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Updated about 2 years ago, 11/07/2022
How do you raise capital from non accredited Investors?
BiggerPockets community,
Here is my dilemma.
My primary LPs are friends and family that fall shy of the accredited investor income requirements. They are mostly Spanish speaking small business owners in Pilsen and the lower West Side of Chicago.
Part of my strategy as a GP is to leverage YouTube shorts (Spanish) and MeetUps to widen my investor base.
A 506(c) syndication would make sense but it only allows for accredited investors. And a 506(b) syndication is a great alternative because it permits up to 35 sophisticated investors but I cannot rely on my prior advertisement efforts.
What is the best way to integrate my current LP pool with the correct syndication structure?