Buying as a Group: Forming a Co-Ownership LLC

When group buying makes sense

You and a few friends or family members want to buy a vacation home, boat, or other asset together — but you want real legal structure, not a handshake deal that breaks down in five years.

Step 1: Create the group

• The initiator creates a named group (for example, "Mitchell Family Lake House Fund")
• Invite members via email, SMS, or a shareable link
• Each member completes account creation, KYC/AML, background check, and credit verification
• The group dashboard shows everyone's verification status so you know when you're ready to make an offer

Step 2: Communicate as a group

Built-in group chat lets you coordinate, share listings, and discuss terms in one place — no scattered text threads.

Step 3: Make an offer

The group organizer submits an offer on a marketplace listing, or enters an off-platform asset's details manually (private sale, broker listing, Zillow find). Slivvy facilitates the rest either way.

Step 4: Due diligence

Slivvy runs the same verification suite as any other listing — appraisal/valuation, inspection, lien search, title search, and insurance review. Results are visible to every group member.

Step 5: LLC formation

Slivvy forms a Wyoming LLC with all verified group members as initial members. EIN is filed, and the asset's title is transferred into the LLC.

Step 6: Negotiate the Operating Agreement

This is the group's chance to agree on the rules before signing:

• Each member's ownership percentage based on contribution
• Usage allocation per member
• Decision-making thresholds for routine and major decisions
• What happens if a member wants out
• Capital call rules
• Who's the managing owner (if any) and what their role covers

Step 7: Close

All members e-sign closing documents, escrow releases, and shares are allocated based on contribution. After close, the group has full access to all Slivvy management features.

Adding shares later

If the group later wants to bring on additional members to reduce costs, you can vote to create new shares and list them on the marketplace. This requires an Operating Agreement amendment.