L
Learjtr
Guest
What is the name of your state? Texas
I own some rental properties. I have been doing business on a personal basis. I am now buying a larger property of 55 units with a partner. I need to protect myself of liability. I was looking at forming a Limited Liability company. I have since been informed that I have the option of forming a Limited Liability Partnership. I cannot find much info on a LLP what are some major differences of the two and can we have 2 General partners and no limited partners. If we want to add limited partners later is it possible and is it very hard to do? My last question is how can I tie my rental properties in to all this and keep them as my own?
Thanks,
Learjtr.
I own some rental properties. I have been doing business on a personal basis. I am now buying a larger property of 55 units with a partner. I need to protect myself of liability. I was looking at forming a Limited Liability company. I have since been informed that I have the option of forming a Limited Liability Partnership. I cannot find much info on a LLP what are some major differences of the two and can we have 2 General partners and no limited partners. If we want to add limited partners later is it possible and is it very hard to do? My last question is how can I tie my rental properties in to all this and keep them as my own?
Thanks,
Learjtr.