All Forum Posts by: Jim Hess

Thanks for the inputs and will do title as TIC.

We will have three partners on a flip. All with experience in real estate, have their own various LLC's and running their own business. We will pay cash for purchase and rehab.

Questions-

1-Should we set up a LLC for this property or will a Partnership with LLC as partners work. ( we a tasting the waters to see how we like working together)

2-How to take title

TIA

Can you 1031 exchange into a REIT? That may be a good exit strategy.

I have my subs sign a waiver for every amount when they are paid, and for the work done to date of payment.

I only work with clients I can trust.

We were thinking 50/50.

I would focus on the rehab and finding the property. Would we both take take title/mortgage?

How are you all structuring partnerships?

I'm a Realtor, have had rentals, have done developments-see avi. Also run a property management company.

Clients and customers are wanting to partner on some flips. What would be some options on structure? Not so much legal but equitable.

Sounds newbie I know.

My city will not allow it.