How to do joint venture with brother?
(I know you're not a lawyer and will eventually seek professional advice.)
I just talked to my RE broker and he said with LLCs you typically do commercial loans. I don't like the terms and would try to avoid.
We could still do a conventional loan and if I'm not mistaken it'd be this whole "gift money" thing so the shared ownership wouldn't be recognized legally. Everything would be based on trust (which I'm fine with.)
So has anyone done this before? How do you do a JV with someone you really trust? We'd probably go 50/50 on property.