How to Reply to Investor DMs and Comments During a Real Estate Raise
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When a follower asks "how do I invest?" in a comment or a DM, the safest reply depends on your exemption and on whether you already know the person. In a public comment under Rule 506(b), say you cannot discuss an offering there and point to a newsletter or waitlist. In a Rule 506(c) raise, you can answer, but link to the deal page, make no promises and verify the person as accredited before accepting money. A DM to someone you already have a substantive relationship with can go further. Keep a log of each conversation either way.
What should you say in a public comment?
Under Rule 506(b), do not discuss the live offering in public. Rule 502(c) bars general solicitation, and a detailed reply in a comment thread is visible to anyone (17 CFR 230.502). Use a short, polite reply:
"Thanks for asking. I can't talk about any offering in public. I share how deals work on my newsletter, and the link is in my bio."
Under Rule 506(c), you may discuss the deal, but statements must be accurate and balanced (17 CFR 240.10b-5):
"The deal page has the terms, the risks and who can invest. Only accredited investors can invest, and we verify that before anyone commits. Please read it all before deciding."
What should you say in a DM?
It depends on the person:
| Who wrote | Under 506(b) | Under 506(c) |
|---|---|---|
| Someone you know well, a friend or past colleague | You may share details, if you have a pre-existing, substantive relationship | You may share details |
| A follower you have not met | Keep it general and point to your list | You may point to the deal page |
| A stranger who messaged first | Keep it general; a first message does not create a relationship | You may point to the deal page |
Example for a follower you do not know, under 506(b):
"Thanks for reaching out. I'm not able to discuss an offering by message with someone I haven't gotten to know. If you'd like to hear how I think about deals, my newsletter is the best place to start."
Example for 506(c):
"Glad you're interested. Here is the deal page. It lists the terms and the risks, and the accreditation check we run before anyone invests. Happy to answer questions after you've read it."
What should you never say?
- A return figure, a target as if it were certain, or "you can't lose".
- "Only a few spots left" or any pressure to decide fast.
- A different story than the documents tell. The documents control.
- That you are a financial adviser, or that an investor is protected by anyone other than what the documents state.
How should you handle people who are not accredited?
Under a 506(c) raise, a buyer who is not accredited cannot buy. Say so kindly and point them to education. Under 506(b), there are limited paths for a few purchasers who are not accredited, with extra disclosure, and only if you reached them without general solicitation. See non-accredited followers: your options.
What should you record?
Keep a simple log for each person who asks about the deal: name, date, where you first met, what they asked, what you said and what documents you sent. For 506(b), it supports your reasonable belief that you had a substantive relationship before you offered the deal. See Rule 152 and reasonable belief and the substantive relationship test.
Our take
Replies are where good sponsors get into trouble, because it feels rude to say "I can't talk about that". Write three canned replies in advance (public comment, DM to a stranger, DM to a friend), use them every time and move real conversations to a call with people you know or to a deal page with full documents.
Trade-offs and who this is not for
- Canned replies can feel cold. Add warmth, not details.
- Not a way to avoid answering. If you cannot answer in public, offer a path that is allowed.
- Common mistake: answering one person with a better deal than the documents show. Selective disclosure is a misleading statement risk.
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 replies can point to a sponsor page for background and a deal page for the full terms, so every person reads the same documents. Flat fees, never a percentage of the raise (see pricing). Create your free sponsor page.
FAQ
How do I respond when someone comments "how do I invest?"
Under 506(b), say you cannot discuss an offering in public and offer your newsletter. Under 506(c), point to the deal page and the accreditation requirement.
Can I DM my deal to followers?
Under 506(b), only to people you already have a substantive relationship with. Under 506(c), you can, if every investor is verified.
Should I answer return questions?
Do not promise or guess returns. Point to the documents and their assumptions.
Do I need to keep my DMs?
A log of who you spoke to and what you said is good practice and helps you show a reasonable belief later.
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.