Let's say 2-3 folks invest in a real estate investment together by drafting up a partnership agreement based on each person's investment potential. Will LLC help in anyway, or is it not worth the effort going that route? Still in researching stage and so I don't know much about this - please share any wisdom/gotchas you learnt from your experiences over time. Assumptions: There will be a GC holder on the LLC who will be actively managing the property. The partnership agreement will clearly state that, and that the remaining folks are just passive investors - so that their investments count only as passive investment, and so will not conflict with their H1B status. Thanks!
LLC is just a pass-thru entity. It can protect you legally if you manage it correctly but has no real tax implications.
Also, and this most important, even though what I said is true you should stop taking tax and/or legal advice on Blind. Go get a CPA and a lawyer.
You should consult a lawyer and/or CPA.
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