b'From 2008 through 2015, we saw many deals that offered 60/40 splits with annualized returns in the low to mid 20s.From 2015-on we saw a shift to 70/30 splits with annualized returns in the mid to high teens.For larger deals, weve seen more 80/20 splits.Anything that deviates too far from the current market return rate is doomed to fail or only be marginally successful. You might get away with offering a slightly lower return than the norm if your project also has a social good aspect, but you still cant get too far away from normal terms or few people will invest.You Have Too Many Steps in Your Distribution Waterfalls. Ifyourdistributionwaterfallsaretoocomplicatedforinvestorsto understand, they are likely to say no. Keep them simple.Your Fees Are Too High. Investors expect that the asset manager of a private offering will earn certainfees;buttherearenormalfees,andthereareabnormalfees.A property management fee of 20% is going to be too high and is likely going to turn off investors. Find out what the norm is by getting bids from multiple property managers in the area where your property is located and adjust your proposed fees accordingly. Ask your corporate securities attorney what the norm is for your offering type and stay within those norms.158'