Well to do friends want to give me money to invest in RE

[Judd Campbell]

So I have been doing well with buy and hold properties and I talk to my friends about it. I have even debated selling a car to purchase another place or two. Friends from the automotive world have expressed an interest in being a silent partner and splitting the profit with me on my RE investing. They are talking 50-100k +

I have the ability to self fund a few more places but this could grow very quickly with an influx of money. Should I be looking at apartment buildings? I work full time and it is not in RE.

I would love to have my wife stay at home with the kids and manage the rental property but I fear all that would happen is she would call me and tell me to go to XYZ property to check on something. ( no way she is going to do showings, or repairs with two kids under 3 at home.)

How do you guys suggest I even approach this partnership? would it be an LLC? or do you suggest I just ask them to be hard money lenders ?

[Nikki DeLellis]

You have to do it. There is a great book you should read that could really help clear up a lot of questions you may have about pooling money together to buy deals (otherwise known as syndicating). It's called The Inside Game to Syndication Wealth. You can google it...it's being offered as a download for free Keep us posted on what happens.