How do I structure a syndication business legally? Is it an individual LLC for each property (but what if we end up with 100?) or a series LLC (Delaware)? I live in Florida. I'm hearing opposing advice and not sure where to go.

Also, anyone in Southwest Florida have a syndication lawyer recommendation?

Thanks!

Hi Kelsey,

I have a great RE attorney in Cape Coral who can answer your questions. PM me and I'll give you her contact info.

Regards,

It depends how you set things up. If you set up a fund that will invest in multiple properties, then you could have a single entity or multiple entities that are owned by a parent entity. If you are doing a raise for each property (this is the most common), then you will likely have different investors in each investment and therefore need different entities for each property. 

I am not an attorney or accountant, just answering based on my experience. 

@RomyJurado is the best

https://www.biggerpockets.com/users/BusinessLawyer

@Kelsey Monell

Sounds to me that this is your first one. Highly recommend to NOT DIY it - not just the legal side, but everything including due diligence, funding, acquisition and operation.

Peruse the Multi-family forum here on BP, buy some books, and most importantly - get a mentor or a partner.
https://www.biggerpockets.com/forums/432-multi-family-and-apartment-investing

You will be risking the money belonging to other people, and it's a huge responsibility.

Series LLCs have potential issues with integration and with perceived problems with franchise taxes. I'd recommend setting up a new LLC for each project to start out with the idea that you're building a brand and will eventually build your own fund. The latter presumes the deals will be largely similar and thus it won't be too hard to disclose around issues or convince investors to give you the latitude to invest the money across a wide range of project types.