Can i publicly advertise that im looking for 20 partners for a 2 million dollar apartment building instead of syndicating that money?
If they are truly partners who have actual roles and responsibilities and voting rights in the company, I would think so. But I'm no lawyer.
It would be hard to justify 20 partners. Maybe 2-3. What makes you want to structure it that way? Is it just the fees associated with setting up a syndication?
Sounds like a syndication. Yes you can publicly advertise that if it is a 506c type offering or other qualified offering that can be publicly advertised.
@Devin Mann that sounds super sketchy. If the deal goes well it’s like steph curry jacking up a three from half court and everyone is fine. If the deal fails you look like you know what and everyone is going to have recourse to get their money back.
Will they be general partners or limited partners? Will they be involved in the day to day operations?
If they're not going to be involved as general partners, you're offering a security and will need to offer it up as such or be exposed to the ire of the SEC. With that said, you can advertise to accredited investors through qualified offering and the cost may not be as much as you think.
Meet in person at investment club. If you post a sign on the street it would sound like a scam looking for 20 suckers.
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