Invest With Friends?
Some friends and I are interested in beginning REI. Most likely multi family properties to be held as rentals.
Does anyone know what type of business entity would work well for this sort of arrangement? We will, of course, have an attorney put the thing together.
anyone with stories about this sort of thing?
And, where might I find a REI friendly atty in seattle?
thank you,
chip
just spoke with a friend who has done some REI who said not to formalize it because of all the admistrative work until after a few deals. but he had more flipping in mind.
since i wouldn't work with anyone i don't trust with my life anyway, can this be done with informal, written agreements first?
Thanks
I would also urge you to talk with a lawyer. If nothing if formalized you could run into a situation where you are treated like general partners and then everyone is 100% liable.
The way I would personally go is a Limited Liability Partnership - the key here though is to go see a lawyer!!![ Edited by Lethe on Date 10/01/2003 ]