What Do I Put In My Operating Agreement?
Hello
About a month ago I paid my CPA to create a singe member LLC for me and make an operating agreement. Well the LLC has been formed and I have my EIN number and she's now asking me to come in and tell her what I want in my operating agreement. She says she has a general one but I should add whatever I want.
What do I want?
This is a venture I'm doing alone and don't plan on adding any partners or seeking outside capital other than a mortgage. I created the LLC to move my current SF property into it and plan to buy two fourplexes that will also be owned by the LLC. These will be all rental properties that I plan to hold long term.
Any idea's would be greatly appreciated!
Your operating agreement should be general and state (as basically as possible) what you are doing. An LLC to hold a rental property might have just a short sentence that says "the purpose of this LLC is to hold title to real estate with the intent of renting to interested parties."
KISS method!
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