In this episode, Charles delves into the crucial strategies for success in multifamily investing. Inspired by a thought-provoking episode from Alex Ramosi's podcast, "The Game," Charles explores the concept of time horizons and its impact on two predominant multifamily investment models: the Warren Buffett model and the syndication model. Charles breaks down the differences between rich people who sell and wealthy people who hold, emphasizing the importance of understanding time horizons in building a real estate empire. He dissects the syndication model, referring to it as "multi-level marketing for the multifamily investor," drawing parallels with playing a finite game with an infinite perspective. The discussion unfolds with insights into the financial implications of selling in syndication, highlighting the tax disadvantages and limitations compared to the buy-and-hold strategy. Charles advocates for an infinite game perspective in multifamily investing, emphasizing the significance of building and holding for the long term. He contrasts the finite game perspective of winning with the infinite game's goal of keeping the game going. Charles stresses the importance of having the longest horizon in multifamily investing, asserting that the person with the longest horizon wins. He challenges listeners to adopt a strategy where waiting equates to winning, emphasizing the contrast between becoming rich and becoming wealthy in the real estate game.