Business structure w/ a Invester
Plan is to BRRRR and Flip, question is how so set up the structure with a "silent partner", AKA relative that has a little money they want to invest and help with work when they can but doesn't want any real stress or responsibility with decision making. Im thinking right now set up a LLC and a DBA for me, buy houses in DBA then remodel and manage with LLC. Deposit rent/profit in DBA then put working capital in the LLC then the silent partner and i split the rest, after bills. Im going to talk to a Tax professional when i get home, but just want some input... yall be honest that sound stupid or that a good start or what? Im trying to figure out the best way to keep Partners, mine, and working money separate.