All Forum Posts by: Reda Eldehiry

Thanks everyone for your advice and suggestions. I think an LLC per deal is a good route for me for now given the scale I am operating at. All the other options seem to be way more expensive and cumbersome for the stage I am at. I am going to consult with an attorney first though to fully understand all my options and take my final decision.

@Ryland Taniguchi Thanks for the detailed response. I will investigate each one of the options you mentioned. Since you are in Seattle do you have any recommendations for attorneys?

Thanks @Curt Smith for the attorney recommendation.

@Bryan Hancock Thanks for stressing the fact I should seek professional help. I will diffidently do. 

@Nghi Le Your story is inspiring. I have kind of a similar story but not as interesting as yours :) I will pm you for the attorney contact. 

I have multiple friends/people in my network interested to be private equity investors/partners in my flipping deals in WA. The agreement is that I will be receiving 20% of profit for managing a deal from purchase to sale. Every partner will then get a percentage out of profit equal to the percentage their investment represents out of the needed funds. If there is a loss, it will be divided according to the same percentages. 

What is the simplest legal way to structure these deals given that every deal will have different partners/investors and the property being purchased for each deal is not defined beforehand?

Whether the answer is an LLC or not, what is the tax, title, profit/loss division and liability implications?
I am a newbie in such matters, so please explain in plain english :)

If you also have a recommendation for a real estate attorney in the Seattle area let me know.