Partnership in real estate investment

[William T Stephens]

I have a friend with capital want to be partner in real estate with me he don't have much experience in real estate he have some experience in construction should I get a paralegal to form a LLC for both of us should this be a great direction before sharing my lead in fix and flip

[Will Barnard]

Originally posted by @Nick Rutkowski:

@W Stephens

Absolutely, forming an LLC is the best idea. That way if you two split, you both can dissolve the LLC as you both agreed upon. Money doesn't mix well with friendship, especially in a bad deal.

Good advice, but not necessarily with an LLC. Speak with your CPA on which entity is the best for what you will be doing. Often times, an S Corp or LLC with S Corp election is better for flips.