How would I set up RE Syndication?
Whats up BP!
So here's the thing, I'm new to RE investing but I know a few people that would be willing to invest with me. I have PML A that has money in the bank to lend to me. I then have PML B with money in a Self-Directed IRA which would like to invest with me as well. Would this by definition mean that it would be a syndication? I'm now at a point as to "how do I get this done correctly?" Do they lend to my LLC? How would I go about with Promissory Notes and Deeds of Trust? Does the Title/Deed have to be in the name of the PMLs? Can it be under the LLC?
I was thinking to keep everything under the LLC as an additional exit strategy for my Fix/flips. If, for some reason, we don't sell in the specified time frame then I would cash-out refi and pay all PMLs with the returns promised.
Any input will be greatly appreciated!