Does my LLC need a board of directors?

General Real Estate Investing
1

Thanks for reading my post.

I am working on starting an LLC that uses private investment to buy and rehab properties. My consultant has instructed me to create a board of advisors, which I have done so far. However moving on to the next phase of the business plan shows this:

Professional and Advisory Support
List the following:
• Board of directors (Do I need one?)
• Management advisory board (Putting it together now)
• Attorney (Have one selected)
• Accountant (Have one selected)
• Insurance agent (easy to find)
• Banker (do not have)
• Consultant or consultants (may end up firing as he is VERY SLOW and hard to reach)
• Mentors and key advisors (I have a real estate broker for an advisor.)

I plan to run the business myself and handle all the daily activity, and manage all affairs between the company and other professionals. So do I also need to have a board of directors as well?

2

LLCs have members and managers. There is no board of directors. I hope this consultant isn’t the one who recommended the LLC. If he is, you are getting ineffective advice.