Rental Property Investor · Palm Beach County, FL · Member since 2016 · 150 posts · 40 votes
Hi BP family,
Started talking with a friend of mine about a possible partnership so that we can buy a mid-sized apartment building. This friend stated that his brother is interested into coming together for a deal as well. I never met the brother and was looking into getting advice from you all. The scenario now is that I will be going into a partnership with two brothers. Wanted to see if there are others that were, or are currently in a similar partnership. I am also interested to know how one would structure a partnership as well since this is a new concept for all of us. Any good reads out there?
Rental Property Investor · St. Louis, MO · Member since 2014 · 741 posts · 424 votes
6y
One of Garrett Sutton's books would help @Tarcizio Goncalves He gives examples on how to set up responsibilities of the partners/members in the operating agreement, so that it is clear as what is expected of each partner. You may need a lawyer to help write up the operating agreement, but reading the book may help you find a vision and language to make it happen. The first, Starting Your Own Corporation, is good. Run Your Own Corp was also helpful. There are others.