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How do I start a Partnership real estate company? |
I'm thinking about buying an investment property and combine it with my brother's and start a partnership with the properties being the assets. Just help me with some information about doing this. A partnership is a registered legal entity subject to the laws of the State in which it does business. Your State has a government agency, something like a "corporations commission", that registers business to operate and issues the permits required. Contact your State government; follow the instructions. There are some basic features of partnerships that apply in all, or almost all States. Look them up on the Internet. the smartest thing to do is consult a lawyer. And, avoid partnerships. Use an LLC or S-corporation. Check with an accountant ... they will provide much better advice in this area than an attorney. |
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