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Updated over 3 years ago,

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Frank Gomez
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Need Advice on starting an LLC as a Partnership or Solo

Frank Gomez
Posted

I'm thinking of starting an LLC but I have a question on whether it's better to start off as a partnership or solo.

My brother and I have discussed starting up a real estate investment business, including fix/flips and rentals.

Initially, I was thinking of starting off as a partnership LLC but the taxes may get complicated as would any potential disagreements on how to handle difficult decisions. This lead me to think that may be it would be "easier" to create separate LLC's instead. By being separate, we could still partner together on investments however, if things didn't work out, we could go in a different direction without having to dissolve a partnership LLC.

Anyone here have any experience that could give the con's and pro's of a partnership LLC vs going solo?