Hey, dealmakers, welcome to the show where it's all about financial freedom. Let's do this.

All right, today on the show, we're talking capital raising, one of our favorite topics.

And on our guest today, it's Bronson Hill. Bronson has raised over $50 million over the last

several years.

We used to work together Nighthawk for a little bit, and he's really done a great job in marketing and capital raising, selecting operators, that kind of stuff.

Now, like everybody else, we've had our share of disappointments and losses over the years.

And we talk about it candidly on the show. We also talk about what's changed. What is investor psychology right now? And how do you deal with, how do you have conversations with LPs in this kind of environment? And what's Bronson's outlook here for the next year or two as well? So let's get right into it here with Bronson Hill. Bronson, welcome to the show today.

Hey, Michael, excited to be here. Always good to see you, my friend. And I'm excited to have a good chat today. Yeah, so, you know, last time you're on, you laid out, this was in 2024, or early in 24, we really talked about raising capital in, you know, I would say in a not a hot market, but certainly a hotter market, you know, coming off of 23, you know, things started to shift already a little bit, I think.

I thought it was like the early stages of, of the market shifting as well. But like just fundamentally, what do you think, what do you think has changed in the market

in general and maybe in the investors' eyes?

Well, I think there's a few things that have changed. I think, you know, in 2020,

2019, 2020, especially 2020, there was a lot of money floating around. You had the, if you're a

business owner, you had the PPP, you had the EIDL. These were free-eavable loans that

potentially just people had money. So what they were doing is they were getting these loans paying their workers during COVID with this money. And then they were using the money they're making their business to go invest in all kinds of things. So we saw it just happened all over. And so what happened is this money obviously dried up. We've also had some challenges, right? We had some challenges in commercial real estate, you know, with rates rising faster than they have in over 40 years so that hit a lot of people uh kind of on their back foot of like us included just oh we weren't expecting that and so and then we're seeing a lot of uncertainty in the world right so those kind of three things are the uncertainties around iran the war gas prices a lot of things so when you know when people are are afraid they tend to be like i'm not going to anything. I'm just going to wait or look for different types of things. So I think those have been a few factors that have really had a significant impact. Yeah, let's talk about a little bit, but I mean, you, what kind of asset classes? What have you raised for? I know multifamily for sure, but it's not, you haven't done just multifamily. Yeah, so I've raised about 55 million total from for different assets. We've done about half of that's been multifamily. We've done other assets such as, you know, businesses, we've done car washes. We've done, uh, we're doing debt funds now. We've done oil and gas, both land or royalties ownership as well as oil and gas and drilling. We've done development. We've done a lot of things,

but right now we're really focused on we have a first position debt fund that we're pretty excited about that pays kind of like equity was paying before, but it's a pretty safe position, kind of with the role of bonds in an investor's portfolio, but it actually is, I think, more stable and safer. And then we're doing a lot of oil and gas and other things that we find cash flow very quickly or a mobile home park fund things like that that we just see are very quick to

cash flow very quickly or a mobile home park fund, things like that, that we just see are very quick to cash flow.

Yeah, one of the things I was liked about your approach is that on the one hand, you could say you went a little broad, okay? Well, how can one know about all these asset classes? But on the other hand, there's a little bit diversification built in.

But my observation has been that I don't know what industry really crushed

the last three years, you know?

So, you know, what happened to diversification?

I mean, was there some industries that really crushed the last three years

or was really everybody really affected in a negative way?

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