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What is the best way to go about purchasing a rental property with multiple buyers?

Salsero Ed asked:

A couple of my friends and I are looking into buying one or more large houses to rent out to college students. What is the best way to approach this? One friend suggested forming an LLC and then purchasing the property under the LLC’s name. I was told this option would allow us to protect both our individual and group assets. I would appreciate insight from anyone with experience in this area. Also, suggested resources (web, books, etc..) would be helpful. Thanks…

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This entry was posted on Monday, December 7th, 2009 at 3:28 am and is filed under real estate forms. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

4 Responses to “What is the best way to go about purchasing a rental property with multiple buyers?”

  1. Caffeinated Content – Members-Only Content for WordPress

    this would be a great idea.

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    LLC is the way to go. You then distribute “shares” to each investor in the LLC appropriate to their investment.

  3. Caffeinated Content

    well you can just look for ones that you like and put then talk to the person and try to buy it from them

  4. Caffeinated Content

    yes, form the LLC
    You can talk with an experienced Loan Officer who has qualified your scenario many times,

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