3 People on Title - Need resources (podcasts, articles)
Hello - If I have a few friends that I want to buy an investment property with, does anyone have good resources (articles, podcasts, websites) for the way you structure putting multiple names on a title/mortgage without opening an LLC? Pros, Cons, etc. Anything will help!
Thanks a lot!
-Dylan
#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
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- Austin, TX
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#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Investor
- Austin, TX
You could create one LLC for all y'all or be on the deed 33% each
I haven't personally tried this yet, but I have had heard positive things about Tribevest as a platform for investing with friends & family.
I think an LLC is a great choice just because things can get messy when you work with an additional investor. With that said a LLC with a good operating agreement can help to alleviate most issues by anticipating them.
For a good operating agreement though this is going to typically require an attorney who specializes in this type of work just because templates typically don't address all possible issues that can come up.
Quote from @Mitch Lickey:
I haven't personally tried this yet, but I have had heard positive things about Tribevest as a platform for investing with friends & family.
Hi @Dylan Goss , Mitch makes a thoughtful suggestion here. Tribevest is built for this application. I've attached a diagram that shows how they do it. Don't hesitate to DM me if you have any more questions. Hope this helps!
