My attorney know the condos board are only legally in charge if so many condos are sold by the sponsor, a number they have not met yet.

We have started a real estate franchise and looking for a broker to sponsor our LLC. 

Boy if this projected return IS inclusive of the gains upon sale (and I did ask the sponsor that question promptly by email), then we are talking about some very notable and disappointing cap rate compression, huh?!

Agreed @Justin G. and I will add a few more flavors of diversification an investor can achieve:Project type (Value-add, stable cash flowing, etc)Sponsor diversification 

After the initial vetting of the sponsors and deals it is completely passive. 

They have verified sponsor profiles and they monitor deals so you can invest with confidence.

This is much like a reit, but you go direct to the sponsor who is managing the asset.  

eXp Realty is a brokerage you can look into as we're very investor-friendly and have low production requirements, however, any sponsor (and Broker) you sign under will certainly expect a minimum of 2 (non-personal) deals a year... 

@Jacob Fussell If you get your real estate license in Louisiana, you will have to be sponsored by a broker and cannot be "independent" as you mentioned. 

A lead syndicator or sponsor team does the day-to-day management (i.e., all the active work), and in return, they get a small share of the profits.