Setup Of Your Own Private REIT
Hello Everyone,
How would you like to set up your own Private REIT with multiple investors or Private Funding Company? A particular GURU communicates to me that he can teach me show me the wa and show me the money.
This question was posed to me via email solicitation by a ‘Private Money’ Guru [MS] inviting me to attend his $1797 2-day boot camp being held in VA.
From the research I’ve done, it would cost thousands of dollars [$20-$30K] to put together even a small REIT offering; up to ten ‘Accredited Investors’, pooling up to $5 MM.
Does anyone know of a legitimate Home Study (preferred) or Boot Camp that will get me on the right road? Could anyone give me a heads up about the Private Money buzz? Thanks for any help.
gi
My first question is why a REIT? I think you are right about the legal and accounting costs... and this idea does have appeal to me as a capital raising method. But can you achieve the same goals without a REIT?
As a member/manager in a multi-member LLC, I do not know the real advantages of using a REIT... if you take the class, please share your experience. BTW, we use private money in the LLC, but debt (recourse and non-recourse) not equity.
I Googled "set up Private REIT". Of interest:
http://www.thecreativeinvestor.com/ForumArchives/viewarctopic/35352/
http://money.howstuffworks.com/personal-finance/reit.htm
http://www.reit-funding.com/?gclid=CNDajficiZUCFQpjnAodvAyEqQ
sounds like a scam.
it sound excite to heard all these terms thrown around, but what is the real advantage?