Co-Invest through an LLC with other investors

[Constantinos Zavos]

Hello everyone, 

Ill try to keep this short, I am new to investing in real estate and looking for some insights. I recently went into a 50/50 LLC with a college friend to buy our first property in the college town we attended. That went really well and now we are looking to add 2 more people for a new property. We have some concerns:

1) Should we a new LLC and have our old one hold stake in it?

2) When using other people's money to invest, what is the best way to set up an agreement on a limited budget?

3) What would be the best way to get a mortgage on a new LLC, would our stake by our existing LLC create an issue for financiers?

[Erica Arce]

New LLC is the general consensus.