Partnership Operating Agreement

[Tesho Akindele]

My investing partner and I are in the process of creating a partnership operating agreement. We already have one deal lined up in Kansas City, and it is possible we will continue working together in the future. I would love to hear your best tips on what to include in an operating agreement to limit problems in the future? 

Thanks!

[Luther Wilson III]

Hey, @Tesho Akindele, you're gonna want to talk to a real estate attorney about all of that and then some.  There are some solid ones here who we could refer to you.  Just off the top, I'm thinking ownership percentages, how the company decisions are to be made, what are the members specific rules or duties, tax provisions, and compensation are just a few of the items you'll be encouraged to have in the OA.  A partner and I recently talk to some advisors about a company buy/sale agreement as well...