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Updated about 1 year ago,
Syndicating with non-accredited investors
As I have been growing my investment portfolio I have had multiple friends and family approach me about investing together. My business partner and I have decided we would like to invest in an apartment by syndicating funds [under506(b)] with friends and family. I am unsure of the actual financials of each of the potential investors and would not want to deny them the opportunity do to them not being accredited. I know that in order to be sophisticated you can either be accredited or "have sufficient knowledge and experience in financial and business matters". How do you determine that the person "has sufficient knowledge and experience in financial and business matters"?