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Updated over 11 years ago on . Most recent reply

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449
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Mike Nelson
  • Wholesaler
  • Washington, D.C
94
Votes |
449
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Should my credit partner be against marriage?

Mike Nelson
  • Wholesaler
  • Washington, D.C
Posted

I'm in the process of working with a credit partner that will go in on deals with me as we refinance properties into a portfolio loan. My question is, is it bad if this person could potentially get married in the future or would a prenup protect any property that is accquired during the marriage that's a part of the partnership?

The reason why I ask is because someone who I look up to has recently went bankrupt after a their partner went through a divorce.

Most Popular Reply

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Jon Holdman
  • Rental Property Investor
  • Mercer Island, WA
14,127
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22,059
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Jon Holdman
  • Rental Property Investor
  • Mercer Island, WA
ModeratorReplied

Your worries when you have a partner are far bigger than just marriage and divorce. What if this person dies? Gets sued and loses? Moves away? Suddenly needs money? Goes on a spending spree and wrecks his or her credit? Decides he doesn't like how you do business? This is all stuff you should spend some time talking through and write down in your partnership's operating agreement.

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