Syndication to nonaccredited or sophisticated investors
Hello. I want to start to syndicate and I have several family and friends who are interested in investing in me. I also hear many times on the podcasts that people go to friends and family to raise money on their early investments. But it seems like those friends and family would have to be accredited or "sophisticated" investors to not violate SEC laws. Is there something that I'm missing? I know I could do an LLC with them being limited partners, but was specifically looking at syndication because I think I'd need a larger number of investors than what's generally accepted as LPs in an LLC.
Thanks for any help!