If you have a direct contact with somebody that works as an extension of the Rise48 team and you have any additional questions, whether that be here, you know, live in the presentation or otherwise, please do feel free to reach out to your investment liaison as well.

Perfect.

Thank you for that.

So yeah, with that, let's jump into it.

So, I don't know about everybody on the call, but if you've ever opened a deal summary from an operator and felt your eyes glaze over, you're not alone.

I definitely have been there.

I, like Jeremy said, jumped into this space, just, hey, that was a shiny object, let me go after it.

Yes.

Yeah

... that hits it.

But a lot of people are, are professionals with a higher net worth that are looking to diversify but like their W-2, so they don't wanna sacrifice more of their time on the weekends and so forth.

That's who I see.

But this could be doctors and lawyers.

This could be an HVAC owner.

You know, this could be a teacher.

What do, what do you tell those kind of people, or what do you suggest to them?

Chad, apologize me

...

I'm, yes.

I, I would love to tell you.

Y- at the same time I hear all that positive- You, it, for multifamily specifically, it seems like we've been waiting for the 20, you know, 2009, 2010 kind of mode of where things started going, uh, belly up, deals were falling through, banks were taking over properties, and then operators were able to go in and get a heck of a deal on a distressed property, financially distressed property, and turn it into the next big deal.

I, I believe there is a time that that will occur.

I, I don't, I just, every time I feel like we're heading into that next realm of this should be the next few months of seeing those things, it seems like some, somehow these operators are maintaining their loans that they have in place that felt like they were gonna be variable rate loans that were gonna get caught in balloon payments that they couldn't refi, and they were gonna get foreclosed on.

Like, I, I feel like that's a really underutilized toolkit for people.

You know? Like, it makes me crazy.

crazy.Mm-hmm.

Uh, yeah, I would agree.

It, I d- I don't know if it's still as abused today.

I think when I started investing was 2018, and that was a very hot market, and I think it was easier for LPs to do that then because operators could miss almost because of the economy, because of the market driving the results, not good operating.

And then the gut check came with COVID, and then the interest rate change and insurance change, that the LP needed to recalibrate.

I say this often.

And how does that fit in the context with the work that you do?