b'need to do the deal, while you continue to raise money for additional capital improvements, management reimbursements, and acquisition fees. The less you raise of your projected need before closing on the property, the less likely your syndicate or fund is to be successful.Sometimes the right thing to do is to give investors their money back withoutdeductionandwalkawayfromthedeal.Ifyougetintoan undercapitalized deal, you will likely have the same issues the seller had and areunlikelytoachieveyourprojectedperformancegoalsunlessyou quicklyfilltheremainingsubscriptionsandachieveyourtargetdollar amount shortly after closing. It becomes harder to raise money post-closing than before, due to the fact that you may learn detrimental things about the property after closing that now have to disclose to new investors.The maximum dollar amount should be the target amount you would liketoraiseplusacushionof10%-20%thatwillallowyoutoraise additionalfundsifneeded.Thiscouldhappenifyoudiscoversome unexpected expense items, or experience higher improvement costs than anticipated.The minimum-maximum raise is the most common type of raise that our law firm clients use. Open-Ended or Evergreen Offering In an open-ended or evergreen raise, there is no maximum dollar amount established and there may or may not be a minimum dollar amount.Evergreen funds work best for mortgage funds or hard money lending funds where the fund investments are periodically redeemed by the funds 114'