All Forum Posts by: Jillian Sidoti

@Ryan Franklin - Congratulations! That's awesome. I wish you the best of luck on closing and geting through the process! Stay calm. Breath deep.

Hi Brian, California is a beast when it comes to taxes. Do you have a current LLC in California? What I would recommend is having an entity in Ohio purchase the properties and then have your California LLC manage the Ohio LLC. The thing about California is that if you have an owner that owns 30% or more of the LLC, then the state of CA wants you to register it in the state of California (so they can get that juicy $800 FTB fee.)

However, I would most definitely consult a CPA or tax attorney about this. I do know some in San Diego, Temecula, and northern California. I am not a CPA or tax attorney.

Hi Steven - are you just looking for an example? Like something to look at? You could probably go to any number of crowdfunding sites and see what is on there. This will give you a nice variety of seeing how things are structured, etc. You will also be able to see the exhibits that are associated with each offering. 

Here are some sites - I am not associated with any of them: 

www.realtyshares.com

www.crowdstreet.com

www.realtymogul.com (although these might not be what you are looking for). 

Try RealtyMogul or Fundrise. I have invested in both of them and you can invest in their funds so you have some diversification. 

Good Luck!

@Kevin Bull - do you have any comments on this? I think that would be helpful to @Brian C.

@Bryan Hancock - no, they won't qualify. that was my point.

Everyone - I would recommend a minimum of NO LESS THAN $10,000. It's always those small investors that are the most trouble. Most of our minimums are $25,000 to $50,000. I just did one offering with a $250,000 minimum.

@Julian Buick - the loan was a rehab loan. The borrower (my client) borrowed money from the lender. The property was rehabbed, then rented, then sold. 

@Brian C. our firm does a lot of work with Crowdstreet. Depending on the make up of your fund, I would most likely recommend them. There are now a bunch of new marketing firms cropping up that could help you with direct sales from your own site using something like FundAmerica or @Bryan Hancock's software. If you really wanted to do a bigger fund, you might want to research the possibility of using a broker dealer. We use a couple of BD's for deals here, but they have to be at least $20 million funds and the cost of using a BD can get expensive. Let me know if you have more questions.