How to fund and finance a deal with partners

[Shawn Henley]

Hey everyone,

I am going to be partnering with at least 2 other people for my first deal, which will likely be a flip.  My experience trying to get financing with a new company is that it can be extremely hard to get approved.  I am new to real estate investing and have no idea how financing a deal with three partners would work.

We are hoping to get conventional financing for our deal and between us put up 30% cash for the down payment.

Should we form a LLC and finance the deal through the company? Or can we each get approval for financing for a third of the deal? Have any of you partnered with others in this way?