Meeting With An Attorney

[Michael Lopez]

Good evening,

I previously posted about Joint Ventures because I have an opportunity to go into business with an investor willing to put up 100% of the cash while my brother an I take care of the rest of the rehab. I didn't want to jump right and purchase a property immediately without protecting myself and my brother first. I was considering a joint venture that many have suggested was the way to go, but then during the BP webinar a couple of days ago during the day I asked the host if I should create a JV to which he stated no, going against what everyone else had recommended. I asked a second question asking if I should create an LLC for protection to which he stated yes, agreeing with everyone else I either spoke to or here on BP. I am meeting with a real estate attorney that my broker has used for his investment properties to discuss what my plans are and what route I should take. I am trying to be prepared and have been reading, reading, and reading, along with watching podcasts. To be honest, it is all making me quite confused because of the conflicting answers. I want to be able to buy properties at the right price and either rehab or turn right around and resell them to other investors, but n order to do this I want to understand what would be the best way to do this so that everyone is protected and my investor receives a great return for his investment. Should I just present the information to the attorney and just move on. I would really like some insight before I meet with him at 10am tomorrow morning. Any feedback would be great! I thank you ahead in advance.