b'TABLE OF CONTENTSSECTION1INTRODUCTIONTOSYNDICATESANDFUNDS.1C HAPTER 1W HATISA R EAL E STATE S YNDICATEOR F UND ?.2C HAPTER 2W HAT C AN Y OU B UY W ITHA S YNDICATEOR F UND ?.9C HAPTER 3W HY S YNDICATEOR C REATEA F UND ?14C HAPTER 4R EAL E STATE A TTORNEYV .S ECURITIES A TTORNEY .20SECTION2HOWTOCOMPLYWITHSECURITIESLAWS.26C HAPTER 5D UTIES O WEDTO I NVESTORS 27C HAPTER 6J OINT V ENTURESOR S ECURITIES :W HATSTHE D IFFERENCE ?.31C HAPTER 7O VERVIEWOF S ECURITIES E XEMPTIONS 38C HAPTER 8F EDERAL S ECURITIES E XEMPTIONS Y OU N EEDTO K NOW 50C HAPTER 9R EGULATION S:T HE E XEMPTIONFOR N ON -U.S.I NVESTORS 71.C HAPTER 10R EQUIRED F EDERALAND S TATE S ECURITIES N OTICE F ILINGS .82C HAPTER 11W HATSINA S ECURITIES O FFERING ?92C HAPTER 12T HE P ERILSOF D RAFTING Y OUR O WN O FFERING D OCUMENTS 99SECTION3WHATOFFERINGMODELWILLYOUUSE?.106C HAPTER 13S PECIFIED O FFERINGSOR S YNDICATES .107.C HAPTER 14B LIND P OOL F UNDS 119C HAPTER 15F UNDSOF F UNDS 132C HAPTER 16H OWTO S TARTAN I NVESTMENT C LUB 148C HAPTER 17I S Y OUR O FFERING V IABLE ?153SECTION4WHATCORPORATESTRUCTUREWILLYOUUSE?.160vi'