General Partner (GP)

General Partner (GP)

What is General Partner?

When the property is in an LLC, there's usually one or multiple GPs who actively manage the business. They often have the ability to make decisions on behalf of the business as well as sign legally binding documents.

In real estate, GPs are people who are in charge of the property investment. They run the day to day operations of the business.

Some of the responsibilities of a GP include:

  • Finding and sourcing the deal
  • Committing a portion of money into the deal (to align incentives with LPs)
  • Handle operations
  • Sign legal documents
  • Hire relevant employees and contractors

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