Crowdfunding or Fund

[Justin Holliday]

A group of partners and I are starting a note buying company. We have a great source of notes that will be very attractive on the open market, as they will come from a source that we do not feel many in the industry have access to.  Our buy each month can be really large, but we are looking at b/w 1.0-1.5 MM per month, the notes will be in Texas, and we are looking to decide on a money raise structure. Because we have access to individual investors or institutional investor/family offices, we are thinking about the option of a typical GP/LP equity structure or possibly an EREIT with a fund that can allow for all types of investors.  Any feedback from the board would be really helpful, and specifically what folks think is the best structure.  The GP/LP structure has an expensive set-up, where EREIT, crowdfunding is not so expensive as a start-up cost.