b'14. PASSIVELY INVESTING IN A SYNDICATIONIf you have a self-directed IRA or substantial investment funds you may have considered investing in real estate or a startup company. You may lack the funds to invest on your own or the desire to deal with the hassles of property management. A viable option for you may be to invest in a syndication as a passive investor.WHAT INFORMATION SHOULD YOU GET FROM THE SYNDICATOR? Prior to accepting any investor funds, the issuer is required by securities laws to provide a set of offering documents that explains the terms and discloses the risks of the offering to prospective investors. Issuers typi-cally answer to their investors by means of periodic newsletters, financial reports, and/or teleconferences. Unlike a stock investment, investors may also have some limited voting rights regarding major decisions affecting the company or their invest-ment. You should always ask hard questions about a syndicators track record and what kind of returns they have had on past deals that they have spon-sored by themselves, and whether they have met investor expectations. You may also want to ask for some investor references from past deals. Onthenextpageisasummaryofthequestionsyoushouldask.CHECKLIST: TEN QUESTIONS YOU SHOULD ASK1.What is the issuers background, education and experience with similar investments, if any? 153'