Multiple LLCs or JV?

[Carolina Salazar]

Hello, my name is Carolina, living in NY and I would like to start my business in Real Estate investment doing flipping but I am not sure how to start the partnership. The question I have today is, what type of company or agreement will be better for me and my partners based on the following scenario:

1. There are 5 different partners who will provide unequal capital to start with the first house. They all prefer to get their profits every time we close a project. I heard, the best way to do it is opening & closing a LLC for every project (every house we buy-fix and sell) we get, however I feel this is too much of effort and cost. Is this the right and only way to do it? Is there any other option? How about if I create the LLC and then do Joint Venture with each partner for each project?