b'thumb is to match the preferred return, if applicable, so investors will perceive the amount as fair. 7.Real Estate Brokerage feeAn asset manager who is a licensed real estate broker or agent in the state where the property is located may also earn commissions or fees for providing licensed brokerage activities to the syndication, including:a.Commissions on purchase of a property.b.Commissions on sale of a property. c.Property management fees.Expense Reimbursement Inadditiontothefeesanddistributions,anassetmanagercanget reimbursedfortheat-riskcapitalitcontributedtothirdpartiesduring organization of the company, due diligence, acquisition or operation of the property, and for travel expenses, and legal and organizational expenses (i.e., syndication or fund formation and legal fees). Generally, in order to get reimbursed, the asset manager (or its members) must provide receipts or invoices for such expenses. Key Takeaways Why syndicate real estate? Because you can make a good living doing it,whileyouarealsohelpingyourfamily,friendsandotherinvestors achieve their investing goals. Instead of just getting a return on your own cash investment when you invest on your own; you are instead able to earn fees and a share of profits 18'