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- Debt vs. the small banks and hard $ lenders
- Equity vs. the private equity funds
- Fund-level fundraising
- Vs. friends & family, family office & small institutional $$
- The capital stack
- Comparing the role of the brokers
- Monetary limitations per deal and what that means
- What about blue sky regulations?
- Serial offering issues
- Who do you need to register with?
- Costs vs. Benefits… When is it economical to use these new regulatory structures?
- “Mini IPO”
- Can crowdfunders aggregate a few developer deals under Reg A?
- Issuer liability
- Investor reporting
- Privacy of shareholder financial information
- Reg A DSTs
- What type of ecosystem needs to be in place to insure Title III works?
- Title III due diligence & transparency best practices
- Update on accredited investor definition
J. Martin Tate
- Choosing a local or national platform
- What should you look for in a landing pad website?
- Marketing services performed
- Deal minimums/maximums
- Real estate-only vs. multi-asset platforms
- And the reverse… What kind of due diligence should a good portal be doing on you?
- Pre-funding & skin in the game… Is putting money where your mouth is as good as due diligence?
- Documentation review
- Measuring track record in this new industry
- Independent due diligence … Is it worth it?
- Discounted rates… Do they exist?
- Platform reach
- Evaluating platform experience & your deal
This case study will focus on the listing, the pool of potential investors and the uniqueness inherent when using Regulation A+. They will also openly discuss the advantages, disadvantages & challenges encountered as they prepared this offering, as well as why Cherif decided to go forward with it. They’ll close with a recap of Cherif’s grand plan to promote UGFInc.com on CrowdfundExpress.com and expose the offering to a worldwide base of investors.
- Structures and their implications
- Blind vs. semi-blind
- Cash + kicker vs. preferred return
- Track record impact
- Fees, promotes and who gets what
- Considering non-accredited investor investments
- Do you need to have raised capital in a fund to participate in a fund-level raise?
- What do your non-crowd client think?
- Terms of crowd vs. non-crowd clients
Kim Lisa Taylor
- Preferred equity investments come in many shapes and sizes, What are yours?
- What are the terms? Target rates?
- Profit interest vs. pref return
- Pref equity vs. debt
- Bonus upon completion
- Payment calendar options… Maturity dates and absolute payment obligation
- Vs. Mezz or Sub debt
- Default/Non-payment penalties and control
- Hard vs. soft structures
- Senior loan issues
- Interest payments… Right away or once cash flow generates
- Negotiations with the portal
- Evaluating the role of the broker/dealer in crowdfunding
- Syndication regulations you should be aware of
- Accreditation confirmation
- Crowdfunding portal/broker dealer Joint ventures: What does it mean to the developer? RIA?
- 506d… What to be aware of
- Private placements
- Reg A filings
- Platform registrations
- Reg D concerns
- FINRA crowdfunding regulations
- Intrastate updates
- What was your decision matrix?
- Costs vs. time spent on all approaches
- Did you reach your fundraise goal?
- What services does a white label provider provide?
- Evaluating the advertising-led, free sites
- How have the results been in different environments?
- Can you use multiple routes to market on the same deal?
- How much time/effort/$$ did it take to make your own
- Licensing platform software… What are the deal terms?
- Comparisons on relationship with investors
- Pushing parts of deals to other platforms while using your own
- Long-term cost vs. gains of having your own platform
- How did you find investors?
- Using a broker dealer… The pros and cons
- Choosing the right platform for your deal
- How to make sure your project can be sold
- How much $$ can you raise?
- CMBS defaults
- Looking for bad actor partners
- Technology guys vs. real estate guys
- Portal senior management structure
- Interstate deals: What does it take for a New York company to go over the George Washington Bridge and do a deal in New Jersey?
- Biggest campaign killers
Experience the next generation of crowdfunding... collaborative efforts made up of experienced developers, operators and syndicators sharing resources. By sharing infrastructure, databases, and company stock, all can raise equity and debt from experienced institutional capital providers as well as the crowd. See and hear how this new approach will make it easier and more cost effective to execute your crowdfunded deal.
- 3,5,10 years… $20, $50, $100 million… Long term financing prospects
- Value-Added projects
- Construction loans
- How are institutional clients playing the crowdfunding card?
- Fund-level investments
- Mezzanine loan products
- Comparing terms of construction loans with banks
- What is your sweet spot?
- Institutional investors and crowdfunding
Joaquin de Monet
- Liability & responsibility… Who has it? Does it matter since everyone will get sued anyway?
- Determining investor suitability
- What does Reg A say about the marketing of an investment?
- Blue Sky laws to consider
- What should be in the marketing message?
- How much do you recommend in your client’s real estate portfolio- What I the breakdown by asset? How does crowdfunding work in?
- Self Directed IRA & Pension investment in a crowdfunding environment
- Investor interest vs funds, Non-traded REITs/DST Investments
- How many project do you recommend to your clients to insure diversification?
- Are family offices interested?
- Stabilized vs. non-stabilized properties
- Cash out on equity vs. adding debt
- How is it determined how much cash you can take out?
- Structures vs. straight debt or equity deal
- Debt refinancing
- What your capital stack should look like?
- Baby boomers vs. Gen X vs. Millennials
- Real estate is local… Are its crowdfunding investor?
- Accredited investors awareness
- Education level
- Mobile vs. desktop activity on portals
- Male or female?
- Are crowdfunding investors stock market investors?
- Where have you been getting the most bang for your buck?
- Creating a total marketing plan
- Using a lead generation site
- Traditional media approaches
- Regulatory restrictions to be aware of
- What should be present in a landing site?
- How much track record do you want to present?
- Where everybody knows your name…Anonymous developers on landing pages… Does it work as well as having a name?
- How much input to marketing does the owner have?
- Marketing costs vs. non-crowdfunding approaches
- Customer acquisition costs
- Non-Reg A+ solicitation
- Customers interface for the real estate owner
- Non-monetary benefits of crowdfunding… Do you feel you heightened your brand awareness?
- What have you done with your increased customer base?
- Document onboarding
- Investors circumventing the portal to invest in your deal
- Deal investor diversity… Was it important?
- What was your biggest surprise?
- Portal flexibility
- Reporting to the portal and investors
- Will you be crowdfunding again? What changes will you be making?
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