Hello, ready, it's Jake Stenzano, I host, a multi-family mentor, the coach of Chef, the

father, six, the best-selling author, the G-Dady.

Gino Barber, Gene, how's it going?

Mr. Stenziano, I'm doing very well this morning. How you doing, brother? Always making it happen, big man. Gino, I got to tell you, I think we have a good talk today. What say you? Well, I've had a good pre-talk, so I don't see why it wouldn't spill over into this conversation.

We've had a 15-minute podcast with Gino don't see why I wouldn't spill over into this conversation.

We've had a 15-minute podcast with Gino Ranting here, so we're going to bring it. But we have very special guest today. Today's guest is a real estate investor syndicator and founder of Align Real Estate Partners. He specialized in acquiring and operating value add multifamily properties with a focus on discipline underwriting, operational

excellence, and long-term wealth creation. So without further ado, Axel Ragnerson, welcome the show.

Appreciate you guys having me. I'm looking forward to it. Hey, the pleasure is all ours. So Gino sends

me this post yesterday and it says that real estate has shifted away from syndicators to institutions due to transparency

like CREXE and CoStar and all the data that's out there. The author said the edge is gone.

What say you? Is this hype or reality?

That's an interesting question. I mean, I think maybe my knee-jerk reaction to that is I think that the legacy edge,

if we're going to use the word edge, that institutions had or really long-term sophisticated

investors had over smaller, call it local folks with less experience, less data to work with,

is shrinking because of the wider availability of said data, right? I think there was a long

period of time where, and you know, for my frame of reference, I've been in this since 2015,

so a little over 10 years. So, you know, not forever. But even since 2015, 2018, 20, like getting

into the early 2020s, it was much harder for the smaller investor with, you know, 40, 50 units in a town

who maybe as a property management company maybe manages themselves to have to acquire the

same level of data and then downstream from that to make the same types of decisions that

the person who had a thousand units in that same market, right? The person who has a thousand units, they got all the information from, in terms of what rents

they're getting, in terms of what their operating expenses are, in terms of what's going on,

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