Syndicated Construction Projects

[Nick Earls]

Does anyone have any advice on syndicating construction projects?  I don't even know if syndication is the right word here, I was introduced to the term through long term investments.

I'm a developer that has used my own money in the past, but have a good amount of people interested in investing in a project with me. Since they wouldn't be doing any work other than giving me their money, I'm not sure how I'd go about structuring the deal. Usually with my other partners, we all work on the development side and so we just own a corresponding percentage of the equity in the LLC based on our initial investment. But if some new people invest and then don't do anything, I feel like I wouldn't want to pay them that way.

Does anyone have any examples of how to structure the payout in this situation?  I was thinking maybe give myself a salary on top of the usual equity based return?