Has anyone had experience in a partnership?

You will need at least a few 100k to get started in triple net or you can also set up a partnership and pool funds to purchase.Your number of units and what rate you can get depends on how far these are spread out.49 units in one or two locations within a mile of each other is different from 49 units spread out in 5 or 10 miles with 15 locations.The time and logistics and economies of scale is ran differently.

We had a pretty solid monthSuccessfully refinanced a repositioned 11 unitClosed on two single family rentals and got the rehab startedPut 1 additional single family rental under contract.Built out 3 year plans for 2 new partnerships we started.Closing on my first property that I purchased as a flip and successfully executed with a nice profit(fingers crossed, property closes next week).

If you're not going to 'put a ring on it' you need a formal partnership agreement drawn up.Second, there's a reason that banks likes you to save up a downpayment.

,You net on the spread; however, your income and expenses are the gross amounts.If you are investing through a partnership, S-Corp or C-corp:The interest you pay on the loan is an expense to your business.

Just to be clear from the beginningOthers may disagree (especially the lawyers) that both are fine. so hopefully they chime inAlthough i would not lose any sleep over the LLC vs Promisory note, I'd spend a lot of time thinking about the roles of the partnership and how it will be win/win fully utilizing what each of you are best at.

Just my 2 cents I put down 35k in a 4 way partner ship 12 years ago and have been getting checks for 2k a month for teh entire 12 years.

Hey Susan, BiggerPockets has a partnership with SmartMove through TransUnion - and you can run a credit check that way.

Now, if you put a deal together for a partnership that required adminsitrative duties, unique knowledge and expertise at a professional level, such may be more than sufficient as the contribution to the partnership and earn rights to profits or losses.So yes, services could be a sufficient consideration paid to contract, but you'll need to be able to value that contribution in dollars.If you have no money, I suggest you pay an equitable amount for the option price if you are really in the deal in good faith and make a note for the option price, that is consideration.

It could be a partnership that passes income through to the LLC.