$30-40K and a brand new LLC.. what's our best move?

[Carrie Link]

My #1 dream in life is to not work for anyone. That dream gets even better when I picture my life working beside my twin brother every day (thankfully we still love each other after 30 years lol).

He's the frugal one and I'm the go-getter. So, he's bringing the money to the table and I'm bringing the hustle. I want to get a plan together to present to him on how we should go about investing in our first deal. He is willing to pitch in about 30-40K in the Spring of 2021. However, since we're both newbies, we have no idea where to start.

We know that our first step is probably going to be to establish an LLC. The kicker is that neither one of us have a clue what that means as far as financing goes. We really want to get into flipping. We both have a love for that type of process. So, if our first deal is going to be a flip, how should we go about financing? We hope to find a home in the 50-100K range, but since we're a new LLC what does that mean for a loan? Should we use the money we'll have for a down payment or keep it and use that for the repairs? Since we may not qualify for a loan through the LLC, should we look into getting a private lender?

Thanks for the help!