Thinking about launching a real estate fund in 2025? In this episode of Fund Playbook, Jimmy Atkinson and Andy Hagans break down what it really takes to get started.
From structuring your fund the right way to crafting a clear brand story and navigating today’s capital-raising landscape, this episode is packed with insights for emerging fund managers.
Listen Now
About Fund Playbook
Learn how to launch your own private fund or real estate syndication with Fund Playbook. In each episode, Jimmy Atkinson shares insights on syndicating deals, raising capital, and entrepreneurship.
Subscribe To The Show
Episode Summary
In this live episode of Fund Playbook, Jimmy Atkinson and Andy Hagans explore how to launch a real estate fund in today’s market environment. The conversation is aimed at aspiring fund managers and capital raisers navigating 2025’s shifting regulatory landscape, higher interest rates, and tighter investor capital. Throughout the episode, Jimmy and Andy share their experience and advice, then respond to a series of live questions from the audience.
Syndication vs. Fund: Which Should You Launch?
Jimmy kicks off by explaining the fundamental difference between a real estate syndication and a real estate fund. A syndication is a one-off raise for a specific deal; a fund is a pooled vehicle raised first and deployed into multiple deals over time. Andy notes that a fund is “the next step up the ladder” for capital raisers who’ve had success with syndications and are looking to scale.
The two emphasize that launching a fund involves more complexity—especially in terms of legal work, compliance, and operations—but offers greater long-term scalability, including asset management fees, preferred returns, and promote structures.
Andy’s “Three Keys” for 2025 Fund Launches
Andy shares three essential strategies for launching a real estate fund in the current climate:
- Structure your fund correctly. Fund managers must consider updated SEC regulations, including those governing general solicitation and private fund advisers. Legal structuring in 2025 isn’t what it was in 2010, and copying a past deal may leave gaps in compliance or tax efficiency.
- Have a crystal-clear thesis and brand story. Capital raising gets easier when you know exactly who you are and what you’re offering. Andy encourages fund managers to clearly define their target audience, market niche, and brand identity from the start.
- Be flexible. Economic conditions are changing quickly. Managers should stay open to adjusting their approach—whether that means switching from a fund to a syndication (or vice versa), experimenting with different messaging, or being willing to pivot strategy to meet investor demand.
Live Audience Q&A
Jimmy and Andy address several live audience questions before wrapping up the episode:
- The difference between a fund and a syndication.
- Capital raising strategies in 2025.
- What constitutes a track record.
- The best fee structure to implement as a fund manager.
- Podcast recommendations.