LLC, Partnership, Or S-Corp
I am new to real estate investing and I have a couple of business partners that would like to start with me. What ytpe of business would it be best for us to form a LLC, Partnership, or S-Corp.
Also would we be able to get a no-doc or stated income loan under any of these types of businesses for money to purchase the property because we donot have enough money to buy the property in cash.
You guys might want to consider talking to an attorney that specializes in entity formations.
And REI club I attended last month had a presentation by such an attorney, and he explained the pros and cons of using the various entity types.
In some ways, I wish I would have spoken to an attorney as experienced as this one rather than the more Jr. one that I did.