All Forum Posts by: Paul LaSpina

@Omar Khan

If I am "Fronting" a small amount of $$ to be the "capital" guy with a "partner" to buy 1 MFH. The LLC will be set up as Him as the "General Partner" in the new LLC and me as the "Limited Partner" in the new LLC, He will provide all the operational parts of the partner agreement and I will simply just provide a small amount of $$ as the "limited" partner, although I will still be marketing for deals and analyzing deals. For this arrangement we will both share 50/50 any flip or rental profits. Eventually, if successful profits will be used to continue to purchase additional properties with the same arrangement.

Are you saying with this structure we would be considered a "Syndication" and would need to abide by SEC rules?

@Alina Trigub

Hello Alina, I'm in the process of purchasing some MF's in PA. I live in NY. My partner will be the GP within his LLC and I will be the limited partner using my LLC.

Is there anything I need to be aware of with this type structure? Is this even the correct structure?

Thank you in advance

@Omar Khan

waste allot of money/time/resources how?

@Omar Khan

Understood about the "Operational Agreement". That will be very clear. As far as the GP/LP scenario, your thought is to simply create a new "partnership" entity?

@Josh Thompson

Seems like you're making allot of "Assumptions", why don't you have or can you get the "Actuals" of the property currently? Is it vacant?

Do you NEED to put anything down? What is the asking price? is this a listed property? Need many questions answered before making any decisions

@Basit Siddiqi Thanks again. I don't currently attend any events but have been looking into some on meetup.com............. I will be having some input on the daily activities of the partnership especially the property investments in regards to deal analyzing , negotiations, exit strategies etc... so maybe in would be better for me to enter the partnership as the sole owner of my LLC?

@Basit Siddiqi Wow, Great stuff !! thanks. So you are saying that I really don't need to engage with the General partners LLC with my LLC ? I can simply just use my name as the limited partner with my only exposure being the amount I invest correct? What about the distributions, it doesn't make a tax difference if I am myself or the my LLC?

Hey, I'm in Manhattan. I would love to buy you a cup of coffee or a drink and pick your brain a bit? who knows maybe there are some deals out there where we can help each other out?

Please let me know if you'd be interested in talking RE?

@Account Closed Hey Dino, Thanks for that.... How do you structure the companies? is it just a single LLC?

Advice would be appreciated. I am funding a partnership with an "Operating" partner. His LLC will be the "GP" general partner with my LLC as the limited partner. He is coming in with NO capital but as the operating/Property management/Construction partner. He will provide all the due diligence, acquisition, rehab, and property management of all acquisitions. He will get small percentages for construction and property management throughout the term of ownership of the properties. As well as 50/50 equity share. In essence, I am simply the passive investor with 50% equity. I will finance and determine exit strategies of ALL properties. Should I allow these terms? should I come into this agreement as the "Limited partner? Should i suggest a different LLC set up to protect my interests more?

Thank you in advance!

@Andrew Reyes Andrew, I live in NYC and I'm an investor also, would be willing to meet and discuss what I'm currently doing and perhaps there will be a synergy?

Message me if you'd like to discuss?

Paul