Real Estate Pool (Syndicate)
I along with several friends want to pool our monies together to buy 1-3 duplexes. The other two parties will only be investors, while I'm the active party finding the property, overseeing any renovations needed, hiring/overseeing the property manager, etc.
I've read prior posts that someone in my capacity (b/c this is a significant time commitment), may want to structure the deal so I'm compensated (and the other two investors are agreeable with this)
One post mentioned a finders fee of anywhere from 1-3% of the property value, then an ongoing 1% of gross rents plus some sort of cut of the end profit when we sell, later down the road.
curious to hear how others setup their own pool before like this and what was their fee structure. also - we'll be using an LLC, but should I as the managing person setup my own LLC and officially have that as the Managing Entity?
any color/insights would be appreciated. thanks!