Real Estate Syndicate Fees

[Bon Osonwanne]

I want to start a pool/syndicate with other investors, and I'm wondering how to structure the asset management fees, shared by myself and two other member-managers, with up to 35 investors:

Internal Rate of Return (IRR): 20%

Syndicate fees:

• 50% of rental returns above 20 percent IRR
• 50% of sales proceeds above purchase price

Please let me know your experience, if you think this is too much, and advise/resources to help me decide.