Setting Up A Syndication
My father-in-law has seen some projects that I have been doing lately and has presented the idea of investing with me to his friends who live overseas. We are planning on setting up an LLC and a money market account to hold the funds while we look for properties. Some of the deals will most likely be short-term gains, while the majority will be long-term (rental or holding the note on a resale). My father-in-law and I are the only members of the LLC that will be living in the US. Since the capital investors will not need the tax benefits, would it be possible to write into the partnership agreement that we receive any tax benefits?
Have have note seen that book.
If it has arrived, let me know what you think of it.
I typically learn by doing, so when I looked to do a JV, I spoke to my mentor(s) that have done many.
I am not a good book learner.
I have the book. I purchased it a while ago. It has a lot of information but most of it is very technical legal/tax issues. Overall, not a good book. I was upset to find out that 50% of the book is comprised of "sample documents" including purchase agreements and other basic RE docs. The other portion of the book is very hard to read through.