Private money & buying with an LLC

[Laura C.]

Hi BP community!

I have 2 questions:

1) I recently formed an LLC, and I plan to buy properties using my company rather than my personal name. I'm guessing it's not much different, but I may be wrong. What is your experience when doing this? Any tips for me as I get moving in the next month?

2) I'm preparing to buy my first property in the next 30-45 days, and I have a close friend who is interested in investing with me in an amount of $15k. What kind of documentation do I need to provide my friend? What documentation do I need to provide legally in order to accept that amount of money and deposit it into my business bank account? What have you found is the best way to accept private money--cashier's check, wire transfer, etc.? Does it even matter? 

Thanks in advance for your help!