I want to know if it is wiser to form a business partnership rather than just having one person collect money as a group to purchase and sell property. I would like to form a group of investors to purchase apartments for rentals, and buy commerical properties. In California what are my options for opening this type of business plan so that all the investors are equally protected?
Realty_Shark said:
May 04, 09 at 9:13 amForm an LLC at the very least, if not a corporation. An LLC has tax benefits for you, too. Whatever you do, do NOT put it all into the hands of one of the individuals without this type of contract in place. Spend the money to go to an attorney who specializes in real estate. You won’t regret it. I know plenty who didn’t want to spend the money and ended up in a horrible mess.
George_K said:
May 04, 09 at 10:54 amA business partnership is a must.And get a lawer todo all the paper work.