Real Estate Syndications for raises under $1M

[Amy Wan]

From my research, it usually costs a minimum of $10K (and sometimes several times that) for a securities attorney to draft offering documents (PPMs and the sort) for real estate syndications, which means that deals below a certain threshold don't make sense to syndication because the cost of legal fees eats into the deal too much.

Is this a legitimate pain point? What's the threshold below which a syndication doesn't make sense? Are the legal fees too high a hurdle for beginner syndicators? What would you pay for legal help on a raise under $1M?

I'm interested in ways to lower the legal fees for smaller syndications, but still provide folks with a proper set of legal documents.

You can also private message me if you dont want to throw numbers out there.