Best way to JV Note deal

[Bernard Braithwaite]

I am looking into partnering w an associate in a Note deal, what would be some good options on doing so? Im looking to use funds jointly for the purchase and profits would be split accordingly. Would establishing a separate LLC be ideal or doing business between LLCs? Any input would be great thanks.

[Bob Malecki]

On our JVs we execute a JV agreement, which is essentially a partnership agreement, and create a Personal Property Trust with my entity and the partners entity as the beneficiaries of the trust. The note is assigned to trust and the trust is now the "lender" of record when recorded. I prefer using trusts since they are very private and don't have fees and reporting like LLCs do.