Should I have a personal LLC or one with my capital partner?
Hello all, I'm looking to start investing in small-medium sized apartment complexes and I'm trying to figure out the best way to set up a business entity. I would be funding the down payment and closing costs with capital partners and offering them 70% equity.
From what I understand I would form an LLC with my partner so both of our names would be attached to it. If I did this, I would have to form a new LLC if I wanted to partner with a different investor on another deal. So, would it be better to form a sort of 'personal' LLC that I am the sole owner of and keep my partners on the outside of that? How would I even structure that, legally speaking?
Sorry if this seems like a dumb question, but this side of real estate continues to elude me for now.