Do I Need To Work With An Accredited Investor In Partnership LLC

[Liam Galbraith]

Hi BP Members,

I'm learning about partnership deals and would like to start one with a business partner of mine. The partner will put up the down payment for the house(residential 1-4 units), and I will manage and bring the deal. We will split everything 50-50. 

I will take out the mortgage under my name but we will hold the title under an LLC. If this is the case, does my partner need to be an accredited investor? (I will of course double check everything with my attorney) Thank you!

[Taylor L.]

Sounds like you're both having some level of active control in the deal? At least that's what I would do if you're running this as a joint venture. I don't see any reason why they'd need to be accredited. Talking to your lawyer is a good idea.