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Updated over 4 years ago on . Most recent reply

How should I form this partnership?
My current partner and I were able to finally acquire the last piece we needed to start a deal, someone with money. But now we are stuck on how we should proceed with a potential new 3 way partnership. We are in the process of opening our LLC but don't know how we should proceed with it. Since we are all new to real estate, would going 33/33/33 on the LLC make sense? Or in what other ways can you guys give me tips on how to make this partnership work. My current partner and I have the time and knowledge compared to our new potential partner, but he has the money that we don't. I also want to have more than 33% of the business if we do go through with it since I was the one who put the pieces all together to make it where we are right now. Any tips or guidance would help greatly. Thanks!