3
Aug. 14, 2023
SUMMARY In this episode of Dr. B Show, Dr. B welcomes and interviews Nic McGrue, a securities attorney and founder of Polymath Legal. They discuss the differences between accredited and non-accredited investors, as well as the exemptions and exclusions for raising capital in real estate. Nic explains the nuances of 506(b) and 506(c) offerings, highlighting the importance of understanding the rules and regulations to avoid legal issues. He emphasizes the need for a strong power team, including an attorney and CPA, to ensure compliance and protect investors. Nic also advises new real estate investors to get educated, find a mentor, and take action to get started in the industry. KEY TAKEAWAYS Accredited investors have high income or net worth, while sophisticated investors possess the resources and knowledge to evaluate investment opportunities. 506(b) allows for an unlimited number of accredited investors and up to 35 sophisticated investors, while 506(c) requires all investors to b…