Byron Kizzie and Melynda Kizzie reviewing architectural development plans, L5 Legacy Capital
Veteran-Led Private Real Estate · Texas & Louisiana

Build Your Legacy in Real Assets, Beside Two Army Veterans Who Invest First.

L5 Legacy Capital is a veteran-led real estate investment and development firm headquartered in Frisco, Texas, investing in Texas and Louisiana growth corridors. Through a single commitment to the L5 fund, we give accredited investors private access to value-add boutique hotels, workforce housing, self-storage and mixed-use real estate, with our own capital in first and investors paid first.

Our money is in every deal.
You get paid first.
About 100 deals reviewed for every two to five we take.

A private conversation with Byron Kizzie, Managing Partner. No pitch. No pressure.

Our standard: we underwrite every project in the fund to a target equity multiple of 2.0x or better.

Our record: 1.5x equity multiple, realized in under 15 months, on our Northeast Louisiana workforce housing development. See how we did it →

Single project, realized result; not representative of all L5 investments. Target returns are not guaranteed. All investments involve risk, including possible loss of principal. Past performance does not guarantee future results.

U.S. Army Veterans · 20-Yr Command
100% Co-Invested GP Capital
1.5x Realized Multiple (<15 Mos)
SEC Rule 506(c) · Accredited Only
Texas & Louisiana Corridors

Frisco, Texas Headquarters · Direct Founder Phone Access · Preferred LP Waterfalls · InvestNext Portal

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The Reality of Private Wealth

Is Your Wealth Working As Hard As You Did to Earn It?

You built a career, a clinical practice, or an operating enterprise through relentless discipline. Yet traditional financial channels are quietly diluting that accomplishment.

[ The Conventional Paper Trap ] High Drag · Low Control
  • ✕
    Max Marginal Tax Drag Every April, top earners forfeit 40%+ of hard-earned ordinary income without tangible real asset depreciation or cost segregation shields.
  • ✕
    Blind Paper Volatility Capital rides public stock market swings based on headlines, sentiment, and algorithms in products you cannot see or influence.
  • ✕
    Zero Sponsor Alignment Retail promoters and Wall Street brokers collect transactional management fees whether you win or lose, risking nothing of their own.
Result: High-effort income continually eroded by taxation and market whims.
[ The Sovereign Asset Standard ] L5 Legacy Capital
  • ✓
    Direct Physical Ownership Fractional equity in tangible, cash-flowing commercial properties — boutique hotels, essential workforce housing, and thriving corners.
  • ✓
    Forced Appreciation via NOI Asset values are driven directly by operational execution and Net Operating Income (NOI), creating predictable value independent of macro cycles.
  • ✓
    100% Co-Invested GP Alignment Two Army veterans invest personal capital first in every deal. LP preference guarantees you receive distributions before we share in profits.
That is why we built L5. Alignment in the Docs
[ Defined Pathways to Action ]

Where Would You Like to Begin?

Choose the pathway that matches your balance sheet timing and immediate diligence objectives.

Invest in private boutique hospitality and multifamily assets, L5 Legacy Capital
Accredited Only · 506(c) 01

Invest

Direct Capital Deployment

For accredited investors ready to deploy into high-conviction Texas and Louisiana value-add real estate. Direct founder access, preferred waterfall returns, and transparent InvestNext tracking.

Boutique Hotels Workforce Housing SDIRA Qualified
Learn private equity real estate due diligence, L5 Legacy Capital
Due Diligence & Tools 02

Learn

Education & Diligence

Not ready to invest today? Build your diligence foundation first. Master syndication waterfalls, understand cost segregation, and vet any sponsor using our proprietary 10-Minute LP Deal Screen.

10-Min LP Screen Executive Webinar Tax Primer
Partner with L5 Legacy Capital for family offices and advisers
Fiduciary Alliances 03

Partner

Advisers & Family Offices

For financial advisers, CPAs, estate attorneys, and family offices. Your clients are actively seeking private real asset alternatives. We offer co-hosted client education, direct GP lines, and zero referral fees, ever.

Zero Referral Fees Client Education Direct Underwriting
Legacy of Service

Service didn’t end when the uniform came off. It changed form.

L5 was built by two U.S. Army veterans who learned to plan thoroughly before moving, protect the team beside them, and finish what they start. Now that military discipline goes to work for your capital: workforce housing, revitalized properties in overlooked growth corridors, and fellow veterans building lasting family balance sheets.

Byron and Melynda Kizzie honoring U.S. Army leadership in an executive setting, L5 Legacy Capital
[ Step 1 of 5 · Meet the Operators ]

Who Is Behind Your Capital? Two Army Veterans Who Put Their Own Money In First.

You've met sponsors who talk well and risk nothing. We built L5 Legacy Capital to be the exact opposite.

L5 Legacy Capital was founded by Byron Kizzie and Melynda Kizzie, U.S. Army veterans and partners in business and in life. Our founders spent two decades leading in uniform. They started in real estate the way many military families do: a home of their own in Hawaii, then a second they rented out.

Then they built from the ground up, with hard hats on and hammers in their hands, tearing out floors and sheetrock and building houses long before they raised a dollar from anyone else. Later came build-to-rent projects in Virginia. That earned knowledge now runs community developments and commercial projects.

Underneath it all is their faith in Jesus Christ. It shapes how they lead, how they treat the people beside them and why they build: with wisdom, faith, and purpose.

[ Command Team Standard ]

“She finds the deal. He makes sure it closes.”

Clear roles, shared high standards, and a single mission: protecting investor principal and maximizing long-term returns.

What it means for you: The two people who decide whether an asset qualifies for your capital are the exact same two people whose capital is in the deal first. Direct phone access. No call centers. No junior handoffs.

Byron Kizzie

Managing Partner

20-Yr Army Veteran

Underwrites every deal, structures the capital stack, negotiates lender financing, and plans the exit strategy before acquisition.

  • ■ 20 years of active U.S. Army leadership service
  • ■ Senior defense-industry leader directing 130+ personnel
  • ■ 15+ years in private equity and real estate acquisitions ($6M+)
  • ■ Specialist in boutique hospitality & municipal partnerships

Melynda Kizzie

Co-Founder & Developer

Army Veteran · MBA, Ed.D.

Identifies overlooked off-market opportunities, establishes regional corridor strategy, and aligns municipal and community stakeholder support.

  • ■ U.S. Army Veteran with distinguished operational record
  • ■ Master of Business Administration (MBA)
  • ■ Doctorate in Organizational Leadership (Ed.D.)
  • ■ Focus on institutional community revitalizations and mixed-use impact
Founder Video Film Poster, Byron Kizzie and Melynda Kizzie
Executive Briefing: Why We Put Our Money in First 2:14
[ Founder Film ]

Hear Why Our Skin Is in Every Deal, In Our Own Words.

Watch Byron explain the exact underwriting criteria and LP waterfall preference that protects every dollar of your capital.

[ Step 1 of 5 · Alignment ]

In the Foxhole With You.

Most syndicators raise capital from afar and risk none of their own. We stand right beside you. When you invest with L5, you back two Army veterans who learned that no one gets left behind. Four non-negotiable commitments:

Founders co-investing personal capital in every real estate offering, L5 Legacy Capital
GP Equity at Risk · Skin in Every Deal I.

Our money goes in first.

Founder Co-Investment Standard

The founders commit personal balance sheet capital into every L5 offering before inviting outside investors. We never ask you to take a risk we will not take ourselves. When you win, we win. Not before.

Personal GP Capital Zero Sponsor Fluff Identical Risk Horizon
Commitment Verified: 100% of L5 Offerings
LP preferred return waterfall on commercial real estate, L5 Legacy Capital
LP Waterfall Preference · Legal Priority II.

You get paid first.

Audited PPM Preference

Written directly into our Private Placement Memorandums as an institutional preference: Limited Partners receive their preferred distribution return before L5, as General Partner, receives any performance split.

Preferred Return Distributions First No Early GP Carried Interest
Waterfall Structure: Documented in Offering PPM
Rigorous commercial deal screening and underwriting, L5 Legacy Capital
Ruthless Deal Sifting · ~100 to 2–5 III.

We say no 95 times to say yes to you.

Conservative Screening Metric

We rigorously screen ~100 potential acquisitions to select the two to five that meet our stress-tested criteria. The overwhelming majority of deals never pass our desk. That ruthless discipline is your shield.

Institutional Stress Tests Conservative Leverage Sensible Basis
Deal Filter Rate: Top 2%–5% Selected
Planned exit architecture and capital return, L5 Legacy Capital
Dual Exit Architecture · Written Before Purchase IV.

We plan the exit before we buy.

Defensive Underwriting Horizon

Every acquisition begins with a defined business plan and dual exit avenues: a capital-returning refinance-and-hold or an outright sale. Underwriting is finalized up front, so you know how we plan to leave before we arrive.

Refinance & Return Direct Institutional Sale Pre-Qualified Buyers
Exit Strategy: Dual Pathways Pre-Approved
“Whenever you invest with us, we’ll treat your money just like our money. There’s no project we’re going to do that we don’t have some money in.”

Byron Kizzie

Managing Partner, L5 Legacy Capital

Schedule an Investor Conversation

Bring your hardest questions. We’ll show you how every commitment above is drafted into the offering documents.

[ Step 2 of 5 · Inspect a Project ]

Have We Done This Before?
Here Are the Numbers.

Anyone can show you a projection. We show you a finished project: the figures, the timeline and our role. Our lead case study:

Lead Realized Case Study Texas & Louisiana Corridor

Northeast Louisiana Workforce Housing

Before: A region short on homes working families could afford.

What We Did: L5 developed residential workforce housing to meet that shortage. We pre-qualified buyers before construction began and partnered with local lenders on closing-cost assistance and favorable financing.

After: Homes sold quickly to the buyers we had lined up, and investor capital came back fast.

Realized Northeast Louisiana Workforce Housing, L5 Legacy Capital

$2,250,000

Project Value

1.5x

Equity Multiple to Investors

50%

Return on Capital (ROIC)

< 15 Mos

Investment to Capital Return

This is a single project's realized result and is not representative of all L5 investments. Target returns are not guaranteed. All investments involve risk, including possible loss of principal. Past performance does not guarantee future results.

What it means for you: the same playbook (buyers or tenants lined up early, local partners at the table, the exit planned before the first shovel) runs every L5 business plan. We'd like to do this again, with you.

Experience behind it: 15+ years in real estate development and private equity · Two decades of Army leadership · $6M+ in assets.

[ Step 3 of 5 · See How We Underwrite ]

Where Does Your Capital Go?
Where Others Overlook.

The obvious deals are crowded. Big funds chase them and bid them up. The good ones are overlooked. We buy real estate that underperforms for reasons a disciplined operator can fix, in Texas and Louisiana corridors where military installations, universities and expanding infrastructure keep demand steady. Then we make it earn more. Commercial property is valued on its income, so higher net operating income (NOI) creates value that doesn't depend on the market rising. We don’t wait for appreciation. We build it.

Boutique hospitality development, L5 Legacy Capital
Hospitality

Boutique Hospitality

Boutique and brand-affiliated hotels where repositioning, branding and professional operations can lift average daily rate and NOI. Better rooms, a stronger brand, more revenue per night.

Explore Boutique Hospitality →
Workforce and value-add multifamily residential development, L5 Legacy Capital
Multifamily

Workforce & Value-Add Multifamily

B-class and workforce apartments near military installations, universities and major employers, improved through upgrades and professional management. Housing working families need, run the way it should be.

Explore Multifamily Strategy →
Institutional self-storage facility corridor, L5 Legacy Capital
Self-Storage

Self-Storage

Self-storage facilities in growing Texas and Louisiana communities, where professional management, smarter pricing and targeted upgrades can lift occupancy and NOI. A simple asset, run with discipline.

Explore Self-Storage Strategy →
Commercial mixed-use town center corridor, L5 Legacy Capital
Mixed-Use

Commercial & Mixed-Use

Community retail and mixed-use properties in expanding infrastructure corridors, with diversified tenants and adaptive-reuse upside. The corners a growing town depends on.

Explore Commercial & Mixed-Use →
Development and adaptive reuse real estate project, L5 Legacy Capital
Development

Development & Adaptive Reuse

Ground-up projects in underserved markets, redevelopment of distressed hospitality, and infill near major institutions. Where we started: building from the ground up.

Explore Development & Adaptive Reuse →
[ The 5-Step Value Lifecycle ]
Acquire → Reposition → Optimize → Increase NOI → Exit

Every L5 business plan follows the same five steps, and the last one is written before the first.

How we create value →
[ Target Corridor Presence ]

Texas and Louisiana Growth Corridors

Including Northeast Louisiana and the Huntsville and Longview areas of Texas. Markets we know on the ground, not from a spreadsheet.

Explore our markets →
[ Step 3 Underwriting Gates ]

How Does a Deal Earn Your Capital?

Every project clears the same five gates before the fund puts a single dollar into it:

01

Selection

About 100 deals reviewed for every two to five we pursue. Most fail on location, basis or a plan we can't control.

02

Underwriting

Conservative assumptions, stress-tested for lower rates, slower lease-up and higher costs. If a deal only works when everything goes right, it doesn't work.

03

The 2.0x Standard

We underwrite every project in the fund to a target equity multiple of 2.0x or better. If a project can't clear that bar, it doesn't go in the fund.

Target returns are not guaranteed. Past performance does not guarantee future results.

04

The Exit, First

A refinance-and-hold path and a sale path, written before we buy. We know how we'll leave before we arrive.

05

Our Own Money

The founders' capital goes into the fund first, and so into every project in it. Underwriting looks different when it's your money too.

Check us: run our featured fund project through the same 10-Minute LP Deal Screen we'd tell you to use on anyone.

View Current Opportunities

See what's open now, and what's next in the pipeline.

[ Step 4 of 5 · See How We Report ]

What Will You Actually Hear From Us
After You Invest?

The quiet after the wire is where most sponsors lose investors' trust. We built L5 so you never wonder what's happening with your money.

01

One place for everything.

InvestNext LP Portal

Updates, documents, distributions and tax forms in your Investor Portal on InvestNext.

02

A quarterly investor update.

Executive Reporting

Project status, distributions and performance across every fund project, from the people running them.

03

A monthly newsletter.

Monthly Insights

Upcoming projects, project updates, market trends and notes from the founders.

04

Distributions when properties pay.

Direct Deposit

Paid by direct deposit as properties generate cash flow. Targets, not promises.

05

Annual K-1s for your tax return.

Tax Delivery

Delivered cleanly for your CPA ahead of tax deadlines, detailing depreciation and passive treatment.

06

A direct line to the founders.

Direct Founder Line

A direct line to Byron and Melynda for the life of your investment. No call centers. No gatekeepers.

[ InvestNext LP Portal Sample ]
Anonymized / Sample
Fund Investment Summary
$50,000.00 Active
Target Hold 5 Years
Target Multiple 2.0x
Latest Milestone Updates
Q4 Investor Performance Briefing Available
Schedule 2026 K-1 Tax Filing Ahead of Target
Available 24/7 on desktop and mobile

What it means for you: you'll know what we know, when we know it. In your first conversation, Byron walks you through exactly what the quarterly update covers.

Ask Byron what the quarterly update covers. No pitch. No pressure.

Step 5 of 5 · Discuss Fit · Open Now · Rule 506(c)

One Commitment. Every Project Vetted, Published and Run by Operators With Their Own Money in First.

The L5 Fund Is Open Now. One Commitment, a Portfolio of Projects We Select, Underwrite and Operate.

The L5 fund is a $15 million fund for commercial real estate in Texas and Louisiana growth corridors. You make a single commitment to the fund. We find, underwrite and operate the projects, and we publish every project we place in the fund, so you can see exactly where your capital goes.

[ Fund Structure Overview ]

The $15M L5 Real Estate Fund

Target Size: $15,000,000 · Structure: Multi-Asset Fund
Why This Structure One commitment, several vetted projects, chosen by operators who say no 95 times and put their own money in first.
Why These Operators L5 is typically part of the general partner team on every fund project, and the sponsor on some. Our own capital goes into the fund first, alongside yours.
Why It's Sound Every project is underwritten to the same 2.0x standard, and the exit is planned before purchase.
[ Fund Term Sheet Summary ]
Structure

Single Commitment

To L5 Multi-Project Fund
Minimum

$50,000

SDIRA / Entity OK
Target Hold

5 Years

Underwriting Standard
Target Multiple

2.0x+

Underwritten Per Project
Who Can Invest

Verified Accredited

Rule 506(c) / InvestNext

Target returns are not guaranteed. All investments involve risk, including possible loss of principal. Past performance does not guarantee future results.

We underwrite every project in the fund to a target equity multiple of 2.0x or better. All underwriting assumes a five-year hold; some projects may exit earlier.

Northeast Louisiana Hospitality Mixed-Use Project rendering Featured Fund Project
[ Upscale Rooms Where the Market Has Too Few ]

Northeast Louisiana Hospitality Mixed-Use Value-Add Project

A shovel-ready, brand-committed boutique hotel in a high-growth Northeast Louisiana corridor with limited upscale inventory. The plan: reposition, brand and operate the property to capture demand the market can't serve today.

Why This Asset Branding, repositioning and professional operations lift room rates and NOI.
Why This Market Growing corridor with strong demand and too few upscale rooms to meet it.
Why It's Sound Exit is planned before purchase; our own capital is in the fund alongside yours.
Asset Type

Boutique Hotel

Mixed-Use Value-Add
Target Hold

5 Years

Underwriting Standard
Target IRR

18–22%

Projected Net to LP
Target Multiple

2.0x

Equity Multiple Target

Target returns are not guaranteed. All investments involve risk, including possible loss of principal. Past performance does not guarantee future results. The full project details, brand and location are shared in your briefing.

Targets are L5's projections based on its underwriting assumptions, detailed in the private investor briefing. Who can invest: accredited investors, whose status L5 verifies through InvestNext before they invest (Rule 506(c)). Before that, you get the full briefing and a direct line to the founders.

Not sure you qualify? Many high earners already do. See if you're verification-ready ↓

Fund commitments are limited.

The fund is capped at $15 million and closes upon full allocation.

For accredited investors. Full business plan, brand, underwriting, fees, and risks. Your information stays private.

[ In the Pipeline ]

We're working to place a self-storage facility in Huntsville, Texas in the fund, and we're evaluating a self-storage facility in Longview, Texas. Every project placed in the fund is published here, and pipeline projects go to our waitlist first.

[ Step 5 of 5 · The Process ]

How Does Investing With L5 Work?
Five Clear Steps.

You're not going to fix toilets, chase tenants or vet contractors. You barely have time for dinner. Good. We find, buy, build, manage and exit. You get the quarterly updates and the distributions. Every L5 investment follows the same defined path. You'll always know which step you're on and who to call.

01

Talk with Byron

A direct, no-pressure 30-minute conversation with Byron Kizzie, Managing Partner, about your goals, your timing and the fund that's open now.

30 Min · No Pitch
02

Review the Fund

Read the public summary and featured project, then request the investor briefing: fund terms, project business plans, underwriting, capital stack, fees and risks.

Investor Briefing
03

Verify Status

A short, private step through InvestNext using the route that suits you, such as a letter from your CPA or attorney. Never through this website.

Rule 506(c) Confidential
04

Subscribe & Fund

Review offering documents and sign electronically in our Investor Portal on InvestNext, then fund by wire or through your self-directed IRA custodian.

InvestNext Portal
05

Track to Exit

Quarterly updates, distributions and annual K-1s live in the Investor Portal, with direct access to the founders until each project is refinanced or sold.

Direct Access · K-1s
[ Accreditation Readiness ]

You May Already Qualify. Get Verification-Ready Before You Need It.

Many physicians, executives, business owners and defense-industry leaders meet the accredited-investor test and have never been asked. Accreditation isn't a license you apply for. It's a status you either meet or don't, confirmed privately before you invest.

You likely qualify if any of these is true:

  • • Income: Above $200,000 in each of the past two years ($300,000 with a spouse or spousal equivalent), with the same expected this year.
  • • Net Worth: Above $1 million, alone or with a spouse, not counting your primary residence.
  • • Licenses: You hold a Series 7, 65 or 82 license in good standing.

Get verification-ready in three moves:

  1. 1. Take the 2-minute check: Private, fast, and nothing to upload.
  2. 2. Pick your route: A letter from your CPA, attorney, RIA or broker-dealer is often fastest. Or two years of income docs / asset statements.
  3. 3. Have it ready: When you're ready to commit, verification takes days, not weeks. Your documents stay with InvestNext, never on this site.
[ Booking Protocol ]

What Happens After You Book

1. Immediate Confirmation You'll receive your reserved time and a direct calendar invitation right away.
2. Preparation Note A short note to help you bring the exact questions that matter to your family.
3. The Conversation About 30 minutes with Byron Kizzie. Goals first, then strategy and the open fund.
4. Agreed Next Step Briefing, webinar, or staying in touch. Nothing is binding until subscription docs.
Schedule an Investor Conversation →

About 30 minutes with Byron. No pitch. No pressure. Invite your spouse or adviser; we encourage it.

[ What Does Waiting Cost You? ]

Another year of capital lost to inflation, taxes, and inaction.

Every year your capital sits idle is a year of growth it never gets back. Another April, another tax bill on income you worked hard for. Another year with everything riding on one market you don't control.

The clock is real: funding typically takes about 90 days from your first conversation. With year-end tax planning in play, every week counts.

But waiting isn't the worst outcome. The worst outcome is trusting the wrong sponsor: one with nothing of their own in the deal, no exit plan and no one to call when it matters. A great deal with the wrong operator is a bad deal.

Talk with your CPA about how timing affects your taxes; we don't promise tax outcomes.
[ The Enduring Vision ]

Picture the other path.

A quarterly update from two people you know by name. A renovated property, a busier block, distributions in your account. Real assets working alongside everything else you own. And something you're proud to hand down.

“You look around and the community you put that asset in is thriving. People are working. You have coffee shops, hospitality, retail, apartment buildings… you’ve built a little ecosystem.”

— Melynda Kizzie, Co-Founder

Our Creed: Building Legacy, Creating Impact, Delivering Returns.

[ Before You Decide ]

What Do Serious Investors Ask Us
Before They Invest?

Good. Ask. Here are the answers we give in every first conversation.

Still Have a Question?

Ask the people who make the decisions.

Schedule an Investor Conversation

No pitch. No pressure. Just straight answers about whether this fits you.

I've never heard of L5. Why trust a smaller sponsor? +

Because with a boutique sponsor, you deal directly with the founders, and their own money is in the same fund as yours. Boutique is deliberate. We apply institutional underwriting and stress testing to properties that are often too small or too complex for large institutions, which is where competition is thinner and value is easier to create. You get specific, attributable results rather than blended marketing numbers, a ground-up building history, and the people who make the decisions on the phone. Meet us. Ask us anything. Judge us by our answers.

How do I know my money is protected? +

Every investment carries risk; what protects capital is discipline, alignment and transparency, and we build all three into every deal. We review about 100 deals to find two to five. We underwrite and plan the exit before a single investor dollar goes into a project. Our own money goes in first, alongside yours, and limited partners are paid their preferred return before the general partners share in profits. Fees are spelled out in the offering documents, and we don't earn our share until you've earned yours. See exactly how we evaluate deals: run ours through the same screen we'd tell you to use on anyone.

How long is my money committed? +

For the fund's target hold of five years. All of our underwriting assumes five years, and some projects may exit earlier. Private real estate is illiquid: there's no public market for your interest, and transfers are limited by the operating agreement. That's the trade for access to returns the public markets don't offer, and you know the plan going in, because the exit is planned before we buy. A refinance can return some or all of your capital before a sale, but plan to invest only capital you can commit for the full hold. We'll walk you through the timeline before you commit a dollar.

Why private real estate instead of REITs or index funds? +

Because direct private real estate gives you things public funds can't: ownership in specific, tangible assets we publish, each with a business plan you can see, and value driven by how well the property is run rather than by daily market swings. Index funds and REITs are fine for some of your money. A value-add sponsor can raise a property's income through renovation and better management, which raises its value. Real estate can also offer depreciation and other tax benefits; outcomes depend on your situation, so consult your own tax advisor about your situation.

What is the minimum investment? +

$50,000 for the L5 fund. It's a minimum, not a requirement for everything you invest. Many investors start at the minimum to see how we operate. The fund's offering documents set the final terms. You can invest personally, jointly, through a trust or LLC, or through a self-directed IRA.

I'm not sure I'm accredited. Can I still talk to you? +

Yes. Conversations and education are open to everyone. Many professionals qualify without realizing it. Investing in the L5 fund requires accredited-investor status, verified through InvestNext before you invest: generally more than $200,000 in income in each of the past two years ($300,000 joint), or more than $1 million in net worth excluding your primary residence. A job title, a military rank or the size of a check doesn't decide it on its own. Find out in two minutes.

[ Not Ready to Talk? ]

Not Ready to Talk Yet?
Take One Small Step Today.

Never leave with nothing. Every step below is free, and each one takes you a little closer to knowing whether private real estate, and L5, is right for you.

1. Guide → 2. Webinar → 3. Office Hours → 4. Conversation → 5. Briefing

Take one step or take them all. Nothing is binding until you sign subscription documents and L5 accepts them.

Step 1 · Free Guide

The Veteran's Guide to Passive Real Estate and Wealth Building

Written by two Army veterans for veterans and military families: how passive real estate works, how to vet a sponsor and what to ask first. From one veteran family to another.

Get the Veteran's Guide →
Step 2 · On Demand

Investor Education Webinar

Free and on demand. How private real estate works, how value-add sponsors create returns and how to tell a disciplined sponsor from a salesperson, with Byron Kizzie.

Watch the Webinar →
Step 3 · Weekly Q&A

Weekly Office Hours

Small-group online sessions with Byron Kizzie, every week. Bring your hardest questions. Leave with straight, unvarnished answers.

Join Office Hours →
Step 4 · Private Dialogue

A Conversation with Byron

About 30 minutes on your goals, timing, and the open fund. No pitch.

Schedule Call →
Step 5 · Full Access

The Investor Briefing

For accredited investors: fund terms, full business plans, underwriting models, fees and risks.

Request Briefing →
[ Use It on Anyone · Tactical Rubric ]

The 10-Minute LP Deal Screen

A one-page first pass on any syndication: sponsor alignment, debt covenants, fee structures, conservative assumptions, and exit realities. Use it on any syndication deal you receive — including ours. Ten minutes could save you from the wrong sponsor.

[ Investor Knowledgebase ]

Frequently Asked Questions
About L5 Legacy Capital

Straight answers to the most common questions about our fund structure, founders, and criteria.

What is L5 Legacy Capital? +

L5 Legacy Capital is a veteran-led real estate investment and development firm headquartered in Frisco, Texas. It acquires and repositions overlooked and underperforming real estate (boutique hotels, workforce and value-add multifamily, self-storage, community commercial and mixed-use, and development projects) in Texas and Louisiana growth corridors, through a fund open to accredited investors. Its two founders are U.S. Army veterans who invest their own capital in the fund first. To see whether the L5 fund fits your goals, schedule an investor conversation with Byron Kizzie at /invest/start/.

Who founded L5 Legacy Capital? +

L5 Legacy Capital was founded by Byron Kizzie and Melynda Kizzie, both U.S. Army veterans. Byron Kizzie, the Managing Partner, served 20 years in the U.S. Army and has 15+ years in real estate development and private equity, with a specialty in hospitality and public-private partnerships. Melynda Kizzie, Co-Founder, is a real estate developer with an MBA and a Doctorate in Organizational Leadership. They started in real estate building houses with their own hands, and today Melynda finds the opportunities while Byron underwrites them and closes. Investors talk with them directly: schedule an investor conversation at /invest/start/.

Who can invest with L5 Legacy Capital? +

Accredited investors whose status L5 verifies before they invest. L5 raises capital under Rule 506(c) of Regulation D, which allows it to discuss its fund publicly and requires verification of every investor, which L5 completes through InvestNext. Anyone can use L5's education resources and talk with the team, and many professionals qualify without realizing it. Check in two minutes at /tools/accreditation-check, and get verification-ready before you need it at /invest/accredited-investors/.

What is the minimum investment with L5 Legacy Capital? +

The minimum investment in the L5 fund is $50,000. The fund's offering documents set the final terms. Investors can invest personally, jointly, through a trust or LLC, or through a self-directed IRA. Many investors start at the minimum to see how L5 operates. Ask about current availability at /invest/start/.

Do I invest in a fund or in individual projects with L5 Legacy Capital? +

In the fund. L5 Legacy Capital is raising a $15 million fund for commercial real estate in Texas and Louisiana. You make a single commitment to the fund, and L5 selects, underwrites and operates the projects; it's sometimes called a blind-pool fund. L5 publishes every project it places in the fund, so investors can see exactly where the capital goes. L5 underwrites every project in the fund to a target equity multiple of 2.0x or better, with a five-year target hold. Target returns are not guaranteed. All investments involve risk, including possible loss of principal. Past performance does not guarantee future results. Ask Byron Kizzie about the fund at /invest/start/.

What kind of real estate does L5 invest in, and where? +

L5 invests in boutique and brand-affiliated hotels, workforce and value-add multifamily, self-storage, community commercial and mixed-use properties, and development and adaptive-reuse projects. It concentrates on Texas and Louisiana growth corridors anchored by military installations, universities and expanding infrastructure. Its featured fund project is a boutique hotel in Northeast Louisiana, and its pipeline includes self-storage in Huntsville and Longview, Texas. L5 targets properties that are often too small or too complex for large institutions, where a disciplined operator can raise income and value. See what's open now at /invest/opportunities/.

What is L5 Legacy Capital's track record? +

L5's lead case study is a $2,250,000 residential workforce housing development in Northeast Louisiana that delivered a 1.5x equity multiple, a 50% return on invested capital, to investors in under 15 months. L5 pre-qualified buyers before construction began and partnered with local lenders on closing-cost assistance and favorable financing. That is a single project's realized result and is not representative of all L5 investments. Target returns are not guaranteed. All investments involve risk, including possible loss of principal. Past performance does not guarantee future results. Read the full story at /track-record/.

Does L5 invest its own money in its deals? +

Yes. L5's founders put their own capital into the L5 fund first, then bring in investors, and the fund's offering documents give limited partners a preferred return, paid before the general partners share in any profits. In plain terms: L5's money goes in first, and investors get paid first. Ask to see how the waterfall works on the L5 fund at /invest/start/.

How do I get started with L5 Legacy Capital? +

Schedule an investor conversation at /invest/start/. It's about 30 minutes with Byron Kizzie, Managing Partner, with no pitch and no obligation. From there, the process is: review the fund and the investor briefing, verify accredited status through InvestNext, subscribe and fund in L5's InvestNext Investor Portal, and track the investment through to the exit. Funding typically takes about 90 days from the first conversation. If you'd rather learn first, start with the free on-demand investor education webinar at /learn/webinar/.

Legacy community mixed-use destination at dusk, L5 Legacy Capital

“Years from now, someone will drive past a restored hotel, a block of homes working families can afford, a corner that's busy again. Your family will know what you helped build, and what it built for them.”

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We prefer deep conversations over quick pitches. Tell us what you're building, and we'll show you how L5 underwrites, executes and reports, and whether the L5 fund fits. Two Army veterans. Our money in first. You paid first. Ask us anything.

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