b'Key Takeaways Foratablecomparingthethreewaterfallmodelsdescribedinthis chapter,thatillustrateshoweachmodelaffectsdistributablecashfor investors and the asset management team, please go to:https://RaiseCapitalForRealEstate.com/BonusMaterials Figure out your split by determining overall cash on cash returns for a property. Once you know the overall projected return, you can decide how muchyouhavetogiveinvestorsandhowmuchyouneedtokeepfor yourself. Try a couple of different splits until you land on one that gives yourinvestorsareturninthemidtohighteens,withoutstarvingthe management team during ownership of the property.Keep a list of all of your assumptions, as youll need to list them in your property package or investment summary. We can write disclaimers into the offering documents that all of your assumptions could be wrong, but if you use reasonable, conservative assumptions, you should end up close unless something outside of your control goes wrong (such as a pandemic, interest rate hikes, etc.). Just make your best estimates, use the right disclaimers, and forge ahead.220'