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Updated over 6 years ago on . Most recent reply

Thao Nguyen's profile image
Thao Nguyen's profile image
Thao Nguyen
  • from New Orleans, LA
  • Member since May 30, 2019

User Stats

19
Posts
4
Votes
Thao Nguyen's profile image
Thao Nguyen's profile image
Thao Nguyen
  • from New Orleans, LA
  • Member since May 30, 2019
Thao Nguyen
  • New Orleans, LA
4
Votes |
19
Posts
Starting Out

Partnership on rental property

Thao Nguyen
  • New Orleans, LA
Posted

Hello, there's a rental property I've done the analysis on and it seems good. It will be a joint partnership with my brother in law who is also new at REI. What are some ground rules we should establish to avoid any miscommunication? Also, do we need an LLC for tax purposes?

Any inputs are welcomed! I am excited to jumpstart this journey but making sure I perform due diligence ! Thank you in advance !

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Thao Nguyen's profile image
Thao Nguyen's profile image
Thao Nguyen
  • from New Orleans, LA
  • Member since May 30, 2019

User Stats

19
Posts
4
Votes
Thao Nguyen's profile image
Thao Nguyen's profile image
Thao Nguyen
  • from New Orleans, LA
  • Member since May 30, 2019
Thao Nguyen
  • New Orleans, LA
4
Votes |
19
Posts
Thao Nguyen
  • New Orleans, LA
Replied

@Jake Stuttgen yes going 50/50 on down payment ! Thanks for your response! Is there a CPA or attorney specific to real estate I should seek out to or a personal CPA will do?

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