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  <title>Episode 289. Before You Wire: The Honest Conversation Every LP Needs to Hear</title>
  <description>Before you wire money into a syndication — whether it’s with me or another operator — you need to hear this. In this episode, I walk through the real conversation most sponsors don’t slow down enough to have. Multifamily investing is not a savings account. It’s not a money market fund. It’s an operating business. And businesses have seasons. There will be smooth years. There may be tight years. Insurance moves. Taxes move. Rent growth stalls. Market cycles shift. That doesn’t mean a deal is broken — but it does mean you need to understand what you’re stepping into before you send capital. I talk about:   Why you’re not just investing in a building — you’re investing in the operator   The uncomfortable questions every LP should ask before wiring   Break-even occupancy and why it matters   Reserves, illiquidity, and what “long-term” really means   The difference between professional LPs and new investors   Why alignment matters more than projected IRR   If you’re considering investing $50K, $100K, or more into a syndication, this episode is for you. No hype. No guarantees. Just real talk about risk, responsibility, and long-term wealth building in multifamily. </description>
  <author_name>Small Axe Podcast: Multifamily Real Estate | Buy Buildings, Build Empires</author_name>
  <author_url>http://smallaxe.libsyn.com/website</author_url>
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