AboutBrian Bocchieri Expertise Brian's expertise is specialized in commercial real estate financing.
The majority of his experience is in the Multi family arena, Specializing in apartment building/complexes, new construction, rehab, acqusition and refinancing.
Brian can also assit in most types of commercial transactions such as triple net properties, retail centers, and office complexes.
Experience Brian was an experienced developer of both commercial and residential projects before entering the commercial financing business. His knowledge comes form real world hands on experience.
Education/Credentials BS in busines management, Commercial Real Estate,
real world experience as a commercial real estate owner and developer.
I am getting into real estate and I want to start pooling funds together to purchase an investment property. I was going to put an Investor Summary Packet together with all the info on the property (current, market, pro forma, etc.) and distribute to potential investors. However, I was a little unsure if there are any rules for offering "shares" of a real estate investment. Can I just go ahead and start asking people and distributing this packet or are there rules and disclosures I need to make? Also, can the shares simply be done in in the Operating Agreement of the LLC (I will have an attorney write that)?
Thanks for any help!
Mike
Answer Yes there are rules you will need to follow (ask your attorney) in order to raise money you will need to have an "arms length relationship" with them, meaning they are not strangers you meet on the street. These of course can be friends and relatives, friends of friends and people you have a causal relationship with. You will need to show a paper trail and evidence of the relation if you are called on the carpet. One you move beyond this group you will fall into a different category and different SEC rules (check with your attorney). There is more to this but if you are among friends and family you can stay safe.
As far as the shares depending on your state rules they should be able to be stated in the operating agreement.
I hope this answered your questions
Wishing you all the best
