Rental Property Partnership Structure

[Daniel Tisdale]

Hi,

I'm a newbie real estate investor and I'm looking for some guidance on how to structure my partnership on a rental property with my brother.

A little background on the situation:

• Myself and my brother will be partnering on the down payment for a SFR
• The mortgage on the property will be solely in my name
• I will be putting in a greater amount of the down payment, so I want to structure the terms of the deal, so that I own a higher percentage of the deal. (At least at first)
• My initial plan was to create an LLC that outlines the terms of the equity structure
• Our goal/hope is to continue to acquire properties together over the coming years, but I will most likely be putting in more capital over time

Does this seem like a reasonable approach to take? This will be my first rental property, so I wanted to make sure that I am going about this the correct way. Is an LLC overkill for this type of arrangement?

Any and all advice is greatly appreciated!

Thanks,

Daniel