Joe Fairless

I just want to stay at high level.

One is acquisition fee.

Two, and that's usually about two to three, one to 3% of the purchase price.

Two is the asset management fee.

So overseeing the property management company and just the overall business model.

That can be anywhere between half a percent to 2% of the income that's generated on a monthly basis.

and then to be clear that's top line or cash flow uh top line okay yeah and then three is um you know the the equity ownership that you have in the deal and that varies greatly depending on how you structure it so for the first deal i did the 168 units um i got a check for 20

$2,000 or $23,000 at closing, which is, if you're doing the math, the purchase price was $6.35 million.

So if you're doing the math, it was much less than 1%.

And that was just to get things going.

It was my first deal.

No, not really.

And in fact, I didn't realize that there was such a thing called an acquisition fee until after I'd spoken to a couple of investors.

And so really I had to kind of- And they said, Joe, what's your acquisition fee?

You're like, oh shit, okay.

Yeah.

So yeah, it really was the thing that sold it.

Well, there are many things, but I'd say to answer that point was the alignment of interest.

with, um, with the other team members or other people who are, who are investing alongside.

So I got the brokers who shared, who showed me the deal to investor commission in it.