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. We give accredited investors private access to value-add boutique hotels, workforce housing and mixed-use real estate, with our own capital in every deal and investors paid first.
A private conversation with a founder. No pitch. No pressure.
Frisco, Texas Headquarters · Direct Founder Phone Access · Preferred LP Waterfalls · InvestNext Portal
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.
- ✕ 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.
- ✓ 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.
Where Would You Like to Begin?
Choose the pathway that matches your balance sheet timing and immediate diligence objectives.
Accredited Only · 506(c)
01
Invest
Direct Capital DeploymentFor 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.
Due Diligence & Tools
02
Learn
Education & DiligenceNot 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.
Fiduciary Alliances
03
Partner
Advisers & Family OfficesFor 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.
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.
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 life. Our founders spent two decades leading teams in uniform. They started in real estate the way many military families do: with a single home, then a rental property.
Then they built from the ground up — hard hats on, hammers in hand, tearing out drywall and framing houses long before they ever accepted a dollar of outside investor capital. That hands-on building knowledge now underwrites commercial hospitality and community developments.
[ 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
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
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
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.
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:
GP Equity at Risk · Skin in Every Deal
I.
Our money goes in first.
Founder Co-Investment StandardThe 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.
LP Waterfall Preference · Legal Priority
II.
You get paid first.
Audited PPM PreferenceWritten 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.
Ruthless Deal Sifting · ~100 to 2–5
III.
We say no 95 times to say yes to you.
Conservative Screening MetricWe 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.
Dual Exit Architecture · Written Before Purchase
IV.
We plan the exit before we buy.
Defensive Underwriting HorizonEvery 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.
“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
Bring your hardest questions. We’ll show you how every commitment above is drafted into the offering documents.
Where Does Your Capital Go?
Where Others Overlook.
Obvious institutional deals are hyper-crowded and bid up beyond reason. The exceptional risk-adjusted returns lie in overlooked middle-market assets where a disciplined operator can force appreciation through operational lift and Net Operating Income (NOI). We don’t wait for market appreciation. We build it.
Hospitality
Boutique Hospitality
Boutique and select-service hotels in supply-constrained regional corridors where professional repositioning, modern branding, and food & beverage concepts increase Average Daily Rate (ADR) and cash flow.
Multifamily
Workforce & Value-Add Housing
B-class communities near military installations, regional healthcare systems, and universities. We execute disciplined interior renovations and professional management to provide high-demand housing working families need.
Mixed-Use
Commercial & Mixed-Use
Strategic retail and community mixed-use properties at primary arterial intersections. We build diversified tenant mixes, long-term leases, and adaptive neighborhood destinations.
Development
Development & Adaptive Reuse
Ground-up residential infill and adaptive redevelopment of distressed hospitality assets. Grounded in our founders' roots of physical construction and municipal coordination.
Five Disciplined Milestones. Written Before Purchase.
Acquire
Below replacement cost
Reposition
Targeted capital renovation
Optimize
Professional management
Increase NOI
Drive net yield & value
Exit
Refinance or Sale
See what's open now, and review what's upcoming in our pipeline.
Have We Done This Before?
Here Are the Numbers.
Anyone can present an excel projection. We show you a completed, realized development: the capital returned, the exact timeline, and our operational role.
Northeast Louisiana Workforce Housing
Before: A growing regional corridor with acute shortages of quality, well-built housing that working families could realistically afford.
What We Did: L5 served as the developer and general partner sponsor. We pre-qualified home buyers before construction broke ground and forged strategic partnerships with local community lenders for closing-cost assistance and favorable mortgage underwriting.
After: Homes were acquired immediately by pre-qualified families, accelerating sales velocity and distributing full investor capital and returns ahead of projection.
$2,250,000
Total Project Value
1.5x
Equity Multiple to LPs
50%
Return on Capital (ROIC)
< 15 Mos
Full Capital Return Hold
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.
Upscale Rooms Where the Market Has Too Few
Northeast Louisiana Hospitality Mixed-Use Project
A shovel-ready, brand-committed boutique hotel in an expanding Northeast Louisiana infrastructure corridor with severely limited upscale inventory. The plan: reposition, brand, and operate to capture institutional and business travel demand.
Boutique Hotel
Mixed-Use Value-Add3–5 Years
Defined Exit Strategy$50,000
SDIRA / Entity OK18–22%
Projected Net to LP2.0x
Equity Multiple TargetTarget returns are not guaranteed. All investments involve risk, including possible loss of principal. Past performance does not guarantee future results. Targets are L5's projections based on its underwriting assumptions, detailed in the investor briefing. Offered privately, and only to accredited investors, whose status L5 verifies before they invest.
Allocation is strictly limited.
Subscriptions accepted on a first-confirmed basis through InvestNext.
How Does Investing With L5 Work?
Five Disciplined Steps.
You're not fixing plumbing, negotiating leases, or managing contractors. You barely have time for dinner. We find, underwrite, reposition, manage, and exit. You receive transparent updates and preferred distributions.
Start Dialogue
A direct, 30-minute conversation with a founder regarding your balance sheet goals, tax timing, and current open allocations.
Review Briefing
Inspect the full business plan, sensitivity stress tests, debt structure, fees, and operational risks. Complete transparency.
Verify Status
A secure, private 2-minute accreditation verification through InvestNext or CPA letter. Kept strictly confidential under Rule 506(c).
Fund Allocation
Execute subscription agreements electronically and wire capital or transfer via Self-Directed IRA custodian (e.g. Madison Trust, Entrust).
Track to Exit
Receive monthly operational dashboards, quarterly distribution payouts, and timely K-1 tax forms with direct founder phone access.
Another year of high earnings lost to inflation and taxes.
Every year capital sits idle in commercial checking is an irrecoverable year of compounding lost. Another tax filing paying maximum marginal brackets on ordinary income.
Yet inertia is not the only hazard. The graver risk is backing an opportunistic retail syndicator: promoters with zero personal capital committed, no written exit strategy, and no one answering the phone when markets fluctuate.
Generational assets working tirelessly alongside you.
“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 an enduring ecosystem.”
— Melynda Kizzie, Co-Founder
Our Operating Creed: Building Legacy, Creating Impact, Delivering Returns.
What Do Serious Investors Ask Us
Before They Invest?
Good. Ask. These are the straightforward, unhedged answers we give in every first conversation with accredited investors.
Still Have a Question?
Talk directly to the founders who review every underwriting model.
Schedule Investor ConversationI've never heard of L5. Why trust a boutique sponsor? +
Because with a boutique sponsor, you deal directly with the founders, and their own capital is invested in the exact same deal alongside yours. Boutique is our deliberate strategy: we apply institutional underwriting and rigorous stress testing to assets that are often too small or too nuanced for mega-funds. That is where pricing inefficiencies exist and forced appreciation is achievable. You receive attributable, transparent performance, a ground-up construction pedigree, and the direct cell phones of the decision makers.
How do I know my capital is protected? +
Every real estate investment carries risk; what protects principal is discipline, alignment, and transparent documentation. We review ~100 deals to acquire 2 to 5. We underwrite conservative debt and plan multiple exit paths before inviting investors. Our own money goes in first, and limited partners receive their return preference before L5 shares in performance fees. We don't earn our upside until you have earned yours.
How long is my capital committed? +
For the target hold period stated in each offering memorandum — typically 3 to 5 years for our value-add hospitality and multifamily assets. Private real estate is an illiquid asset class; in exchange, it provides tax-advantaged cash yields and forced appreciation that public paper markets cannot replicate. A capital-event refinance may return substantial initial capital prior to disposition, but you should only commit funds intended for the full investment horizon.
Why private real estate instead of public REITs or index funds? +
Public equity markets and paper REITs fluctuate daily on sentiment, interest rate rumors, and macro headlines completely detached from property performance. Private commercial real estate provides direct fractional ownership in a physical, tangible asset whose value is tied to net operating income (NOI). Additionally, cost segregation and depreciation can offer substantial tax sheltering for qualified investors.
What is the minimum investment? +
The minimum allocation for our current Northeast Louisiana hospitality offering is $50,000. Each offering specifies its own minimum in the Private Placement Memorandum. You may invest as an individual, jointly with a spouse, through a family trust or LLC, or via a Self-Directed IRA (SDIRA) or Solo 401(k).
I'm not sure if I'm accredited. Can I still talk with you? +
Yes. Executive consultations and our educational webinar library are open to all professionals and business owners. Many high-earning leaders qualify as accredited without realizing it (typically $200k individual / $300k joint annual income for the past two years, or $1M+ net worth excluding primary residence). A short, free check takes two minutes.
Not Ready to Talk Yet?
Take One Small Step Today.
Never leave without clarity. Every step below is complimentary, designed to help you determine if private value-add real estate aligns with your balance sheet.
The Veteran’s Guide to Passive Real Estate
Written by two Army veterans for military families and professionals. Explains syndications, tax mechanics, sponsor vetting, and what questions to ask first.
Investor Education Masterclass
30-minute private video walkthrough with Byron Kizzie. Explores how value-add operators force appreciation, underwrite debt, and protect LP distributions.
Weekly LP Office Hours
Small-group online Q&A sessions directly with Byron Kizzie. Bring your toughest questions about deal waterfalls, markets, and underwriting.
The 10-Minute LP Deal Screen
A ruthless one-page screening rubric covering sponsor alignment, debt covenants, fee structures, conservative assumptions, and exit realities. Use it on any syndication deal you receive — including ours.
“Years from now, someone will drive past a restored boutique hotel, a neighborhood of homes working families can afford, or a bustling commercial corner. Your family will know what you helped build — and what it built for them.”
Build the Legacy You'll Hand Down.
Start With One Conversation.
We favor deep conversations over rapid sales pitches. Tell us what balance sheet goals you are building toward, and we'll show you how L5 underwrites, executes, and reports. Two Army veterans. Our money in first. You paid first.
What Happens Next:
A private conversation with a founder. No sales pitch. No pressure. Your information remains strictly confidential.
Building Legacy · Creating Impact · Delivering Returns