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Which kind of business to start?

Me and some friends are looking to start a flipping business. What kind of partnership would be best for this type of business?

  • Me and some friends are looking to start a flipping business. What kind of partnership would be best for this type of business? In regards to getting approved for loans, my one ...show more

  • Answer:

    do not enter flipping; about 1 in 1,000 earns a penny. HOW do I know? Was a RE broker

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If you form a legal partnership, (LLP I would think to protect your personal assets) the *company's* credit worthiness is assessed as opposed to the individual partners. Until you've profited from flipping a few houses you're unlikely to get a loan. Or, you don't form a company and you get an investment loan on your credit worthiness and hope your partner improves the decision making that got him the lousy credit rating in the first place.

anonimitie

hey. no need for such language. Get a small business loan from your bank. hopefully the financial situation in your country is good enough to secure a loan. Good luck.

Barra

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