b'How to Legally Raise Private Moneysingle event such as sale of the company or a product or an infusion of capital from a new source. The proceeds from a refinance or sale of real estate are typically first used to return all or part of the investors capi-tal contributions, and any remaining distributable cash will generally be split between the members of the company and you. The range of distributions offered to investors can vary greatly based on the type of investment and the level of risk to which an investor will allow its money to be exposed. In most cases a higher projected return means a greater risk. Negotiating Separate Terms with Individual InvestorsExcept for large investors that may be separated in their own class or promissory note investors, it is impractical to negotiate separate terms with individual investors. Large investors may demand it, and because of the amount of their investment it may be worth it to negotiate separate terms with those investors. If you are selling promissory notes it may be more viable to negotiate separate terms with separate investors. But if you are selling equity inter-ests to investors $50,000 or $100,000 at a time, you wont want to negotiate separate terms with individual investors. You set the terms and make the offer that investors can take or leave. MORE WAYS YOU CAN EARN MONEY AS A SYNDICATORAsset Management FeesFeesaretypicallyconsideredanexpenseofthesyndication,which means they are paid before determining distributable cash. You may earn fees on a monthly, quarterly or annual basis. Below are some fees you may take. Think of this like an ala carte menu:You may have some but not all of these fees in your syndicate.Real Estate CommissionsA syndicator who is also a licensed real estate broker or agent in the state where the subject property is located may also earn commissions or 90'