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William T Stephens's profile image
William T Stephens's profile image
William T Stephens
  • Rental Property Investor
  • from Phoenix United State Of America
  • Member since Jun 23, 2019
  • Posts 36
  • Votes 6
  • Experience 19 Yrs
  • Investments 5

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William T Stephens's profile image
William T Stephens's profile image
William T Stephens
  • Rental Property Investor
  • from Phoenix United State Of America
  • Member since Jun 23, 2019
  • Posts 36
  • Votes 6
  • Experience 19 Yrs
  • Investments 5
William T Stephens
  • Rental Property Investor
  • Phoenix United State Of America
6
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36
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Rehabbing & House Flipping

Partnership in real estate investment

William T Stephens
  • Rental Property Investor
  • Phoenix United State Of America
Posted

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

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Will Barnard's profile image
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Will Barnard

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Will Barnard
Will Barnard
  • Developer
  • Santa Clarita, CA
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Will Barnard
  • Developer
  • Santa Clarita, CA
ModeratorReplied
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.

  • Will Barnard
  • Podcast Guest on Show #130
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