How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask WiseOwl58 Your Own Question
WiseOwl58
WiseOwl58, Lawyer
Category: Real Estate Law
Satisfied Customers: 3742
Experience:  Experienced real estate lawyer and real estate broker.
62735101
Type Your Real Estate Law Question Here...
WiseOwl58 is online now
A new question is answered every 9 seconds

I want to purchase property (SFH's) with investors money. I

Customer Question

I want to purchase property (SFH's) with investors money. I have created an llc but I dont want the investors to have any decession making powers, only myself.
Should I use only the llc and how do I structure it?
Would a Fractional trust be better??? or use Both ???
I'm looking at receiving $150,000+ in $25k, $30k, 50k,etc with 4-6 investors.
Also, the reason other than liability reasons is im more concerned about the SEC...
Submitted: 2 years ago.
Category: Real Estate Law
Customer: replied 2 years ago.
If I need more clarification on your reply, am I able to go further into it with you? By way of chat, phone, or by this method im using now?
Expert:  WiseOwl58 replied 2 years ago.

You should use an LLC, but give yourself 90% voting power and the other 10% split among all of the investors. You do that by assigning the voting rights in the operating agreement of the LLC. You can also do a limited partnership, in which you are the general partner which has all decision making authority, but that is more complex to set up.

Please rate the answer 4 or 5 and close out the question. Good luck to you. I wish you all the best.