In this video, I’m going to talk about some costly mistakes that I see often when I review existing operating agreements that people have set up with inexperienced attorneys that are not familiar with creating operating agreements for real estate investors.
Would you like to learn more about structuring your LLC? 👉 Schedule a free consultation here: https://aba.link/2e7799
Before you download a free template or pay for a form document, you need to know what’s really in your operating agreement.
We’ll discuss the hidden dangers of using generic LLC templates—especially those created by so-called “entity mills.”
We walk through a real example of a poorly drafted agreement, showing how vague business clauses, weak management provisions, and missing charging order protections can leave your assets exposed.
Whether you’re flipping houses, holding rentals, or forming joint ventures, a customized agreement can make or break your protection in audits or lawsuits.
Chapters:
0:00 – Intro: Why your LLC operating agreement matters
3:17 – Business purpose clause red flags
6:00 – Problems with payments to members
7:59 – Management powers and brokerage issues
10:00 – Annual meetings and compliance pitfalls
11:45 – Distributions and control conflicts
13:27 – Banking authority inconsistencies
14:54 – Missing members and critical protections
16:00 – Charging orders and tax allocation gaps
17:30 – Final thoughts
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CONTACT US
Phone: 800.706.4741
Email: info@andersonadvisors.com
Fax: 702.664.0545
ABOUT CLINT COONS
Clint Coons, Esq. has grown his legal and tax firm to over 400 employees by assisting real estate investors with creating and implementing solid entity structuring plans. His success in these regards is in large part due to his personal investing experience. A successful attorney, real estate investor, and speaker, Clint has used his innovative and dynamic strategies coupled with knowledge borne from experience to help thousands of people save millions of dollars and build real wealth.
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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.
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