Thinking of starting housing investment llc?

Thinking of starting llc where myself and multiple "partners" or "investors" contribute funds, and then purchase multi-unit housing, holding them for 5 to 10 year periods. My question is, to begin a venture like this, do I need any special licensing or legal representation (aside from forming LLC within state)?

Any advice or experienced wisdom would be greatly appreciated. It does not appear to be too risky if you select the right properties, but I am unsure on things such as;

A) Setting up early withdrawl penalties for investors
B) What I should charge as the person bringing this all together
C) Is this recommendable, or a formula for disaster

Thanks in advance!

in order to buy real estate as an investor you do not need a real estate license. as far as an LLC is concerned you should consult with an attorney and an accountant to find out the legal and tax ramifications to you and your investors.

as far as the other stuff, it is more complicated then you think and way to detailed to be answered well in this forum. i have been involved in real estate and mortgages for over 22 years and have helped 1,000's of people get into homes (as well as make sound real estate investments). I would be happy to discuss a consultation fee with you if you would like feel free to email me or call me at 1-877-472-6810.
good luck

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