Updated almost 8 years ago on . Most recent reply
Partnership Question in Louisiana
I am pretty new to real estate investing, and I have few questions about partnership.
I am looking to invest in the greater New Orleans area, and I intend to do it with a few family members. I want to structure the partnership correctly so that everyone's assets are protected. There is essentially two types of investor to be included in the partnership: 1) member with very little assets to protect with a substantial amount of savings in retirement accounts, and 2) member with retirement accounts but also a substantial amount of money in a regular investment account.
My questions are:
1) How does the Louisiana laws protect retirement assets and personal home in case of litigation?
2) What is the best way to structure the partnership in order to protect everyone assets in case of litigation against the partnership? To launch our real estate investments, we will need residential loans. Would a LLC be a problem?
3) Any recommendations for a real estate attorney in the greater New Orleans area?
Most Popular Reply
I have no insight into partnerships but I would suggest to start with David Birdsong. He's an attorney and if he can't help you, help can point you in the right direction as he oversees the REIA in NOLA. Good luck!