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Updated about 13 years ago on . Most recent reply

Mike D.'s profile image
Mike D.'s profile image
Mike D.
  • Investor
  • from Marion, IA
  • Member since Oct 26, 2010
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Mike D.'s profile image
Mike D.'s profile image
Mike D.
  • Investor
  • from Marion, IA
  • Member since Oct 26, 2010
Connect
Mike D.
  • Investor
  • Marion, IA
117
Votes |
177
Posts
Tax, SDIRAs & Cost Segregation

Operating Agreement for One Property?

Mike D.
  • Investor
  • Marion, IA
Posted

I have an investor who wants to be a silent investor in one property with me. I would actively manage the property and he would simply supply the capital and receive dividends for the next five years. He would contribute contribute $15,000 to the deal and I would contribue about $15,000 to the deal.

I would like to have an LLC drawn up for just this one property so that the bank can finance the property using the LLC's capital (me and my partner's funds) as the down payment.

Is it possible to create an LLC for just one property?

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