b'are not accredited, they may be prohibitedby securities laws designed to protect them - from investing in your private securities offering. You can help make them sophisticated by embarking on a formal training program that teaches them about the types of properties your offering will invest in, and how group investments work, and how they can go wrong.Toincludenon-accredited,unsophisticatedinvestors,youwouldbe limited to doing joint ventures or the investment club model discussed in earlier chapters.Theonlyotherwaytoadmitunsophisticatedinvestorsistodoa registeredpublicofferingthatrequirespre-approvalfromsecurities regulators. Until you have a long, proven track record of successful, similar projects, this will be an expensive, and speculative venture, which could easily fail. A public offering requires an intense marketing strategy. You Are Spending Your Time Chasing Single-Check Writers Instead of Developing Relationships With $50k-$100k Investors. Family offices, private equity funds and high net worth investors will only invest with you after you have a proven track record with similar investments. Your family and friends will invest in you early on, before you have a track record, because they believe in you. They are the people who can help you build a track recordso that later on, you can successfully consider creating a fund or joint venturing with family offices, private equity funds or high net worth investors. 156'