All Forum Posts by: Douglas Dowell

I am not sure why they thought that? Perhaps you are going to wholesale and they got confused??? In any case legal shield may be fine for traffic cases but I would ask around your REIA for a lawyer that also invests.

HBD Biggerpockets!!! Thank you so much @Joshua Dorkin for persisting through what I imagine was a interesting start. Thank you for the amazing dedication to excellence. The same goes to @Brandon Turner for simply amazing level of effort and dedication.

Thanks for the transparency @Jennifer Lee ! A very interesting "opportunity" indeed.

Hello Eric,

I did her program and it was decent information. However, I would suggest The complete guide to buy and selling an apartment building by Steve Burgess as an alternative.

Voted! Trying to do Chicago style now...early and often haha

@Karen Margrave I am humbled to share my learning on this topic. Its my opinion your well suited to really scale up using the private money machine.

The oldest business model in the world is money seeks talent. Your track record will permit you to really crush it if you add on a private money machine component.

First, I would say the "form" of the structure really is not the key. We could say a joint venture, tenant in common, LLC, c-corp could all be a security. I think the private money 201 post I am finishing up for tomorrow will be VERY helpful for what you are working on.

To me, it seems the joint venture model will be more common if your working with one or two institutional investors. Where if you raise the deal locally likely working with accredited investors and sophisticated it will be more the traditional syndication model. Really semantics overall.

The key is seeking out a regional broker dealer to raise the money for you might just hyper accelerate your business. I think your in a position to offer something they can sell. The only catch is the upfront diligence/legal fee's.

Someone with little experience would probably not get far. In your case however, I think you could really do well with their assistance.

@Karen Margrave I was referring to the options you have when you offer a security. Your first option is to get it registered. That is VERY expensive but you can advertise to the general public=general solicitation.

The second brand new option is Reg D 506 C. Unlimited ACCREDITED investors and you may advertise but you may not have sophisticated investors in your deal. The other interesting change is you have to do more diligence to show you made sure they were accredited.

The third option is 506 B. (The way its been done for along time). You may not advertise but your allowed accredited AND sophisticated investors.

The fourth option is the intrastate exemption. If the property, sponsor and investors are all in the same state....then the state securities law will govern whether you may advertise or not.

@Account Closed I think the shark tank disclaimer is focused on general solicitation in addition to a cya move. The offering is being made to accredited investors (Sharks) but they want to avoid the notion that they are also pitching the public without full registration.

@Dave Van Horn Thanks for the epic pointers on getting started. That is great info.

Hello Victoria,

Check out the responses from@Bill Walston to my post. He is crushing it in the MLO space. I am very interested in using this method as well.

http://www.biggerpockets.com/renewsblog/2013/09/27/investing-real-estate-without-banks-using-master-lease-option/

Also want to mention I will post part two where I do talk about Jobs act with Gene this week. This is a great post Nick !!!