Investing as an agent and with a partner

[Brandon Serra]

Hi BP's,

I'm new to investing in homes/condos and I have a situation that I can use some advice on. I am a real estate agent and I have a friend that is looking to invest in the market. We agree to go half in our purchases. I would use my commissions plus some cash and he would pay the other half. Are there any pitfalls foreseen and is this wise to do? We are obviously only buying below market value which I understand will be difficult without a cash deal because we would have to finance our first few deals. Also, what is the best way to protect ourselves? Open an llc for each property? I know I'm throwing a lot at you but any advice or help is greatly appreciated.

-Brandon Serra