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All Forum Posts by: Thadeous Larkin

Thadeous Larkin has started 12 posts and replied 81 times.

Post: Partnering with Friends to Invest in Multifamily

Thadeous LarkinPosted
  • Colorado Springs, CO
  • Posts 85
  • Votes 144

@Andy Cav, I hope you don't mind if I hijack your thread by dovetailing off of it. Many LLC agreements are drawn up with VERY BROAD terms ("Members shall act in accord with the decisions of the Majority in Interest of the Members..." etc. etc.). So roles and responsibilities might not make their way into it.

To that end, I want to re-ask your question to Sam.

@Sam Grooms - I see advice like yours above ("give everyone roles") quite a bit It seems like great advice, but I have a two part follow-up: 1) Are you putting the roles and responsibilities right into your LLC agreements, or using an addendum? Not asking legal advice, just your personal preference; and 2) Do you, or anyone else, have good resources for what roles/responsibilities to expect, especially for newbies? Like a checklist?

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