Podcasts about Regulation D

Join me for a detailed discussion about the world of real estate syndication with Tilden Moschetti, Esq., syndication attorney focused exclusively on Regulation D offerings for real estate syndicators, business owners, entrepreneurs, and private equity funds. Tilden shares his wealth of knowledge on how Reg D offerings are revolutionizing the landscape for budding sponsors and managers. With their straightforward regulatory requirements and minimal SEC involvement, Reg D offerings are quickly becoming a go-to strategy in real estate.He offers practical insights into the dynamics of real estate syndication, showcasing the pivotal role that personal relationships and informed decision-making play in a successful syndication business.And clears up common misconceptions about raising capital, particularly from friends and family, and emphasizes the critical importance of understanding securities laws to ensure compliance and protect investors. We also take a closer look at the differences between Regulation A and Regulation D offerings, exploring their functionalities, implications, and legal frameworks - offering a glimpse into the regulatory evolution that's shaping today's investment landscape. And understanding the operational nuances between closed-end and evergreen funds under Reg D, focusing on the importance of fair value marking to prevent dilution.This episode provides an insightful forecast of the next two decades in real estate finance and how strategic financial decisions will drive the evolution of the industry.Connect further with Tilden Moschetti on LinkedIn https://www.linkedin.com/company/moschettilaw/ or https://www.moschettilaw.com.Schedule a consultation with Bill to ELEVATE (https://billbymel.com/investor/) or REVIVE (https://billbymel.com/advisor/) your portfolio today.To learn more, visit:https://billbymel.com/Listen to more episodes on Mission Matters:https://missionmatters.com/author/bill-bymel/

Gene has been in the commercial and investment real estate business continuously since 1972 and in the legal profession since 1996.Awarded the CCIM designation in 1977, Gene continues to serve as a member of the CCIM faculty and achieved Senior Emeritus Instructor status, upon 40 years of teaching. In 2002, he was selected as the Robert L. Ward Instructor of the Year in the Institute. In 2005, Gene was awarded the Victor L. Lyon Distinguished Service Award for his many years of outstanding contribution to the Institute's education program.He is a member of the California Bar. The founding partner of Trowbridge Nieh LLP, Gene's law practice concentrates on the syndication of commercial and investment real estate, through both debt and equity. As a former syndicator, who for ten years raised investor capital; he served as the sponsor of sixteen investment groups, by raising equity from investors, through registered representatives in the broker dealer community, once sending out 1,676 K1s in a single year.He was responsible for the organization of those investment groups; the acquisition, management, and disposition of the real estate; and communications with the investors.Because of his hands-on syndication experience, Gene can communicate with his clients on both the technical and practical aspects of state and federal securities laws. Between Gene's individual syndication background and the firm's legal practice, the partners in the firm have written offerings of more than $5 Billion in monies raised. The median offering size is $2. 5 million. His practice writes offerings under Rule 506(b) and 506(c) of Regulation D, Regulation CF, and Regulation A+.He has trained and mentored three different law partners, in syndication and crowdfunding, since 2008. He has delivered more than 250 live seminars on group ownership, exchanges, and taxation audiences across the country; his articles have been published in various real estate media outlets and he is a highly sought-after speaker on the topic of real estate group ownership.He authored his first book It's A Whole New Business in 2005. The Fourth Edition was released in 2021 and is available now at tnllp.com and Amazon.He and Kay have been married for 50 years and have two daughters, Amy, and Emily. He enjoys music, travel and has run 37 half marathons since turning 60!Chapters00:00 Introduction to Gene Trowbridge01:05 Current Market Insights for Passive Investors03:51 Diverse Investment Opportunities Beyond Real Estate05:53 Understanding Private Placements and Regulation D09:09 The Evolution of Securities Regulation14:56 Impact of Economic Crises on Investment Regulations19:52 Future of Accredited Investor Definitions21:44 Guidance for New Syndicators22:22 Understanding Syndication and Securities24:48 Control and Decision-Making in Partnerships27:20 Investment Contracts and SEC Regulations30:04 Key Questions for Passive Investors33:27 The Importance of Relationships in Real Estate37:17 Investing Strategies and Debt Funds39:04 outroRANDY SMITHConnect with our host, Randy Smith, for more educational content or to discuss investment opportunities in the real estate syndication space at www.impactequity.net, https://www.linkedin.com/in/randallsmith or on Instagram at @randysmithinvestorKeywordssyndication, private equity, accredited investors, real estate, securities regulation, Jobs Act, passive investing, market trends, due diligence, investment strategiesSummaryIn this conversation, Randy Smith and Gene Trowbridge discuss the current state of the syndication market, the evolution of securities regulation, and the importance of due diligence for passive investors. Gene shares insights on the role of accredited investors, the impact of the Jobs Act, and key considerations for new syndicators. The discussion emphasizes the significance of relationships in the investment space and provides practical advice for both syndicators and passive investors.

In this episode, Kim Lisa Taylor sits down with Attorney Judith Villarreal to unpack the critical do's and don'ts of securities advertising. Whether you're a real estate syndicator or a fund manager raising capital under Regulation D, Rule 506(b) or 506(c), this conversation will help you avoid the common pitfalls that could land you in regulatory hot water. From misrepresentations and omissions to proper disclaimers and dangerous buzzwords, Judith shares practical advice on how to stay compliant when promoting your offering on websites, social media, newsletters, email campaigns, and more. Tune in to protect your reputation—and your deal. Chapters:Introduction to Securities Advertising Compliance (00:00:02)Krisha Young introduced the podcast focusing on raising capital legally and avoiding securities advertising pitfalls. Kim Lisa Taylor and Judith Villareal were presented as expert speakers on securities compliance.Legal Risks and Compliance Requirements (00:01:46)Judith Villareal shared her extensive experience in securities compliance, emphasizing the importance of proper advertising reviews and the risks of misleading statements that could attract regulatory attention.Fundamental Rules of Securities Advertising (00:03:58)Judith explained that advertisements must not be misleading or confusing, highlighting the different approaches between FINRA's specific rules and SEC's principles-based regime.Consequences of Non-Compliance (00:06:07)The speakers discussed potential penalties ranging from regulatory trouble to criminal prosecution, including the risk of having to rescind offerings and return investor money.Marketing Language and Disclaimers (00:11:48)The discussion covered prohibited terms and phrases in securities advertising, emphasizing the importance of accurate representation and proper disclaimers in all marketing materials.

Send us a textAs a founding partner of Trowbridge Nieh LLP, Gene's law practice concentrates on the syndication of commercial and investment real estate, through both debt and equity. Gene has represented over 800 clients in this area of practice. The median offering size is $3,000,000, but he has done individual offerings of over $8 Billion. His practice writes offerings under Rule 506(b) and 506(c) of Regulation D.As former syndicator, who for ten years raised investor capital through the broker dealer community, he is able to communicate with his clients on both the technical and the practical aspects of state and federal securities laws.His book “It's a Whole New Business!” is really a “how to manual” on real estate syndication.If you want to get a free pdf copy of Gene's book on syndication and crowdfunding or sign up for a free consultation to speak with Gene, please visit www.tnllp.com Support the showFollow Rama on socials!LinkedIn | Meta | Twitter | Instagram|YoutubeConnect to Rama Krishnahttps://calendly.com/rama-krishna/ E-mail: info@ushacapital.comWebsite: www.ushacapital.comRegister for Multifamily AP360 - 2025 virtual conference - https://mfap360.com/To find out more about partnering or investing in a multifamily deal: email: info@ushacapital.com

Tilden Moschetti, an investment fund and syndication attorney, discussed Regulation D (Reg D) exemptions for raising capital. Reg D allows unlimited funds from accredited investors without advertising, with 98% of deals using it. Rule 506(b) allows non-accredited investors, while Rule 506(c) requires accredited investor verification. Accredited investors must earn $200K annually or have $1 million in net worth. Moschetti emphasized the importance of communication to mitigate risks and maintain investor trust. He noted that only 1-2% of cases lead to legal action if proper documentation is in place. His firm's turnaround time for Reg D filings is two weeks.   https://www.moschettilaw.com/  

Superpowers for Good should not be considered investment advice. Seek counsel before making investment decisions. When you purchase an item, launch a campaign or create an investment account after clicking a link here, we may earn a fee. Engage to support our work.Watch the show on television by downloading the e360tv channel app to your Roku, AppleTV or AmazonFireTV. You can also see it on YouTube.Has your business been impacted by the recent fires? Apply now for a chance to receive one of 10 free tickets to SuperCrowdLA on May 2nd and 3rd and gain the tools to rebuild and grow!Devin: What is your superpower?Alex: Thinking deeply and critically about a number of things.Crowdfunding has revolutionized how businesses raise capital, but not all crowdfunding is created equal. In today's episode, Alex Fisher, CEO and CCO of Netcapital Securities, shared how her team empowers businesses by leveraging a comprehensive suite of tools including Reg A, Reg D, and Reg CF offerings. Her insights highlight the importance of tailoring fundraising strategies to meet the unique needs of each company, ensuring both flexibility and success.Alex explained, “When people hear crowdfunding, they kind of lump all of the different offering types and ways to raise capital together.” Netcapital's approach, however, recognizes the nuances of these methods. For instance, Reg CF allows companies to raise up to $5 million from the general public, while Reg D removes the cap but limits investments to accredited investors. Combining these strategies can create opportunities for businesses to achieve their goals more effectively.For Alex, the innovation lies in the ability to use these regulations strategically. She noted, “Companies who look to utilize both offering types at the same time are being very strategic… using the Reg CF bucket to open the investment opportunity to their broad network,” including customers and social media followers. Meanwhile, Reg D can attract larger investments from accredited investors such as venture capitalists.One of the most exciting developments Alex discussed is the potential for liquidity in crowdfunding. While much of the focus has been on raising capital, Netcapital is exploring ways to offer investors opportunities for future liquidity. This forward-thinking approach benefits both issuers and investors, enhancing the overall value of crowdfunding.Netcapital's role as both a broker-dealer and a funding portal sets it apart from other platforms. “Under Reg CF, companies are limited to listing on one portal at a time,” Alex explained. “That restriction doesn't exist in Regulation A or Regulation D and doesn't apply to broker-dealers.” This flexibility allows Netcapital to collaborate with other platforms, creating a synergistic ecosystem that benefits companies and investors alike.By combining innovative strategies with a deep understanding of regulatory frameworks, Alex and her team at Netcapital are helping businesses raise capital smarter, faster, and more effectively.If you're considering crowdfunding for your business, Alex's expertise offers a roadmap for success. As she put it, “It's very facts and circumstances based… You want to understand the stage of the company, the industry, and the networks they're a part of.”tl;dr:Alex Fisher explains how Netcapital combines Reg CF, Reg A, and Reg D to fundraise strategically.She highlights the untapped potential for liquidity in crowdfunding, benefiting both issuers and investors.Netcapital's broker-dealer status allows for unique flexibility and collaboration across fundraising platforms.Alex's intellectual curiosity drives her personal growth and her ability to connect with clients.She shares actionable tips for fostering intellectual curiosity to fuel professional and personal success.How to Develop Intellectual Curiosity As a SuperpowerAlex Fisher's superpower is her intellectual curiosity, a trait she describes as “thinking deeply and critically about a number of things.” This mindset drives her to question established norms, explore new ideas, and continuously improve both personally and professionally. Alex explained, “It's about not just accepting things for how they are and constantly thinking about how to do things better.” Her curiosity fuels her ability to connect with clients on a deeper level, understanding not just their business goals but also their personal motivations.Illustrative Story:Alex shared how rekindling her love of reading helped her rediscover her intellectual curiosity. After years of focusing solely on textbooks, regulations, and professional development, she began reading for personal interest in 2022. Since then, she has read over 70 books, which has broadened her perspective and improved her ability to think creatively. This shift has positively impacted her professional life by enabling her to approach challenges with fresh ideas and a more holistic understanding.Tips for Developing Intellectual Curiosity:Ask “Why” and “How” Questions: Dive deeper into processes, systems, and decisions to understand their purpose and function.Read Widely: Explore books and resources outside your professional field to gain new perspectives.Embrace Continuous Improvement: Focus on finding better ways to do things, even if the current method works.Connect Personally: Take time to understand the motivations and passions of the people you work with.Be Open to Exploration: Allow yourself to engage in activities that don't have an immediate or tangible impact.By following Alex Fisher's example and advice, you can make intellectual curiosity a skill. With practice and effort, you could make it a superpower that enables you to do more good in the world.Remember, however, that research into success suggests that building on your own superpowers is more important than creating new ones or overcoming weaknesses. You do you!Guest ProfileAlex Fisher (she/her):CEO & CCO, Netcapital Securities Inc.About Netcapital Securities Inc.: Netcapital Securities, a wholly owned subsidiary of Netcapital Inc. (Nasdaq: NCPL, NCPLW), is an SEC-registered, FINRA member broker-dealer.Netcapital Securities specializes in supporting companies with equity capital raises under Regulation A and Regulation D and in partnering with other broker-dealers to collaboratively syndicate deals.Website: netcapital.comBiographical Information: Alexandria (Alex) Fisher is a seasoned business strategist and compliance specialist, passionate about expanding founders' access to funding and investors' access to the private capital markets.Alex is currently the CEO and CCO of Netcapital's subsidiary broker-dealer, Netcapital Securities Inc., which specializes in supporting companies with equity capital raises under Regulation A and Regulation D and partnering with other broker-dealers to collaboratively syndicate deals.Alex is an advisor to startup companies and is a member of Global Women in Venture Capital (VC).Previously, Alex managed various regulatory compliance programs at a Series A venture-backed startup and at Fidelity Investments.Linkedin: linkedin.com/in/alexandria-fisherSupport Our SponsorsOur generous sponsors make our work possible, serving impact investors, social entrepreneurs, community builders and diverse founders. Today's advertisers include FundingHope, Make Money with Impact Crowdfunding, SuperCrowdLA and Crowdfunding Made Simple. Learn more about advertising with us here.Max-Impact MembersThe following Max-Impact Members provide valuable financial support:Carol Fineagan, Independent Consultant | Lory Moore, Lory Moore Law | Marcia Brinton, High Desert Gear | Paul Lovejoy, Stakeholder Enterprise | Pearl Wright, Global Changemaker | Ralf Mandt, Next Pitch | Scott Thorpe, Philanthropist | Matthew Mead, Hempitecture | Michael Pratt, Qnetic | Add Your Name HereUpcoming SuperCrowd Event CalendarIf a location is not noted, the events below are virtual.Impact Cherub Club Meeting hosted by The Super Crowd, Inc., a public benefit corporation, on April 15, 2025, at 1:00 PM Eastern. Each month, the Club meets to review new offerings for investment consideration and to conduct due diligence on previously screened deals. To join the Impact Cherub Club, become an Impact Member of the SuperCrowd.SuperCrowdHour, April 16, 2025, at 1:00 PM Eastern. Gene Massey, Chairman/CEO of MediaShares, will lead a session on "Secrets For Creating Great Content To Attract Investors." He'll share expert insights on crafting compelling content that engages and converts potential investors. Whether you're launching a crowdfunding campaign or looking to enhance your storytelling strategy, this session is a must-attend! Don't miss it!SuperCrowdLA: we're going to be live in Santa Monica, California, May 1-3. Plan to join us for a major, in-person event focused on scaling impact. Sponsored by Digital Niche Agency, ProActive Real Estate and others. This will be a can't-miss event. Has your business been impacted by the recent fires? Apply now for a chance to receive one of 10 free tickets to SuperCrowdLA on May 2nd and 3rd and gain the tools to rebuild and grow!  SuperCrowd25, August 21st and 22nd: This two-day virtual event is an annual tradition but with big upgrades for 2025! We'll be streaming live across the web and on TV via e360tv. Soon, we'll open a process for nominating speakers. Check back!Community Event CalendarSuccessful Funding with Karl Dakin, Tuesdays at 10:00 AM ET - Click on Events.Crowdfunding Made Simple with Devin D. Thorpe: AI-Powered Fundraising Strategies, Wednesday, April 9, 2025, at 1:00 PM ET.Devin Thorpe joins Entrepreneurs On Fire to share powerful insights on impact investing and doing well by doing good. Tune in on April 10 to hear Devin's inspiring conversation with host John Lee Dumas!Igniting Community Capital to Build Outdoor Recreation Communities, Crowdfund Better, Thursdays, March 20 & 27, April 3 & 10, 2025, at 1:00 PM ET.Regulated Investment Crowdfunding Summit 2025, Crowdfunding Professional Association, Washington DC, October 21-22, 2025.Call for community action:Please show your support for a tax credit for investments made via Regulation Crowdfunding, benefiting both the investors and the small businesses that receive the investments. Learn more here.If you would like to submit an event for us to share with the 9,000+ changemakers, investors and entrepreneurs who are members of the SuperCrowd, click here.We use AI to help us write compelling recaps of each episode. Get full access to Superpowers for Good at www.superpowers4good.com/subscribe

In the latest episode of our Deal Review Series, Drew Wahlgren from MAG Capital Investments presents the MAG Capital Industrial Fund III Deal to our LP panel: Paul Shannon, Chris Lopez, and Mauricio Rauld. The LP Panel asks questions like: - How many industrial deals have you done, and what's the performance to date? - Who handles acquisitions, asset management, and communications with investors? - How soon is the fund putting money to work, and how much has been raised so far? - How do current market conditions affect buying right now, and are we at risk of overpaying? - When do investors get their principal and pref, and when does the sponsor start participating? Want to discuss the deal with other investors? Start your FREE 7-day trial on PassivePockets: * Discover new sponsors and read real investor ratings & reviews * Find and vet deals quickly and easily * Connect with investors in private, investor-only forums * Improve your due diligence by watching our LP Panel Deal Review series * Access expert insights with on-demand courses, articles, and webinars Disclaimer: The information on this website, including any graphs, charts, ratings, reviews, videos, and other visual aids, is for informational purposes only, and is not an offering of or solicitation to purchase securities or otherwise make an investment. PassivePockets is not responsible for ensuring or verifying that sponsor and/or deal information and offering materials are compliant with applicable law, including but not limited to securities laws or investment advisory regulations. PassivePockets receives compensation from sponsors in exchange for profiling sponsors and/or their sponsored deals on this website; however, such profiles and the sponsor-provided content therein shall not be construed as, and are not, endorsements, testimonials, or recommendations by PassivePockets. Any comments, views, opinions and any forecasts of future events, returns or results expressed in video content posted to this website, whether by PassivePockets, sponsors, or website users, reflect the opinions of the given author or speaker (including the personal opinions of PassivePockets employees or contractors, as applicable), are subject to change without notice, do not reflect the views of PassivePockets or its affiliates, may not reflect actual investment results, are not guarantees of future events, returns or results and are not intended to provide financial planning, investment advice, legal advice or tax advice. The accuracy, completeness or suitability of the (i) information and offering materials provided by a sponsor and (ii) the information discussed in video content posted to this website, including any comments, views, opinions, forecasts, graphs, charts, ratings, reviews, videos, and other visual aids, cannot be guaranteed, are not reviewed by PassivePockets, are provided for informational purposes only, and should not be solely relied upon in making an investment decision. No responsibility or liability is accepted or assumed by PassivePockets or any of its officers, agents or advisors as to the accuracy, sufficiency or completeness of any such video content. Investing in real estate is inherently risky and suitable only for sophisticated and qualified investors. Prospective investors should consult with their own investment advisors, financial advisors, and tax advisors, as applicable, in connection with any decision to invest. Sponsors may only offer securities through this website pursuant to Rule 506(c) under Regulation D under the Securities Act of 1933, and the sale of such securities will be strictly limited to those persons who are qualified as “accredited investors” as defined in Rule 501(a) of Regulation D under the Securities Act of 1933. Compliance with these requirements and other applicable securities laws is the sole responsibility of each sponsor, and not PassivePockets.

Tilden Moschetti, Esq. is a syndication attorney that focuses exclusively on Regulation D offerings for real estate syndicators, business owners, entrepreneurs, and private equity funds. Tilden is a highly regarded expert in syndication as an attorney, a syndication coach, General Counsel to two private equity funds, and an active syndicator himself. He has been featured on NPR, NBC News, People Magazine, the National Law Journal, the San Francisco Chronicle, and the Los Angeles Business Journal. A fundamental difference between Tilden and other attorneys is that Tilden came to the practice of syndication law as a syndicator of his own deals first. Tilden's practice as a real estate attorney changed gears when a partner showed him a deal and asked him if they could syndicate that deal together. Both investors and Tilden made a great return, so he kept syndicating. As his successes grew doing deals, 9 years ago he refocused his firm away from real estate law, to syndication law exclusively.   In this episode, we talked to Tilden about syndications, its differences with joint ventures, common mistakes made by syndicators, vetting syndication attorneys, tips for new passive investors, syndication partners, and much more.   Get ready for REWBCON 2025, happening from April 10th - 12th! Use my code JOHN at checkout for 10% off your ticket.   Syndication Law;   02:36 Tilden's background; 03:27 An insight into syndications; 04:37 Syndication vs. Joint Venture; 09:12 An insight into the common mistakes made by syndicators; 14:41 Vetting syndication attorneys; 21:03 Tips for new passive investors; 28:17 Round of Insights; 31:40 An insight into vetting the dedication of your partners   Announcement: Learn about our Apartment Investing Mastermind here.   Round of Insights   Apparent Failure: A deal in Arizona going sideways, teaching Tilden to pick the right people to do business with, and succeed. Digital Resource: News outlets, such as Financial Times and Bloomberg. Most Recommended Book: Sports for the Soul. Daily Habit: Focusing on gratitude and target achievements. #1 Insight for selecting the right syndication attorney: Talking to people and finding the right person to work together with that fits your needs is the key. Best place to grab a bite in Raleigh, NC: Northside Bistro.   Contact Tilden: Website   Thank you for joining us for another great episode! If you're enjoying the show, please LEAVE A RATING OR REVIEW,  and be sure to hit that subscribe button so you do not miss an episode.

1UNITED STATES BANKRUPTCY COURTSOUTHERN DISTRICT OF TEXASHOUSTON DIVISIONIn re:INTRUM AB, et al.,1Debtors.Chapter 11Case No. 24-90575 (CML)(Jointly Administered)NOTICE OF APPEALPursuant to 28 U.S.C. § 158(a) and Federal Rules of Bankruptcy Procedure 8002 and 8003,notice is hereby given that the Ad Hoc Committee of holders of 2025 notes issued by Intrum AB(the “AHC”) hereby appeals to the United States District Court for the Southern District of Texasfrom (i) the Order Denying Motion of the Ad Hoc Committee of Holders of Intrum AB Notes Due2025 to Dismiss Chapter 11 Cases Pursuant to 11 U.S.C. § 1112(b) and Federal Rule ofBankruptcy Procedure 1017(f)(1) (ECF No. 262) (the “Motion to Dismiss Order”) and (ii) theOrder (I) Approving Disclosure Statement and (II) Confirming Joint Prepackaged Chapter 11Plan of Intrum AB and Its Affiliated Debtor (Further Technical Modifications) (ECF No. 263) (the“Confirmation Order”). A copy of the Motion to Dismiss Order is attached as Exhibit A and acopy of the Confirmation Order is attached as Exhibit B. Additionally, the transcript of theBankruptcy Court's oral ruling accompanying the Motion to Dismiss Order and ConfirmationOrder (ECF No. 275) is attached as Exhibit C.Below are the names of all parties to this appeal and their respective counsel:1 The Debtors in these Chapter 11 Cases are Intrum AB and Intrum AB of Texas LLC. The Debtors'service address in these Chapter 11 Cases is 801 Travis Street, Ste 2101, #1312, Houston, TX 77002.Case 24-90575 Document 296 Filed in TXSB on 01/13/25 Page 1 of 62I. APPELLANTA. Name of Appellant:The members of the AHC include:Boundary Creek Master Fund LP; CF INT Holdings Designated Activity Company; CaiusCapital Master Fund; Diameter Master Fund LP; Diameter Dislocation Master Fund II LP; FirTree Credit Opportunity Master Fund, LP; MAP 204 Segregated Portfolio, a segregated portfolioof LMA SPC; Star V Partners LLC; and TQ Master Fund LP.Attorneys for the AHC:QUINN EMANUEL URQUHART & SULLIVAN, LLPChristopher D. Porter (SBN 24070437)Joanna D. Caytas (SBN 24127230)Melanie A. Guzman (SBN 24117175)Cameron M. Kelly (SBN 24120936)700 Louisiana Street, Suite 3900Houston, TX 77002Telephone: (713) 221-7000Facsimile: (713) 221-7100Email: chrisporter@quinnemanuel.comjoannacaytas@quinnemanuel.commelanieguzman@quinnemanuel.comcameronkelly@quinnemanuel.com-and-Benjamin I. Finestone (admitted pro hac vice)Sascha N. Rand (admitted pro hac vice)Katherine A. Scherling (admitted pro hac vice)295 5th AvenueNew York, New York 10016Telephone: (212) 849-7000Facsimile: (212) 849-7100Email: benjaminfinestone@quinnemanuel.comsascharand@quinnemanuel.comkatescherling@quinnemanuel.comB. Positions of appellant in the adversary proceeding or bankruptcy case that isthe subject of this appeal:CreditorsCase 24-90575 Document 296 Filed in TXSB on 01/13/25 Page 2 of 63II. THE SUBJECT OF THIS APPEALA. Judgment, order, or decree appealed from:The Order Denying Motion of the Ad Hoc Committee of Holders of Intrum AB Notes Due2025 to Dismiss Chapter 11 Cases Pursuant to 11 U.S.C. § 1112(b) and Federal Rule ofBankruptcy Procedure 1017(f)(1) (ECF No. 262); the Order (I) Approving Disclosure Statementand (II) Confirming Joint Prepackaged Chapter 11 Plan of Intrum AB and Its Affiliated Debtor(Further Technical Modifications) (ECF No. 263); and the December 31, 2024 Transcript of OralRuling Before the Honorable Christopher M. Lopez United States Bankruptcy Court Judge (ECFNo. 275).B. The date on which the judgment, order, or decree was entered:The Motion to Dismiss Order and the Confirmation Order were entered on December 31,2024. The Court issued its oral ruling accompanying the Motion to Dismiss Order and theConfirmation Order on December 31, 2024.III. OTHER PARTIES TO THIS APPEALIntrum AB and Intrum AB of Texas LLCMILBANK LLPDennis F. Dunne (admitted pro hac vice)Jaimie Fedell (admitted pro hac vice)55 Hudson YardsNew York, NY 10001Telephone: (212) 530-5000Facsimile: (212) 530-5219Email: ddunne@milbank.comjfedell@milbank.com–and–Andrew M. Leblanc (admitted pro hac vice)Melanie Westover Yanez (admitted pro hac vice)1850 K Street, NW, Suite 1100Washington, DC 20006Telephone: (202) 835-7500Facsimile: (202) 263-7586Email: aleblanc@milbank.commwyanez@milbank.com–and–PORTER HEDGES LLPJohn F. Higgins (SBN 09597500)Case 24-90575 Document 296 Filed in TXSB on 01/13/25 Page 3 of 64Eric D. Wade (SBN 00794802)M. Shane Johnson (SBN 24083263)1000 Main Street, 36th FloorHouston TX 77002Telephone: (713) 226-6000Facsimile: (713) 226-6248Email: jhiggins@porterhedges.comewade@porterhedges.comsjohnson@porterhedges.comIV. OTHER PARTIES THAT MAY HAVE AN INTEREST IN THIS APPEALThe following chart lists certain parties that are not parties to this appeal, but that may havean interest in the outcome of the case. These parties should be served with notice of this appealby the Debtors who are aware of their identities and best positioned to provide notice.All Other Creditors of the Debtors, Including, But Not Limited To:• Certain funds and accounts managed by BlackRock Investment Management (UK)Limited or its affiliates;• Capital Four;• Davidson Kempner European Partners, LLP;• Intermediate Capital Managers Limited;• Mandatum Asset Management Ltd;• H.I.G. Capital, LLC;• Spiltan Hograntefond; Spiltan Rantefond Sverige; and Spiltan Aktiefond Stabil;• The RCF SteerCo Group;• Swedbank AB (publ).Any Holder of Stock of the Debtors• Any holder of stock of the Debtors, including their successors and assigns.Case 24-90575 Document 296 Filed in TXSB on 01/13/25 Page 4 of 65Respectfully submitted this 13th day of January, 2025.QUINN EMANUEL URQUHART &SULLIVAN, LLP/s/ Christopher D. PorterChristopher D. Porter (SBN 24070437)Joanna D. Caytas (SBN 24127230)Melanie A. Guzman (SBN 24117175)Cameron M. Kelly (SBN 24120936)700 Louisiana Street, Suite 3900Houston, TX 77002Telephone: (713) 221-7000Facsimile: (713) 221-7100Email: chrisporter@quinnemanuel.comjoannacaytas@quinnemanuel.commelanieguzman@quinnemanuel.comcameronkelly@quinnemanuel.com-and-Benjamin I. Finestone (admitted pro hac vice)Sascha N. Rand (admitted pro hac vice)Katherine A. Scherling (admitted pro hac vice)295 5th AvenueNew York, New York 10016Telephone: (212) 849-7000Facsimile: (212) 849-7100Email: benjaminfinestone@quinnemanuel.comsascharand@quinnemanuel.comkatescherling@quinnemanuel.comCOUNSEL FOR THE AD HOC COMMITTEE OFINTRUM AB 2025 NOTEHOLDERSCase 24-90575 Document 296 Filed in TXSB on 01/13/25 Page 5 of 6CERTIFICATE OF SERVICEI, Christopher D. Porter, hereby certify that on the 13th day of January, 2025, a copy ofthe foregoing document has been served via the Electronic Case Filing System for the UnitedStates Bankruptcy Court for the Southern District of Texas./s/ Christopher D. PorterBy: Christopher D. PorterCase 24-90575 Document 296 Filed in TXSB on 01/13/25 Page 6 of 6EXHIBIT ACase 24-90575 Document 296-1 Filed in TXSB on 01/13/25 Page 1 of 31IN THE UNITED STATES BANKRUPTCY COURTFOR THE SOUTHERN DISTRICT OF TEXASHOUSTON DIVISION)In re: ) Chapter 11)Intrum AB, et al.,1 ) Case No. 24-90575 (CML)))Jointly AdministeredDebtors. ))ORDER DENYING MOTION OF THE AD HOCCOMMITTEE OF HOLDERS OF INTRUM AB NOTES DUE 2025TO DISMISS CHAPTER 11 CASES PURSUANT TO 11 U.S.C. § 1112(B) ANDFEDERAL RULE OF BANKRUPTCY PROCEDURE 1017(F)(1)(Related to Docket No. 27)This matter, having come before the Court upon the Motion of the Ad Hoc Committee ofHolders of Intrum AB Notes Due 2025 to Dismiss Chapter 11 Cases Pursuant to 11 U.S.C. §1112(b) and Federal Rule of Bankruptcy Procedure 1017(f)(1) [Docket No. 27] (the “Motion toDismiss”); and this Court having considered the Debtors' Objection to the Motion of the Ad HocCommittee of Holders of Intrum AB Notes Due 2025 to Dismiss Chapter 11 Cases Pursuant to 11U.S.C. § 1112(b) and Federal Rule of Bankruptcy Procedure 1017(f)(1) (the “Objection”) andany other responses or objections to the Motion to Dismiss; and this Court having jurisdiction overthis matter pursuant to 28 U.S.C. § 1334 and the Amended Standing Order; and this Court havingfound that this is a core proceeding pursuant to 28 U.S.C. § 157(b)(2); and this Court having foundthat it may enter a final order consistent with Article III of the United States Constitution; and thisCourt having found that the relief requested in the Objection is in the best interests of the Debtors'1 The Debtors in these Chapter 11 Cases are Intrum AB and Intrum AB of Texas LLC. The Debtors' serviceaddress in these Chapter 11 Cases is 801 Travis Street, STE 2101, #1312, Houston, TX 77002.United States Bankruptcy CourtSouthern District of TexasENTEREDDecember 31, 2024Nathan Ochsner, ClerkCCaassee 2 244-9-900557755 D Dooccuummeennt t2 29662-1 F Filieledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 1 2 o of f2 32estates; and this Court having found that the Debtors' notice of the Objection and opportunity fora hearing on the Motion to Dismiss and Objection were appropriate and no other notice need beprovided; and this Court having reviewed the Motion to Dismiss and Objection and havingheard the statements in support of the relief requested therein at a hearing before this Court; andthis Court having determined that the legal and factual bases set forth in the Objectionestablish just cause for the relief granted herein; and upon all of the proceedings had beforethis Court; and after due deliberation and sufficient cause appearing therefor, it is HEREBYORDERED THAT:1. The Motion to Dismiss is Denied for the reasons stated at the December 31, 2024 hearing.2. This Court retains exclusive jurisdiction and exclusive venue with respect to allmatters arising from or related to the implementation, interpretation, and enforcement of this Order.DAeucegmubste 0r 23,1 2, 0210294CCaassee 2 244-9-900557755 D Dooccuummeennt t2 29662-1 F Filieledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 2 3 o of f2 3EXHIBIT BCase 24-90575 Document 296-2 Filed in TXSB on 01/13/25 Page 1 of 135IN THE UNITED STATES BANKRUPTCY COURTFOR THE SOUTHERN DISTRICT OF TEXASHOUSTON DIVISION)In re: ) Chapter 11)Intrum AB et al.,1 ) Case No. 24-90575 (CML)))(Jointly Administered)Debtors. ))ORDER (I) APPROVINGDISCLOSURE STATEMENT AND(II) CONFIRMING JOINT PREPACKAGED CHAPTER 11PLAN OF INTRUM AB AND ITS AFFILIATEDDEBTOR (FURTHER TECHNICAL MODIFICATIONS)The above-captioned debtors and debtors in possession (collectively, the“Debtors”), having:a. entered into that certain Lock-Up Agreement, dated as of July 10, 2024 (asamended and restated on August 15, 2024, and as further modified,supplemented, or otherwise amended from time to time in accordance with itsterms, the “the Lock-Up Agreement”) and that certain Backstop Agreement,dated as of July 10, 2024, (as amended and restated on November 15, 2024 andas further modified, supplemented, or otherwise amended from time to time inaccordance with its terms), setting out the terms of the backstop commitmentsprovided by the Backstop Providers to backstop the entirety of the issuance ofNew Money Notes (as may be further amended, restated, amended and restated,modified or supplemented from time to time in accordance with the termsthereof, the “Backstop Agreement”) which set forth the terms of a consensualfinancial restructuring of the Debtors;b. commenced, on October 17, 2024, a prepetition solicitation (the “Solicitation”)of votes on the Joint Prepackaged Chapter 11 Plan of Reorganization of IntrumAB and its Debtor Affiliate Pursuant to Chapter 11 of the Bankruptcy Code (asthe same may be further amended, modified and supplemented from time totime, the “Plan”), by causing the transmittal, through their solicitation andballoting agent, Kroll Restructuring Administration LLC (“Kroll”), to theholders of Claims entitled to vote on the Plan of, among other things: (i) the1 The Debtors in these chapter 11 cases are Intrum AB and Intrum AB of Texas LLC. The Debtors' serviceaddress in these chapter 11 cases is 801 Travis Street, STE 2102, #1312, Houston, TX 77002.United States Bankruptcy CourtSouthern District of TexasENTEREDDecember 31, 2024Nathan Ochsner, ClerkCCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Filieledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 1 2 o of f1 133452Plan, (ii) the Disclosure Statement for Joint Prepackaged Chapter 11 Plan ofReorganization of Intrum AB and its Debtor Affiliate (as the same may befurther amended, modified and supplemented from time to time, the“Disclosure Statement”), and (iii) the Ballots and Master Ballot to vote on thePlan (the “Ballots”), (iv) the Affidavit of Service of Solicitation Materials[Docket No. 7];c. commenced on November 15, 2024 (the “Petition Date”), these chapter 11 cases(these “Chapter 11 Cases”) by filing voluntary petitions in the United StatesBankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”or the “Court”) for relief under chapter 11 of title 11 of the United States Code(the “Bankruptcy Code”);d. Filed on November 15, 2024, the Affidavit of Service of Solicitation Materials[Docket No. 7] (the “Solicitation Affidavit”);e. Filed, on November 16, 2024 the Joint Prepackaged Chapter 11 Plan ofReorganization of Intrum AB and its Debtor Affiliate Pursuant to Chapter 11of the Bankruptcy Code (Technical Modifications) [Docket No. 16] and theDisclosure Statement for Joint Prepackaged Chapter 11 Plan of Intrum AB andits Debtor Affiliate [Docket No. 17];f. Filed on November 16, 2024, the Declaration of Andrés Rubio in Support of ofthe Debtors' Chapter 11 Petitions and First Day Motions [Docket No. 14] (the“First Day Declaration”);g. Filed on November 17, 2024, the Declaration of Alex Orchowski of KrollRestructuring Administration LLC Regarding the Solicitation of Votes andTabulation of Ballots Case on the Joint Prepackaged Chapter 11 Plan ofReorganization of Intrum AB and its Debtor Affiliate Pursuant to Chapter 11of the Bankruptcy Code [Docket No. 18] (the “Voting Declaration,” andtogether with the Plan, the Disclosure Statement, the Ballots, and theSolicitation Affidavit, the “Solicitation Materials”);h. obtained, on November 19, 2024, the Order(I) Scheduling a Combined Hearingon (A) Adequacy of the Disclosure Statement and (B) Confirmation of the Plan,(II) Approving Solicitation Procedures and Form and Manner of Notice ofCommencement, Combined Hearing, and Objection Deadline, (III) FixingDeadline to Object to Disclosure Statement and Plan, (IV) Conditionally (A)Directing the United States Trustee Not to Convene Section 341 Meeting ofCreditors and (B) Waiving Requirement to File Statements of Financial Affairsand Schedules of Assets and Liabilities, and (V) Granting Related Relief[Docket No. 71] (the “Scheduling Order”), which, among other things: (i)approved the prepetition solicitation and voting procedures, including theConfirmation Schedule (as defined therein); (ii) conditionally approved theDisclosure Statement and its use in the Solicitation; and (iii) scheduled theCombined Hearing on December 16, 2024, at 1:00 p.m. (prevailing CentralCCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Filieledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 2 3 o of f1 133453Time) to consider the final approval of the Disclosure Statement and theconfirmation of the Plan (the “Combined Hearing”);i. served, through Kroll, on November 20, 2025, on all known holders of Claimsand Interests, the U.S. Trustee and certain other parties in interest, the Noticeof: (I) Commencement of Chapter 11 Bankruptcy Cases; (II) Hearing on theDisclosure Statement and Confirmation of the Plan, and (III) Certain ObjectionDeadlines (the “Combined Hearing Notice”) as evidence by the Affidavit ofService [Docket No. 160];j. caused, on November 25 and 27, 2024, the Combined Hearing Notice to bepublished in the New York Times (national and international editions) and theFinancial Times (international edition), as evidenced by the Certificate ofPublication [Docket No. 148];k. Filed and served, on December 10, 2024, the Plan Supplement for the Debtors'Joint Prepackaged Chapter 11 Plan of Reorganization [Docket 165];l. Filed on December 10, 2024, the Declaration of Jeffrey Kopa in Support ofConfirmation of the Joint Prepackaged Plan of Reorganization of Intrum ABand its Debtor Affiliate Pursuant to Chapter 11 of the Bankruptcy Code [DocketNo. 155];m. Filed on December 14, 2024, the:i. Debtors' Memorandum of Law in Support of an Order: (I) Approving, on aFinal Basis, Adequacy of the Disclosure Statement; (II) Confirming theJoint Prepackaged Plan of Reorganization; and (III) Granting Related Relief[Docket No. 190] (the “Confirmation Brief”);ii. Declaration of Andrés Rubio in Support of Confirmation of the JointPrepackaged Plan of Reorganization of Intrum AB and its Debtor Affiliate.[Docket No. 189] (the “Confirmation Declaration”); andiii. Joint Prepackaged Chapter 11 Plan of Reorganization of Intrum AB and itsDebtor Affiliate Pursuant to Chapter 11 of the Bankruptcy Code (FurtherTechnical Modifications) [Docket No. 191];n. Filed on December 18, 2024, the Joint Prepackaged Chapter 11 Plan ofReorganization of Intrum AB and its Debtor Affiliate Pursuant to Chapter 11of the Bankruptcy Code (Further Technical Modifications) [Docket No. 223];CCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Filieledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 3 4 o of f1 133454WHEREAS, the Court having, among other things:a. set December 12, 2024, at 4:00 p.m. (prevailing Central Time) as the deadlinefor Filing objection to the adequacy of the Disclosure Statement and/orConfirmation2 of the Plan (the “Objection Deadline”);b. held, on December 16, 2024 at 1:00 p.m. (prevailing Central Time) [andcontinuing through December 17, 2024], the Combined Hearing;c. heard the statements, arguments, and any objections made at the CombinedHearing;d. reviewed the Disclosure Statement, the Plan, the Ballots, the Plan Supplement,the Confirmation Brief, the Confirmation Declaration, the SolicitationAffidavit, and the Voting Declaration;e. overruled (i) any and all objections to approval of the Disclosure Statement, thePlan, and Confirmation, except as otherwise stated or indicated on the record,and (ii) all statements and reservations of rights not consensually resolved orwithdrawn, unless otherwise indicated; andf. reviewed and taken judicial notice of all the papers and pleadings Filed(including any objections, statement, joinders, reservations of rights and otherresponses), all orders entered, and all evidence proffered or adduced and allarguments made at the hearings held before the Court during the pendency ofthese cases;NOW, THEREFORE, it appearing to the Bankruptcy Court that notice of theCombined Hearing and the opportunity for any party in interest to object to the DisclosureStatement and the Plan having been adequate and appropriate as to all parties affected or to beaffected by the Plan and the transactions contemplated thereby, and the legal and factual bases setforth in the documents Filed in support of approval of the Disclosure Statement and Confirmationand other evidence presented at the Combined Hearing establish just cause for the relief grantedherein; and after due deliberation thereon and good cause appearing therefor, the BankruptcyCourt makes and issues the following findings of fact and conclusions of law, and orders for thereasons stated on the record at the December 31, 2024 ruling on plan confirmation;2 Capitalized terms used but not otherwise defined herein have meanings given to them in the Plan and/or theDisclosure Statement. The rules of interpretation set forth in Article I.B of the Plan apply to this CombinedOrder.CCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Filieledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 4 5 o of f1 133455I. FINDINGS OF FACT AND CONCLUSIONS OF LAWIT IS HEREBY FOUND AND DETERMINED THAT:A. Findings of Fact and Conclusions of Law.1. The findings and conclusions set forth herein and in the record of theCombined Hearing constitute the Bankruptcy Court's findings of fact and conclusions of law underRule 52 of the Federal Rules of Civil Procedure, as made applicable herein by Bankruptcy Rules7052 and 9014. To the extent any of the following conclusions of law constitute findings of fact,or vice versa, they are adopted as such.B. Jurisdiction, Venue, Core Proceeding.2. This Court has jurisdiction over these Chapter 11 Cases pursuant to28 U.S.C. § 1334. Venue of these proceedings and the Chapter 11 Cases in this district is properpursuant to 28 U.S.C. §§ 1408 and 1409. This is a core proceeding pursuant to 28 U.S.C.§ 157(b)(2) and this Court may enter a final order hereon under Article III of the United StatesConstitution.C. Eligibility for Relief.3. The Debtors were and continue to be entities eligible for relief under section109 of the Bankruptcy Code and the Debtors were and continue to be proper proponents of thePlan under section 1121(a) of the Bankruptcy Code.D. Commencement and Joint Administration of the Chapter 11 Cases.4. On the Petition Date, the Debtors commenced the Chapter 11 Cases. OnNovember 18, 2024, the Court entered an order [Docket No. 51] authorizing the jointadministration of the Chapter 11 Case in accordance with Bankruptcy Rule 1015(b). The Debtorshave operated their businesses and managed their properties as debtors in possession pursuant toCCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Filieledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 5 6 o of f1 133456sections 1107(a) and 1108 of the Bankruptcy Code. No trustee, examiner, or statutory committeehas been appointed in these Chapter 11 Cases.E. Adequacy of the Disclosure Statement.5. The Disclosure Statement and the exhibits contained therein (i) containssufficient information of a kind necessary to satisfy the disclosure requirements of applicablenonbankruptcy laws, rules and regulations, including the Securities Act; and (ii) contains“adequate information” as such term is defined in section 1125(a)(1) and used in section1126(b)(2) of the Bankruptcy Code, with respect to the Debtors, the Plan and the transactionscontemplated therein. The Filing of the Disclosure Statement satisfied Bankruptcy Rule 3016(b).The injunction, release, and exculpation provisions in the Plan and the Disclosure Statementdescribe, in bold font and with specific and conspicuous language, all acts to be enjoined andidentify the Entities that will be subject to the injunction, thereby satisfying Bankruptcy Rule3016(c).F. Solicitation.6. As described in and evidenced by the Voting Declaration, the Solicitationand the transmittal and service of the Solicitation Materials were: (i) timely, adequate, appropriate,and sufficient under the circumstances; and (ii) in compliance with sections 1125(g) and 1126(b)of the Bankruptcy Code, Bankruptcy Rules 3017 and 3018, the applicable Local Bankruptcy Rules,the Scheduling Order and all applicable nonbankruptcy rules, laws, and regulations applicable tothe Solicitation, including the registration requirements under the Securities Act. The SolicitationMaterials, including the Ballots and the Opt Out Form (as defined below), adequately informedthe holders of Claims entitled to vote on the Plan of the procedures and deadline for completingand submitting the Ballots.CCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Filieledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 6 7 o of f1 1334577. The Debtors served the Combined Hearing Notice on the entire creditormatrix and served the Opt Out Form on all Non-Voting Classes. The Combined Hearing Noticeadequately informed Holders of Claims or Interests of critical information regarding voting on (ifapplicable) and objecting to the Plan, including deadlines and the inclusion of release, exculpation,and injunction provisions in the Plan, and adequately summarized the terms of the Third-PartyRelease. Further, because the form enabling stakeholders to opt out of the Third-Party Release (the“Opt Out Form”) was included in both the Ballots and the Opt Out Form, every known stakeholder,including unimpaired creditors was provided with the means by which the stakeholders could optout of the Third-Party Release. No further notice is required. The period for voting on the Planprovided a reasonable and sufficient period of time and the manner of such solicitation was anappropriate process allowing for such holders to make an informed decision.G. Tabulation.8. As described in and evidenced by the Voting Declaration, (i) the holders ofClaims in Class 3 (RCF Claims) and Class 5 (Notes Claims) are Impaired under the Plan(collectively, the “Voting Classes”) and have voted to accept the Plan in the numbers and amountsrequired by section 1126 of the Bankruptcy Code, and (ii) no Class that was entitled to vote on thePlan voted to reject the Plan. All procedures used to tabulate the votes on the Plan were in goodfaith, fair, reasonable, and conducted in accordance with the applicable provisions of theBankruptcy Code, the Bankruptcy Rules, the Local Rules, the Disclosure Statement, theScheduling Order, and all other applicable nonbankruptcy laws, rules, and regulations.H. Plan Supplement.9. On December 10, 2024, the Debtors Filed the Plan Supplement with theCourt. The Plan Supplement (including as subsequently modified, supplemented, or otherwiseCCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Filieledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 7 8 o of f1 133458amended pursuant to a filing with the Court), complies with the terms of the Plan, and the Debtorsprovided good and proper notice of the filing in accordance with the Bankruptcy Code, theBankruptcy Rules, the Scheduling Order, and the facts and circumstances of the Chapter 11 Cases.All documents included in the Plan Supplement are integral to, part of, and incorporated byreference into the Plan. No other or further notice is or will be required with respect to the PlanSupplement. Subject to the terms of the Plan and the Lock-Up Agreement, and only consistenttherewith, the Debtors reserve the right to alter, amend, update, or modify the Plan Supplementand any of the documents contained therein or related thereto, in accordance with the Plan, on orbefore the Effective Date.I. Modifications to the Plan.10. Pursuant to section 1127 of the Bankruptcy Code, the modifications to thePlan described or set forth in this Combined Order constitute technical or clarifying changes,changes with respect to particular Claims by agreement with holders of such Claims, ormodifications that do not otherwise materially and adversely affect or change the treatment of anyother Claim or Interest under the Plan. These modifications are consistent with the disclosurespreviously made pursuant to the Disclosure Statement and Solicitation Materials, and notice ofthese modifications was adequate and appropriate under the facts and circumstances of the Chapter11 Cases. In accordance with Bankruptcy Rule 3019, these modifications do not require additionaldisclosure under section 1125 of the Bankruptcy Code or the resolicitation of votes under section1126 of the Bankruptcy Code, and they do not require that holders of Claims or Interests beafforded an opportunity to change previously cast acceptances or rejections of the Plan.Accordingly, the Plan is properly before this Court and all votes cast with respect to the Plan priorto such modification shall be binding and shall apply with respect to the Plan.CCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Filieledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 8 9 o of f1 133459J. Objections Overruled.11. Any resolution or disposition of objections to Confirmation explained orotherwise ruled upon by the Court on the record at the Confirmation Hearing is herebyincorporated by reference. All unresolved objections, statements, joinders, informal objections,and reservations of rights are hereby overruled on the merits.K. Burden of Proof.12. The Debtors, as proponents of the Plan, have met their burden of provingthe elements of sections 1129(a) and 1129(b) of the Bankruptcy Code by a preponderance of theevidence, the applicable evidentiary standard for Confirmation. Further, the Debtors have proventhe elements of sections 1129(a) and 1129(b) by clear and convincing evidence. Each witness whotestified on behalf of the Debtors in connection with the Confirmation Hearing was credible,reliable, and qualified to testify as to the topics addressed in his testimony.L. Compliance with the Requirements of Section 1129 of the BankruptcyCode.13. The Plan complies with all applicable provisions of section 1129 of theBankruptcy Code as follows:a. Section 1129(a)(1) – Compliance of the Plan with Applicable Provisions of theBankruptcy Code.14. The Plan complies with all applicable provisions of the Bankruptcy Code,including sections 1122 and 1123, as required by section 1129(a)(1) of the Bankruptcy Code.i. Section 1122 and 1123(a)(1) – Proper Classification.15. The classification of Claims and Interests under the Plan is proper under theBankruptcy Code. In accordance with sections 1122(a) and 1123(a)(1) of the Bankruptcy Code,Article III of the Plan provides for the separate classification of Claims and Interests at each Debtorinto Classes, based on differences in the legal nature or priority of such Claims and Interests (otherCaCsaes e2 42-49-09507557 5 D oDcoucmumenetn 2t 9266-32 FFiilleedd iinn TTXXSSBB oonn 1021//3113//2245 PPaaggee 91 0o fo 1f 3143510than Administrative Claims, Professional Fee Claims, and Priority Tax Claims, which areaddressed in Article II of the Plan and Unimpaired, and are not required to be designated asseparate Classes in accordance with section 1123(a)(1) of the Bankruptcy Code). Valid business,factual, and legal reasons exist for the separate classification of the various Classes of Claims andInterests created under the Plan, the classifications were not implemented for any improperpurpose, and the creation of such Classes does not unfairly discriminate between or among holdersof Claims or Interests.16. In accordance with section 1122(a) of the Bankruptcy Code, each Class ofClaims or Interests contains only Claims or Interests substantially similar to the other Claims orInterests within that Class. Accordingly, the Plan satisfies the requirements of sections 1122(a),1122(b), and 1123(a)(1) of the Bankruptcy Codeii. Section 1123(a)(2) – Specifications of Unimpaired Classes.17. Article III of the Plan specifies that Claims and Interests in the classesdeemed to accept the Plan are Unimpaired under the Plan. Holders of Intercompany Claims andIntercompany Interests are either Unimpaired and conclusively presumed to have accepted thePlan, or are Impaired and deemed to reject (the “Deemed Rejecting Classes”) the Plan, and, ineither event, are not entitled to vote to accept or reject the Plan. In addition, Article II of the Planspecifies that Administrative Claims and Priority Tax Claims are Unimpaired, although the Plandoes not classify these Claims. Accordingly, the Plan satisfies the requirements of section1123(a)(2) of the Bankruptcy Code.CCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Fileiledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 1 101 o of f1 1334511iii. Section 1123(a)(3) – Specification of Treatment of Voting Classes18. Article III.B of the Plan specifies the treatment of each Voting Class underthe Plan – namely, Class 3 and Class 5. Accordingly, the Plan satisfies the requirements of section1123(a)(3) of the Bankruptcy Code.iv. Section 1123(a)(4) – No Discrimination.19. Article III of the Plan provides the same treatment to each Claim or Interestin any particular Class, as the case may be, unless the holder of a particular Claim or Interest hasagreed to a less favorable treatment with respect to such Claim or Interest. Accordingly, the Plansatisfies the requirements of section 1123(a)(4) of the Bankruptcy Code.v. Section 1123(a)(5) – Adequate Means for Plan Implementation.20. The Plan and the various documents included in the Plan Supplementprovide adequate and proper means for the Plan's execution and implementation, including: (a)the general settlement of Claims and Interests; (b) the restructuring of the Debtors' balance sheetand other financial transactions provided for by the Plan; (c) the consummation of the transactionscontemplated by the Plan, the Lock-Up Agreement, the Restructuring Implementation Deed andthe Agreed Steps Plan and other documents Filed as part of the Plan Supplement; (d) the issuanceof Exchange Notes, the New Money Notes, and the Noteholder Ordinary Shares pursuant to thePlan; (e) the amendment of the Intercreditor Agreement; (f) the amendment of the FacilityAgreement; (g) the amendment of the Senior Secured Term Loan Agreement; (h) theconsummation of the Rights Offering in accordance with the Plan, Rights Offering Documentsand the Lock-Up Agreement; (i) the granting of all Liens and security interests granted orconfirmed (as applicable) pursuant to, or in connection with, the Facility Agreement, the ExchangeNotes Indenture, the New Money Notes Indenture, the amended Intercreditor Agreement and theCCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Fileiledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 1 112 o of f1 1334512Senior Secured Term Loan Agreement pursuant to the New Security Documents (including anyLiens and security interests granted or confirmed (as applicable) on the Reorganized Debtors'assets); (j) the vesting of the assets of the Debtors' Estates in the Reorganized Debtors; (k) theconsummation of the corporate reorganization contemplated by the Plan, the Lock-Up Agreement,the Agreed Steps Plan and the Master Reorganization Agreement (as defined in the RestructuringImplementation Deed); and (l) the execution, delivery, filing, or recording of all contracts,instruments, releases, and other agreements or documents in furtherance of the Plan. Accordingly,the Plan satisfies the requirements of section 1123(a)(5) of the Bankruptcy Codevi. Section 1123(a)(6) – Non-Voting Equity Securities.21. The Company's organizational documents in accordance with the SwedishCompanies Act, Ch. 4, Sec 5 and the Plan prohibit the issuance of non-voting securities as of theEffective Date to the extent required to comply with section 1123(a)(6) of the Bankruptcy Code.Accordingly, the Plan satisfies the requirements of section 1123(a)(6) of the Bankruptcy Code.vii. Section 1123(a)(7) – Directors, Officers, and Trustees.22. The manner of selection of any officer, director, or trustee (or any successorto and such officer, director, or trustee) of the Reorganized Debtors will be determined inaccordance with the existing organizational documents, which is consistent with the interests ofcreditors and equity holders and with public policy. Accordingly, the Plan satisfies therequirements of section 1123(a)(7) of the Bankruptcy Code.b. Section 1123(b) – Discretionary Contents of the Plan23. The Plan contains various provisions that may be construed as discretionarybut not necessary for Confirmation under the Bankruptcy Code. Any such discretionary provisionCCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Fileiledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 1 123 o of f1 1334513complies with section 1123(b) of the Bankruptcy Code and is not inconsistent with the applicableprovisions of the Bankruptcy Code. Thus, the Plan satisfies section 1123(b).i. Section 1123(b)(1) – Impairment/Unimpairment of Any Class of Claims orInterests24. Article III of the Plan impairs or leaves unimpaired, as the case may be,each Class of Claims or Interests, as contemplated by section 1123(b)(1) of the Bankruptcy Code.ii. Section 1123(b)(2) – Assumption and Rejection of Executory Contracts andUnexpired Leases25. Article V of the Plan provides for the assumption of the Debtors' ExecutoryContracts and Unexpired Leases as of the Effective Date unless such Executory Contract orUnexpired Lease: (a) is identified on the Rejected Executory Contract and Unexpired Lease List;(b) has been previously rejected by a Final Order; (c) is the subject of a motion to reject ExecutoryContracts or Unexpired Leases that is pending on the Confirmation Date; or (4) is subject to amotion to reject an Executory Contract or Unexpired Lease pursuant to which the requestedeffective date of such rejection is after the Effective Date. Thus, the Plan satisfies section1123(b)(2).iii. Compromise and Settlement26. In accordance with section 1123(b)(3)(A) of the Bankruptcy Code andBankruptcy Rule 9019, and in consideration for the distributions and other benefits provided underthe Plan, the provisions of the Plan constitute a good-faith compromise of all Claims, Interests,and controversies relating to the contractual, legal, and subordination rights that all holders ofClaims or Interests may have with respect to any Allowed Claim or Interest or any distribution tobe made on account of such Allowed Claim or Interest. Such compromise and settlement is theproduct of extensive arm's-length, good faith negotiations that, in addition to the Plan, resulted inCCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Fileiledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 1 134 o of f1 1334514the execution of the Lock-Up Agreement, which represents a fair and reasonable compromise ofall Claims, Interests, and controversies and entry into which represented a sound exercise of theDebtors' business judgment. Such compromise and settlement is fair, equitable, and reasonableand in the best interests of the Debtors and their Estates.27. The releases of the Debtors' directors and officers are an integral componentof the settlements and compromises embodied in the Plan. The Debtors' directors and officers: (a)made a substantial and valuable contribution to the Debtors' restructuring, including extensive preandpost-Petition Date negotiations with stakeholder groups, and ensured the uninterruptedoperation of the Debtors' businesses during the Chapter 11 Cases; (b) invested significant timeand effort to make the restructuring a success and maximize the value of the Debtors' businessesin a challenging operating environment; (c) attended and, in certain instances, testified atdepositions and Court hearings; (d) attended and participated in numerous stakeholder meetings,management meetings, and board meetings related to the restructuring; (e) are entitled toindemnification from the Debtors under applicable non-bankruptcy law, organizationaldocuments, and agreements; (f) invested significant time and effort in the preparation of the Lock-Up Agreement, the Plan, Disclosure Statement, all supporting analyses, and the numerous otherpleadings Filed in the Chapter 11 Cases, thereby ensuring the smooth administration of the Chapter11 Cases; and (g) are entitled to all other benefits under any employment contracts existing as ofthe Petition Date. Litigation by the Debtors or other Releasing Parties against the Debtors'directors and officers would be a distraction to the Debtors' business and restructuring and woulddecrease rather than increase the value of the estates. The releases of the Debtors' directors andofficers contained in the Plan have the consent of the Debtors and the Releasing Parties and are inthe best interests of the estates.CCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Fileiledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 1 145 o of f1 1334515iv. Debtor Release28. The releases of claims and Causes of Action by the Debtors, ReorganizedDebtors, and their Estates described in Article VIII.C of the Plan in accordance with section1123(b) of the Bankruptcy Code (the “Debtor Release”) represent a valid exercise of the Debtors'business judgment under Bankruptcy Rule 9019. The Debtors' or the Reorganized Debtors' pursuitof any such claims against the Released Parties is not in the best interests of the Estates' variousconstituencies because the costs involved would outweigh any potential benefit from pursuingsuch claims. The Debtor Release is fair and equitable and complies with the absolute priority rule.29. The Debtor Release is (a) an integral part of the Plan, and a component ofthe comprehensive settlement implemented under the Plan; (b) in exchange for the good andvaluable consideration provided by the Released Parties; (c) a good faith settlement andcompromise of the claims and Causes of Action released by the Debtor Release; (d) materiallybeneficial to, and in the best interests of, the Debtors, their Estates, and their stakeholders, and isimportant to the overall objectives of the Plan to finally resolve certain Claims among or againstcertain parties in interest in the Chapter 11 Cases; (e) fair, equitable, and reasonable; (f) given andmade after due notice and opportunity for hearing; and (g) a bar to any Debtor asserting any claimor Cause of Action released by the Debtor Release against any of the Released Parties. Theprobability of success in litigation with respect to the released claims and Causes of Action, whenweighed against the costs, supports the Debtor Release. With respect to each of these potentialCauses of Action, the parties could assert colorable defenses and the probability of success isuncertain. The Debtors' or the Reorganized Debtors' pursuit of any such claims or Causes ofAction against the Released Parties is not in the best interests of the Estates or the Debtors' variousCCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Fileiledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 1 156 o of f1 1334516constituencies because the costs involved would likely outweigh any potential benefit frompursuing such claims or Causes of Action30. Holders of Claims and Interests entitled to vote have overwhelmingly votedin favor of the Plan, including the Debtor Release. The Plan, including the Debtor Release, wasnegotiated before and after the Petition Date by sophisticated parties represented by able counseland advisors, including the Consenting Creditors. The Debtor Release is therefore the result of ahard fought and arm's-length negotiation process conducted in good faith.31. The Debtor Release appropriately offers protection to parties thatparticipated in the Debtors' restructuring process, including the Consenting Creditors, whoseparticipation in the Chapter 11 Cases is critical to the Debtors' successful emergence frombankruptcy. Specifically, the Released Parties, including the Consenting Creditors, madesignificant concessions and contributions to the Chapter 11 Cases, including, entering into theLock-Up Agreement and related agreements, supporting the Plan and the Chapter 11 Cases, andwaiving or agreeing to impair substantial rights and Claims against the Debtors under the Plan (aspart of the compromises composing the settlement underlying the revised Plan) in order tofacilitate a consensual reorganization and the Debtors' emergence from chapter 11. The DebtorRelease for the Debtors' directors and officers is appropriate because the Debtors' directors andofficers share an identity of interest with the Debtors and, as previously stated, supported and madesubstantial contributions to the success of the Plan, the Chapter 11 Cases, and operation of theDebtors' business during the Chapter 11 Cases, actively participated in meetings, negotiations, andimplementation during the Chapter 11 Cases, and have provided other valuable consideration tothe Debtors to facilitate the Debtors' successful reorganization and continued operation.CCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Fileiledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 1 167 o of f1 133451732. The scope of the Debtor Release is appropriately tailored under the factsand circumstances of the Chapter 11 Cases. In light of, among other things, the value provided bythe Released Parties to the Debtors' Estates and the critical nature of the Debtor Release to thePlan, the Debtor Release is appropriate.v. Release by Holders of Claims and Interests33. The release by the Releasing Parties (the “Third-Party Release”), set forthin Article VIII.D of the Plan, is an essential provision of the Plan. The Third-Party Release is: (a)consensual as to those Releasing Parties that did not specifically and timely object or properly optout from the Third-Party Release; (b) within the jurisdiction of the Bankruptcy Court pursuant to28 U.S.C. § 1334; (c) in exchange for the good and valuable consideration provided by theReleased Parties; (d) a good faith settlement and compromise of the claims and Causes of Actionreleased by the Third-Party Release; (e) materially beneficial to, and in the best interests of, theDebtors, their Estates, and their stakeholders, and is important to the overall objectives of the Planto finally resolve certain Claims among or against certain parties in interest in the Chapter 11Cases; (f) fair, equitable, and reasonable; (g) given and made after due notice and opportunity forhearing; (h) appropriately narrow in scope given that it expressly excludes, among other things,any Cause of Action that is judicially determined by a Final Order to have constituted actual fraud,willful misconduct, or gross negligence; (i) a bar to any of the Releasing Parties asserting anyclaim or Cause of Action released by the Third-Party Release against any of the Released Parties;and (j) consistent with sections 105, 524, 1123, 1129, and 1141 and other applicable provisions ofthe Bankruptcy Code.34. The Third-Party Release is an integral part of the agreement embodied inthe Plan among the relevant parties in interest. Like the Debtor Release, the Third-Party ReleaseCCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Fileiledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 1 178 o of f1 1334518facilitated participation in both the Debtors' Plan and the chapter 11 process generally. The Third-Party Release is instrumental to the Plan and was critical in incentivizing parties to support thePlan and preventing significant and time-consuming litigation regarding the parties' respectiverights and interests. The Third-Party Release was a core negotiation point in connection with thePlan and instrumental in developing the Plan that maximized value for all of the Debtors'stakeholders and kept the Debtors intact as a going concern. As such, the Third-Party Releaseappropriately offers certain protections to parties who constructively participated in the Debtors'restructuring process—including the Consenting Creditors (as set forth above)—by, among otherthings, facilitating the negotiation and consummation of the Plan, supporting the Plan and, in thecase of the Backstop Providers, committing to provide new capital to facilitate the Debtors'emergence from chapter 11. Specifically, the Notes Ad Hoc Group proposed and negotiated thepari passu transaction that is the basis of the restructuring proposed under the Plan and provideda much-needed deleveraging to the Debtors' business while taking a discount on their Claims (inexchange for other consideration).35. Furthermore, the Third-Party Release is consensual as to all parties ininterest, including all Releasing Parties, and such parties in interest were provided notice of thechapter 11 proceedings, the Plan, the deadline to object to confirmation of the Plan, and theCombined Hearing and were properly informed that all holders of Claims against or Interests inthe Debtors that did not file an objection with the Court in the Chapter 11 Cases that included anexpress objection to the inclusion of such holder as a Releasing Party under the provisionscontained in Article VIII of the Plan would be deemed to have expressly, unconditionally,generally, individually, and collectively consented to the release and discharge of all claims andCauses of Action against the Debtors and the Released Parties. Additionally, the release provisionsCCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Fileiledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 1 189 o of f1 1334519of the Plan were conspicuous, emphasized with boldface type in the Plan, the DisclosureStatement, the Ballots, and the applicable notices. Except as set forth in the Plan, all ReleasingParties were properly informed that unless they (a) checked the “opt out” box on the applicableBallot or opt-out form and returned the same in advance of the Voting Deadline, as applicable, or(b) timely Filed an objection to the releases contained in the Plan that was not resolved beforeentry of this Confirmation Order, they would be deemed to have expressly consented to the releaseof all Claims and Causes of Action against the Released Parties.36. The Ballots sent to all holders of Claims and Interests entitled to vote, aswell as the notice of the Combined Hearing sent to all known parties in interest (including thosenot entitled to vote on the Plan), unambiguously provided in bold letters that the Third-PartyRelease was contained in the Plan.37. The scope of the Third-Party Release is appropriately tailored under thefacts and circumstances of the Chapter 11 Cases, and parties in interest received due and adequatenotice of the Third-Party Release. Among other things, the Plan provides appropriate and specificdisclosure with respect to the claims and Causes of Action that are subject to the Third-PartyRelease, and no other disclosure is necessary. The Debtors, as evidenced by the VotingDeclaration and Certificate of Publication, including by providing actual notice to all knownparties in interest, including all known holders of Claims against, and Interests in, any Debtor andpublishing notice in international and national publications for the benefit of unknown parties ininterest, provided sufficient notice of the Third-Party Release, and no further or other notice isnecessary. The Third-Party Release is designed to provide finality for the Debtors, theReorganized Debtors and the Released Parties regarding the parties' respective obligations underthe Plan. For the avoidance of doubt, and notwithstanding anything to the contrary, anyparty who timely opted-out of the Third-Party Release is not bound by the Third-PartyRelease.CCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Fileiledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 1 290 o of f1 133452038. The Third-Party Release is specific in language, integral to the Plan, andgiven for substantial consideration. The Releasing Parties were given due and adequate notice ofthe Third-Party Release, and thus the Third-Party Release is consensual under controllingprecedent as to those Releasing Parties that did not specifically and timely object. In light of,among other things, the value provided by the Released Parties to the Debtors' Estates and theconsensual and critical nature of the Third-Party Release to the Plan, the Third-Party Release isappropriatevi. Exculpation.39. The exculpation described in Article VIII.E of the Plan (the “Exculpation”)is appropriate under applicable law, including In re Highland Capital Mgmt., L.P., 48 F. 4th 419(5th Cir. 2022), because it was supported by proper evidence, proposed in good faith, wasformulated following extensive good-faith, arm's-length negotiations with key constituents, and isappropriately limited in scope.40. No Entity or Person may commence or continue any action, employ anyprocess, or take any other act to pursue, collect, recover or offset any Claim, Interest, debt,obligation, or Cause of Action relating or reasonably likely to relate to any act or commission inconnection with, relating to, or arising out of a Covered Matter (including one that alleges theactual fraud, gross negligence, or willful misconduct of a Covered Entity), unless expresslyauthorized by the Bankruptcy Court after (1) it determines, after a notice and a hearing, such Claim,Interest, debt, obligation, or Cause of Action is colorable and (2) it specifically authorizes suchEntity or Person to bring such Claim or Cause of Action. The Bankruptcy Court shall have soleand exclusive jurisdiction to determine whether any such Claim, Interest, debt, obligation or Causeof Action is colorable and, only to the extent legally permissible and as provided for in Article XI,CCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Fileiledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 2 201 o of f1 1334521shall have jurisdiction to adjudicate such underlying colorable Claim, Interest, debt, obligation, orCause of Action.vii. Injunction.41. The injunction provisions set forth in Article VIII.F of the Plan are essentialto the Plan and are necessary to implement the Plan and to preserve and enforce the discharge,Debtor Release, the Third-Party Release, and the Exculpation provisions in Article VIII of thePlan. The injunction provisions are appropriately tailored to achieve those purposes.viii. Preservation of Claims and Causes of Action.42. Article IV.L of the Plan appropriately provides for the preservation by theDebtors of certain Causes of Action in accordance with section 1123(b) of the Bankruptcy Code.Causes of Action not released by the Debtors or exculpated under the Plan will be retained by theReorganized Debtors as provided by the Plan. The Plan is sufficiently specific with respect to theCauses of Action to be retained by the Debtors, and the Plan and Plan Supplement providemeaningful disclosure with respect to the potential Causes of Action that the Debtors may retain,and all parties in interest received adequate notice with respect to such retained Causes of Action.The provisions regarding Causes of Action in the Plan are appropriate and in the best interests ofthe Debtors, their respective Estates, and holders of Claims or Interests. For the avoidance of anydoubt, Causes of Action released or exculpated under the Plan will not be retained by theReorganized Debtors.c. Section 1123(d) – Cure of Defaults43. Article V.D of the Plan provides for the satisfaction of Cure Claimsassociated with each Executory Contract and Unexpired Lease to be assumed in accordance withsection 365(b)(1) of the Bankruptcy Code. Any monetary defaults under each assumed ExecutoryCCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Fileiledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 2 212 o of f1 1334522Contract or Unexpired Lease shall be satisfied, pursuant to section 365(b)(1) of the BankruptcyCode, by payment of the default amount in Cash on the Effective Date, subject to the limitationsdescribed in Article V.D of the Plan, or on such other terms as the parties to such ExecutoryContracts or Unexpired Leases may otherwise agree. Any Disputed Cure Amounts will bedetermined in accordance with the procedures set forth in Article V.D of the Plan, and applicablebankruptcy and nonbankruptcy law. As such, the Plan provides that the Debtors will Cure, orprovide adequate assurance that the Debtors will promptly Cure, defaults with respect to assumedExecutory Contracts and Unexpired Leases in accordance with section 365(b)(1) of theBankruptcy Code. Thus, the Plan complies with section 1123(d) of the Bankruptcy Code.d. Section 1129(a)(2) – Compliance of the Debtors and Others with the ApplicableProvisions of the Bankruptcy Code.44. The Debtors, as proponents of the Plan, have complied with all applicableprovisions of the Bankruptcy Code as required by section 1129(a)(2) of the Bankruptcy Code,including sections 1122, 1123, 1124, 1125, 1126, and 1128, and Bankruptcy Rules 3017, 3018,and 3019.e. Section 1129(a)(3) – Proposal of Plan in Good Faith.45. The Debtors have proposed the Plan in good faith, in accordance with theBankruptcy Code requirements, and not by any means forbidden by law. In determining that thePlan has been proposed in good faith, the Court has examined the totality of the circumstancesfiling of the Chapter 11 Cases, including the formation of Intrum AB of Texas LLC (“IntrumTexas”), the Plan itself, and the process leading to its formulation. The Debtors' good faith isevident from the facts and record of the Chapter 11 Cases, the Disclosure Statement, and the recordof the Combined Hearing and other proceedings held in the Chapter 11 CasesCCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Fileiledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 2 223 o of f1 133452346. The Plan (including the Plan Supplement and all other documents necessaryto effectuate the Plan) is the product of good faith, arm's-length negotiations by and among theDebtors, the Debtors' directors and officers and the Debtors' key stakeholders, including theConsenting Creditors and each of their respective professionals. The Plan itself and the processleading to its formulation provide independent evidence of the Debtors' and such other parties'good faith, serve the public interest, and assure fair treatment of holders of Claims or Interests.Consistent with the overriding purpose of chapter 11, the Debtors Filed the Chapter 11 Cases withthe belief that the Debtors were in need of reorganization and the Plan was negotiated and proposedwith the intention of accomplishing a successful reorganization and maximizing stakeholder value,and for no ulterior purpose. Accordingly, the requirements of section 1129(a)(3) of the BankruptcyCode are satisfied.f. Section 1129(a)(4) – Court Approval of Certain Payments as Reasonable.47. Any payment made or to be made by the Debtors, or by a person issuingsecurities or acquiring property under the Plan, for services or costs and expenses in connectionwith the Chapter 11 Cases, or in connection with the Plan and incident to the Chapter 11 Cases,has been approved by, or is subject to the approval of, the Court as reasonable. Accordingly, thePlan satisfies the requirements of section 1129(a)(4).g. Section 1129(a)(5)—Disclosure of Directors and Officers and Consistency with theInterests of Creditors and Public Policy.48. The identities of or process for appointment of the Reorganized Debtors'directors and officers proposed to serve after the Effective Date were disclosed in the PlanSupplement in advance of the Combined Hearing. Accordingly, the Debtors have satisfied therequirements of section 1129(a)(5) of the Bankruptcy Code.CCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Fileiledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 2 234 o of f1 1334524h. Section 1129(a)(6)—Rate Changes.49. The Plan does not contain any rate changes subject to the jurisdiction of anygovernmental regulatory commission and therefore will not require governmental regulatoryapproval. Therefore, section 1129(a)(6) of the Bankruptcy Code does not apply to the Plan.i. Section 1129(a)(7)—Best Interests of Holders of Claims and Interests.50. The liquidation analysis attached as Exhibit D to the Disclosure Statementand the other evidence in support of the Plan that was proffered or adduced at the CombinedHearing, and the facts and circumstances of the Chapter 11 Cases are (a) reasonable, persuasive,credible, and accurate as of the dates such analysis or evidence was prepared, presented orproffered; (b) utilize reasonable and appropriate methodologies and assumptions; (c) have not beencontroverted by other evidence; and (d) establish that each holder of Allowed Claims or Interestsin each Class will recover as much or more value under the Plan on account of such Claim orInterest, as of the Effective Date, than the amount such holder would receive if the Debtors wereliquidated on the Effective Date under chapter 7 of the Bankruptcy Code or has accepted the Plan.As a result, the Debtors have demonstrated that the Plan is in the best interests of their creditorsand equity holders and the requirements of section 1129(a)(7) of the Bankruptcy Code are satisfied.j. Section 1129(a)(8)—Conclusive Presumption of Acceptance by UnimpairedClasses; Acceptance of the Plan by Certain Voting Classes.51. The classes deemed to accept the Plan are Unimpaired under the Plan andare deemed to have accepted the Plan pursuant to section 1126(f) of the Bankruptcy Code. EachVoting Class voted to accept the Plan. For the avoidance of doubt, however, even if section1129(a)(8) has not been satisfied with respect to all of the Debtors, the Plan is confirmable becausethe Plan does not discriminate unfairly and is fair and equitable with respect to the Voting Classesand thus satisfies section 1129(b) of the Bankruptcy Code with respect to such Classes as describedCCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Fileiledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 2 245 o of f1 1334525further below. As a result, the requirements of section 1129(b) of the Bankruptcy Code are alsosatisfied.k. Section 1129(a)(9)—Treatment of Claims Entitled to Priority Pursuant to Section507(a) of the Bankruptcy Code.52. The treatment of Administrative Claims, Professional Fee Claims, andPriority Tax Claims under Article II of the Plan satisfies the requirements of, and complies in allrespects with, section 1129(a)(9) of the Bankruptcy Code.l. Section 1129(a)(10)—Acceptance by at Least One Voting Class.53. As set forth in the Voting Declaration, all Voting Classes overwhelminglyvoted to accept the Plan. As such, there is at least one Voting Class that has accepted the Plan,determined without including any acceptance of the Plan by any insider (as defined by theBankruptcy Code), for each Debtor. Accordingly, the requirements of section 1129(a)(10) of theBankruptcy Code are satisfied.m. Section 1129(a)(11)—Feasibility of the Plan.54. The Plan satisfies section 1129(a)(11) of the Bankruptcy Code. Thefinancial projections attached to the Disclosure Statement as Exhibit D and the other evidencesupporting the Plan proffered or adduced by the Debtors at or before the Combined Hearing: (a)is reasonable, persuasive, credible, and accurate as of the dates such evidence was prepared,presented, or proffered; (b) utilize reasonable and appropriate methodologies and assumptions; (c)has not been controverted by other persuasive evidence; (d) establishes that the Plan is feasibleand Confirmation of the Plan is not likely to be followed by liquidation or the need for furtherfinancial reorganization; (e) establishes that the Debtors will have sufficient funds available tomeet their obligations under the Plan and in the ordinary course of business—including sufficientamounts of Cash to reasonably ensure payment of Allowed Claims that will receive CashCCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Fileiledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 2 256 o of f1 1334526distributions pursuant to the terms of the Plan and other Cash payments required under the Plan;and (f) establishes that the Debtors or the Reorganized Debtors, as applicable, will have thefinancial wherewithal to pay any Claims that accrue, become payable, or are allowed by FinalOrder following the Effective Date. Accordingly, the Plan satisfies the requirements of section1129(a)(11) of the Bankruptcy Code.n. Section 1129(a)(12)—Payment of Statutory Fees.55. Article XII.C of the Plan provides that all fees payable pursuant to section1930(a) of the Judicial Code, as determined by the Court at the Confirmation Hearing inaccordance with section 1128 of the Bankruptcy Code, will be paid by each of the applicableReorganized Debtors for each quarter (including any fraction of a quarter) until the Chapter 11Cases are converted, dismissed, or closed, whichever occurs first. Accordingly, the Plan satisfiesthe requirements of section 1129(a)(12) of the Bankruptcy Code.o. Section 1129(a)(13)—Retiree Benefits.56. Pursuant to section 1129(a)(13) of the Bankruptcy Code, and as provided inArticle IV.K of the Plan, the Reorganized Debtors will continue to pay all obligations on accountof retiree benefits (as such term is used in section 1114 of the Bankruptcy Code) on and after theEffective Date in accordance with applicable law. As a result, the requirements of section1129(a)(13) of the Bankruptcy Code are satisfied.p. Sections 1129(a)(14), (15), and (16)—Domestic Support Obligations, Individuals,and Nonprofit Corporations.57. The Debtors do not owe any domestic support obligations, are notindividuals, and are not nonprofit corporations. Therefore, sections 1129(a)(14), 1129(a)(15), and1129(a)(16) of the Bankruptcy Code do not apply to the Chapter 11 Cases.CCaassee 2 244-9-900557755 D Dooccuummeennt t2 29663-2 F Fileiledd i nin T TXXSSBB o onn 1 021/3/113/2/245 P Paaggee 2 267 o of f1 1334527q. Section 1129(b)—Confirmation of the Plan Over Nonacceptance of VotingClasses.58. No Classes rejected the Plan, and section 1129(b) is not applicable here,but even if it were, the Plan may be confirmed pursuant to section 1129(b)(1) of the BankruptcyCode because the Plan is fair and equitable with respect to the Deemed Rejecting Classes. ThePlan has been proposed in good faith, is reasonable, and meets the requirements and all VotingClasses have voted to accept the Plan. The treatment of Intercompany Claims and IntercompanyInterests under the Plan provides for administrative convenience does not constitute a distributionunder the Plan on account of suc

Join us for an incredible journey with Adam Gower, a master in real estate and online marketing, who transitioned from working as an electrician in California to becoming a key player in capital raising for large-scale developments. Adam shares his remarkable story, including his adventures in Japan during the savings and loan crisis, where he raised funds from Japanese investors for multifamily projects. His experience highlights the power of resilience and adaptability, showcasing how he overcame language barriers to become a fluent Japanese speaker and a pivotal figure in the real estate industry.Prepare to unlock the secrets of capital raising with Regulation D offerings, as we explore the nuances of 506b and 506c and their implications for investor outreach. Discover how platforms like Facebook and LinkedIn can be leveraged for lead generation, and why the lifetime value of investors is more critical than initial acquisition costs. Through engaging discussions, you'll learn how to harness the power of a strong online presence and educational content to build credibility and long-lasting relationships with investors.We also delve into the innovative realm of AI in real estate, with insights into companies like Dono.AI revolutionizing title searches and off-market deal identification. From AI's transformative potential to enhancing your email marketing strategies, this episode is packed with valuable tips to elevate your real estate endeavors. Enhance your lead generation with LinkedIn and newsletters, and stay ahead of the curve with our upcoming LinkedIn training. Don't miss out on the opportunity to expand your knowledge and connect with industry experts through our weekly newsletter and exclusive webinar offers.If you need help finding the perfect location or your ready to invest in commercial real estate, email us at admin@leadersre.com Sign up for a FREE vulnerability analysis and lease renewal services View our library on apple podcasts or REUniversity.org. Connect on Facebook. Commercial Real Estate Secrets is ranked in the top 50 podcasts on real estate

Send us a textDiscover the secrets of real estate syndications with Richard Crouch, a distinguished attorney whose legal expertise spans 19 states. Richard sheds light on the intricate world of real estate law, offering insights into topics like historic tax credits and opportunity zones that can reshape your investment strategies. Learn why "time kills deals" and the importance of transparency and honesty in legal advising. Richard's journey into law is filled with lessons from mentors who emphasized the value of admitting when you don't have all the answers but committing to finding them.Explore the complexities of distinguishing between accredited and sophisticated investors under Rule 506(b) of Regulation D and the strategic considerations between joint ventures and syndications. Richard explains how deal size and complexity influence investment structure choices and delves into unique arrangements like tenants in common, especially in 1031 tax-deferred exchanges. Understand the legal and financial frameworks that guide real estate investments, ensuring you're equipped to make informed decisions in a challenging market.Navigate the compliance maze of the Corporate Transparency Act with insights on FinCEN reporting requirements and the repercussions of non-compliance. Richard shares his personal and professional purpose, emphasizing the value of mentorship and the meaningful connections that drive success beyond mere financial achievements. Embrace honesty and transparency as vital tools for maintaining a stellar reputation, and find inspiration in Richard's personal passions, including his commitment to running races with Team Hoyt. Get ready to enrich your understanding of real estate law and the drive to achieve client success.Clark St Digital helps you grow your real estate company with:Amazing Overseas Talent who cost 80% less than their US equivalentsDone-For-You subscription servicesDone-For-You project servicesGo to ClarkStDigital.com to schedule your free strategy meeting. Keyholders Collective is an exclusive community of accomplished, high-integrity and collaborative real estate entrepreneurs and investors. To learn more, go to: KeyholdersCollective.com Additional Resources: Clark St Capital: https://www.clarkst.com Clark St Digital: https://www.clarkstdigital.com Keyholders Collective: https://www.keyholderscollective.com YouTube: https://www.youtube.com/@clarkstcapital Podcast: https://bit.ly/3LzZdDx LinkedIn: https://www.linkedin.com/company/clark-st-capital Twitter: https://twitter.com/clarkstcapital1 Facebook: https://www.facebook.com/ClarkStCapital Instagram: https://www.instagram.com/clarkstcapital

Understanding Regulation DThis time, we dive deep into the world of raising capital through Regulation D with the help of our esteemed guest, Mr. Tilden, an experienced securities attorney. Whether you're a seasoned investor or just starting out, this episode is packed with insights that can help you navigate the complexities of capital raising.Key Takeaways from the Episode:1. Understanding Securities:What is a Security? & Why It Matters**: Knowing this helps you understand what falls under securities laws and why compliance is crucial.2. Regulation D Overview:Exemptions Explained**: Regulation D allows companies to raise capital without SEC registration, provided they meet specific criteria.3. Accredited Investors:Who Qualifies?**: Net worth over $1 million (excluding primary residence) or income of $200,000 ($300,000 with a spouse) for the past two years.Verification**: Essential for compliance, especially under Rule 506c.4. Choosing Between 506b and 506c:5. Transitioning Between Rules:6. Protecting Non-Accredited Investors:Limitations**: Rule 506b allows only a limited number of non-accredited investor7. Emotional Side of Deal-Making:Passion and Drive**: Successful capital raising often hinges on your enthusiasm and the compelling story behind your project.8. Friends and Family Investments:Compliance**: Even investments from close relations must comply with securities laws to avoid legal issues.Why Listen?This episode is a treasure trove of practical advice and expert insights that can help you successfully navigate the regulatory landscape of raising capital. Whether you're looking to understand the nuances of Regulation D or seeking strategies to attract investors, this conversation with Mr. Tilden is a must-listen.Connect and EngageI encourage you to reach out to Mr. Tilden for further insights and to express your gratitude for his valuable contributions. His contact information is available in the show notes, and you can also connect with me directly if you have deals you'd like to discuss on "The Deal Scout."https://www.linkedin.com/in/tildenm/https://www.youtube.com/@syndicationattorneyNext Steps Share your thoughts with a review - https://www.thedealscout.com/reviews/ Let's connect on LinkedIn - https://www.linkedin.com/in/joshuabrucewilson/ Subscribe and Watch on YouTube - https://www.youtube.com/channel/UCBQN_Y3nhDGClfMxCSBDjOg Disclaimer: The content shared on this podcast is for informational purposes only and should not be taken as financial, legal, or tax advice. The views and opinions expressed are those of the host, Josh Wilson, and any guests, and do not necessarily reflect the official policy or position of any agency or organization. Josh Wilson is a licensed real estate broker and an investment banker, but this podcast is not a substitute for professional advice. We strongly recommend that you consult with a qualified financial advisor, legal counsel, and tax professional before making any financial decisions or taking any actions based on the information provided in this podcast.

ABOUT TILDEN MOSCHETTITilden Moschetti is a commercial real estate and syndication attorney for the Moschetti Law Group. He holds an MBA in addition to a law degree, is a Certified Commercial Investment Member, and has advanced financial analysis training that allows him to offer clients a clear view on the economic decisions they are making.  Tilden has served exclusively as legal counsel to securities and Reg D syndication clients for the last nine years. He's been a real estate attorney for nineteen years of law practice and brokered and consulted on hundreds of thousands of square feet of commercial real estate. He's also an active Reg D syndicator. He also has the extensive, hands-on syndication experience to lean into.      THIS TOPIC IN A NUTSHELL: Tilden's Journey from Attorney to SyndicatorReal estate Litigation Partnership and first real estate deal How Litigation Skills Help in SyndicationFinding and Underwriting DealsTypes of Deals they have doneAbout the Medical Office Deal What are their baseline criteria for their target market? Metrics of this deal and how they found itWhat do they like about this deal?Project plan, hold time, and Exit planTarget Returns and ways to improve the NOIFinancing and Raising CapitalWhy this Deal is SuccessfulConnect with Tilden   KEY QUOTE:  “Focusing on the story of the deal and telling investors that we're going to make this a very safe deal for them. Investors will trust you more for it because you did exactly what you were going to do.”    SUMMARY OF BUSINESS: Moschetti Syndication Law Group – the firm specializes in providing expert legal guidance for raising capital through Regulation D. Our services cater to various sectors, including real estate, entrepreneurs, crypto-businesses, and private equity. We pride ourselves on preparing customized, attorney-drafted private placement memorandums, operating agreements, and subscription agreements. Our primary focus is to ensure compliance with Regulation D, allowing you to navigate the capital raising process confidently and successfully.  ABOUT THE WESTSIDE INVESTORS NETWORK   The Westside Investors Network is your community for investing knowledge for growth. For real estate professionals by real estate professionals. This show is focused on the next step in your career... investing, for those starting with nothing to multifamily syndication.     The Westside Investors Network strives to bring knowledge and education to real estate professional that is seeking to gain more freedom in their life. The host AJ and Chris Shepard, are committed to sharing the wealth of knowledge that they have gained throughout the years to allow others the opportunity to learn and grow in their investing. They own Uptown Properties, a successful Property Management, and Brokerage Company. If you are interested in Property Management in the Portland Metro or Bend Metro Areas, please visit www.uptownpm.com. If you are interested in investing in multifamily syndication, please visit www.uptownsyndication.com.       #RealEstateWealth #RealEstateInvesting #MultiFamily #AssetManagement #TargetReturns #SyndicationAttorney #Syndicator #Investors #CommercialRealEstate #RaisingCapital #RegulationD #SecuritiesAttorney #Entrepreneur #SyndicationCoach #LegalExperts #PrivatePlacementMemorandums #LitigationSkills #NegotiationSkills #Underwriting #MedicalOfficeDeal #PassiveInvestment #RealEstateStrategy #FinancialFreedom #InvestmentOpportunities #InvestmentInsights #RealEstateTips #DealDeepDive #Syndication #JoinTheWINpod #WestsideInvestorsNetwork   CONNECT WITH TILDEN:Website:  https://www.moschettilaw.com Facebook: https://www.facebook.com/syndication.attorneys Instagram: https://www.instagram.com/moschettilaw YouTube: https://www.youtube.com/@syndicationattorney       CONNECT WITH US   For more information about investing with AJ and Chris:  ·    Uptown Syndication | https://www.uptownsyndication.com/  ·    LinkedIn | https://www.linkedin.com/company/71673294/admin/   For information on Portland Property Management:  ·    Uptown Properties | http://www.uptownpm.com  ·    Youtube | @UptownProperties     Westside Investors Network  ·    Website | https://www.westsideinvestorsnetwork.com/  ·    Twitter | https://twitter.com/WIN_pdx  ·    Instagram | @westsideinvestorsnetwork  ·    LinkedIn | https://www.linkedin.com/groups/13949165/  ·    Facebook | @WestsideInvestorsNetwork  ·    Tiktok| @WestsideInvestorsNetwork  ·    Youtube | @WestsideInvestorsNetwork  

Join us for an in-depth session on syndication 101 with Tilden Moschetti, a seasoned expert in real estate investing. Discover how you can unlock the secrets to syndication success and take your multifamily assets and investment portfolio to new heights.In this episode, you'll learn:The fundamentals of syndication and how it can transform your real estate investment strategy.The differences between Rule 506b and Rule 506c under Regulation D, and how to choose the right approach for your syndication.Key steps to start your own syndication or fund, including building your investor base and finding the best deals.Essential tips on working with legal and accounting professionals to ensure your syndication is compliant and successful.The importance of continuous investor communication and maintaining transparency.

In this detailed episode of "The Real Estate Vibe Show," host Vinki Loomba is joined by Adnan Merchant, a distinguished corporate business and private securities attorney. They delve deep into the nuanced world of securities compliance and private investments. Discussions in this episode include:✅ Key legal frameworks affecting private equity and venture capital✅ The impact of securities laws on real estate investments✅ Insights into Regulation D and its exemptions✅ Strategies for managing private investment funds effectively✅ The role of special purpose vehicles (SPVs) and fund of funds in investment structuringAdnan also discusses the intricacies of navigating legal compliance and the evolving regulations that impact investment strategies. This episode is essential for anyone interested in understanding private investments' complex legal landscape and compliance's importance in ensuring successful investment outcomes.

My guest is Etan Butler! Etan is the charismatic and innovative Chair of Dalmore Group, a FINRA-registered national Broker Dealer Investment Bank founded in 2005. Under his leadership, Dalmore has grown significantly, transitioning from traditional investment banking services to specializing in helping companies raise capital through the SEC's Regulation D, Regulation A+, and Regulation CF. Etan has been instrumental in making Dalmore the leading Broker Dealer for Regulation A+ offerings, having served on over 270 such offerings, including some of the most successful in history. A recognized pioneer in the Regulation A+ and Crowdfunding industry, Etan is a frequent speaker on funding innovation and customization and was named industry leader of the year at the 2022 Equity Crowdfunding Awards. Dalmore Group also offers business planning, development, and capital introduction services across various industries, participating in significant investment and structured transactions. Etan is also President of EMB Capital, LLC, investing in early-stage fintech ventures. He graduated from Yeshiva University's Sy Syms School of Business and is registered with FINRA as a General Securities Principal. Etan lives in New York with his wife and three children. Join Etan and me at the upcoming Reg A Conference, the premier event for industry leaders and innovators in the Regulation A+ space. The conference will be held on June 20, 2024, in New York City. It provides a unique opportunity to network with top professionals, gain insights from expert panels, and stay ahead of the curve in crowdfunding and capital raising.  Use code DNA300 to get $300 off your ticket! Don't miss this chance to connect with pioneers like Etan Butler and elevate your knowledge and strategies in the industry. Social and Website: Linkedin: https://www.linkedin.com/in/manujgrover/ Reg A Conference: https://regaconference.com/ Follow Digital Niche Agency on Socials for Up To Date Marketing Expertise and Insights: Facebook: https://www.facebook.com/digitalniche... Linkedin: https://www.linkedin.com/company/digi... Instagram: DNA - Digital Niche Agency @digitalnicheagency • Instagram photos and videos. Twitter: https://twitter.com/DNAgency_CA YouTube: https://www.youtube.com/channel/UCDlz…

Are you well-informed about the legalities and risks of syndicating deals and raising money? In this episode, Tilden Moschetti generously shares his expertise in the syndication space and its complexity, the legal steps you should know from acquiring to structuring and operating deals, capital raising, fund of funds, and more.So, whether you're an active syndicator or someone planning to enter the syndication world and looking for an extensive guide, this conversation will help you learn about leveraging investors' capital and equity!Key Points & Relevant TopicsTilden's law background and the start of his real estate journey through syndicationHow Tilden made his first deal successful despite the challenges of being a new syndicator and capital raiserFinding the right deal to invest in, winning your investors' trust, structuring a deal and its legal frameworkWays to identify investors' motivation for investing in syndicationAdvice on how to succeed in the syndication spaceThings that set efficient syndication/security attorneys apart from others practicing the same law in real estateTypical investor questions attorneys are receiving from syndicatorsThe two biggest mistakes syndicators make in a dealWhat happens if a syndicator or deal does not have a PPM?Risks involved in the fund of funds model and finders feeTilden's perspective on the current market trends and the evolution of AIResources & LinksApartment Syndication Due Diligence Checklist for Passive InvestorAbout Tilden Moschetti, CCIM, Esq. Tilden Moschetti, Esq. is a syndication attorney that focuses exclusively on Regulation D offerings for real estate syndicators, business owners, entrepreneurs, and private equity funds. Tilden is a highly regarded expert in syndication as an attorney, a syndication coach, General Counsel to two private equity funds, and an active syndicator himself. He has been featured on NPR, NBC News, People Magazine, the National Law Journal, the San Francisco Chronicle, and the Los Angeles Business Journal. A fundamental difference between Tilden and other attorneys is that Tilden came to the practice of syndication law as a syndicator of his own deals first. Tilden's practice as a real estate attorney changed gears when a partner showed him a deal and asked him if they could syndicate that deal together. Both investors and Tilden made a great return, so he kept syndicating. As his successes grew doing deals, 9 years ago he refocused his firm away from real estate law, to syndication law exclusively. Get in Touch with TildenWebsite: https://www.moschettilaw.com/ YouTube: Moschetti Syndication Law PLLCTo Connect With UsPlease visit our website www.bonavestcapital.com and click here to leave a rating and written review!

Unlock the secrets to a revolutionary lifestyle with "The True Power of Biohacking Your Life Revealed!" Dive deep into the world of biohacking with Elisabeth and Billy Carson, the masterminds behind 4biddenknowledge, as they guide you through the transformative practices that can upgrade your life. From enhancing physical prowess to sharpening mental acuity, this video is your gateway to becoming the ultimate version of yourself.Are you ready to rewrite the code of your existence? To experience life on a level you never thought possible? Join us on an exhilarating journey as we reveal the biohacks that have the power to unlock your full potential. Say goodbye to limitations and hello to a life where anything is possible!Don't miss this exclusive opportunity to gain insights from the forefront of human evolution. Subscribe now, join the movement, and start your own biohacking adventure today. If you're intrigued by ancient mysteries, extraterrestrials, or the lost city of Atlantis, investing in your personal growth with our guidance is a game-changer. 4bk.tv for more infoFor those who crave even more knowledge, explore our workshops, tours, and investment opportunities at 4biddenknowledge.com . Get ready to venture into the unknown with Elisabeth and Billy Carson and witness what lies beyond the veil. Are you prepared to elevate your existence? Watch now and transform your life with the true power of biohacking!

I'm not a financial advisor; nothing I write in Superpowers for Good should be considered investment advice. You should seek appropriate counsel before making investment decisions.Remember, you can watch the Superpowers for Good show on e360tv. To watch the episode, download the #e360tv channel app to your streaming device–Roku, AppleTV or AmazonFireTV–or your mobile device. You can even watch it on the web.Devin: What do you see now as your superpower?John: When you're working with experienced people, you know what it's like to be in the trenches trying to keep a business running and raise capital. You have this attitude of “we will find a way” that powers my superpower if I have one.Folla Capital CEO John Panaccione speaks in a matter-of-fact manner that makes his unusual wisdom and insight seem banal. It's not. Trust me. He gets things others miss; you'll want to tune in to understand what he's sharing.“We're an investment banking firm,” John says as he begins introducing his firm. “We help small businesses and entrepreneurs think through capital strategies; if and when they need to raise capital, we help them do that. We focus on minorities, women and veterans.” John served as an Army paratrooper in the 82nd Airborne Division in the first Gulf War. “Because of my background, we've served a lot of veterans,” he says.  “But we're not exclusive to those three groups.”Folla Capital helps small businesses raise capital at a meaningful scale, typically over $1 million. FINRA and the SEC authorize the firm to conduct offerings under six different exemptions from registration, including Regulation Crowdfunding and Regulation A+, offerings open to everyone. The firm often helps clients raise under Regulation D 506(c), offering offerings open only to accredited investors. Looking at the investing landscape, John sees advantages for issuers using debt rather than equity.“We're a big believer in debt offerings for small businesses,” John says. “One of the biggest advantages of a debt offering is the investor doesn't have to wait till the company sold to get their money back.”John teased the audience with an upcoming $10 million debt round for a small business in Virginia that is building a manufacturing facility.Folla Capital is currently supporting veteran Marines with a raise for Rally Point Grill. The eight-year-old restaurant business is working to create a successful franchise model to facilitate expansion. The restaurants feature genuine artifacts from past service, much like a museum, to honor veterans in the local community around the restaurant. The $1.2 million revenue-sharing offering is open to accredited investors.John uses his superpower, a combination of experience and a can-do attitude, to grow his business and help clients.AI Episode Summary1. Devin Thorpe hosts the Superpowers for Good Show and introduces John Panaccione, CEO and founder of Folla Capital, emphasizing John's dedication to supporting the veteran community.2. John's firm, Folla Capital, is an SEC-registered broker-dealer investment banking firm that helps small businesses and entrepreneurs develop capital strategies and facilitates capital raising, particularly focusing on minorities, women, and veterans.3. John expresses his dislike for the term "crowdfunding," preferring to describe the capital raising process as using internet technology to leverage various SEC exemptions to fund businesses.4. Folla Capital has successfully completed several capital raises using different SEC regulations, including Regulation D for accredited investors and Regulation CF (crowdfunding) for general public investment.5. John highlights an innovative debt offering through Folla Capital that enables Rally Point Grill, owned by prior-service Marines, to raise capital as if they are the bank for their franchises, allowing both investors and franchisees to benefit from the capital raised.6. Devin discusses the importance of investment crowdfunding in filling funding gaps that banks can't, highlighting the diversity of crowdfunding's role in different stages of companies' growth.7. John believes in the value of debt offerings as opposed to equity for small businesses, as it allows investors to potentially see returns without waiting for a company sale.8. An example of a complex convertible bond offering is mentioned, starting at $10 million for funding a manufacturing facility in western Virginia, with an intention to roll into a $40 million Regulation A offering down the line.9. John credits his military background with the paratroopers as a source of his 'superpower,' which he sees as the never-quit attitude and a strong focus on teamwork honed by his experiences that lead towards finding solutions during tough times.10. John emphasizes the significance of building a strong team of advisors and mentors, especially in entrepreneurship, to foster resilience and suggests that those new to business should not go it alone and instead learn from experienced individuals.How to Develop Experience and a Can-Do Attitude As a SuperpowerJohn didn't come by his superpower–the combination of experience and a can-do attitude–as a genetic trait. He earned it through two framing experiences.“I've been a small business owner and startup entrepreneur,” John says. “I've raised capital the old-fashioned way, and everything that could go wrong did go wrong over 17 years that I ran my startup and I sold it. I like to say I had to have the smile surgically removed from my face the day after I sold it.”That experience provides one-half of his superpower. The other comes from his military service.I was privileged to serve in the Army. I was privileged to serve the country. My specialty was I jumped out of airplanes. I was a paratrooper in the 82nd Airborne Division, and that occurred in my 20s. I was a young man then, my early 20s into my mid to late 20s is when I served there. I was around great leaders, and I learned a lot from great leaders. The top leaders in the Army lead that division because it's the first one to go to war. The culture there was unbelievable. A paratrooper typically–never–has enough resources and is always surrounded. But the culture is you're never going to lose; like there's always a way to win.So, the can-do attitude he learned in the Army pairs with his business experience to give him a superpower to support entrepreneurs.He shared a defining experience from his days as an entrepreneur:I had three banks that provided debt to my first company, a total of about a little over 1.4 million–three different loans. Then, one day, I got three letters from three banks at the same time calling their notes back. I had 30 days to find that money. I remember popping up, thinking about it long and hard. One of the things the military does is it teaches you how to make decisions under pressure. So, I figured out a way out of that–I won't bore you with the details, but I worked a deal with the bankers and my investors to get us through that. And we got through that. That's usually lights out for a company when that happens. But I figured out a third way.The story is powerful evidence of his superpower!John offers two bits of advice for developing a superpower like his.The first is resilience. “To become resilient, you have to expose yourself to danger and failure. And a lot of us don't want to do that. We have a culture where failure is bad,” he says. The reality is our challenges are our most valuable experience.Second, he says, is to remember that business is a team sport. “So, if you're new at it, I'd say quickly develop a team of advisors and mentors around you that have been down the trail before.”By following John's example and advice, you can strengthen your ability to leverage your experience and develop a can-do attitude. With practice, this could become a superpower that enables you to do more good in the world.Remember, however, that research into success suggests that building on your own superpowers is more important than creating new ones or overcoming weaknesses. You do you!Guest ProfileJohn Panaccione (he/him):CEO, Folla CapitalAbout Folla Capital: Folla Capital is an SEC-registered Broker-Dealer.  We help small businesses raise capital and provide general investment banking advisory services for startups, active businesses, and those involved in mergers and acquisitions. Website: www.follacapital.comCompany Facebook Page: fb.com/FollaCapitalBiographical Information: John Panaccione, co-founder of Folla Capital, holds an array of SEC licenses, including Series 7, 24, 79, and 63. Folla Capital is an SEC-registered broker-dealer and helps entrepreneurs and small business owners raise capital. Before his Folla Capital venture in 2020, he co-founded and led the LogicBay Corporation, a software company, from 2003 to its 2020 acquisition by Pluribus Technologies, gaining extensive experience in small business finance and mergers and acquisitions. In 2013, he co-founded VETtoCEO, a non-profit aiding transitioning military personnel in considering entrepreneurship. In 2022, he facilitated the merger of VETtoCEO with Warrior Rising. Before his entrepreneurial career, John held leadership roles in operations and sales across various corporate sizes. He served six years as a U.S. Army officer, primarily in the 82nd Airborne Division paratrooper units.John holds a B.S. in Criminal Justice and an M.B.A. from Bryant University, focusing on Technology and Operations Management.Twitter Handle: @johnpanaccioneLinkedin: linkedin.com/in/john-panaccione-88272/Superpowers for Good is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. Get full access to Superpowers for Good at www.superpowers4good.com/subscribe

Hosts Tim Mai and Javier Hinojo delve into the intricacies of various investment regulations. They unravel the complexities of Reg D, Reg CF, and Reg A, shedding light on how these regulations shape the landscape of real estate investments. Whether you're a seasoned investor or just starting, this episode is packed with invaluable insights, breaking down the legal frameworks that govern investment opportunities. Tune in to discover how these regulations impact your investment strategies and explore the thrilling world of real estate investment regulations.   Key Takeaways to Listen for Reg D Focus: Overview of Regulation D, highlighting its use in syndications and criteria for accredited investors. Insights into Reg CF: Discussion on Regulation Crowdfunding, including its public accessibility and fundraising limits. Exploring Reg A: Understanding Regulation A's role as a pre-public offering tool and its unique investment characteristics. Regulations Compared: Comparative analysis of Reg D, Reg CF, and Reg A, focusing on their differences and investor relevance. Practical Applications: Real-world examples demonstrating the impact and future trends of these regulations in real estate investing. About Tim Mai Tim Mai is a real estate investor, fund manager, mentor, and founder of HERO Mastermind for REI coaches. He has helped many real estate investors and coaches become millionaires. Tim continues to help busy professionals earn income and build wealth through passive investing. He is also a creative marketer and promoter with incredible knowledge and experience, which he freely shares.  He has lifted himself from the aftermath of war, achieving technical expertise in computers, followed by investment success in real estate, management skills, and a lofty position among real estate educators and internet marketers. Tim is an industry leader who has acquired and exited well over $50 million worth of real estate and is currently an investor in over 2700 units of multifamily apartments.     Connect with Tim Website: Capital Raising Party Facebook: Tim Mai | Capital Raising Nation  Instagram: @timmaicom Twitter: @timmai Linkedin: Tim Mai YouTube: Tim Mai     Connect with Us To learn more about partnering with us, visit our website at https://javierhinojo.com/ and www.allstatescapitalgroup.com, or send an email to admin@allstateseg.com.  Sign up to get our Free Apartment Due Diligence Checklist Template and Multifamily Calculator by visiting https://javierhinojo.com/free-tools/. To join Javier's Mastermind, go to https://javierhinojo.com/mastermind/ and to apply to his BDB Mastermind, see https://javierhinojo.com/mastermind/#apply_form and answer the form.     Follow Me on Social Media Facebook: Javier A Hinojo Jr. Facebook Group: Billion Dollar Multifamily and Commercial Real Estate YouTube Channel: Javier Hinojo Instagram: @javierhinojojr TikTok: @javierhinojojr Twitter: @JavierHinojoJr   The Naked Truth About Real Estate Investing on Spotify

In 2019, Ruben Greth partnered with a local syndicator on the acquisition of 190 Units, and has since become a fund manager who is building a 98 unit housing subdivision in Louisiana, a 154 unit housing subdivision in Alabama and partnering with multiple select syndicators bringing equity, advisory and investor management. He primarily uses Regulation D. Exemption 506(c) in his deals including ones discussed here. He has partnered in $5M of capital raising partnerships. He got his start by bringing joint venture capital to successfully raise $625K for small Multifamily deals during the post crash buying frenzy in Phoenix.   In this episode, we talked to Ruben about his podcast, the “Capital Raiser Show”, his insights on the Phoenix, Arizona market, his recent endeavors, successful partnerships in the market, and much more.   Announcement: Join the Apartment Investing Mastermind here for only $89/month.   Raising Money and Building Successful Partnerships;   02:38 Ruben's background; 07:35 The Capital Raiser Show; 17:49 An insight on the Phoenix, AZ market; 27:41 Where Ruben's focused on these days; 33:07 Round of insights   Announcement: Download Our Sample Deal and Join Our Mailing List   Round of Insights   Apparent Failure: His first partnership. Digital Resource: Kindle. Most Recommended Book: The Science of Getting Rich. Daily Habit: Creating and reading his intention statement. #1 Insight for raising capital: Making friends, and being more visible to potential partners. Best Place to Grab a Bite: La Pinata.   Contact Ruben: https://capitalraisershow.com/    Thank you for joining us for another great episode! If you're enjoying the show, please LEAVE A RATING OR REVIEW,  and be sure to hit that subscribe button so you do not miss an episode.

In this podcast episode, product executive Levi Brackman discusses his mission to democratize access to institutional-grade investment opportunities. He shares his background, including his PhD in psychology, three rabbinical ordinations, and real estate investments. Brackman explains that his company, Inven, aims to create platforms that allow regular individuals to access private securities. He also discusses the benefits of using his platform for raising money through Regulation Crowdfunding and Regulation D offerings. Brackman envisions his platform becoming a marketplace where investors can discover and invest in opportunities. He also shares his personal definition of success, emphasizing self-actualization and living a life aligned with one's purpose.Support the showhttps://www.buzzsprout.com/1187780/supporters/newFollow Rama on socials!LinkedIn | Meta | Twitter | Instagram|YoutubeConnect to Rama Krishnahttps://calendly.com/rama-krishna/ E-mail: info@ushacapital.comWebsite: www.ushacapital.comRegister for this year's Multifamily AP360 Asset Management - 2023 virtual conference Asset Management 2023 (mykajabi.com)Register for this year's Multifamily AP360 virtual conference - multifamilyap360.comTo find out more about partnering or investing in a multifamily deal: email: info@ushacapital.com

This episode dives into the complexities and advantages of different real estate investment funds with Matthew Burk, Founder & CEO of Fairway America and Verivest.The Crexi Podcast explores various aspects of the commercial real estate industry in conversation with some of the top CRE professionals in the space. In each episode, we feature different guests to tap into their wealth of CRE expertise and explore the latest trends and updates from the world of commercial real estate. In this episode, Crexi's Yannis Papadakis sits with Matt to discuss his background across dozens of real estate investment vehicles, such as syndications and Reg D pooled investment funds, the pros and cons of different options, and the current state of the CRE investment market.  Their wide-ranging conversation includes:Introductions, early career path, and key mentorsDeveloping the skills to transition to different acquisition types, fund types, and investment markets Key mentors and lessons learned from personal relationships and through podcasts, books, and educationThe basics of pooled investment funds, the necessities required to get started, and understanding the pros and cons.The importance of aligning investment theses and assembling the right team for a particular fund.Immediate red flags to watch out for in potential CRE investment fundsA 360-overview of the state of the commercial real estate marketThoughts on the CRE debt market and lender sentiment amid rising ratesAreas of hidden opportunity and interesting strategies observedRapid fire questions and sign-offsAnd much more!If you enjoyed this episode, please subscribe to our newsletter to receive the very next one delivered straight to your inbox. For show notes, past guests, and more CRE content, please check out Crexi Insights.Ready to find your next CRE property? Visit Crexi and immediately browse hundreds of thousands of available commercial properties.Follow Crexi:https://www.crexi.com/​ https://www.crexi.com/instagram​ https://www.crexi.com/facebook​ https://www.crexi.com/twitter​ https://www.crexi.com/linkedin​ https://www.youtube.com/crexiAbout Matthew Burk:Matt Burk is a seasoned real estate executive, Chief Investment Officer, and fund manager who started and managed eleven (11) real estate asset-based Reg D pooled investment funds over 30+ years. He's also worked as a discretionary underwriter/approval authority of thousands of real estate asset-based investments with a total asset value in the billions, including pooled investment funds, real estate secured loans, syndications, participations, GP and LP equity interests, and more. As a real estate asset-based 506 Regulation D pooled investment fund expert, Matt has played lead roles in advising on the architecture and creation of hundreds of discretionary pooled funds for hundreds of sponsors, private lenders, and managers across multiple real estate strategies and asset types including debt, equity, GP co-invest, multifamily, office, industrial, retail, self-storage, hospitality, residential, construction, value-add, mortgage pools, distressed debt acquisition, tax lien certificates, single-family rental fix-n-flip, B2R, and more. Matt is also the author of "Capital Attraction: The Small Balance Real Estate Entrepreneur's Essential Guide to Raising Capital" and the host of "Fundamentals with Matt Burk" 

Host Gary J. Ross and Alexander Platt, associate professor of law at University of Kansas, discuss proposed changes to mandatory disclosure requirements for large private companies, a/k/a “unicorns.” These include changes to Section 12(g) of the 1934 Exchange Act, first proposed by ex-SEC commissioner Allison Herren Lee in 2021, as well as changes to Regulation D offerings suggested earlier this year by SEC commissioner Caroline Crenshaw. Prof. Platt talks about whether either of these changes can be made without explicit Congressional authorization, and delves into the potential real-world impact of these changes.

Joining a real estate syndication will allow you to leverage other people's money and invest together in a property. In this Flashback Friday episode, syndication attorney Gene Trowbridge, ESQ, CCIM sits down with us today to give expert insights on syndications and how to become a passive investor. He lists guide questions to ask an operator who's presenting an opportunity for you. As a founding partner of Trowbridge Law Group LLP, Gene's law practice concentrates on the syndication of commercial and investment real estate, through both debt and equity. He has represented over 650 clients in this area of practice. The median offering size is $3,000,000 but he has done individual offerings of over $6 Billion. His practice writes offerings under Rule 506b and 506(c) of Regulation D. As a former syndicator who for ten years raised investor capital through the broker-dealer community, he is able to communicate with his clients on both the technical and the practical aspects of state and federal securities laws. As a long-time CCIM and CCIM Senior Instructor, he has won numerous awards for his teaching ability. His book “It's a Whole New Business!” is really a “how to manual” on real estate syndication.________________________________Interested in investing in small multifamily? Learn more about The Microfamily Mavericks mentorship program here:https://noirvestholdings.kartra.com/page/microfamilymavericks Check out our podcast website!Thesharethewealthshow.com Want to leave feedback or suggestions on our show?Take our survey: https://s.surveyplanet.com/c1xu5qdv ________________________________[00:01 - 11:11] Who is Gene Trowbridge? Gene talks about making great decisions on the kitchen table with his wife and the meaning of wealthHe discusses his background and how he ended up studying law at 45 and helping other people be good syndicatorsHis philosophy is to do a deal by himself first because he wants to make sure everything works before he starts to manage other people's moneyLast year, he sent 1,600+ K-1's to his investors[11:12 - 21:26] What You Need to Know About SyndicationA syndication can be a great way for people to pool their resources and invest in a deal togetherAs a syndicator, it's important that you figure out where the opportunities are and assemble a team that can capture those opportunitiesBuilding your database of contacts is keyWhat he asks his clients who are interested in real estate syndication:How did you get started? What do you think is going to happen in the next three years with your business?What advice do you have for rookies?[21:27 - 26:53] Questions to Ask and Vet SponsorsWhat will happen to the capital if something happens to you?There should be continuityNever invest with an individual sponsorHave you done this before?Even if this is the sponsor's first time, they should have something to bring to the tableAre you going to invest any money in this yourself?If I need liquidity, how will you handle that?[26:54 - 31:19] Becoming a Passive Investor Seek out education and be knowledgeable in real estateNot everyone is equipped to be a syndicator and not every property should be syndicated.The syndication business is a people business[31:20 - 39:52] Closing Segment The final questions Spread the risk and get diversifiedGene shares his strategy in choosing between Baltic...

DLC day is here! It's time to collect your favorite mask, slap it on an ogre, and go to town in Regulation D. Kevin & Mike discuss their experience in the DLC, and talk about competitive implications of it. --- Send in a voice message: https://podcasters.spotify.com/pod/show/pokesports/message

In this ever-changing real estate landscape, you need to keep your sights on the latest and sharpen your tools. Our very own Chris Seveney keeps us abreast of what's happening, bringing hard-earned wisdom from amazing guests. This time, he takes the hot seat opposite Devin Elder, the host of the DJE Podcast to give us an overview of the 7e Fund Structure along with some market updates. They discuss mortgage note investing, the 7e Regulation A and Regulation D funds, and how Chris builds a team at 7e Investments while running deals nationally. Chris also shares how 7e Investments still floats with the current waves of today's economy. Check out how Chris navigates the market today and more in this bonus episode!Love the show? Subscribe, rate, review, and share! https://7einvestments.com/podcast/

7E Investments was started by Chris Seveney in 2015 while Chris was working his W2 job as Director of Construction & Development for a multi-billion dollar family owned company. During this time, Chris was managing multiple real estate funds and had over $20M in AUM.In 2022, after 25 years working in real estate development and construction and having managed over $1B in new construction during his career and having grown his note business to having acquired over 500 notes, Chris left his cozy top floor corner office and made the transition leaving his W2 job and along with his business partner Lauren Wells, they have launched two funds under Regulation A+ and Regulation D raising $150M focused on the niche market of distressed mortgage notes.. Chris Seveney is a real estate investor who has a great story to share and words of wisdom to impart for both beginning and veteran investors alike, so grab your pen and paper, buckle up and enjoy the ride. Want to get in contact with Chris Seveney? Reach out at https://linktr.ee/creatingwealthsimplifiedWant to become financially free through commercial real estate? Check out our eBook to learn how to jump start a cash flowing real estate portfolio here https://www.therealestateinvestingclub.com/real-estate-wealth-book  Enjoy the show? Subscribe to the channel for all our upcoming real estate investor interviews and episodes.  ************************************************************************  GET INVOLVED, CONNECTED & GROW YOUR REAL ESTATE BUSINESS  LEARN -- Want to learn the ins and outs of real estate investing? Check out our book at https://www.therealestateinvestingclub.com/real-estate-wealth-book  PARTNER -- Want to partner on a deal or connect in person? Email the host Gabe Petersen at gabe@therealestateinvestingclub.com or reach out on LinkedIn at https://www.linkedin.com/in/gabe-petersen/  WATCH -- Want to watch our YouTube channel? Click here: https://bit.ly/theREIshow  ************************************************************************  ABOUT THE REAL ESTATE INVESTING CLUB SHOW  Hear from successful real estate investors across every asset class on how they got started investing in real estate and then grew from their first deal to a portfolio of cash-flowing properties. We interview real estate pros from every asset class and learn what strategies they used to create generational wealth for themselves and their families. The REI Club is an interview-based real estate show that will teach you the fastest ways to start and grow your real estate investing career in today's market - from multifamily, to self-storage, to mobile home parks, to mix-use industrial, you'll hear it all! Join us as we delve into our guests career peaks and valleys and the best advice, greatest stories, and favorite tips they learned along the way. Want to create wealth for yourself using the vehicle of real estate? Getting mentorship is the fastest way to success. Get an REI mentor and check out our REI course at https://www.therealestateinvestingclub.com. #realestateinvesting #passiveincome #realestateInterested in becoming a passive investor in one of our projects? Kaizen Properties, is looking for passive investors for our upcoming deals. We invest in what are known as “recession resistant assets”: self storage, MH & RV parks, and industrial properties. If you are interested, go to the website and click on the “Invest with Us” button at the bottom of the page.Support the show

We had a disagreement and it resulted in the two of them getting WAY too into Regulation D. Now we're ready to talk about the best new Pokemon in the upcoming format! But don't worry - we've got plenty of current format stuff to talk about as well. All of the Pokemon used in recent regionals have been updated, and you'd better believe we're getting into it! Check us out at Pokesports.info! --- Send in a voice message: https://podcasters.spotify.com/pod/show/pokesports/message

In this electrifying episode of Wicked Energy with JG, host Justin engages with distinguished guests Sonia Coopwood, a strategic advisor and co-founder of Greentech, and Chris Shuring, the COO and founder of OkaVate. Explore Greentech's pioneering research in renewable energy with Sonia, as she discusses the firm's innovative lithium iron battery technology — a formidable competitor that outperforms Tesla's batteries by threefold. Journey with her as she shares about the green tech energy park in the works in Hawaii, a joint effort with the co-founder of Earth Day. The conversation takes a personal turn as Sonia delves into her interests in biohacking and her work on cellular activation for enhanced health. Enter the world of water technology with Chris, who brings a wealth of experience from the fields of technology development and energy innovation. Listen to his intriguing career transition from Atari to managing international data centers. He unveils a promising collaborative project in West Africa related to water technology, under the banner of OkaVate. Justin, Sonia, and Chris embark on a deep dive into pressing global issues, including the dire lack of access to electricity, refrigeration, and clean water. They explore sustainable solutions such as solar panel systems, while also addressing the hurdles and bottlenecks that impede the large-scale implementation of these technologies in emerging economies. From political dynamics to the profit-focused lens of venture capitalism, and the market dominance maintained by large companies, no stone is left unturned. The trio further discuss policy and regulatory challenges in the US that prevent alternative energy development, such as wheeling laws. They elucidate their objective of testing and developing emerging technologies in West Africa before launching them globally, citing a project that generates water from atmospheric humidity as a potential solution for disaster recovery. The conversation veers towards OkaVate's ambitious plans to build grid-independent homes in Ghana using 3D printing and a blend of green energy technologies. Learn about their ventures into the water industry and atmospheric water generation systems that extract drinkable water from polluted air. Chris gives us a glimpse into OkaVate's business strategy, revealing a fundraising plan to raise $10 million via a Regulation D offering. The company aspires to go public within four years at a $3.5 billion valuation, backed by prospective government contracts worth over a billion dollars each. If you are interested in learning more or connecting, see the links below: LinkedIn: https://www.linkedin.com/in/chris-schuring-3013757/ https://www.linkedin.com/in/soniacoopwood/ Website: www.okavate.com Wicked Energy For more info on Wicked Energy, please visit www.wickedenergy.io. For the video version, please visit the Wicked Energy YouTube channel at https://www.youtube.com/channel/UCL5PSzLBnSb7u1HD1xmLOJg If you or your company are interested in starting a podcast, visit https://www.wickedenergy.io/free-guide for a free guide on creating a successful podcast. Lastly, if you have any topics or guests you'd like to hear on the show, please email me at justin@wickedenergy.io or send me a message on LinkedIn.

The South Korean tournament circuit has been run so poorly this year that the top 4 Korean VGC players decided to protest The Pokémon Company and all 4 got disqualified from the event. Pokémon HOME 3.0.0 is here and not much has changed. Regulation D starts on July 1st and this will be the official format for Worlds. Pokémon GO gets a very good start to the Hidden Gems season and we cover the ZoëTwoDots interview with Niantic. 00:00:00 - Introduction 00:02:30 - Pokémon HOME Update00:17:00 - Regulation D00:32:00 - South Korea Tournaments01:05:00 - Break01:09:00 - Hidden Gems Season01:31:20 - ZoëTwoDots Interview02:30:00 - Post Credits  

The goal of this episode is to help capital raisers understand these topics and how to use them to their advantage while avoiding any legal consequences. The information being shared is based on a chapter from my new book that will be available on 5/11/23. Episode at a glance: What is a securities broker-dealer?What are finder's fees?How to develop pre-existing substantive relationships before you make offers to investors under Rule 506(b)What is Regulation D Rule 506(c) and what does it mean?Who is entitled to the exemption from broker-dealer registration?Should you use the Regulation D, Rule 506(b) or Rule 506(c) exemption for your deal?

Nic McGrue is an experienced attorney who advises clients on negotiating deals. He has seen many people make the mistake of using online templates to create a letter of intent, which may not suit their unique deal or leave out important terms. Nic advises clients to use the Letter of Intent (LOI) to set the big picture terms and then let the lawyers handle the details.

Devin: What do you see as your superpower?Craig: I played college basketball, and then I really didn't know what I was going to do when I grew up. So I became a college basketball coach, and I was a very young head college basketball coach. I think my superpower is the ability to lead and motivate teams. I think that the ability to coach translated into business. As I look at my superpower, I think it is the ability to lead in an authentic way that that people can believe in and get behind.Craig Jonas is the founder and CEO of an innovative impact investment vehicle open to ordinary investors. He set up CoPeace as a holding company rather than a venture fund, enabling him to sell shares via Regulation Crowdfunding. The company's current round is now available on Wefunder.Regulation Crowdfunding specifically bars venture funds or blind pools from using this exemption from full registration, but the holding company structure is allowed.An independent selection committee approved CoPeace to pitch at the SuperCrowd23 NC3 Impact Crowdfunding Live pitch session. The live pitch sessions will be a highlight of the virtual conference. The final deadline for applications to pitch remains open until April 30.Superpowers for Good readers are eligible for half-price tickets. Early bird pricing also ends April 30. Register now!AI Summary* Craig Jonas is the founder and CEO of CoPeace, a company that invests in impactful businesses.* CoPeace offers equity investing and services such as finance and marketing to help companies grow.* The company is currently running a Wefunder campaign to raise capital.* CoPeace has eight holdings, including Uncharted Power.* Jonas believes his superpower is leading and motivating teams, influenced by his experience as a college basketball coach.* He has helped start companies, including the team that invented the virtual yellow line in American football.* Jonas emphasizes the importance of empathy and being an authentic leader as a changemaker.* CoPeace.com is the company's website for more information and social media links.Craig explains the CoPeace business model as a “miniature Berkshire Hathaway.”“As a holding company, we have a little bit of an asset allocation dictated by the SEC,” he says. “So, like Berkshire Hathaway, 40 percent of our assets can be deployed in companies that are not majority holders, and 60 percent or more have to be in companies that we have 50 percent or more voting shares.”The structure is essential for allowing the company to achieve one of its core objectives: allowing ordinary investors to participate in a professionally managed impact investing business.Craig points out an irony that is prevalent in the impact investing world. “Impact investing, which is intended to invest in things that are more inclusive, has not been inclusive on the opportunity to be participating.”For the offering currently underway, Craig explains that they are conducting parallel offerings as allowed under SEC rules, raising both on WeFunder for ordinary investors and via a Regulation D 506 c offering that can be announced publicly but only allows wealthy or “accredited” investors to participate.Craig explained the company's decision to use a $100 minimum investment for this crowdfunding round:We have like 425 people now on our cap table, and we're in a platform that charges us every year to have these people in our cap table. So there's a balance there between making sure it's accessible and weighing the costs. But for us, we just wanted more people involved. So, we thought that the benefit of that outweighed the fact that there were going to be some costs down the road. Then, that community can be our champions, and they can cheer us on and help spread the word.Over his career, Craig has developed team leadership as a superpower.How to Develop Team Leadership As a SuperpowerCraig has been leveraging the leadership skills he developed as an athlete and a basketball coach throughout his business career. He shared an example of how that has led to some significant success:Several things that we've done have been deemed impossible. I mean, when we created the glowing blue puck in hockey, for example, nobody thought that technology would be possible. It was a very difficult challenge. Our engineering team and the rest of our group were able to generate this technology for broadcast television, and then that became the virtual yellow line.If you're like me, you find it difficult to imagine watching a football game without the virtual lines indicating the line of scrimmage and the line to gain for a first down. That was a massive win in my book.Craig suggests that the key to leadership for changemakers is empathy, noting, however, that it is harder to do than to say.One key, he suggests, is to intentionally make time to “understand yourself, your team, your ecosystem and how they are interrelated and affect one another.”By following Craig's example and counsel, you can increase your empathy, improving your leadership skills, potentially enabling them to become a superpower that empowers you to do more good in the world.Superpowers for Good is a reader-supported publication. To receive new posts and support my work, consider becoming a paid subscriber.Guest-Provided ProfileCraig Jonas (he/him):Founder and CEO, CoPeace PBCAbout CoPeace PBC: CoPeace helps impactful companies grow. As an impact-driven holding company, CoPeace is building a portfolio of carefully selected businesses with measurable social and environmental impact. Additionally, CoPeace provides a variety of consulting services to organizations demonstrating positive social or environmental impact.As a fully certified B Corp and public-benefit corporation (PBC), CoPeace is committed to acting morally, ethically, and responsibly in regard to society and the environment. Equity, inclusion, and justice are not just valued at CoPeace – they are pillars supporting our mission.Website: copeace.comTwitter Handle: twitter.com/copeaceCompany Facebook Page: fb.com/CoPeacePBCBiographical Information: Craig is a lifelong entrepreneur with a history of success across the fields of business, academics, and athletics. He has over 30 years of experience in management with a passion for team-building and drawing individuals with big ideas together. Craig founded CoPeace in 2018, put together a highly-talented team and board, and quickly helped CoPeace achieve Certified B Corp. and Public Benefit Corporation (PBC) status. He launched CoPeace's holding company with strong initial investments in sustainable infrastructure and impact-related services. In order to democratize access to the equity game, Craig spurred the creation of a successful crowdfunding investment vehicle. He has been featured in Forbes, Worth, Triple Pundit and numerous other publications and outlets and is a frequent guest on investing-related podcasts.Prior to CoPeace, Craig served as COO of Basketball Travelers and BTI Events, an elite sports event management and media conglomerate. In this role, he supervised international sporting events and tours worldwide. He served as the head or deputy head of the American delegation for the Summer and Winter World University Games from 2007-17. Previously, Craig served as vice president for business development for the broadcast media technology firm, Sportvision, best known for bringing revolutionary visual enhancements to live sports broadcasts, including American football's yellow first-down line and baseball's strike zone. Prior to Sportvision, Craig served as the executive vice president of Coach's Edge and helped initiate its $100-million merger with Sportvision. Craig earned his doctorate in conflict management from the University of Kansas, where he also taught leadership, marketing, and management courses. Craig earned a bachelor's degree from Carleton College in Minnesota and completed a master's degree at Colorado State University. He is the father of two sons and lives with his wife, Seanna, and dog, Fergus, in Colorado.Twitter Handle: twitter.com/DocJay45Personal Facebook Profile: fb.com/craig.jonas.77Linkedin: linkedin.com/in/craigjonas/Instagram Handle: instagram.com/copeacepbc/Other URL: wefunder.com/copeace Get full access to Superpowers for Good at devinthorpe.substack.com/subscribe

Anytime you are raising money from passive investors, whether it be for private equity, venture capital, or creating a fund, you need someone to help make sure you are doing it correctly. And that is where a securities attorney comes into play. Today we have John Nieh as our guest. John is a founding partner at Trowbridge Law Group and advises clients on matters that relate to crowdfunding, syndications, commercial real estate transactions, and security laws. Today, our conversation is largely based on security laws, including Regulation D rules (506(c) and 506(b)), Regulation A, and how they all differ. He shares some valuable insights regarding fast-paced syndicators and how it may potentially have a negative effect later on. We also talk about Regulation Crowdfunding and how it works. To hear more from John about the benefits and drawbacks of different security laws, syndications, and working in teams, don't miss out on this episode! Tune in now. Key Points From This Episode:An introduction to our guest, John Nieh.How he got into this niche of law.Other examples of businesses that syndicate to raise money.We dive into Regulation D rules: 506(c), 506(b), and Regulation A.What is rule 506(c), and the key pieces to that offering.The option to outbound your marketing or advertise your offer (with rule 506(c)). Investments or people that particularly lend themselves to 506(c).Difference between rules 506(c) and 506(b) and who is investing in them.The 506(b) rule and the key milestones that establish a pre-existing, and substantive, relationship. John's thoughts on syndicators initially moving too quickly and how it negatively affects them later on.We talk about Regulation A and how it differs from 506(c).Some drawbacks of Regulation A.John takes us through what crowdfunding is and the different types available. He talks about working with teams, some common themes, both positive and negative. The importance of having a continuity plan in place.How John manages to be focused and present for all the people in his life.Why Yosemite is an important place for John.How to get in touch with John. Links Mentioned in Today's Episode:John Nieh on LinkedInJohn Nieh EmailJohn Nieh on TwitterJohn Nieh on InstagramTrowbridge Law GroupPatch of LandVertical Street Ventures VSV Academy Passive Income Through Multifamily Real Estate Facebook GroupPeter Pomeroy on LinkedInPeter Pomeroy Email

I'm not a financial advisor; nothing I write in Superpowers for Good should be considered investment advice. You should seek appropriate counsel before making investment decisions. I purchased shares in Raise Green.Devin: What do you see as your superpower?Jackie: My work ethic is really my superpower.Jackie Logan is the co-founder and CIO of Raise Green and one of my favorite humans. Her kindness exceeds her brilliance. I'm excited to have her as an advisor for The Super Crowd, Inc., a public benefit corporation.Raise Green is a FINRA-registered crowdfunding portal focused exclusively on climate solutions. Now, Raise Green is raising capital itself via Wefunder.AI Summary* Raise Green is a FINRA-registered crowdfunding platform for the climate tech industry.* Its mission is to democratize ownership of the clean energy transition.* They are currently crowdfunding on Wefunder.* Key elements for successful crowdfunding include a story, financial expectations, and marketing plans.* Investors should be thoughtful about their financial goals and use common sense when investing.* Jackie Logan's interest in environmental activism stems from family values and an appreciation for nature.* Raise Green allows individuals to invest in climate solutions and support the transition from dirty to clean energy.* The company aims to create a more inclusive and equitable way of funding climate solutions.* Interested individuals should explore Raise Green and become involved in the movement toward climate action.* CIO Jackie Logan emphasizes the importance of hard work, collaboration, and a thirst for learning in driving positive change.Jackie's Raise Green StoryRaising JackieJackie's journey to becoming a leading climate financier requires us to understand a bit about this Wharton MBA who spent at least two decades on Wall Street, working in turns both Morgan Stanley and Goldman Sachs.Jackie's parents brought her to the US as a child. “My father escaped the Holocaust.”“We lived by a few principles: number one, we were very grateful that we were in the United States,” she says Others included hard work, “charity begins at home, be good to your neighbor and educate yourself.”“While I grew up here in New York City, my summers were on a dairy farm, living off the earth, gardens, etcetera. So, the appreciation of nature and the importance of it,” she says.In addition, she says, “My uncle was a big environmentalist activist already in the early 60s, picketing in front of the Capitol.”Prioritizing Climate“In 2016 or 17, I had the opportunity to see the development of certain ESG strategies and realized that with this looming climate crisis we had, we needed to get private capital moving very quickly directly into climate projects, innovative things that were happening,” Jackie says.“I just felt that what was available the big public market ESG stuff that was going on—didn't hack it for me,” she says. “My kids are grown. I just decided it was the right time for me to take my 20, 25 years of experience in the capital markets and put it into something that would be directly moving capital directly into climate. And that's exactly what Raise Green is.”Raise Green isn't happening in a vacuum. It is just one part of the solution, as Jackie sees it. “We need to attack this from so many angles.”“With the Inflation Reduction Act and the other two acts that we have recently coming out of the government, the tailwinds are there,” she says.“Policy is one thing, and actually putting it into action is another,” Jackie says. “We are giving small to medium-sized folks the ability to take financing into their own control, speak to their community and the public and raise capital.”Raise Green Helps“What is unique about Raise Green is that we are 100 percent dedicated to climate solutions and clean energy,” Jackie says.“We work with companies in the climate tech space all the way to folks that are doing climate clean energy projects across the United States who are looking to raise capital—equity or debt—and get them up on our platform and open them up to just about anyone to invest for as little as $100,” she continues.“Our attitude is, ‘Hey, jump on RaiseGreen.com, click invest, and for as little as $100, you can identify a project or a company that is doing something that speaks to you,” Jackie says. “This is a financial investment, which means that you have the potential for a financial return plus impact at the same time.”Help Raise Green“We are a startup ourselves; we've been around since we started in 2018, got our license in 2019 and launched our first offering in July of 2020,” Jackie says, recapping the startup's five-year journey in a single sentence.The Raise Green team is currently raising money, much of it via a successful Regulation D campaign only open to wealthy accredited investors. To conduct that offering in harmony with the values they espouse, they decided to add a crowdfunding component.“We are doing it on Wefunder, which is a B Corp.,” Jackie says, after reminding me that portals aren't allowed to raise money for themselves on their own platform. She says the team is hoping to raise $100,000 via the Reg CF offering and would welcome up to $500,000 there.At this writing, the Wefunder campaign stands at almost $77,000. (Wefunder displays the total capital raised under both offerings but makes the crowdfunding portion visible if you click the little “i” for information.)Importantly, both offerings are made on the same terms, Jackie says. So, an ordinary investor who puts in $100, gets the same deal that someone investing $100,000 in the Reg D offering.In all of Jackie's work, she leverages her work ethic as a superpower.Superpowers for Good is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.How to Develop Your Work Ethic As a SuperpowerJackie attributes her work ethic largely to the way she was raised by her parents. It has proven powerful.She shared an example of how she uses her superpower today:I'll just use an example of one of the issuers that was on our platform. They weren't the most obvious issuer to come through Raise Green. Three women co-founded a company called Ola Filter. I really mean bright and capable women designing a water filter for developing countries—which you'd say, “Well, you know, why Raise Green?”And I'll just say that I just saw the opportunity of us—Raise Green and myself—working with them to help them coordinate and pull their paperwork together, etc., etc., really could make the difference between this happening and not. Yeah, that is one of the experiences that I feel that my rolling up my sleeves, putting the time and effort into something—which is part of my superpower—made something very significant happen. And they're off and running.Jackie thinks of hard work as comprising respect for others paired with a belief in the possible. Developing a work ethic into a superpower is a mindset.By following Jackie's example and her advice, you can make your work ethic into a superpower that enables you to do more good in the world.SuperCrowd23Jackie will be speaking at SuperCrowd23, held May 10-11. She'll be part of a fascinating conversation about experiences with and best practices for crowdfunding investment clubs. Her colleague, Raise Green CEO Franz Hochstrasser, will be part of a panel discussion of ten portal CEOs. Don't miss a minute!Readers get half-price tickets here. Get full access to Superpowers for Good at devinthorpe.substack.com/subscribe

As a founding partner of Trowbridge Law Group LLP, Gene's law practice concentrates on the syndication of commercial and investment real estate, through both debt and equity. Gene has represented over 650 clients in this area of practice. In today's episode, Gene is going to go over the basics of syndication, and his advice on how (and if) you should get involved with it. “What you need to do is you need to build a database. And the database has to be number one, made of people who are interested in real estate. Number two, determine what part of the real estate industry are you involved with? The third thing you have to do is you have to show the investors that you put together a team  that can capture the opportunities that you think are out there, and sell them on the team.”   1:28 What's going to happen when you're 50? 5:44 "It's a Good Thing to Go to Law School". 10:28 What's going on in the market today? 16:37 What does it mean to be “experienced”? 19:28 What are some of the things that you should be concerned about? 22:28 What's the difference between a real estate agent and a promoter? 29:33 How do you run a business when you don't have any investors? 33:23 What's the biggest risk in real estate?   Guest Bio: As a founding partner of Trowbridge Law Group LLP, Gene's law practice concentrates on the syndication of commercial and investment real estate, through both debt and equity. Gene has represented over 650 clients in this area of practice. The median offering size is $3,000,000, but he has done individual offerings of over $6 Billion. His practice writes offerings under Rules 506b and506(c) of Regulation D.   As a former syndicator, who for ten years raised investor capital through the broker-dealer community, he can communicate with his clients on both the technical and the practical aspects of state and federal securities laws.   As a long-time CCIM and CCIM Senior Instructor, Gene has won numerous awards for his teaching ability. His book “It's a Whole New Business!” is really a “how-to manual” on real estate syndication

Over the last year, I've heard a lot of buzz about using alternative investments to boost portfolios. However, most people don't know you need to be an accredited investor to take advantage of these opportunities. On this episode, I'm breaking down alternative investments, how to become an accredited investor, and my personal thoughts on investing outside normal investment accounts. You will want to hear this episode if you are interested in... What is an alternative investment? [0:54] How to qualify as an accredited investor [5:48] My thoughts on alternative investments [7:33] Understanding alternative investments The world of investing is vast. There are tons of things you can put your money into and hope for a quality return. Typically, people invest in what is known as registered investments. These include stocks, bonds, mutual funds, ETFs, and stock options. There are requirements that companies have to go through to register an investment so that investors can perform their own due diligence. Registered investments tend to lack the element of surprise because they have been around for a while, and there is a good deal of information on them. However, certain non-registered investments are considered alternative investments and may offer greater diversification and returns than traditional investment options. Alternative investments are broken into five main categories: hedge funds, private capital, natural resources, real estate, and infrastructure. Because these investments are much riskier than traditional investments, the government requires you to be an accredited investor before pouring your money into them. The qualifications of an accredited investor Why limit who can make alternative investments? Authorities want to make sure that the people buying them are financially stable and experienced. They want to make sure you are informed about the risk involved in these ventures. And if there were to be a loss, they want to ensure it won't be catastrophic. The truth is a complete loss of your money in a private placement is very possible. If you're buying high-quality stocks, mutual funds, or ETFs, you're never going to wake up one day and find out that it has gone to zero. But if you invest in a private placement, there's a strong likelihood that could happen, and your investment could be completely worthless. However, if high risk and high reward entices your investment dollars, you need to follow these requirements to become an accredited investor. According to Rule 501 of Regulation D issued by the SEC, a person must have an annual income exceeding $200,000 or $300,000 jointly for the last two years to become an accredited investor. They also need the expectation of earning the same or higher income in the current year. Additionally, you can be considered an accredited investor if you have a net worth exceeding $1 million, excluding your primary residence. Listen to this episode for more on becoming an accredited investor! Connect With Morrissey Wealth Management  www.MorrisseyWealthManagement.com/contact

A debate over the definition of an accredited investor is underway ahead of an SEC meeting that could make it tougher to quality. The SEC Chairman is reportedly in favor of making the definition more restrictive, and that's raising concerns among lawmakers, financial scholars and business startups who feel that opportunities for investing should be expanded, not diminished. (1)   Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review.   What is an Accredited Investor?   If you've been wanting to invest in a private placement, such as an apartment or storage syndication, but haven't yet met the requirements of an accredited investor, you may be feeling the frustration. The SEC requires an individual to earn at least $200,000 a year as an individual, $300,000 a year as a couple, or a networth of $1,000,000 or more which excludes the value of a primary residence.   Accredited vs. Sophisticated   The SEC does allow a small number of non-accredited investors in certain private placements - 35 to be exact. And though they may not be accredited, they do have to be "sophisticated."  Investopedia defines a sophisticated investor as someone “with sufficient knowledge and experience in financial and business matters to make them capable of evaluating the merits and risks of the prospective investment.” (2)(3) That knowledge or experience would need to be obvious to the private placement sponsor or syndicator. That could include an employee with knowledge about investing opportunities, risks, and the deal itself.   The sophisticated investor designation is allowed in a 506(b) offering under Regulation D - but again only 35 "sophisticated" investors are allowed, and they must have a pre-existing relationship with the sponsor. The Jumpstart Our Business Startups Act, or JOBS Act, of 2012 allowed investors with no prior existing relationship to participate in a private placements for the first time through a new category called 506(c). This allows syndicators and fund managers to market their offerings to the public, but does not allow non-accredited sophisticated investors. Only accredited investors are allowed in a private placement that advertises publicly.   Support for Less Restrictive Definition   At a House hearing on what the SEC is currently planning to do, Committee Chairwoman Rep. Ann Wagner said: “It is no secret that SEC Chairman Gary Gensler's agenda includes sweeping new regulations in our private markets that would create barriers for investors and entrepreneurs to participate in those markets.”   An article in The DI Wire says notes on the SEC's agenda show that Gensler plans to change “the accredited investor definition by increasing the annual income and net worth thresholds.” The SEC began soliciting public comments on potential changes last year to “update the rules” and “more effectively promote investor protection.” (4)   Representative Brad Sherman that the current definition doesn't make sense and needs reform. He says: “That doesn't mean it should be more restrictive or less restrictive than what we have now, but it should be different.”   Is the Current Accredited Investor Definition Unfair?   Director of Financial Regulation Studies at the Cato Institute, Jennifer Schulp, was more critical. She testified that the accredited investor definition is “unfair” and objected to the idea that the SEC decides “who gets to invest where: public markets for most, but public and private markets for those it judges to be worthy.”   She says: “Such paternalism – limiting how people can invest their money – is objectionable in itself. The SEC should not be charged with protecting individuals from their choices to take certain kinds of financial risk.” She highlighted the fact that in 2010, the SEC “shrank” the pool of accredited investors by adding a clause to the Dodd-Frank Act that excludes the value of a person's primary home.   Proposed Certification Exam   Chairman of the House Financial Services Committee, Rep. Patrick McHenry, had introduced the Equal Opportunity for All Investors Act. It calls for the SEC to offer an accredited investor certification exam for people with investment knowledge and experience. He said during the hearing that he looks forward to moving ahead with legislative proposals that would improve the accredited investor definition. (5)   Meantime, the SEC rulemaking session is scheduled for April.   You can read more about the evolution of this issue by following links in the show notes at newsforinvestors.com. If you'd like to learn more about the private placement deals that we offer at RealWealth, please go to GrowDevelopments.com. We are currently offering a North Dallas Rental Fund for people who want to leave the landlording and property management to someone else, but would like the financial benefits of owning rental property. However, this deal is only available to accredited investors who fit the current definition. Please hit the join button at the RealWealth home page for access to all our news and data on the U.S. real estate market. And don't forget to subscribe to the podcast and follow me on instagram @kathyfettke for real estate market updates and commentary.   Thanks for listening!    Links:   1 - https://thediwire.com/house-hearing-debates-changes-to-the-secs-definition-of-accredited-investor/   2 - https://www.investopedia.com/terms/s/sophisticatedinvestor.asp   3 - https://thediwire.com/sec-expands-definition-of-accredited-investor/   4 - https://thediwire.com/sec-signals-changes-to-accredited-investor-definition/   5 - https://www.thinkadvisor.com/2023/02/08/lawmakers-grapple-with-accredited-investor-definition/

ABOUT GENE TROWBRIDGEAs a Founding Partner of Trowbridge Law Group LLP, Gene's law practice concentrates on the syndication of commercial and investment real estate, through both debt and equity. Gene has represented over 625 clients in this area of practice. The median offering size is $3,000,000 but he has done individual offerings of over $6 Billion. His practice writes offerings under Rule 506b and 506(c) of Regulation D.As a former Syndicator, who for ten years raised investor capital through the broker-dealer community, he is able to communicate with his clients on both the technical and the practical aspects of state and federal securities laws. As a long-time CCIM and CCIM Senior Instructor, Gene has won numerous awards for his teaching ability. His book “It's a Whole New Business!” is really a “how-to manual” on real estate syndication.   THIS TOPIC IN A NUTSHELL: Gene's career background Getting into law school Learning about Syndication laws and how they evolvedDeals they've doneWhat to do if the Sponsor/Manager dies?Syndication definedDifference between 506B vs 506C regulation Joint venture vs SyndicationRequirements to change Joint venture into securityGeneral requirements that syndicators should deliver to passive investorsLenders' role in the SyndicationAre we required to give the investors an executed operating agreement?What is required for Syndicators? Documents that we need to send to investorsWhat is a springing member? PPM that will not qualify for the 1031 exchangeTenant in commonRaising capital and audit of General PartnersFund-to-fund model for raising capitalWhat is a Blind pool Investment?Limited partnership and General partnershipBest practices for Fundraising Advice to his 25-year-old selfHis First Entrepreneurial endeavorFormal and Informal training that shaped his journeyHis biggest mistake and what he learned from it Connect with Gene     KEY QUOTE:“The Manager is not supposed to commit fraud. Intentional fraud is a misrepresentation. Telling investors that everything is ok when it's not, that's really the requirement for Syndicators. “ SUMMARY OF BUSINESS:Trowbridge Law Group - We are a team of experienced attorneys and dedicated support staff focused on ensuring our clients' compliance with SEC and States securities laws.We are committed to enabling our clients to raise funds for their investment opportunities and syndications with confidence. We take pride that our documents are custom crafted for our client's needs, ensuring the highest level of quality and compliance. Collectively, we are one of the most experienced syndications law team in the country.  ABOUT THE WESTSIDE INVESTORS NETWORK   The Westside Investors Network is your community for investing knowledge for growth. For real estate professionals by real estate professionals. This show is focused on the next step in your career... investing, for those starting with nothing to multifamily syndication.     The Westside Investors Network strives to bring knowledge and education to real estate professional that is seeking to gain more freedom in their life. The host AJ and Chris Shepard, are committed to sharing the wealth of knowledge that they have gained throughout the years to allow others the opportunity to learn and grow in their investing. They own Uptown Properties, a successful Property Management, and Brokerage Company. If you are interested in Property Management in the Portland Metro or Bend Metro Areas, please visit www.uptownpm.com. If you are interested in investing in multifamily syndication, please visit www.uptownsyndication.com.      #realestateinvesting #passiveincome #REinvesting #cashflow #SyndicationAttorneys #Sponsors #Operators #Syndicators #SecurityLaws #GeneralPartners #LimitedPartners #OperatingAgreement#LLC #506B #PrivatePlacementMemorandum #PPM #SubscriptionAgreement #FundRaising #RaisingCapital #506C #SpringingMember #TenantInCommon #BlindPoolInvestments #JointVenture #Syndication #newepisode #podcasting #RoadToFinancialFreedom #WIN #JointheWINpod #WestsideInvestorsNetwork  CONNECT WITH GENE TROWBRIDGE: Phone: 949-855-8399 Website: https://trowbridgelawgroup.com/LinkedIn: https://www.linkedin.com/company/trowbridge-law-group-llp/Facebook: https://www.facebook.com/trowbridgelawgroupYouTube: https://www.youtube.com/trowbridgelawInstagram: https://www.instagram.com/trowbridgelawgroup/       CONNECT WITH US   For more information about investing with AJ and Chris:  ·    Uptown Syndication | https://www.uptownsyndication.com/  ·    LinkedIn | https://www.linkedin.com/company/71673294/admin/         For information on Portland Property Management:  ·    Uptown Properties | http://www.uptownpm.com  ·    Youtube | @UptownProperties      Westside Investors Network  ·    Website | https://www.westsideinvestorsnetwork.com/  ·    Twitter | https://twitter.com/WIN_pdx  ·    Instagram | @westsideinvestorsnetwork  ·    LinkedIn | https://www.linkedin.com/groups/13949165/  ·    Facebook | @WestsideInvestorsNetwork  ·    Youtube | @WestsideInvestorsNetwork  

As a founding partner of Trowbridge Law Group LLP, Gene's law practice concentrates on the syndication of commercial and investment real estate through both debt and equity. Gene has represented over 650 clients in this area of practice. The median offering size is $3,000,000, but he has done individual offerings of over $6 Billion. His practice writes offerings under Rule 506b and 506(c) of Regulation D. As a former syndicator, who for ten years raised investor capital through the broker-dealer community, he is able to communicate with his clients on both the technical and the practical aspects of state and federal securities laws. As a long-time CCIM and CCIM Senior Instructor, Gene has won numerous awards for his teaching ability. His book “It's a Whole New Business!” is really a “how-to manual” on real estate syndication. In this episode, Gene Trowbridge discusses the importance of pre-existing relationships with syndicators and how it needs to be built on trust and mutual respect. He addresses questions every passive investor should ask themselves to better equip them to make informed decisions.  Gene explains the main difference between a 506b and 506c offering and uncovers what an accreditation status is to prove to the government that you're not a liability that they need to protect. He also shares how you can use your assets as an accreditation, such as property or tangible assets.  Mr. Trowbridge shares his vast experience and knowledge on syndication, and reveals some fascinating insights that you won't want to miss!  In this episode, we discuss:  1. How Gene got into the real estate space.  2. Questions every passive investor should ask.  3. Is the industry shifting more towards 506c offerings?  4. How and why you need to obtain an accredited investor status.  5. What is the mission of SCC?  Connect with Gene Trowbridge:  www.trowbridgelawgroup.com  Connect with Pantheon Investments:  Join the Pantheon Investor Club: https://pantheoninvest.com/investor-signup/  Website: www.pantheoninvest.com  Podcast: www.pantheoninvest.com/podcast  Facebook: https://www.facebook.com/PantheonInvest  Instagram: www.instagram.com/pantheoninvest  LinkedIn: https://www.linkedin.com/company/pantheon-invest  Twitter: https://twitter.com/Pantheon_Invest   Youtube: https://www.youtube.com/channel/UC8EsPFlwQUpMXgRMvrmbAfQ  Holistic Wealth Strategy Book:https://www.amazon.com/Holistic-Wealth-Strategy-Roadmap-Financial/dp/B089CS58F1  Email: info@pantheoninvest.com

August Biniaz is the Co-founder and COO of CPI Capital. CPI Capital is a Real Estate Private Equity firm with its mandate to acquire Multifamily and BTR-SFR assets while partnering with passive investors as Limited Partners. August was instrumental in the closing of over $208 million of multifamily assets since inception.  August educates real estate investors through Webinars, YouTube shows, Weekly Newsletter and one-on-one coaching. He is the host of Real Estate Investing Demystified PodCast - https://podcasts.apple.com/ca/podcast/real-estate-investing-demystified/id1650186768 In this episode we talked about: August's Background and how he Found his Niche in Private Equity Nuances and Differences between Investing in the US and Investing in Canada Single-Family Rental Deals Syndication August's Geography of Deals Syndication Structure Limited Partnership Syndication VS Joint Venture Difference between Funds and Syndication State of the Economy Overview Advice to Newcomers Resources and Lesson Learned   Useful links: Books: “Best Ever Apartment Syndication Book” by Joe Fairless “Raising Capital for Real Estate: How to Attract Investors, Establish Credibility, and Fund Deals” by Hunter Thompson https://www.linkedin.com/in/august-biniaz-23291460/?originalSubdomain=ca https://www.cpicapital.ca/ https://www.youtube.com/channel/UCBliV4We30bjaKqmqri8jQg Transcriptions: Jesse (0s): Welcome to the Working Capital Real Estate Podcast. My name's Jessica Galley, and on this show we discuss all things real estate with investors and experts in a variety of industries that impact real estate. Whether you're looking at your first investment or raising your first fund, join me and let's build that portfolio one square foot at a time. Ladies and gentlemen, my name's Jessica Galley, and you're listening to Working Capital, the Real Estate Podcast. Our guest today is August Biaz. August is the co-founder and c o of c p i, capital c p i.   Capital is a real estate private equity firm with its mandate to acquire multi-family and B T R S F R assets, and we'll get into what that is shortly while partnering with passive investors as limited partners. August has been instrumental in the closing of over 208 million of multi-family assets since its inception. August educates real estate investors through webinars, YouTube shows, weekly newsletter, and one-on-one coaching. He is the host of real estate investing demystified podcasts. August. How you doing?   August (1m 1s): Great, man. We're doing much better now that I'm here with you, brother.   Jesse (1m 4s): Beautiful. Well, I'm glad that we finally were able to do this. There's a little back and forth I was traveling, but you look great. You always look sharp for those that are listening full suit and tie, so I'm excited to to chat today.   August (1m 17s): Absolutely. You gotta stay in character, right? When you're in private equity, you just gotta be in character all times. Yeah,   Jesse (1m 23s): The August avatar, So August, you know, for those that don't know, we, we did have a conversation, I think it was the beginning of 20, or the end of 2021. Time flies. I can't believe we're gonna be in 2023 very soon here. But we chatted a little bit of, a little bit about multi-family investing, the economy, and you know, I tell guests if I haven't talked to them in over a year that, you know, nothing really of, of substances happened since we last talked, so I'm sure that, I'm sure we'll have nothing to talk about today.   But yeah, I mean, for those that don't know you August, why don't you give a little bit of a background about, of how you got into real estate in general, and then maybe how you kind of found your niche in, in private equity.   August (2m 7s): Absolutely, yes. I've, I've spent the majority of my professional career in real estate. Started out as a real estate agent 17 years ago, and I wasn't the best at being a real estate agent, but I was great at finding deals and, and putting deals together. I I started doing small fix and flips, started my own general contracting company, and then I started building single family homes more on the luxury side, both spec and custom, always wanted to scale a deal. Came across my desk, which was a five single family home land assembly that the, that we could, we were, we were able to rezone and build townhomes.   We were able to build Tony Townhomes. I syndicated that deal before I even knew what this concept of syndication was, was basically I found a deal. I I, I went to some investors and brought on some JV investors and basically purchased that property. My experience was ma mostly in single family. So I brought on the experts, I brought on AR architect, I brought on a gc, and we, we started processing, we started building that project. And I fell in love with this model, with this concept of finding the deal, finding the investors, bringing all the experts on, and then, you know, being compensated relative to the performance of the project, the performance of the asset.   And I wanted to learn more about the space, how real estate private equity worked, how the world of syndication worked. And most of the content was coming from the us. You know, syndication wasn't very common and still, it still isn't very common here in Canada, but in the US it seemed to be very common. A lot of podcasts, YouTubes a lot of books, and I'm happy to go over that in a moment. And I realized about us multi-family, particularly the value add business model, and fell in love with that model. Wanted to initially duplicate that model here in, in Canada to be able to buy apartment communities.   There was some hurdles and pain points I faced early on the rent to value ratios. You always hear a complaint in Vancouver or in Toronto that rents are very high, but rents relative to the value of the properties are actually very low. The rent to value ratios, you know, in the US are much higher. In some cases they have a 1% rule where one month's, one as properties, one month rent equals to 1% of the asset value. And here in Vancouver, if you do the same ratio, you're at 20 basis points.   So the rent to value ratios weren't there. And, and also in the US they were, you know, a lot of groups, private equity firms were investing in the Sunbelt because the apartment buildings were garden style and two story, three story. We didn't really have that here in, in, in Canada and really we're not really a, a, a renter's nation like, like the US are. So that was the really the impetus for me to look at the us. And then when I looked at the landscape across Canada, I didn't re, you know, there were very foreign and few groups that were actually investing in US real estate that were syndicating deals here.   So the competition wasn't there. And when I compared that to being a builder here in Vancouver, or being a real estate agent in, in our province, there's over 23,000 real estate agents, and that's a bit of a historic number over 8,500 licensed builders. And when I looked at our space of what syndicating US multifamily deals, there were less than a handful of teams doing it. That was really a start to co-found c p capital with partners with our mandate to purchase US multifamily.   Jesse (5m 34s): Yeah, and I think listeners will know, like we, we try to do on this podcast is I, I try to talk both to US and Canadian investors. You know, being a Canadian myself, I, I experienced the same pain points that you did in terms of the education. I started investing in 2000, 2008, and we've, we've gone light years ahead of where we were even back then in terms of the resources, whether, you know, you're on a bigger pockets forum or you're just on YouTube, but 100%, you know, a lot of talk about the irs, a lot of talk about LLCs and you know, for the Canadians listening, you know, all those pieces have little bits of nuance and it's almost more dangerous when you do have people talking about real estate and you're getting informed, but dangerous in the sense that everything is so close that you kind of get fooled to a certain extent.   Or you can, you can think you're doing something correctly and, and in fact you're doing something that is, you know, abiding by u US law, for example, and, and not Canadian. So, yeah. Can you talk a little bit about that process of, you know, education and some of the differences and nuances between investing in the states as opposed to investing in Canada?   August (6m 47s): Absolutely. And you said it perfectly. I mean, it's, it sounds very similarly, sounds the same. Some of the words are really interchangeable, but they're not. So for example, a term offering memorandum. Offering memorandum is usually a package that a real estate agent in the US puts together and gives to buyers when they wanna buy commercial real estate. And offering memorandum in Canada is an exemption you could use through securities commissions to raise capital. So they sound the same, they look somewhat similar, but they're totally different. And then you talk about, you know, LLCs, limited liability corporations or companies in the US and LLCs are very fashionable.   It, they're a hybrid entity. We don't have LLCs in Canada. We either got corporations or we got limited partnerships. We don't have this hybrid that they do in the us which is very fashionable to use when you're structuring deals. But if LLCs are used in the US to purchase and structure, you know, the, the acquisition of a project, that entity, that structure is not tax efficient for Canadian LP investors. Which, which is a case where they get double tax, they pay their taxes on the US side, but when those funds are repatriated, they have to pay their taxes here in Canada as well.   And in most cases, they're taxed close to 70% of their profits goes to taxes on both sides. So yeah. Now as far as a syndicator, as far as a fund manager, as far as someone raising capital, and now you have to abide by, you know, the regulatory framework on both side of the border. You have in the US the S E C in Canada, you have securities commissions in every province you have certain rules and regulations that are national instruments where it's across the board, but every province has their own rules and regulations.   For example, in in Ontario you have sophisticated investors, you have non-accredited, sophisticated and accredited. In BC you only got accredited and non-accredited. So there's nuances there. You know, when we first started our company, our company was Canadian passive investing because we wanted to cater to Canadian investors and bring us investments for Canadian investors. As soon early on we noticed that a lot of American investors were reaching out to us as well. That's what was, without doing any marketing in the us. So we were like, you know what, know what, let's make the company brand a name, you know, to be able to, you know, service both Canadian, US investors and we change the name to CPI Capital, but now we have to abide by laws on both side of the border.   So if you're syndicating a deal and raising capital from Canadian investors and US investors, this structure has to be tax efficient. The structure has to be compliant. The, the exemptions we're using to raise capital has to abide by regulations on both side of the border. So, yeah.   Jesse (9m 25s): Yeah, and I, I think on that piece too, a lot of what is involved in the marketing of, of these deals is very specific on what you can and can't do. And some of the nuances between the states and Canada are important. You know, the, the nuances in general are important, but you gotta be very careful that you're, you're on side of, of, you know, of the law and of the rules. Yes.   August (9m 48s): I'll touch on that briefly quickly here on as far as the, the, the marketing side. So it, you know, with the securities commission, they're not their educating, there is a lot of content there. Most people that work for security commissioners are actually lawyers. When you look at the names of people that working, they're mostly lawyers. So they're there to sue to basically for bad actors and stop fraudsters. And that's understandable. But also they're, they're, they're not there educating you, so you have to get that education through, you know, speaking with, with attorneys and, and, and, and accountants and legal counsels and what have you.   So for example, as far as advertising in the US is very pretty black and white, not as black and white here in Canada. So in the US if you're using the Regulation D offerings and you're, you're raising capital, so you can most probably either using a 5 0 6 c C for Charlie or 5 0 6 B for Bravo, if you use a private 5 0 6 , you can't advertise the moment that you advertise the deal outside of your own network, you're triggering having to now switch to 5 0 6 , which is only accredited investors.   And 5 0 6 you're allowed to have non-accredited investors. I invest with you up to 35 non-accredited investors. But here in Canada is, is a bit more vague. So it, it doesn't go by any kind of trigger that is at the moment that you advertise, it goes by the exemption that you're using to raise capital. So if you're using the offering memorandum exemption, for example, or the accredited investor exemption, you can advertise as much as you want. You can put it on Facebook, wherever you want, obviously, depends what you're saying. If you're, you gotta make sure that you know, the promises you're making or any claims of guarantees are not there, so on and so forth.   So again, that is another situation, whereas far as fund managers or anyone's looking to start a fund or syndicate a deal, they have to be very careful and follow their guidelines by their Canadian and and US councils.   Jesse (11m 34s): Yeah. And for, for the Canadian side, the, like you said, it's a little bit more vague. And for those, I mean, if anybody's having trouble sleeping and wants to, wants to take a look at this stuff, if you Google National instruments in Canada, that's kind of our version of these exemptions. So I think it's National exemption 1 0 5, 45 1 0 5 45 1 0 5, 1 0 6.   August (11m 56s): Yep.   Jesse (11m 57s): Yeah. You'll see exactly. Friends, family, and you'll see kind of an outline of, you know, what, what that means, those definitions. And you know, in, in, you see, well, part of the reason in the states you see that you get put on an email list and there's conversations that happen is because there has to be a substantive relationship for, for you to kind of get into, I believe it's the 5 0 6 world, right?   August (12m 19s): B, b B for Bravo,   Jesse (12m 20s): B Bravo, yes. But yeah, I mean all those, all these pieces are important when you're, when you're doing these deals, but you know, that's why you hired the lawyers and you, and you make sure that you're, you're abiding by those terms. But I would always caution us, you know, Americans being careful when stuff is coming out of Canada in terms of educational content and then vice versa, Canadians being careful of what they're hearing in the states. And always make sure you talk with your accountants and, and obviously your lawyers when drafting these type of documents. Now, in terms of, you know, the actual fund stuff, when you get to acquiring real estate, we talked about this new asset class and it's built, built to rent single family rentals and it's, you know, we talked before, it's a newcomer asset class that you, you guys really like.   So maybe first you could describe what it is to listeners and we can chat a bit about, you know, why it's an appealing asset class.   August (13m 10s): Absolutely, yes. Yeah. So B T R S F R built to rent single family rental is a newcomer asset class at a commercial real estate umbrella. It's, it's an asset class that really started in post gfc when the foreclosure on homes it was, was, was, you know, tremendous amount of homes were being foreclosed and Wall Street got involved and they came on purchasing single family homes and swats of single family homes. And they, they started purchasing these single family homes in the, in, you know, buying these things, pennies on the dollars in the hopes of selling them when the market turn turned around.   But while they were holding the asset, they started renting them out. So they realized that this, the asset class be built to rent single family rental homes in a portfolio or in the community. They actually behave just like multi-family by the way they're managed and, and and rented. And actually they, the, the type of tenant demographic and the stickiness of the tenants is actually better than multi-family. So they actually started to be more involved in this asset class. And by, you know, 2015 when the market had completely turned around, they, they couldn't purchase these homes pennies on the dollar no longer.   So they started actually partnering with developers, and this is Blackstone and other kkr, other large private equity firms, they started actually partnering with developers and building purpose-built rental communities. These are single family homes built, you know, approximately 1500 square feet, you know, 3, 2, 3 bedroom, two car garage in a community of single family homes, purpose-built rental. So the plan is to rent it. And yeah, it was the start of this new asset class and now you have groups like us that are syndicating these deals.   There's a sweet spot for us, the non-institutional groups, which is kind of the 60 to hundred single family homes in a community. And, and yeah, it's, it's, it's a tremendous asset class. I really believe in it, especially post covid. A lot of people rather live in a single family home, have their own privacy, not have somebody living next to them, above them have ha have their own, you know, two car garage independence. And also they're, but even though they're living in a single family home, they're not living in a community when they're, when they're one of the only renters, everybody else in the community is also renters.   So they get, you know, they're part of the same similar demographic and you know, they don't have to live in a neighborhood where, you know, they're, they're, they're, they're kind of the, oh, this person rents or what have you. So they're with others who rent. So yeah, it's a very interesting asset class and we're looking at it very closely. And yes.   Jesse (15m 46s): So with the, with the bill to rent, when you're saying that you're syndicating for these deals, what, in terms of the scope, are you syndicating the actual construction of them? Are you purchasing existing and you're being part of the equity, equity and debt at that point? How, how does that structure look?   August (16m 4s): Great question Christian. There's really three main ways to get involved into B T R sfr as the syndication group. You can either purchase a piece of land, partner with a developer or hire a developer to build these single family homes. You syndicate the project in different tranches, the first tranches to fund the capital needed for entitlement and rezoning and putting, putting the project together. And then the next tranche is to fund the construction. And then at stabilization, you're refinancing and paying back your investors.   However, you, you, you structure it. So it's getting involved early on. And the other way is to buy and already build project and you're taking lease up risk, basically bringing it, you know, from zero vacancy to full occupancy. And then there is, the other way is to, to, to buy an already stabilized BTR community and then going in there if, if it's a few years old, you can utilize the value add model. If, if a developer had just finished building it and just occupied it with tenants that they could just to be able to bring the occupancy up to 90% so they could sell to a buyer at that time, your business plan is just to go in and bring those rents back to up to market and bring the occupancy higher.   So there's different really stages that you get involved, depending on your, the, the firm's risks appetite, depending on their LPs, risk, appetite of where they want to get involved. Some LPs don't want to take any entitlement rezoning or construction risk. So in that case, the syndication group buys the asset when it's already stabilized. So it really depends on the group and their investors.   Jesse (17m 42s): And you mentioned a little bit about having US investors contact you in terms of finding deals. So this, in terms of geography, where are you looking at these properties or projects and, you know, maybe where, what are some examples of, of projects that you've done and, and where they are geographically and, and perhaps even the scope of them?   August (18m 2s): Our, our focus, our mandate is the US sunbelt. So the Sunbelt state, if you look at this, the, the, the southern part of us is, is like a smile. So you have Nevada, Arizona, Texas, north and South Carolina, Florida, Georgia, Alabama is, it's in our, you know, state that's doing tremendously well over the last few quarters. So that's somewhere we're looking at as well. We currently own assets in Orlando, Florida, Charleston, South Carolina, Houston, Texas.   Our BTR project that we were working on for a few months is in Tucson, Arizona. So we're very sunbelt focused, somewhat agnostic when it comes to these regions as long as certain key metrics are visible are available. So rent growth, population growth, income growth. And yeah, the sunbelt, again, they're mostly red states. They're very business friendly, they're very landlord friendly, they're no rent control laws.   So that, that's our focus. Yes.   Jesse (19m 5s): So in terms of the, these assets, we talked a bit about structure being different with Canadian versus US real estate, Canadian versus US investors. Let's, for the purposes of, of, you know, our conversation here, let's just assume that there's a Canadian investor that wants to invest in a syndication and it's US syndication. How are you structuring those syndications and maybe what are some of the things to, as a Canadian to, to look out for and and to make sure that you're doing properly?   August (19m 35s): Yeah, so the first advice here is if you're a Canadian LP looking to take advantage of, you know, great returns that are available in the US and us multi-family in general, and you want to invest in syndication syndicated deals and you're looking across the border to invest, investigate a US syndicator, the, the, the, the, the rule is do not invest in a deal that is structured in a llc no matter if there is a limited partnership in between as a conduit that doesn't make a difference if the deal is structured in the LLC is not tax efficient.   And keep in mind that us syndicators there are watching their their own back, they just wanna make sure they are compliant and they're tax efficient. You know, they're, they're not looking long term in what, what happens to the Canadian investors coming on board. So you gotta watch for that. There's been a lot of examples of Canadian investors that have invested directly with us syndicators and the, there, there was issues there also. The US indicators, majority of their, their investors are American. So in my conversation with US investors who do cater to Canadian investors, less than 5% of their investors come from Canada.   So they're not there educating themselves about structures needed and what have you. So if the deal is structured in, in, in a llc, do not invest as far as how we structure our deals, we utilize a fund to fund model. So we create a project specific fund here in Canada, which is a limited partnership. We abide by the rules and regulation to raise capital for that particular syndicated investment. So for example, let's say we use the offering memorandum exemption or the accredited investor exemption.   So we, that's, those are the guidelines, those are the, that's the exemption we use to raise capital for our investors. And then we create a project specific fund in the us That fund is the entity that owns the asset on the US side. Our US investors invest directly into that US-based fund and our Canadian investors, the Canadian fund invests into the US fund as just another investor. So look at the Canadian fund, which is comprised of multiple investors as as just one investor investing into the, into the US fund.   And it also, you know, there there's other bells and whistles that goes with the structure that we have, which alleviates our Canadian investors from having to file US taxes. It's stressful enough dealing with the CRA not having to deal with the IRS every year as well. It could be cumbersome and cause some attention. So the structure we've, we've, we've, we've put together is a structure that the Canadian investors don't need to file us taxes. The, the entity will file the taxes on their behalf.   Jesse (22m 16s): So if I understand that correctly, it's there, there would be a u s LP involved, the Canadian LP involved, and the Canadian LP would be investing in the S LP as a limited partner. Is that right? Ex   August (22m 27s): Exactly.   Jesse (22m 27s): Okay. And in terms of, cuz we talked a little bit at LLCs and you know, caveat we should, you know, we always say is, you know, for any of this advice, you know, don't, don't take our word for talk to your professionals, but in terms of the, in the US side of the equation, a lot of times you see that there's still an LLC used as title to the land and it might be a 0.0 1.001% ownership in the limited partnership. I, is that still done in these deals? We're we're titled to the property will still be in the llc even   August (22m 59s): Very, very, very, very sophisticated question and you're definitely someone who has got a lot of experience. So, so depends where that vice is coming from. So this concept of disregarded entity that you speak of, which is that US LLC that holds a title which comes into effect because a lot of us lenders want the, the, the entity that holds a title to be a single member entity, which is a disregarded entity. And then the, the limited partnership is actually used as, as the entity that syndicates the deal.   But because of the source of where the asset is held is still LLC that could cause problems. It could most probably cause problems in a case of an audit. So advice that we've got from multiple, not CPAs, not just random accountants, but tax lawyers that, that that practice on both sides of the border. Not just a Canadian lawyer who specializes in US tax law, but Canadian lawyers that specialize in both laws.   That vices that is not a tax efficient structure even though that structure is, has been used commonly because of the source of, of, of, of the ownership of the entity is still llc be it a single member entity, be it a disregarded entity because the source is still there. It could, could cause problems depending on who, who the auditor is, depending on who it is. So the advice was against that. So there are ways to get around it to be able to convince the lender that the entity owned asset cannot be llc.   But that's a conversation that groups need to have and yeah,   Jesse (24m 39s): So yeah, that makes sense. I think what's important is that you, you make sure that you understand these structures. So in terms of the, the actual syndication itself, why don't you, for listeners you hear a syndication JV joint venture. What's the difference between the two?   August (24m 54s): It's a joint venture is when two parties or multiple parties come together to, to, you know, execute a business plan and, and get together to do complete adventure. And, and there are, they're partners, their, their names, the level of liability is there. They're, they're either, you know, the, the, the the, the debt is on the liability exists as far as debt for all members and all partners involved.   So it's more of a partnership where everyone is active, they're active partners. A syndication really talks about when there is two different types of partners. Some partners are silent, they're limited partners, they have limited liability. Their, their liability really stops at the amount of capital they've invested. They have no li debt liability, they have no liabilities in regards to, you know, damages or things going wrong at the asset. And then you have the general partner that, partners that manage the project where they have unlimited liability and all the liabilities on them.   That is really usually used to differentiate between the JV and a syndication. Jv all partners are active in a syndication. There are different types of partners. Now keep in mind in certain JVs, I I know, I know individuals who, who incorporate corporate companies and within the company shareholder agreements, they write that certain partners are just putting the funds, but the way that the, the S E C or the security commissions look at, as soon as your partners are silent and they're only putting the capital that is, they're looked at as a, as a syndication.   So you gotta keep that in mind as well. And then it could triggers issues, same thing on the US it could trigger issues as well. Individuals can't just be investing capital. If they're investing capital, they're passive and that triggers certain compliance and regulatory guidelines that they have to follow. So that's really the differentiating between JV and syndicate investments.   Jesse (26m 56s): Yeah, and it's important to, to make sure that that's ironed out again at the beginning and understanding that the different roles have different consequences cuz you can call something a partnership, it doesn't mean it's a partnership and, and vice versa. So I think it's, you know, one of those things that you kind of outline who, who has which responsibilities and partnerships. Something that you know, you, you got, you want to build that good base before you go into these investments. When it comes to syndications, you hear, you know, a lot of different structures when it comes to syndications.   So when we talk about say a co syndicator or you have a cog p what is that and, and is it something that you employ in the deals that you, that you do?   August (27m 39s): Yeah, no, tremendous question. So these syndicated deals, they're, they are very, they're they're somewhat sophisticated because again, you have the structure. Like for example, in our case, if you look at our org chart, you have US entities, Canadian entities, you have US investors, Canadian investors. But the, the great thing about syndicated in investments is that the structure can really be designed depending on the need and of the syndication group. So a lot of times you hear this phrase that real estate is, you know, real estate syndication or real estate investing is a team sport because, you know, to, to put together the perfect syndication, you have three main components.   You have the equity, which is investor relations, raising capital, the capital needed for the project. You have the acquisition, which is sourcing the deal, underwriting the deal, you know, physical due diligence. And then you have the asset management, which is basically executing the business plan, making sure the project is operating the correctly and the value add is conducted readily if there's value add involved. When partners come together, depending on what their contribution is to the partnership, they can play those roles and syndications can be really put together.   So you could have three partners. One of the partners great at raising capital, one of the partners is great at sourcing deals and one of the partners is great at executing the business plan and asset managing. And they can come together and they can play those parts within the syndicated syndication group. But then you also have lead sponsors. Lead sponsors are are groups that source the deal. They source majority of the capital, they execute the business plan. They, they have asset management in-house, but at times they might need assistance in capital raising and some other duties and responsibilities.   That's when they open a door for this concept of co syndication or co-sponsorship where the other groups come in and join them and they partner together to be able to close on larger deals. So you are syndicating the LP investors bringing tens or hundreds of investors to invest with you and all put in, you know, a certain amount of investment. But then you also have other groups who are coming in there with their own investors, with their own expertise, with their own contribution into the deal. And that's what creates really co syndication.   And it's, it would be my advice to any group who's looking to syndicate deals here in Canada or the US would be try your best to do your first deal as a co syndication partner with a lead sponsor who's done this multiple times before, who understands the structure, particularly cross-border. And yeah, we, we, that's what, that's one of the strategies we utilize. So we partner with other sponsors, other syndicators who come on board with us, us being the lead sponsor and they partner with us. And early on when we did our first few deals, we did the same thing.   We joined a lead sponsor and we were able to close on much larger deals that we could have done ourselves.   Jesse (30m 35s): Yeah, we see a lot of benefit when it comes to, especially if there's a new geography or if your, you know, if your cog p is has some area of expertise that you don't have. So for instance, if you know they're a developer or there are a somebody that can source deals, like you said, you know, maybe they find the deals and then your component is raising capital, and then just like if you were partnering with somebody on an individual basis, these more sophisticated structures very similar. It's just that the, you know, the deals are a little bit more complex and the structures are a little bit more complex, but ultimately, you know, it's the same thing as if you had a couple buddies putting together a deal.   Not everybody's most likely. And the the partners aren't good at every single aspect of the deal. So you'll have the asset manager, you'll have the person that can raise capital development if it's construction project. Now, how does that differ from your point of view from going into the funds? So maybe not specifically just the fund of funds model, but funds in general as opposed to syndication. Obviously you're gonna need more deal flow, but there are nuances between funds and syndication and there is a, you know, this idea of having that capital and deploying it because you know, o oftentimes you'll, you'll have a drag if you're not getting a return on that capital.   So could you talk a little bit about the difference between syndications and funds?   August (31m 58s): Yeah, absolutely. So if you look at syndications, see a syndication as a project specific fund. So you're have one deal, you put that deal under contract, you create your marketing material, you follow the regulatory guidelines to raise capital, you present that deal to your investors, you raise the equity needed for that project. Investors know exactly what they're investing into. They know exactly what the business plan is, they know exactly what the exit strategy is and so on and so forth. A fund is more of a, a basket of multiple investments.   So a fund could be, for example, let's say, you know, CPA capital starts a fund, which is a 50 million fund, which is mandate to buy us multi-family assets. C p a capital will continuously raise capital for, you know, for foreseeable future. And depending on how much capital they raise, they then deploy that capital and purchase assets and put it into, put, put those assets into the basket. So you're continuously raising capital until you hit your, you know, your what, what your goal was in your, your your, your total funds raised, and then you're continuously purchasing assets at the same time.   So that's really the fund model. The other differentiating factor is the, the, the, the fund funds usually yield lower, somewhat lower returns to investors because your investments is aggregated amongst a group of investments. Some deals might be doing really well, some deals might not be doing so much. So you have that you, you get that average aggregated number back and returns back. And also the cost of managing funds are higher than, you know, there's usually audited financials, annual audited financials and what have you and fund management softwares that are needed.   Whereas the syndicated investments, that's not, not in need. So it's lower cost of management. But overall, I would say as, as as investors who LP investors are looking to invest into commercial real estate passively, I would say diverse of our portfolio is probably the best way to go. So some of your investments should be in syndicated deals, some of your investments should be in funds and deals that are structured in funds and yeah, that's basically the main differences between funds and great that you bring that up, is that because of the difficulty and cumbersome process in putting these syndicated deals in cross-border multiple syndicated deals, we're actually looking to, we're in the process of starting our first US Canadian, US multi-family fund.   And actually I was gonna book a call with you. We were, I was gonna discuss to see get you, get you on there as board of directors as well. So that's a phone call you're gonna be getting from me soon here to discuss the fund. There   Jesse (34m 37s): You go. We're in real time. I like it. No, it makes sense because again, it goes back to this idea of there's a lot of information and it doesn't really matter if you're an American or Canadian because you can have, you know, you can have information that comes from the states and you're, you live in the states, you're American citizen and it's still not be correct. So it's always important to understand, you know, what the nuance is. There's a lot of great stuff on YouTube, but you know, a lot oftentimes there's, there's some misinformation. So it's, it's important that you, you know, you look into this stuff as you're making these decisions because for most people it's, it's, it's a lot of money.   It's a, it makes a large, it's a large percentage of the portfolio that you're, they're usually dealing with and you know, I love my real estate brothers and sisters, but we tend to be very asset specific too. So when we go into these deals, it's important that we understand them. I want to switch gears a little bit August and be mindful of the time, but you know, something that's absolutely topical right now is the economy. We're in a place right now where interest rates have gone up more than we have seen them in quite some time.   I remember when I started investing, I was saying oh 8 0 9, you know, five and a half, 6%, that was kind of the norm for five year fixed, you know, we got down very low and now we're kind of heading back up and there's a, I think a very big question mark of what 2023 has in store for us. So I guess put simply loaded question, but you know, what is your view on the state of the economy and, and what we're gonna be kind of looking at as you know, we kick off January in 2023.   August (36m 17s): Yeah, absolutely. So I definitely have a dog in the race because I'm in the real estate investment world. So we, we, you know, the, to keep the cop company operational, we have to close on deals, but we also have to be very vigilant of our, our investors' capital and be very opportunistic over the next couple quarters here. So we're very vigilant on the deals that we we're gonna be doing. Overall speaking about the economy, I personally believe that the economy is not sick. It is not a situation where it was in oh eight and in gfc I think what's happening is we're just paying for the residuals of covid where, you know, you have trillions of dollars that were printed by central banks and it really created so much liquidity into the economy and were really paying that back and that that's really what created inflation.   And, you know, the, the fed was, was, was a bit late, but they came back in and they've been very aggressive, very hawkish fastest increase in interest rates over 300 basis points in the shortest time since I believe the, the eighties they'll continue to raise. So investors have to really, really be careful in this, in these situations because when you are in an increasing interest rate environment, everything changes, doesn't matter what is it being increased by, but as, as the Fed and central banks are increasing those interest rates, it creates a lot of tension when it comes to lenders, when it comes to properties.   But there's also opportunities that can be found. For example, one of our strategies over the next couple of quarters is looking at deals in situations where either syndicated groups or other groups were overleveraging themselves. Maybe they didn't purchase a rate cap or maybe the, the rate cap that the purchase is coming due and now they have to repurchase it, which is a huge amount that they have to pay for the new rate cap they have to purchase. So there are opportunistic investments available and, you know, to, to watch out for.   There's also deals where you could do consumable loans, basically take over a loan, which it matures in, in, in the next three years. So over the next two quarters, at least till Q3 of 2023, I would, my advice is for investors to be very cautious, only get involved in deals that have a certain opportunistic component in them and from, but, but moving from there, I feel that at some point, obviously the, the Fed will stop raising rates, they will taper off and probably most probably start, you know, lowering rates sometime either at Q4 of 2023 or early in 2024.   They have a huge debt, they have 33 million of debt that they're paying and, and if the interest rates stay as high as they are, the premium they're paying on their own debt is so high that will cover most of their, their budget. So they don't want race to stay high themselves. So, but yes, that's, that's kind of overall how I feel about the economy and also, again, talk about those nuances. You've got the Canadian economy, you've got the US economy, you got the, you know, bank of Canada, you have the, the Fed raising rates at, at, you know, depending on how they want to control inflation in their own countries.   So yeah, the get as much as content and information out there, keep stay up to date of what's happening and be very careful over the next couple quarters.   Jesse (39m 35s): All right, August, so we're gonna kick off the, the final, final questions here. So if you're ready I'll send them, send them at you.   August (39m 42s): Ready?   Jesse (39m 43s): Okay. For younger people in our world in real estate, real estate investing, what advice would you give them?   August (39m 51s): Ooh, let's see. That advice I would give to people starting us. So don't be afraid of large numbers. Syndicating a deal that's is a duplex in a suburb of Ontario is just as easy as syndicating a hundred unit apartment communities. So don't be afraid of large numbers. The other other advice is really the golden rules of real estate. Don't be highly leveraged and exceed the business plan that you had from day one. And educate yourself, you know, eat, sleep, live, breathe this business and educate yourself and be a student of the game.   Jesse (40m 21s): What's one thing that you learned in the beginning of your career early on that, that you wish you knew back then that you know now?   August (40m 30s): Syndication. I wish I knew that you could syndicate deals and, you know, partner with others and to be able to close on larger deals.   Jesse (40m 39s): All right. Any resources, podcast books, shows, anything you are, you're taking in right now that you could recommend to our listeners   August (40m 48s): Podcast shows? Yeah, let me see. I watch Great Capital. It's pretty sophisticated stuff, but great capital. They have great podcast. The guys there, Spencer Gray and his team, that's a, that's a podcast that I listen to religiously. Other resources, books. Do you have a, do you have a book question coming up or   Jesse (41m 9s): No, no, that's, that's part of it. Yeah. Media, books, shows, whatever, whatever you're taking in right now. Yeah,   August (41m 13s): If you're looking to start a fund, if you're looking to start syndicating larger deals, I would recommend two really. The two Bibles of Syndications are the best ever apartment syndication book by Cho Fer, and then Raising Capital for Real Estate by Hunter Thompson. One of them is about raising capital, the other one about really syndicating multi-family deals. So they're both, like I said, they're bibles of syndication that you have to read and educate yourself.   Jesse (41m 40s): Yeah, and I'll just shout out to, to Hunter as well. He is got a great podcast, so check that out. You can, I, I, I don't want to get the name wrong, so just Hunter Thompson Real Estate, you could check that out. But that's also yeah, an absolute great book. And Joe Faris, I mean that really is the Bible when it comes to Ba of Investing. August. For those that want to connect with you, what's the best place that we can, we can send them,   August (42m 8s): I'm very active on LinkedIn, so you know, August Penny as on LinkedIn cpa, capital on LinkedIn. Get in touch with me. Send me a message. You, you're looking to start your own fund or syndicate deals. More than happy to chat about co syndication, our website, CPA capital.ca, YouTube and podcast Real Estate Investing demystified August Biaz, Google it. A lot of stuff will come up. I'm easy guy to get ahold of.   Jesse (42m 34s): My guest today has been August Bins. August, thank you for being part of Working Capital.   August (42m 39s): Thank you for having me.   Jesse (42m 48s): Thank you so much for listening to Working Capital, the Real Estate podcast. I'm your host, Jesse for Galley. If you like the episode, head on to iTunes and leave us a five star review and share on social media. It really helps us out. If you have any questions, feel free to reach out to me on Instagram. Jesse for galley, F R A G A L E. Have a good one. Take care.   ...  

Danielle Zanzalari recently wrote an article about one of the many ways the rich have bent the law in favor of themselves in order to crowd out competition from the poor and middle classes. Regulation D prevents 90% of Americans from investing in high-risk, high-return schemes, and Zanzalari explains why it is time to end it.  https://youtu.be/QK43Kep_dFU Danielle Zanzalari is an Assistant Professor of Economics at Seton Hall University, Garden State Initiative Contributor, and Young Voice Contributor. She writes personal finance lesson plans for high school students across the country and deeply cares about personal finance education. The GOP Must Reduce the Barriers to Investing By the Poor and Middle Class - https://www.realclearmarkets.com/articles/2022/11/09/the_gop_must_reduce_the_barriers_to_investing_by_the_poor_and_middle_class_863760.html Join our Patreon now for commercial-free shows, bonus content and our complete archives - https://www.patreon.com/wearelibertarians ---- This episode is brought to you by Iconic Insurance. Fifteen percent of Americans are left to find health insurance on their own. You might feel overwhelmed, lost, or frustrated, and if that's you, feel in control of your health with Matt Allen's help. Visit www.iconic-insurance.com/libertarians to get started. --- Take charge of your healthcare today with CrowdHealth. Open enrollment is the only time you can hit eject on the broken system without penalty, so don't wait. And for a limited time, join for just $99 per month for your first six months when you use promo code WALN at joincrowdhealth.com. CrowdHealth is not health insurance. It's a totally different way of paying for healthcare. Term & Conditions may apply. --- Q Sleep Spray assists in achieving a more restful sleep so you can wake up refreshed. Q SLEEP contains incredible ingredients, including melatonin, 5-HTP, and L-theanine, as well as a proprietary herbal extract, which synergistically promotes restful sleep and helps your mind and body rejuvenate. Buy Now - https://wearelibertarians.com/sleepspray/ --- Chris Spangle and Leaders and Legends, LLC edited and produced this podcast. If you're interested in starting a podcast or taking yours to the next level, please contact us at LeadersAndLegends.net. ---- Looking to start a podcast? Download my podcast Podcasting and Platforms now, and check out my recommendations for buying the right equipment. Learn more about your ad choices. Visit megaphone.fm/adchoices

Guest Bio:Matt Burk is the CEO of Fairway America and Chairman of its affiliate, Verivest. Originally founding Fairway Financial Services in 1992, Mr. Burk has led their growth from a small operation to the robust market leaders they are today. He is a passionate industry coach, advising many middle-market real estate entrepreneurs, fund managers, and sponsors on all aspects of 506 Regulation D fund business. Additionally, Mr. Burk authored the seminal book on capital raising for middle-market real estate entrepreneurs, Capital Attraction.Having spent his full professional career in real estate finance, he has expansive exposure to all real estate asset classes, structured finance, distressed debt acquisition, disposition, real estate syndications and pooled investment funds. A former basketball player and lifelong sports fan, Matt received a Bachelor of Science degree in economics from the University of California, Davis.Connect with our Guest:matt.burk@fairwayamerica.com or matt.burk@verivest.comSUPPORT OUR SPONSORS:Canovo Capital - Hassle-Free Commercial Real Estate InvestingDealCheck.io - Analyze Any Investment Property in Seconds ( Use "CANOVO25" for 25% off)SyndicationPro - Investor Portal - Raise More Capital in Less Time FREE RESOURCES:Download Our Passive Investor Guide to Multifamily Syndications CONNECT WITH US!YouTube | Linkedin | Instagram | Website | Facebook | Twitter LOVE THE SHOW? Please subscribe, rate, review and share! Thank you!

Podcast guest this week is Matt Belcher, CEO and co-founder of Caltier, a new entrant to the real estate crowdfunding platform, and one of those that caters to both accredited and non-accredited investors. Caltier uses Regulation A+ for its fund, another of the 2012 JOBS Act innovations, that are sometimes also known as mini-IPOs. The regulation brings with it higher disclosure requirements than the usual, accredited investor only Regulation D, and presents some unique opportunities for crowdfunding platforms like Caltier.  Finding deals they both co-invest in as well as own directly Caltier provides real estate investment access to everyone with just a $500 minimum investment. Learn more in this podcast and forgive Matt his strange, foreign accent. He can't help it.

My guest in this episode is Gene Trowbridge from Trowbridge Law Group. Gene has been in the commercial and investment real estate business continuously since 1972 and in the legal profession since 1996. Awarded the CCIM designation in 1977, Gene continues to serve as a member of the CCIM faculty and achieved Senior Emeritus Instructor status, upon 40 years of teaching. In 2002, he was selected as the Robert L. Ward Instructor of the Year in the Institute. In 2005, Gene was awarded the Victor L. Lyon Distinguished Service Award for his many years of outstanding contribution to the Institute's education program. He is a member of the California Bar. As the founding partner of Trowbridge Law Group LLP, Gene's law practice concentrates on the syndication of commercial and investment real estate, through both debt and equity. As a former syndicator, who for ten years raised investor capital; he served as the sponsor of sixteen investment groups, by raising equity from investors, through registered representatives in the broker dealer community, once sending out 1,676 K1s in a single year. He was responsible for the organization of those investment groups; the acquisition, management, and disposition of the real estate; and communications with the investors. Because of his hands-on syndication experience, Gene is able to communicate with his clients, on both the technical and practical aspects of state and federal securities laws. Between Gene's individual syndication background and the firm's legal practice, the partners in the firm have written offerings of more than $5 Billion in monies raised. The median offering size is $2. 5 million. His practice writes offerings under Rule 506(b) and 506(c) of Regulation D ; Regulation CF and Regulation A+. He has trained and mentored three different law partners, in syndication and crowdfunding, since 2008. He has delivered more than 250 live seminars on group ownership, exchanges and taxation audiences across the country; his articles have been published in various real estate media outlets and he is a highly sought-after speaker on the subject of real estate group ownership. Interview Links:  Trowbridge Law Group https://trowbridgelawgroup.com/ It's a Whole New Business, Fourth Editon: The how-to bible of syndicated investment real estate  Episode Sponsors: Producers Wealth: Create Your Own Banking System In 30 Days Or Less www.producerswealth.com Pantheon Investments: Build holistic wealth to achieve financial freedom in any economy www.pantheoninvest.com The Real Asset Investor: Build Wealth With Higher Yield Cash Flow www.therealassetinvestor.com Strategic Metals Invest: Invest In Rare Earth Elements & Technology Metals www.strategicmetalsinvest.com Penumbra Solutions: Buy Your Equity Like Institutions With Life Settlements www.thepenumbraplan.com  - password “penumbra” Producers Capital Partners: Multiply Capital Through Alternative Investments  www.producerscapitalpartners.com Lavish Keys: Your Turnkey Solution For Luxury Short Term Rentals www.lavishkeys.com Grab My Book: The 21 Best Cashflow Niches™: www.cashflowninja.com/21niches Connect With Us: Website: http://cashflowninja.com Podcast: http://cashflowinvestingsecrets.com Facebook: https://www.facebook.com/cashflowninja/ Twitter: https://twitter.com/mclaubscher Instagram: https://www.instagram.com/thecashflowninja/ Pinterest: https://www.pinterest.com/mclaubscher/cashflow-ninja/ Linkedin: https://www.linkedin.com/in/mclaubscher/ Youtube: http://www.youtube.com/c/Cashflowninja Bitchute: https://www.bitchute.com/channel/cashflowninja/ Rumble: https://rumble.com/c/c-329875 Odysee: https://odysee.com/@Cashflowninja:9 Gab Tv: https://tv.gab.com/channel/cashflowninja Brighteon: https://www.brighteon.com/channels/cashflowninja Parler: https://parler.com/profile/cashflowninja/ Gettr: https://gettr.com/user/mclaubscher Gab: https://gab.com/cashflowninja Minds: https://www.minds.com/cashflowninja Biggerpockets: https://www.biggerpockets.com/users/mclaubscher Medium: https://medium.com/@mclaubscher Substack: https://mclaubscher.substack.com/

In this episode of Purpose-Driven Wealth, Mo Bina and Matthew Iak talk about the tax advantages of oil and gas investing. From Matthew's perspective, the oil and gas investment is the best financial planning tool because it can get so much more return in a faster period. This time value allows you to do other things with that cash, like investing it back in other asset classes. He also added that tax deductions contribute to higher and faster cash flow. To learn more about investing in the oil and gas space, tune in and enjoy!   In this episode, Matthew talks about…   Oil and gas performance in hyperinflation or stagflation Opportunity zones and their benefits to oil and gas investors Mineral rights and mineral vertical working interests On why the tax code incentivized domestic energy development Types of structures and offerings available for investors that are interested in oil and gas Financial advisor – the best conduit to get to energy   About Matthew Iak…   Matthew Iak is the Executive Vice President of U.S. Energy Development Corporation and a member of the company's Board of Directors. He has overseen the capital raise of more than $1.6 Billion since he joined the company in 2005.   Mr. Iak has extensive knowledge of private placement, Regulation D, and estate and tax planning strategies. He has led the construction and underwriting of multiple new investment structures in the oil and gas space which include, energy 1031 exchange funds, private capital acquisition funds, and most recently qualified opportunity zone funds.   In addition to being on the Board of Directors at U.S. Energy, Mr. Iak is a member of the company's second generation leadership team, serves as the President for a series of family real estate and real estate management companies, and is the CEO and President of U.S. Energy's Managing Broker Dealer, Westmoreland Capital Corporation. Mr. Iak is also a board member for Real Asset Advisor.   Prior to joining U.S. Energy, Mr. Iak worked as a financial advisor and oversaw client assets in excess of $1 Billion.   A highly sought after public speaker, Mr. Iak is frequently invited to present within the financial community on oil & gas economics, taxation, and financial planning. Mr. Iak is a graduate of Canisius College and holds his FINRA Series 7, 24, 63, and 66 licenses.   Catch Matthew Iak on…   Website:      https://www.usedc.com/ LinkedIn:     https://www.linkedin.com/company/u.s.-energy-development-corporation/     Connect with Mo Bina on…   Website:          https://www.high-risecapital.com/ Medium:          https://mobina.medium.com/ YouTube:        https://www.youtube.com/channel/UC5ISsEKBHlkX7lk9b68SKLA/featured Instagram:      https://www.instagram.com/highrisecapital/   For more information on passive investing in commercial real estate, please check out our free eBook — More Doors, More Profits — by clicking here: https://www.high-risecapital.com/resources-index    

How To Properly Set Up Your Real Estate Syndication Welcome to episode 68 of The Multifamily Millionaire: Real Income From Real Estate with Jason Lee. This week Jason welcomes Gene Trowbridge and picks his brain about how to properly set up your real estate syndication. As a founding partner of Trowbridge Law Group LLP, Gene's law practice concentrates on the syndication of commercial and investment real estate, through both debt and equity. Gene has represented over 650 clients in this area of practice. The median offering size is $3,000,000 but he has done individual offerings of over $6 Billion. His practice writes offerings under Rule 506b and 506(c) of Regulation D.   To download your free Real Estate Deal Analyzer just head to https://jlmrealestateinc.com/free-product/. With this guide, you'll be able to easily understand your real estate deals.    Here is what to expect on this week's show: How Gene got started in real estate Why Gene made the change at 45 to go from syndicating to a syndication lawyer The common mistakes investors make when setting up their syndication How to ensure your syndication is compliant Relevant links: https://trowbridgelawgroup.com/ https://www.linkedin.com/company/trowbridge-law-group-llp/ Connect with Jason: Instagram: https://www.instagram.com/jasonjosephlee/?hl=en YouTube: https://youtube.com/channel/UCWNrpNXpGuujHMVZJWmBLsw LinkedIn: https://www.linkedin.com/in/jason-lee-3b7806115/ Learn more about your ad choices. Visit megaphone.fm/adchoices

On today's podcast I had Bridger Pennington on. Bridger is the fund expert! This guy has trained students all over the country on how to start funds. We talked about all the differences of the various funds, wether it's private equity, hedge funds, real estate funds, 506B, and 506C. If you've ever wondered what all these terms mean, we go in-depth on it in this podcast! We also talk about conspiracy theories of how Blackstone and BlackRock operate, and why the fed is actually buying equities, like Google and houses. Why are they doing those things? We also talk about where interest rates are going, inflation, and other different topics you will be interested in! Then we go into crypto, NFT's, what it's going to look like in the Metaverse as finds gain notoriety and as  people raise funds to do things! It is a really good podcast and is one of my favorites that I've done!Follow Bridger on social media! Youtube -  @Bridger Pennington  Instagram - @bridger_penningtonBridger's Free Course - https://www.investmentfundsecrets.comJoin the Wealthy Way today and get access to my free course, planner, and discord community! https://wealthyway.com______________________________________________________Here's how my businesses can help you:For a free consultation with my team go to https://RyanPineda.comWant to be coached by me on real estate investing? Apply at https://futureflipper.comLet my company make you passive income through E-commerce Automation! Watch the case study at http://lunarecom.comJoin my free coaching program for real estate agents! https://wealthyagent.io/Need Tax and Accounting help? Contact my CPA Firm! https://TrueBooksCPA.com/You can invest in my real estate deals! Go to https://pinedacapital.com______________________________________________________My other social media channels:Subscribe to my main channel "Ryan Pineda" https://www.youtube.com/c/ryanpinedaSubscribe to my real estate only channel "Future Flipper" https://www.youtube.com/c/futureflipper1Follow me on Social Media: https://www.instagram.com/ryanpinedashowhttps://www.tiktok.com/@ryanpinedahttps://www.twitter.com/ryanpinedashow______________________________________________________Bridger Pennington grew up in Utah in an average household and was very ambitious. He started SIX different businesses his freshman year of college! He started a Chinese tutoring company, built websites for companies, and wholesaled houses. His dad set him up with a mentor to help guide him to his career in funds. His dad and the mentor were business partners in funds. Bridger was taught all about funds by his dad.  He and his dad started creating a fund when he was only 22 years old!  Bridger was tasked to gather investors and started by recruiting his dad! While his dad believed in the project, he did not end up investing in the fund. He wanted to teach Bridger how he needed to be able to get investors by himself without the crutch of his dad. With their first fund, they gave their investors a 64% return! Currently Bridger is launching a crypto fund. Bridger Pennington explains the difference between 506B and 506C funds. Funds don't file for exemptions like public companies. Regulations for funds are under Regulation D. In section 506, there are two additional categories - B and C. Most private money in raised through section 506B. This section is so popular because unlimited amounts of money can be raised through 35 non-accredited investors at a time, and an unlimited amount of accredited investors. A caveat of this section is that it cannot be publicly advertised! Section 506C is similar, but can be advertised and only accepts accredited investors. 

On today's podcast I had Bridger Pennington on. Bridger is the fund expert! This guy has trained students all over the country on how to start funds. We talked about all the differences of the various funds, wether it's private equity, hedge funds, real estate funds, 506B, and 506C. If you've ever wondered what all these terms mean, we go in-depth on it in this podcast! We also talk about conspiracy theories of how Blackstone and BlackRock operate, and why the fed is actually buying equities, like Google and houses. Why are they doing those things? We also talk about where interest rates are going, inflation, and other different topics you will be interested in! Then we go into crypto, NFT's, what it's going to look like in the Metaverse as finds gain notoriety and as  people raise funds to do things! It is a really good podcast and is one of my favorites that I've done!Follow Bridger on social media! Youtube -  @Bridger Pennington  Instagram - @bridger_penningtonBridger's Free Course - https://www.investmentfundsecrets.comJoin the Wealthy Way today and get access to my free course, planner, and discord community! https://wealthyway.com______________________________________________________Here's how my businesses can help you:For a free consultation with my team go to https://RyanPineda.comWant to be coached by me on real estate investing? Apply at https://futureflipper.comLet my company make you passive income through E-commerce Automation! Watch the case study at http://lunarecom.comJoin my free coaching program for real estate agents! https://wealthyagent.io/Need Tax and Accounting help? Contact my CPA Firm! https://TrueBooksCPA.com/You can invest in my real estate deals! Go to https://pinedacapital.com______________________________________________________My other social media channels:Subscribe to my main channel "Ryan Pineda" https://www.youtube.com/c/ryanpinedaSubscribe to my real estate only channel "Future Flipper" https://www.youtube.com/c/futureflipper1Follow me on Social Media: https://www.instagram.com/ryanpinedashowhttps://www.tiktok.com/@ryanpinedahttps://www.twitter.com/ryanpinedashow______________________________________________________Creating a fund can be a lengthy and intimidating process, so Bridger and I aim to make them seem a lot better through this podcast episode!Bridger Pennington grew up in Utah in an average household and was very ambitious. He started SIX different businesses his freshman year of college! He started a Chinese tutoring company, built websites for companies, and wholesaled houses. His dad set him up with a mentor to help guide him to his career in funds. His dad and the mentor were business partners in funds. Bridger was taught all about funds by his dad.  He and his dad started creating a fund when he was only 22 years old!  Bridger was tasked to gather investors and started by recruiting his dad!Bridger Pennington explains the difference between 506B and 506C funds. Funds don't file for exemptions like public companies. Regulations for funds are under Regulation D. In section 506, there are two additional categories - B and C. Most private money in raised through section 506B. This section is so popular because unlimited amounts of money can be raised through 35 non-accredited investors at a time, and an unlimited amount of accredited investors. A caveat of this section is that it cannot be publicly advertised! Section 506C is similar, but can be advertised and only accepts accredited investors.