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Updated almost 12 years ago on . Most recent reply
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Looking for an expert...
I have a pair of investors who want to invest in Real Estate in Houston, Texas with me. As far as I know, I need to create a Corporation which is going to receive the money from my investor, but it has to be dependable for them as well. In other words, the investor has to feel that their investment is safe and under their control. I'm in a hurry, so I need to talk with an expert. What kind of expert or professional should I be looking for?
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Karen Margrave Thanks for the mention and heads up.
Carlos Duran - For just a pair or threesome of investors looking to do RE investments on one off deals, no need for securities attorney, however, structure of your operating agreement for your LLC DOES need an attorney to draft.
You provided little info in your post so I am going to make some assumptions. If you are finding the deals and managing the deals, and your one or two partners are just money partners, then your operating agreement should stipulate that and more. For their security, you have several options.
1. For funds placed into escrow, they can receive a deed of trust (or in mortgage states, a mortgage) and promissory note to secure their funds.
2. They can be the ONLY signers on the bank account for the entity so that you have 0% control over their money, but have operating control over the deal along with your agreed upon profit splits.
If you provide more details of what strategy you intend to use, why you are in a "hurry", and how many partners along with details of finances for each, I can better assist you.