b'How to Legally Raise Private MoneyInstead, send the investment summary to investors one at a time, along with a personal message to each one. Follow-up is KeyFollow up with a phone call in a couple of days to see if the investor had a chance to review it and if there are any questions. This is also your opportunity to poll your investors to see if this opportunity meets their investment goals or if there is some common objection that could cause you to modify your business model.PROPERLY HANDLE INVESTOR FUNDSYour options for collecting investor funds are to set up a bank account for your company or to use a securities escrow account. If you are buying real estate, you should never allow investor funds to be placed in a prop-erty escrow account whose release requires the signature of a third party, such as a seller or escrow agent. The time to do so is when the funds are specifically required to close on property. You should wire only the exact funds needed to close from the companys bank account or securities es-crow account to the property escrow account. If you are using a broker-dealer, they will require you to use a securities escrow account where they manage the collected funds. Once the minimum dollar amount has been achieved, the broker-deal-er will release the funds to you. If you dont achieve the minimum dollar amount, the broker-dealer will return all investors funds without deduc-tion. You can set up a securities escrow account on your own that will operate in much the same way. The funds will be held in the account until you raise the minimum dollar amount and then they will be released. This is not the same thing as a property escrow account. Some investors will find comfort in knowing that you dont have access to the funds until you achieve the minimum amount necessary for the company to be success-ful. The fees to set up such accounts are nominal, as little as $1,000 plus wire transfer fees, and can add credibility to you and your offering. 41 41 Syndication Attorneys, PLLC can offer referrals to banks that offer securities es-crow accounts. 136'