Operating agreement for 50/50 partners?

[Kellen Driscoll]

Hey BP, I was curious if anyone had a very basic operating agreement that they use in the case of two partners with basically a 50/50 split of cashflow, equity and everything else. I’m just looking for something that outlines how repairs are handled if over the reserve budget, where the funds are kept, what would happen if one partner wanted out etc. Thank you! Kellen

[Bob Floss II]

@Kellen Driscoll Call a few local attorneys and ask how much they charge. It may not end up costing as much as you think and it can save you pain later. If you are 50/50 in everything, how will you handle if there is a disagreement?