Can anyone in an LLC close on a property for the LLC? NC

Question

I'm trying to start real estate investing, but Covid has kept me out of the US for 14 months at this point. I can get a POA made, but it takes two months for the POA to arrive once mailed. I've found a way to make an LLC with my wife and I as the members. I just want to be certain that she will be able to close on properties before I go through the process and pay for the creation of the LLC. We live in and will be investing in North Carolina. The company I'm working with to form the LLC told me to reach out to a closing attorney to confirm, but my attorney was already out of the office by the time I woke up for work. Any information would be appreciated.

Adam Schneider · Answer

@John Burke. Exactly. As an example, you can have both you and your wife labeled as Member-Managers. Getting into more details here, you can specify who has what authority. The easiest for paperwork purposes is to allow anyone in the LLC to sign documents. Problem solved!

Adam Schneider · Answer

@John Burke The question about who can sign on behalf of your LLC is determined by how YOU set up your LLC. Did you allow any member to sign on behalf of the LLC when you set it up? Check your articles of incorporation...

Francis Ward · Answer

Hi John,

She can use Investor Cash Flow loans to close in LLC with her as the Authorized Rep listed in the NC Sec State filing for the business and in the agreement paperwork.

Francis Ward

John Burke · Answer

@Adam Schneider That is perfect! I can't thank you enough for this information.

John Burke · Answer

@Adam Schneider I haven't mad either LLC yet. So you are saying when the articles of incorporation are drafted, I just need to specify that either party can close on property for the LLC? If so, this is going to make my life much easier.

Can anyone in an LLC close on a property for the LLC? NC

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