b'Any trust, with total assets in excess of $5 million, not formed specifically to purchase the subject securities, whose purchase is directed by a sophisticated person, OR Most entities with total investments in excess of $5 million, not formed to specifically purchase the subject securities, OR Any entity in which all of the equity owners are accredited investors. There are other definitions of an accredited investor that you can look up online at www.SEC.gov, but they are infrequently used by our clients, so we have not included those definitions here.How Do You Calculate Net Worth?The SEC has an excellent reference describing how to calculate net worth. See the SEC publication at our Book Bonus page to download your copy:https://RaiseCapitalForRealEstate.com/BookBonusSophisticated Investors In this context, the term sophisticated investor means an investor who either alone or together with his, her or its purchaser representative, has sufficient knowledge and experience with financial and business matters thattheinvestorcanevaluatetherisksandmeritsofacontemplated investment.Technically, this term applies to both accredited and non-accredited investors who wish to invest in an exempt securities offering. However, eveninSECpublications,thetermismorefrequentlyappliedtonon-45'