All Forum Posts by: Account Closed

@Tyler Kaye

Thanks for the reply! 

They're definitely wanting a return on investment rather than a partnership. The issue is a lot of them have the preconception that an LLC is the only way to do business, I could've done a better job at managing these expectations. Do you know what kind of documentation is required for investors?

Hi,

I've pooled together a few investors and want to do a flip or buy a rental using their investment. My question is, how do I structure the deal with them? Should I form an LLC with them as partners?

I know this is probably a question for an attorney and I do plan on consulting with one and getting everything nailed down before touching their money. But I wanted to get some feedback from the community first. Thanks

@Omar Khan 

Hey Omar, thanks for the reply, I actually found a subject property that I want to put in an offer for. I need a buyers broker that can help me do this.

Does anyone know a buyers broker in the Dallas area?

@Christian Scully if you already have the LLC. your accountant can help you file an S-Corp election. You can even file the election to encompass the current years taxes, he should be able to tell you down to the last dollar how much you'll save by making the election.

@Christian Scully once your netting about 40k from a cost benefit standpoint you should incorporate.

@Ramsey Blankenship I find the weekly schedule used in the "7 Habits of Highly Succesful People" to be really helpful in having productive weeks.

@Charlie MacPherson would you recommend title insurance when wholesaling? 

@Juan Pablo Murillo reach out anytime I'm new on BP as well and looking to connect with any individual who's open to learning!

@Christian Scully I asked my accountant this same question earlier today, he recommended that I keep the LLC. I guess the questions is are the tax savings worth the costs and extra corporate maintenance of the S-corp. I personally think they are.