All Forum Posts by: Tanner Plato

What are some common investment devices for rental properties?

My understanding is that if you issue a promissory note longer than about 7-8 months it's considered a security, something I don't want. However issuing a promissory note at 10% for 7-8 months sounds like a lot of money to pay in that amount of time.

These would be friends and family lenders so I know that that has some sectionsb in the securities laws but my understanding of securities laws isn't quite up to speed so please fill in the gaps where necessary thanks.

What are some common investment devices for rental properties?

My understanding is that if you issue a promissory note longer than about 7-8 months it's considered a security, something I don't want. However issuing a promissory note at 10% for 7-8 months sounds like a lot of money to pay in that amount of time.

These would be friends and family lenders so I know that that has some sectionsb in the securities laws but my understanding of securities laws isn't quite up to speed so please fill in the gaps where necessary thanks.

I am torn between forming an LLC or not. I understand the difference of having one or not but the question is, can I still have partners on a deal who I can go in with, neither of us being affiliated with an investment LLC? What about private money lenders?

I am definitely not ready but that is why I am here. But I have found something I am passionate about and am willing to learn. Thank you for your comment I will be researching the laws. Quick books sounds like the perfect way to manage it as well!

I'm new to the investor world and am in the process of organizing an LLC in the near future to handle investor capital and manage the funds.

My biggest concern is maintaining a transparent money management system so the investors can see where the money goes and not seem shady. With that mindset I'd like to do it mostly on my own without having to have a cpa or bookkeeper set it up and monitor it, as I will be a bit strapped for cash in the beginning.

Are there apps or systems like this so investors can look at their investments? Any advice or personal experience would be much appreciated.