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All Forum Posts by: Kaitlin Iulo

Kaitlin Iulo has started 1 posts and replied 4 times.

Goals, Business Plans & Entities

Post: Operating Agreements- any templates available?

Kaitlin Iulo
Pro Member
Posted
  • Posts 4
  • Votes 0
Quote from @Chris Martin:
Quote from @Kaitlin Iulo:

Hello all! Newbie here trying to start off on the right foot with 2 partners. I’ve listened to many of the BP podcasts and a recurring theme is making sure to have an operating agreement in place when partnerships are involved (of course). I’ve mined through the forums and I can’t seem to find a starting point for drafting an operating agreement- is this something you all hire a lawyer to draft? I was thinking I’d find something to start with then could bring to a lawyer for review/recommendations, etc…. Any guidance appreciated! Cheers. 


I have been in partnerships from 1 to 18 parties. One solar farm venture had three LLCs and six individuals. Regarding "is this something you all hire a lawyer to draft?" the answer is 'yes'. Regarding "I was thinking I’d find something to start with then could bring to a lawyer for review/recommendations, etc." That would be the best path.

I have been fortunate to have good partners. A lot of that is due to decent OAs and dealing with decent human investors. Get both and your operating structure should be okay. 

This is very helpful. Thank you, Chris. Congratulations on your successful partnerships and businesses. I hope to achieve the same!

0 Votes
Goals, Business Plans & Entities

Post: Operating Agreements- any templates available?

Kaitlin Iulo
Pro Member
Posted
  • Posts 4
  • Votes 0
Quote from @Jaryn Pierson:
Quote from @Kaitlin Iulo:

Hello all! Newbie here trying to start off on the right foot with 2 partners. I’ve listened to many of the BP podcasts and a recurring theme is making sure to have an operating agreement in place when partnerships are involved (of course). I’ve mined through the forums and I can’t seem to find a starting point for drafting an operating agreement- is this something you all hire a lawyer to draft? I was thinking I’d find something to start with then could bring to a lawyer for review/recommendations, etc…. Any guidance appreciated! Cheers. 


 Hi Kaitlin

What makes me nervous here is how you call yourself a Newbie and are trying to start off with 2 partners. I don't want to take the wind out of anybody's sails, but I would be very careful starting out with other people unless you are the one bringing the money and the other two are experienced operators. 

I appreciate your feedback! Yes, we are each bringing something different to the table (capital, experience, contacts).

0 Votes
Goals, Business Plans & Entities

Post: Operating Agreements- any templates available?

Kaitlin Iulo
Pro Member
Posted
  • Posts 4
  • Votes 0
Quote from @Henry Clark:

Use the lookup.  Put my name and operating agreement.  Make sure you focus on valuation and exit options. 

 @HenryClark, thank you. I was able to find it with your instructions. I appreciate the launch pad!

@Henry Clarkundefined

0 Votes
Goals, Business Plans & Entities

Post: Operating Agreements- any templates available?

Kaitlin Iulo
Pro Member
Posted
  • Posts 4
  • Votes 0

Hello all! Newbie here trying to start off on the right foot with 2 partners. I’ve listened to many of the BP podcasts and a recurring theme is making sure to have an operating agreement in place when partnerships are involved (of course). I’ve mined through the forums and I can’t seem to find a starting point for drafting an operating agreement- is this something you all hire a lawyer to draft? I was thinking I’d find something to start with then could bring to a lawyer for review/recommendations, etc…. Any guidance appreciated! Cheers. 

0 Votes