So now you found your partners, and you already vetted them. What’s the next step?
Now it’s time to buy real estate with your new partner.
1) Notification. Advise the power team that you’re now ready to find great deals. Tell the Portfolio Manager that you are now ready to search for deals. Then, introduce them with the team!
2) Establish your LLC for your partnership. Your Portfolio Manager can arrange for you, file do all the legwork for a fee or you can also decide to do this on your own.
3) Choose how you want to build your long- term property management. Once a property is bought, you can utilize my service company (KRE Services, LLC) to handle your LLCs books, manage the bills and prepare taxes for your partnership. For more details, you can ask your Portfolio Manager.
4) If necessary, establish a credit partner. If your partner can’t use their credit, you can now get into the next optional section in order to guide you on how to line up your Credit Partner.
Check out the next video on how to do this.
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Watch and Enjoy!
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4. Got Money or Retirement Savings? Learn about Partnering with Kris on Deals:
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Licensed under Creative Commons — Attribution 3.0 Unported— CC BY 3.0
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Kris Krohn is not in the business of providing personal, financial or investment advice and specifically disclaims any liability, loss or risk, which is incurred as a consequence, either directly or indirectly, by the use of any of the information contained in this document. Also, Kris Krohn, this document, and any online tools, if any, do NOT provide ANY legal, accounting, securities, investment, tax or other professional services advice and are not intended to be a substitute for meeting with professional advisors. If legal advice or other expert assistance is required, the services of competent, licensed and certified professionals should be sought. In addition, Kris Krohn does not endorse ANY specific investments, investment strategies, advisors, or financial service firms.
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