RandDLiving Legacy Partners

Not a curriculum. This month's numbers.

Most people teaching small multifamily stopped operating years ago, or never did. Legacy Partners is the other thing: an operating company that opens its books, its spreadsheets and its mistakes to the people coming up behind it.

Who this is for

Four kinds of people.

Rick and Danielle Alvarez — **The point of the assets**Not the buildings. The buildings are the machine.

Danielle and Rick Alvarez — **Danielle & Rick Alvarez**Legacy Partners is the two of us. You get the operators, not a coaching staff.

Rick Alvarez, US Army Field Artillery — **Field Artillery**The planning discipline transfers. The vocabulary doesn't. That gap is most of what we teach veterans.

Owners who self-manage. You have four to fifty units and you're drowning in the operations. You don't need theory — you need turn costs, vendor structures, an eviction process that holds up, and a compliance file that survives an audit.

People buying their first building. You can read a listing but not a rent roll, and you're not sure what the broker's T12 is hiding. That's a learnable skill and it's most of the job.

Operators building a platform. You're past the first few deals and deciding whether to bring management in-house. We've made every version of that mistake.

Veterans making the transition. The planning discipline transfers better than almost anything else. The vocabulary doesn't. We'll bridge it.

What makes this different

We teach from artifacts, not slides.

Real costs

The renovation database

What materials and labor actually cost in Phoenix — built from our own turns, not from a national average.

Real process

The operating library

The standard operating procedures we run on: lead-to-lease, work orders, trust accounting, fair housing, deposits, notices, evictions.

Real diligence

Reading a seller's books

How to normalize a T12, find the expenses that were moved or omitted, and price the building on what it actually earns.

How to work with us

Two engagements, and a newsletter that costs nothing.

Underwrite my deal. Send us the building you’re looking at and we take it apart the way we take our own apart — normalize the seller’s T12, find the expenses that were moved or left out, price the turns and the deferred maintenance, rebuild the rent roll from actual leases, and stress it at zero rent growth. You get the model, the assumptions and the reasoning, not a number on a page. Flat fee, quoted before we start, and sometimes the answer is walk away.

Build my path to the first acquisition. Most people are not stuck on which building. They’re stuck on how to reach a closing table at all. We inventory what you already have — equity in a primary residence, a stale 401(k) that could become a self-directed IRA, a rental that should be exchanged instead of sold, income that will or won’t support agency debt — and lay out a sequence with the tax and financing mechanics named at each step. It’s the plan we wish someone had drawn for us in 2013.

And if you just want the reading, that’s free and always will be. Deal breakdowns, operating numbers, and the things that went sideways. If you’re a veteran transitioning out, say so in your note — that’s a conversation I’ll always make time for.

Email me the field notes

One line is enough. No spam, unsubscribe anytime.

Plainly stated

What this is not.

Legacy Partners is education and analysis. We will underwrite a building for you and help you build a plan to buy one. We are not your broker, we are not your financial adviser, and nothing we produce is investment, legal or tax advice — you close with your own agent, lender, CPA and attorney. It is also not a path into any RandDLiving or LGL Capital deal. Those are separate businesses with separate entities, and we keep them that way on purpose.

If you're looking to invest rather than to learn, that's LGL Capital — and it starts with a conversation, not a website.