Partnership Question

[Nick Intrieri]

Looking to form a partnership with another newbie investor in my area. This is going to be our first deal together. I am wondering what are the best ways to, legally speaking, to "formalize" so to speak the business relationship? Is it necessary to create an LLC or can we draw up a simple agreement on equity shares and both sign it? How does it work when applying to the bank for a loan?

Thanks all for any advice. I would assume this is a common question but could not find any topics specifically on this. 

Thanks

Nick