Partenership and investing in NJ

2 Replies

Hello There,

I am active investor in NJ, Buy and Hold type. Recently few folks approached me for partnership in investing in Single family homes. I wanted to go for it, but worry about loosing friendship/money/relationship/trust if something goes south.

I understand we need LLC or some entity as well as partnership agreement is good start. Where do i get more information.

Thank you

Prima

Welcome to the site @Prima Serv

You should contact an attorney to create an LLC along with an operating agreement that outlines shares, profits, duties, contributions, triggering events for changes, what happens in a death or bankruptcy etc....

Promotion
Marko Rubel
ATTENTION INVESTORS
Get Deals 100% Funded – No Credit, No Banks, No Job Verification
New Unlimited Funding® program for investors: low-interest, without banks or shark lenders.
Check availability

Free eBook from BiggerPockets!

Ultimate Beginner's Guide Book Cover

Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!

  • Actionable advice for getting started,
  • Discover the 10 Most Lucrative Real Estate Niches,
  • Learn how to get started with or without money,
  • Explore Real-Life Strategies for Building Wealth,
  • And a LOT more.

We hate spam just as much as you