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3 Partners, 4 Property's
The short version. 3 equal partners buy 4 separate property's, 1 of the 4 property's will be sold and closed after 1 year has passed for cap gains tax advantage. The initial financing will be commercial money.
The proceeds from the sale of the the first property, will just about pay the other 3 property's mortgage balance, 80-90%.
The remaining 3 property's are of equal value, and may be divided up between the 3 partners. If this goes well, We may all hold for cash flow, or some may want to sell, not sure at this time.
What is the proper way to structure this deal? Transfer fees, taxes, enitys, 4 or 2 llc's? Please ask if more info is needed.
Thanks, John the Rookie.
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