Pros/Cons of Unanimous Vote in Group Investments

[Aaron M. VanVoorhies]

Hi everyone! Myself and 5 other friends are pooling some extra cash to start a real estate investment LLC. We were discussing the pros and cons of unanimous voting vs. a majority 4 out of 6 vote. One solid argument was that we didn't want to give one person power to essentially hold back 5 people voting yes on something in the unanimous vote scenario. Then we kicked around the idea of unanimous only on certain decisions like buying or selling a property, but eventually thought it might be best to leave larger scale decisions to a 5 out of 6 vote. Ultimately, we didn't decide on anything (couldn't get the votes), so we figured we'd take to BiggerPockets and see what some past LLCs or small investment groups may have done that worked out. Hope to get some feedback from the great BP community! Thanks!