Partnering with an Investor - Forming LLC (Tax/Financial Advice)

[Paul Bogdan]

I am partnering 50/50 with a family member who will be a hands off investor - they provide the capital and I manage all daily operations. I am forming an LLC and am wondering if we should both be included on the business or If I should be the sole member of the company. I am forming this company with an attorney who will be able to answer my legal questions, so I just need some financial guidance. Unfortunately, my CPA is slammed due to tax season, so I am hoping to gather some helpful knowledge from the forums. As a young RE investor I appreciate all of the advice I can get, thanks.

[Allan Smith]

If you are 50/50 owners there's no question you should both be in the LLC. Plus, what's the point in forming a new entity if it's not to create a joint venture.

alternatve, y