What are lp in syndications looking for?

[Chris Howell]

I am interested in learning more on expectations of a lp in a passive multi family syndication?

[Don Konipol]

Quote from @Chris Howell:

I am interested in learning more on expectations of a lp in a passive multi family syndication?

1. Verifiable track record of sponsor in same or similar deals
2. Background/personal history of principal individuals 
3. Realistic pro forma statements
4. Limit on upfront fees paid to sponsor or related parties
5. Reasonable “profit” split between GP and LPs
6. ‘Staying power” of GP
7. Transparency 
8. My familiarity with property type / geographical area
9. Risk adjusted ROI
10. Cash flow projections