JV with family

[Edward P.]

I own a few small RE multi family in Los Angeles.   I am currently not liquid in any of the assets due to building ADUs and saving for the rainy day.  

my brother is interested in purchasing homes and wants me to run management as I am doing for my own.  
A management fee charges 5-6% it's really not worth for me to do all of it for the amount.  I don't want to charge more than I should.  What's a fair business practice between family?    

[Jaycee Greene]

Quote from @Edward P.:

I own a few small RE multi family in Los Angeles.   I am currently not liquid in any of the assets due to building ADUs and saving for the rainy day.  

my brother is interested in purchasing homes and wants me to run management as I am doing for my own.  
A management fee charges 5-6% it's really not worth for me to do all of it for the amount.  I don't want to charge more than I should.  What's a fair business practice between family?    

Hey @Edward P.. I often see PM fees in the 8%-10% range for LTRs. For STRs, it's going to be much higher (though there may be PMCs that can opine here). Have you looked into doing a cash out refi for your existing portfolio to give yourself some liquidity?