First Call With a Potential Investor: A Sponsor's Script and Questions
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A first call with a potential investor is for learning about them and explaining how your deals work. It is not for closing. A good call leaves the person knowing what you do, what the process looks like and what to read next, and leaves you knowing whether they might be a fit. Below is an outline you can adapt. Talk to your own attorney about what you may say in your exemption, because the rules differ between Rule 506(b) and Rule 506(c).
How should you open the call?
Thank them, say how you know each other, and set the length: "I have 20 minutes. I would like to hear what you are looking for, then explain how I work, and then tell you what happens next." This keeps the call from drifting.
What should you ask?
- What are you hoping real estate does for your portfolio?
- Have you invested in a syndication before? What did you like or not like?
- How do you feel about money being tied up for several years? See lock-up and liquidity.
- Roughly what range would you be comfortable with in one deal? See minimum investment amounts.
- Would you invest personally, through an entity or through a retirement account?
- Do you expect to qualify as an accredited investor? You do not need documents on the first call. See accredited investor definition.
Write the answers down. They tell you what to send next and whether to follow up at all.
What should you explain?
- Who you are and your actual experience, with no stretching. See sponsor track record.
- What a syndication is, in a sentence. See what is multifamily syndication.
- How investors are paid and what can go wrong. See syndication risks.
- The steps: documents, accredited confirmation, a signed subscription, a wire to escrow, closing and quarterly updates.
- Fees: what the sponsor earns and when. See how sponsors get paid.
What should you avoid saying?
Avoid "guaranteed", "can't lose", "safe" and any promise of a return or a date. Do not share confidential numbers outside the documents. Do not pressure anyone. See misleading statements under Rule 10b-5 for why untrue or misleading statements create liability.
How should you end?
Offer one next step: "I will email you a summary and a link to the deal materials. If it looks like a fit, the next step is to sign up, confirm your accredited status and read the documents." Do not ask for money on the call.
What goes in the follow-up?
Within a day, send the same points in writing: what you discussed, the link, the deadline if there is one and how to reach you. Keep a record of the call and the date. See how to follow up with investors and real estate investor CRM.
On DoorRaise, the deal page holds the offering information, accredited verification happens for every investor in 506(b) and 506(c) raises, and funds go by wire to escrow at Enterprise Bank & Trust. The cost to the sponsor is $1,500 to set up and $5,000 a year from closing.
FAQ
Can I talk about a live deal with a stranger?
Under Rule 506(b), generally not without a prior relationship. Under Rule 506(c), you can talk about it if everyone who buys is verified. Ask your attorney.
How long should a first call be?
Twenty to thirty minutes is enough.
Should I record the call?
Only with consent where the law requires it, and ask your attorney.
Sources
This article is general information as of November 2026, not legal, tax or investment advice. Talk to your own attorney. Every investment can lose money. DoorRaise is not a law firm, broker-dealer, investment adviser or funding portal.