PPMs That Scare the Sh*t Out of Me (Real Investing Horror Stories)

What should investors actually look for in a Private Placement Memorandum (PPM)? In this episode, Ellis Hammond sits down with Ben Fraser and Bob Fraser to break down real examples of PPMs that raised major red flags — including unlimited sponsor expenses, huge placement fees, and deal structures that shift risk entirely onto investors. They walk through what a private placement memorandum is designed to do, why experienced investors focus more on the risks than the upside, and the specific sections you should read before investing in a private deal. If you invest in real estate syndications, private equity, private credit, or alternative investments , learning how to evaluate a PPM can help you avoid costly mistakes. Have more questions, or want more resources like a tax calculator? Go to ⁠⁠⁠⁠⁠⁠⁠ to learn more about our community. Check out Ben & Bob’s company and invest along at ⁠⁠⁠⁠⁠⁠⁠

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PPMs That Scare the Sh*t Out of Me (Real Investing Horror Stories) is an episode from Invest Like a Billionaire - The alternative investments & strategies billionaires use to grow wealth by Aspen Funds.

This episode is 00:31:34 long.

This episode was published on Mar 17, 2026.

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