In this episode of Multiple Perspectives, host David Lofgren sits down with Rob Beardsley, founder of Lone Star Capital, to explore the evolving landscape of multifamily real estate investing. From building a 5,000-unit portfolio in Texas to navigating market cycles, Rob reveals why traditional value-add strategies can be overrated and how conservative underwriting, vertical integration, and location quality drive sustainable success. Whether you’re an LP or high-net-worth investor, this conversation delivers actionable insights for smarter real estate decisions.