As has been noted in various conversations here, my challenge with the capital raiser/FoF model is that many of these groups are not offering any better terms to their LPs than the LPs could achieve on their own, given a lot of the groups the FoF raise for have very low minimums, themselves. 

There are two programs, Personal Mentoring (GPs) and Foundations (LPs).

If Spark creates an entity, operating agreement, blue sky filings, SEC filings, etc, that all costs money this is cost a, presumably, the LPs are reimbursing for.

Hoping both LPs and GPs can weigh in to help newer investors sharpen their due diligence skills

Ya no retirement for us old dogs.. its too much fun and you need to do something to keep stimulated in my mind.Also I have seen many of those type of storage facilites all over the US as I travel to the markets I work in..

What I cannot understand is why LPs trust GPs that don't know what they want to be with money. 

@Brian GarrettWe've invested as GPs and LPs in larger multifamily properties in Florida and Texas in the past. 

But hey, I know a million LPs that would actually see this as a positive and potentially agree to a higher fee knowing its only payable out of the projects upside!

A big part of getting booked is stimulating the OTA algorithms not just being a great property.Etc:)I hope that clarifies my "competition is not necessarily competition" statement a little better!

Maybe some GPs can intimidate their own LPs in private.