Entity Formation for Wholesaling Business with Money Partner

Investor · Bay Area, CA · Member since 2019 · 44 posts · 17 votes

I have a couple money partners ready to fund my wholesaling venture, and they want to be limited partners. They also like the tax and liability advantages of an LLC. Is there a way where I could form a General and Limited Partnership within an LLC? If not, what would you recommend?

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Basit SiddiqiBusiness Member
Accountant · New York, NY · Member since 2015 · 8k+ posts · 3k+ votes
6y
@David Reo

What do you mean fund your wholesaling venture?

Will they provide you the capital which you would then use towards your marketing campaign?
or
Will they purchase a deal that you wholesale and you will retain an ownership in this property with them through the entity?

What is the purpose of doing multiple entities? is there a purpose that you won't get with just 1 entity?
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David Reo
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Investor · Bay Area, CA · Member since 2019 · 44 posts · 17 votes
6y
@Basit Siddiqi They are funding marketing. You are right, one entity would be ideal for me right now.
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