And on an aside, I went to Chico State and hope the town is surviving the fires. 

Quote from @Jay Hurst: Quote from @Chris Seveney: While this sounds like a good idea, I don’t see how a company like this can survive - such a small market segment and once rates level out and are more consistent they have not really be neededI know them.

They survived the market crash and the pandemic for good reason.

Let it crash and the HYSA & Tbill holders can scoop up after tapping some reserves to survive.

Many of the most successful (read as: founders that are worth well into the 9 figures, have survived multiple market cycles, etc) syndicators I know started by working in real estate for other companies.  

The unknown is, will they survive?

Some adapted & survived though.It was easy to predict the same thing happening with the STR market, especially with the short-term COVID craziness.It was crazy seeing investors bidding up property prices based upon STR projected income, NOT LTR income!

Most of them are rated to survive in double digits, but when you to singles and negative it gets dicey real quick.   

My point is it's part of our wiring to be suspicious, it's a survival mechanism and that's good.

You won't survive.