Two partners want to invest. Structure ideas.
Here's my situation.
I have an new LLC (no history, just a bank account)
I have two people who want to invest 50/50. They will front their credit on a hard-money loan. One partner per deal. I find the deals, negotiate and manage the project. I'm a loan officer.
How should I structure this so I'm more secure when the check arrives? I know the check will be in the name of my partner. Also hard-money gets wired to borrowers bank account. Should I:
Title the property into my LLC and add them as a member.
Create a partnership for each deal with 50/50 split.
We open a bank account together with co-sign privileges.
Create an LLC for each deal.
Other ideas???
It seems like there are many options and now I'm not sure what would be best. Any ideas.
Thanks.
Ivan