If you have a Fund of Fund you are BUYING Securities may Need a Securities License …

What I’m seeing is a lot of folks completely miss that when you do this, there’s a very subtle difference between this model and the prior model. In this model, you’re raising capital to go acquire real estate. No big deal. Anybody can do that. You don’t need anything special. You just got to know what you’re doing. But there’s no licensing required. You don’t have to have a real estate license or a brokerage or anything like that. You can still buy real estate. In this one, you’re buying shares in somebody else’s company, membership units or maybe LP units. But you’re buying an interest in a company. You’re buying securities.

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