How To Pool Money From Private Lenders
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Alan: The interesting thing that I picked up is so many folks have a little bit of the fear because of the confusion on this. Basically we as real estate investors shouldn’t shy away from this we just need to make sure we understand what the regulations are in our state and comply with them. The bottom line on this is the SEC is out there looking for folks that are committing fraud.

Ralph: Exactly.

Alan: They will help and encourage us the small business owner to help grow our business. And just like you said if she would call down there they’ll send her out the forms right away and they’ll actually work with her to help her to guide her in the right direction the way I understand it.

Ralph: Absolutely. No SEC office is going to put in writing or tell you over the phone a “legal” opinion. That’s not their job and so they won’t do that, but they will give you guidance. A lot of them have really great websites. Some of them even have publications you can download or that they’ll mail to you. A few states even have workshops and seminars and conferences for small business owners who want to raise money from the public. So two concepts here, real fast. One is accept that these are securities and the other is that is manageable. It’s doable.

Alan: So to walk her through the steps....