So confused about forming an LLC for real estate

[Ayse Yesilyurt]

Hi, 

Can someone please fill me in on the details of how to form an LLC for buying a real estate from filing for to closing? We have studied and decided with a CPA that we will form an LLC, so that`s not a question, but here are the unknowns:

1) When I prepared the form (Article of Organization) for filing for LLC in Michigan - it just asks for organizer (submitter name) and they do not really need an Operating Agreement, but then where do we say who are the members?

2) Lets say after filing that I got a tax identification number and opened a bank account for the LLC and the title is prepared for the LLC. Then what else do I need to do before closing and now at this point, who knows my connection to the LLC?

Thanks also much, this info is really not existent anywhere. 

Note: I have also contacted a lawyer, but want to do most of it myself in case it is not needed and to reduce lawyer fees. 

Thanks very much!

[Wendy Patton]

Hello @Ayse Yesilyurt,

When I prepared the form (Article of Organization) for filing for LLC in Michigan - it just asks for organizer (submitter name) and they do not really need an Operating Agreement, but then where do we say who are the members?  This would be located in your Operating Agreement.- Michigan does not require you file your operating agreement, (question 2)but it is good to have especially when working with real estate as the title company may ask you for it in order to prove you can sign documents. Michigan also requires you to file an annual report every year. Please see the link for more details.Lara- LLC requirements