All Forum Posts by: Eli King

Because financing/debt is involved you may want to explore owning as TIC and having a JV agreement at least to start out. Test the water before forming a perpetual entity.

Bigger question though is why have a partnership? Just to share the capital outflow/down payment? Marginal reason. Or do you have complementary abilities and purposes? Much better reason.

Hi Steve - Thank you for the insight.

To answer your question, the initial interest to partner together came from the joint interest to purchase the same piece of property. After discussing the option to go in on that property together, we began discussing the potential for others as well - I am simply looking for opinions on the best ways to partner with the same individual on a small scale.

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Originally posted by @Patrick M Nichols:

Can explain more about your strategy, goals, and concerns? Will you be getting financing on these properties? Will you have 3rd party investors? There is no one blanket recommendation.

Also, what is a "legitimate partnership"? I am not trying to be flippant. I am just really not sure what you mean by that. What kind of partnership is illegitimate?

Current goals consist of purchasing 1-2 buy and hold rentals each year for the next 3-5 years. Each property will require financing. At this time, we do not have plans to initially bring on a 3rd party investor, but this option is certainly on the table for future deals.

By saying, "legitimate partnership", I am simply looking for the best course of action to grow and protect our relationship rather than a simple gentlemen's agreement. I have yet to purchase any time of property partnering with another individual.

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A family member of mine (@Levi Blaylock) and I are wanting to partner on some future deals - Mainly buy & hold rentals. There are varying opinions in the real estate community surrounding the different ways to form a legitimate partnership.

Any feedback or recommendations on LLC's vs. other options? Thanks!

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Hello All! My name is Eli King and I live in Smyrna, TN. I currently work in the automotive industry as a supply chain analyst, but I am looking to get started with real estate investing.

My immediate goal is purchase my first duplex or triplex property for the purpose of house hacking. I am also seeking connections with realtors, lenders, contractors, and fellow investors.

2 Votes

All Forum Posts by: Eli King

Eli King has started 8 posts and replied 14 times.

Post: To or Not to Form an LLC?

Post: To or Not to Form an LLC?

Post: To or Not to Form an LLC?

Post: Nashville, TN - Eli King