Does Anyone Have A Sample Operating Agreement I Can Copy From?

4 Replies

I'm in the process of trying to flip a house and my lender is requiring me to purchase the house using an LLC and I need to provide an Operating Agreement ASAP. There's only 2 people in the LLC. Does anyone have an Operating Agreement I can get some ideas from who has flipped a house?

Do you have an registered agent? Try requesting it from them.

It would probably be a good idea to talk to a local real estate attorney to draft an operating agreement that fits the business that you and your partner are trying to build. The operating agreement really comes in to play if something happens and you are trying to dissolve the partnership. Some generic operating agreement or an agreement that was written by my attorney for my business might not work for you. The money you spend consulting an attorney now will be well worth it if you ever need the operating agreement.

Also, As a member of an LLC, you should have received a copy of your company's operating agreement when you signed it. If you no longer have it, you can acquire a copy. Every state has different rules regarding the governance of LLCs, but most states require that each LLC appoint a registered agent for legal purposes.

@Doran Summers @brenton

I’m thinking there has to be a general / generic template for someone who will be purchasing a property and then selling. I know the percentages of ownership and the different ways to dissolve the LLC will be a custom entry. But I’m thinking there has to be allot of similar operating agreements out there. Especially for the investors who set the LLC up in the property’s address as the name. I’m thinking I can just customize different templates to create my own.
I have an LLC and test I was the registered agent and there are articles of incorporation, but I need to revise everything to fit what my partner and I are doing with this Flip.

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