Does 506b need a security lawyer?

[Ray Li]

I'm considering raising funds from a group of friends and families to purchase a small multifamily property. Since I personally know all the investors, it should be a 506b I assume. In this case do I need a licensed security lawyer to help prepare the necessary documents? Or can I just get a real estate lawyer to form a LLC and prepare the membership docs?

thanks

[Alina Trigub]

@Ray Li

Prior to jumping into 506b, speak with security attorneys and determine all the fees associated with it to see if your deal still makes financial sense.

As far as DIY, whenever investors are involved, always work with an attorney to prepare the legal docs (PPM and everything else needed).