Optimal way to join a multifamily deal? GP/LP confusion
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[{"id": "idgs08c", "text": "Everyone who puts in actual cash should be getting paid a preferred return on that cash.  You don't get the preferred return on the promote (sweat equity).", "replies": [{"id": "idgtsnd", "text": "Got it. So in reality they should be considered Class A, and I should be holding the GP position on my own and not mixing them in on that LLC?", "replies": [{"id": "idguvn4", "text": "Why would you be GP on a project you seemingly know little about?  And are they giving you the promote?", "replies": [{"id": "idgvjmg", "text": "&gt; you be GP on a project you seemingly know little about?  And are they giving you the promote?\n\nDue to funding falling through for a KP, the broker, a friend of the KP, asked if I would be interested in raising funds for this. This is my first time working this kind of deal so you're right that I know very little in terms of structure. I'm just trying to get all the advice I can. \n\n&amp;#x200B;\n\nI will be included on the promote as well.", "replies": [{"id": "idgx19t", "text": "Make sure you have your own lawyer (NOT company lawyer) to review documents.  Lots of ways you can get screwed here, especially since you're not familiar with what to look for.", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}]