Investors want to partner with me, what are my options?

[David Kay]

I sold my house a few months ago and am getting ready to buy my first multi-unit property. I have a high income and can buy my first property myself.

However, I have many friends that are nearing retirement and are looking to partner with me on one or many real estate deals. THEY are approaching ME, wanting to get "in on the action".

With outside investors, I have the ability to buy many properties quickly. They are looking for a reasonable return on their money (6-10%) and want to be silent. I will manage all aspects of the property.

What are my options for structuring a deal? Do you have any examples of where you partnered with someone, formed an LLC, and secured a mortgage under your name? I'm curious to hear what others have done and how the deals worked out.