GUIDES

The rules and the arithmetic, written down.

What sponsors and their counsel ask before a scoping call — the exemptions, verification, the published economics of investor leads, and the fee models. No pitch; the sources are at the bottom of each one.

• Regulation D · Real estateRule 506(b) vs 506(c): what a real estate sponsor can and cannot do to find investorsThe practical difference between Rule 506(b) and 506(c) for a real estate syndication or fund: what counts as general solicitation, who can invest, what verification means, and how sponsors switch.
• Investor acquisition · Real estateHow to find accredited investors for a real estate syndication or fundWhere accredited investors for a real estate syndication actually come from — network, referral, content, paid media under Rule 506(c) — what each channel costs, and why most paid leads never become investors.
• Benchmarks · Investor acquisitionWhat a real estate investor lead costs — and what the two-percent conversion rate really meansPublished cost-per-lead and conversion benchmarks for real estate 506(c) investor marketing, worked through on a $10 million raise, and the two numbers that move cost per appointment held.
• Lead response · Investor acquisitionSpeed to lead in investor acquisition: the four numbers that decide a 506(c) raiseWhy the minutes after an investor lead arrives decide a raise, what the response-time research says, and the four metrics — speed to first human touch, contact rate, set-to-held rate, cost per appointment held — a sponsor should demand weekly.
• Regulation D · VerificationAccredited investor verification under Rule 506(c), after the SEC's March 2025 guidanceWhat “reasonable steps to verify” means under Rule 506(c): the safe-harbor methods, third-party verification, and the SEC staff's March 2025 no-action letter allowing a minimum-investment approach.
• Fee models · CompliancePlacement agent, finder, in-house IR or flat-fee investor acquisition: how sponsors pay to fill a raiseThe four ways a real estate sponsor pays to find investors — placement agent, finder, in-house investor relations, and flat-fee investor acquisition — compared on cost, ownership and the broker-dealer line.
• Reference · GlossaryInvestor acquisition glossary for real estate sponsorsPlain definitions of the terms in 506(c) investor acquisition — from accredited investor and general solicitation to speed to lead, set-to-held rate and cost per appointment held.