Investor Email Sequence for a Real Estate Raise: What to Send Before, During and After
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A raise email sequence has three phases. Before the offering, you send education and an interest notice. During the offering, you send the deal page, a call invitation, a documents-ready note, a reminder before the deadline and the funding steps. After closing, you send a confirmation and regular updates. The middle phase is the regulated one: under Rule 506(b) it may go only to people you already have a substantive relationship with, and under Rule 506(c) it may reach a wider list if every investor is accredited and verified.
This post is part of our guide to turning followers into investors and sits under real estate syndication. Rules are as of November 2026.
Which emails can you send under 506(b) and 506(c)?
It depends on who is on the list. The table shows the line you should not cross.
| Email type | Under 506(b) | Under 506(c) |
|---|---|---|
| Education about how syndications work, no live deal | Fine to anyone | Fine to anyone |
| Notice that a deal is coming, with its terms | Only to people with a pre-existing, substantive relationship | Allowed; every investor must still be accredited and verified |
| Deal page, call invitation, documents | Only to those same people | Allowed |
| Wire instructions | Only to a signed investor, after escrow is open | Only to a signed, verified investor, after escrow is open |
| Closing confirmation and updates | To your investors | To your investors |
Rule 502(c) bars general solicitation in a 506(b) offering (17 CFR 230.502). The SEC treats the question as fact-specific, and our post on followers and the substantive relationship test explains how to think about it.
What do you send before the offering?
Before the offering, send education and nothing that offers a specific deal. A good sequence has three emails.
- Welcome: who you are, what you have done and what the list is for.
- How a deal works: a plain explanation of structure, fees and risk, with a link to a guide (what is a syndication).
- Interest notice: that you plan to offer a deal to investors who qualify, and a way to say they want to hear more.
Be careful with the third email. A generic "tell me if you are interested" message differs from describing a live offering. If you plan to gauge interest before you pick an exemption, read testing the waters under Rule 241 first, and see building an investor waitlist.
What do you send during the offering?
During the offering, send five emails, each with one job and a link to the deal page.
- The deal is open. Property, plan, who can invest, and the link.
- Call invitation. Date, how to join and what will be covered. See how to run the call.
- Documents are ready. The subscription agreement, operating agreement and offering memorandum, and what to do first.
- Deadline reminder. The real date and the steps still open. State it as a fact, not as pressure.
- Funding steps. For a signed investor only: how to wire, where, by when, and how to confirm instructions.
Sample: the deal is open (illustrative template)
Use your own facts. Names and details are placeholders.
Subject: A [number]-unit apartment building in [city]: deal page and documents
Hi [First name],
I am the sponsor of an offering to buy a [number]-unit apartment building in [city]. It is open to accredited investors only, and each investor is verified before funds are accepted.
The deal page has the business plan, the fees I and others earn, the risks and the documents: [link]. Please read the risk section first. The deal can lose money.
I will answer questions on a live call on [date]. You can register on the deal page.
[Name], sponsor
The email has no return figure, no pressure and no claim the documents do not support.
Sample: funding steps (illustrative template)
Subject: Your signed documents and how to fund
Hi [First name],
Thank you for signing. To invest, send your wire to the escrow account in the deal's name, using the instructions in your investor portal. Funds are held in escrow until closing.
Wire fraud is real. We will never change instructions by email. If you get any message that does, call me at [number] before you send money.
[Name]
Investors fund by wire, to escrow, after they sign. Our posts on how investors commit and wire and wire fraud cover the steps.
What do you send after the offering?
After the offering, send a closing confirmation and then regular updates. The first email after closing is the one investors remember, so make it clear.
- Closing confirmation: the closing date, the property, the amount raised, what happens next and when the first update will arrive.
- Quarterly update: occupancy, income, expenses, capital work and the plan. See investor updates and the quarterly report template.
- Tax forms: a note on when K-1s are expected (K-1 timing).
- Bad news, early: if the deal underperforms, tell investors promptly and plainly.
Do not post or email about the closed deal in a way that markets your next one. Our post on posting about a deal after closing explains the care to take.
What should every email avoid?
- A promised or guaranteed return, or "you can't lose".
- False scarcity or deadlines you do not mean.
- A different story from the documents. The documents control.
- Paying anyone for bringing in investors. That raises broker-dealer questions (paying capital raisers).
- Treating a reply as a commitment. A signed subscription is the commitment (soft commitments vs. signed subscriptions).
Our take
Our take: write the deal page first and the emails second. When the page is done, each email becomes a short note that links to the facts, and there is much less room to say something the documents do not support.
We also think a short log is worth keeping: who got which email, when, and how you know them. Under 506(b) it is your evidence of a reasonable belief that the relationship came first.
Trade-offs and who this is not for
- Not a marketing automation guide. It tells you what to send and to whom, not which tool to use.
- Not for 506(b) deals with a purchased list. Buying a list of strangers and emailing the live offering is general solicitation.
- Common mistake: one list for everything. Keep education subscribers and offering recipients separate.
How DoorRaise fits in
DoorRaise helps sponsors raise equity for apartment buildings with 5+ units from friends and followers who already trust them, under Rule 506(b) or 506(c). We are software, legal document preparation, escrow coordination and verification services. We are not a law firm, broker-dealer, investment adviser, funding portal, bank or escrow agent, and we do not hold investor money: investors wire their money to escrow at Enterprise Bank & Trust, in the deal's name.
Your emails can link to one deal page with the terms, fees, risks and documents, so every person reads the same facts. Flat fees, never a percentage of the raise (see pricing). Create your free sponsor page.
FAQ
How many emails should a raise sequence have?
There is no required number. A working sequence has about three before the offering, five during it and a closing confirmation plus regular updates after.
Can I email my whole list about a live deal?
Under 506(c), yes, if every investor is accredited and verified. Under 506(b), only to people you have a pre-existing, substantive relationship with.
Can I put target returns in an email?
Avoid it. If you must mention a projection, put it on the deal page with its assumptions and risks, and never present it as a promise.
When do I send wire instructions?
Only to an investor who has signed, after escrow is open, using the official instructions. Tell them to confirm any change by phone.
Do I need to keep copies of my emails?
Yes. Keep them with your offering records.
Sources
This article is general information, not legal, tax or investment advice. Talk to a securities attorney before you market an offering. DoorRaise is not a law firm, broker-dealer, investment adviser or funding portal.