Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated 7 months ago,
Does my silent partners needs to be in my LLC
Hello everyone! I have a silent partnership agreement with a friend in where we established the I will be the managing partner and he will be the silent partner. Me as the Managing Partner shall have full and sole authority and responsibility for managing and operating the business of buying, flipping, and renting of real estate properties.
He as the Silent Partner shall not participate in the day-to-day management or decision-making of the business of buying, flipping, and renting of real estate properties.
My question is, when establishing my LLC to buy the property do I have to add him as a member of the LLC in the certificate of formation? Thanks!