b'some amount less than the amount of your projected need that would still allowyoutobuytheproperty,whileyoucontinueraisingmoneyafter acquisition.Ifyousetaspecificnumber,youwouldneedinvestor permission to deviate from it if you fall short or later discover you need additional funds.Best Efforts In a best-efforts raise, you will establish a maximum dollar amount for your offering and then attempt to raise it. You can use investor funds after you have raised any amount.This type of raise may be the riskiest for your investors because there is no minimum established amount that must be raised before investor funds can be used. With a best-efforts raise, you could be under-capitalized to the pointwhereyourplansforthepropertycantpossiblysucceed.Using investor funds pre-maturely puts investor funds at the greatest risk of being lost if you are never able to raise enough to meet your objectives for the property.Minimum-Maximum Offering In a minimum-maximum raise, you will establish a minimum dollar amount that must be raised before any investor funds can be used. The point at which you begin to use investor funds is called breaking impounds. If you dont raise the minimum dollar amount, then you cant break impounds and you are obligated to give all money back to investors without deduction. The alternative is to get investor permission to break impounds with a lower minimum dollar amount. However, the minimum dollar amount is what you 113'