When a group of people want to come together and buy real estate, some of the first things they should consider are what are we going to purchase, why are we buying it, and how are we going to fund it. Who’s putting in the money? Is there going to be a loan involved? If a bank is going to loan you money, they are probably going to want personal guarantees. Is everybody coming together willing to give a personal guarantee? Is everyone’s tax situation the same? How should taxes flow from this property? What are you going to do with the property? Is one person going to run their business out of it, or are you all just buying it to rent it out to third parties? There are so many questions that group of investors needs to answer before they can decide the best way to purchase the property.
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