I think you should be careful when you advertise online especially if people are going to be putting their money into an LLC or Partnership. You don't want to fall into the trap of selling unregistered securities, and at the same time jeopardizing your Reg D safeharbor because you did a general solicitation, i.e advertising to the world on Loopnet.
The same would go for advertisements in the Wall Street Journal, etc. Click on picture for a bigger image.
I have not investigated how these entrepreneurs are structuring their deals, and I'm not passing judgment on any of them. It just seems that it is fairly common to see these types of solicitations. I don't think you should assume that the right way to find capital for your deal is by asking for it in the newspaper or online. It may not be.
Of course securities laws are nuanced and I'm not an attorney, so go get some expert advice if you need it.
If I get his permission, I'll post the contact info of the securities attorney I like here in Sacramento.
If you need advice on securities law, I would recommend Ian Carter at Pillsbury Winthrop Shaw Pittman LLP. You can email him at icarter AT pillsburylaw DOT com.