Originally posted by J Scott:
Originally posted by Bill Gulley:
IMO, having seperate LLCs for every property deal is just plain crazy, totally unnecessary and has absolutely no real value in limiting any liability whatsoever that can not be accomplished with insurance.
Bill Gulley -
I think the point you're missing is that it sounds like he plans to have a separate equity partner for each property. To avoid comingling ownership of several properties across several equity partners, I don't know a better way to do it without separate business entities.
J Scott - Yes, that's what I'm needing to do. So, really the hard money lender would have the first deed of trust, and my money partner doesn't have a deed of trust, they are just equity partners and might have to put some cash into the deal, right?
So the way you structure your business is that your LLC (Lish Properties, LLC) qualifies for all of the hard money or private money loans, is that right? So you don't have equity partners? If you do, how would you structure it differently?
