What if my LLC acts as a Real Estate investment "fund" as in there are a couple of properties in the LLC and I bring in an investor, who for a certain amount of money would get a certain contracted return on investment, but not grow as the company does. Is this possible to do by adding them as a limited partner? Can I write them down as lets say $100,000 equity instead of percentage?
I suppose anything is possible. It sounds like the person is basically a hard money lender. I would make them a lender and just have a note that defines their return. That is easier than having another member in your LLC. Members can be a pain. You can’t make someone a limited partner in an LLC. LLCs only have members. A member is a participant in the company ownership. It would be messy to cap their ownership interest at a certain value.
Lee! Excellent videos. I just started an LLC in the state of Wyoming because it has minimal restrictions. I'm from Rhode Island and the business is a mobile app development company, which sells through the Apple App Store. Do I need to worry about RI laws or Wyoming? I figure Wyoming because that's where the company is filed, also I have a registered agent (Legal Zoom) so I'm covered on that basis. Questions - Operator's Agreement for the State of Wyoming, Should I just grab one online or pay legal zoom to do it? Adding Members - Should I keep paying $100 to Legal Zoom or is there a template I can just add people to and file it off myself? Non-Disclousre Agrement - Can I add a non-compete clause? - Thank you for your videos, they've been helping me through this.
The operating agreement is your rule book for your company. You will want to make sure that it cover everything that you need to cover to get the most asset protection out of it. Legal Zoom doesn't not have a very good operating agreement. You can see ours at www.legalees.com/llc-complete-operating-agreement/
If you are adding members you just need to amend the operating agreement and in your annual filing with the state. You can also find a cheaper registered agent for Wyoming. A non-compete clause can be added to the operating agreement if you would like. You just need to make sure that it is not unreasonable.
legalees , I’m here from your video ‘ how to put an llc into a trust’ and in your comment to Brian you say that the trust is a member of the llc . So does the trust get charging order protection ? Am I missing something ?
I have watched 3 videos about adding a member to your llc and none of them said how to add a member to an LLC.
Does this one explain it in a way you understand?
@@Legaleescorp this one is the third
😂😂😂😂
What if my LLC acts as a Real Estate investment "fund" as in there are a couple of properties in the LLC and I bring in an investor, who for a certain amount of money would get a certain contracted return on investment, but not grow as the company does. Is this possible to do by adding them as a limited partner? Can I write them down as lets say $100,000 equity instead of percentage?
I suppose anything is possible. It sounds like the person is basically a hard money lender. I would make them a lender and just have a note that defines their return. That is easier than having another member in your LLC. Members can be a pain. You can’t make someone a limited partner in an LLC. LLCs only have members. A member is a participant in the company ownership. It would be messy to cap their ownership interest at a certain value.
@@Legaleescorp got you thanks a ton
Lee! Excellent videos. I just started an LLC in the state of Wyoming because it has minimal restrictions. I'm from Rhode Island and the business is a mobile app development company, which sells through the Apple App Store. Do I need to worry about RI laws or Wyoming? I figure Wyoming because that's where the company is filed, also I have a registered agent (Legal Zoom) so I'm covered on that basis.
Questions -
Operator's Agreement for the State of Wyoming, Should I just grab one online or pay legal zoom to do it?
Adding Members - Should I keep paying $100 to Legal Zoom or is there a template I can just add people to and file it off myself?
Non-Disclousre Agrement - Can I add a non-compete clause?
-
Thank you for your videos, they've been helping me through this.
The operating agreement is your rule book for your company. You will want to make sure that it cover everything that you need to cover to get the most asset protection out of it. Legal Zoom doesn't not have a very good operating agreement. You can see ours at www.legalees.com/llc-complete-operating-agreement/
If you are adding members you just need to amend the operating agreement and in your annual filing with the state. You can also find a cheaper registered agent for Wyoming.
A non-compete clause can be added to the operating agreement if you would like. You just need to make sure that it is not unreasonable.
@@Legaleescorp can you recommend a wyoming agent?
Thank you!!!!
Some segments in the video are stamped not adjacent to each other
I’d love to learn more about Trust LLC formation
I have lots of videos on that on my channel and more information on my website at legalees.com
legalees , I’m here from your video ‘ how to put an llc into a trust’ and in your comment to Brian you say that the trust is a member of the llc . So does the trust get charging order protection ? Am I missing something ?
Your awesome.