Send me to the right place for examples of 50% prtnshp agreements

[Nicole Richards]

2 Bigger Pockets Investors looking for a partnership agreement for a potential rental property. I would like to read a few and get a feel for it. Any place in particular you can send me to look. We would also like to hold the property in an LLC. Time sensitive!

[Account Closed]

Originally posted by @Nicole Richards:

2 Bigger Pockets Investors looking for a partnership agreement for a potential rental property. I would like to read a few and get a feel for it. Any place in particular you can send me to look. We would also like to hold the property in an LLC. Time sensitive!

 Different laws in all 57 states. See  your attorney.

[Jay Hinrichs]

Originally posted by @Nicole Richards:

2 Bigger Pockets Investors looking for a partnership agreement for a potential rental property. I would like to read a few and get a feel for it. Any place in particular you can send me to look. We would also like to hold the property in an LLC. Time sensitive!

 this is pretty vanilla if its just two people and one rental house.. 

I have a really good attorney who I use in PDX that wont charge you an arm and a legg and scare you into all sorts of unnecessary and complicated asset protection schemes.. 

basically you can vest in LLC have an operating agreement ( that's your JV agreement) and a clear cut buy sell agreement .. pretty simple and standard stuff.. feel free to ping me off line.. I had lunch with him today..

[Nicole Richards]

Thanks for the reply Mike.  We are actually purchasing in AZ., but we live elsewhere.  I would like to have read a few from any state before arriving at our attorneys office, so I can bring to question some of my concerns.  I wonder what important structure has been added to some contracts that a partner may have felt was helpful in unforeseen events.  Things to be sure to include.  My thought is the more time you partner, the better you get a drawing up great contract.

[Nicole Richards]

That is great @Jay Hinrichs!  I will message you.  It is a 4plex and just as you said mostly want a sell agreement! 

[Jay Hinrichs]

Originally posted by @Nicole Richards:

That is great @Jay Hinrichs!  I will message you.  It is a 4plex and just as you said mostly want a sell agreement! 

 Sure thing... have you seen the community I am building on 282nd and Orient those are my houses :)  we are just about sold out 2 left out of 23.. been a great project.. 

[Nicole Richards]

Yes, I believe we spoke on this.  My co-worker bought one and loves her house!  I think about ya every time I drive it!  Nice work!

[Account Closed]

Originally posted by @Nicole Richards:

Thanks for the reply Mike.  We are actually purchasing in AZ., but we live elsewhere.  I would like to have read a few from any state before arriving at our attorneys office, so I can bring to question some of my concerns.  I wonder what important structure has been added to some contracts that a partner may have felt was helpful in unforeseen events.  Things to be sure to include.  My thought is the more time you partner, the better you get a drawing up great contract.

Hmmm, if I was partnering & buying out of state, I'd want a copy of the agreement a few days ahead of signing and I would have my attorney take a look at it. I use agreements that are great for Maricopa County but unlikely to be useful in Oregon or Washington. There is a different way of thinking. I did fix & flips in Washington for years. I needed a different set of agreements for Arizona. Just sayin'.

"Different laws in all 57 states. See your attorney."

Also, I know there are 57 states because Barack Hussein Obama told us so, it must be true. In fact it was in your neck of the woods:

"As reported by Reuters, Obama was howdying a crowd in Beaverton, Ore., on May 9, 2008, when he said: "It is wonderful to be back in Oregon. Over the last 15 months, we’ve traveled to every corner of the United States. I’ve now been in 57 states. I think one left to go. Alaska and Hawaii, I was not allowed to go to even though I really wanted to visit, but my staff would not justify it."

[Nicole Richards]

Completely agree @Account Closed  I do have some time, but need to get it together and all solid.  

Hard to believe the 57 states statement.   I thought you mistyped at first!  

Have a good one.

[Costin I.]

@Nicole Richards Many of the answers you are looking for can be found here:

• How to Effectively Conduct Joint Venture Agreements as a Real Estate Investor
• 596231-how-do-i-properly-construct-a-purchase-with-a-partnership
• 591376-create-an-llc-for-first-partnership-best-way-to-do-so
• 526244-taking-on-partner-s-and-limiting-our-liabilites

Good luck!

[Nicole Richards]

Really appreciate that @Costin I.  I am on it!!!!

[Keith Pinster]

Mike M. "Also, I know there are 57 states because Barack Hussein Obama told us so" -- Man, isn't it great to be so perfect that you never have a slip of the tongue, especially when you are exhausted?  It makes it so much easier to be self-righteous and petty when you want to demonize someone without actually knowing anything about them, doesn't it?  Great job quote-mining!!!