This webinar is called 2024 will
blow your mind. It's a webinar

that's specifically called out
for real estate syndicators,

real estate developers
investment fund managers,

businesses looking to raise
capital. And it's all about how

to get ready for 2024. Hence the
title. Now the roll of it is it

doesn't matter where you come
in. So it doesn't matter whether

you're a syndicator, who's done
500 deals, it doesn't matter. If

you are a total newbie at this,
you're in the right place, we're

gonna help you. What this
webinar is about, is taking a

look at where we're at today.
And where 2024 can lead us, and

is going to lead us for certain,
but so that you have the best

2024 that you can, I hope you
find this webinar helpful. And

let's go ahead and get started.

A lot of people always do their
planning for the next year at

Brown this time. And so that's
why we put this webinar

together, I think you're gonna
find it very useful. It's got a

lot of tools. Now, at the end of
this, I'm, of course going to

give my contact information. But
please do feel free to reach out

to me, if we can help make you
successful, we'd love to do

that. But listen here to this
webinar about each of the steps

of each of the phases that we're
going to go through, there's

parts one, two, and three. And
then we're going to talk about

how they all fit together. So
without further ado, let's go

ahead and get started. This,
again, is the 2024 will blow

your mind webinar, you're in the
right place. So part one I call

the landscape of tomorrow. The
landscape of tomorrow is well,

we're at this one point here
today in December of 2023. Now,

how are we going to go from
where we're at today, let's

first talk about what that path
that's going to be there, that

takes us to 2024 that we can
expect to happen. Now, these are

all things that exists outside
of our control, really, to a

large extent, it's big macro
forces that are going on in the

world. But we need to understand
those to understand how we're

going to adapt to this changing
world. So first, of course, if

we're going to talk about
economics and syndication,

investment funds, all those
things, we got to talk about the

reality that we're in today.
Obviously, we're in very high

interest rate worlds. If you
look at a lot of the reports

about what's coming down the
pipe, we're gonna see, you know,

that rates will either stay the
same go up, come down, what

doesn't, it doesn't necessarily
matter so much how much they

change. What matters is that we
know that we're at this point

right now, where we've got the
Fed is set us at a rate, chances

are that they will be reducing,
at least that's what the Fed has

told us that it's planning on
reducing rates in 2024. And

they're not expecting
necessarily to get raised rates

again, or to maintain them
indefinitely for a very long,

protracted time. So that's good
news. But what does that mean

for us? What do we do about it?
Well, when it comes to our

investments, the reason that it
matters, is because if we're

doing a syndication or an
investment fund, we're buying

assets, right? So whether those
assets are real property, or

they're buying promissory notes,
or they're buying other

securities, or they're buying
businesses, right, those are all

assets, and so we're buying
those assets. Now, there's

different sources of funds to
purchase assets, right? We can

raise money from investors, just
what we do, or that you can also

raise money from the banks,
right, you can borrow money in

order to do it. So most of the
time, you will be doing a

mixture of the two, you'll be
borrowing money from a bank and

raising capital from investors.
So there are two reasons why

interest rates matter in this
context. So as interest rates

arise, right, so as the Fed
raises interest rates, the bond

prices and the yield prices that
are available options to your

investors, those prices change
as well. So the prices get very,

very high in bonds when the when
the interest rate goes up, and

when it comes down, they the
bond prices tend to go down.

Now, what what's important in
that context, not Not only is

that investors have that choice,
but a lot of the other

securities are paying to
different treasuries, treasury

bonds, right. So your money
market accounts, your CDs,

places where your investors can
park money in a very liquid way,

are going to pay a certain
interest rate, right? Now, you

could probably put money into a
good CD that's fairly liquid.

And, and expect to get about a
four, four and a half percent

return, it would not be
difficult to find such a thing.

So I had off the table, like
automatically as an amount that

investors would be able to say,
Wow, that's, you know, I know I

can get a return there. When
we've got. So if you were to put

together a great offering, it
looked amazing, you know, the

best presentation in the world
of founder investment theory

that was off the charts, in most
respects, but it was paying at

3%. D, you're not gonna get any
investors because they don't

need to, they can go to a very,
very safe investment, and have

it be, you know, almost
guaranteed as close to

guaranteed as it can be, and get
a return of four and four and a

half percent. So why would they
come to you, so it's sort of

like lowers the lowers the boats
for all. So it also changes our

borrowing costs, right, the
higher the interest rates, the

higher the borrowing costs. So
banks are making loans out at

certain rates, most of the time,
they're looking at different

measures. A lot of the times
it's the fixed market world that

the what the Treasury bills are
trading at, and then they come

up with certain rates, and in
between them is a spread. So

that spread fluctuates a little
bit, but it doesn't fluctuate a

huge amount, right. So we may
see a spread, excuse me in the

commercial market, of like,
3% 4%, right for, for the

servicing and for treatment of
it, which is on the high side.

But we may also. So if those
rates go up, say they will go up

to 10. Well, now we've got rates
that are suddenly now 13 14% of

our borrowing costs, right, or
our mortgage cost. If they go

down, that will also go down.
Now it's not going to go to

zero, or obviously, because that
would the bank still need to

make money in so they still need
to lend money as well. So we

need to, lastly, we need to look
at when we have those increased

interest rates, it changes the
cash flow dynamic of what your

investors are going to get. If
you have a variable rate loans

that are are going, those are
going to be changing all the

time. And so where the direction
of interest rates are, is going

to happen. So we're in this
world of high interest rates

today, or at least high that we
think they are. And those are

going to be changing. So it's
either going to it could stay

the same theoretically, chances
are it's not my predictions is

it probably will go down. And
basically I'm hearing maybe

dropping a point, something like
that over 2024. Maybe by June,

we'll drop the point. And then
we'll see where we're at, and

then reassess. But here's a an
interesting map, I just thought

was useful for us. So over we've
got this high rate period here,

that we're we're actually coming
down just a little bit. And this

is on the average mortgage of a
30 year fixed, I thought it was

a little bit more important for
us to look at that rather than

what the Fed rate is. So
actually, historically, we're

not that crazy on where we were.
So even we're even below the

rates of where we were at in
2000. All right, right before

the like before the recession in
2000. We're a little bit above

that. I had flattened out a
little bit, to some extent. And

then we had the recession in
2008. And then we saw them fall

even more as the Fed lowered
rates. And so now we're at this

huge peak. What's remarkable
about this peak in 2022, is that

it's so steep, right? We had a
very, very low interest rate

loan world. I remember getting a
loan on commercial real estate

below three, and it was great.
And for apartments, you could

get it much, much lower than
that. And then we had this

massive steep rise. And so
that's what's kind of

remarkable. So just keep that in
your mind as one of the places

where we're at today.

The other issue is a market
slowdown. So the market itself

for whatever your assets are may
very well be changing. Right? If

you're in the real estate
market. You Probably are seeing

this already, you're in the
business market or something

else, you may be seeing other
effects as well. So expect to

see lower transaction volume. So
it's not like you're going to

open up the your computer
browser, and suddenly there is a

billion things to go into
finding assets to invest into is

going to be a little different
than there's a million options

to choose from, oh, which can I
choose? Oh, which is good for

you, really, because the real
value that you bring to the

table is bringing together
investors bringing together the

right assets, and then managing
those assets in a way that makes

your investors more money. If
there's lower volume, and

there's lower amounts of deals
out there to invest into less

assets that are on the market,
your investors have the same

problem, right. So they don't
have the opportunity to just buy

it themselves. Because it
doesn't exist. So all if, if you

have investors who were just
saying use real estate as an

example, and let's use a an
apartment building, if your

investors could just buy an
apartment building, and then put

their money in that and get the
same return, they may consider

that. But if they're if that
apartment building is harder to

find, they're not going to be as
likely to whereas if you found

one, because that's the part of
the expertise you're bringing to

the table. If that if they find
if you find one, now your

investment is like, Okay, well,
now I can put money in there,

because they know they've got
the real estate to do it, or

whatever kind of asset type,
because this goes across asset

types, right? Securities is not
just about real estate. And it's

not just real estate,
syndication, it goes across, it

goes to venture capital funds,
and other all sorts of different

things. So there's also a prime
opportunity in the district and

distressed assets, as the market
slows down that may end high

interest rates exist, that may
cause people to need to sell

their assets or, or maybe even
do deeds in lieu of foreclosure

or something like that, those
assets may become distressed

fairly easily. And so when
there's distress, that means

opportunity for you. So now you
can buy those assets at a

discounted price, offered them
to your investors, and they'll

get a better return for it also
is a good opportunity to

diversify your investment
portfolio because there will be

different offers out there that
you may not have previously

considered. And so by
diversifying, you may decide if

you're an apartment guy, maybe
it's time to start looking at,

oh, well what would happen if I
took something that's somewhat

similar to an apartment
building, say a flat industrial

flex building, which is similar,
but it's different, right, so

they have different drivers,
they have different it's a

different market. But maybe
there's a relationship there. Or

if that's a little bit too much,
use something that's very

closely correlated, which is
self storage. So maybe you

combined self storage and
multifamily into one and now

you've got a much more
diversified portfolio. But it's

still in the same general asset
class. And all because you

couldn't find just that
apartment building to buy

another one. As part of this,
too, you really want to also

make sure you're spending time
to do better due diligence. So

due diligence is going to be
necessary because people are

going to be in a state where
they those assets may be

distressed, and they may need to
be gotten rid of at any cost.

And of course, people want to
maximize the amount of money

they make. And so there may be
there, there is opportunity

there for people to hide things
and not be as forthcoming as

they would, and you want to dig
and make sure of when it's

there. But also as part of your
due diligence is considering

what could happen if some of the
syndicators have gotten in

trouble, like a year ago, two
years ago are getting in trouble

now are ones who thought that
the low interest rate world

would last forever. So they got
highly as highly leveraged as

they could. They bought mediocre
assets. And now look what

happens. So suddenly, they're
upside down. And, and it's a

bad, bad world. So as part of
your due diligence, do your

financial analysis and stress
test? What would happen if,

right so those are all things
that need to take place? There's

also been massive technological
advances in 2023. And they are

gonna continue into 2024. And
this is a good opportunity. So

it's an an opportunity for you
to improve your own efficiency.

It's an opportunity for you to
look at ways for okay how you're

doing things Now that what are
the pros, those processes are

now? Is there a way that you can
do them better? Is there a

better way to, to talk to
investors to find investors to

get them into your investment?
Is there a better way to manage

your properties and do the asset
management piece? In order to

make distributions and
communicate more effectively?

Are there better ways to do
those sorts of things? And

technology is awful lot of times
the right answer for them. Also,

it's important to stay up to
date, right? You need to know

what's going on, you need to be
able to, to know those things

because you don't want to be
caught off guard. Let's say that

you are in a, that you are in a
data center world, right? So

you're in you, you do data
centers as your real estate. If

you don't know what's going on,
and the technology behind AI

right now. Oh, my gosh, you're
in big trouble, because that is

what your investors are going to
be talking to you about? What is

what's the impact of AI going to
have on data centers? As a side,

all right, the impact is, wow,
you're in the right market,

because they AI needs a lot of
data centers and a lot of

computing power. So you're in
the right place. But if you

didn't know that, if you weren't
staying up to date with what

those advances were, you
wouldn't be able to talk

reasonably to investors and
you'd start losing confidence.

So also just keep your eyes open
and your mind open to new

opportunities and new ways to
expand your market. Right? New

ideas that are out there, new
technologically advances, new

sociological advances, what are
those things? And how can they

better do things? Right now,
also, there is a huge amount of

geopolitical uncertainty, we
haven't seen wars exist on this

level for quite a while, we have
a war in Ukraine, we have the

wars, and oh, the war in Gaza,
those are having an effect. Now

on one hand, it's causing a lot
of fear and a lot of unrest. On

the other hand, it's also
creating a lot of opportunity,

it creates opportunity, because
your investors still need to put

their money somewhere. And who
were better to put it than

someone that they actually know
actually like and actually

trust. And that's you. Capital
always needs a place to go. So I

like the analogy of the capital
as water, right. So if you think

of a big rushing river, if you
were to dig out something and

because something becomes a
hole, what happens it gets

filled up, water spreads to
where it's needed the mouse to

the lowest point, right. So it
always is spreading. So as long

as you are making sure that the
water can efficiently go there,

water will always come so that
capital means it will always

come, you just have to open up
the open it up so that it can.

Sustainability is also very big.
So I've had a lot of discussions

in the past, in the past year
about sustainability projects,

green buildings, that different
sorts of very creative ESG

ideas, anything from tree farms,
to, to buying surface rights to

nonprofits, who are trying to do
very creative things with

investment to build eco friendly
things, a lot of really good

ideas. Now, what this means is
not that you have to have a, you

know, a green project, what it
means is that you should be

thinking about greening projects
and how it relates or, or even

broader than then green is ESG.
Right? So environment,

sustainability and governance.
So sustainability is also very

important in governance, it's
very important, you know, how

can you make the world a better
place and do your investment,

because as we'll talk about when
we talk about the founder

investment theory, that's part
of your story. That's part of

what investors want to know. And
if it's if you've got a good ESG

story that resonates with that,
it doesn't have to all be tree

huggers, right? It needs to be a
story that resonates with your

investors. If you've got that
right story, then they're going

to be good.

But so there has been this
massive movement towards ESG.

Now, yes, we've been hearing a
lot about greenwashing and

things like that, but the
fundamental doesn't change, that

people still care about
different things about how ESG

affects them personally. Right.
So how ESG some people will have

very strong feelings about how
environmentally it should be

taken place, about how
sustainability should be taken

place, even about how governance
should be taken place. There's

also been a massive shift. Oh my
goodness and more dynamics. Now,

this has not only been since
COVID. So COVID Before COVID,

there was this major move from
office out of the office,

telecommuting non telecommuting
companies prior to COVID would

send with with be like, Okay,
everybody worked from home.

Okay, wait, wait, that's not
work, everybody come back to the

office. And so there was this
dynamic ever since telecommuting

became more of a thing. And it's
been a general evolution that

was pushing more and more people
back home. I remember before

becoming a lawyer, I had a job
where I was working at home for

a short bit, and they wanted me
to come back in but they wanted

me to come back into an office
that was very, very far away.

That wasn't going to happen. I
you know, they wanted me to go

travel basically two hours, two
hours, community, time I lived

in the Bay Area, so it probably
was about five minutes away. And

with no traffic, because traffic
was terrible. But they wanted me

to travel very, very far for my
business. So there, but the

point is, is that there's been
this shift to people wanting to

be have different kinds of work
environments. When COVID

happened, of course, everybody
was winning. And now there

people are having a hard time
coming back. Companies are

having a real hard time bringing
them back. Most companies do

want to bring their people back
for good reason, because it

works better. When everybody's
in the office. I have a friend

of mine as a law practice. And
he has that has 60 lawyers in

his in his in his office. And
each one of those lawyers,

mostly works from home now. So
ever since COVID, used to be

everybody was in the office,
that was the expectation. Now he

says he goes in and he's lucky
if he sees one or two employees

have one or two lawyers in the
office. I mean, that's a major

shift. And he himself hardly
ever goes in him too. But

they're uncomfortable with that.
Because how can you do

mentorship? How can you do real
collaboration without everybody

being together in the same
place? You can't. So there's

this shift in that work dynamic
and how you're going to address

it needs to be thought about
especially if you're in in real

estate. So if you're in
multifamily if that's your

thing, which a lot of my clients
are, well, what can you do in

the multifamily space to make it
a little bit easier for people

to work from home? Maybe it's
something like you buy for the

building the internet and you
sell them the Internet back?

Right? I've seen people do that
successfully, primarily in the

office room. Not a lot of people
are doing it in the in the

multifamily world, where you pay
for very, very high level

internet service, you know, lots
and lots of bandwidth, and then

you sell it out. You know that
that's certainly something that

that you could do. In the office
environment, obviously, you've

got quite a big problem. But in
the retail environment, too. Are

you is are your centers
providing free Wi Fi? Or are

they providing those things? I
were before you know, maybe 10

years ago, I had no expectation
of getting Wi Fi anywhere. It

was neat when Starbucks offered
it maybe 15 years ago, it was

like wow, okay, that's pretty
cool. But there was certainly

not an expectation now I get
kind of bummed. It's like, well,

why isn't there a Wi Fi
connection? I can the internet's

too slow right now. I need I
need to get on a Wi Fi

connection. What's your
password? You know, if so if

you're in retail, that's a major
thing. Same thing with

industrial. So anything in the
in the, in the real estate

world, you need to be thinking
about, well, how can we better

provide services? How can we
better make it so that people do

what they do, which is work in
play, but you're mostly talking

about work? How can we make what
they do do in the most effective

way. There's also been a major
shift primarily since COVID, at

least as I've seen it towards
secondary and tertiary markets,

which is a lot of opportunity.
So we've got a major major

growth happening, especially in
Raleigh Durham, where I live in

Austin, those growth markets are
happening because it's a good

place to do work. It's got a
great standard of living, it's,

you know, a nice place to live.
And so businesses that have just

started growing going there, you
know, to be closer to their

workforce, just like we talked
about in the last section. And

as that growth has been
happening, you know, we've seen

that it's a that's created
incredible raises in the amount

in the value of real estate, but
we also see other trends as

well. So we also see You, okay,
there's demands on other

services, there's demands on
datacenter services, there's

demands on community computing
services, there's demands on

medical services, really all
those everything that supports

human existence, you know, which
is everything is, is, is growing

in the secondary and tertiary
markets. So that creates

additional opportunity by
finding those those

opportunities, capitalizing
them, securitizing them, making

it available to investors.
That's how we do our work. And

of course, inflation too. So not
only is the, you know, do we

have incredibly high interest
rates, but what about inflation?

So inflation generally has a
major impact on on the cost of

everything. development right
now is that as kind of in a

weird transitioning period,
because you've got so much

expensive, the cost of materials
is so incredibly high, the cost

of labor is so high, because
inflationary forces are there.

So you've got those things going
on, at the same time that you've

got rising real estate prices,
and but rents are maybe not

falling in line as much, or
maybe they are in your area. So

we've got these inflation is
having an effect. Now,

interestingly, inflation
primarily has an effect on the

energy sector, right. So that's
been the major, major, major,

major part of what has been
impacted. In this go round of

inflation. We've had a massive
spike in the cost of, of energy,

which automatically correlates
directly to the cost of food,

they're very closely correlated,
when and that's why we

experience costs go up, right?
So we feel like costs are going

up, they're going up, they're
going up, when in reality costs

everywhere else weren't really
going up that much, until people

started feeling that cost need
to go up and some prices go up

and, and we get actual inflation
that was started by just sort of

perceived Felton Leach. Now
granted, you know, cost of

energy and cost of
transportation, all those things

also drive all the all of our
values as well. And so they

there was an effect there, but
it wasn't nearly to the extent

as the spike in energy itself.
So the point of this part is, is

that the facts of where we are
today, plus the path of

tomorrow. So how we get from
here in December 2023, to where

we want to go in 2024. It's
going to equal where you'll end

up and December of 2024. So
that's, that's why we need to be

aware of what are the facts
today? Where am I at today?

Right? And then we can start
working on what to do for

tomorrow. So what should you do?
Well, we're gonna get to that.

But first, let's talk about part
two. So this hopefully will be

your lightbulb moment. Now my
goal here is to stretch what

you've been thinking about,
about how you think about

opportunity in syndication,
investment funds, whatever it

is, how can I want to stretch
that that idea? Because this

last year has really
strengthened my perception of it

as well. I seen ideas come
through that have been like,

wow, that's really, really
creative. That's, that's really

good. And the reason that's good
is because now it gives me a

broader sense of, okay, so now
my offer can look like this.

Maybe I should think about this
as well, or talking to people in

this way or things like that. So
hopefully, this will be a

lightbulb moment for you. So
here's what I've seen last up in

2023. Because I think that's
you. So what I've seen less of

in 2023. I've seen less office.
I'm not surprised. I haven't had

a single office deal. I had one
office deal. But it wasn't even.

It was barely an office deal.

So there hasn't been a single
other than that one. There

hasn't been a single transaction
that my firm has done. Certainly

not one that I would do. Why?
Well, we've got we've got a

vacancy rate over 50% in San
Francisco. We've gotten major

major vacancies in all the major
cities. It's not a good time.

We've got we were filing
bankruptcy. Well, that was kind

of the writing on the wall for a
while that that was going to

happen, but that's a big shift.
That's a big change. You know,

what is that change in the co
working space going to be like I

don't know. So I've seen less
office, I've seen less sales.

And this is specific here, I've
seen less less deals that have

been about stabilized
multifamily that rely only on

the increasing of rent. So when
you do a stabilized, when you do

a stabilized strategy on your
fit, the point of the

stabilization is, it's just that
your rents are going to go up at

one at some given market rate.
So say that's 3% 4%, something

like that, depending on where
you are, could be as high as

five 6%. So rents are gonna go
up on that portion, it's

possible that find it's, it's
good to find a stable

multifamily family building. And
that way, by stable, we mean

that the vacancy has stabilized,
right? So maybe your vacancy is

one 2% 2%, something like that,
it'd be awesome. And it's been

that way for a little while. So
you don't have a lot of

expectations have a huge amount
of churn, where you're gonna go

from 98% occupied to 50%,
occupied, you know, back and

forth, back and forth, that
that's not good. Stable is, is a

lot easier in that. So the spat
strategy is you're relying on

increasing the rent. Now, those
rents were increasing at, say,

4%. Well, maybe the previous
landlord hasn't raised rents for

quite a while. And so the
difference between where the

rents are at today with today's
leases, and what market is can

be really big. And so you can
drive those rents up, then

you've, you've just increased
the value, right? Because we

capitalize buildings based on
their rents, which means you've

got a massive growth, right?
It's not just an arithmetic

growth, but it's actually comp.
So but I haven't seen a lot of

those deals. It's just not, it's
not in the in the mark right

now, I don't know that I've I've
actually seen, I know, I've seen

a few. That's not true. So I've
seen a few Z, maybe five, which

normally my business would see
like 30. So quite quite a bit

less. I also haven't seen any
deals at all that have been

where the where the strategy was
a triple net or retail with,

with the sale on the new. So
typically, in retail, especially

in a triple net, you have a 15
year lease, a lot of times,

after the five years, the rent
bumps up. So there's increases

every five, the rent bumps up,
but there isn't a discount, and

because of the decrease on the
term, until way after year, 10

until after that fifth year. So
normally, you'll start to see

that on a year's like, You're
seven, but not a year five. And

so the strategy is, okay, you
buy it at year one, you wait for

that rent to go up, it goes up,
you sell the property, there's

an increase there. That was
actually my first transaction

was in the strategy, my first
indication that I did, and it

worked out great, you know, we
made a great return for

investors that everybody was
happy with. I haven't seen a lot

of deals either with hotels
without a story. So just a

hotel. So this is your normal
workforce, hotel, you know, the

where people instead of
commuting for hours, they'll

stay in a hotel the night so
that they can meet do a meeting

at the office, your tradesman is
coming out to fix something. But

it's a very long way away is the
specialist in the country. And

you know, just fixes that one
big machine that does makes

widgets or whatever it is. So
those hotels those normal, you

know, days in type hotels are
great. But they if they don't

have a story, I haven't really
seen a lot of transactions in

that. And then I haven't seen a
lot of developments by new by

people who are new to
syndication. So people who have

just started their syndication
world their rear end syndicating

by and are doing their first
syndication. I'm not seeing any

development that normally I'd
see a few but I haven't seen any

of that this year, probably
because the margins have not the

map because of the increase in
price. So what I've seen now,

here's what I've seen a lot of
this year and I'm expecting this

to be even more so in 20 2401.
Other I should add, I haven't

seen a lot of crypto that's your
either I've seen practically

none. Normally if a if there is
a crypto it's actually a

business that has some crypto
component to it, but there's

been no off offers for, for
crypto really coming down the

pipe, even even the businesses
are doing a lot this year. So

what I have seen a lot of and
I'm expecting even more is

experienced builders, we're
looking at better access to

capital. So there's high
interest rates right now they

could go to a bank, much better
for them to offer preferred

equity, and then to be able to
pay a rate as those rates get

changed, right. So they are able
to pay this one particular rate,

as the bank rates become up, it
starts becoming feasible to do

it that way, it starts becoming
quite actually beneficial,

because not only do you get the
benefit of having the investors,

you know, who are lending you
the money, we have, oftentimes

an easier underwriting
threshold, right, you have to do

the underwriting of many of the
people who are buying the

preferred equity aren't actually
doing a substantial amount of

the equity, that's really your
job to take care of them, right

to make sure that they're taken
care of, at your job as a

manager. But so it's a lot
easier to get preferred equity

to get to do a syndication or do
a fun. And developers are now

becoming a lot more into using
this as a tool. The other

benefit, just as an aside is
that preferred equity goes on

the shareholders equity side of
a balance statement. So banks

don't count it against you. So
if they do go for loans, they're

not looking at it as Oh, we've
got this huge amount of debt,

because they're going to take
priority anyway. And they're

going to take so much priority
that there's other legal things

that that make preferred equity
different than true debt, we

oftentimes call it that or a
debt fun, really, it's not, it's

not debt in a true true sense.
Like, it's, it's not on the

liability side of a balance
sheet. Other things, I've seen a

lot of lenders looking to
additional capital, like hard

money lenders, that you know,
basically who've maxed out the

amount of money that they have
on their own bit to lend. And so

they want to increase the amount
of money so they can still make

more loans so they can make more
money. I've seen a lot of single

family home developers who
develop in that smaller space.

So this isn't the DH Hutton's of
the world, you know, doing 2000

homes at a time these are the
developers doing five to 100

homes, you know, in a single
block. These are people who are

do are typically their builders,
and very experienced builders,

who also a lot of times had a
lot of access to capital to just

build from their relationships
with banks or with one investor,

and now suddenly want to want to
move on and use us raise money,

raise private money in order to
do that. The other thing I've

seen a lot of is short term
market arbitrage opportunities.

So this is your very short term
holds. Three months, six months

sometimes last, a lot of times
we see this in the land world

buy at an extremely low price.
And then quickly resell put

together a marketing plan or
something like that. And resell

is, is quite common right now.
It's very hot. This any kind of

market arbitrage buying anything
low, buy low, sell high. It's

the is the is really all it is.
So let's talk about those some

of my favorite opportunities
from 2023. Because this I'm

hoping these three examples, I'm
hoping will start pushing

expanding your ideas about what
is possible out there. By far my

ultimate favorite deal that came
to my attention in 2023 was

masters have done video about
it. I've done a

A, we did an email blast about
it. I'm not affiliated with them

at all, I've never talked with
them. I just think they're

they've got something really
brilliant here. Their founder

investment theory is so smart.
Their pitch is very smart. So

the pitch is invest like a
billion. Because you may not

know this, but billionaires
actually invest quite heavily in

the art in the private art
market. So in the amount of

equity, the amount of assets
they may own is, is many, many,

many millions, right? 10s of
hundreds of millions may be

owned in and fine art. So invest
like one of them. It turns out

that the art the fine art world
is very, very stable. So it

generates a lot of cash. It
appreciates very well and And it

outperforms typically
outperforms the market. But more

than that, the true beauty about
masterworks is the fit. I mean,

what an easy What a great story.
I mean, I really liked Fine Art

quite a bit. And that's actually
how my wife and I met was

becoming first museum buddies
before, before we got married,

where we'd go to museums, and so
art is very important to me.

Like, but who wouldn't want to
own a Banksy? I mean, you can

own a part of a Banksy, which,
if you don't know is a is a

current urban artist, who's just
very, very witty and, you know,

quite quite brilliant. Or, I
mean, any of these number of

artists, there's all sorts of
different artists that they

acquire. So their plan is they
buy the art, they buy a very

specific curated art that they
know will work and then they

securitize it and sell it out.
And ultimately, after a few

years, then they resell it, and
then and then take the profits.

It's a brilliant idea. And what
a absolutely tremendous example

of founder investment theory. So
masterworks, best idea. Number

two is actually is a client of
mine. So this client is in New

Mexico. So in Albuquerque, New
Mexico, it's a boutique hotel,

where he is expanded the idea
of, he's taken a very famous

book, and basically is building
the hotel around that idea.

Which is brilliant. Really, I
mean, it's such a great idea. So

he took, he's basically taking
something that wouldn't be like

a daisy an idea, right in, in a
regular city, you know, a nice

hotel, but nothing that's it's
not, you know, the Ritz Carlton.

So that's not their, there's
their deal. It's just a nice

hotel. You know, and a lot of
the people are people who are

just coming to Albuquerque, and,
you know, staying and those are

the guests. But now they've got
a choice, they can go to a theme

hotel, that's all centered
around the boat. I mean, pretty

brilliant idea. Because it's got
a really interesting story. I

mean, wouldn't you if you were
going to Albuquerque? Wouldn't

you want to just stay there? And
no, I do. So I that's where I

would go, it'd be because of all
these choices, I could stay at

that, you know, this, this 10
different hotels, or this one,

which is pretty interesting and
unique. So I think it's a really

great idea. So that was an idea.
Really, the lesson to take away

from that is really expanding on
story. Now his story was quite

literal, but is expanding the
idea of story, it within your

fit. And the third idea is MCA
lending. And not only MCA

lending, but other securitizing
other things that need money.

And so MCA lending is merchant
customer accounts, or merchant

card accounts, I forgot what the
C stands for. But basically,

when you use your credit card,
that is that is what's going on.

So what the lending is, is that
so if a merchant needs cash, and

they need to get access to ready
capital, they can borrow money.

And rather than pay the lender
direct, like pay them every

month, they actually pay out of
their merchant account, every

transaction. So a small
percentage of that goes to pay

back the lender. These are very
common, it's a very big

industry. And the idea here is,
again, you've got a really good,

you get really good returns from
this first off, but you also

have a really good story, you
know, this pitch to your

investors really is what we're
building is we're building a,

we're offering a security that
allows you to invest in middle

America, or in onmy in
mainstream. So it's allowing you

to invest on on mainstream,
think about your favorite coffee

shop, or think about your
favorite vendor or your or your

daycare, or your karate studio,
whatever that is. There are

times when those people on Main
Street need to get access to

ready cash. Now, maybe that
ready cash is to grow their

business, right? So maybe
they're looking to they need to

do this massive marketing
campaign and it's going to cost

a lot of money. Or maybe they
just fallen on hard times and

need a little bit of extra cash
in order to keep the doors open.

Whatever that is what we're
offering as a security as a way

to help them out with back. And
rather than having to pay us

back every month, they just get
a small amount deducted from

their credit card that they're
using every day. So it's

actually the, as they get more
and more customers, they get to

pay back faster and faster and
faster. So that way that gets

that dad pays us back. Everybody
wins. That's the story. And what

a great pitch. I mean, it's
really it's, it's compelling.

It's like, okay, I want to be a
part of that I want to help out

my favorite coffee shop and help
out the kids karate studios. So

yeah, count me. It's a great
story. So I love the idea of not

only because it's got a great
story, but because it expands

your mind about where those what
those opportunities look like,

right? It's suddenly now I
don't, it's not just I'm build

buying this building, you know,
that I'm that I'm syndicating

I'm not buying this building,
and we're gonna take rents and,

and it's gonna be really great.
It's now suddenly like, okay,

where does that happen? We'll
need to go where like juice the

water analogy? Where does that
water need to flow? It needs to

flow to these businesses who
need it, right? People who need

capital that water needs to flow
to them. So how can we do that?

How can we make that happen? And
that's what this idea does, is

it sends the capital where it
needs to go. So I think it's a

great idea. And I think it
really kind of changes the way

that we look at what we do as
syndicators and as investment

fund managers. And again,
ultimately, founder investment

theory, that's the starting
point. Right, that's where it

all begins. Which leads us
directly to part three, your

measuring stick. So a lot of
people will go through the first

part of what we're going to talk
about here, because we're

talking about goals, right?
Because we're here today in

December 2023. And we're going
to December 2024. Without a

goal, you never ended up getting
it right. So let's think about

what those goals are. Where do
you want to be in December 2024?

So what is what let's let's look
at it a little bit differently.

What's that simple goal? Like, I
want to survive until December

2024? Pretty darn likely you're
going to I hope. All right, I

hope you're healthy, and that
you can get there. I really do.

So that's a really simple goal.
But what is it? What's your

really simple goal as it relates
to your business? Now, let's say

you're, you own a bunch of
single family homes. And so you,

you've got 10 today, and a
reasonably simple goal, we'd add

one more, right to go by 11. So
wow, 10% Raise. You did it. So

you could do it, right? It's
not? It's not crazy, relatively

simple, you can make it happen.
So but what if you were to take

that idea and stretch it?
Alright, so you've got 10 today,

what would be you know, a pretty
good stretch, but probably

doable, maybe by six, seven?
Wow, maybe it's, let's use up

set by seven. So you're going
from 10 to 17? That's a huge

change, right? That's a big
begging, excuse me, a big big

increase. But that's, that's a
good goal. You know, that's

certainly something doable.
Okay, we're gonna buy seven

buildings. But what if you were
to make a totally audacious?

What have you just make a goal
that was just kind of totally

out there? And just crazy. What
does that look like? Maybe it's

going from 10 to 50. Right?
Whoa, that's crazy. How on earth

am I gonna go to 50?

Well, that's the idea about
these goals. Because goals you

can set to be whatever you want
to be, you can set it to one,

you can set it to seven, you can
set it to 50. But if you set it,

you're the likelihood of getting
above it. Isn't that great?

Right? If I have a goal to get
to seven, it's not likely I'm

gonna get to eight. If I get to
if I set it at one, I might get

two but it probably not. I'll
probably just get that one.

Whereas if I set it to 50 Wow,
well, even if I only halfway get

there, I get to 25 just really a
huge change from 10 to now 25 is

a lot. So how does that work? I
actually so actually be 30

Right? So halfway, so to 30
That's a massive increase. You

know, that's, you've now just
three extant so So what is that?

What if you make that goal
audacious? Because maybe you'll

get there. But you're not going
to just just get there without

anything, right? So you're not
going to just get there unless

you plan for it.

And to do that, we start with
where you're at today. Right?

Where do you live? What do you
want to access to money? What

are the who are the people, you
know, who's on your team right

now? And who are those people
who couldn't be on your team

very easily, like you pick up
the phone in there? And what an

all the most important piece of
this is, what are the stories

telling yourself? What are those
stories look like? Because if

you're telling yourself that,
well, I'm only capable of

getting one while you're
probably right. If you tell you

start telling yourself and you
believe in the story that you

can get to 50. Or you can buy 50
new homes, maybe you're right,

too. So maybe you what you need
to be doing is look at in this

phase, just think about it.
Think about what you're those

stories that you're telling
yourself. Because if you tell

yourself, you're gonna win, you
got a lot better chance. I've

been learning a lot about this
from golf. So I love golf. Golf

is my game. And my kids are
becoming very, very good golfers

right now. So they're young, but
they're still actively they've

been playing tournaments. So I
have two sons. They're ages

eight and six. And I noticed the
difference between the two,

right, my oldest son, my eight
year old, he beats himself up

all the time. I mean, he just,
he's really hard on himself,

because he's a perfectionist he
needs to doesn't matter if he

hits a beautiful drive. And
somebody else Well, they've came

just as far or went further than
him. Doesn't matter to him. He

is He needs to beat the belt.
Minda bats does needs to be

perfect Dan, not to me. I just
want him to enjoy it. But I

mean, sometimes man, he can hit
like nobody's business. So, but

he's really hard on himself,
which really hurts him because

we'll be in the middle of a
game. And if you're a golfer,

you know exactly what I'm
talking about. Because I do this

too. I mean, if I hit one bad
shot, Boy, I've next four, five

holes are going to be terrible.
Just because I beat myself up

and see I did it right there.
That's the story. I'm telling

myself. Isn't that funny? So I'm
using that as an example in

here. And it just happened, like
live. So the story I'm telling

myself is that the next four or
five holes is going to be awful.

Well guess what? The next four
or five foils are gonna be

awful, because I just told
myself the next four or five

holes is gonna be awful. So. But
what if instead, I said, Wow,

that shot didn't go so good. But
you know what, I always do

great. Right after the next
right after a bad shot, the next

shot is always perfect. Then
you'd really, really see, see

some magic happen. Right? If
that was the story, you believe

that's probably what's going to
happen. Because so much of how

we run in the in today's world.
It's all about this the things

we're telling ourselves. So what
are the things that you're

telling yourself today? Right?
What is that dialogue look like?

Today? Stop and just listen to
hear in your thoughts for only

for a minute, just listen for
for a few seconds and think, you

know, is that is that? Are those
thoughts helpful? Are they not?

You know, or just what are they?
Just what are they? So, that's

for today. But in order to reach
that goal, whichever you choose,

you don't have to choose the 50.
You know, you can choose the

seven you can choose the one you
can choose to sell them all and

you know, go be a hermit, you
know, whatever. But whatever

that goal is, you know, what do
you need to do? And who do you

need to become in order to reach
that goal? What are your

resources need to look like?
What is your network need to

look like? You know, basically
what knowledge do you need?

What, what what has to happen in
order to reach that? And more

importantly, who do you need to
be? And when you have an

identity, identify with that
future self, you know who that

person that you would need to be
to accomplish that goal is what

is how do they talk to
themselves? Because I can

guarantee you they're different
than then what's going on in

your head right now unless your
goal is basically to just be

exist exist. So the person that
you want to be is they've got a

very different things going on
in their head than you do. But

let's break it up. So going from
today, December 2023, to

December 2024 is huge. Right? I
mean, that's, that's, it's so

big, it's overwhelming. But
that's not what you need to do

focus on a quarter by quarter,
or break it down even more if

that's helpful. Right? Break it
down to week. There's a, there's

a good was a good book called
The 52. Week year. Yeah, 52 week

year, or, which basically breaks
everything down into one week

intervals. And every quarter is
like, like a big, big thing,

right? So trying to accomplish a
lot of things. But by small

changes, you don't make the
change, you don't go from zero

to 60, you know, instantly,
right? A car doesn't do that.

Right? It accelerate. So you
need to accelerate too. So what

needs to happen in this court,
right? For me, quarters just

makes more sense. Step one, this
is how you do it, by the way. So

this is how you get to from
where you're at, to where you

want to go. In your syndication
business in your investment fund

business. Step one, founder
investment theory. This is the

this is the way to do it. This
is the the most important step

that you could have found our
investment theories broken up

into four different parts, it
does not all be a lot of my

stuff has been on real estate,
but it does not have to be real

estate, it doesn't matter what
it is. Right. Just like the MCA

lending, wasn't at all I had
nothing to do with real estate,

this is your founder investment
theory is whatever you're in. So

the first step is your strategy.
So what is that general thing,

and MCA lending is fine. You
know, maybe it's value add,

maybe it's buying those
stabilized assets and reselling

them. Maybe it's buying
businesses that meet a certain

certain, you know, maybe it's
buying businesses, what is, you

know, what is that strategy? And
how can we refine that a little

bit better? So MCA funding is
probably tight enough, but

certainly buying businesses
isn't. Right. So maybe it's

buying businesses that change
the world, or buying businesses

in the technology sector, or
buying businesses that entertain

people, or whatever it is,
right. That's that general

strategy. So what is and then it
comes down a little now we look

closer in at that strategy and
start determining tactics, which

I call philosophy and the
criteria. So an opportunity gets

presented to you what criteria
are you going to judge that

against to see if it's a right
fit for you? Right? Is it

something that you want to do?
You know, some people don't want

to do don't want to ever do
anything but multifamily, that's

fine. But it better. So when you
get that opportunity in put in

front of you, then, you know, if
it's not multifamily, it's just

not meeting the criteria. It's
not what moves you. So, you

know, you kick it out. And that
keeps you on track, too. So if I

say to you, hey, look, I know
you only do multifamily, but

this self storage thing is
fantastic. It's almost like

multifamily. It's really close.
You get to stay in your lane,

you get to stay in your
wheelhouse, right, you get to

stay true to your founder
investment theory, if that's

what you've told your investors
anyway, you said I do

multifamily. All I want to do is
multifamily. It's all I for

that's great. Me I'm actually
quite the opposite. So when the

deals that I do, I don't I
actually don't have this, like

an asset class. It's part of my
criteria. I do deals that are

great, right? I do great deals
that move me. So my philosophy

and criteria is actually pretty
simple. which feeds into the

fourth step. It's got to have a
great story. I mean, that for

me, that's what it is. It's got
to be something that I can be

like, Yeah, that's great. So I
can commit 100% to it. If it's

something what I would call
boring, I don't have any

interest in it. It's just not
going to be something that I

want to put together and might
have great returns, but it just

doesn't do it for me. So if it
doesn't do it for me, it's not

part of my founder investment
theory. It's it's not even a

consideration. So those kinds of
deals, I'm done with i I've done

a couple never gonna do them
again. It's so hard to get work

done on them, because it's just
not fun. Right? But there have

been other projects that have
been you know, are just exciting

and like fun. I No fat. And
those are I can get by and I

can, I don't have any problems
staying up, you know, being

awake for 23 hours and working
my working seven days a week on,

because it's exciting. So that's
my part of my philosophy right

here, but choose that philosophy
and criteria for yourself.

Because you're gonna be spending
a lot of time here and it needs

to be congruent with who you
are.

The third part is risk profile.
So for every deal, there's a

certain level of risk, right?
High risk, high return, Low

risk, low return. It's just,
it's part of our DNA to do that.

And the best example I have for
this is, what if you had a deal?

That an opportunity that you
absolutely knew that was going

to triple the people's money in
one month, you just knew it?

Absolutely true. And you took
that deal, and you went to

somebody who was so risk averse,
they were just terrified of

anything risk, right? Their
mattress is underneath their

pillow, or underneath their
mattress, it's there, they just

are so risk averse, actually,
they don't even have cash, they

have gold, right? And not just
gold, they actually have

precious metals, other all sorts
of precious metals, because they

don't want anything to go wrong
whatsoever. Well, taking them

that deal, it's going to triple
their money, they're not going

to buy it, even though it's
tripling their money in a month.

And all they have to do is just
let you use that money there.

They're not going to do it. Why?
Because it doesn't match the

risk profile. Because they are
not going to invest in something

they'll think there's a scam
going on. Take the opposite

story of it. You got somebody
who is a fast player who's just

like, wow, this, you know, I
make big moves, I want to I want

to triple my money every month.
And then you find this deal that

man, it's it's a it's a 10 year
deal. It's low cost, and it's

gonna it's gonna make you fall
out 4%. But man that 4% is

absolutely 100% Totally
impossible to fail. Right? I

mean, it's got insurance on,
like, nothing could possibly go

wrong. You try and bring that
deal to the guy who wants the

triple in the month, not gonna
touch it with a 10 foot pole.

Right? You want the he doesn't
even want to talk to you

anymore. Because it doesn't
match the risk profile. So find

that risk profile for yourself.
And there's of course, a billion

people in between. So find find
that risk profile for yourself,

where are you most comfortable
getting at? And then take it and

put it into a story. So take
that story element so that it's

compelling. masterworks has a
great story. This boutique hotel

has a great story. MCA lending
has a great story. What is that

story? Because here's the key.
And it's so important, I cannot

stress this enough. investors do
not invest based on IRR Rs.

investors do not invest on IRR,
or preferred returns. They

don't. It's not part of what
they do. It's not how people

function. We've seen that from
behavioral finance, it just

doesn't happen. People are not
rational and making investment

decisions. They don't make them
that way. They invade best for

one thing. And one thing that
they may invest based on their

emotions, they make an emotional
decision. And then they use

facts, they use IRR is and they
use a multiples and they use

whatever it is to justify their
decisions. That's how people

make decisions. So you gotta
have something that connects to

that emotions. And the only
thing that connects to emotions

is how much they trust you. And
what that story is, the better

your story is the matter they
trust you. And the more they

trust you, the more they'll
listen to your story. So story

is absolutely fundamental. And
it doesn't have to be this, you

know, the story has to look like
this. It's not, it needs to be

something that you can craft
into something that moves

people, that's all it is. It's
not creating a fiction, you

don't want to do that. Because
then you immediately lost all

the tracks, but you create it as
an absolute true, you know, an

absolute emotional mover. It's
gonna be unstoppable. So, that's

founder investment theory. Step
two, find investors. This is the

Like, one of the two most
important jobs that you have for

the rest of your life, as a
syndicator, and a fund manager,

finding investors, you're always
thinking about finding

investors, you're always
thinking about it, it's, it's

part of what you do. So step
two, find them some investors.

And we can help you with
strategies in order to do that.

Investors come from online or
offline, it can be under, you

could do a 506 b offering where
you have friends and family can

have non accredited investors,
you know, everybody's within

your network. Problem is you
can't advertise. Or you could do

a 506 C offering. And you can do
it only to accredited investors.

But you can suddenly advertise.
So now the whole world opens up

as possible investors, but that
trust value is now low. So you

got this, this trade off, right?
So you've got either 506 B,

where you can rely on your
trust, five to succeed where you

just don't have the trust yet.
So it makes it a little bit more

challenge. So both of them are
not simply easy. You know, the

actual process itself is pretty
easy. But it's not like

automatically, people are just
throwing money at you, it

doesn't work exactly that way.
Step three, find assets. You

can't syndicate without asset. I
mean, that funds, its promissory

note, basically is underneath
it, and doesn't necessarily have

to be a promissory note. But
there's some sort of liability

there, that's making it so that
you, and I don't mean liability

in the balance sheet sense. I
mean, there's some sort of money

that's owed, no matter what, you
got to have an asset. All right.

So they assets or you need to
find those assets, or there's

nothing to unmask. So, the four
steps are very simple. establish

criteria, what exactly you're
looking for that matches your

fit, use a checklist, once
you've done that, talk to

everyone, you know, utilize your
existing network, you know, this

is what I'm looking for, make
sure everybody knows. And then

once you've talked to everyone,
you know, expand it. So and then

you start talking to, if it's
real estate, start talking to

other brokers in there. And once
we're doing a lot of business,

expand that network. And then
finally, review, review the

Public Information Exchanges,
you know, if it's a commercial

real estate, you're looking on
LoopNet, if it's residential

real estate, maybe you're
looking at the MLS, if it's

businesses, there's a bunch of
business looking site, you know,

expand it out. Step four, and
this is probably the one that

people fail to do the most, and
yet just cannot get to your

goal. If you don't do this step,
you have to commit that. If you

don't commit to the goal, if you
don't commit to doing it, you're

never gonna get there. You
absolutely that is one. You

know, as an attorney, I never
make guarantees, this is one

pure guarantee, you don't commit
to it. You absolutely are not

going to get there. So you have
to decide, yeah, I'm going for,

it's risky, of course it is.
Everything in life is risky, but

you gotta commit to it, or it's
never gonna happen. So commit is

step four. It's, it's the step
that makes it all happen. After

that, the rest is just making,
putting all those promises,

putting all those things that we
talked about in the play. So

what sort of network do we need
to do? What sort of things need

to be in place? What sort of
knowledge needs to be in place?

And now that I've got these
assets, these investors, and I'm

still getting more investors,
I'm still getting more assets.

How do I get how do I keep
going, but you've already

committed so now you've got to
just fulfill your promise.

That's all. So familiar, filling
the promise. So and then getting

into your goal. So that's how
you get to your goal is by

committing to that extent, you
know, that's certainly something

that we can help you with. Oops,
sorry about that. But that meant

to move here, arrogant. So,
which brings us to our law firm.

So what we do, so I'm obviously
Tilden Moschetti. I am a

syndication attorney. I'm also a
syndicator. I also put together

my own deals. So I've got a lot
of experience in this industry.

And that's what we bring to the
table that I think

and that's what we we bring to
the table is the experience in

the business. So not only do I
help maybe 100 people or 100

syndicators a year in putting
together their offerings and

getting them out there to the
world, you know, supporting them

along the way, making sure you
know, helping them strategize.

Well, what's the marketing going
to look like? What? We've got

decisions to make about this? Oh
my gosh, the investors, they

need to know x, y, z. FN has
nothing to do with law. But can

you help me? Answers? Yeah,
because I've been there. I know

exactly what you've been going.
I've been sitting across from

from investors, before I've done
pitches. I've you saw the one I

did for MCA lending. That's just
what I do. Right? I have to make

pitches because I talk to
investors all the time. You

know, and you will get to that
point, and you'll get way better

than me, I'm sure. But that's
the kind of thing that I can I

can help you with. Because we've
got experience not only just on

the business, you know, working
on it, building the building out

the structure getting King true,
your entities are set up and

getting you the right private
placement memorandum and the

operating agreement and the
subscription agreement. But

we're like, we're like a
mechanic who also raises cars,

right? I've driven a car. I
haven't just worked on cars. And

that's what sets us apart. Is
that that we're in there with

you. We're actually tinkering
with the car to we're making it

work. We're tuning in, we're
helping you, you know, do

everything that needs to be
there. Because we've raced cars

we've been in the car, we know
what, what's supposed to happen.

I know that when you when you do
this, it's supposed to do that,

not just as a pure function of
theory, but it because I've been

there. I've had investors asked
me, Well, why are you doing your

distributions that way? You
know, I've had that

conversation. Many times, I've
had the conversation of, well,

we're looking at the possibility
of doing a capital call. And if

we do decide to do that, here's
what it's gonna look like. And

as uncomfortable as it is to
have in the moment, fortunately,

never actually had to make a
capital call. But I've had

nearly need to make a capital
call. And I had to tell my

investors and I had to be
sitting across from them and

explaining that. So I know the
reality of it as it is there.

And you're going to be in that
space, too. And so that's what

we can help you with, is making
sure that your structure is put

together in a way that when
those things happen, you're

ready for you can do what needs
to get done.

I'm an expert in Regulation D,
rule 506, B, 506. C, it's all we

do. All I do is help investors,
people, I mean, help sponsors,

like you with putting these
offers together. So my legal

side, I don't do anything family
law, I don't do criminal I don't

I don't even do business law as
it relates to a lot of things,

even if even in things like,
like, if there is a litigation

around securities, I don't do
that. All I do is this stage of

security. Because I know I'm the
best there is, I know I can do

it. And I know I can get great
results. And I know that when

you hire me, I can give you a
product, and I can give you the

support that will make you
successful. And you're never

gonna have to deal with the loss
of sin, you're not gonna have to

deal with those. And I can't
100% guarantee it because

anybody can file a lawsuit. But
I can make it very, very likely

that you're going to be in a
great place. Right? The rest

will be really up to you. And of
course asking if you've got any

questions, then you can, of
course, ask.

And so, one thing that I think
people a lot of people hire me

for is like, literally, whenever
a situation arises, we're

literally at call, text, email,
whatever it is away. So the

clients all have the ability to
send me texts. I don't give out

my cell phone, but that's just
because, you know, a text is

much more reliable for for me
anyway. I my phone never really

even rings, my phone buzz just a
minute ago, that was a text

coming in from a client. So
there you go. So I'm by can't

obviously respond at this
minute, but I will respond as

soon as we get off the phone. So
you know who you are. You were

the lucky one. Now it lives on
in infamy. But so I'm literally

like, easy to get a hold of, you
get a you're only dealing with

me. I have a staff that's built
out and we're actually growing

so we're growing in a way that
still makes it so that you have

ready access to meet because
that's really what you're

hiring. For, you know why, when
you hire a syndication attorney,

you don't want to spend all this
money just to get somebody you

know, apparent legal and you
never get to talk to the person

who actually has been in the
trenches. Right, even though I'm

probably the only syndication
attorney who's actually in the

trenches, but you ultimately
want to get a hold of the

attorney anyway. And not
somebody who's junior to them?

Well, I will have somebody who
will be in place to help

facilitate that. But that's
going to be their role, your

role, their role will not be
actually, you know, doing that

work, it's going to be okay, how
do we make sure that all the

questions of our clients are
getting answered as quickly as

possible. And they'll have
direct access to me. But the

reality is, you also have direct
access to me, as a client, you

can always text me, text is
probably the fastest. That's who

we are. My name is Tilden,
Moschetti. I am the attorney of

Moschetti syndication law PLLC
most of the time, I call him a

skinny syndication lager. And
we, we can help you put together

your offering, whether it's your
first syndication, first

investment fund, you're raising
money for your business, or

you've done it for years, you
know, we'd be happy to help.

Again, you get all those
benefits of my experience, at no

extra costs. And it's, you know,
it's just included in what we

do. And I enjoy it. And I hope
you enjoy the process as well.

So that was our webinar for 2024
to get ready to launch. I do

wish every single one of you
incredible success, the more we

do, as a as an industry to make
alternative investments as

successful as possible, the
better it is for everybody.

Right, this is the beauty of
capitalism is that, you know, it

raises all boats, right? So the
better our industry does, the

better it is for every single
one. So obviously, I care a lot

about making sure that the whole
industry is well taken care of

that we all do the right thing.
We're all compliant. We all make

our investors massive amounts of
money. We make massive amounts

of money for ourselves. That's
my goal. That's my wish for

2024. So I hope you have a very,
very happy new year.