Updated almost 9 years ago on . Most recent reply
Can an LLC be this flexible?
Is this scenario possible?
-I form a single member LLC.
-Bill and I partner on a deal. Bill buys a 50% share of my LLC. Operating Agreement(OA) states 50/50 on all expenses/profits.
-Next month, Julie and I partner on a deal. We classify this deal as "Asset B" and classify the first property as "Asset A". Rewrite the OA and say Asset A is owned 50/50 Me/Bill. Asset B is owned 50/50 me/Julie.
-Keep doing this for other partners and deals.
Does each new partner have to own a % of the LLC?
The OA can keep the money flow in line but does this scenario complicate all parties' taxes?
Other concerns?