All Forum Posts by: Carl Zoellner

NCH?

Dear all, 

I would like to create a Single Member LLC to hold a long term rental property in Texas (I am living is Texas). Texas has no requirement for an operating agreement, but I would like to have one as I hear the general consensus is that (if done right) will help with liability protection.

My long term rental will then be owned by this Single Member LLC. I would like to do the state filing myself, because its easy and cheap. So I wonder if there is a "canned" operating agreement that I could use for this type of purpose. A CPA or Attorney have operating agreements available as well, typically for 500$ to 1200$. Of course your/my mileage may vary - but this seems such a standard thing to do, I can not imagine it's worth thousand dollars of contract rocket science.

Are there others that use Single Member LLCs for their Long term holds? How did you make an Operating Agreement or did you decide to call on an attorney?

thank you so much, 

Matt

A lot of folks pay for one and copy and paste from there. There is no real good substitute for a well drafted operating agreement, but if you are doing long term rentals in TX then the OA should remain mostly unchanged once you have a good one. However slight changes can make big differences in the drafting if you are doing STRs or Lease-options and things like that.