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Updated over 8 years ago on . Most recent reply

Dave Shutack's profile image
Dave Shutack's profile image
Dave Shutack
  • from Chicago, Illinois
  • Member since Sep 23, 2015
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Dave Shutack's profile image
Dave Shutack's profile image
Dave Shutack
  • from Chicago, Illinois
  • Member since Sep 23, 2015
Connect
Dave Shutack
  • Chicago, IL
1
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3
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Tax, SDIRAs & Cost Segregation

Essential LLC Clauses and Considerations?

Dave Shutack
  • Chicago, IL
Posted

My friend and I are both new real estate investors. We're partnering to buy rental property in Chicago and we're forming an LLC.

As we draft our operating agreement, we are trying to think of must-have clauses and considerations that would be relevant to a real estate business. Clauses that will help us to increase liability protection and protect assets are top of mind, as well as any caveats related to having a 50/50 partnership. 

Does anyone have any suggestions, experience, or considerations they could share?

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