partnerships? - Posted by Sonny

Posted by Bud Branstetter on July 21, 2002 at 21:13:35:

As an alternative consider giving him a mortgage to secure his interest. You can also place title in a land trust and have a beneficiary agreement as to how the costs and rewards will be split.

partnerships? - Posted by Sonny

Posted by Sonny on July 21, 2002 at 15:48:07:

I am planning to form a partnership agreement with a relative that is out of state. What type of partnership can I possibly form to get the tax advantages for myself and him? Are the LLC a good choice? Does the LLC have to include the minutes to be recorded even if he cannot attend? The agreement will be in Virginia where the properties will be bought and sold or leased out.
He has most of the money and me the good market to buy houses.
Any help will be appreciated.

no partner needed - Posted by Donald

Posted by Donald on July 21, 2002 at 21:55:53:


Seek a loan not a partner.
With a loan you will call 100% of the shots.
With a partner wellllllllllllllllllll?

my 2 cents