I am a Dutch e-commerce entrepreneur. Planning to invest in real estate and private equity globally as a nomad. It's been almost 1.5 years since I've devoted my time to watch every one of your videos in order to gain the best understanding on how to protect my businesses and myself. When it comes to asset protection, nobody else on TH-cam can describe it as well as you can in my opinion. You've been the ideal teacher for me. You have my sincere gratitude for it. Without a doubt, I want to collaborate with you👌👍
What vid do you have on inherited property that is owned outright with no mortgage? You and your partner, Toby, do an outstanding job of informing folks on how to conduct out business.....thank, you for that 'eh.
I do not have one that speaks to what you mention because the inherited property is either a rental or residence to you so it would be covered as such in my videos.
2:05 - - search if LENDER sold the loan to Freddie or Fannie 3:13 - - Freddie + Fannie underwriting guidelines 3:27 - - if the borrower has to refinance for “change of ownership” - - shouldn’t the lender if they sell the loan?
So I had a property with mortgage in a trust with Grantor as Me and Beneficiary as LLC. Would it be best to refinance the mortgage or do a normal mortgage which would have a tax transaction from the LLC standpoint? Also what is usually the price tag when opening a LLC?
Does the state LLC only list the WY LLC as member (meaning the owner) and not any individual or entity as the manager? Does not that prevent the person from getting a bank account for the state LLC?
@ClintCoons I was referring to the owner's capacity of opening a bank account for the RE LLC, if we decide to go that route. Is it possible since the owners are not really listed in any documents other than the WY LLC Operating agreement?
How can I find if my rental has a mortgage? Landlords changed it to LLC then stated they're selling but in reality it's retaliation. am I privy to this information?
Kennedys a bit off on that one. Illegals aren't driving up the cost of home ownership. The government printing money and Hedge funds are the largest cause of price Increases on houses.
The tech industry is also manipulating the cost of real estate. Zillow is specifically overinflating the value of real estate for BlackRock, State Street, Vanguard, etc.
My father recently passed, and I am going to be inheriting his house. I have never bought a home myself, I live in the house now, and I want to put it into an LLC and rent space to both myself and my other running business. With this being an inheritance situation, how do I get the property under an LLC with the lowest tax liability and best future tax benefits? The loan is through a local credit union in southwest Michigan and is currently held by fannie mae.
In 96 my mother worked for $11 an hour 50 hours a week and was able to get a 48k mortgage on a 1600sqf home from saving $200 a month for 2 years. Now I make $21 an hour 55 hour work weeks and... I live paycheck to paycheck in Lowe income government assistant housing because renting anything else would eat 2/3 my paycheck. I'll never afford to buy a house
Look into first-time home buyer grants in your area for down payment assistance. Get out of debt and save everything you can. Find a way to increase your income. Home ownership is possible!
I really don’t know what you are doing wrong, because i made $18/hr and was able to save $20k in 1-2 years. And I live in California. I also bought takeout every night. You should look at your monthly spending and see what you can do to lower your monthly bills. Do you have frivolous things like gym or Netflix membership? You need to really look at your monthly spending to see where all your money is going.
@@lang-ed3bk Did you have kids during that time? Or other people dependent on you? Pets? School bills? You don't know what this person is having to pay for lol
I don't plan to mortgage a home to put in a LLC. I'd rather buy the land, get a land patent, then put it in a land trust and then in a revocable trust. Then build a home my way no mortgage. Only loan I would get is a construction loan, then to transfer that to a mortgage that is mine and not a banks?
Then place an insurance policy on all of it. This way, the trust is funded and it also funds other trust controlled by 9 other trust of different types. And all, managed by a forigen trust and LLC.
I thought thats the Reason I pay for renters insurance???? Amen Im with u I'll never change it to nobodys name but mines I own both my properties free & clear.❤❤❤❤❤
LLC's are for holding, keeping properties long term.. Have an S Corp for management and repairs. You might need several LLC's for what your doing. Mark Kohler is an excellent source to research. He's the author of "Lawyers are Liars" and "What your CPA isn't telling you". He helped us set stuff up for under $2k. Also my life long friend owns over 55 multifamily properties with thousands of units making Grant Cardone look poor in comparison. My advice, find someone to mentor you whom actually has made millions with hands on experience. That's the key.
@@NSWSES1990 because Wyoming gives you anonymity and charging order protection. Clint has a bunch of videos on his channel that explains it in greater detail.
That is what insurance is for. Putting real into a LLC is extremely stupid as you lose all of the personal tax deductions and your tax rate on all income will go through the roof.
The headline says "LLC".. But, nearly ten minutes into a clip of a couple thousand words, he has STILL not said what the three letters. (L L C) mean. Readers should not have to stop and go elsewhere and research what those three letters mean...and the actual WORDS I am finished .
This is all BS..if you have any type of mortgage on your property the bank willNOT allow you to title it in an LLC! I tried this and it does NOT work. You better own the property out right….otherwise..forget it.
It will depend if our mortgage is held by fannie or freddie. If so then it is permissible. If your mortgage is held by your lender then I suggest the use of a land trust. If you would like a FREE 30-minute consultation, you can request one here - aba.link/clintss or you can send me an email at ccoons@andersonadvisors.com, and I will have someone contact you.
Would you like to dive deeper into LLCs for rental properties? Schedule a free consultation here: aba.link/6jt
I am a Dutch e-commerce entrepreneur. Planning to invest in real estate and private equity globally as a nomad. It's been almost 1.5 years since I've devoted my time to watch every one of your videos in order to gain the best understanding on how to protect my businesses and myself. When it comes to asset protection, nobody else on TH-cam can describe it as well as you can in my opinion. You've been the ideal teacher for me. You have my sincere gratitude for it. Without a doubt, I want to collaborate with you👌👍
That is awesome. Thank you so much.
@@ClintCoons You are most welcome
can I do this if I'm planning on living on the property too
Best advice love this guy. I do need help putting my rental properties in a Land Trust here in Dallas TX.
Thanks for the support. Reach out to my team for a free consultation aba.link/6jt
What vid do you have on inherited property that is owned outright with no mortgage? You and your partner, Toby, do an outstanding job of informing folks on how to conduct out business.....thank, you for that 'eh.
I do not have one that speaks to what you mention because the inherited property is either a rental or residence to you so it would be covered as such in my videos.
Best advice ever. I’m calling you.
What about the property insurance? Do I transfer it to an investment or do I keep it as my personal property insurance?
have you looked at your increaed insurance policy this year¿
I am buying more investment properties in Florida.
I am not leaving.
2:05 - - search if LENDER sold the loan to Freddie or Fannie
3:13 - - Freddie + Fannie underwriting guidelines
3:27 - - if the borrower has to refinance for “change of ownership” - - shouldn’t the lender if they sell the loan?
So I had a property with mortgage in a trust with Grantor as Me and Beneficiary as LLC. Would it be best to refinance the mortgage or do a normal mortgage which would have a tax transaction from the LLC standpoint?
Also what is usually the price tag when opening a LLC?
If your LLC is treated for federal tax purposes as a partnership or disregarded entity, you will not have negative tax consequences with a mortgage.
Owner occupied- Have a Living will and place in name of Trust ?
Great video 🎉this is important to share as many don’t know the differences.
You got it.
Does the state LLC only list the WY LLC as member (meaning the owner) and not any individual or entity as the manager? Does not that prevent the person from getting a bank account for the state LLC?
Correct on the filing but a claim against the state LLC will give a creditor access to whatever it owns.
@ClintCoons I was referring to the owner's capacity of opening a bank account for the RE LLC, if we decide to go that route. Is it possible since the owners are not really listed in any documents other than the WY LLC Operating agreement?
And i think the WY LLC is also listed as the manager, based on your other responses... not the state PM LLC.
Great information to protect your property!
I'm glad you found the information helpful.
Como puedo saber q propiedad no reclamada tengo que dice el IRS y EDD
Does this apply to real estate investments abroad, as well?
It would depend on how title can be taken in a foreign country
How can I find if my rental has a mortgage? Landlords changed it to LLC then stated they're selling but in reality it's retaliation. am I privy to this information?
Look at title and see if a new lender has secured an interest in the property or if the existing note was paid off.
Kennedys a bit off on that one.
Illegals aren't driving up the cost of home ownership. The government printing money and
Hedge funds are the largest cause of price Increases on houses.
The tech industry is also manipulating the cost of real estate. Zillow is specifically overinflating the value of real estate for BlackRock, State Street, Vanguard, etc.
Is it better to start a LLC first and then purchase an investment property 🤔
Only if you know where you plan to buy.
is it working in canada ?
Not sure
Is a land trust the same as an irrevocable living Trust?
They are similar, but the land trust has beneficial interests that are assignable.
land trusts -' are Grantor trusts.🎉
Great info
Thank you for your great content.
My pleasure!
I'll watch all your videos
thanks for the support
Thank you i really need your knowledge
Like I’m going to go through all that expense and rigmarole when I can just buy insurance. Smart guy.
What if the property is already in a Revocable Living Trust - does it need to be switched to a Land Trust?
Is it an investment property or residence?
@@ClintCoons Currently our residence but hoping to move next year and rent it out (so would become investment)
land trusts are revocable trusts held by independant, anonymous, trustees
My father recently passed, and I am going to be inheriting his house. I have never bought a home myself, I live in the house now, and I want to put it into an LLC and rent space to both myself and my other running business. With this being an inheritance situation, how do I get the property under an LLC with the lowest tax liability and best future tax benefits? The loan is through a local credit union in southwest Michigan and is currently held by fannie mae.
You will need to speak to a local atty on this issue. The lender will most likely require you to switch the mortgage to your personal name.
And many banks won't lend on properties titled as an LLC
Correct you need a DSCR loan
Sage advice
In 96 my mother worked for $11 an hour 50 hours a week and was able to get a 48k mortgage on a 1600sqf home from saving $200 a month for 2 years.
Now I make $21 an hour 55 hour work weeks and... I live paycheck to paycheck in Lowe income government assistant housing because renting anything else would eat 2/3 my paycheck. I'll never afford to buy a house
Look into first-time home buyer grants in your area for down payment assistance. Get out of debt and save everything you can. Find a way to increase your income. Home ownership is possible!
I really don’t know what you are doing wrong, because i made $18/hr and was able to save $20k in 1-2 years. And I live in California. I also bought takeout every night.
You should look at your monthly spending and see what you can do to lower your monthly bills. Do you have frivolous things like gym or Netflix membership? You need to really look at your monthly spending to see where all your money is going.
@@lang-ed3bk Did you have kids during that time? Or other people dependent on you? Pets? School bills? You don't know what this person is having to pay for lol
@@vennabanana and that is why I said he should really look at his monthly spending to see where all his money is going.
Thank you for voting Democrat!
👍🏾👍🏾
🎉
Hello 😂😂😂😂😂😂😂😂😢😢😢😢😢😢😢😢😢😢😢 and the other team of the team 😂😂😂😂 and 😢😢😢😢😢😢😢😢😢😮😢😊
I don't plan to mortgage a home to put in a LLC. I'd rather buy the land, get a land patent, then put it in a land trust and then in a revocable trust. Then build a home my way no mortgage. Only loan I would get is a construction loan, then to transfer that to a mortgage that is mine and not a banks?
Then place an insurance policy on all of it. This way, the trust is funded and it also funds other trust controlled by 9 other trust of different types. And all, managed by a forigen trust and LLC.
There is no debt when you doing it from scratch.
why do you need 2 trusts?
Absolutely NOT. I will OWN MY PROPERTIES...and I will NOT allow any CON ARTIST or SCAM Artist.... to STEAL MY Portfolio.
Well, good luck with that...
I thought thats the Reason I pay for renters insurance???? Amen Im with u I'll never change it to nobodys name but mines I own both my properties free & clear.❤❤❤❤❤
@carlawillis2508 Well....good luck with that!!!
LLC's are for holding, keeping properties long term.. Have an S Corp for management and repairs. You might need several LLC's for what your doing. Mark Kohler is an excellent source to research. He's the author of "Lawyers are Liars" and "What your CPA isn't telling you". He helped us set stuff up for under $2k. Also my life long friend owns over 55 multifamily properties with thousands of units making Grant Cardone look poor in comparison. My advice, find someone to mentor you whom actually has made millions with hands on experience. That's the key.
Do you have best state to set up an LLC… and their differences?
You'd need to set up an LLC in whatever state your rental property is in and then tie that to a Wyoming LLC for the anonymity.
@@Chunsoffunwhy Wyoming? Why not NV or Delaware?
@@NSWSES1990 because Wyoming gives you anonymity and charging order protection. Clint has a bunch of videos on his channel that explains it in greater detail.
@@Chunsoffun do you know the title of the video?
Why would you take a loan out to buy an investment property? What a scam 🤡
That is what insurance is for. Putting real into a LLC is extremely stupid as you lose all of the personal tax deductions and your tax rate on all income will go through the roof.
Huh! If your tax preparer told you that you should find better counsel.
better is a two tiered llc.. to strip the equity ... for asset protection ! costly but workable
Hello 😂😂😂😢😢😢😢😮😂
The headline says "LLC".. But, nearly ten minutes into a clip of a couple thousand words, he has STILL not said what the three letters. (L L C) mean.
Readers should not have to stop and go elsewhere and research what those three letters mean...and the actual WORDS
I am finished .
Limited Liability Company.
I think it's limited liability corporation
This is all BS..if you have any type of mortgage on your property the bank willNOT allow you to title it in an LLC! I tried this and it does NOT work. You better own the property out right….otherwise..forget it.
It will depend if our mortgage is held by fannie or freddie. If so then it is permissible. If your mortgage is held by your lender then I suggest the use of a land trust. If you would like a FREE 30-minute consultation, you can request one here
- aba.link/clintss or you can send me an email at ccoons@andersonadvisors.com, and I will have someone contact you.
Yous about to pig on that oink dog (cencored😢 for youtube)
get a modern banker!😅
This should all be illegal. At the very least, it's an attempt in fraud to avoid liability.
Excelent explanation how always.