How to structure a partnership for real estate deal

[Sharad Bagri]

We are a few friends looking to invest in multifamily apartments (<4 units) in Ohio. We haven't done real estate deals together earlier. We need guidance on how to structure our partnerships. Are there templates that can work as good starting points for us. 

Also, we will be doing standard downpayments and financing. So, should we create LLC and get the loan in the name of LLC or should we take the loan individually.

Should we have umbrella insurance to protect ourselves?