JF 3857: Structuring Smart Syndications, Vetting Operators, and Going Active Ft. Bethany LeFlam

The Best Ever CRE Show

Best Ever CRE

Realestatepodcast, Entrepreneurship, Business, Realestate, Investing, Realestateinvesting, Realestateinvestingpodcast

4.8 • 983 Ratings

🗓️ 27 March 2025

⏱️ 64 minutes

🔗️ Recording | iTunes | RSS

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Summary

On this episode of the Best Ever CRE Show, Pascal Wagner interviews Bethany LeFlam, a seasoned SEC attorney who has structured thousands of real estate syndications. They dive deep into LP protections, red flags in PPMs, and what Bethany looks for before investing passively herself. She shares how she transitioned from legal advisor to active hotel investor, what makes boutique hotels attractive, and why operators’ communication styles reveal more than any pitch deck. Bethany also explains the legal implications of capital raising, share class structures, and her stance on whether GPs should invest their own capital in deals. Bethany LaFlam SEC Attorney Based in Irvine, CA Say hi to them at Premier Law Group Bethany LaFlam https://www.instagram.com/bethany_laflam/?hl=en Sponsors: Vintage Capital Capital Gains Tax Solutions Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This episode is brought to you by Vanta.
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0:22.2	help your team stay compliant.
0:24.2	Head to vanta.com slash Spotify to learn more.
0:28.2	Certain about the legal side of syndications or wondered if you're truly protected as an LP.
0:34.8	In this episode of the Passive Income playbook on the best ever CRE show,
0:38.8	we're breaking it all down with insider insights from a top syndication attorney. I'm your host,
0:44.8	Pascal Wagner, and today we're joined by Bethany LaFlam, a leading SEC attorney who's helped
0:50.2	countless syndicators structure their funds. Bethany has been behind the scenes on deals that have raised millions of dollars.
0:58.3	Yet, interestingly, she hasn't personally invested in commercial real estate syndications.
1:03.7	So we're going to find out a little bit more about why.
1:05.8	But if you ever wondered where LPs get trapped in legal terms, what protections actually hold up when deals
1:11.5	go sideways, and how to read between the lines and offering documents, this episode will be for
1:17.3	you. Welcome to the show, Bethany. Thank you. Thank you. Good to be here. Yeah. Anything,
1:23.7	anything I missed here. You've been in the syndication world for at least seven years,
1:30.0	maybe even a decade. Eight years on the real estate side. Yeah. Yeah. How do, why do you think,
1:36.8	I find it fascinating that you help GP structure deals, but don't, haven't participated in any.
1:43.6	Tell us why. I have. I have. Okay. Yeah. So I'm
	...

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