preparing for my first rental - looking for suggestions

[Rubin Thomas]

hi everyone,

looking into getting into my first rental in the Tulsa area and wanted to see if you guys had any recommendations for the following:

- mortgage lenders

- house inspection companies

- CPA's

- real estate attorneys (looking to establish an LLC)

thank you and looking forward to being a part of the BP tulsa community

cheers,

Rubin 

[Matt Horwitz]

@Rubin Thomas, here's your Oklahoma LLC steps:

1. LLC Name:
Search you desired LLC name on the state's database to make sure it's unique and available: https://www.sos.ok.gov/business/corp/records.aspx. LLC name must end with "LLC", "L.L.C.", "LC", "L.C.", "LTD Liability Co.", or "Limited Liability Company"... "LLC" is the most common.

2. Registered Agent:
Choose a Registered Agent for your LLC. A Registered Agent is a person or company who agrees to accept legal mail on behalf of your LLC in case your business gets sued. Your Registered Agent must have a street address in Oklahoma (PO Boxes are not allowed). You can list yourself, your LLC, a friend, or a family member as the LLC's Registered Agent. You can also hire a professional Registered Agent (called a Commercial Registered Agent).

3. Articles of Organization:
File the Oklahoma Articles of Organization online or by mail. Both methods cost $100. 7-10 day approval by mail. 1-2 day approval online. 
File by mail: https://www.sos.ok.gov/forms/FM0074.PDF
File online: https://www.sos.ok.gov/corp/filing.aspx (need to create an account)

4. Operating Agreement:
Sign an LLC Operating Agreement. Spells out who the members of the LLC are, how much they own, how taxes are paid, how profits are distributed, and how the LLC is managed.

5. Federal Tax ID Number (EIN):
Get a Federal Tax ID Number (aka EIN) for your LLC (only after it's approved) from the IRS. Cost is $0. Takes 10-15 minutes to complete online EIN application:
https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online

6. Bank account:
Open LLC business account. Bring your approved Articles of Organization, EIN, and driver's license. Call around and shop banks. Some banks charge monthly maintenance fees, but a few do not.

7. Annual Certificate:
File your LLC's Annual Certificate each year. A requirement to keep your OK LLC in good standing. Fee is $25 per year. It's due every year by the anniversary date of your LLC (the date it was formed). File online (https://www.sos.ok.gov/forms/LLCAnnualCertificate.pdf) or online (https://www.sos.ok.gov/sosSecurity/Default.aspx > login > “File Annual Certificates Electronically” > “Select a Work Item” > “Start New”)

Hope that helps!