Hi I'm a UK citizen travelling to Atlanta in Jan to buy properties. I have a couple of questions: Can anyone advise the best on-line company for setting up an LLCompany? I've looked at http://us-company-for-non-resident.com and they charge $1300 to setup (not including state fees.) Then its a further yearly charge of $300 (not including state fees) to keep the company alive. Also can anyone recommend a reputable property manager in Atlanta. I've read a lot of conflicting threads on this and other forums but what I'm starting to suspect is top rental returns have over stretched themselves.
Hit me on my email .We are in Atlanta and have a good company we use there can refer you to for property management.. That's about average price for LLC, Our SC attorney is cheaper then out NC attorney.. Atlanta Attorney is about the same price as Charlotte NC…hope that helps.
Where in the UK are you located if you don't mind me asking…
Sincerely
AlexWow, those fees sound ridiculous. We charge $300 to setup and LLC, bank account and EIN, and it’s $100 per year after that to act as your registered agent. We work in Michigan, so I can’t speak directly for Atlanta, but I’m shocked at those prices to simply setup an LLC.
Now, I will say this, if they are setting up an operating agreement (which we do not), then I can see charging a bit more, but I still wouldn’t expect to pay more than $600-$700.
I would keep looking for another provider…you should be able to find better options…
I have used Inc Paradise in NV to set up 2 LLC's.
For about $350 they will set up the LLC and provide a vanilla operating agreement and 2 years of registered agent fees. Just look on their site for the sample documents and services provided.
If you are going to use Top rental returns then as part of the initial purchase they will provide a LLC as the property is purchased into an LLC. It will cost you about $200 when using Top rental. They will act as the registered agent for the first year.
North Atlanta Law will provide a very specific operating agreement for about $600. Speak to Mike Jacobs.
Getting the EIN for your LLC is as simple as a phone call to the IRS, just be aware of the form to use when calling them.
No need to get a bank account until you are in Atlanta. Top rental can direct you to a person in Wells Fargo who will arrange to open an account immediately. You will need the LLC formation documents and passport etc. Opening a persoall account is even easier.
Good luck with your trip.
Alex SC wrote:Hit me on my email .We are in Atlanta and have a good company we use there can refer you to for property management.. That's about average price for LLC, Our SC attorney is cheaper then out NC attorney.. Atlanta Attorney is about the same price as Charlotte NC…hope that helps.Where in the UK are you located if you don't mind me asking…
Sincerely
AlexHi Alex
Thanks for the advice, my partner’s dealing with the property management side of things, I’ve passed your details onto her and she will be in touch soon.
Thanks again
click85usainvestor wrote:I have used Inc Paradise in NV to set up 2 LLC's.For about $350 they will set up the LLC and provide a vanilla operating agreement and 2 years of registered agent fees. Just look on their site for the sample documents and services provided.
If you are going to use Top rental returns then as part of the initial purchase they will provide a LLC as the property is purchased into an LLC. It will cost you about $200 when using Top rental. They will act as the registered agent for the first year.
North Atlanta Law will provide a very specific operating agreement for about $600. Speak to Mike Jacobs.
Getting the EIN for your LLC is as simple as a phone call to the IRS, just be aware of the form to use when calling them.
No need to get a bank account until you are in Atlanta. Top rental can direct you to a person in Wells Fargo who will arrange to open an account immediately. You will need the LLC formation documents and passport etc. Opening a persoall account is even easier.
Good luck with your trip.
Thanks for the tip, I’ve looked at Inc Paradise on line and they appear geared up to represent the state of Nevada only. I’ve read in a few places that your LLC is better located at an address that’s in the same state as your investment property.If so that would narrow my options, can anyone clarify this?
ToddBrittingham wrote:Wow, those fees sound ridiculous. We charge $300 to setup and LLC, bank account and EIN, and it’s $100 per year after that to act as your registered agent. We work in Michigan, so I can’t speak directly for Atlanta, but I’m shocked at those prices to simply setup an LLC.Now, I will say this, if they are setting up an operating agreement (which we do not), then I can see charging a bit more, but I still wouldn’t expect to pay more than $600-$700.
I would keep looking for another provider…you should be able to find better options…
Hi Todd
Thanks for the advice. In your opinion, if I’m the sole owner of the company do I require an operating agreement?
click85 wrote:usainvestor wrote:I have used Inc Paradise in NV to set up 2 LLC's.For about $350 they will set up the LLC and provide a vanilla operating agreement and 2 years of registered agent fees. Just look on their site for the sample documents and services provided.
If you are going to use Top rental returns then as part of the initial purchase they will provide a LLC as the property is purchased into an LLC. It will cost you about $200 when using Top rental. They will act as the registered agent for the first year.
North Atlanta Law will provide a very specific operating agreement for about $600. Speak to Mike Jacobs.
Getting the EIN for your LLC is as simple as a phone call to the IRS, just be aware of the form to use when calling them.
No need to get a bank account until you are in Atlanta. Top rental can direct you to a person in Wells Fargo who will arrange to open an account immediately. You will need the LLC formation documents and passport etc. Opening a persoall account is even easier.
Good luck with your trip.
Thanks for the tip, I've looked at Inc Paradise on line and they appear geared up to represent the state of Nevada only. I've read in a few places that your LLC is better located at an address that's in the same state as your investment property.If so that would narrow my options, can anyone clarify this?
They can establish an LLC for any state and have registered agent in each state. I forget where to go on their site but it's there. Alternatively you can ring them and they will do it all over the phone (that's what I did)
By the way you can phone anywhere in the USA for free using gmail phone. This includes mobiles. I have run up many hours of call and hasn't cost a cent.
usainvestor wrote:click85 wrote:usainvestor wrote:I have used Inc Paradise in NV to set up 2 LLC's.For about $350 they will set up the LLC and provide a vanilla operating agreement and 2 years of registered agent fees. Just look on their site for the sample documents and services provided.
If you are going to use Top rental returns then as part of the initial purchase they will provide a LLC as the property is purchased into an LLC. It will cost you about $200 when using Top rental. They will act as the registered agent for the first year.
North Atlanta Law will provide a very specific operating agreement for about $600. Speak to Mike Jacobs.
Getting the EIN for your LLC is as simple as a phone call to the IRS, just be aware of the form to use when calling them.
No need to get a bank account until you are in Atlanta. Top rental can direct you to a person in Wells Fargo who will arrange to open an account immediately. You will need the LLC formation documents and passport etc. Opening a persoall account is even easier.
Good luck with your trip.
Thanks for the tip, I've looked at Inc Paradise on line and they appear geared up to represent the state of Nevada only. I've read in a few places that your LLC is better located at an address that's in the same state as your investment property.If so that would narrow my options, can anyone clarify this?
They can establish an LLC for any state and have registered agent in each state. I forget where to go on their site but it's there. Alternatively you can ring them and they will do it all over the phone (that's what I did)
By the way you can phone anywhere in the USA for free using gmail phone. This includes mobiles. I have run up many hours of call and hasn't cost a cent.
Thanks again
To start with the first question – I would also agree that paying $1.300 to set up an LLC sounds very high, filing fees in most states are usually just a few hundred although there might be exceptions that I am not aware of.
We have helped some of our clients who wanted to take the "DIY" approach and form the LLC themselves, and we can send them a "vanilla" Operating agreement that is good enough for the basic functions such as opening bank accounts etc, although it doesn't provide any further protection or guidance.
You do need the operating agreement (as far as I am aware) no matter how many members and managers you have, it forms the basis of the company.Getting an EIN as mentioned is very easy, there is a dedicated number for people from outside the US and without either ITIN# or a SS#, so although it can be a pain with the time difference for you guys, it can be done:-)
It can be beneficial sometimes to be incorporated in the state where you do business, especially when dealing with utility companies etc, although it won't have any impact for tax reasons etc.
If you would like to have one of the operating agreements, please just email me.
Thankyou I’ll be in contact
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