DC 165: Byron Elliot & Marc Cesar - Fund of Funds 101

 Adam Carswell brings on special guests Byron Elliot & Marc Cesar, real estate entrepreneurs, where Adam and Marc have a $650-valued discussion with Byron for his securities attorney knowledge.  

In this episode, Byron and Marc talk about:

• The different rules for capital raising for real estate funds
• SEC regulations on sponsors, issuers and broker-dealers for capital raising 
• How to structure a Fund-to-Fund
• Investor options for Fund-to-Funds
• The difference between 506B and 506C Offerings
• The responsibilities of a Fund-to-Fund’s General Partners and investment team

Adam would like to give a huge thanks to Byron and Marc for coming on the Dream Chasers platform and sharing their knowledge and experience about capital raising and Fund-to-Fund models.

Episode Resources: Adam J. Carswell Facebook Group | https://www.3pillarslaw.com/ | https://reikeyholder.com/ 

Timestamped Shownotes:

02:26 – Host Adam Carswell introduces Byron Elliot & Marc Cesar, Real Estate Entrepreneurs

04:20 – How did Marc find his way into the real estate space?

05:25 – What experience does Byron have with capital raising for real estate?

06:51 – Are there different rules for a Fund-to-Fund based on the state you are in?

09:20 – Do you need specific certifications to become a capital raiser?

11:27 – Can people be compensated for introducing issuers and sponsors?

13:53 – What structure needs to be put in place to form a Fund-to-Fund?

17:37 – Can investors cash-out early in a Fund-to-Fund?

19:44 – Is there a minimum amount needed to be invested for a Fund-to-Fund?

22:45 – How can crowdfunds collect smaller investments from people?

24:14 – What is the right thing to do if the GP shares change after a PPM? 

26:33 – When should you choose a 506B offering versus 506C offering?

29:08 – Can you raise capital for a 506B offering without being part of the General Partners (GPs)?

31:45 – How crucial is it for the GPs to know everyone’s responsibilities?

34:04 – What kind of communication and content should and should not be used for a 506B offering?

39:35 – What is the benefit of establishing a Fund-to-Fund? 

41:20 – How is a Fund-to-Fund structured and how does compensation distribution work?

Sponsored by:  RaiseMasters, the #1 Mastermind for Elite Capital Raisers - Join our FREE Training now!

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