Questions concerning my new Partnership...

[James Stevens]

OK, so I have a question about some of the requirements is making sure that I'm doing everything legally. My niece and I just formed a partnership together for the purpose of investing in real estate. Our plans are to begin with wholesaling and/or fix and flips and eventually begin to buy and hold in the companies name. At this point, we are simply structured as a General Partnership. I have already filed for an EIN with the IRS and we have our DBA from the county. What I'm not sure about is whether or not we are required to file with the Texas Secretary of State. I have been researching this and I'm "pretty sure" that we aren't required to unless we were a Limited Liability Partnership (which we are not), but I was just hoping that someone might be able to verify this for me and help ease my mind. I just want to make sure that we are completely legal and legitimate.

[Zachary Tunstall]

A partnership is fine at the start, However, You will really need to call the Texas Secretary of State and verify for yourself, Do not gamble on the Info you get on the internet, Secondly, You need to safe guard your personal assets, Meaning you need to be at least an LLC, just in case things do not work out, If you are an LLC, and you have financial problems at any point, The LLC will protect you.