Partnership Structure

[Aaron Vergason]

I have an LLC currently for investment properties. I'm interested in partnering with someone else and buying/ hold rental property. Do we need to create a new LLC or can My LLC partner with him personally to buy a group of houses?

Must he have an LLC to partner with my LLC or would his LLC just be a protection barrier in litigation?

Thanks,

Aaron

[Chip Cogan]

Aaron Vergason how did you end up structuring your deal? I'm in a similar situation with a friend of mine. I have a couple real estate LLCs (each with one property that gets great cash flow) but he has most of the cash to put up on a new venture.

I'm also wondering how the partnership should be structured as we both want to buy & hold (maybe do BRRRR together). We can figure out a percent split easily enough, but what about monthly (annual) dividends? My goal is to eventually be able to live off my REI income and that's less clear to me with a partner.

Thanks for any advice!