In this episode, Craig McGrouther and I dive deep into the nuances of "above the line" and "below the line" expenses in multifamily underwriting. We explain how the "line" is Net Operating Income (NOI), with operating expenses like payroll and insurance sitting above, while CapEx and debt service fall below. I reveal the art behind these classifications and how a unit renovation could be coded as either R&M (above) or CapEx (below) depending on interpretation, affecting the property's apparent NOI and cap rate.

Using their current deal as an example, they show why contract services dropped from $127K to $57K and how they're handling bulk WiFi implementation.

The key insight: every sponsor underwrites differently, and sophisticated buyers/lenders understand these financials are normalized to each party's standards. This is essential knowledge for anyone evaluating multifamily investments.

Learn more about LSCRE:
www.lscre.com 

In this episode, Craig McGrouther sits down with Bernard Pierson, co-founder of EHP Capital, who's been LP investing since 2012 and now focuses on value-add multifamily in Kansas City. Bernard reveals a counterintuitive insight from his 50+ LP investments: deals projecting 15-17% IRRs often outperformed those advertising 30%+ returns.

He shares how Kansas City has consistently ranked in the top 5 U.S. markets for rent growth over the past 3 years while avoiding the supply issues plaguing gateway markets. Bernard breaks down their operational value-add approach, including discovering 200 unchecked voicemails on a property's leasing line that no one was monitoring. With family office investors from Latin America, EHP targets 17-18% IRRs, 5-7% cash-on-cash, and 2x equity multiples using conservative 60% LTV agency debt. His key lesson: the boring, down-the-fairway deals often deliver the best risk-adjusted returns.

Learn more about Lone Star Capital at www.lscre.com 

In this episode, Craig McGrouther and I tackle two of the most frequently asked questions from investors: bonus depreciation and 1031 exchanges. With 100% bonus depreciation returning, they explain why this doesn't automatically mean 1:1 depreciation for investors, breaking down how leverage, CapEx, and land allocation affect your actual depreciation ratio. Using our current deal as an example, we can show why conservative 65% leverage yields ~45% depreciation rather than the 90% you'd get at 80% leverage, but creates a much safer investment.

We also demystify 1031 exchanges, clarifying the crucial difference between exchanging INTO a deal (minimum $1M via tenancy-in-common) versus exchanging OUT at the partnership level after exit. I emphasizes the "magic" of syndications: allowing everyday investors to compound wealth tax-free through partnership-level 1031 exchanges without needing millions upfront.

Apply to attend the LSC Summit 2025:
www.lscsummit.com

Download our FREE Passive Investor Guide:
https://www.lscre.com/content/passive-investor-guide

Subscribe to our newsletter and get the FREE Underwriting Toolkit:
https://www.lscre.com/resource/fof-underwriting-toolkit

Learn more about Lone Star Capital:
www.lscre.com

Follow me on LinkedIn:
https://www.linkedin.com/in/rob-beardsley

Read my latest articles:
https://www.lscre.com/blog 

In this episode, Craig McGrouther sits down with Bryan Morris, co-founder of Seven Peak Capital, who shares his journey from earning $50K at Pepsi to building a successful fund management firm serving tech sales professionals. Bryan reveals how Rich Dad Poor Dad at age 22 changed his trajectory, leading him to buy his first rental property for $88K with just $17K saved. After relocating to NYC and completing Wharton's real estate certificate, he discovered the power of syndications for high-earning tech professionals stuck in expensive markets.

He breaks down Seven Peak Capital's dual strategy: multifamily equity plays and private credit opportunities, focusing on 2000+ vintage properties with 5%+ year-one cash flow.

His key insight: tech professionals need diversification beyond company stock and market exposure.

Learn more about Lone Star Capital at www.lscre.com

Apply to attend the LSC Summit 2025: www.lscsummit.com

Get a FREE copy of the Passive Investor Guide:
https://www.lscre.com/content/passive-investor-guide

Subscribe to our newsletter and receive our FREE underwriting model package:
https://www.lscre.com/resource/fof-underwriting-toolkit

Follow Rob Beardsley:
https://www.linkedin.com/in/rob-beardsley/

Read Rob’s articles:
https://www.lscre.com/blog 

In this episode, Craig McGrouther sits down with Joey Mure from Wealth Without Wall Street, who shares his transformation from earning $300K+ in the mortgage business to building $50K/month in passive income. Joey reveals why traditional financial advice kept him trapped in the "never enough syndrome" despite high earnings, and how a beach vacation where he missed family time for work calls became his wake-up call.

He challenges conventional wisdom by explaining why 401(k)s and home equity are "money traps" that don't create financial freedom today. His formula for freedom: passive income must exceed monthly expenses TODAY, not in 40 years. This is a masterclass in rethinking wealth building from someone who learned the hard way that high income doesn't equal freedom.

Learn more about Lone Star Capital at www.lscre.com

Apply to attend the LSC Summit 2025: www.lscsummit.com

Get a FREE copy of the Passive Investor Guide:
https://www.lscre.com/content/passive-investor-guide

Subscribe to our newsletter and receive our FREE underwriting model package:
https://www.lscre.com/resource/fof-underwriting-toolkit

Follow Rob Beardsley:
https://www.linkedin.com/in/rob-beardsley/

Read Rob’s articles:
https://www.lscre.com/blog 

In this episode, Craig McGrouther and I discuss the upcoming Lone Star Capital Summit and why this curated event stands apart from typical real estate conferences.

We then shift to market analysis, discussing why Class C properties and 1970s vintage assets are facing extreme pessimism, creating potential contrarian opportunities where capital isn't flowing.We also touch on the dramatic market reaction to weak jobs data on August 1st, which flipped the probability of a September Fed rate cut from 50% to 80% in a single day.

Apply to attend the LSC Summit 2025:
www.lscsummit.com

Download our FREE Passive Investor Guide:
https://www.lscre.com/content/passive-investor-guide

Subscribe to our newsletter and get the FREE Underwriting Toolkit:
https://www.lscre.com/resource/fof-underwriting-toolkit

Learn more about Lone Star Capital:
www.lscre.com

Follow me on LinkedIn:
https://www.linkedin.com/in/rob-beardsley

Read my latest articles:
https://www.lscre.com/blog 

In this episode, Craig McGrouther sits down with Derek Dombeck, host of Generations of Wealth podcast and veteran real estate entrepreneur with 23 years of experience. Derek shares his story of losing everything in the 2007-2009 crash. Instead of playing victim, he learned to negotiate his own short sales and transformed his approach to real estate, swearing off institutional financing in favor of creative deal structuring.

Derek breaks down recent deals including a subject-to purchase at 3.15% interest with seller financing at 0%, and explains how he structures participating notes with IRA investors to create win-win scenarios. His philosophy: "You don't find creative deals, you build them through conversations." This is a masterclass in resilience and creative financing from someone who turned disaster into opportunity.

Learn more about Lone Star Capital at www.lscre.com

Apply to attend the LSC Summit 2025: www.lscsummit.com

Get a FREE copy of the Passive Investor Guide:
https://www.lscre.com/content/passive-investor-guide

Subscribe to our newsletter and receive our FREE underwriting model package:
https://www.lscre.com/resource/fof-underwriting-toolkit

Follow Rob Beardsley:
https://www.linkedin.com/in/rob-beardsley/

Read Rob’s articles:
https://www.lscre.com/blog 

In this episode, Craig McGrouther, Sam Morris and I break down Trump's "Big Beautiful Bill" and its massive implications for real estate investors. The return of 100% bonus depreciation is a game-changer, allowing investors to front-load tax benefits in year one of ownership. We discuss how wage growth has outpaced rent growth for 31 consecutive months (per Jay Parsons), creating a healthier rent-to-income ratio and setting up potential for future rent increases as new supply dwindles.

We also address recent Houston foreclosure headlines, explaining how their focus on workforce housing in desirable locations differs fundamentally from distressed investment strategies. Key tax updates include no tax on tips (first $25K), overtime tax deductions, increased standard deductions, and permanent QBI benefits. For investors, these changes make cash-flowing real estate even more compelling versus taxable debt investments.

Apply to attend the LSC Summit 2025:
www.lscsummit.com

Download our FREE Passive Investor Guide:
https://www.lscre.com/content/passive-investor-guide

Subscribe to our newsletter and get the FREE Underwriting Toolkit:
https://www.lscre.com/resource/fof-underwriting-toolkit

Learn more about Lone Star Capital:
www.lscre.com

Follow me on LinkedIn:
https://www.linkedin.com/in/rob-beardsley

Read my latest articles:
https://www.lscre.com/blog 

In this episode of Fund Friday, Craig McGrouther sits down with David Thompson, founder of Thompson Investing, who shares his journey from corporate executive to full-time real estate investor and capital raiser. David reveals how he pivoted into real estate syndication, what he learned from investing across economic cycles, and why diversification is critical in today’s environment.

He discusses timing the market, the role of alternative investments like dental funds, and the importance of building strong relationships with operators. You’ll also learn why patience, education, and long-term thinking are key to navigating real estate and private investments especially in uncertain times.

Learn more about Lone Star Capital at www.lscre.com

Apply to attend the LSC Summit 2025: www.lscsummit.com

Get a FREE copy of the Passive Investor Guide:
https://www.lscre.com/content/passive-investor-guide

Subscribe to our newsletter and receive our FREE underwriting model package:
https://www.lscre.com/resource/fof-underwriting-toolkit

Follow Rob Beardsley:
https://www.linkedin.com/in/rob-beardsley/

Read Rob’s articles:
https://www.lscre.com/blog 

In this episode, Craig and I tackle the controversial topic of promote structures and fund manager compensation. We break down the double waterfall structure for fund managers and why projected compensation is never guaranteed.

I share the framework for evaluating deal quality across four key factors: location, vintage, leverage, and business plan. We explain why chasing deals with sky-high projected returns often leads to disappointed fund managers earning zero when aggressive underwriting meets reality. We also emphasize that sustainable success comes from serving tenants and investors first, not chasing the highest projected compensation.

Apply to attend the LSC Summit 2025:
www.lscsummit.com

Download our FREE Passive Investor Guide:
https://www.lscre.com/content/passive-investor-guide

Subscribe to our newsletter and get the FREE Underwriting Toolkit:
https://www.lscre.com/resource/fof-underwriting-toolkit

Learn more about Lone Star Capital:
www.lscre.com

Follow me on LinkedIn:
https://www.linkedin.com/in/rob-beardsley

Read my latest articles:
https://www.lscre.com/blog

In this episode, Craig McGrouther sits down with Hannah Wyatt, Lone Star Capital's Director of HR, who shares her remarkable journey from Executive Assistant to building our HR infrastructure. Hannah reveals how she absorbed HR operations when they brought everything in-house, creating systems that now support over 5,000 units across our portfolio.

She breaks down their innovative hiring pipeline using AI-powered resume screening and Culture Index personality assessments to match candidates with the right roles. Hannah explains their unique position structure, including the Community Relations Representative role they created for highly sociable candidates who might not fit traditional property management positions.

Her philosophy: "You're not just completing tasks, you're building solutions" that impact everyone in the organization.

Learn more about Lone Star Capital at www.lscre.com

Apply to attend the LSC Summit 2025: www.lscsummit.com

Get a FREE copy of the Passive Investor Guide:
https://www.lscre.com/content/passive-investor-guide

Subscribe to our newsletter and receive our FREE underwriting model package:
https://www.lscre.com/resource/fof-underwriting-toolkit

Follow Rob Beardsley:
https://www.linkedin.com/in/rob-beardsley/

Read Rob’s articles:
https://www.lscre.com/blog 

In this episode of Fund Friday, Craig McGrouther interviews Sarah Miskelly, founder of Hylee Capital, who shares her inspiring journey from growing up in multifamily property management in Toronto to becoming a location-independent fund manager living between Costa Rica and Canada.

Sarah reveals how real estate created lifestyle freedom for her family and why she pivoted from being a top-producing real estate broker to launching her own investment fund. She explains the disciplined due diligence process she uses today to vet institutional-grade deals and protect investor capital.

You’ll learn:

• Why DSCR at 1.0 is a red flag
• How she evaluates cap rate assumptions for risk
• The power of private credit and diversification across multifamily, triple-net, and energy assets
• How she built sustainable income beyond back-end equity
• Candid advice for aspiring fund managers and capital raisers

If you're raising capital, evaluating deals, or designing a lifestyle around real estate investing, this episode is packed with actionable insight.

Learn more about Lone Star Capital at www.lscre.com

Apply to attend the LSC Summit 2025: www.lscsummit.com

Get a FREE copy of the Passive Investor Guide:
https://www.lscre.com/content/passive-investor-guide

Subscribe to our newsletter and receive our FREE underwriting model package:
https://www.lscre.com/resource/fof-underwriting-toolkit

Follow Rob Beardsley:
https://www.linkedin.com/in/rob-beardsley/

Read Rob’s articles:
https://www.lscre.com/blog

In this milestone 100th episode, Craig McGrouther and I share an incredible news: Preserve at Copperleaf, a 240-unit, 2003-vintage apartment community Lone Star Capital acquired in May 2024, just closed on a hugely successful 45% cash out refinance! We acquired this property for $34M and it appraised at $53.7M, allowing investors to receive 45% of their investment back while the remaining equity continues earning 8% cash flow.

We break down how we achieved this through strategic timing, tax exemptions, and securing a 7-year full-term interest-only Freddie Mac loan at 65% LTV. We also dive deep into our unique anniversary-based budgeting system that keeps us accountable year-round rather than scrambling during "budget season," plus how our operations team earns bonuses based on actual performance versus budget across revenue, R&M, payroll, and expenses.

Apply to attend the LSC Summit 2025:
www.lscsummit.com

Download our FREE Passive Investor Guide:
https://www.lscre.com/content/passive-investor-guide

Subscribe to our newsletter and get the FREE Underwriting Toolkit:
https://www.lscre.com/resource/fof-underwriting-toolkit

Learn more about Lone Star Capital:
www.lscre.com

Follow me on LinkedIn:
https://www.linkedin.com/in/rob-beardsley

Read my latest articles:
https://www.lscre.com/blog 

In this episode, Craig McGrouther sits down with Scott Croul of George Smith Partners to discuss navigating the longest multifamily downturn in recent memory at 36 months and counting. Scott breaks down the current capital stack dynamics, revealing that preferred equity is now pricing at 12-14% with roughly 50% current pay, making it surprisingly competitive for sponsors.

They dive into why bridge-to-bridge financing went from "bad word" to standard practice, and how sponsors are focusing on capital preservation rather than chasing returns. Scott also highlights the market bifurcation: institutional investors are flooding into 2000+ vintage properties with all-cash offers while pre-90s assets struggle to find any buyers. Despite the challenges, Scott sees light at the end of the tunnel with supply chains frozen and absorption remaining strong across major Texas markets.

Learn more about Lone Star Capital at www.lscre.com

Apply to attend the LSC Summit 2025: www.lscsummit.com

Get a FREE copy of the Passive Investor Guide:
https://www.lscre.com/content/passive-investor-guide

Subscribe to our newsletter and receive our FREE underwriting model package:
https://www.lscre.com/resource/fof-underwriting-toolkit

Follow Rob Beardsley:
https://www.linkedin.com/in/rob-beardsley/

Read Rob’s articles:
https://www.lscre.com/blog 

In this Fund Friday episode, Craig McGrouther welcomes Pascal Wagner, founder of Grow Your Cashflow. Pascal shares his journey from managing a $150M venture capital fund at Techstars to becoming an LP investor with $250K+ in annual passive income across 23 investments. He reveals how his Venture Capital background shaped his investment thesis approach and why he shifted focus to debt funds in 2022, perfect timing to avoid the multifamily distress.

Pascal breaks down his three pillar framework for LP success: having a clear investment plan, comparing deals with proper context not in isolation, and mastering due diligence with his 100 point checklist. Plus, he explains the "money pie" concept, how to balance investments between cash flow, equity growth, and tax benefits to build sustainable six figure passive income.

Learn more about Lone Star Capital at www.lscre.com

Apply to attend the LSC Summit 2025: www.lscsummit.com

Get a FREE copy of the Passive Investor Guide:
https://www.lscre.com/content/passive-investor-guide

Subscribe to our newsletter and receive our FREE underwriting model package:
https://www.lscre.com/resource/fof-underwriting-toolkit

Follow Rob Beardsley:
https://www.linkedin.com/in/rob-beardsley/

Read Rob’s articles:
https://www.lscre.com/blog 

In this episode, Craig McGrouther sits down with Sawyer Zimmerman from our asset management team to discuss what really drives property performance in today's challenging market. Sawyer manages over 2,000 units across our portfolio and shares how we've revolutionized our hiring process using Culture Index assessments to find the right talent for each role.

We dive into why curb appeal and maintenance teams are critical for resident retention, how our new community admin onboarding program reduces turnover, and why renewals (not new leases) are where you actually make money in multifamily. Sawyer also reveals how proper staffing can be more cost-effective than vendoring out services, and why having people "act like owners" makes all the difference in property performance.

Learn more about Lone Star Capital at www.lscre.com

Apply to attend the LSC Summit 2025: www.lscsummit.com

Get a FREE copy of the Passive Investor Guide:
https://www.lscre.com/content/passive-investor-guide

Subscribe to our newsletter and receive our FREE underwriting model package:
https://www.lscre.com/resource/fof-underwriting-toolkit

Follow Rob Beardsley:
https://www.linkedin.com/in/rob-beardsley/

Read Rob’s articles:
https://www.lscre.com/blog

In this episode, Craig McGrouther is joined by Dasha Beardsley, Director of Investor Relations at Lone Star Capital, and Brandon Claisse from Tribevest, to walk through exactly how fund managers and capital allocators can raise capital alongside Lone Star through our fund-to-fund program.

This episode is specifically for capital allocators and fund managers looking to raise $500K+ for our deals. We walk through the entire process from initial deal notification to fund creation in just 5-7 business days, including entity formation, bank accounts, offering docs, and ongoing administration costs.

Dasha shares what marketing materials and support Lone Star provides, while Brandon details TriVest's streamlined "SPV in a box" solution that handles all the back-office work so you can focus on raising capital.

Plus, congratulations to Dasha on completing her new book "Maximizing Wealth Through Syndicated 1031 Exchanges" available at maximizing1031.com!

Learn more about Lone Star Capital at www.lscre.com

Apply to attend the LSC Summit 2025: www.lscsummit.com

Get a FREE copy of the Passive Investor Guide:
https://www.lscre.com/content/passive-investor-guide

Subscribe to our newsletter and receive our FREE underwriting model package:
https://www.lscre.com/resource/fof-underwriting-toolkit

Follow Rob Beardsley:
https://www.linkedin.com/in/rob-beardsley/

Read Rob’s articles:
https://www.lscre.com/blog

In this episode, Craig McGrouther sits down with Ellis Hammond, VP of Capital at Aspen Funds, fresh off our co-hosted mastermind in Austin. Ellis shares his unconventional journey from college pastor to raising $250M+ in equity and reveals why Aspen's oil and gas fund raised $60M in just 60 days while their industrial fund struggles at $4M.

His key insight for fund managers: "The lifeblood of your business is 100% correlated to the cash flow you generate" - which is why smart sponsors are adding private credit funds paying 10-12% to create recurring revenue while building long-term wealth.

Learn more about Lone Star Capital at www.lscre.com

Apply to attend the LSC Summit 2025: www.lscsummit.com

Get a FREE copy of the Passive Investor Guide:
https://www.lscre.com/content/passive-investor-guide

Subscribe to our newsletter and receive our FREE underwriting model package:
https://www.lscre.com/resource/fof-underwriting-toolkit

Follow Rob Beardsley:
https://www.linkedin.com/in/rob-beardsley/

Read Rob’s articles:
https://www.lscre.com/blog

In this episode of the Lone Star Capital podcast, Craig McGrouther and I sit down with Sam Morris to discuss the significant positive shifts happening in the multifamily market after three challenging years.

We reveal how our property insurance costs just dropped 32% at renewal, potentially adding millions in property value and increasing investor distributions by nearly 1%. We share exciting success stories from our portfolio, including record-breaking collections at multiple properties and Preserve at Copperleaf achieving an incredible 234 paid-up units out of 238 possible.

Our conversation also explores why deal flow remains challenging in 2025 despite these improving fundamentals, with San Antonio seeing only six transactions in Q1 with an average property vintage of 1972, highlighting the persistent bid-ask spread gap in the market.

Apply to attend the LSC Summit 2025:
www.lscsummit.com

Download our FREE Passive Investor Guide:
https://www.lscre.com/content/passive-investor-guide

Subscribe to our newsletter and get the FREE Underwriting Toolkit:
https://www.lscre.com/resource/fof-underwriting-toolkit

Learn more about Lone Star Capital:
www.lscre.com

Follow me on LinkedIn:
https://www.linkedin.com/in/rob-beardsley

Read my latest articles:
https://www.lscre.com/blog

In this episode of the Fund Friday podcast, hosts Craig McGrouther and Joe Pistorius dive into the critical role of asset management in multifamily. Joe shares insights from managing over 2,500 units across 11 properties, revealing how different property vintages require different levels of care and why having the right on-site teams can make or break a property's performance.

The conversation explores innovative approaches to team structure, including creating separate career tracks for sales-focused leasing agents versus operations-focused managers, and how Lone Star's unique "paid-up unit" bonus structure drives both collections and retention. They also discusses how LSC is leveraging social media platforms like TikTok for leasing, moving beyond traditional apartment listing sites to meet the next generation of renters where they are.

Apply to attend the LSC Summit 2025:
www.lscsummit.com

Download our FREE Passive Investor Guide:
https://www.lscre.com/content/passive-investor-guide

Subscribe to our newsletter and get the FREE Underwriting Toolkit:
https://www.lscre.com/resource/fof-underwriting-toolkit

Learn more about Lone Star Capital:
www.lscre.com

Follow me on LinkedIn:
https://www.linkedin.com/in/rob-beardsley

Read my latest articles:
https://www.lscre.com/blog 

In this episode of the Lone Star Capital podcast, Craig McGrouther and I sit down with Sam Morris, Partner at Lone Star Capital to discuss the impact of Texas HB21 on property tax exemptions and affordable housing deals. We explore how this new law eliminates "traveling HFC" tax exemptions by 2027 without grandfather clauses, potentially devastating many operators who relied on these structures.

The conversation reveals why operators used out-of-jurisdiction housing authorities as lifelines during tough market conditions, what options remain for affected properties, and how Lone Star Capital's strategy of working exclusively with local jurisdictions protects our 13 tax-exempt properties from impact. Sam also shares insights from his recent NYC office visit, highlighting our team's strength and culture.

Apply to attend the LSC Summit 2025:
www.lscsummit.com

Download our FREE Passive Investor Guide:
https://www.lscre.com/content/passive-investor-guide

Subscribe to our newsletter and get the FREE Underwriting Toolkit:
https://www.lscre.com/resource/fof-underwriting-toolkit

Learn more about Lone Star Capital:
www.lscre.com

Follow me on LinkedIn:
https://www.linkedin.com/in/rob-beardsley

Read my latest articles:
https://www.lscre.com/blog 

In this episode of the Fund Friday, Craig McGrouther and Sam Morris outline what it really takes to raise capital consistently in today's market. They break down the exact system that helped close over $100 million in equity, including how they build trust, set expectations, and stay committed to investor relationships for the long haul. This isn’t about flashy pitches — it’s about clear communication, repeatability, and long-term partnership.

Learn more about Lone Star Capital at www.lscre.com

Apply to attend the LSC Summit 2025: www.lscsummit.com

Get a FREE copy of the Passive Investor Guide:
https://www.lscre.com/content/passive-investor-guide

Subscribe to our newsletter and receive our FREE underwriting model package:
https://www.lscre.com/resource/fof-underwriting-toolkit

Follow Rob Beardsley:
https://www.linkedin.com/in/rob-beardsley/

Read Rob’s articles:
https://www.lscre.com/blog 

In this episode of the Lone Star Capital Podcast, Craig McGrouther and I dive into what’s really happening in the Austin multifamily market and why investors shouldn’t be scared off by the headlines.

We break down how recent pressure from tech layoffs and new development is creating pricing dislocation and why that could mean opportunity for long-term buyers. Drawing from what we’ve seen in other post-correction markets like San Francisco and New York, we discuss why Austin's strong fundamentals and job growth could make now a smart entry point.

If you’re serious about understanding the real story behind the numbers, this conversation is worth your time.

Apply to attend the LSC Summit 2025:
www.lscsummit.com

Download our FREE Passive Investor Guide:
https://www.lscre.com/content/passive-investor-guide

Subscribe to our newsletter and get the FREE Underwriting Toolkit:
https://www.lscre.com/resource/fof-underwriting-toolkit

Learn more about Lone Star Capital:
www.lscre.com

Follow me on LinkedIn:
https://www.linkedin.com/in/rob-beardsley

Read my latest articles:
https://www.lscre.com/blog

In this Fund Friday episode, Craig McGrouther interviews Dasha Beardsley, Director of Investor Relations at Lone Star Capital and now author of Maximizing Wealth through Syndicated 1031 Exchanges. They dive into how passive investors can use 1031 exchanges to defer taxes, scale into larger deals, and preserve wealth across generations.

Dasha shares why many experienced real estate investors still don’t know they can 1031 into syndications — and how Lone Star’s structure makes this accessible and efficient. They also highlight key differences between syndicated exchanges and DSTs, the legal process behind a successful exchange, and what sets Lone Star apart as a long-term partner for rolling equity.

Plus, hear how this year’s LSC Summit is evolving to provide an even more curated, high-value networking experience for serious investors and sponsors alike.

Check it out now at Maximizing1031.com to learn more.

Learn more about Lone Star Capital at www.lscre.com.

Apply to attend the LSC Summit 2025: www.lscsummit.com

Get a FREE copy of the Passive Investor Guide:
https://www.lscre.com/content/passive-investor-guide

Subscribe to our newsletter and receive our FREE underwriting model package:
https://www.lscre.com/resource/fof-underwriting-toolkit

Follow Rob Beardsley:
https://www.linkedin.com/in/rob-beardsley/

Read Rob’s articles:
https://www.lscre.com/blog

In this episode of the Lone Star Capital Podcast, Craig McGrouther and I dive into one of the most powerful tools in real estate investing: bonus depreciation.

With talk of 100% bonus depreciation returning in 2025, Rob breaks down what that could mean for investors — from maximizing early-year tax advantages to how it directly impacts capital raising, deal competitiveness, and after-tax returns. They explore the impact for both everyday passive investors and those electing real estate professional status, and how strategic use of depreciation and 1031 exchanges can dramatically shift a portfolio’s long-term outcome.

Plus, they compare debt fund structures vs. multifamily equity returns and explain why what looks good on the surface might not deliver when you factor in real after-tax results.

Apply to attend the LSC Summit 2025:
www.lscsummit.com

Download our FREE Passive Investor Guide:
https://www.lscre.com/content/passive-investor-guide

Subscribe to our newsletter and get the FREE Underwriting Toolkit:
https://www.lscre.com/resource/fof-underwriting-toolkit