b'Chapter 13Specified Offerings or Syndicates A specified offering means you are raising money for specific, pre-identifiedpurpose.Thisisthesyndicationmodel.Syndicationoften involves the purchase of one or more existing commercial properties or acquiring land for development.A specified offering for a pre-identified propertyis the easiest way to raise money. Property Information Foraspecifiedoffering,theassetmanagerwilldraftaproperty information package (or investment summary) explaining details about the project, such as: A basic description of the propertyLocation and demographicsThe plan of operation to add value or develop the property (this could include a list of proposed improvements, estimated costs, etc.) Sources and uses of funds (where the acquisition is money coming from and how it will be spent) Projected returns over a specified timeframe based on estimated or past income and expenses, taking into account your plan of operation and a projected sales price (also called the pro forma) Your proposed exit strategy; for real estate that could include a refinance, sale, 1031 exchange or indefinite hold107'