Real Estate Investment — Property Owned By Limited Liability Company

Sample Single-Member LLC Operating Agreement

This template can be used for single-member limited liability companies formed in any U.S. state. It is simple, four pages in length, and is intended to provide the minimum content necessary to satisfy banks, other lenders, title companies, and governmental authorities in situations where the owner of the LLC needs to perform a function such as opening a bank account, acquiring or transferring property, signing a contract or other legal document, etc.

Sample Two-Party LLC Operating Agreement

This template is for an LLC with two members (with each husband and wife pair counted as one member), created to own, operate, and manage a single rental property that is not owner-occupied. It can be used for limited liability companies created in any U.S. state. It is 17 pages in length, and written in plane English with the minimum amount of legal jargon.

Sample 3+ Member LLC Operating Agreement (Member-Managed)

This template is for an LLC with at least 3 members (with each husband and wife pair counted as one member) who will be actively involved in operating the company. The agreement is designed for companies that will operate, and manage a single rental property that is not owner-occupied. It can be used for limited liability companies created in any U.S. state. It is 17 pages in length, and written in plane English with the minimum amount of legal jargon.

Sample Manager — Controlled LLC Operating Agreement

The template is for an LLC that will be operated by a single manager who will have complete control over the day-to-day activities of the project, and will have almost total decision-making authority. It is designed for a limited liability company that will own, operate, develop and manage a single real estate project, and is not suitable for one that will be involved in multiple real estate projects or a real estate investment fund. This Operating Agreement form can be used for limited liability companies created in any U.S. state and is nine pages in length.