How to structure LLC to have friends invest in it

[Sandeep Jain]

Hi Friends Currently I have 2 multifamily properties in Montclair NJ and one of the property is under LLC and I have a business mortgage and business line of credit on it. Instead of paying bank 4.5% for line of credit my friends want to invest in my company and have equity stake in it. If 5 of my friends invest 25K, I could give them 4% equity in the business and share profit accordingly at the end of the year. Also when I sell the property they can have there capital back with the profit I make from todays valuation. Did any one else had a similar situation, who could direct me in right direction. Thanks in advance