Which waterfall to use

- So, which waterfall framework should you use…for your investment?…Well, it really depends,…and it depends on a couple of things.…One is is there an Albert in that investment?…Is there somebody that's kind of the project manager…and doing most of the work?…Because is there isn't, and everybody's putting in money…and doing the same amount of work;…or everybody's not doing the work,…where you're all investors and basically,…somebody else is getting paid to just do the deal for you;…or your group is just investing together,…and nobody's doing something above and beyond what anybody…else is doin', you probably don't need a framework for that.…

However, I don't think that's the typical case.…Typically, you're going to have a situation…where somebody's doing more work, you're going to have a case…where there's like an Albert and then everyone else.…So, which framework should you use will depend…on whether you're Albert or one of the investors.…But in either case, you want to pick a framework…where the work that the Albert is putting in…