Multi-family, so apartment complexes. The deals are for tens of millions of dollars, and you can usually join in for as little as 75K.
But you either need to be an accredited investor, or know one of the managers of the deal before the deal is set and they let you join. They are typically allowed to bring in a certain percentage of the deal from non-accredited investors that they know.
What's nice is once you go through a full deal cycle usually 5-6 years, and they sell, you become an accredited investor for having gone through that and that makes it much easier to find and join another deal without having to know the managing partners personally beforehand.
Like one of the deals I am in is primarily managed by this guy. And he has a very large personal stake of several million.
He's got way more money on the line than me in the deal, and so he cares very much about making the property successful for himself and selling at the right time etc and I am really just along for the ride essentially.
Here is one of the other main managing partners of another deal I am invested with.
