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Updated over 3 years ago,

User Stats

58
Posts
33
Votes
Murali Jesudoss
  • New to Real Estate
  • Reno, NV
33
Votes |
58
Posts

Forming LLC with friends - Members in public record or no?

Murali Jesudoss
  • New to Real Estate
  • Reno, NV
Posted

Hello BPers,

After venturing my REI journey in 2021 with 4 properties under my belt, I have discussed with like minded friends and formed an LLC in NV. I live in NV :-)

So we have 5 members with each contributing same capital with me being CEO and fully responsible for the business, shares will be split as 24% for me and 19% for others. I hope this pays out for all of my time and energy and helps me to expand.

Anyway, when I registered the business in NV with Inc Authority, they set this up as 5 managers managed LLC and I made an amendment later to make me as manger and also added all 5 members as members(including me).

Question I have is that is it OK or required to have the members listed in public record or is it OK for me to keep as manager and leave the owners details in the operating agreement alone? We do have a decent operating agreement that we put together that calls out me as the CEO and others as members with their respective share.

I was not sure if NV requires the members name to be available in public record or can I just have this LLC as manager managed where I can be the manager and all of us will be the members per operating agreement.