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Updated over 4 years ago on . Most recent reply
How to set up a family entity for buy and hold properties
Me, my brother, and my parents are looking to invest in real estate as a group. This would be everyone's first investment property. We're hoping to build a large portfolio of buy and hold single family rentals.
The plan is for each party to contribute equal amounts to the investments, with ownership being split three ways. We're mainly concerned about the tax efficiency of distributing rental income, and the implications of my brother and I eventually inheriting or selling the properties.
What sort of structure is best for this? Or maybe the better question - what sort of attorney should we be looking to speak with?
We're open to all sorts of arrangements, just don't want things to get too complex since we're new to this.
Appreciate any help!