What resources and advise do you have for structuring a capital raise to invest in Real Estate?
I would like to do a capital raise. I have expertise in a niche and have a plan set forth with the properties, management, and financing for the acquisitions. I would look to raise $5m to $10m of equity in 2020 to purchase 2-3 assets. I’ve seen capital raises structured many ways and would like opinions and resources on the legal, accounting, and logistics of raising capital. 

The investors we would target would all be Accredited and I know which family offices and individuals I would approach. The investors and properties will be Minnesota based. I want to make sure I structure the subscription agreement and all the mechanisms of the raise correctly. I will hire an attorney and an accountant of course. I need help selecting a lawyer and need to decide how the deal is structured.
[{"id": "f8w3l8d", "text": "It is an extremely in depth process - we just did an equity raise from our F&amp;F fund and the legal paperwork alone was a lot. I\u2019d recommend grabbing coffee with someone in your area who has experience. If you have more specific questions I\u2019d be glad to answer but difficult when it\u2019s broad.", "replies": [{"id": "f8wje1o", "text": "Did you structure the raise as a private placement and issue shares to the investors? \nHow much did the legal paperwork cost?", "replies": [{"id": "faev1s8", "text": "Syndication costs were ~$70k. We sold 90% of the equity in $250k slices and raised about $13M, 50 or so units. Property was $45Mish. Our total legal fees were probably close to $300k when you include the PSA and due diligence. It is not cheap. The bigger the asset, the more expensive everything is going to be. You can get by with not doing some of the extra we did but even then it will still be costly.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "f8w7a9x", "text": "Anybody here done this in Ontario Canada? I would like to learn the process.", "replies": [], "depth": 1}, {"id": "f8wp603", "text": "The hardest part is finding good assets honestly. \n\nI know 3 young guys that had 40 million under them to invest in multifamily and over 18 months later they hadn\u2019t found one deal worth pulling the trigger on because they would always lose the deals to bigger PE groups.", "replies": [], "depth": 1}]