Is this fair?? 1.3 Million syndication structure.

[Cole Johnson]

Hey BP,

So I have recently purchased a 4-plex and its going great. Now im on to a 46 unit apartment building. I am partnering with a bigger broker in town that is into real estate. We are going to be offering on this building and are going to be raising money to fund the down payment. This is looking like a great deal, being conservative the cap rate is 10% and ROI is 13%. I just got done sitting down with him and here are my concearns.

There is a 15% deal structuring fee. This will be split 3 ways equally.

1.ME

2. Him

3. His brother

This seems like a high deal acquisition fee to me. The way we get it is him and his brother will do everything up to closing. After closing they are out and I manage the building. I will also get a 5% managing fee on the net income, which i can defer to a management company at any time.

All of us are going to be puting money into the deal as well and are going to have to raise around 275k from investors.

Should I ask for more anywhere else? They dont have any other rental properties but their family owns ALOT.

What do you think is this deal fair to me?