Hi - I along with two of my friends have decided to team up and get our first property in Florida with all cash and no mortgage. We started a LLC through Incfile in Florida.
Now, we are definitely going to get a real estate attorney's help, but I wanted to prepare ahead and think of all possible scenarios to be included in the operating agreement so we can have a productive and comprehensive discussion.
So on that note, does anyone have any examples of operating agreements in Florida?
Below is more context:
- We all have full-time jobs and in our early 30's
- 2 of us live in New York City and 1 lives in Boston, if that matters
- All of us are planning to do equal investment and buy the property in all cash
- Our strategy for the first property is to go for cash flow
- We are only going to buy one property under this LLC.
Thanks so much.
CLICK HERE for Florida LLC Operating Agreement
Scroll down and there is a version in PDF and in Word so you can edit it.
A quick Google search turns up a ton of sample documents.