Partnership and financing

[Steven Correale]

How does the financing work when partnering on a deal?

Do all partners need to be on the loan?

Is it best to open an LLC (I have no experience with opening one)?

How does putting in offer work with partners? Do we all need to be pre approved? Are we all on the offer or does it not matter until closing?

There is no operating agreement in place yet, those details will be worked out soon. Should we each have a separate lawyer or just one to review the terms?

Thanks,

Steve