Real Estate Attorney with 1031 Exchange & Partnership experience
Hi BP!
Getting a crash course in real estate investing and 1031 Exchange and I'm finding that I need a Real Estate Attorney - stat! I'm partnering with my brother and sis-in-law (50/50) and we are about 2 weeks out from closing on a land sale. Currently, we are in a partnership with our 2 cousins, but that will be dissolved as soon as the sale is complete.
Since we have to identify a replacement property within 45 days, we've decided to join forces and purchase the next investment(s) together.
Is there someone that this community would recommend who could help with establishing a business entity (be it a partnership, LLC or something else I'm not aware of) so that we can buy and sell real estate investments in a smart and careful way? I am assuming that we'll want to acquire more properties down the line and will likely utilize 1031 Exchange again.
Ideally, we would want to start working with someone pretty soon as we also need to identify property quickly, get pre-qualified with a lender and hopefully, close on a property in the next 2 months or so.
I'm assuming we want to have our partnership details established before doing all that.
All suggestions and advice welcome for this newbie!
Thank you in advance!
Caroling