Partnership Structure in Two Different States (CA/NV)

[Matt Sosa]

Hey all,

So I have someone who has a chunk of change sitting around and is interested in putting it to work. They've approached me, since I have a few properties already, and wanted me to do the grunt work (and maybe provide some, but not all of the funds). 

I'd love to hear advice and experiences in different structures, as I know a bit but am far from an expert. The other potentially confounding variable is the fact that we reside in two different states, with me being in Las Vegas and her being in California. I know that Nevada is a lot more friendly as far as taxes go, but am not sure if her living in California would be a factor for just her, or if it would impede on the business partnership/LLC/etc, even if it's formed in Nevada.

 ~Matt