Private Range; LLC?

B

berettaprofessor

New member
Have any of you went in with a few friends to buy a piece of land for a private range and hunting preserve? How did you handle the purchase? Limited partnership? LLC? How do you manage insurance, etc?
 
Partnership first, establish a General Partner with all others taking a limited position, then form the LLC (or S corp) to make the purchase of the land and insurance. But I can tell you from experience it won't work well or last long regardless of how well you thought you knew those people. Best way in the world to lose friends fast.
 
First thing you should probably do is create a solid business plan or have one professionally drawn up & go consult with a lawyer.
 
If you could pull this off....getting a piece of land you could shoot safely on whenever you wanted...

like the old MasterCard commercial - "Priceless".
 
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