BiggerPockets Money Podcast · Tuesday, September 1, 2026
Nick Morales clarified that his real estate platform is 'fee-less,' meaning he doesn't charge asset management or acquisition fees, only standard property management fees. This structure allows for a 50/50 split with his Limited Partners (LPs), who typically receive their capital back within 12 to 18 months after asset stabilization.
“So I'm a fee-less platform. So I don't charge asset management acquisition fees, any of that stuff. We just charge the normal property management fees, which is why I have a 50/50 split across all my deals with my LPs.”
“They also traditionally are getting their capital back within 12 to 18 months after we stabilize the assets. So, you know, their preferred return is already been given to them. So, you know, at that point, it's just a straight 50/50 split stabilized.”