LLC for Investment Properties
Hello all,
After doing a lot of research on LLC's for investment properties, I luckily came across this forum. In 2013, I created three LLC's for my three investment properties and did nothing with them. I did not know enough then, but I am educating myself now. I used one of the online services out there to create the LLC's and thought that was all I had to do. I am trying to organize everything now and make sure it is done the correct way.
All three of my LLC's are in NY because the three properties are in NYC. I see that the LLC's Operating Agreement is what structures the LLC in a way that protects my assets. My husband and I created the LLC's for the protection LLC's offer (if done properly). I would appreciate any advice on getting my LLC's in order. After reviewing the information the company that set up the LLC's provided me, my husband and I are the managers of the LLC. Is there a basic operating agreement I can use if it is just me and my husband for the purpose of protecting our assets? I want to figure this out before doing the deed transfer. Two out of the three properties do not have a mortgage, and those are the two I am focusing on now.
Thank you guys for any help and/or information you can provide!