Who can invest in the L5 fund?

Verified accredited investors. The fund is offered under Rule 506(c) of Regulation D, and accredited status is verified through InvestNext, L5's investor portal, before anyone invests.

Veteran-led private real estate · Frisco, Texas

Invest beside two Army veterans who put their money in first.

Q: What is the minimum investment?

$25,000, a starting point many private funds won't offer.

Q: Can I invest with my IRA?

Yes. You can invest through a self-directed IRA custodian, or through an entity.

Q: How long is my money committed?

The fund targets a five-year hold. Some projects may exit earlier.

Q: L5 is a 2026 firm. Why trust a new sponsor?

The firm is new. The builders aren't. Byron and Melynda have more than 15 years of building and investing, and their own money goes into the fund first.

One commitment to the L5 fund: value-add hotels, workforce housing, self-storage and mixed-use real estate in Texas and Louisiana growth corridors. Our money goes in first. You get paid first.

Initiate a Conversation → Get a Second Look

A private conversation with Byron Kizzie, Managing Partner. No pitch. Bring your spouse or CPA.

$15M fund$25,000 minimumIRA & entity welcomeRule 506(‌c) offering · accredited investors only

U.S. Army
Veterans

Both founders served

Veteran
Owned

Veteran-owned firm

Family
Owned

Husband-and-wife founders

Rule
506(‌c)

Accredited investors only

Invest
Next

Secure investor portal

Why investors start here

The firm is new. The builders aren't.

L5 Legacy Capital opened to investors in 2026, after more than 15 years of Byron and Melynda building and investing with their own money.

15+ yrs

Real estate development and private equity, through the 2006 boom and the 2008 downturn

$6M+

Property acquisitions overseen by Byron Kizzie

1.5x

Realized equity multiple on a $2.25M Northeast Louisiana project, in under 15 months

~100 : 2–5

Deals reviewed for every two to five we take

Meet the operators

Who is behind your capital?

Two U.S. Army veterans, partners in business and in life. They started with hard hats and hammers in their hands, long before raising outside capital.

Managing Partner

Byron Kizzie

Byron underwrites every deal, structures the capital, builds the lender relationships and plans the exit before we buy. Every first investor conversation is with Byron.

20-year U.S. Army veteran
Corporate leader in the defense sector
15+ years in real estate development and private equity
Delivered $4M+ residential and $5M+ commercial and hospitality projects

“Whenever you invest with us, we'll treat your money just like our money.”

Co-Founder

Dr. Melynda Kizzie

Melynda leads the front end: finding the deals. She focuses on institutional strategy and community impact in growth corridors.

U.S. Army veteran
MBA
Doctorate in Organizational Leadership
Real estate developer

“We always make it a point to pay our investors first, because you are the ones who trusted in the vision.”

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

In the foxhole with you

Most sponsors raise money. We stand beside it.

Our money goes in first.

The founders put their own capital into the fund before bringing in investors. Their earnest money is the first money in on every property.

You get paid first.

Limited partners receive a preferred return before L5 shares in any profits, as set out in the fund's offering documents.

III

We say no 95 times.

Every deal passes four checks: our underwriting, a second underwriter, the bank's underwriting, and an investor call on the numbers and risks.

The exit comes first.

We plan how we leave a property before we buy it: refinance or sale, on a five-year plan.

You don't charge a hill without recon. I don't buy a building without it.Initiate a Conversation →

What we buy and where

We don't wait for the market. We build the value.

Commercial real estate is valued on its income. Raise the net operating income, and you raise the value.

AcquireRepositionOptimizeRaise NOIExit

Northeast Louisiana · workforce housing Realized

Northeast Louisiana · boutique hotel Fund project

Huntsville, Texas · self-storage Pipeline

Longview, Texas · self-storage Under evaluation

Boutique & branded hotels

Branding, repositioning and professional operations to lift room rates and NOI.

Workforce multifamily

Well-located apartments that need better management and capital improvements.

Self-storage

Needs-based demand and lean operations.

Commercial & mixed-use

Community retail and mixed-use along growing corridors.

Development & adaptive reuse

Ground-up and redevelopment projects in underserved Texas and Louisiana markets.

Realized

The mayor asked for homes. The L5 team built them.

Working families in Northeast Louisiana needed homes they could afford to buy. After a town hall, on land from a local mentor, the team pre-qualified buyers before breaking ground and partnered with local lenders on closing-cost assistance.

$2.25Mhousing development

1.5xequity multiple realized

<15 mopaid out before the last lots sold

Inspect the case study →

How we got here

Built with our own hands first.

HawaiiBuilt two homes as a military family; sold both within 60 days for more than $400,000 combined profit.
Virginia build-to-rent25 acres. Three test homes first, and a waiting list of renters before construction finished.
Northeast Louisiana$2.25M workforce housing, 1.5x realized. A second phase is still to come.
2026: L5 opens to investorsThe $15M L5 fund, so others can invest beside us.

The L5 fund

One commitment. Several vetted projects.

You make one commitment to the fund. We find, underwrite and operate the projects, and we publish every project we place in it.

Initiate a conversation with Byron
Review the private investor briefing
Verify accredited status on InvestNext
Fund by wire or self-directed IRA
Quarterly updates, investor meetings and K-1s

Full terms and disclosures: read the fund terms →

Fund size$15M

Minimum$25,000

Target multiple2.0x+

Target hold5 years

AccountsIRA · entity · personal

Investor priorityPreferred return

Who can investRule 506(‌c) offering · accredited investors only

60-second check

Am I an accredited investor?

Many professionals qualify without realizing it. The SEC's main tests for individuals:

Income: over $200,000 a year ($300,000 with a spouse or partner) in each of the last two years, expecting the same this year.
Net worth: over $1 million, alone or with a spouse or partner, not counting your primary home.
Credentials: an active Series 7, 65 or 82 license.

An educational guide only. Your status is formally verified on InvestNext before you invest.

Did you earn more than $200,000 ($300,000 jointly) in each of the last two years?

And do you expect the same this year?

Is your net worth over $1 million, excluding your primary home?

Alone or together with a spouse or spousal equivalent.

Do you hold an active Series 7, 65 or 82 license?

FINRA professional certifications.

Will you invest through an entity or trust with more than $5 million in assets, or one owned entirely by accredited investors?

For example a family trust, LLC or family office.

You likely qualify.

Based on your answers, you likely meet an SEC accredited-investor test. The next step is a private conversation with Byron.

Initiate a Conversation →

Not yet, and that's fine.

We'll always be straight with you about eligibility. Start with Investor Foundations, our free education track, and talk with Byron when you're close.

Start Investor Foundations →

The Second Look

Considering another sponsor? Get a second look from Byron.

Get our Sponsor Due Diligence Checklist: the questions to ask before you invest a dollar. Use it on any sponsor, including us. Then, if you'd like, send Byron the deck you're weighing for a straight, private read.

Is the sponsor's own money in the deal, and does it go in first?
Who gets paid first, and what are every one of the fees?
What are the debt terms and the underwriting assumptions?
What's the exit plan, and what happens if it slips?

Straight answers

What investors ask us first

L5 is a 2026 firm. Why trust a new sponsor?

The firm is new. The builders aren't. Byron and Melynda have more than 15 years of building and investing, you deal directly with them, and their own money goes into the fund first.

What is the minimum investment?

$25,000, a starting point many private funds won't offer. Many investors start at the minimum, read the quarterly updates and decide from there.

Can I invest with my IRA?

Yes. You can invest through a self-directed IRA custodian, an entity or personally.

How long is my money committed?