All Forum Posts by: Eric Hempler

I think I'm also getting confused about the terminology, offering. 

When I hear an offering I'm thinking of selling. 

My strategy is to buy and hold and offer two types of programs for lenders

- Those that are looking to let their interest accumulate and cash out after five years

- Pay a monthly payment each month. 

These two ideas will have different interest rates

I'm just looking to raise money in Minnesota for now. 

I've been weighing whether to start with duplexes or small apartment buildings. If I start with a small apartment building I think I'll blow past the $1 Million pretty quickly. Even a handful of duplexes might blow past that. I'm also not sure how much time it will take to raise funds. 

My rationale was to start with the smaller threshold with SCOR and/or 504 and then do the memorandum so i can' raise more than $1 Million.

I wanted to make sure I understood something correctly.

If I fill out the SCOR I'm limited to raising $1 Million, but with 504 Form D I can raise up to $5 Million within my own state?

Sorry, but you're incorrect

I need an SEC attorney because I'm raising money to invest in real estate 

I'm in Minneapolis. Wouldn't I want someone local to help me fill out SCOR and other paperwork?

Any recommendations for an SEC Attorney in Minnesota?

Are you saying legally I can only offer certain interest rates? This seems to be repeated over and over in this thread. 

I do have an SEC attorney bookmarked. 

This doesn't quite sound like the material I've been going through. 

The private lenders discussed are typically individuals looking to get a better return than they would in a CD, IRA, or 401K. This was the target audience discussed anyway.

In the material, I was going through the mentioned offering 6% to those that wanted a monthly payment and 8% to those that are willing to let their investment accrue. 

I'm sure there's more than one way to do this. Just not sure the discussion is quite going in the direction of what I was originally trying to research. 

The other item was that he really only offered two options for interest rates versus having all kinds of different options.

@Taylor L., 

I'm not familiar enough with this term to know what I'm looking for in search results. 

I have course material that I compelted that talks about how to get private lenders and material on pooling funds that I'll be reviewing this weekend. 

I guess what I was trying to drill into was how I should go about setting my interest rates for those that lend to me. 

Apartment buildings and smaller retail spaces that I feel will have permanent tenants. 

I'm not sure what specifics you're looking for. 

I was thinking of starting with 4 unit buildings, but I think I'm learning toward 6 - 30 units in the beginning. At least that's what's common in my area. Not sure when or if I'll pursue the big complexes in my area.