Inherited Property in CA

[Michael Myers]

Hi everyone, first time poster here! Me and my two brothers recently inherited a single-family home in the greater Bay Area, CA. We’re looking into our options for renting the house out. 

Wondering what your thoughts are about the pros / cons for setting up an LLC or DST with three members? Does it make things infinitely easier to see if I can buy out my brothers and do everything myself?

Thanks!

[Arlen Chou]

@Michael Myers it will be 100% easier if you buy them out and do it yourself. I know of too many people who are infighting with family members because they fell into exactly your situation. It is really hard to get everybody on the same page if they did not start out on the same page. Do your brothers even want to be in the real estate space? Do all three of you have the same strategies in mind? When partners go into a deal, they should all be on the same page because they discussed it before going in. With your situation, it sounds like the three of you have been forced into a position of doing business together before any groundwork was laid. Either take full control or let one of your brothers buy you out. Holiday season sucks when siblings are fighting among each other.