Tax, SDIRAs & Cost Segregation
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated about 12 years ago, 10/26/2012
Operating Agreement for Manager managed 1 memeber LLC
I was wondering, after looking at several templates on the internet that look too general, if someone here at BP would be kind enough to provide a template tailored for the flipping homes business.
Here is how I will be forming the LLC:
1) Manager managed. Manager won't be owner, just manager
2) 1 member owner of 100% of the LLC
3) Manager is registered agent and able to sign on behalf of LLC.
4) LLC will be taxed as S corp.
5) There will be an initial "contribution" from me to the LLC to make the first purchase from LLC account.
I know I should consult an attorney/tax but at this stage I just need to get this going so I can start making offers in my LLC's name.
I understand this might be necessary in order to open a business account. Correct.
Anyways.. I appreciate if anyone could help.
Thanks