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Justin Louis
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How should my friend and I start our rental property business?

Justin Louis
Posted Mar 21 2024, 18:49

Total newb here. My best friend and I want to partner together to start a rental property business. I live in Georgia and he lives in El Paso, TX. I used to live there for a long time so I have a good understanding of the city. Our plan is to start our business/investment there. We both are going to bring $50k to the table from what we both have been saving. 

My question for you more experienced folks out there, how would you initially begin this. I thought going in that we would start an LLC but have come to learn that LLC's have very limited lending options for real estate and that our LLC would require us to file taxes as a business because there are 2 of us. What do ya'll think would be the right way to go here?

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