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Updated about 8 years ago,
Seeking advise on partnership for buy and hold
Seeking advise on partnership for buy and hold. General idea is 50/50 partner in initial investment and 50/50 cashflow and appreciation. I'm looking to create partnership agreement and any advise/suggestions appreciated. Not sure it matters but looking to invest in Denver area. Below are a few question I'm thinking about:
- I assume best to hold title on property in a LLC and we both 50% beneficiary of LLC?
- Is an LLC best vehicle for this or is a different business structure better?
- Are we both on the mortgage?
- If both on mortgage does that count against each of our 4 "preferred" Fannie/Freddie loans?
- How handle when only one person wants to sell? Could one person simply sell beneficiary rights in LLC?
Any other suggestions appreciated. Thanks!
-Charlie