Combining Family Home Improvement Business with Real Estate Investing

[Matthew Scott]

Hello, I'm new here and have always been interested in Real Estate as my father owns a home improvement (kitchen, flooring, bath, etc.) company in western Massachusetts but I haven't invested yet. It was always assumed that I would take over his business but it is located in an area that I don't want to live in so I don't see that working. I'd love to take over the business, I just can't live in that area as it is a bit too rural for my taste.

Ok, enough back story...basically, I have thought a lot about finding a way to utilize this unique opportunity of having my father's business in the family and finding a way to combine the cost savings of purchasing goods through his business to keep my rehab/flipping costs down and then giving his business a percentage of the sales profits or something of that manner.

Does anyone have any insight into how I would go about establishing something like this officially (would it be an LLC, just a simple loan or agreement, etc) or any other ideas of how to capitalize on this opportunity? Like I said, I'd love to just take over the business myself but it's about an hour and 15 mins west of where I live in Massachusetts and it's just not an area I want to live in and the commute just wouldn't work for me. Thanks for your help!!