Need advice. Want to buy a rental property with a couple of friends. While we completely trust each other, what’s the best way to go about it to ensure that all of us are protected.

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Form LLC. Have lawyers draft and negotiate an operating agreement for the LLC detailing your respective rights as owners. Acquire property through LLC.

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Wouldn’t do it no matter what

First question is why is it necessary to group up? Don’t do it just because it’s sounds like a fun thing to do. (It won’t be)

If you just need some money, I’ve heard banks are in the business of lending. If that’s too rich for you, try to set up private funding, likely with the seller.

Unless each person has something to contribute other than a little bit of money, it’s not worth it.

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