When it comes to real estate investing, one question consistently stands out: how do some investors manage to raise millions in private money while others struggle to secure even a single dollar? The answer goes far beyond spreadsheets and pitch decks. It’s rooted in trust, alignment, and the mindset that attracts capital.
On the latest episode of Raising Private Money, Jay Conner hosts Dave Lundgren, an accomplished real estate investor and educator with over $20 million raised in private capital. Together, they dive deep into syndications, bond equity alternatives, and how real financial independence is achieved—without relying on hype or shortcuts.
Understanding Private Money, Syndication, and Bond Equity Alternatives
The world of real estate funding is vast. Traditional private money involves relational, one-on-one transactions—often with local connections, where trust and personal alignment play key roles. Syndications, on the other hand, include pooling capital from multiple investors into a more formal legal structure, often for larger commercial and multifamily projects. This setup typically uses general partners to steer the deal, while limited partners contribute funds in exchange for a share of the returns.
Enter the bond equity alternative, a lesser-known but potentially game-changing approach. For large-scale projects, generally $50 million and above, a Wall Street-level bond company might underwrite and finance 100% of the project’s cost. This can mean fewer compliance headaches and a simplified capital stack, as all the money comes from one entity rather than dozens of private investors. While this opportunity isn’t fit for every deal—due diligence can be significant, with requirements like shovel-ready projects and a five-year maximum term—for the right situation, it flips the conventional syndication model and allows sponsors to retain more equity.
Matching Investments to Individual Needs
Dave Lundgren emphasizes that there is no one-size-fits-all solution when it comes to real estate investments. The right solution depends on each investor’s unique circumstances—where they are in their career, their risk tolerance, and their financial objectives. A personal, diagnostic approach ensures that the investment matches the investor’s goals, whether they’re seeking aggressive growth or steady, secure returns.
Servant leadership is vital. Instead of pushing everyone into a single deal type, asking about their interests and objectives builds trust. Investors feel valued when their specific needs are considered, which not only helps to attract capital but also creates long-term partnerships.
Boosting Builder Profits and Avoiding Common Mistakes
Innovation is another major theme in Dave Lundgren's approach. One way builders can dramatically increase profits is through steel framing, which has proven to be cheaper, stronger, and more efficient than traditional materials. This method can reduce build times, lower insurance costs, and minimize waste—doubling margins in some cases. For affordable housing, these advantages are particularly critical.
Timestamps:
00:01 Private Capital and Syndications Explained
04:23 Personalized Investment Strategies
07:32 Bond Financing for Large Projects
13:30 Real Estate, Mining, Steel Framing
15:22 Doubling Builder Profits with Steel
19:49 Real Estate Strategy: Multiple Exits
22:08 Spiritual Growth Through Financial Empowerment
26:07 Real Estate Success Requires Mentorship
28:19 Connect with Dave Lundgren
https://www.Dave-Lundgren.com
29:06 Raising Private Money Insights
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Jay Conner is a proven real estate investment leader. He maximizes creative methods to buy and sell properties with profits averaging $67,000 per deal without using his money or credit.
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