![]() ![]() I like you, all this.” And then they listen. But when you pick up the phone and you say that, they're like, “I'm listening. We generate a lot of leads - and I would say that we're not really in crowdfunding, we’re a lead generation machine - but many times until I pick up the phone or somebody at IR picks up the phone and says, “Hey, we got an interesting deal,” they're not going to look at your stuff. There's a very fine line between today's, what I'll call crowdfunding world, and the way business was done 10 years ago. You have to grab people's attention and say, “Hey, look at this.”Īnd by the way, there's a lot of investors out there even in today's day and age. And that's why you have to go to other forms of communication: webinars, podcasts, video, even personalized emails, things like that. It's a lot of noise and in today's day and age, it's very difficult to figure out ways to stand out with email. There are times to do long pieces of content, but when you're marketing to people, what do you want them to know and get to them quickly? I can tell you in the morning, what do I do when I wake up like everybody else? I go through my emails, select, delete, delete, delete, delete, delete. People have very short timespans so you have to give them the information they're looking for quickly, in bullet points, highlights, bold. You have to just kind of cater to the philosophy that nobody reads anything you put out. Over the years I’d read marketing materials, I know what I react to. MICHAEL EPISCOPE: A lot of it is common sense, honestly, and it's being an investor. What do you think it is about your background that made that so clear, just so obvious that you could leverage the Internet? Is it because of your background trading or the way that your edge in that world was flipped by computers, etc.? I mean, is this the old school kind of thing? Everyone's used to raising money in person. Most of the people I know have been in real estate for 30 plus years. One of the biggest challenges that I find is that real estate sponsors really struggle to understand how powerful actually communicating online is and can be. The laws that govern the selling of shares in a company to form a syndicate are securities laws and hence the formation and oversight of real estate syndicates falls under the jurisdiction of the Securities and Exchange Commission the SEC.ĪDAM GOWER: You also make this intelligence accessible. These rights and responsibilities include definitions of how shareholders will receive their invested capital back, and how cash-flow and profit from the project with be distributed. The developer then sells different classes of shares that come with them certain rights and responsibilities. An SPE is formed by the developer that itself owns the real estate being developed or renovated. These are called Single Purpose Entitiesor SPE’s, for short. Real estate syndications are structured by forming a legal entity, a company, often specially formed to handle the development of a single project. The resulting group of investors is known as a real estate ‘syndicate’ and hence together they form a real estate syndication. The way they do this is to solicit investment from other private individuals or equity providers. On real estate projects which can be very large in dollar terms, reaching tens or hundreds of millions of dollars or more, there are very few developers who have the wherewithal to provide all the equity capital required by themselves they must seek outside capital sources to provide the equity they need. ![]()
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