Hey BP, I am a new RE investor. Currently house hacking and am looking at my next purchase. Because of my financial state I'm going in with partners. They think it essential to start an LLC.
What are your thoughts? Thank you
If using active/equity partners I would use separate LLCs with specific operating agreements per relationship.
If you are just using private money loans, a lien, deed of trust, mortgage with associated promissory note should suffice.
I am not a lawyer, please consult one in your state to determine appropriate action for your local.
Thank you for the reply. The loan will be in my name and my partners will be helping with the down payment and renovation costs.
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