While returns vary, we see on average cash returns in the 8-10% ballpark and an internal rate of return (IRR) of 16-20%. The IRR is the return of a property at sale. Let’s take an example of the cash returns on what’s called a “2x multiple.” In this scenario, if you invest $50K (which is the most common minimum cash investment in a syndication) at a 2x multiple, you will double your money in 5 years. An average rate of return is also nothing to sneeze at, with the total return over 5 years divided by 5. However, it’s best to measure cash flows by the IRR as the bulk of an investors returns arise during the year of sale. For example, a “value add” syndication in which the sale of the property in year five may yield greater cash flow than the average annual return year over year. Enter your text here...