b'already investing in something tangible, and not just a concept or business plan that might never come to fruition.You might be launching it on a specific day, and you might even offer a bonus to those who invest early. Bonuses could be extra interests for early investors, or a higher preferred return than will be offered to later investors.Consider How You Will Deal With Fund Administration Managing a fund is more complex than managing a specified offering. Yourinvestorswillexpectdetailedfinancialreportsforeachofthe properties and the fund as a whole on a quarterly and annual basis.Aninvestormanagementplatformcanhelpyoucontrol communications and reporting to investors in your fund. Alternatively, you may wish to hire a fund manager.Both can help you keep track of properties, investors, distributions, quarterly and annual financials and status reports, and tax reporting. A fund managerwillcalculateyourdistributionsandcoordinateyourfunds bookkeeping with the CPA who will do your required tax filings. If you are more of a do-it-yourselfer, or have in-house bookkeeping capabilities, you maybebettersuitedforaninvestormanagementplatform.Ifyoulike everything done for you, you may be happier with a fund manager.Caution Regarding Retirement Fund Investors TheEmploymentRetirementSecurityActof1974(ERISA), DepartmentofLaborRegulationsstatethat,unlessexempt,whena retirementplan(whetherself-directedornot)ownstwenty-fivepercent 130'