Best Practice to Start Partnership

[Ryan Alexander]

Hello everyone, had a question regarding partnerships. My friend and I are going to on a duplex 50/50, splitting the down payment, expenses, cash flow etc.

What’s the best way to set the partnership up legally? Any advice on how to set this up properly would be greatly appreciated!

[Daniel Hyman]

@Ryan Alexander

You could have an attorney draft an operating agreement and create a partnership between your LLC (or you personally) and your partner.