HOW TO INVEST WITH 10 FAMILY MEMBERS IN REAL ESTATE?

[Joseph Guidry]

Hello all,

I will try to keep this short and sweet, i have many questions but one main concern, first off a little background about me. i live in pittsburgh, pa my wife and kids lived in our first house for 4 years. we just moved out i have never done a real estate deal before as far as investing but have been through the buy / sell side of a single family house. we sold our house to get some funds to start in real estate investing but mainly to payoff our bad debts. Now i have 10 family members who are all contributing to investing in real estate with us, however i am going to keep that seperate from me and my wifes real estate business. the family decided to call the gruop FAMILY INVESTMENT FUND and we are not sure how to setup the entity? do we all need to be part owners and start a 10 person LLC. how do we get financing from a bank with 10 people? i have alot of questions but my main concern is how to set the investment group? thank you all who will give us some ideas or direction.