All Forum Posts by: Coreen Foote

 Will do. Thanks!

 Ok thanks!

Hello, everyone, I would like to speak with an attorney about my options to set up a partnership but I’m unsure about what type of attorney I will need for each potential situation. Many attorneys charge a consultation fee that will be credited to my bill if I continue to work with them but I don’t want to pay for various consultation fees unless I know for sure that I have contacted the correct attorney. These are some options that I am considering.

1) Getting an LLC and a Joint Venture agreement to partner with a long time friend of mine but somehow separate our business from our individual marriages? Where if we use our own personal funds (not funds acquired from our spouses or from our marriages) our business would be strictly ours and our spouses have no claim to it should one of us ever divorce from our spouse.

2) Invest with my husband using the equity from our home but I want to have a business structure that is separate from the marriage where we are both partners and we are paid for our individual contributions to the business.

What type of business partnership could I have with my husband that can be setup in that way? Could a business attorney assist with that alone or do I also need a family attorney or real estate attorney in these scenarios?

Any help is appreciated. Thanks!

Name: Coreen Foote

Current location: Florida

Location investing in: Tampa Florida and surrounding areas

Investing strategies I’m pursuing: Flip to Sell

The resource I have the most to offer right now (time, money, knowledge/experience, skilled labor) is:

Time: I am retired and I can be extremely flexible with my time.

Some strengths I can offer this partnership:

Capacity for Knowledge: There are many things that I don’t know about Real Estate Investing but I recently got my Real Estate License to learn more about real estate and am constantly reading, listening to and researching to acquire a better understanding.

Discipline: I was in the Army for 20 years and prefer a structured systematic approach.

Organizaton: Notes, checklists and schedules are my jam:)

The resource I am looking for in a PARTNER right now (time, money, knowledge/experience, skilled labor) is: Someone that has experience in flipping homes and understands how to analyze deals.

I am seeking a real estate partnership because I need: Partnering with someone that has experience would definitely bring a level of comfort and confidence to the process but I’m also looking for someone who is willing to learn and is just as motivated and determined to figure it out.

My current level of experience with real estate investing includes: Many years ago I turned my primary home into a rental property and I’ve learned so much from that experience.

5 years down the road, I expect that real estate investing will have helped me achieve: Creating a legacy of financial security for my children.

Hello Jorge! Thanks for responding to my post! Glad to see you are in my area! Look forward to connecting!

Thank you for your response and for your professional insight. I will definitely take your points into consideration!

@Jonathan Greene, Thank you for your response and for your professional insight. I will definitely take your points into consideration!

Hello, BP community!

I’m thrilled to introduce myself! My name is Coreen Foote and I’m a retired Army veteran with 20 years of service. Since retiring 7 years ago I’ve been fortunate to be able to take the time to really think about what future goals that I have for myself and my family and I'm now ready to embark on a new adventure in real estate. Knowledge is power and for me, it builds my self-confidence so I’ve been bingeing podcasts, books and also recently gotten my real estate license so that I could have a better understanding of real estate in and of itself, with the hope of building upon that basic knowledge with what I’ve been learning about in real estate investing.

I’m eager to start my journey by investing in fix-and-flip properties to build capital with the future goal to purchase rental properties. I’m a hands on type of person so I will be focusing on properties in and around Tampa, Florida so that I can be up close and personal and learn as much as possible.

I’m excited to be a member of this community and I look forward to exchanging ideas, strategies, and gaining knowledge from all of you as I dive deeper into this exciting world of investing. Please don’t hesitate to reach out!

Thanks for having me, and I can't wait to meet you!

Best,
Coreen Foote