Why Syndications are Actually Riskier Than Funds

That's why most people end up in funds because they're so great. They protect you so well. Syndication is actually riskier because your investors can sue you in syndications and stuff. Even if they don't like you, they're like, dude, I've got a big tax bill. Yeah. Can you sell the properties early because I got taxes to pay? In a syndication, you're like, well, I guess. Like, because they're my partner. But in a fund, dude, they can invest a billion dollars with you and they're like, can you sell early? And you say, nope, you're a limited partner. Kick rocks. And if you want to leave, yes, in our clause, you get a 50% penalty if you leave early. So, you can leave early but the assets are not ready to sell yet. We're seasoning them for a certain period. And I know you have a tax problem, I'm sorry. Yeah. But that's how funds go. And so then what that does, that protects the investors from other investors.