Most real estate operators who make private placement sales of their LLC interests or corporate shares use one or more exemptions from registration requirements. Registration, often done as a part of going public, is very time consuming and expensive. Use of these exemptions still requires completing and filing appropriate forms, but they are far, far simpler than registration.

What program or type of promotion can be done depends on which exemption you want to use, and that decision depends on how much money is being raised, the number of investors being sought, and whether the offering will be in more than one state.