Raising capital & syndication
From partnerships to your first LP raise: securities rules, waterfalls, investor reporting, and reputation as the asset.
4 pieces, ordered by horizon
Y11Real estate syndication explained: how pooled deals work for LPs and sponsorsHow syndications are structured, what LPs actually receive, what sponsors actually earn, 506(b) vs 506(c), and how to underwrite the person before the property.Deep dive6mY11Syndications, funds, and other people's money: the complete capital-aggregation mapGP, LP, co-GP, closed-end funds, evergreen vehicles, debt funds, pref equity, mezzanine, SPVs, family offices, roll-ups — every structure for pooling capital at scale, and what each seat actually earns.Roadmap10mY12Preferred equity and mezzanine debt: the middle of the capital stack, explainedBetween the senior loan and the common equity sits the gap capital — 10–15% returns with priority and control triggers. How pref and mezz differ, when each fills the stack, and why sophisticated LPs increasingly live here.Deep dive7mY12Waterfalls in plain EnglishPreferred return, catch-up, promote — with the money actually moving.Glossary3mMore in Wealth
Large multifamilyApartment communities bought on cap rate and operated by teams — where scale starts working for you instead of on you.CommercialOffice, retail, industrial and triple-net: trading tenant turnover for lease term, and underwriting credit instead of carpets.Tax strategyDepreciation, cost segregation, 1031 chains and the step-up in basis — shelter while you hold, defer when you trade, step up when you transfer.Portfolio architectureEntities, debt structure at scale, insurance and asset protection — engineering the machine so no single failure reaches the whole.Legacy & transferEstate structure, heirs who understand the machine, and deciding what never gets sold. The point of the whole sequence.