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We do believe that investing in private real estate poses less risk than many other types of investments. Private real estate has historically been less volatile than the stock market, and properties generally appreciate over time as inflation tends to push rents up. Additionally, we conduct extensive research and due diligence on every property investment and have a high degree of conviction that our risk is balanced with our targeted returns. Grant himself is our single-largest investor across our entire portfolio, so he personally believes in the potential return of each of our investments. And during Grant’s real estate career, which spans more than three decades, he has never lost his money with a multifamily real estate investment.