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Updated over 3 years ago,

Jef Nordstrom's profile image
Jef Nordstrom's profile image
Jef Nordstrom
  • Member since Oct 5, 2018
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Jef Nordstrom's profile image
Jef Nordstrom's profile image
Jef Nordstrom
  • Member since Oct 5, 2018
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Jef Nordstrom
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Starting Out

Moving from Sole Proprietorship to LLC & a partner?

Jef Nordstrom
Posted

I am partnering with a family member to combine our real estate investments. Between us we have a total of 3 properties with approx. 50% equity and wish to purchase more.

Do we need to form an LLC? If so, how do we move the properties to the LLC?(Quit Claim Deeds?) The hope is to cash out refinance the properties and use the new funds to purchase more property. Is this a valid strategy?

The overarching question is: What steps do we take to accomplish our goal?

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