In today’s complicated real estate market, rarely can one party bring all the resources needed to complete an ambitious real estate project. Whether it be capital, know-how or a below-market purchase option on a buildable lot in the East End, developers need partners! While partnerships present a great opportunity, they also have unique legal, tax and operating attributes that can ruin your longest friendship if not handled properly.
Who has operational control? When do the investors get paid? Will the bank accept this partnership structure? And why did the lawyers come up with this huge operating agreement? During this event, our legal and tax expert panelists will answer these questions and more as they review a series of sample cases to explore the do’s and don’ts of real estate partnerships. After the presentation, the audience will better understand how investors and project sponsors are compensated, important provisions to look for in the operating agreement, what bank lenders expect, and other unique tax and legal attributes of real estate partnerships.
Join the Maine Real Estate & Development Association (MEREDA) for breakfast on October 28 from 7:30 AM – 9:00 AM at the Portland Regency Hotel to hear from a panel that will discuss the legal and financial aspects of real estate partnerships. They’ll share examples ranging from two friends flipping houses for fun to seasoned developers collaborating on some of the largest or most notable projects in recent years.
Click here for more information and to register.
This MEREDA “Morning Menu” Breakfast Event is Sponsored by Norway Savings Bank.
