LLC Templates Where One Person Supplies Capital; Other, the work

LLC Templates Where One Person Supplies Capital; Other, the work

Investor · Clayton, MO · Member since 2015 · 45 posts · 6 votes

Just curious if anyone has come across an operating agreement that speaks to the situation where one person is supplying the capital and one person is providing the services, finding property, placing tenants, etc. While it is a 50/50 interest split, we would like to make the person who is securing the tenants and finding the properties capable of receiving a large distribution each year based on those fees. 

I'm hoping for some sort of template or language that someone has come across so I can put something together before seeing the attorney (I am an attorney but do not practice this area of law and will have a reduced rate if I put something together prior). Would love any thoughts!

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  • Investor · Daphne, AL · Member since 2014 · 1k+ posts · 242 votes
    10y
    Yes, I have done they deal several times, but there is no single template. Every deal is different. Good luck.
  • Investor · Daphne, AL · Member since 2014 · 1k+ posts · 242 votes
    10y
    "That deal ..."
  • Investor · Clayton, MO · Member since 2015 · 45 posts · 6 votes
    10y

    Hey Al - thank you for the response. Do you have an excerpt or blurb from your operating agreement dealing with this specific issue? I can craft the language according to my partnership but hoping to get ideas of what others are doing that may have had it reviewed by an attorney already. @Al Wilson

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