Rehabbing & House Flipping
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Updated over 5 years ago,
How to structure a flip with a partner?
I would like some advice on how to structure a flip with a new partner. I have done a few flips already using my LLC and hard money. However, I have a partner interested in doing the next one. We will be using a hard money loan to fund the deal and sharing the costs of the down payment and repairs 50/50. Can the property be bought using 2 LLC's or should we open a new LLC together? I assume a new checking account will have to be opened in both our names but how will that work with 2 LLC's if we are able to go that route? Any other advice that someone can provide would be appreciated. Thank you in advance.