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Tax, SDIRAs & Cost Segregation
Account Closed
  • Rental Property Investor
  • Central, fl
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LLC setup for GP and LP

Account Closed
  • Rental Property Investor
  • Central, fl
Posted Nov 16 2019, 21:55

So I have found a mid sized multi family property and to take it down I am bringing on a single limited partner to fund the downpayment. I'll be the single General Partner for the deal and already have bought properties in another LLC (disregarded entity). I want to use the first LLC to be the GP for the second LLC and have the limited partner inside that one with a clearly defined operating agreement agreement.

Am I setting this up correctly to ensure protections of both parties and to ensure I don’t mix my previous rentals in with this one?

Thanks, here’s hoping my offer is accepted.  

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