All Forum Posts by: Scott Jordan

I'm in the process of setting up an LLC for investment purposes and I wanted to know if there are any standards for prioritizing the distribution of profits? Is it usually set up so that the more you invest then that member would get priority in the profit distribution? Is there a standard structure for the managing member and other investors in the group? I would be the managing member but would not be the main investor in terms of financial contribution to the investment. Any insight would be so helpful. Thanks!

@Steve DellaPelle Sounds like you got everything  you needed from all the other responses but I would like to add one bit of perspective as well.  If you ever have this situation come up in a multi-family property you will want to make sure you make everyone in the property go through the same application process.  From a Fair housing perspective you protect yourself and their neighbors by running a background check on all of your tenants no matter their financial responsibilities as a tenant.  It allows you to stay impartial by requesting the same info from everyone and all of your due diligence as a landlord is taken care of.  Happy landlording!

I am looking at a 6 unit multi-family property in my area in Orange County California.  I am looking to partner up with 2 other investors to make the deal happen.  This would  be a syndicated deal correct?  Is all of the legal paperwork necessary? Is there another way to make it happen?  I know both of the investors well.  Any thoughts or insights would be so helpful.  Thanks.