Must my investors be accredited investors?

[Camden Smith]

I want to syndicate a deal that will be around $600,000 (2 duplexes). Must my investors be accredited investors? What are the rules regarding this.
I plan to pool the money with a few friends of mine. Can we do this without them being accredited investors?

Any light on this topic will be very helpful.

[Josh C.]

Lots of other ways to do deals with friends/family without syndication and it’s done all the time. I frankly don’t understand way people are always afraid to give opinions on an opinion website. Always referencing cases. I’d be interested in seeing a case where a random person gave advice or his/her opinion on an advice forum like this and got sued.

We do joint ventures to share profits and if they are people you want to do business with a long time a LLC with an operating agreement is an option we have also done this. Depending on if this is a lot of money to you or not I’d go with attorney to draft up stuff for you (budget $1500 or so)

Now if you are raising money from people you don’t know there are tons of rules and other things to consider. But for people you’ve know for a while less rules and simpler.

Good luck!