Need help reviewing this Agreement

[Rafael Scotti]

Hello,

Im from outside USA and I want to start investing in multifamily real state. I found a company that does basically everything for foreigners and then charge 10% of the rent. They opened an LLC for me and sent me an agreement to sign, can someone help me and check if its okay to sign or I should be worried about something. Thanks in advance

There are more pages than what I uploaded but this should be enough to see if its all ok.

Also is it too much 10% of rent or is that normal for people who manage everything.

[David Gotsill]

Having a non-US person invest through a single-member LLC is a commonly used approach.  But as to whether this particular LLC Agreement is good for you?  I think you're going to either need to engage an attorney for review (best), build some non-attorney contacts who can comment on whether or not it seems customary (better), or just risk it (first, of course, trying to understand the full scope of the risk).  Presumably you're investing a fair amount, either as an accredited investor in a 506(c)/(b) or as a sophisticated investor in a 506(b), and the few hundred dollars for a proper review might be worth it?

[David Gotsill]

Having a non-US person invest through a single-member LLC is a commonly used approach.  But as to whether this particular LLC Agreement is good for you?  I think you're going to either need to engage an attorney for review (best), build some non-attorney contacts who can comment on whether or not it seems customary (better), or just risk it (first, of course, trying to understand the full scope of the risk).  Presumably you're investing a fair amount, either as an accredited investor in a 506(c)/(b) or as a sophisticated investor in a 506(b), and the few hundred dollars for a proper review might be worth it?

[J Zev J.]

@Rafael Scotti - You should definitely hire an attorney to review this. Also, beware of the IRS filing requirements for foreign owners of an LLC.

[Connor O'Brien]

So you are the sole member and manager? Or is there another party involved?