There was a great line in Fight Club where they talk about paying people to remove fat through plastic surgery, stealing the bags of fat, turning it into soap, and selling it back to those same rich people.

Same vibes.

For my syndicator friends who are angry/confused by this…

These smooth-brained syndicators will 'over-capitalize' a project with alarming regularity.

If they need to raise 10M, they will raise 12M instead. They'll call the extra 2M some kind of reserve (operating, project, etc.) and put it in the bank. Most retail LPs aren't clever…

And now....I present The Grift

Investors like distributions. It's nice to cut a big check one month and get some smaller checks back the next month. Retail investors sorta understand value-add = no distributions for a while, but it doesn't mean they like it. What if there we are…

Could use some prayers Twitter people.

Nothing is wrong, yet, but I’m flying on a The Boeing Company 737 this morning.

My favorite part about the tech crowd is that when it works, it's because they're gifted genius thought-leaders. And when it doesn't, it's because our capitalist society is picking on them.

The thinnest of skins.

Been hearing good things about the mf’ers on this podcast

What’s the next thing I should breakdown?

And for my next trick, I’m gonna breakdown Collateralized Loan Obligations (a syndicator favorite) and the potential impact on the bond market.

Don’t worry, I’m a dumb real estate guy, you’ll be able to follow along. Stay tuned!

Heads up!

If you or a loved one lost money in a real estate syndication, or you’re worried you might, please reach out to Scott Carpenter.

He is a reporter who is investigating the space. Can be anonymous or on the record.

[email protected]
347.703.7241

Correct link here

app.box.com/s/cau3a72mqnn3…