What are you paying for legal these days, Operating Agreement

Portland, Oregon
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What are you paying for legal these days, Operating Agreement

Genna Golden
Rental Property Investor · Portland, OR · Member since 2009 · 82 posts · 30 votes

Hi All,

I'm admitting a new member to my operating agreement and need to make several changes. My attorney now charges $470/hour. I appreciate their skill, and recognize the importance of the document, but can't believe how high rates are. I'm curious: What are your experiences and what rates do you pay your trusted RE attorney. I do subscribe to Rocket Legal, which is great, but feel this is higher level and want to go outside of platform for counsel. His estimate is $3000-$8000 for completing the OA. Previous OAs have cost in 7K range.

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  • Harry B.Pro Member
    Lender · New York, NY · Member since 2026 · 56 posts · 19 votes
    22h

    Since no one answered in a month,,,, Have you tried a basic AI platform to save you a ton of money? I'm not selling any platform, just suggesting that paying $470 per hour for a 5 minute task is bananas.

    [email protected]917-348-2846
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  • Genna Golden
    OP
    Rental Property Investor · Portland, OR · Member since 2009 · 82 posts · 30 votes
    21h

    Yes, we are going back and forth with AI right now, which is great. it suggests copy and analyzes for me. I will have my attorney review it prior to signing, however.

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  • Amit PatelBusiness Member
    Property Manager · Bartlett, IL · Member since 2025 · 148 posts · 59 votes
    20h

    Those numbers are high, but they are not unusual for a trusted real estate attorney on an operating agreement with a new member. Four hundred seventy an hour and a three to eight thousand dollar estimate can make sense if the document needs real changes, tax language, and buyout terms. It feels painful when Rocket Lawyer covers the simple stuff.

    What I have seen work better is asking for a flat fee for a defined scope: admit the new member, update the ownership percentages, and clean the sections that actually change. Hourly billing on an open ended rewrite is where the bill runs. Some owners use a business attorney who does a lot of LLC work rather than a full real estate litigator for this piece.

    The document is worth doing right. A sloppy operating agreement costs more later than the legal fee. Just get the scope in writing so you are not paying for a full redraft if you only need a membership admission.

    If you want to compare how o

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