JV with multiple partners (no syndication)

[Tonya Weathers]

Hi BPers!

I'm looking to do a JV with 3 other people. I will be contributing most of the work and capital. $100k (me); $20k (from each of the other 3 Members) = $160k total investment.

I've never done a JV and need help with structuring the splits. I have most of the other things hashed out except the splits. I'm considering splitting based on contribution (62.5/12.5/12.5/12.5).

Ex: If monthly rents after expenses = $12,000, then the splits would be $7,5000/$1,500/$1,500/$1,500. After refi, the $ would be split based on % again, same with sale.

Does this sound right? I'm having a hard time with this one. Any help would be appreciated!