm.com·       Youtube | @UptownProperties Westside Investors Network·       Website | https://www.westsideinvestorsnetwork.com/·       Twitter | https://twitter.com/WIN_pdx·       Instagram | @westsideinvestorsnetwork·       LinkedIn | https://www.linkedin.com/groups/13949165/·       Facebook | @WestsideInvestorsNetwork·       Youtube | @WestsideInvestorsNetwork  

For today’s episode, we will be discussing Private Placement Memorandum (PPM). We will learn why business owners create a PPM, what its specific contents are, and why this is nobody’s favorite document. In the PPM, there’s a part where we will need our legal team. What do you think is that part? We will answer that… and more in another episode of Multifamily Investing Made Simple in under 10 minutes.Tweetable Quotes:“If you’ve made it to the PPM section and you don’t know your operator really well, and their experience, and the team around them, that’s really weird and you’ve done something probably wrong.” - Anthony Vicino“Those risk factors, they’re gonna give you some particular insight into things like where the issues potentially might be with the business plan.” - Anthony Vicino LEAVE A REVIEW if you liked this episode!!Keep up with the podcast! Follow us on Apple, Stitcher, Google, and other podcast streaming platforms. To learn more, visit us at: https://www.invictuscapitalventures.com**Want to learn more about investing with us?**We’d love to learn more about you and your investment goals. Please fill out this form and let’s schedule a call: https://invictuscapitalventures.com/contact/**Let’s Connect On Social Media!**LinkedIn: https://www.linkedin.com/company/11681388/admin/Facebook: https://www.facebook.com/invictuscapitalventures/YouTube: https://bit.ly/2Lc0ctX

Welcome to Sponsor Stories with Kay Properties — An in-depth look at over 25 Delaware Statutory Trust (DST) Sponsor Companies that investors have access to on the kpi1031.com marketplace. The kpi1031.com marketplace platform not only provides access to these 25+ different sponsor companies, but also custom DSTs only available to Kay clients, full due diligence and vetting on each DST property on the platform (typically 20-40 DSTs), and a DST secondary market. Kay Properties team members collectively have over 115 years of real estate experience, are licensed in all 50 states, and have participated in over 15 Billion of DST 1031 investments.    In this episode, you will be hearing from our Senior Vice President and Managing Director of Real Estate Analytics, Jason Salmon. He interviews John Wagner of Cove Capital about their due diligence process in acquiring a property, their debt free DST program, and shares a little bit about Cove Capital’s potential exit strategy.    Key Takeaways: [2:50] Customer risk and disclosures. [4:35] A little bit about Kay Properties. [5:55] John shares what he does at Cove Capital.  [7:55] In what asset classes and in what states does John like to focus? [11:05] John explains a bit more about Cove Capital's process of acquiring a property.  [13:25] What is John working on right now? He talks about the Cove DC MSA Medical DST.  [18:55] What is Cove Capital’s investment strategy? [21:45] John dives into Cove Capital’s potential exit strategy.  [24:30] Interested in working with Kay Properties? Reach out!    Resources Website: https://www.kpi1031.com/ Call Kay Properties at 855-899-4597 Meet the Kay Properties Team: kpi1031.com/meet-our-team   About Kay Properties and www.kpi1031.com    Kay Properties is a national Delaware Statutory Trust (DST) investment firm. The www.kpi1031.com platform provides access to the marketplace of DSTs from over 25 different sponsor companies, custom DSTs only available to Kay clients, independent advice on DST sponsor companies, full due diligence and vetting on each DST (typically 20-40 DSTs) and a DST secondary market.  Kay Properties team members collectively have over 115 years of real estate experience, are licensed in all 50 states, and have participated in over 15 Billion of DST 1031 investments.       This material does not constitute an offer to sell nor a solicitation of an offer to buy any security. Such offers can be made only by the confidential Private Placement Memorandum (the “Memorandum”). Please read the entire Memorandum paying special attention to the risk section prior to investing.  IRC Section 1031, IRC Section 1033 and IRC Section 721 are complex tax codes therefore you should consult your tax or legal professional for details regarding your situation.  There are material risks associated with investing in real estate securities including illiquidity, vacancies, general market conditions and competition, lack of operating history, interest rate risks, general risks of owning/operating commercial and multifamily properties, financing risks, potential adverse tax consequences, general economic risks, development risks and long hold periods. There is a risk of loss of the entire investment principal. Past performance is not a guarantee of future results. Potential cash flow, potential returns and potential appreciation are not guaranteed. Securities offered through Growth Capital Services member FINRA, SIPC Office of Supervisory Jurisdiction located at 582 Market Street, Suite 300, San Francisco, CA 94104.

Going through the process of raising capital for the deals that we plan can become a long and arduous process, especially when we're new to the business. With the Private Placement Memorandum (PPM) there are so many details leading to even more unanswered questions — how do you fill out this document? Or, what does that question mean? Today on the show we are joined by Gene Trowbridge. Whether you are an operator or passive investor, Gene will be able to give you a better understanding of not only what you are looking at, but essentially what you are looking for as well. 

Welcome to Sponsor Stories with Kay Properties — An in depth look at over 25 Delaware Statutory Trust (DST) Sponsor Companies that investors have access to on the kpi1031.com marketplace. The kpi1031.com platform not only provides access to these 25+ different sponsor companies, but also custom DSTs only available to Kay clients, full due diligence and vetting on each DST property on the platform (typically 20-40 DSTs), and an active DST secondary market. Kay Properties team members collectively have over 115 years of real estate experience, are licensed in all 50 states, and have participated in over 15 Billion of DST 1031 investments.    Today, you will be hearing from our Senior Vice President and the Managing Director of Real Estate Analytics, Jason Salmon as he interviews Andy Wang of Passco about keeping the risk minimal for his retired clientele, why new apartment complexes are his preferred investment asset class, and Passco’s extensive 20+ years of experience in the marketplace.   Key Takeaways: [3:00] Customer risk and disclosures.  [5:20] A little bit about Kay Properties. [6:40] Andy gives a brief overview of what a 1031 exchange is and how a DST fits into that.  [9:45] Passco is a DST sponsor. What does it mean to be a DST sponsor and how does it work?  [11:05] What has Andy’s experience been with Kay Properties?  [13:00] A lot of Passco’s clients have done 1031 exchanges themselves and are faced with a huge tax bill.  [14:00] Andy likes to focus on new apartment complexes because it means the risk of repairs and unexpected problems is minimal.  [15:00] What sets Passco apart from other DST sponsor companies?  [18:00] The client needs to know what’s going on and Passco prioritize communication and transparency with their clients.  [20:25] How many potential deals/offers does Andy and his team look through before they make an offer?  [25:05] Interested in working with Kay Properties? Feel free to reach out!   Resources Website: https://www.kpi1031.com/ Call Kay Properties at: 855-899-4597 Meet the Kay Properties Team: kpi1031.com/meet-our-team   About Kay Properties and www.kpi1031.com    Kay Properties is a national Delaware Statutory Trust (DST) investment firm. The www.kpi1031.com platform provides access to the marketplace of DSTs from over 25 different sponsor companies, custom DSTs only available to Kay clients, independent advice on DST sponsor companies, full due diligence and vetting on each DST (typically 20-40 DSTs) and a DST secondary market.  Kay Properties team members collectively have over 115 years of real estate experience, are licensed in all 50 states, and have participated in over 15 Billion of DST 1031 investments.       This material does not constitute an offer to sell nor a solicitation of an offer to buy any security. Such offers can be made only by the confidential Private Placement Memorandum (the “Memorandum”). Please read the entire Memorandum paying special attention to the risk section prior investing.  IRC Section 1031, IRC Section 1033 and IRC Section 721 are complex tax codes therefore you should consult your tax or legal professional for details regarding your situation.  There are material risks associated with investing in real estate securities including illiquidity, vacancies, general market conditions and competition, lack of operating history, interest rate risks, general risks of owning/operating commercial and multifamily properties, financing risks, potential adverse tax consequences, general economic risks, development risks and long hold periods. There is a risk of loss of the entire investment principal. Past performance is not a guarantee of future results. Potential cash flow, potential returns and potential appreciation are not guaranteed.     Securities offered through WealthForge Securities, LLC. Member FINRA/SIPC. Kay Properties and Investments, LLC and WealthForge Securities, LLC are separate entities.

Welcome to Sponsor Stories with Kay Properties - An in depth look at over 25 Delaware Statutory Trust (DST) Sponsor Companies that investors have access to on the kpi1031.com marketplace. The kpi1031.com platform not only provides access to these 25+ different sponsor companies, but also custom DSTs only available to Kay clients, full due diligence and vetting on each DST property on the platform (typically 20-40 DSTs), and an active DST secondary market. Kay Properties team members collectively have over 115 years of real estate experience, are licensed in all 50 states, and have participated in over 15 Billion of DST 1031 investments.    Today, you will be hearing from our Senior Vice President, Betty Friant as she interviews Paul Van of Croatan Investments about the preferred geographical locations in his investment portfolio and what types of asset classes he likes to invest in.   Key Takeaways: [2:55] Risks and disclosures of investing in real estate, 1031 exchange properties and DST investments [5:25] A little bit about Kay Properties. [7:35] Paul explains what a 1031 exchange is and a DST.  [10:05] Croatan Investments is a DST sponsor firm. Paul explains how, and why, they became a sponsor. [14:25] Paul’s investment sweet spot is middle-income workforce housing or Class B to A- housing. [16:55] What does a typical property look like for Paul and his portfolio?  [18:45] Paul shares the states and cities he really likes investing in. He likes Washington, DC; Richmond, Virginia; and Raleigh, North Carolina; just to name a few. [22:15] Paul prefers to use third-party managers to manage their properties because it brings their focus back on finding high-quality investment properties. [24:20] Paul shares his experience with working with Kay Properties.  [27:00] Interested in working with Kay Properties or in gaining access to the www.kpi1031.com marketplace? Feel free to reach out!    Resources Website: https://www.kpi1031.com/ Call Kay Properties at: 855-899-4597 Connect with Betty Friant from Kay Properties: betty@kpi1031.com    About Kay Properties and www.kpi1031.com    Kay Properties is a national Delaware Statutory Trust (DST) investment firm. The www.kpi1031.com platform provides access to the marketplace of DSTs from over 25 different sponsor companies, custom DSTs only available to Kay clients, independent advice on DST sponsor companies, full due diligence and vetting on each DST (typically 20-40 DSTs) and a DST secondary market.  Kay Properties team members collectively have over 115 years of real estate experience, are licensed in all 50 states, and have participated in over 15 Billion of DST 1031 investments.       This material does not constitute an offer to sell nor a solicitation of an offer to buy any security. Such offers can be made only by the confidential Private Placement Memorandum (the “Memorandum”). Please read the entire Memorandum paying special attention to the risk section prior investing.  IRC Section 1031, IRC Section 1033 and IRC Section 721 are complex tax codes therefore you should consult your tax or legal professional for details regarding your situation.  There are material risks associated with investing in real estate securities including illiquidity, vacancies, general market conditions and competition, lack of operating history, interest rate risks, general risks of owning/operating commercial and multifamily properties, financing risks, potential adverse tax consequences, general economic risks, development risks and long hold periods. There is a risk of loss of the entire investment principal. Past performance is not a guarantee of future results. Potential cash flow, potential returns and potential appreciation are not guaranteed.     Securities offered through WealthForge Securities, LLC. Member FINRA/SIPC. Kay Properties and Investments, LLC and WealthForge Securities, LLC are separate entities.    

Signs are pointing to big opportunities, so position yourself to take action when investing in real estate. However, avoid mistakes that put you in the ‘big house’ wearing an orange jumpsuit. For example, do you know how to put together an operating agreement to buy an apartment complex? Today, Clint Coons of Anderson Business Advisors talks to Dugan Kelley, a securities attorney and co-founder of Kelley Clarke, PC. As chairman of the firm’s securities and real estate practice group, Dugan assists clients in all phases of multifamily, commercial, and residential acquisitions and sales. Also, Dugan serves as a mediator for other attorneys or settlement counsel for complex litigation matters that require unique solutions.  Highlights/Topics:  Should you partner with friends/family on real estate investments? Manage expectations. Anytime you take money from someone, they expect a return on that investment.  What’s the difference between raising capital as a security versus a capital contribution? There’s no friends or family exemption to securities. Contributing equal shares is a joint venture and involves an active role in buying/managing the entity/asset. What are the penalties for legal mistakes? Avoid being cheap by taking short-cuts on the legal side. There’s potential for severe/massive fines, penalties, and criminal charges. What is the purpose of a Private Placement Memorandum? Protect yourself as a sponsor or syndicator and your investors by identifying potential real estate risks. When and who should create a Letter of Intent (LOI)? After a property is under contract and through your entity, not your individual name. When should new operators/investors call a securities attorney? After conducting due diligence to determine the possibility to raise capital on property.  What information needs to be provided to the securities attorney to set up a syndication or transfer entity to start raising capital? LOI and Private Placement Memorandum. Is public registration necessary for private placement offerings? Two exemptions: 506b (pre-existing, substantive relationships) or 506c (restricted to accredited investors).   Should an individual manager create a separate entity to be responsible for the debts and obligations of the syndicated entity? Anybody can be sued for anything. Securities is not something that you want to mess with—cover your assets. How to vet deals and investors by identifying red flags? Know what you are buying, your rights and obligations, and who gets paid what and when.  Resources Dugan Kelley's Email Kelley Clarke, PLLC: Legal Services Purpose, Passion & Profit Treasured Vessels Foundation U.S. Securities and Exchange Commission (SEC) Rule 506 of Regulation D 506(b) 506(c) Grant Cardone LegalZoom Freddie Mac Fannie Mae HUD Clint Coons Anderson Advisors Anderson Advisors Tax and Asset Protection Event Anderson Advisors on YouTube

Welcome to Sponsor Stories with Kay Properties - An in depth look at over 25 Delaware Statutory Trust (DST) Sponsor Companies that investors have access to on the kpi1031.com marketplace. The kpi1031.com platform not only provides access to these 25+ different sponsor companies, but also custom DSTs only available to Kay clients, full due diligence and vetting on each DST property on the platform (typically 20-40 DSTs), and an active DST secondary market. Kay Properties team members collectively have over 115 years of real estate experience, are licensed in all 50 states, and have participated in over 15 Billion of DST 1031 investments. Today, you will be hearing from our representative, Betty Friant, as she interviews Louis Rogers of Capital Square about the increased growth happening in the medical real estate market.    Key Takeaways: [3:10] A quick overview about Kay Properties.  [5:20] What is a DST?  [5:40] What is a section 1031 exchange? [6:30] If you exchange properties throughout your lifetime, you have the opportunity to build wealth for your generation, your kids, and your grandkids. Your heirs can sell the property and the tax is forgiven.  [7:40] What is a DST Sponsor?  [9:05] Louis shares his story on how he got started at Capital Square. [10:15] How does Louis and his team help investors with their section 1031 exchanges? [12:30] The rental market is booming and it's a trend Louis is seeing throughout the south-east US.  [14:25] Louis really likes medical real estate because no one is getting any younger and people will be needing these services in the near future.  [16:45] How does Louis choose and finds qualified properties?  [17:35] Louis searches for stability. If they lost half of their residents, they would still pay their bills.  [19:15] Louis’s strategy is extremely conservative because he wants to preserve the wealth of his investors. Boring, stable properties are good properties.  [22:50] Louis says that Kay Properties has always provided outstanding service and expertise. 110 years of experience is nothing to bark at! There hasn’t been a 1031 issue Kay Properties hasn’t been able to address. *These testimonials may not be representative of the experience of other clients. Past performance does not guarantee or indicate the likelihood of future results. These clients were not compensated for their testimonials. Please speak with your attorney and CPA before considering an investment.   [25:15] Diversification is key and Kay Properties also focuses on this as part of a good portfolio investment strategy. *Diversification does not guarantee profits or protect against losses. [27:10] It really comes down to our people and that’s what we believe makes a place like Kay Properties and Capital Square so special.  [30:00] Kay Properties is here to help hold your hand throughout the whole 1031 exchange process and to help you get connected with the right experts like Louis and his company at Capital Square on the market place.    Resources Website: https://www.kpi1031.com/ Call Kay Properties at: 855-899-4597 Connect with Betty Friant from Kay Properties: betty@kpi1031.com    About Kay Properties and www.kpi1031.com     Kay Properties is a national Delaware Statutory Trust (DST) investment firm. The www.kpi1031.com platform provides access to the marketplace of DSTs from over 25 different sponsor companies, custom DSTs only available to Kay clients, independent advice on DST sponsor companies, full due diligence and vetting on each DST (typically 20-40 DSTs) and a DST secondary market.  Kay Properties team members collectively have over 115 years of real estate experience, are licensed in all 50 states, and have participated in over 15 Billion of DST 1031 investments.       This material does not constitute an offer to sell nor a solicitation of an offer to buy any security. Such offers can be made only by the confidential Private Placement Memorandum (the “Memorandum”). Please read the entire Memorandum paying special attention to the risk section prior investing.  IRC Section 1031, IRC Section 1033 and IRC Section 721 are complex tax codes therefore you should consult your tax or legal professional for details regarding your situation.  There are material risks associated with investing in real estate securities including illiquidity, vacancies, general market conditions and competition, lack of operating history, interest rate risks, general risks of owning/operating commercial and multifamily properties, financing risks, potential adverse tax consequences, general economic risks, development risks and long hold periods. There is a risk of loss of the entire investment principal. Past performance is not a guarantee of future results. Potential cash flow, potential returns and potential appreciation are not guaranteed.     Securities offered through WealthForge Securities, LLC. Member FINRA/SIPC. Kay Properties and Investments, LLC and WealthForge Securities, LLC are separate entities.  

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. There are 3 key legal documents for your fund. They are Subscription Agreement -- describes how the limited partners purchase interest in a fund, or rather, subscribe to it. It contains representations and warranties. Private Placement Memorandum -- provides a high-level overview of what an investor needs to know about your fund. This includes the investment thesis, the risks, and other key terms. Limited Partner Agreement -- contains information about the mechanics of your fund and how it operates including distributions, capital calls and management fees. Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. Let’s go startup something today.-----For more episodes from Investor Connect, please visit the site at: Check out our other podcasts here: For Investors check out: For Startups check out: For eGuides check out: For upcoming Events, check out For Feedback please contact info@tencapital.group

The Private Placement Memorandum is one of your primary due diligence tools - essential to you making a fully informed decision about your real estate investment. Join Pat as he shares 8 key points enabling you to make the most of the PPM.You can always email Pat at Pat@MaraPoling.com

In this podcast episode, you will learn: Private Placement Memorandum - a document drafted by a securities attorney that outlines the operating agreements. It is an extremely important part of the money-raising process that covers everything that the GP and investors are allowed to do. 506B - Allows sponsors to only raise money from their friends and family. People you have a substantial relationship with. This is your small circle of friends and family. You can't advertise the deal. 506C -Accredited Investors only ($1M net worth or $200-300K income) You can advertise this deal anywhere you want but you can't promise a return to your investors. Trowbridge and Sidoti - They are two of the top attorneys in our country. Learn from the best of the best, we highly recommend them and they will not get you in trouble. To connect with Gene Trowbridge and Jill Sidoti (323) 799-1342 (https://www.crowdfundinglawyers.net/) To attend Rod Khleif's event in Los Angeles, visit (https://RodInLosAngeles.com) Use the code AdamAdmas And please go to iTunes to leave us a rating and write a review. Each review helps us reach a larger audience with your episode. (https://podcasts.apple.com/us/podcast/creative-real-estate-podcast/id1285094279)

In this podcast, Mauricio Rauld, a Securities Exchange attorney teaches : That you're probably raising money wrong That you might be breaking Security Exchange laws How to register the syndication with the SEC, and what kind not to get The two main type of exemptions that 95% of people use and how to get them How simple omissions or failures-to-disclose can be illegal Who you can/cannot pay a referral fee What a Private Placement Memorandum is What an accredited investor is What a sophisticated investor is What "conditioning the market" is and so much more! Connect with Mauricio Rauld at: http://www.premierlawgroup.net/ Raising Money Summit use promo code "PODCAST" to save money on your ticket.

John Larson and the Real Estate Cowboys talk passive income real estate investing. Hear new episodes every Sunday morning at 8 a.m. The Cowboys talk about the Private Placement Memorandum, what it means to investors, and what to look for within. Keep the #CowboyCoffee hot while listening to John, and the Cowboys talk about how to #BeACowboy and earn passive income in real estate.

Douglas Ruark is the President and founder of Regulation D Resources. He founded it with four partners in 1999 with the purpose of providing Regulation D exempt offering advisory services to corporate clients. Regulation D Resources services Fortune 500-level clients along with smaller start-up and developmental stage companies. The company is especially focused on the real estate, energy, and technology sectors.

Raising capital for your next note investment can be hard, that’s why on this episode, we have Paige Panzarello to teach us how she finds funding for herself and her clients. Check Out the Cashflow Chick’s Online Training Podcast Audio: Brecht Palombo: In today’s episode of the Distressed Pro Professional Podcast Series, I speak with Paige Panzarello. Boy, that’s a lot of Ps I just had in that whole sentence, about raising money, about raising capital. Paige has raised a lot of money and she’s been through the whole cycle. Started back early in the late ’90s and so has been in real estate and in notes for over 20 years, Went through the global financial and housing crisis here in the US. She emerged with a very big healthy business, and in this episode today, she walks us through a lot of the considerations, including some tactics and strategy for raising money. Brecht Palombo: We go deep in on that, I hope this is going to be really helpful for you. I think you’re going to learn a lot and just pay attention to what we talk about in here, because if you are thinking about getting out there, doing the work to find the deals, and you’re going to be raising some money. Then this episode is for you. All right, so enjoy and here’s Paige. Brecht Palombo: Welcome everybody to another episode of the Distressed Pro Professional Podcast Series. Today I’m very happy to have Paige Panzarello here from CashflowChick.com. Paige is going to talk to us about raising money. Who reached out to me over there, somebody reached out to me a little while back, and its taken us a while to connect, but I’m really happy that we did. Paige I understand you raised a lot of money. Is that right? Paige Panzarello: I have, I have. Yeah, I’ve been really fortunate Brecht because I have over my career as a real estate investor, but specifically in the last, you know, since I got into the note space. I’ve been very blessed that I’ve been able to raise quite a bit of capital. Brecht Palombo: Yeah, cool. Tell me a little bit about your trajectory as a investor. What brought you here today, and if you could just walk us through. I know a lot of times, people here this and they think, “Oh, well she was able to do this, because she had this sort of benefit that nobody else that. You know, that’s why she’s special and I can’t do it. That’s going to be my excuse.” If you could just take is from what your beginnings, so that people understand how you’re here today. Paige Panzarello: Absolutely. Okay, I’m not special, I can tell you that. In that, I didn’t have any … I started my real estate investing career over 20 years ago. And kind of by virtue, by default. I was thrown into the deep end of the pool by knowing nothing about real estate investing. My grandmother past away and she had a very large estate. She had some commercial property, she had some townhome units. We had a sewer treatment plant, and then we had some land. Paige Panzarello: Of course I was quite young, and I went off to Arizona ’cause that’s where a portion of the estate was. The townhomes, the sewer treatment plant and the land. The estate was about four million in debt. I actually started my real estate investing career in the hole. If I can do it, anybody can do it, no excuses. Paige Panzarello: I literally knew nothing. I very quickly realized, that because I’m a very helpful person, I love to help people, that’s one of my passions. I realized very quickly that I was not a good property manager, because I have a really big heart and everybody has a story. I put property management in place, and then I really started surrounding myself with people that had the answers that I sought. I was able to kind of parlay all of that, within three years we turned the properties around. I got us out of the whole, we were back in the black in three years which was great. Paige Panzarello: Yep, we sold the sewer treatment plant, we leveraged. And then we started selling the townhome units. I realized that I really want to build on the land, and my family really wanted no part of that. I ended up buying the corporation, and I started my own construction company knowing nothing about construction. This is the late ’90s, early 2000’s, and we started expanding and growing. I brought in a qualifying party, we grew in three years to 36 employees. We were building everything, we held all of our licenses except HBAC and roofing. And we didn’t hold those because the insurance was too high. Paige Panzarello: But you know, we were rocking and rolling, we were really building. As you know Brecht, that was you know, the ramp up to 2005, 2006 and then 2007 happened. The crash, you know, I was looking at it and then I saw it coming. But I was very fortunate in that I thought to myself, well this isn’t going to happen to me because I’m only encumbered about 10%. I was wrong, it happened right on top of my head, and it took me down because the people that owned me money didn’t pay me. Paige Panzarello: I was very fortunate that I had a lot of assets, I had a lot of liquidity. I had big commercial and construction equipment that I was able to fire sale. But at the end of the day, you know, at the end of three years, I ended up walking away from Arizona, having paid everybody what I owed them, but I lost $20 million. That has a tendency to change you as an investor and shape you. Brecht Palombo: It does. Yeah, yeah, no, I’m forever changed. My perspective on investment and everything is forever changed from that same period. And I know a lot of the folks here feel the same way. Paige Panzarello: A lot of people, a lot of people. And because of that you know, I walked away from real estate for a little while. But when I came back in, I came back in in the direction of the note space. You know, I was doing some fixing and flipping, I was doing wholesaling, ’cause I had to rebuild, right? But all the while I was educating myself on notes and I was starting to invest in notes. Paige Panzarello: I love the fact that there is so much control. I invest in first position, non-performing primarily. And so, that gives me a lot of ways to mitigate risk and a lot of control over my own investments and over my own destiny and profit margins. I have never looked back, and I just I love it, and I love that I get to help borrowers, you know, my goal is to try and keep them in their home, to get them to re-perform. But I get to not only help borrowers, but I also get to help my investors. There are investors back from 20 years ago that are still investing with me today. Brecht Palombo: Wow, that’s great. Paige Panzarello: Yeah, I mean, because I did what I said I was going to do, so I’m very fortunate of that. And then word of mouth of course spreads. You know, and that’s part of- Brecht Palombo: It’s funny how, or not funny but, what you just said there, it seems more and more rare but it is like the most crucial thing in this business. Because you are kind of your representation aren’t you?Paige Panzarello: Yes.Brecht Palombo: I mean, and if you don’t have that, you really don’t have anything at all.PaigePanzarello: Anything, exactly.Brecht Palombo: It’s so critical.Paige Panzarello: It is, it is critical. And you know, sometimes it’s not always … You know, there’s not always lemonade, we have to sometimes take the lemons and make lemonade, right? It’s not always unicorns and rainbows, there are things that happen because life happens to people every single day. And as long as you’re honest and forthcoming about it. You know, that’s something that I really pride myself on, but I’m human too, you know? I fall down and skin my knees sometimes too, and as long as I can own up to it and be honest about it, and not try to pull the wool over somebody’s eyes. You know, that’s just so important in this business, and your reputation absolutely is everything. Brecht Palombo: Yeah, yeah. Maybe you could walk us through, talk a little bit about … We went through the crash, we had this terrible experience. Is it terrible? I guess if I was going to be really Zen about it, it wouldn’t be terrible, it would just be an experience that we learned from. And then from then to here, you’ve raised a lot of money. What did you do?Walk us through that a little bit. What I’d love for our folks to come away from this video, this call today, is that they have some idea about how they would begin and some confidence that the things that you do in order to raise money like that aren’t you know, magical things, they’re like actual you know, these are real like strategies that you can accomplish in order to do it. Paige Panzarello: Absolutely, absolutely. Okay, so first of all, you need to educate yourself. That’s the first thing. And you have to have integrity and responsibility because when you’re dealing with raising capital from other people to use them for investments, not only to benefit them but to benefit yourself as well, that’s a huge responsibility. You have to walk into it with a knowledge base. You don’t have to know everything, but you do have to have a fairly firm grasp of the direction of where the investment is going, right? You don’t want to fake it till you make it, because you know, you hear that a lot in real estate investing, “Fake it until you make it.” I don’t subscribe to that school of thought. This is other people’s money and you have to take it very seriously, there’s no faking it. Paige Panzarello: Educate yourself to the point that you’re feeling somewhat comfortable. Surround yourself with other people that are going to help you along the way, those are crucial elements.Brecht Palombo: When you talk about educating yourself. Let’s just put a little bit a finer point on that. Are there specific things that you feel like before you’re going to go out and start talking to people about their money that you really need to have down? Paige Panzarello: Yeah, I think you need to know the risk factors. You know, you need to know how you can mitigate risk for people. You need to know the general strategy of the investment. For notes, for instance, you know, because that’s our business. There’s a lot of front end loaded due diligence. And if you haven’t educated yourself to know what those due diligence steps are, you’re really putting other people’s money in harm’s way. Paige Panzarello: If you can at least educate yourself to the point that you understand what those main due diligence steps are that you need to take. And then have your loss mitigation team and other teams behind you, that they can take the ball and run with it after you buy the asset, then you’re going to be in good shape. Brecht Palombo: Yeah, okay. Take us forward from there then.Paige Panzarello: Yeah, so after your education and taking this very seriously. It really is just there’s no magic wand secret, right. There are two things that everybody wants in real estate investing. The two biggest things are deals, which Brecht you can help with, and then money, right? Money, when you’re seeking to raise capital, the most important thing is that you need to remember this is not about you, it really isn’t. It’s about the person that you’re talking with. What are their needs? And it’s your job to really ask questions to find out what they need. And honestly not everybody is going to be a fit for you, and that’s okay. Paige Panzarello: You’re not asking for money, you’re seeking to help somebody to better their life and better their retirement, and you benefit from it as well. If you go into it thinking along those lines, as opposed to, “Oh, I’m asking for money.” Because most people freeze when they think, “Oh, I’m asking for money.” You’re really not, you have an opportunity that you’re working that you can bring people along with you that’s going to benefit them as well, so that kind of takes the pressure off. Paige Panzarello: And if it’s not a good fit, if they’re looking to make chunks of cash, and you’re investing in performing assets you know, where you just have monthly cash flow. That’s not a good fit. The job is yours to find out what their need is, and then see if it’s a good fit. Paige Panzarello: It also requires you opening your mouth, literally. Most people when they get into the real estate investing sphere of any medium, buy and hold, fix and flip notes, any of it, they get very tight-lipped about what they’re doing. Because they don’t want to feel like they’re going to be judged or you know, listen to the naysayers. But if you don’t open your mouth and tell people what you’re doing, money is literally not going to fall out of the sky and into your lap, you need to tell people what you’re doing. Paige Panzarello: You know, again, surround yourself with people that are in your team and leverage their experience and their expertise. I actually have a funny story, Brecht, that I kind of would like to share. This is literally opening my mouth and opening my mouth, both figuratively and literally. Paige Panzarello: A couple of years ago I went to a real estate conference. And I’m a dentist daughter, by the way, my father was a dentist, and I had a little pain in my tooth, right. I knew what it was, and I got back home and I made an appointment with the endodontist, he’s the guy that does the root canals, right? I went to his office, and I sat in the chair and I explained I said. He said, “Well why have you waited so long.” I said, “Oh, I was at a real estate convention.” And he says, “Oh, you’re a realtor.” And I said, “No, I’m an investor.” And he says, “Oh, is there a difference?” So I explained that. Paige Panzarello: And he said, “Oh my gosh. I really had been thinking, you know, after I’m planning to retire in a couple of years from doing what I’m doing now, being an endodontist.” And he says, “I was thinking about going into real estate, and I was going to start studying for you know, to become a realtor.” And I said, “Well, what are your goals, what are you looking to accomplish?” And he told me, “Well, I’d like to take the money that I’ve earned and leveraged it to create some passive income.” And I said, “Well, your realtor license is going to allow you to sell houses for people, is that what you’re looking to do?” And he says, “No.” Paige Panzarello: I explained what I did and he said, “Oh my gosh, that’s really interesting.” I said, “Well, you know, would it make sense.” This is very key by the way, you need to kind of ask permission, “Would it make sense for us to have lunch or coffee and kind of discuss some options for you?” And he said that would be great, so we did. About two weeks later we had lunch, and it ended up that he had a million dollars to you know, invest. You know, in my circle of friends we kind of call it the million dollar root canal, right? Brecht Palombo: Yeah, got the right side of it, that’s for sure.Paige Panzarello: Exactly. I literally opened my mouth and opened my mouth.Brecht Palombo: Yeah. Tell me a little bit about how that begins. Did you start off with like a PPM in pooling funds, or did you start off doing JVs? If someone’s thinking about their … You know, maybe they’ve got some due diligence, maybe they went through your training and they understand that part, what’s the next thing for them to do? Paige Panzarello: Yeah, I think it really just depends on what their goals are. I don’t suggest going directly into a PPM because setting up PPMs can be quite costly.Brecht Palombo: Oh, maybe we should tell people what a PPM is. Sometimes I do that, you know, we just say things there and I don’t.Paige Panzarello: Sorry, yes, Private Placement Memorandum, it is for a fund. And there are different types of funds, so if you’re looking to invest with somebody who’s doing a fund. Then you know, figure out what kind of fund it is and all … I mean, there’s a huge stack of papers of disclosures that you get when you sign up to invest through a PPM, through a fund. But you know, those can be quite costly to set up, and I certainly, you know, if your goal is to be a hedge fund then certainly you know, go that route. Paige Panzarello: But when you’re first starting out in note investing, I strongly urge people that want to do this, that you know, they start with their own money and maybe a joint venture. And then they surround themselves with other people that are in the know. Right, because the practice is always when you’re actually doing it, the action behind it, that’s where you learn and that’s where you grow. Paige Panzarello: You know, do a few of those first, and then you know, with joint ventures, with people that are experienced. You might not get as much return initially, but the value of the experience you’re going to gain is exponentially more valuable than the actual ROI that you’re going to get back in terms of dollars, right? Paige Panzarello: And then you know, go into you know, perhaps continue that way for a long time or go into a PPM. Or decide you know what, “Hey I don’t want to do this myself, but I do love the medium.” Meaning, you know, I love the ways you could mitigate risk, I love helping people, I love making money doing it, but I don’t want to do the day to day stuff. Invest with other note investors, there are so many different options. Definitely you know, start out small and don’t try and bite off more than you can chew. Brecht Palombo: Can you talk a little bit about what a structure might look like for somebody who is just going to work with their dentist to you know, to buy a couple of notes. You know, without putting together a PPM and all that. What would just a JV, like a basic JV structure look like for you? Paige Panzarello: Yeah, our basic JV structure, you know, we’ve grown considerably. But our basic JV structure, when we started out, it really didn’t change from that point, is our funding partner. We call them our JV funding partner, so the person that came in, to partner with us, brought the funds. And we put in the sweat equity and they were able to leverage our team. You know, they did participate, because you really need to know your SEC regulations, you can’t just JV with anybody. They need to be a part of your sphere of influence, you need to have a relationship with them, otherwise, you’re selling security. You need to be really, really, careful with that. Paige Panzarello: But you know, as long as you get to know the person, and I like to call it marriage. You know, because when you talk about people and emotions and money, it’s very much like a marriage, so date first before you get married.Brecht Palombo: Good advice.Paige Panzarello: Yeah, our funding partners will bring the funds, we put in the sweat equity. They do participate on a weekly basis, sometimes a monthly basis. They do help us to make decisions. You know, we include them in decisions. But they bring the funds, we bring the sweat equity. When we exit a note, 100% of the funds, the original principal amount goes back to them, and then the profit is split between us 50/50. Paige Panzarello: If we get a note to re-perform, then 100% of the principal portion of the payment goes to the JV partner toward the original principal amount that gets reduced. And then the interest is split between us 50/50. It works out well for everybody. Brecht Palombo: Yeah, and so do you put together a special entity for that kind of a thing? Are they one-off LLCs? Is that what that looks like?Paige Panzarello: I actually operate through a Delaware Statutory Trust, which functions very much like a series LLC. I always encourage any investor that I’m speaking with to invest under an entity. There are certain protections that are afforded, there are certain deductions that are allowed. Because when you’re investing in notes, it’s largely the income that you get a straight income. Very rarely are we subject to capital gains, but sometimes we are. Again, I’m not a tax professional, so you know, take everything I’m saying with a grain of salt. Brecht Palombo: Yeah, we’re definitely not providing legal or tax advice today. That’s for sure.Paige Panzarello: Exactly, exactly. Nor am I a lawyer. Definitely, seek the advice of your professionals. But I always encourage people to have to invest through an LLC, it protects them in a number of ways. Paige Panzarello: Agreed.Brecht Palombo: If somebody’s listening to this, maybe they’re starting to get a little bit of a … You know a couple of ideas, somebody they can talk to, you know, some of the folks who they know. What are some of the other ways that you find the investors out there who you’re working with? Other than in the dentist chair. Paige Panzarello: Sure, exactly. Well, you know, honestly Brecht, there’s money all around there. There are so many people that are out there that have 401Ks, they have IRAs. Self-directed IRAs are huge. I mean, anybody that’s in a self-directed IRA, they’re looking to earn and generate higher returns. And they’re just looking for the vehicle to do that, so that’s a great way. PaigePanzarello: But you know, of course, you want to talk to realtors, you want to go to REO meetings and talk to those people. You want to go to everywhere. I mean, when I was doing fixing and flipping, because here in California, we’re not allowed to … We have to have reusable grocery bags, right? What were my bags? What did they say? It said, “We buy houses.” And I can’t tell you how many referrals I got from the checker. You know, they took my card because they saw my bag. Brecht Palombo: That’s fantastic.Paige Panzarello: Yeah, I mean, it’s literally everywhere. Accountants, attorneys, gosh, medical conventions, that’s another one, go and work the lobby. You’re not a doctor, that’s fine, but doctor’s are there at medical conventions. I have been known to go in and you know, have a drink at the bar, or have lunch in the lunch room. It’s a great place, get creative, but it’s everywhere. Brecht Palombo: Yeah, for sure. Well, I think we’re coming up on time here. Is there anything else we want to talk about before we sign off here, any last tips you want to leave for folks as they think about raising money and getting into notes? Paige Panzarello: You know, again, I like to challenge people, everybody’s got their why, you know. You hear about, “What’s your why?” That’s a very personal thing. I like to challenge people, what is your what? What I mean by that is, what do you need right now? And your what will change as you grow as an investor. But you know, if you need chunks of cash right now, you know, maybe choose a vehicle that’s not a long term play, meaning buy and hold properties, rentals is not your vehicle if you need chunks of cash. Paige Panzarello: The converse is true, you know, if you need monthly cash flow, don’t go into fixing and flipping. If you need a little of both, then maybe do look at notes, because you can create both chunks and streams of monthly cash flow in the same investment vehicle which is great. But you need to define who you are as an investor first, and then educate yourself and kind of stick with it. Paige Panzarello: As you know Brecht I do teach a workshop. It’s called Building Wealth With Notes. It’s a three day hands-on intensive. If you’re interested in learning how to invest in notes, that might be a great place for you to start. There are others out there that do the same. I just highly encourage you to educate yourself and then proceed with integrity, and really take that responsibility very, very seriously. Brecht Palombo: I agree with you. The idea of … I think another way to say what you said there is to begin with the end in mind. Which I think you know, a lot of folks, they might get hot on something, or you know, find something you know, looks sexy to them or whatever. But is it going to be a vehicle to get you where you’re going? And you don’t know unless you know where you’re going. Paige Panzarello: Exactly, exactly. If you don’t have a road map to get there, then you’re going to be in trouble, and especially with other people’s money. It’s just dangerous, don’t do it. Brecht Palombo: Yeah. Tell us how folks can reach and reach out to you if they want to learn more about how you do this?Paige Panzarello: Yeah, absolutely. You can reach out to me and schedule a call. If you go to cashflowchick.com. There’s a little tab there that you can book a call with me if you’re interested. If you’re interested in the workshop, you can go to buildingwealthwithnotes.com.I have one coming up here in Orange County in a couple of months. Yeah, but just reach out, or you can reach out, direct message me through Instagram @thecashflowchick. Any of those vehicles you can get in touch with me. Brecht Palombo: Okay, awesome. Thank you Paige, thanks so much for coming on.Paige Panzarello: Thank you.Brecht Palombo: I really appreciate it, those are great tips and hope that everybody really takes a lot away from this, so thank you for that.Paige Panzarello: Thank you so much for having me, Brecht I appreciate it.Brecht Palombo: My pleasure. https://www.distressedpro.com/panzarello/feed/ 1 noBrecht Palombo

Douglas Ruark is the President and founder of Regulation D Resources. He founded it with four partners in 1999 with the purpose of providing Regulation D exempt offering advisory services to corporate clients. Regulation D Resources services Fortune 500-level clients along with smaller start-up and developmental stage companies. The company is especially focused on the real estate, energy, and technology sectors.

Typically on a capital raise you want to have a pre-existing relationship with your potential investor. The number one question that you must answer for the investor is A) How are they going to get their money back; B) What is the timeline going to be. Also, make sure that your debt lines up with a similar maturity as your investment strategy. Originating a new short term loan on a long term investment strategy is probably not going to work. Make sure that you contact a qualified attorney that can help you build a Private Placement Memorandum that discloses all potential risks an investor needs to know.

This week we Tyler Sheff meets Joe Fairless who is essentially the John Lee Dumas #JLD #EOF of the real estate business.  Joe is the host of “Best Ever Real Estate Investing Advice Ever” a DAILY podcast for the the estate industry for the last two years.   Joe’s expertise is in multifamily syndication which essentially means he is an expert in building and managing teams of people to facilitate acquisition, stabilization, and repositioning of multifamily assets for his investors.   Joe is also the author of “The Best Real Estate Investing Advice Book Ever” which is available on Amazon.   Joe says that to be successful in syndication it is helpful to have a background in Real Estate Investing or at least a background in business.   Tyler asked Joe about tips on how to increase your credibility as an investor to which Joe recommends partnering with a management company or more experienced party on your first few deals to build confidence as an operator or syndicator.  By teaming with those more experienced than you others will be more willing to trust your ability to follow through on the deal.   Joe mentions later in the episode that four main documents are included in a typical syndication.   First, a PPM or Private Placement Memorandum is a 100 page (or so) document that informs investors on the risks associated with the particular investment.   Second, an operating agreement is used to document what each party's’ roles and responsibilities are, how the investment will be managed and other important details regarding management of the asset.   Third, an investor qualification document is necessary to comply with State and Federal laws regarding the pre qualification of investors in a syndication.   Lastly, a share agreement or subscription agreement specifically addresses the number of shares sold, and outlines other rules and agreements regarding the ownership and valuation of the shares in a partnership.   Interested in getting more of the Best Ever Real Estate Advice?  Listen to the Best Ever show by visit his website at: http://joefairless.com/show/

Take this brief 5 question buiness immigration survey: http://USImmigrationPodcast.com/Survey   Show Notes: http://USImmigrationPodcast.com/20 In this episode we talk to business attorney Natasha Bell about Special Immigration Concerns for Private Placement Memorandums   Natasha is a graduate of Emory University and Duke University School of Law, Natasha is a partner of 360 Venture Law (Shmalo Turner), LLP, a specialized corporate law firm working with emerging growth companies, along with start-up and fast-growing entrepreneurial companies and their investors.  Before joining 360 Venture Law, Natasha was the founding member of The Bell Firm, LLC and an attorney with Morris, Manning, and Martin.  Prior to her legal career, Natasha was on the staff of a local government official.   In this episode you will hear: What is a Private Placement Memorandum and what are they used for What does it mean to offer a private security (either through debt or equity) Why do you need at least one exception to offer a  debt or equity security privately What is a material disclosure? Why are disclosures of risk factors important Various 504 regulations relevant to Immigration: Regulation D: Domestic offer Regulation S: International offer Regulation C: Advertisement of offerings   Rebecca also shares with us: Best Business Advice: Just Start, you will figure out the rest as you go.  “Leap and the net will appear” Personal Success Habits:  Big read, great listener Tool:  WiFi.  Tech Savvy firm loves to be digitally connected Parting Thoughts: If you are in the exciting place in your business development where you need funds, congratulations.  She also offers her firm’s help. For a limited time, Natasha is offering a free, 30 minute initial consultation.  To take advantage of this offer, please contact her through the form below. http://USImmigrationPodcast.com/20    

Listen to our Podcast on Tenant in Common (TIC) Investing Benefits Potential Access to Institutional Quality Real Estate Investors who choose to invest into a TIC program as a 1031 exchange replacement property or as a direct investment are given the opportunity to invest in a caliber of real estate they typically may not be able to acquire on their own. For example: an individual investor with $500,000 may not be able to afford a 500 unit, class “A” apartment complex in a growth market. On the other hand, 25-30 accredited investors with $500,000 each have the ability to acquire such a property managed by an experienced national property management company. Passive Ownership Investment Many investors have owned property for a long time, realize the tax savings a 1031 exchange can provide, but are tired of the daily headaches of managing investment property. TIC investors are relieved of the day-to-day management hassles of sole ownership. They may have to approve major decisions such as a lease renewal, but in general TICs are a passive form of ownership that can free up time for other endeavors. The real estate sponsor will find the property, conduct its due diligence, arrange financing, manage the property, negotiate leases, distribute income, provide accounting reports and execute the final sale. Investor will also typically receive quarterly statements, monthly conference calls, and are always welcome to tour the property. Potential for Income and Growth Like any form of real estate, there is no guarantee of positive or steady income, but investors should choose a sponsor with an experienced management team with a track record of performance. The primary goal of most real estate investors is to generate income with the potential for growth. Experienced sponsor strive to do increase the investor’s annual yield and increase the market value of the property at same time. Financing With today’s difficult lending environment, borrowing money for real estate is harder than ever. Well capitalized TIC sponsors may have the relationships and experience to free an investor from the difficult lending process. The established TIC sponsors in the industry have the ability to secure pre-arranged financing and typically receive more competitive terms than what’s available to an individual investor. Diversification Depending on the equity amount an investor is looking to exchange or the cash an investor has to invest, TICs can provide an opportunity to diversify a real estate portfolio. Typically, at any point in time there are several TIC properties available around the country for an investor to consider. It may be possible to exchange into a medical center, an apartment complex and an office building in different geographic locations throughout the country. Risks As with any investment in real estate, there are risks associated with TIC ownership, including fluctuations in the real estate market that may impact the value of the property. The following risks may also be associated with investment: illiquidity, economic risks due to vacancy rates, default if unable to pay mortgage and possible loss of principal. TIC ownership requires unanimous approval to take major action, such as a re-finance or sale. Obtaining unanimity may be difficult when 10 or 20 investors are involved. It is not possible to address all relevant risk factors in this forum. Risk factors are outlined in the Private Placement Memorandum for each offering. Investors should thoroughly understand all risk factors and discuss them with their financial representative prior to investing in a 1031/TIC offering.