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Updated about 7 years ago,
LOOKING FOR HELP FOR STRUCTURING PARTNERSHIPS AND CONTRACTS
Hey All,
Im looking for some ideas on how to structure creative partnerships and contracts for some mid to longterm buy n holds.
The deals would generally involve 2-3 individuals putting in equal amount of equity to cover downpayments and initial expenses.
We are newbs and want to start simple and work our way up
What are some of the major things to consider adding in the contract? How are the profits generally shared? What happens if and when 1 person decided to buy out? Do both partners go to the closing table? Or is 1 person closing and then giving the other a stake in the property? Can the partnership be btwn an LLC and a person?
Im sure there a lots more questions that Im missing. I appreciate all the help and advice.
Thanks In Advance!!