Seeking advice on using silent investor funds
Hello all. I am seeking some advice in regards to using capital from friends and family who are interested in investing in my real estate portfolio but do not want to be directly involved in the day to day management of them. My brother and I currently have an LLC and a partnership and have acquired 9 SFH long term rentals in our town. To finance these previous homes we have used a HELOC and LOC from a local bank and used the BRRRR strategy. We are in a situation where we would like to expand into multi's and smaller apartment complexes. We do not have the capital ourselves to do this but we have a few very close friends and relatives who would like to participate in funding such a purchase. What would be the best way to incorporate their investment into our current situation strategically and legally? Thanks for any advice or information.