How should I structure my new ownership entity w/ my investors?

[Ryan Auger]

Hey all,

I'm looking for some personal advice on how to structure a my deals. I already have the terms agreed upon with my investors, the next question is how I should structure it. My two deals are $1.1 and $1.2M right next to each other and I'm concerned that the huge cost of lawyers to form a syndication could eat into everyone's margins. I'm aware that JV partners are supposed to be somewhat active, but I'm not sure how that would be enforced. I've also met real estate investors who have simply used LLC's and defined the terms in the operating agreement.

What are the pros and cons when considering syndication vs LLC's vs JVs?

Thanks!