Good terms for my investors to buy apartment

[Devin Mann]

im planning to buy an apartment building.

was going to have around 10 investors partner up on a deal for my funding. what are some basic terms to have for my investors and myself? My lawyer said Not to give them a ROI in their "terms". so do i give them part ownership instead?

dont give them voting rights or Do i.

etc.

[Michael Le]

@Devin Mann, that's really something for you to decide how you want to engage these partners. Are they debt partners where they are lending you money for a fixed return? Are they equity partners where they get a piece off the ownership? Are they going to be actively making decisions or doing work? Or are they just providing the money with an expectation of some return and you do all the work? Because all of those things have different structural and legal requirements.

[Jeff Kehl]

@Devin Mann I'd recommend you listen to some podcasts, read some books, go to some conferences on apartment syndication. Look at the post from John Jacobus in this thread:

https://www.biggerpockets.com/forums/432/topics/42...

Also google, old capital, @Michael Blank, joe fairless, brad sumrok and the real estate guys web sites and search syndication. Plenty of good reading there.

[Andrew Campbell]

Read up on the folks mentioned above--lots of great info out there. 

And make sure to get a good attorney.  Once you start raising capital and creating entities, you have to make sure you're abiding by Securities laws and you and your investors are protected (as much as you can be). 

Good luck!