All Forum Posts by: Christopher Allen Michael

My LLC and my business partner's LLC are purchasing a rental property together as joint owners. "Abc LLC & 123 LLC" will both be on the mortgage and deed.

Does anyone have a sample of an Operational agreement in terms of: responsibilities, exit plan, general day to day operations, etc.?

 Complete foundation repair. I have considered discounting rent if it will be an inconvenience to the renters. I am not sure of any liability as I do not believe the construction will not interfere with the tenants physically. 

I am purchasing a single family home that needs some foundation repairs. The foundation repair company is about 5-6 months out before they can start on the project. The house is a crawlspace and they will not need access to the interior as far as I know. Can I go ahead and get renters know that this project will take place while occupied? Or would it be better to hold out and wait until the foundation is fixed?