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Updated almost 6 years ago on . Most recent reply
Financing with an LLC - Questions
Hi everyone,
I am a new investor located in Fort Worth, TX, and I had a few questions for starting out.
1. First off, I have other two business partners that want to invest with me in some property here in Texas. After several discussions and research, we think it would be beneficial from a tax and structural standpoint to form an LLC for each individual property. My question is with financing; I want to have the loan with the business, and have my partners and I guarantee it, but I have no idea how that works (or if it can). Or, maybe people in a similar situation as mine have done it differently with partners. I will most likely continue to do business with these two people. Any tips on structure would help here!
2. I want to manage the property myself (this will be outlined in the operating agreement for the newly formed LLC) and I am contemplating different property management software. From my research, it looks like Avail would be the best for me as I will only have one property starting out and it's only $10/month. Any suggestions?
3. Does anyone know of a CPA that specializes in rental real estate near Fort Worth, TX? Any suggestions are welcome.
Thanks,
Logan