Family Of Twelve
I am look ing to start an investment group with my eleven brother and sisters.
What form of company should we use? Are there any special things we should know?
We are stating small , first in residential then hopefully moving to commercial.
Any input is appreciated.
Brian
P.S. Thanks on the other commercial input!
If you do an LLC or partnership, make sure that you have a professional write up an operating agreement to govern the LLC so that if someone wants out, it will address how to buy them out and how someone else can buy into it, purpose, types of investments, etc.
Thanks all for your input.
We do have a Real estate operating agreement drawn up stating most of the terms.
Do I need anything else?
Brian
Yes, you need an attorney to review and offer suggestions on the agreement. To complex an area to draft yourself with 11 other family members involved. You could present your starting efforts but you really need an attorney.