You shouldn't have to take a sponsor's word for it. L5 Legacy Capital, a veteran-led real estate firm in Frisco, Texas, shows its work one named project at a time. Our headline realized result: a $2.25 million workforce housing development in Northeast Louisiana that returned a 1.5x equity multiple, $1.50 back for every $1.00, in under 15 months.
One project's results do not predict the results of any other project. Target returns are not guaranteed. All investments involve risk, including possible loss of principal.
Ask the man who underwrote it. A private conversation with Byron Kizzie, our Managing Partner. No pitch. No pressure.
Because most are built to impress, not to inform. You get a blended "average return" across deals nobody names. Projections sit beside results until you can't tell them apart. The sponsor's role stays vague: did they run the project, or just write a check into it?
You can't diligence a slogan. A track record you can't trace is a risk you can't see, and the price of trusting the wrong sponsor is your principal. So we show ours one named project at a time.
A $2.25 million workforce housing development that working families bought and investors exited at 1.5x in under 15 months.
Working families in Northeast Louisiana needed quality homes they could afford to buy. Most developers drove right past. And for-sale development carries one hard risk: homes nobody buys in time, while carrying costs eat the return.
The homes sold. Working families got the keys to homes of their own. Investors exited ahead of schedule and asked to be brought into the next project.
| Project value | Investor result | Time to realized result | Who bought the homes |
|---|---|---|---|
| $2.25 million | 1.5x equity multiple ($1.50 per $1.00) | Under 15 months | Working families |
One plan, three wins: buyers, investors and a community with new homeowners.
One project's results do not predict the results of any other project. Target returns are not guaranteed. All investments involve risk, including possible loss of principal.
From our own money and our own hands. Before we asked a single investor to trust us, Byron Kizzie and Dr. Melynda Kizzie proved the model on two founder projects: personal investments, not L5 investor results. Every rule we run on today was learned there, with nobody's capital at risk but our own.
As a military family stationed in Hawaii, we built our first home for under $320,000. Eight years later, instead of selling it, we turned it into a rental and built a slightly larger second home for under $580,000. When the moment came to sell, both homes sold and closed within 60 days, for more than $400,000 in combined profit. That was our personal result, with our own money, before L5 existed.
“The most valuable thing we gained wasn't simply the profit. It was the realization that real estate could be a vehicle for building long-term wealth.” — Dr. Melynda Kizzie
Identify opportunity · Create value · Generate income · Build equity · Exit strategically · Reinvest.
We acquired 25 acres in a high-potential Virginia market for a purpose-built rental community. We didn't build it all at once. We built three homes first to test our research, and we had a waiting list of renters before the last nail went in. Our community and municipal relationships showed us the growth coming, so we set rents significantly above the market's historical levels. We completed the community, and demand there remains strong today.
Network · Underwrite · Analyze · Build · Create value.
Hawaii and Virginia were the founders' own projects, not L5 investor results. One project's results do not predict the results of any other project.
Two U.S. Army veterans, a full market cycle and real projects at real scale.
U.S. Army service by Byron Kizzie, Managing Partner, who also leads in the defense sector.
In real estate development and private equity, building through the 2006 boom and 2008 downturn.
In property acquisitions overseen by Byron Kizzie.
Residential communities delivered.
Commercial and hospitality projects delivered.
We review ~100 deals to select the 2 to 5 that work. We say no 95 times so we can say yes to you.
“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
Project by project. Realized results are labeled realized, targets are labeled targets, and we state our role: developer, sponsor, general partner or founder project. No blended averages, ever. So you judge us on facts, not adjectives. Hold every sponsor to this standard, L5 included. → How to evaluate a sponsor
We're back in Northeast Louisiana, with the same relationships and the same discipline, now through the L5 fund.
| Project | Market | Status |
|---|---|---|
| Boutique hotel: shovel-ready, brand-committed | Northeast Louisiana | In the L5 fund; the fund is open now. Location and brand are shared in the private investor briefing. |
| Self-storage facility | Huntsville, Texas | Pipeline: being placed in the fund |
| Self-storage facility | Longview, Texas | Under evaluation |
We publish every project we place in the fund, so you always see where your capital goes. We've done this before in Northeast Louisiana. We'd like to do this again, with you. → See the fund and its projects
Byron will walk you through Northeast Louisiana line by line and answer your hardest questions.
A private conversation with Byron Kizzie, our Managing Partner. No pitch. No pressure.
L5's headline realized result is a $2.25 million Northeast Louisiana workforce housing development that returned a 1.5x equity multiple, $1.50 back for every $1.00, to investors in under 15 months. Behind it stand 15-plus years in real estate development and private equity. One project's results do not predict the results of any other project. Target returns are not guaranteed. All investments involve risk, including possible loss of principal.
No. They are the founders' own projects, built with their own money, and they are where the L5 playbook was learned. L5's investor track record is reported separately, project by project, starting with Northeast Louisiana.
Because you can trace every line of it, and because our money goes in first and you get paid first. Boutique means you deal directly with the founders who ran the project, not a sales team. Judge us by our answers.