Dave Kotter is the CEO and President of Hybrid Debt Fund and Integrity Capital LLC, with over $2 billion in funded loans. He specializes in private credit solutions that bridge the gap between traditional bank financing and equity, offering innovative stretch senior loans that provide higher leverage while allowing sponsors to retain more control and equity upside.

📢 Announcement: Get 25% off your first two months with Hemlane’s property management software — visit hemlane.com and use the promo code: multifamilypodcast25.

• Hybrid Debt Fund’s stretch senior loan structure can finance up to 90% LTC, reducing equity needs.

• The fund is designed to fill the lending gap left by banks tightening credit in recent years.

• Dave evaluates deals based on the asset’s fundamentals and the sponsor’s track record.

• Higher leverage is paired with strict underwriting and active risk management.

• Building a first-time $50M fund required patience, strong investor relationships, and clear communication.

Bridging the Gap Between Debt and Equity

• How Hybrid Debt Fund’s stretch senior loans combine aspects of senior debt and mezzanine financing.

• Why this model helps sponsors retain more equity without giving up control.

Filling the Financing Void

• Traditional banks have pulled back on CRE lending, especially for transitional assets.

• Private credit has stepped in to offer flexible capital for well-underwritten deals.

Evaluating Deals and Sponsors

• Asset quality, location, and market trends are weighed alongside the sponsor’s experience.

• Emphasis on proven operators who communicate transparently and have a track record of execution.

Launching and Growing a Private Debt Fund

• Challenges in raising and deploying $50M for a first-time fund.

• The importance of selecting the right investor channels and delivering consistent reporting.

Risk Management at High Leverage

• Strong covenants, active monitoring, and conservative stress testing help mitigate downside risks.

• Dave’s approach balances creative structuring with disciplined underwriting.

Make sure to download our free guide, 7 Questions Every Passive Investor Should Ask, here.

Failure that set Dave up for success: Lessons from the 2008 downturn on managing debt and keeping margin in deals.

Digital or mobile resource: ChatGPT & PodPitch.

Book recommendation: Atomic Habits by James Clear.

Daily habit: Evening journaling to review the day, note wins, and set priorities for tomorrow.

#1 insight for launching a fund: Learn from experienced operators before you start—plan, then execute with discipline.

Favorite restaurant in Scottsdale, AZ: True Food Kitchen.

• Visit hybriddebtfund.com to learn more about Dave’s lending model.

• Connect with Dave on LinkedIn for updates and insights on private credit and commercial lending.

Thank you for joining us for another great episode! If you’re enjoying the show, please LEAVE A RATING OR REVIEW, and be sure to hit that subscribe button so you do not miss an episode.

Jason Kenney is a real estate investor and founder of Novo Capital Management. After a career in financial services and multiple corporate relocations, he launched his investing company in 2019 and left corporate in 2023 to focus exclusively on real estate. Jason now invests primarily in multifamily syndications and creates education for aspiring passive investors on YouTube.

📢 Announcement: Get 25% off your first two months with Hemlane’s property management software — visit hemlane.com and use the promo code: multifamilypodcast25.

• “Passive” single‑family rentals often become a second job without systems and scale.

• Start with market fundamentals first—job growth, supply and demand, and barriers to homeownership—before evaluating a property.

• Vet the operator as thoroughly as the deal; team quality is the biggest risk lever for LPs.

• Clarify your goals and your “why” so investments match the life you want, not just returns.

• Education and community help shorten the learning curve and avoid costly mistakes.

From Corporate Careers to Real Estate

• Launched a real estate investment company in 2019 and exited corporate in 2023.

• Early single‑family approach created “passive” income that still demanded nights and weekends.

• Shifted to multifamily syndications for scale, professional management, and true passivity.

How Jason Underwrites Markets

• Looks first at macro drivers: jobs, quality of life, and cost of living.

• Studies submarket supply pipelines and rent/occupancy trends to avoid oversupplied pockets.

• Prefers markets with high barriers to homeownership and a strong rent‑vs‑buy spread.

Choosing Operators and Deals

• Prioritizes track record, communication, and alignment of interests.

• Evaluates assumptions, downside plans, and capital preservation before upside.

• Diversifies across sponsors and markets to manage risk.

Education and Content

• Shares passive‑investing fundamentals and case studies on his YouTube channel “Hassle Free Wealth.”

• Encourages new investors to define outcomes first, then pick strategies that fit.

Make sure to download our free guide, 7 Questions Every Passive Investor Should Ask, here.

Failure that set Jason up for success: Withdrawing from college and starting again taught him discipline and grit that now guide his investing journey.

Digital or mobile resource: CREXI — for market comps, property records, and demographic insights.

Book recommendation: Never Eat Alone by Keith Ferrazzi — a playbook for building authentic relationships.

Daily habit: Starts each day by revisiting his “why,” using it to stay focused and navigate setbacks.

#1 insight for passive investors: Know the team behind the deal and how they manage risk—operator quality drives outcomes.

Favorite restaurant in Murfreesboro/Franklin, TN: Herban Market.

• Check out Jason’s educational videos on YouTube.

• Clarify your investment goals and risk tolerance before evaluating opportunities.

• When reviewing a deal, start with the market and the operator’s track record, then dig into assumptions.

Thank you for joining us for another great episode! If you’re enjoying the show, please LEAVE A RATING OR REVIEW, and be sure to hit that subscribe button so you do not miss an episode.

Mark Kohler is a bestselling author, entrepreneur, attorney, CPA, and the founding and senior partner at KKOS Lawyers. Specializing in tax, legal, wealth, estate, and asset protection planning, Mark has helped thousands of small business owners and investors align their tax strategies with their real estate and business goals. He is also the host of The Main Street Business Podcast and Directed IRA Podcast, educating entrepreneurs on practical ways to build wealth and save taxes.

📢 Announcement: Get 25% off your first two months with Hemlane’s property management software — visit hemlane.com and use the promo code: multifamilypodcast25.

• The difference between an accountant, tax advisor, and tax lawyer—and why you need all three working together

• Four main “lanes” of real estate investing and the tax advantages for each

• Why turnkey real estate can be risky without proper oversight

• The benefits of using retirement accounts for real estate investing

• Common mistakes investors make with self-directed IRAs

From Entrepreneur to Tax and Legal Strategist

• Mark’s journey from lemonade stand kid to CPA, attorney, and business owner

• Why having a business mindset matters in tax and legal advising

• His personal investing experience in multifamily, commercial, and other asset classes

Four Lanes of Real Estate Tax Benefits

• Active real estate professional: S corporations and daily operations

• Retirement account investing for tax-free or tax-deferred growth

• Passive ownership for cash flow and deferred depreciation benefits

• Self-rental and short-term rental strategies for tax advantages

Aligning Tax and Real Estate Strategies

• Importance of starting with a tax lawyer to build a plan

• Coordinating between lawyer and accountant to avoid conflicting advice

• Examples of combining asset protection, tax benefits, and investment goals

Self-Directed IRAs and Retirement Accounts

• How to use retirement accounts to invest in real estate and alternative assets

• Prohibited transactions and common pitfalls

• Pooling accounts and using leverage for larger deals

From Compliance to Advisory

• Why most accountants are stuck in compliance mode

• How tax advisors elevate your strategy beyond tax preparation

• The role of education and continuous planning in saving taxes

Make sure to download our free guide, 7 Questions Every Passive Investor Should Ask, here.

Failure that set Mark up for success: Reinvesting all profits back into his business instead of buying real estate—until he began allocating annual profits to property acquisitions.

Digital or mobile resource: iTunes — to find and follow podcasts that educate and inspire.

Book recommendation: Traction by Gino Wickman.

Daily habit: Reading scriptures every morning.

#1 Insight for maximizing your tax strategy: Regular conversations and planning about taxes.

Favorite restaurant in Utah: Dairy Keen.

• Visit markjkohler.com

• Listen to the Main Street Business Podcast and Directed IRA Podcast

• Explore services at kkoslawyers.com and directedira.com

Thank you for joining us for another great episode! If you’re enjoying the show, please LEAVE A RATING OR REVIEW, and be sure to hit that subscribe button so you do not miss an episode.

Brandon Rickman is a seasoned real estate investor and entrepreneur who has flipped over 500 houses and owned both short- and long-term rentals. He has raised private money for multiple projects, operates a private lending business, and is currently developing a three-story A-class self-storage facility outside of Atlanta. With over two decades of experience, Brandon has scaled from small residential projects to multimillion-dollar commercial ventures.

📢 Announcement: Get 25% off your first two months with Hemlane’s property management software — visit hemlane.com and use the promo code: multifamilypodcast25.

• How starting small—and with a clear vision—paved the way to a $20M flipping business

• Why mentorship and outbound marketing were the keys to scaling to 100 flips a year

• The shift from transactional real estate to building generational wealth through multifamily and self-storage

• How diversifying across multiple asset classes creates income stability

• Why the right operator matters more than the perfect-looking deal when investing passively

From Teacher and Employee to Full-Time Investors

• Brandon and his wife started flipping homes while working full-time jobs

• Learned early lessons by doing much of the work themselves and making mistakes on their first project

• Quickly realized the importance of mentorship and outbound marketing strategies

Scaling to 100 Flips a Year

• Mentorship revealed the systems needed for high-volume flipping

• Built a 15-person acquisitions and operations team

• Implemented CRM, call tracking, direct mail, cold calling, texting, PPC, and more

Transition to Multifamily and Self-Storage

• Flipping and new construction were profitable but highly transactional

• Multifamily and self-storage offered long-term cash flow and generational wealth potential

• Began developing a large self-storage facility while investing passively in other deals

Diversification for Stability

• Operates flipping, lending, multifamily, and self-storage businesses

• Invests both actively and passively in multiple asset classes

• Uses diversification to balance market fluctuations

Advice for Passive Investors

• Prioritize trust and track record when selecting operators

• Perform due diligence but avoid chasing unrealistic returns

• Never get emotionally attached to a single deal—there will always be another opportunity

Make sure to download our free guide, 7 Questions Every Passive Investor Should Ask, here.

Failure that set Brandon up for success: Investing with the wrong people early on without proper vetting—learning to prioritize trust and due diligence.

Digital or mobile resource: CRM platforms, CallRail for call tracking, and InvestNext for investor management.

Most recommended book: Courage Required by John Richie.

Daily habit that keeps him on track: Morning prayer and scripture reading, plus annual goal-setting with his wife for 1-, 3-, and 5-year plans.

#1 Insight for scaling in commercial real estate: Partner with experienced operators on a project-by-project basis to avoid paying the “stupid tax” of costly mistakes.

Favorite restaurant in Marietta, GA: Moxie Burger.

• Send an email to Brandon: [email protected]

• Visit his website: theflipgenius.com

Thank you for joining us for another great episode! If you’re enjoying the show, please LEAVE A RATING OR REVIEW, and be sure to hit that subscribe button so you do not miss an episode.

Gary Harper is the founder and CEO of Sharper Business Solutions and co-creator of the Rise Business Framework. After a successful career as a corporate executive, Gary transitioned to real estate and later business coaching, helping over 4,000 entrepreneurs grow and systematize their operations. His work blends deep business strategy with a purpose-driven mission to empower others while supporting meaningful causes.

📢 Announcement: Get 25% off your first two months with Hemlane’s property management software — visit hemlane.com and use the promo code: multifamilypodcast25.

• Why corporate success alone didn’t create fulfillment for Gary

• How Lyme disease shifted his life and pushed him back into entrepreneurship

• The four reasons businesses don’t scale successfully

• Why real estate was never his passion—but a tool for impact

• How the Rise Business Framework helps entrepreneurs grow and lead with intention

From Fortune 500 to Real Estate Investor

• Gary started investing in real estate while climbing the corporate ladder

• By 2006 he had multiple rentals but was hit hard during the 2008 crash

• Filed bankruptcy after tax reassessments and underwater properties

Health Crisis and Purposeful Reinvention

• Diagnosed with Lyme disease, suffered from panic attacks and mental regression

• Forced to step away from corporate and slowly returned to real estate through wholesaling

• Eventually realized his calling was not real estate itself, but helping others succeed through business coaching

Four Reasons Entrepreneurs Struggle to Grow

• Fear – needs to be replaced with knowledge and faith

• Mindset – people who ask questions grow faster than those who make statements

• Connections – a key to growth and unexpected opportunities

• Systems – without structure, chaos prevents scale

The RISE Business Framework

• A four-quadrant system: Resources, Inspire, Systems, Engage

• Helps entrepreneurs move through the 5 phases of business growth

• Guides owners on how to delegate, lead, and implement systems

• Focuses on sustainable growth, not just expansion

Make sure to download our free guide, 7 Questions Every Passive Investor Should Ask, here.

Failure that set Gary up for success: The 2008 crash and resulting bankruptcy—though painful—became the foundation for his next chapter and mission.

Digital or mobile resource: Coach Gary (an AI tool trained on his content) and Asana for business task management

Book recommendation: The Dream Manager by Matthew Kelly

Daily habit: Wim Hof breathing followed by a morning walk and review of a one-page vision plan

#1 Insight for business success and growth: Surround yourself with the right people—growth is never a solo journey

Favorite restaurant in Northwest Indiana: Umi.

• Visit: sharperbusiness.com

• Explore: Coach Gary AI

Thank you for joining us for another great episode! If you’re enjoying the show, please LEAVE A RATING OR REVIEW, and be sure to hit that subscribe button so you do not miss an episode.

Dr. Alex Schloe is a board-certified family medicine physician, entrepreneur, and real estate investor. After facing burnout while working in the military and hospital systems, Alex turned to real estate to regain freedom and impact. Today, he focuses on residential assisted living and co-hosts The Real Room podcast while helping other physicians build time-leveraged wealth through Open Range Capital.

📢 Announcement: Get 25% off your first two months with Hemlane’s property management software — visit hemlane.com and use the promo code: multifamilypodcast25.

• Residential assisted living (RAL) combines healthcare, real estate, and operations to serve aging populations with dignity and profitability.

• Dr. Schloe experienced burnout in clinical medicine, which pushed him to create freedom through real estate investing.

• RAL offers multiple entry points: operator, property owner, capital partner, or full integrator.

• Success in RAL depends on location, layout, and—most importantly—the quality of the operator.

• Medical professionals have the mindset and work ethic to thrive in real estate if they shift their time-value perspective.

From Military Physician to Real Estate Investor

• Alex served in the Air Force and later in hospital systems, where he saw firsthand the limitations of trading time for income.

• Began investing in multifamily, then transitioned into assisted living for greater impact and control.

Why Residential Assisted Living Is a Powerful Asset Class

• Demand is rising due to aging Baby Boomers and a lack of sufficient facilities.

• RAL facilities house 6–16 residents in a home-like setting with 24/7 caregivers.

• Offers stability, strong cash flow, and impact for families and communities.

Ways to Participate in Assisted Living

• Operate the business

• Own the real estate

• Partner with an operator as a capital partner

• Do all three as a vertically integrated investor

Evaluating Operators and Managing Risk

• Operator quality is the #1 driver of success—background checks, turnover, and systems matter.

• Look for state citations and regulatory issues before entering a deal.

• Consider building strong values alignment with any partners before investing.

Advice for Physicians Exploring Real Estate

• Passive income isn’t about replacing medicine—it’s about buying back your time.

• Start with education, then get around a community that understands your lifestyle and goals.

• RAL is one of few asset classes where your background can add value beyond capital.

Make sure to download our free guide, 7 Questions Every Passive Investor Should Ask, here.

Failure that set Alex up for success: Ignoring his father’s advice to house hack during med school, he later realized the compounding power of starting earlier.

Digital or mobile resource: The RAL Room community platform: a centralized space for education, operator connection, and deal flow in assisted living.

Book recommendation: Wild at Heart by John Eldredge. Offers insight into identity and purpose, especially during career transitions.

Daily habit: Structured morning routine: prayer, journaling, reading, and a walk or workout to center the day.

#1 insight for entering assisted living real estate: Residential assisted living has outperformed every other commercial real estate asset class for the past 12 years.

Favorite restaurant in Colorado Springs, CO: Garden of the Gods Market and Cafe.

• Listen to The RAL Room podcast for insights into the assisted living business model

• Connect with Alex on LinkedIn or Instagram.

Thank you for joining us for another great episode! If you’re enjoying the show, please LEAVE A RATING OR REVIEW, and be sure to hit that subscribe button so you do not miss an episode.

Kylan Yarbrough began his journey in multifamily real estate at just 17 years old. By 19, he had already advanced to regional property manager, and today he brings an owner-operator mindset to his 195 multifamily units. With a background rooted in ground-level operations and a passion for improving communities, Kylan is also developing property management software to bridge the communication gap between owners and operators.

📢 Announcement: Get 25% off your first two months with Hemlane’s property management software — visit hemlane.com and use the promo code: multifamilypodcast25.

• How starting as a porter gave Kylan deep insight into every layer of multifamily operations

• Why owner-mindset thinking from day one accelerated his growth

• Common disconnects between owners and property management teams

• The importance of training and internal growth within property management companies

• How his new software aims to proactively flag performance issues before they become major problems

From Porter to Owner

• Kylan started in property management as a porter, cleaning and handling on-site tasks

• He quickly moved through roles by intentionally learning every position and system

• His approach was always guided by an owner’s mindset, even in junior roles

Owner vs. Property Manager Mindsets

• Many PMs lack ownership-level insight into KPIs, NOI, and long-term strategy

• Owners can benefit from ensuring their managers are trained to think like operators

• Proper onboarding and ongoing education within PM companies reduces turnover and improves resident experience

Building a Property Management Software

• Kylan is developing a tool focused on owner alerts, resolution pathways, and red flags

• The platform bridges the gap between raw data and actionable, ownership-specific insights

• It includes engagement scoring and automation to improve communication and oversight

Improving Team and Tenant Retention

• High staff turnover damages resident trust and community stability

• Owners should evaluate management companies based on their support structures for staff development

• Aligning incentives and visibility helps everyone perform with clarity and purpose

📢 Announcement: Make sure to download our free guide, 7 Questions Every Passive Investor Should Ask, here.

Failure that set Kylan up for success: Getting fired from a PM job for trying to underwrite a deal as a potential buyer motivated Kylan to fully transition to ownership, ultimately connecting him with key mentors.

Digital or mobile resource: Crexi – great for scanning deals quickly and connecting with brokers.

Book recommendation: Rich Dad Poor Dad – opened his eyes to financial expansion and real estate investing.

Daily habit that helps stay focused: Showing up consistently, even without motivation—plus micro workouts to reset energy.

#1 Insight for being an owner-operator: Have fun, stay growth-focused, and build genuine communities—not just portfolios.

Favorite restaurant in Dallas, TX: Shell Shack.

• Connect with Kylan via Instagram: @kylanmultikeys

• Email: [email protected]

Thank you for joining us for another great episode! If you’re enjoying the show, please LEAVE A RATING OR REVIEW, and be sure to hit that subscribe button so you do not miss an episode.

Stephen Predmore is the founder and managing partner of Talbott Investments. A former engineer with over 20 years of experience in the manufacturing industry, Stephen transitioned into real estate after a sudden layoff. Since then, he’s grown from single-family investor to general partner in multifamily, specializing in JV structures and educating engineers on passive investing strategies.

Get 25% off your first two months with Hemlane’s property management software — visit hemlane.com and use the promo code: multifamilypodcast25.

• Getting laid off inspired Stephen to shift from engineering to real estate investing.

• Initial investments in high-cash-flow rentals revealed the operational challenges of managing tenants and maintenance.

• Transitioning to passive investing provided stronger returns with less stress and time commitment.

• JV deals allow Stephen to combine the benefits of active and passive investing with small groups and creative value-add strategies.

• Engineers often underestimate the time burden of active real estate and over-rely on spreadsheets instead of evaluating lifestyle impact.

From Layoff to Landlord

• How a sudden post–Super Bowl layoff catalyzed Stephen’s investing journey.

• Lessons learned from early Baltimore rental properties, including eviction challenges and Section 8 issues.

The Case for Passive Investing

• LP investing offers more stability and better returns than small-scale rentals.

• Passive deals free up time while enabling continued W-2 work or other ventures.

• Stephen highlights how his handyman side hustle now fuels his passive portfolio.

JV Deals and Strategic Value-Adds

• Recent acquisitions in West Virginia and Alaska with JV partners.

• Boosting NOI with storage unit additions, washer/dryer installations, and electrical upgrades.

• Investing in red states with favorable landlord laws.

Engineering the Passive Path

• Why professionals—especially engineers—should consider passive syndication investments.

• Real estate isn’t always passive: time cost, emotional stress, and operational friction are often overlooked.

Common Missteps of First-Time Investors

• Underestimating time and headspace costs.

• Taking court battles personally instead of hiring help.

• Forgetting that return on time is just as important as return on capital.

Make sure to download our free guide, 7 Questions Every Passive Investor Should Ask, here.

Failure that set Stephen up for success: Early struggles managing rentals in Baltimore—evictions, repairs, and stress—led to a smarter pivot to multifamily investing.

Digital/Mobile Resource: Canva — essential for creating content quickly and easily, especially on the go.

Book Recommendation: Who Not How — reading it twice helped him delegate, hire VAs, and focus on high-value tasks.

Daily Habit: Works every weekday after his W-2 job, either going to the gym or working a handyman job to generate capital for investing.

#1 Insight for Scaling into Multifamily: Surround yourself with like-minded people—mentors, coaches, and communities normalize the journey and accelerate growth.

Favorite restaurant in Baltimore, MD: Pappas Restaurant.

• Learn more at talbottinvestments.com/engineer-12-reasons, where Stephen offers a free guide tailored for engineers exploring passive investing.

• Follow Stephen on LinkedIn to explore his writings and connect with his network.

Thank you for joining us for another great episode! If you’re enjoying the show, please LEAVE A RATING OR REVIEW, and be sure to hit that subscribe button so you do not miss an episode.

Gian Pazzia is a seasoned cost segregation expert and structural engineer who has spent over 25 years helping real estate investors unlock powerful tax strategies. As a former engineer at Arthur Andersen and current leader at costsegregation.com and KBKG, Gian has worked with everyone from small landlords to major casinos and Fortune 500 companies to help them accelerate depreciation and reduce their tax burdens.

Get 25% off your first two months with Hemlane’s property management software — visit hemlane.com and use the promo code: multifamilypodcast25.

• Cost segregation allows investors to accelerate depreciation and unlock large tax deductions—sometimes up to 25% of the property’s value in year one.

• Bonus depreciation is currently at 40% but may return to 100% in 2025 with bipartisan support.

• Software-based cost segregation now makes it accessible for small residential investors at a fraction of traditional costs.

• Strategic timing of sales and 1031 exchanges is key to avoiding tax recapture issues.

• Estate planning considerations can influence whether and when to use cost segregation.

Understanding Cost Segregation

• How accelerated depreciation breaks down building components into shorter tax lifespans.

• Common items eligible for faster write-offs include appliances, vinyl flooring, wiring, and driveways.

Bonus Depreciation and Legislative Changes

• History of bonus depreciation and the anticipated 2025 revival to 100%.

• How changing percentages (e.g., 60% to 40%) affect timing strategies for investors.

Cost Seg for Small Investors

• Introduction of software at costsegregation.com for properties with six units or fewer.

• Investors can complete a study in under 15 minutes for about $500.

1031 Exchanges and Depreciation Recapture

• Misconceptions around available depreciation post-1031 exchange.

• Case study examples of how remaining basis affects new depreciation schedules.

Estate Planning Implications

• Why it’s smart to use cost seg now if you expect a step-up in basis later.

• Untapped depreciation is lost if unused before the estate passes.

Common Mistakes in Cost Seg

• Failing to account for recapture when flipping in under 3 years.

• Not verifying provider credentials—look for certified cost segregation professionals.

Make sure to download our free guide, 7 Questions Every Passive Investor Should Ask, here.

Failure that set Gian up for success: Getting complacent during early success, now stays focused on innovation and competition, especially with tech advancements.

Digital/Mobile Resource: ChatGPT — now used internally with integrations across SharePoint and Outlook.

Book Recommendation: The Five Dysfunctions of a Team by Patrick Lencioni — great for building leadership teams and partnerships.

Daily Habit: Maintains handwritten lists and reprioritizes regularly to stay focused on daily execution.

#1 Insight for getting a cost segregation analysis: Use credentialed professionals—look for a CCSP designation from the American Society of Cost Segregation Professionals.

Favorite restaurant in Los Angeles, CA: A Chicago-style hot dog spot, honoring Gian’s love for his old hometown’s iconic food.

• Visit costsegregation.com to explore Gian’s software tool.

• Use promo code INSIGHTS2025 for 10% off your first study.

• Connect with Gian on LinkedIn to follow his updates and industry insights.

Thank you for joining us for another great episode! If you’re enjoying the show, please LEAVE A RATING OR REVIEW, and be sure to hit that subscribe button so you do not miss an episode.

Nic McGrue is the founder of Polymath Legal PC, a boutique law firm focused on helping real estate investors lawfully raise capital through syndications. With over a decade of experience and licenses in California and Washington, Nic specializes in securities law and real estate partnerships. He’s also a tenured business law professor who brings both legal and practical insight to every client, helping them raise money legally while protecting themselves and their investors.

📢 Announcement: Get 25% off your first two months with Hemlane’s property management software — visit hemlane.com and use the promo code: multifamilypodcast25.

• If you’re raising capital from passive investors, you’re selling securities—understanding exemptions like Reg D (506b/506c) is critical.

• Regulation D allows unlimited capital raising and is more practical and economical than Reg A or going public.

• The PPM (Private Placement Memorandum) isn’t just for disclosure—it’s also legal protection for both syndicators and investors.

• Disclose every risk that could impact a deal—even if it sounds scary. Transparency builds trust and legal protection.

• When things go wrong, consistent communication with investors can reduce legal risks and preserve relationships.

How to Legally Raise Capital for Real Estate

• Most syndicators use Regulation D exemptions to avoid the complexity of going public.

• Reg D has two primary options: 506(c) for accredited investors with general solicitation, and 506(b) for known investors including up to 35 sophisticated but unaccredited individuals.

• Knowing which exemption to use depends on your network, capital goals, and communication strategy.

Understanding the PPM and Why It Matters

• The PPM outlines who you are, what the deal is, and what could go wrong.

• Disclosing all risks protects the issuer—lack of disclosure can trigger SEC scrutiny and lawsuits.

• If the document sounds “too safe,” that’s a red flag. A realistic PPM should include worst-case scenarios.

What to Do When a Deal Goes Sideways

• Communicate early and often. Most lawsuits stem from silence—not poor performance.

• Call investors before sending bad news in writing. Set expectations before outcomes shift.

• When necessary, hire litigation counsel, but don’t wait to start investor conversations.

Best Practices for Operator Partnerships

• Vet your potential partners: are they filling a true strategic role or just a task you could outsource?

• Build detailed operating agreements like prenuptial contracts—define roles, expectations, equity, and exit plans.

• Align on contributions, decision-making, and conflict resolution before launching your business together.

Make sure to download our free guide, 7 Questions Every Passive Investor Should Ask, here.

Failure that set Nic up for success: After graduating law school in 2009, Nic lost a job offer due to the recession. That setback led him to launch his firm earlier than expected—an unplanned move that shaped his current success.

Digital or mobile resource: Notion – Used to track daily to-dos, long-term goals, team communication, and even household systems.

Book recommendation: Limitless by Jim Kwik – A foundational read on breaking mental barriers and unleashing your full potential.

Daily habit: Meditation or walking as a form of mental reset—critical for slowing down and managing the chaos of entrepreneurship.

#1 insight for protecting yourself legally in real estate: Get a great attorney. Legal guidance is your first and best layer of protection.

Favorite restaurant in Inglewood, CA: Stuff I Eat.

• Learn more at polymathlegal.com

• Check out Nic’s previous episode on Multifamily Insights

• If you’re raising capital, start with clarity: know your exemption, disclose all risks, and build investor trust from day one

• Don’t skip the PPM or your operating agreement—they’re critical tools, not formalities

Thank you for joining us for another great episode! If you’re enjoying the show, please LEAVE A RATING OR REVIEW, and be sure to hit that subscribe button so you do not miss an episode.