All Forum Posts by: Brian Tome

@Anmmar Alsaggaf

@David Fitch and @Donald Capwell hit it out of the park!  The first thing you need to do is make sure the parties agree on the basics, otherwise getting an attorney involved will become costly quick.  Most bill by the hour for this type of work and if you and a partner spend a lot of time disagreeing about individual provisions, that will cost you more.

Once you have a basic partnership and operating agreement concept, take it to the best real estate attorney you can find. I would recommend either a series LLC or Delaware Statutory Trust as a personal entity, invested in an LLP or LLLP with your partners, and would use Scott Swenson in Wilmington, DE. Whoever you use, it does not matter what they charge. It will be cheaper than litigating a dispute between partners.

Consider the cost of a partnership your first investment in real estate.  If you don't want to make the capitol investment or spend the time to get a good business structure in place, you aren't ready to invest with partners.

Good luck!

@Jeffrey Giffin

Please add me to your list for the next meet up. 

Thanks!

Welcome to BP @Sheila Mitchell!  You will find great resources here.

Welcome to BP @Anthony Ianozi!  Thank you for your service to our country.  We will be praying that you have a safe and Merry Christmas and look forward to seeing and hearing more from you on the site.

@Mario M.has pointed out a Florida statute that could provide them a basis to do so.

@Mike Sandridge

Welcome to BP! You will find great advice and wonderful support and encouragement here. Stay on the site, stay active, learn all you can.

Best regards!

@Erroll George

Welcome to BP! You will find great advice and wonderful support and encouragement here. Stay on the site, stay active, learn all you can.

Best regards!

@Jenell Holder

Welcome to BP! You will find great advice and wonderful support and encouragement here. Stay on the site, stay active, learn all you can.

Best regards!

@Michael Garrett

Welcome to BP!  You will find great advice and wonderful support and encouragement here.  Stay on the site, stay active, learn all you can.

Best regards!

@Todd Gilfoy

That invitation from @Account Closedis gold!  Stop and see him when you can.  Take him to lunch if he will let you.  You can't buy experience like that!