Business Structure for Working with Investors

[Account Closed]

A few colleagues and myself have been discussing the possibility of creating an LLC for house flipping in the Indianapolis area. Does anyone have any good suggestions for how we should go about structuring this kind of venture? We are looking to pool our money together and purchase properties for cash under the LLC and divide profits appropriately based on amount of contribution. Any advice would be greatly appreicated!

[Jaclyn McClellan]

That's a good idea! Just make sure you work with a lawyer to draw up an operating agreement. "If one party chooses not to continue then x"