The nice thing about LLCs is that they can elect to be taxed as a partnership, an s-corp, a c-corp, etc -- basically whichever tax structure is of the most benefit.Most people that start LLCs (and talk to a good CPA) will elect to have their LLCs taxed as another type of entity, and there *will* be potential tax advantages.

Partnerships have a high chance of failure.When you involve family they have a REALLY HIGH chance of failure.The reason is many can't separate family time and business time.It seeps over and contaminates other aspects of your lives.When a family partnership goes bad it doesn't end there.It lingers on for years or even decades with hurt feelings.If the partnership is 50/50 who will make the decisions??

Hello All,

Question:

My situation is as follows: I have been a real estate analyst for the past 6 years and have all the knoweldge and knowhow as to what a succesful commercial real estate investment looks like. I...

C corporations are ideal for property management companies, or to manage an LLC or act as the general partner in a limited partnership.

If your LLC is a partnership or a corporation, then your LLC will file a federal income tax return and will need its own federal tax ID.

Should I:Title the property into my LLC and add them as a member.Create a partnership for each deal with 50/50 split.We open a bank account together with co-sign privileges.Create an LLC for each deal.Other ideas???

Or was this person originally a stranger who you came to know and felt comfortable enough to do a partnership with?

Good luck, donrockDon, We are discussing a partnership with a Real Estate broker who will act as the pass through to close the sales and handle all of the paperwork.

Whether it is our training or joint-venture partnerships, or whether you turn to us to help you find and analyze a great deal in a market that is already starting to appreciate (yes we have found those), we have the necessary members of our “power team†to help you get started, regardless of your age, income, bank account, or where you live.

I know of a couple of creaps doing the same kinda thing with notes.Creep will offer a partnership in a property giving the investor a second.