You can’t raise capital without the right legal docs, here’s what actually matters 📄📄

What kind of legal docs do you need to go out and raise money? Now, when you're raising a fund or syndication, the 2 main documents that you'll need is most likely a PPM and an LPA. PPM stands for Private Placement Memorandum. LPA stands for Limited Partnership Agreement. We lovingly call these 2 the Bible. Okay, they're the Bible because they're all the bylaws and covenants of your fund, how you're going to raise capital, the whole 9 yards. Now, traditionally, these documents will run you anywhere from $15,000 all the way up to $200,000. Depending on the fund size and complexity of what you're doing. Now, a tip on how I actually get these costs way lower for my funds is because lawyers are billed by the hour, and if you don't know what you're talking about when you walk in, they're going to bill you $15,000 to $200,000 to set one of these up. For me though, I know funds very well, so I walk in, I say, hey, I want XYZ with a drink and a side of fries, and my fund docs are anywhere from usually $5,000 to maybe $12,000 to set up.