All Forum Posts by: Jason K.

There has also been a decent amount of 55+ building going up around college towns.  It is attractive in retirement due to the resources, vibrant environment, lower cost access to sports/ theatre, continuing education, etc.  Most universities also allow local seniors to access facilities at a discount or free, and many seniors take on mentor roles in various clubs.  

That being said, smaller single family (ranch - no stairs !) in the neighborhoods WITHOUT frats are good for this demographic attracted to the nicer college towns (flips or rentals could work).  

So, for me, a college town with some current 55+ community developments, AND that has the neighborhoods that restrict animal houses, AND with house types with no stairs = good place to look.

Something else to look out for- some college towns have designated blocks that can legally rent to multiple non related people (some call it the "animal house" law - many NJ shore towns did this as well)  which can technically be considered a boarding house, which requires a license in some states/ towns. 

Be sure to check local regs before buying on the "rent to many kids" math. 

These seems to be a common unanswered topic.  Here is my specific situation:  I have about 20 years of successful investing experience in both flips and buy and hold. As a result, I have many friends/ family/ business contacts that would be willing, and often ask, to get involved.  Many are new to investing so a flat out partnership is not that attractive to me with any 1 of them as I don't really need the money to fund simple deals.

However, I am considering amping up my investing and buying a larger project or several at one time.  Since this requires more money, I have about 10 people committed to put up 100k (1 mil total), to invest in 1 large or several small projects (goal is mostly to build a collection of rental properties).  Myself and 1 other partner would be the managing partners and the rest silent "money" partners, however they want to be in the know and involved, but no real decision making abilities and too many cooks in the kitchen slows things down. 

The question" How do I legally/ financially structure this ? I assume an LLP in the best, but not sure. I know there are more investment focused ways like creating a real estate investment fund.

Also, how are these investors paid ?  Guaranteed annual return and then piece of the returns.  Maybe I just make them all money lenders and pay interest ?  Although, many want to get involved because they want to learn investing, not just invest. 

Clearly my ultimate plan will be to hire an attorney to create this structure, so if anyone know of any that specialize in this (preferably in NY/ NJ/ Phila metro area), let me know.