In the near future I'd like to sit down with one to discuss the finer points of raising money and how that can be advertised, along with possibly having some documents reviewed. I'm not raising money at the moment, just need some questions answered. Thanks.
@Marcus Brown A consultation is typically free. Some attorneys will even do repeat free calls as the details are ironed out. If you are spending the capital on a syndication project, the hourly rate is comparatively not of big concern.
That is my experience with securities attorney's. However, other attorney's charge from $200-$300 an hour that I've seen..
Hourly rates vary and some attorneys will do a flat fee for a for a syndication within certain parameters for $10k and up. I am real estate and securities attorney as well as sponsor and happy to provide a free consult if you wan't to dm me.
The answer is, it depends on who you work with.
AM100 firms usually charge in the range of $50K+ for an offering, but its because their clients are usually large institutions who can afford that.
If you're starting out, you likely want to go with someone who specializes in real estate syndications. There are really only a small number of firms who specialize in this. Most of us do flat fee based on raise amounts, with some variations here and there for non-standard deals, extras, etc.
Base price is $8500 for a sub-$1M raise, and it goes up from there depending on how much you're raising.
First consultation is free, different firms have different policies on subsequent conversations. Happy to chat if you'd like.
Depends on what you are looking to do. If you are looking for a full private placement memorandum for a syndication -- I have paid anywhere from $12,000 to $20,000.
I started as a real estate investor in 2000 and went to law school after the crash. My practices is real estate, securities, business, and corporate finance. Syndication paperwork is NOT the place you want to be cheap. If something goes wrong, remember your passive investors have capital to hire lawyers, too.
Figure $15K for a fairly generic private placement. Getting fancy with different classes of passive investors, convertible instruments, elaborate payout waterfalls, or complex conditionals will add costs. Additional services like drafting or reviewing your deck or financial modeling or coaching your pitch are also added at additional cost. And while I don't offer a free consultation, it is at a lower hourly rate and I am willing to chit-chat for 10-15 minutes at no cost to see if we have a fit.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you