What is the order of operation with forming a partnership?

[Heidi Kenefick]

Hi,

I’m considering a partnership with my next rental purchase, and this would be my first partnership.

Do you form an entity for the property such as an LLC taxed as a partnership before acquiring the property? If so, what type of loan is used? Or do you buy it in one partners name, then transfer title to a partnership after?

Thanks for the advice in advance!