Experience with multiple people (an LLC) purchasing properties?

[Armando Carrera]

Hi everyone,

Have any of you had experience, positive or negative, with purchasing investment homes in a group? Was it difficult to get financing? Etc

Any advice, tips would be helpful before going on this possible venture.

Thank you!

[Shafi Noss]

One of my partners is a GC in Wisconsin and we purchase flips together. He has final say on the rehabs with my input and I have the final say on financial decisions with his input. 

Mutual respect, cooperative personalities, and good communication mean we never have to rely on those roles or rules to make decisions together. 

Another partner is much wealthier than me, but again respect and communication mean he takes my input seriously and I feel very comfortable accepting his decisions, even if it differs from my input. 

These deals have generated millions in profit, and I've had a high quality of life working on them. I think that respect and communication has allowed us to work in in a fulfilling environment, and make high quality financial decisions.