In today’s highlight episode, we feature Nic McGrue, the founder of Polymath Legal PC, a firm specializing in helping real estate investors lawfully raise capital. Nick shared invaluable insights into the importance of having a legal expert on your team, especially when navigating the complex and nuanced laws and regulations of raising capital for real estate projects.
Nic’s firm focuses on securities, mainly exempt securities, and assists clients in various industries, including multifamily, fix and flip funds, and self-storage, among others. With a decade of experience in syndication, Nic’s practice is heavily centered on this area, making up about 70% of their work.
During our conversation, Nic highlighted the recent emphasis by the SEC on disclosures, particularly regarding private funds. He explained that confidential side letters and special terms offered to big investors must now be transparent to all members. This change aims to ensure that all investors are on an equal footing, regardless of the amount they invest.
Nic also touched on the common issue of finder’s fees and the legalities surrounding them. He clarified that paying for introductions is permissible, but compensating based on the amount of capital raised requires a broker-dealer license. He suggested creative ways to work within the legal framework, such as paying for a time period rather than per investor introduction.
Click the links below to listen to the full episodes:
https://lifebridgecapital.com/2023/11/01/disclosure-compliance-and-communication-insights-nic-mcgrue/
https://lifebridgecapital.com/2023/10/31/mastering-sec-rules-for-multi-family-investments-nic-mcgrue/
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About Nic McGrue
Nic McGrue, an accomplished lawyer at Polymath Legal, assists developers, syndicators, investors, and entrepreneurs. He guides them in syndication, business formation, real estate, and transactions, with expertise in SEC regulations and multifamily investment issues. Nic’s impressive track record includes creating successful syndications, helping clients raise over $2 billion in assets. Besides his legal career, Nic is a tenured business law professor, educating students from undergraduates to law school. With a California real estate broker’s license and Forbes contributions, Nic McGrue is a prominent figure, recognized for his extensive knowledge and experience.
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