Using a partners personal excellent credit to receive funding.

[Art Z. A.]

Hi all,

I am stuck in this situation. Due to my bad personal credit. I am seeking in bringing in a partner to use his/her excellent credit to apply and get funding for acquiring properties. I already set up a LLC. My question(s) is how do I go about doing it? How would the wordage be on the contract and I am sure a partnership agreement/contract needs to be generated and I don't want to use a contract attorney due to limited funding. Your input will be greatly appreciated.

[John Giamundo]

I know I'm a newbie but I am a lawyer. I have to say a partnership agreement is THE defining agreement that protects you, your partner, and delineates all responsibilites of the parties, including what to do when you cant agree on things, and what happens when you want to break up the partnership. There is no way I would cheap out on this. Its not worth it in my opinion. Invest in the Lawyer.