Should I do JV or create LLC?

[Kathy Leach]

Hello:

Two associates and I are discussing doing a JV on a property. I think that we will want to do several properties. Do we need to do a separate JV for each property? If so, would it be more beneficial to create a LLC with the 3 of us? Each of us is in a different state. TX, WI and MO

Thanks!

[Kathy Leach]

Thanks for the reply! We actually all have our own LLCs already. So you think it would not be a good idea to do LLC with all of us as partners. Makes sense to keep it all clean. Can one JV agreement be done to cover multiple yet-to-be-determined projects or do we have to do a JV agreement for each and every project we work on together. We would definitely be using an attorney. I'll check out your links, too!