Joining a Limited Partnership

[Paula Schafer]

Is there a book I can read - I need to learn what I need to know in joining a real estate limited partnership. Thanks

[Dion DePaoli]

I do not know of a book to read but a LP is similar to a LLC however the parties inside are different. In a Limited Partnership the parties are General Partner - usually the one who controls the day to day operations in some form and the Limited Partners - usually the ones who have limited or no day to day operation control. Many investment funds work with the LP structure where the LP is a capital provider and the GP is the manager.

Every company can have it's own different structure and to understand that you would really need to understand what is written inside the operating agreement or if the manager is using the company as a fund, you would to read the subscription documents.

If you add some more detail, we might be able to also add some more insight for you.