LLC startup - is lawyer needed?

Question

Looking to start investment properties again in the Sioux Falls, SD area. I have decided to set up an LLC. Is a lawyer necessary for a rental property business start-up?

If yes, please list recommendations if you know of any practicing in South Dakota.

Surinder Singh · Answer

Michael h Paulson 605 6796 745 great attorney real estate specialist.

Robert Angle · Answer

I just filed another single member LLC here in Ohio. It's $99 to the state, and then grabbed an EIN from the IRS so I could open a bank account for the LLC.

I will my own operating agreement. In Ohio I want even required to submit it anywhere.

Cale Pell · Answer

Thank you, for the info everyone!

Luke Garry · Answer

I agree with a couple people above that if it's going to be single-member LLC you're probably okay without one, otherwise I recommend Jack: http://www.nicholsrabuck.com/j...

Benjamin Aaker · Answer

For your first one, I recommend an attorney. I used Legalzoom and it was very cookie cutter but if you are a single-member LLC than you can change it as needed and reuse. If you are bringing on a partner, I'd suggest an attorney. I use Eric Kirkvliet at Lynn Jackson. He has also done a PPM for me.

Andrew Adam · Answer

I agree with the others. It is not necessary but it is not a bad expense to make sure all you ducks are in a row.

John Thedford · Answer

Are you going to have multiple members? If so I would recommend you have an operating agreement drawn up. If it will be a single member LLC verify if that gives you the protection you desire. No matter what purchase liability insurance.

Aaron K. · Answer

No unless you need to be explained to all the things not to do like pierce the corporate veil etc.

LLC startup - is lawyer needed?

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