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Wednesday, March 1, 2017

Requirements For REC



While the general requirements to become a sponsor vary from platform to platform, one of the most important things REC platforms look for is a track record owning and operating real estate assets.

Many platforms require sponsors to have anywhere from 5-10+ years of experience, and the more successful projects under your belt, the better.

As part of their due diligence, most platforms look for sponsors with no bankruptcies, past foreclosures, criminal activity, good credit, detailed plans with projections, etc.

When it comes to requirements (whether it’s the platform, the SEC, or any other regulations that you need to follow) the best thing to do is make sure you research and know the rules beforehand.

One of the best ways to do this is to connect with portals and other industry professionals.

Generally, they will have a lot of expertise and knowledge in the area and consider it part of their mission to share their wisdom with others.

Even though REC will play a big role in connecting you to new investors, you still need to develop your social networks and bring in some of the capital yourself.

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