Would Like Input On How To Structure Usiness
Hi All. Currently I have an LLC set up to manage rental properties. I have two people who would liek to come in as partners. We want to have three parts to our business. A Property management portion, constrction portion and a rehab portion. Basicall each of us would be responsible for running one portion of the business while helping out with the others as needed. We figured a 50-25-25% profit split depending on what portion generates profit. Example. I am running the PM portion so I would recieve 50% of profits from that and they would recieve 25% each. My question is should I leave it all under one name or should I split it up into three seperate businesses under the parent business?
Thanks for any input
Joe
[addsig]
Hi, check the law and legal forum, I jsut replied to another persons similar question about a FLP