We’ll take care of the arrears in a minute.We always go through Escrow and Record, so we need to account for those costs.

PE often wants scale, track record, and systems; many first deals pencil faster with private lenders or JV partners you already know.

What’s your record, and what made that deal move so fast?

If refinancing is tricky with your current bank, you might explore portfolio or private lenders who consider your full track record and rehabs, or a cash-out refi elsewhere to free up funds for the next project.

Be sure to keep detailed records for the following:🏠 Mortgage Interest – One of the largest deductions available.🧾 Property Taxes – Deduct annual real estate taxes paid.🔧 Repairs & Maintenance – Expenses to keep the property in good condition (e.g., plumbing, painting, appliance replacement).🪜 Depreciation – A major benefit allowing you to deduct the property’s wear and tear over time.💡 Utilities – If you pay for water, gas, or electricity, those are deductible.🧹 Cleaning & Landscaping Services – Routine upkeep expenses.💼 Professional Fees – Legal, accounting, or property management services.🧑‍🔧 Contractor Labor & Supplies – Any materials or hired help for property improvements.🚗 Mileage/Travel – When traveling to inspect or manage rental properties (keep mileage logs).💻 Office Supplies & Software – Including bookkeeping tools, printers, and even part of your home office.Creative Ways to Give Back — and Still SaveGiving back can also be tax-deductible when done thoughtfully:🎁 Tenant Appreciation Gifts: Small gifts such as gift cards, snacks, or holiday baskets (under $25 per tenant per IRS rules) can be deductible as a business expense.🏘️ Community Donations: Contributing to local charities, shelters, or community events near your property may be tax-deductible if donated to a registered nonprofit (501(c)(3)).🧤 Property Improvement Drives: Donating old appliances, furniture, or materials from renovations to nonprofit organizations like Habitat for Humanity can qualify as a charitable deduction.Pro Tip:Before December 31st, review your receipts, invoices, and bank statements.

Pay mortgages personally from those draws to avoid lender issues.Keep meticulous records separating LLC/personal funds.

We’ll take care of the arrears in a minute.We always go through Escrow and Record, so we need to account for those costs.

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.  

These syndicators are less likely to field questions or scrutiny from potential LP's on track record, capital stack structure, GP equity investment, fee structure etc.

As in all things in life (like choosing a spouse)for instance, it's incumbent upon us to examine our individual personalities regarding whether a proposed partnership would be a good fit or a disaster in waiting.In 2007, when I lost more than $130,000 in the stock market,I learnt a permanent lesson that stuck with me till today.I discovered that I was a control freak.I needed to always know how my actions directly related to my results, and most often like to retain the ability to change my mind even if others would find such reversal a stupid idea.Seeing how much control I didn't have on how my stocks performed in 2008 despite all the information I had consumed for several months regarding value investing and how to analyze a company's fundamentals scarred me for life.It made a real estate investor out of me.The safety and assurance that I was taking sole responsibility for the calls i made and the risks I decided to take was a calming refuge.Having been a Pro-member on BiggerPockets for as long as I've been has its perks.It gives one a front row seat to see in slow motion the interesting evolution of the component parts that make up this mammoth industry.I watched in amusement as one member arrived as a total newbie in 2018 with a welcome post, voraciously consuming unsolicited counsel on the member forums for a few months and then posted a "success story" of his deals after 6 months.Within a year, he had his own podcast and is now buying large apartments as a syndicator pooling investors' money.To be clear, this is not a hate post.I certainly do not begrudge people "crushing it" in record time.Nonetheless, as a 'senior' member of this community who has seen this movie before,I do feel a lonely cautionary voice in the wilderness is needed at this point.We are in an environment of unprecedented cap rate compression and record low interest rates which is only headed in one direction after this is all over.Yes, make no mistake, the music will soon stop.That has very little to do with an upcoming election and is regardless of who wins the White House or who controls congress after November.If you've listened to Kevin Bupp and Rod Khleif, you know what happened to their portfolios in 2008.These were no amateurs, as a matter of fact, they had many years of investment experience when the music stopped.They both weathered the storm and came back stronger and that is why I remain a shameless fan of both men till today.Several others were not that lucky, and you will never hear their names.In this space today, there are investors and there are educators.The educators have taken over the habitat.That is why there are now more podcasts on real estate than I can get through in a working week.Real Estate education is so very lucrative now that it is possible to make way more money from podcasts and books than in actual real estate investment for some gifted marketers with smooth tongues and gifted content creators.We are in the information age after all, and youtube millionaires are now perhaps outpacing patient real estate buy and hold landlords in the passive income/ cash flow game.Belonging to a $25,000/year mastermind and attending a syndication bootcamp does not insulate anyone from catastrophe.