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Most fund operators get paid whether your money performs or not — acquisition fees, management fees, prefs that don't actually pay until years in. Drew Wiard built his fund the opposite way: zero fees, and he personally guarantees every loan, so he doesn't get paid until you do. In this episode, Drew is back for round four on why that skin-in-the-game structure is the alignment most operators won't touch, why industrial is the unsexy corner of the market nobody posts about on Instagram, and bonus depreciation that puts 20–30% of your capital back in year one.

Topics discussed:

Introduction (00:00)
Why finance-space culture is so different from real estate (03:13)
Multi-family vs. single-family — where's the downside really at? (08:15)
Why lenders are bypassing appraisals entirely (10:48)
The DSCR fraud ring lenders are still cleaning up (13:25)
Inside Drew's commercial industrial fund (16:49)
The personal-guarantee structure most operators won't touch (21:55)
Why industrial real estate isn't on Instagram (and why that's the opportunity) (25:25)
Triple net leases and how Drew adds value without flipping (30:32)
The 20–30% bonus depreciation play for high-W-2 earners (32:55)
Investment thesis discipline: make money, don't lose money (37:22)
Concentration risk and the case for taking chips off the table (46:25)


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Connect with Drew Wiard:
https://www.linkedin.com/in/drew-wiard-4b99bba3/
https://www.instagram.com/theflyinginvestor

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This episode was produced by Podcast Boutique https://www.podcastboutique.com