Updated almost 4 years ago on . Most recent reply
Advice on Forming a Partnership
Hello everyone. I want to get started in real estate investing and trying to narrow down my options for the best way to get money. I am looking into finding a partner and forming a partnership with him/her. Ideally the partner would bring the 100% capital and I would find deals and manage the project. However every attorney I have spoken to has either not gotten back to me or said they cannot help me. Do I need to contact a securities attorney and create some kind of real estate fund, or can this be done with a regular business or real estate attorney? If it's the former I imagine it's extremely expensive to do this and I would be better off looking into another option. TY for any help.
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@Kevin Sobilo Good idea. I assume I would still need a downpayment + rehab costs though? Or at least a downpayment. If so, that is a good idea the second or third time around, but I don't see how it could be an option for the first time. If I could find a HML that would fund 100% + rehab with a balloon payment due upon sale that would be ideal but I would prob have to get a few deals done to get the DP, etc. to make that happen.