b'Chapter 29How Cash Flows in a Syndicate or Fund What Bank Accounts Do You Need? First, you need to set up bank accounts for every entity in our syndicate, including both a checking and savings account for the syndicate or fund entity, a checking account for the asset management entity, and a checking account for any SPVs in your organization chart.Where to Collect Investor Funds The Issuers Bank Account You want investors to deposit their funds directly into the issuers bank account or a securities escrow account. When the time comes to close on theproperty,youwillwireexactlythefundsneededforclosingtothe property escrow.You should have raised extra funds for acquisition fees, working capital and reserves, capital improvements, etc. that will remain in your companys bank account; some of which you will disburse post-closing (to reimburse the asset manager for pre-closing expenses or acquisitions fees), and some of which you will hold while making capital improvements or operating the property.The last thing you want is to have excess funds you have collected from investors show up on your closing statement as income to your company. 273'