The supply expansion calmed home-price appreciation after an extended hot streak.

Is it old and calm or young and chewing through drywall?

If the cash flows are split in a waterfall structure like you indicated, a majority of the cash flows would go to the GP.GP has to pay out the hurdle essentially.

Your letter might get "accidentally" brushed into the garbage can in 10 seconds flat depending on the mood of the person who reads it.You'll catch more flies with honey than vinegar...I would be neutral, calm, and objective -- state the facts only and use "please" a lot.

For example, in Arizona, they only publicly list owners who own 20% or more.Texas is similar.Other states have much greater privacy.However, there's more to many operating agreements than just the ownership percentages.In some deals, there can be waterfall provisions, overrides, preferred payments, sweat equity provisions, how much money was contributed to the deal and more.Quite simply, this information is none of the Seller's business, and the only reason the title company needs to know it is to verify that the parties signing on behalf of the Buyer are authorized to do so and that they're acting in compliance with their governing documents.Just try asking the Seller for a copy of their operating agreement and watch them resist, all for the same reasons.In 27+ years, I don't think I've ever had to give a copy of the operating agreement to parties on the other side of the deal.

We have quartz countertops, bifold aluminum doors (4 large open doors), beautiful new kitchen with crown molding cabinets, waterfall kitchen island, ancient stone wall in our living room, all hardwood floors, etc. they are comparing my house to houses with carpet, old cabinets/kitchen, etc.

Again, other might feel differently here.b) Skin in the game: as a conservative investor, I understand that the dirty secret of industries that the waterfall compensation is in the line with me and incentivizes sponsors to take more risk.

NC I think had one of the big famous bust by FBI for colluding to stymie competitive bidding.. it was rampant in Oregon in my day.. although it calmed way down with a lot of new players and those that charge to bid and buy for others..  

Listen to them calmly, and try to learn what their real concerns are.

To do that, you'd need to set up the waterfall/allocations to be something like the following: 1.