Asset management under LLC

[Justin Kramp]

Happy Thanksgiving all!

I’m in the process of starting my real estate business.

I’ll be partnering with someone who already owns 3 houses and brings the money for our deals while I will be bringing the rest. We both are gonna be hands on and the details of the agreement work very well.

However, we are considering an LLC structure currently.

Since he owns property, we would like to use them as collateral when applying for mortgages as the llc entity. If we transfer the properties into the llc, is there a way to structure the llc that in case of absolving the business or buying him put down the road, 100% of these properties goes back to him while the rest is split 50/50?

It’s a bit of a confusing model but I want him to be able to retain his properties in this event.

Thanks!

Justin