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Updated about 7 years ago on . Most recent reply

User Stats

8
Posts
2
Votes
Weston Desormeaux
  • Rental Property Investor
  • Vidor, TX
2
Votes |
8
Posts

Business structure w/ a Invester

Weston Desormeaux
  • Rental Property Investor
  • Vidor, TX
Posted

Plan is to BRRRR and Flip, question is how so set up the structure with a "silent partner", AKA relative that has a little money they want to invest and help with work when they can but doesn't want any real stress or responsibility with decision making. Im thinking right now set up a LLC and a DBA for me, buy houses in DBA then remodel and manage with LLC. Deposit rent/profit in DBA then put working capital in the LLC then the silent partner and i split the rest, after bills. Im going to talk to a Tax professional when i get home, but just want some input... yall be honest that sound stupid or that a good start or what? Im trying to figure out the best way to keep Partners, mine, and working money separate.

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