How did you structure your syndication?

[Travis Doyle]

Hey guys,

Just wanted to hear what everyone has done with their deals. My partner is an expert in RE, and I want to help grow his business. I wanted to raise some money through friends and family. I am looking to raise 500k in our first fund, and wanted advice on how to structure the operating agreement. I really, really want to keep things easy, with no preferred returns or anything like that. I feel like simpler is better at this point. What have you guys had success with? I saw an article about a 95/5 split, where the investors are entitled to 95% of distributable cash, and the sponsor gets 5%.

Please share structures you have had success with for friends and family! If you have a few minutes to share wisdom, don't hesitate to PM me!

Thanks!