LLC, INC, or syndication

[J. Mitchell Bernier]

I am in the process of business planning and I'm looking at bringing on other investors, to help grow my business. My question is if already own the portfolio of 12 properties do I set up an LLC and detail in the operating agreement ownership structure, do I have to incorporate and sell shares, or do I have to call it a syndication and go through all the legal parameters with the SEC?

Thanks for the help!

[Alina Trigub]

@J. Mitchell Bernier

Your question is purely legal and should be discussed with an attorney. As @Taylor L. said, ideally with a securities attorney. A general rule of thumb is: whenever you have at least one passive investor, you're in the business of selling a security.