I'm definitely interested in any options, partnerships, etc....

Hello BP,My brother and I are joining forces and are going to start partnering on some deals.  We will do a 50/50 split and we understand our roles.  Is there anything specific we need to do when structuring our LLC? ...

(Partnership with a Broker)I have a meeting with the current owner set up and I am curious on questions I should ask.Currently they have 115 doors that they manage. 4 employees(2 are willing to stay) gross income last year was around 180,000$.

Previously, I formed a partnership on a property with my cousin - it was my first partnership and I was trying to get her into real estate and take her under my wing, so we did a 95%/5% split and did everything pro-rata. 

I personally started with a partnership and I think it was extremely beneficial.

Don't overlook the power of partnerships and networking as well. 

There are many issues most investors ignore and "wing it".A partnership agreement should be signed covering the following:Specific duties of each partnerPenalties for not performing those duties after proper warningIf more money is needed, how capital calls will be handledWhat happens if a parnter cannot meet their capital call obligationSpecifically how assests will be liquidatedThe process of a partner leaving the partnership and selling their ownershipWhat happens if a partner is incapacitated or diesHow the partnership can be dissolvedThere are many more issues, so a competent & experienced attorney should be hired.Just don't make the potentially fatal mistake of thinking it's all a matter of trust.

Hey BP,
I'm looking for some advise. To make a long story long,I have a biz partner for some non-REI related businesses that heard I was breaking into property investing and wants to partner on some deals. Admittedly...

If so, what are some things you can do to protect yourself in the case that the partnership goes bad ?

We are looking for a network of individuals who know the business well and can add value to our team by providing deal flow, market expertise, and a potential partnership.