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Updated over 2 years ago on . Most recent reply
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Legal structure for flippers
Hello BP community!
I run a real estate matchmaking fund: we find deals, get people to invest, manage the end to end process - while buying in cash only (we don’t take any leverage/debt)
We are flipping about 2-3 deals/month and for each deal, we set up a new llc.
Currently, all deals are in Dallas, and based on our current legal advice, we have been advised that we are to set up a new llc for every deal. As you can imagine, along with operating agreements, PPMs and accreditation documents, this is very cumbersome.
Does anyone have a better solution? How do we create a better process so we are not having to do this every time, and note that our flips are only about 6 months in duration: so we then have to dissolve the entity which also has costs.
Thanks BP family - let’s keep growing together!
Haider