So, although the market for “easy” syndication capital had dried up, a small sponsor raising a rather small amount of capital for a project type in which they have a verifiable track record of success should be very doable.  

Congrats on the dry powder—now put it to work strategically.

There is no residual value to a dried up drill site.Your point to asking how a fund of funds is being compensated should be taken in all industries: real estate, O&G, PE, hedge funds, VC, etc. 

Portfolio or property LOCsIf you own stabilized rentals, a revolving line of credit creates flexible “dry powder” between refis.The big picture: your equity is still working for you — you just need parallel capital sources so opportunities don’t slip by while you wait for seasoning or appraisal timelines.

I think CA is actually one of the best.. very cut and dry no redemptions etc..

Been a landlord and investor in Florida for over 25 years now, and here’s what blows my mind — I’ve never once had an insurance claim come anywhere close to the “full replacement value” I’m supposedly paying for.We’ve had roof leaks, fallen trees, a kitchen fire (caused by a tenant trying to dry clothes in the oven — long story), and even one hurricane claim that dragged out for months.

After every big storm on Long Island, I see the same issue—homes that look dry but aren’t.

It was there when we go there so no idea how old.Here at our primary, the one in place was at least 15 years old and it the bottom rotted out so I replaced it.Here is a photo of the type of dishwasher train downpipe I was talking about. 

And then as liquidity has dried up, volume has declined. 

., spray paint over wood with visible mold, partially covering rotted wood with plywood, etc).