The most common entity for real estate businesses in Texas is the Limited Liability Company (LLC). Creating an LLC allows the owner to conduct business and limit their personal liability in the event of a lawsuit against the business. An LLC also provides the owners some ability to remain anonymous in the public records.
The key document for multi-member LLCs is the Company Agreement which outline how two people can join funds together to co-own a single LLC. The rules for operations and finance distributions are all covered in this basic agreement.
In order to open a bank account, you will also need a federal Employment identification number (EIN). This is available online and usually produced within 1-2 days pending IRS uptime. Discounts are available for combining services.
This package includes: