All Forum Posts by: Luciana Gresham

Hi Luciana, it sounds like already have the partnership and are asking the best way to execute it. This is my favorite thing about real estate - there is no one way to do things! 

A couple of questions.... 

1. Who is funding the deal? If one party is funding the deal - they would likely want the property titled in their name and to pay the other partner once all funds have been settled on the deal. If both parties are funding equally - title in both names equally. 

2. SOP? - On a one by one flip basis - I do not think this is necessary. I would just purchase the property and work together to get the deal across the finish line. If you are looking to do multiple properties together and build a business together it likely would be a good idea to create an entity , articles of organization, operating agreement, and standard operating procedures. 

Hope that helps!