2nd REPOST: sharing deals - Posted by redd(ct)

Posted by Randy on July 16, 2003 at 10:14:50:

May I suggest searching the archives for previous post?s on ?Partners?, there were 204 posts on the subject.

2nd REPOST: sharing deals - Posted by redd(ct)

Posted by redd(ct) on July 16, 2003 at 08:52:15:

I would like to hear a few ‘successful’ examples of those who have done deals with partners.

I have always done this alone but am working on my first deal with other people.

I heard it is good idea to form an LLC for each deal you put together.

My deal:

4 family in a VERY exclusive area…FMV: 800K
owner owes 390K
has accepeted 60K of equity.

total purcahse price: 450K

needs about 50K in work

total investment 500K.

partners include myself, and 2 other people…one of the two is a contractor and has agreed to do the work but in return put out less for his share.

any sound advice on how I should proceed.