Investing retirement funds
I have a client interested in investing their retirement funds from a 401k. They want me to invest their money through an LLC. I will consult a lawyer, but before committing time- maybe you guys have some advice. I do not want to be liable if someone sues, so that would be out of the question.
Here's how I think it works: I make an LLC, with just myself as a member, then my clients sign a contract with your LLC -- they don't actually become members. The contract is for each specific deal, and it specifies all the terms. Once the contract is signed, they can send the LLC the money, and then you buy the property on behalf of the LLC.
Advice? Resources I can read? Not even sure what this is normally referred to?