Ever wondered how to perfect your pro forma budgeting for real estate investments? This episode is a goldmine of valuable insights as we sit down with seasoned broker and senior managing director at Greysteel, Doug Banerjee. Doug generously shares his expertise on everything from calculating reserves to avoiding common pro forma mistakes, as well as the importance of vetting your general partner and management team before investing in a property.As we dive deeper into the world of real estate investing, Doug enlightens us on the impact of scale, supply chain issues, and inflation, and why it's essential to consult a tax expert when considering real estate taxes and insurance. We also explore the differences between in-house and third-party management, discussing the pros and cons of each, and learn about the dramatic increase in payroll growth over the past decade.Closing out this information-packed episode, Doug shares his personal metric of finding a balance between work and family, while also touching on the significance of vendor connections, pricing power, and the size and geography of your business. We also delve into the typical amount of reserves operators have in place from day one, and the crucial aspect of budgeting for CAPX projects. Don't miss this fantastic opportunity to learn from an industry expert and level up your real estate investment strategies.After interviewing thousands of entrepreneurs, one truth is clear: business success means little if it costs your marriage, family, or faith.I'm now hosting the Courageous Men podcast for men who want to lead well at home and at work. I'm looking for five men to walk closely with who want to lead well at home and work.  Email me at whitney@whitneysewell.com and tell me why you should be one of the five. whitneysewell.com  VISIT OUR WEBSITEhttps://lifebridgecapital.com/Here are ways you can work with us here at Life Bridge Capital:⚡️START INVESTING TODAY: If you think that real estate syndication may be right for you, contact us today to learn more about our current investment opportunities: https://lifebridgecapital.com/investwithlbc⚡️Watch on YouTube: https://www.youtube.com/@TheRealEstateSyndicationShow📝 JOIN THE DISCUSSIONhttps://www.facebook.com/groups/realestatesyndication➡️ FOLLOW UShttps://twitter.com/whitney_sewell https://www.instagram.com/whitneysewell/ https://www.linkedin.com/in/whitney-sewell/ ⭐ Be Our Guest!We are continuously working hard to help our listeners with their journey to real estate syndication. If you think you can add value in any way to our listeners who are in commercial real estate, then we’d love to have you over. Apply here: https://lifebridgecapital.com/join-our-podcast/