If i used authorised manager to creating my LLC i still should use my real details including address enc when filling CTA and then it's impossible to avoid having the number in FinCEN for life?
Can part owners (members) of LLC Put their 20% member interest in a LLC or limited partnership in DC in a land trust? Is limited partnership interest considers as personal property or not? Thanks very much!
I have a LLC in Virginia. Can I still set up a Wyoming LLC with Virginia under it? I have more questions to ask because I'm still learning. Can you please help me?
When using WY LLC as trustee, and you're the manager, wouldn't you need to sign personally with your own name as manager on any future deeds, which are recorded? While not indexed, still available if someone does their homework and looks at everything carefully, such as the signatures on recorded deeds. Also, isn't the whole thing kabashed if you need to get most bank loans, because you will always need to deed back into your own personal name(s) anyway? So if you sell the property or try to refi, ever, under your own name, with traditional non-portfolio lending, you're creating a record that someone can go download the deeds off the govt website and view signatories. Am I missing something? (And thank you so much your videos are awesome!! Do you offer DIY template packages or only full service?)
When you are deeding property to a trust the trustee of the trust will not sign the deed, only the grantor. If you transfer the property in the future to a buyer you will sign on behalf of the trustee LLC as the manager. Keep in mind we would recommend you dissolve the trust after the transfer out.
Great video but you seem to ALWAYS speak about Real Estate Investors. Are you saying that the Real Estate model works for all types of businesses? If not, will you provide more information that would apply across the board or more easily apply across the board?
Thanks. Does it also make sense to use an LLC name that would be commonly used so as to add confusion as to the identity of the actual LLC? For example, if one were to use "Smith LLC", it would be tougher to find the real one as compared to "Supercalifragilistic LLC"
If the name is commonly used then you won't be able to use the name because someone else using the name. Also if you are using a WY LLC to hold your other LLCs the name is not relevant.
This is amazing information. What about moving LLC to a WY LLC via refinance. Existing New Jersey XYZ LLC no protection. Open a second New Jersey XYZ-2 LLC owned by WY LLC. Refinance property and transfer title from New Jersey XYZ LLC to New Jersey XYZ-2 LLC owned by WY LLC. Will this "erase" the trace back.
Not necessarily. First off can you refi in your LLC. Speak with the lender. You might need to take your property out of the NJ LLC for refinance purposes. After the refi you can then set up an anonymity structure like you describe and repurpose the existing LLC into another business I.e., property management , wholesale, flipping, etc..
That's why most real estate investors you hear boasting about all their properties or portfolio they have to random people, are usually full of crap. The guy that really has all that stuff, understands the importance of coming off like he doesn't
After setting up anonymous llc in Wyoming. When filling out my home state(Florida )annual report.. at the last step it says “ type name of individual signing” Do I type in my Wyoming llc or my actual name ? 👀👀😴
Is this mainly for people with large real estate property or should newbie investors start with this set up from the beginning? This set up sounds pricey and difficult to start for a newbie investor.
What you should consider is do you value the benefit of anonymity? If you see its benefit then this is the foundation of all your planning. If you later decide you do not want your tenants knowing where you live, what you own, etc. then you should set it up in the way I described. If you don't see yourself ever wanting this type of protection then you would not need it. However, there are many other reasons beyond anonymity to use a holding LLC like I described e.g, tax return consolidation, charging order protection, increased borrowing power.
Really enjoyed it. Wanted to send to someone but the skips in the most important phrases made it incoherent for someone who doesn’t watch your videos. I hope you will make more of these but with a a secondary recording in addition to the stream so that you have a smooth one (unaffected by momentary internet lag) to upload. Thank you so much for everything. Super informative! Looking forward to next Saturday 😁
I have a few questions if you could help me understand these? When setting up a land trust and using a lawyer as the nominee trustee, would I record the deed in my name, and then transfer the deed in the land trust's name, or could I record the deed in the land trust's name right away, without ever adding my name and being on the chain of title? My second question is, after the lawyer resigns as nominee trustee and Im the trustee, do I also have to take the lawyer's info off the property tax docs too? My last question is, when dealing with LLCs, when I sign up with a registered agent, do I record my information with the RA and is my info with them private? If you could like this comment so that I know you responded? Thank you.
If you are looking to create an anonymity shield then you would take title in the name of a nominee trustee i.e., John Wick Trustee of the 435 Street Trust. Afterwards the trustee will resign and you will become the trustee (this is set up in the trust document). When the nominee trustee resigns you do not take his name off title or any other documentation until you are ready to refinance or sell. Similar with LLCS you do not want to serve as your own registered agent. If you are listed as the registered agent or incorporator then you will not be able to build an anonymity shield around your business ownership.
If you are looking to run your agent business under an LLC then do not use the WY piece. You agent LLC should be a stand alone entity in the state where you working as an agent.
What would be the procedure to put the property in a land trust since most lenders will want to do the financing in the individuals' names rather than the trust, and which lenders are familiar with this process to facilitate the purchase transaction?
@@ClintCoons I am confused here. Does it mean that I have to first title the property in my name, and keep and not put it into the LandT and the LLC until after the refinancing is completed? Wouldn't then the anonymity chain via the WY LLC not be possible, since I show up in the title history ?
@@mach2982 Yes you will show up in the chain of title. Unfortunately, most lenders sell their loans to Fannie Mae. Fanie Mae does purchase loans made to living trusts or land trusts however, a land trust loan typically requires the lender to negotiate directly with Fannie Mae to get approval. This is time and $$$ for the lender so the lender typically will shy away from lending to a land trust. Further, the property must be located in a state where land trusts are widely used like Illinois or Florida otherwise Fannie won't touch it. In this situation, if you find a lender willing to loan to a living trust but not a land trust we will set up a revocable living trust for closing then restate the trust to a land trust after closing.
Hi Clint, at 48:30 there's an audio skip right before you say the trustee cannot receive any compensation. Seems important, so just wanted to make sure no context was missed. Is that for a specific state or nationwide, and what protections are lost if you do pay that trustee LLC? Thanks.
Seems like Harry Styles from One Direction didn't hide well enough...one hint is that he uses the same format for the names of the LLC's and he has used his manager/close friend, Jeff Azoff too. Lol. To easy. Once one mistake is done it all comes tumbling down. Question, I know that there is a way to have a New Mexico LLC that can have no members at all other then the owner. Montana is also another state that can do that. Is that enough to keep privacy? I assume not because its only one layer of privacy unless if the certificate or whatever its called is private. Would I be correct or is there some knowledge that is missing?
Yes the key is to ensure you are not associated with the LLC that holds the various other companies you create. Using different business addresses for the holding LLC and the sub-llcs is also important. Many little things need to be considered when setting up this type of plan.
@@ClintCoons I cant wait to get on a call with you, and thank you so much. I just want to attend your seminar on Oct. 5th, so I have all my questions lined up! Thank you so so much for the quick replay and being so helpful to all of us!
Clint, Thank you for your great videos. I do have a question and appreciate a response when you have time. Lets assume there are 4 real estate properties and I am collecting rent on all 4. If I create a Living Trust for estate planning purposes and fund the Trust by deeding it the 4 units, I still need to protect these properties with an LLC. If I create one LLC to own the Trust then the LLC would also own whatever else is in the Trust (here being 4 different properties). The problem is If one LLC owns all the properties then there is no limited liability between the units. If one tenant sues me then the other 3 units will be subject to a judgement as well. So my question is, how can I have a Living Trust with 4 real estate funded to it, and also protect each of the real estates with an LLC? Thank you for your time.
You would set up 4 LLCs (1 for each property). The 4 LLCs would be owned by a single WY LLC for anonymity and other reasons I discuss in my other videos. This single WY LLC will be owned 100% by your living trust. As you acquire additional properties you will set up additional LLCs owned by your WY LLC.
This is great content! thank you. I have a question. Two months ago I created my single member Holding LLC in NJ (where I Live) and then I created a new LLC in PA which is owned by my holding LLC in NJ. I have the bank accounts etc already opened for these two LLCs but there is no real estate yet under LLCs. How can I transfer my NJ LLC to WY and keep my name hidden? is it possible? thank you
Yes but you should use a personal property trust to the WY LLC. You do not want to make a direct connection because you are already attached to the PA or NJ LLC and this will give someone a link to your WY LLC by tracing the change in members.
It comes down to being an active investor. You are correct that many attorneys do not invest so they do not understand how entities and real estate work together.
Is it correct to assume Wyoming LLC does NOT require a bank account in Wyoming? Thanks!
No you need a bank account but the bank does not need to be a WY bank.
When applying for EIN no. Is the info provided to IRS available to the public? Ie is it important to use attorneys’ business address instead?
No it is not available to the public
If i used authorised manager to creating my LLC i still should use my real details including address enc when filling CTA and then it's impossible to avoid having the number in FinCEN for life?
Yes
Can part owners (members) of LLC
Put their 20% member interest in a LLC or limited partnership in DC in a land trust? Is limited partnership interest considers as personal property or not? Thanks very much!
You could but it would be a personal property trust not a land trust.
I have a LLC in Virginia. Can I still set up a Wyoming LLC with Virginia under it? I have more questions to ask because I'm still learning. Can you please help me?
Yes you can. In the show notes there is a link to set up a free strategy session.
@@ClintCoons thank you
Very informative and helpful, thanks!
When using WY LLC as trustee, and you're the manager, wouldn't you need to sign personally with your own name as manager on any future deeds, which are recorded? While not indexed, still available if someone does their homework and looks at everything carefully, such as the signatures on recorded deeds. Also, isn't the whole thing kabashed if you need to get most bank loans, because you will always need to deed back into your own personal name(s) anyway? So if you sell the property or try to refi, ever, under your own name, with traditional non-portfolio lending, you're creating a record that someone can go download the deeds off the govt website and view signatories. Am I missing something? (And thank you so much your videos are awesome!! Do you offer DIY template packages or only full service?)
When you are deeding property to a trust the trustee of the trust will not sign the deed, only the grantor. If you transfer the property in the future to a buyer you will sign on behalf of the trustee LLC as the manager. Keep in mind we would recommend you dissolve the trust after the transfer out.
Great video but you seem to ALWAYS speak about Real Estate Investors. Are you saying that the Real Estate model works for all types of businesses? If not, will you provide more information that would apply across the board or more easily apply across the board?
Yes and great idea.
Is it necessary to disclose in what state an LLC was formed? Is the fact that it's not in one's home state part of the anonymity?
No you do not need to disclose the state where the entity is formed.
Thanks. Does it also make sense to use an LLC name that would be commonly used so as to add confusion as to the identity of the actual LLC? For example, if one were to use "Smith LLC", it would be tougher to find the real one as compared to "Supercalifragilistic LLC"
If the name is commonly used then you won't be able to use the name because someone else using the name. Also if you are using a WY LLC to hold your other LLCs the name is not relevant.
How does the Corporate Transparency Act change this talk?
It doesn't. Also check out my video on the Corporate Transparency Act.
This is amazing information. What about moving LLC to a WY LLC via refinance.
Existing New Jersey XYZ LLC no protection.
Open a second New Jersey XYZ-2 LLC owned by WY LLC.
Refinance property and transfer title from New Jersey XYZ LLC to New Jersey XYZ-2 LLC owned by WY LLC. Will this "erase" the trace back.
Not necessarily. First off can you refi in your LLC. Speak with the lender. You might need to take your property out of the NJ LLC for refinance purposes. After the refi you can then set up an anonymity structure like you describe and repurpose the existing LLC into another business I.e., property management , wholesale, flipping, etc..
That's why most real estate investors you hear boasting about all their properties or portfolio they have to random people, are usually full of crap. The guy that really has all that stuff, understands the importance of coming off like he doesn't
You got that right.
After setting up anonymous llc in Wyoming.
When filling out my home state(Florida )annual report.. at the last step it says “ type name of individual signing”
Do I type in my Wyoming llc or my actual name ? 👀👀😴
it would be you - this is why you should use a service to handle our annual renewals.
Is this mainly for people with large real estate property or should newbie investors start with this set up from the beginning? This set up sounds pricey and difficult to start for a newbie investor.
What you should consider is do you value the benefit of anonymity? If you see its benefit then this is the foundation of all your planning. If you later decide you do not want your tenants knowing where you live, what you own, etc. then you should set it up in the way I described. If you don't see yourself ever wanting this type of protection then you would not need it. However, there are many other reasons beyond anonymity to use a holding LLC like I described e.g, tax return consolidation, charging order protection, increased borrowing power.
does alabama's new(2014,2017) llc law revision make it conducive for forming a anonymity structure for llc's
I am not aware of how Alabama LLC act impacts the strategies discussed in this video.
@@ClintCoons thanks, supposedly in 2017 it was changed to mirror Delaware's llc language in order to be more "business friendly"
Really enjoyed it. Wanted to send to someone but the skips in the most important phrases made it incoherent for someone who doesn’t watch your videos. I hope you will make more of these but with a a secondary recording in addition to the stream so that you have a smooth one (unaffected by momentary internet lag) to upload. Thank you so much for everything. Super informative! Looking forward to next Saturday 😁
Thanks for that! I am uploading a better version today
Real Estate Asset Protection Awesome! Thank you.
Awesome information. In minute 17:17, if your WY LLC is the member Manager of the FL LLC, who signs as the Authorized Representative?
You would as the manager of the WY LLC or as an officer of the FL LLC
@@ClintCoons but in Florida your name will be shown in the paperwork if you sign...
I have a few questions if you could help me understand these? When setting up a land trust and using a lawyer as the nominee trustee, would I record the deed in my name, and then transfer the deed in the land trust's name, or could I record the deed in the land trust's name right away, without ever adding my name and being on the chain of title? My second question is, after the lawyer resigns as nominee trustee and Im the trustee, do I also have to take the lawyer's info off the property tax docs too? My last question is, when dealing with LLCs, when I sign up with a registered agent, do I record my information with the RA and is my info with them private? If you could like this comment so that I know you responded? Thank you.
If you are looking to create an anonymity shield then you would take title in the name of a nominee trustee i.e., John Wick Trustee of the 435 Street Trust. Afterwards the trustee will resign and you will become the trustee (this is set up in the trust document). When the nominee trustee resigns you do not take his name off title or any other documentation until you are ready to refinance or sell.
Similar with LLCS you do not want to serve as your own registered agent. If you are listed as the registered agent or incorporator then you will not be able to build an anonymity shield around your business ownership.
Amazing info. All meat no bones👍👍👍
Absolutely! Thanks
Starts at 22:00
Thanks!
What about HR2513 Clint?
To my knowledge it has not become law
@@ClintCoons hasnt passed Senate or 45 to be written in. As things are now they will be affected if it is made law correct?
@@sircarpediem4175 correct
when registering with an agent to start LLC, should I do both at the same time, ie WY and SC, or does it have to be done separately
If you are looking to run your agent business under an LLC then do not use the WY piece. You agent LLC should be a stand alone entity in the state where you working as an agent.
@@ClintCoons thank you can i still purchase properties in other states with my llc even though its designated where i work as your agent.
Clint, well done sir. Love to see more content from you. 👍👍
Thank you kindly
What would be the procedure to put the property in a land trust since most lenders will want to do the financing in the individuals' names rather than the trust, and which lenders are familiar with this process to facilitate the purchase transaction?
First complete the refinancing then move the property into the land trust. Always complete any financing before moving a property into an entity.
@@ClintCoons I am confused here. Does it mean that I have to first title the property in my name, and keep and not put it into the LandT and the LLC until after the refinancing is completed? Wouldn't then the anonymity chain via the WY LLC not be possible, since I show up in the title history ?
@@mach2982 Yes you will show up in the chain of title. Unfortunately, most lenders sell their loans to Fannie Mae. Fanie Mae does purchase loans made to living trusts or land trusts however, a land trust loan typically requires the lender to negotiate directly with Fannie Mae to get approval. This is time and $$$ for the lender so the lender typically will shy away from lending to a land trust. Further, the property must be located in a state where land trusts are widely used like Illinois or Florida otherwise Fannie won't touch it. In this situation, if you find a lender willing to loan to a living trust but not a land trust we will set up a revocable living trust for closing then restate the trust to a land trust after closing.
@@ClintCoons Thanks for that great detailed clarification. I am going to contact your company to set up things on the WY side.
Very very confusing.
Hi Clint, at 48:30 there's an audio skip right before you say the trustee cannot receive any compensation. Seems important, so just wanted to make sure no context was missed. Is that for a specific state or nationwide, and what protections are lost if you do pay that trustee LLC? Thanks.
Correct no compensation.
Can I set up a land trust in Wyoming if my property is in Ga?
I would just up your trust in GA. No need to use WY unless you are setting up a WY statutory trust.
@@ClintCoons yes setting up Wyoming statutory trust. Awesome video, thank you!
Does land trust have to be notarized?
Seems like Harry Styles from One Direction didn't hide well enough...one hint is that he uses the same format for the names of the LLC's and he has used his manager/close friend, Jeff Azoff too. Lol. To easy.
Once one mistake is done it all comes tumbling down.
Question, I know that there is a way to have a New Mexico LLC that can have no members at all other then the owner. Montana is also another state that can do that. Is that enough to keep privacy?
I assume not because its only one layer of privacy unless if the certificate or whatever its called is private.
Would I be correct or is there some knowledge that is missing?
Yes the key is to ensure you are not associated with the LLC that holds the various other companies you create. Using different business addresses for the holding LLC and the sub-llcs is also important. Many little things need to be considered when setting up this type of plan.
can i put my kids as trustee and beneficiary?
You could but I am not sure why you would want to do it.
So I have a Wyoming llc, how do I set it up as manager managed or member managed?
You don't on the WY articles. You draft your LLC operating agreement as member or manager managed.
@@ClintCoons thank you!
The absolute best!!
Appreciate the feedback. If you have any ideas for other videos let me know.
do you guys work with us who are not USA residents? Am I able to open holding company in WA or DE?
Absolutely. If you would like a FREE 30-minute consultation, you can request one here
- aba.link/30minSession
@@ClintCoons I cant wait to get on a call with you, and thank you so much. I just want to attend your seminar on Oct. 5th, so I have all my questions lined up!
Thank you so so much for the quick replay and being so helpful to all of us!
Can family trust own a holding company that owns a operating company to own real estate for amenity
Absolutely
Great content.
thanks
As I set up the Red LLC's, as mentioned at 16:00, do I need to use a second registered agent in the Red state? And is that a separate service?
Yes and Yes otherwise your information will be disclosed.
WAY too much Dropout on the Audio. Tech Guy must not be so techie.
Yes this was on UA-cam's end. I am uploading a copy today with clear audio.
Clint,
Thank you for your great videos. I do have a question and appreciate a response when you have time.
Lets assume there are 4 real estate properties and I am collecting rent on all 4. If I create a Living Trust for estate planning purposes and fund the Trust by deeding it the 4 units, I still need to protect these properties with an LLC. If I create one LLC to own the Trust then the LLC would also own whatever else is in the Trust (here being 4 different properties). The problem is If one LLC owns all the properties then there is no limited liability between the units. If one tenant sues me then the other 3 units will be subject to a judgement as well. So my question is, how can I have a Living Trust with 4 real estate funded to it, and also protect each of the real estates with an LLC?
Thank you for your time.
You would set up 4 LLCs (1 for each property). The 4 LLCs would be owned by a single WY LLC for anonymity and other reasons I discuss in my other videos. This single WY LLC will be owned 100% by your living trust. As you acquire additional properties you will set up additional LLCs owned by your WY LLC.
Great information 👍 Thank you for doing this!
Glad it was helpful!
This is great content! thank you. I have a question. Two months ago I created my single member Holding LLC in NJ (where I Live) and then I created a new LLC in PA which is owned by my holding LLC in NJ. I have the bank accounts etc already opened for these two LLCs but there is no real estate yet under LLCs. How can I transfer my NJ LLC to WY and keep my name hidden? is it possible? thank you
Yes but you should use a personal property trust to the WY LLC. You do not want to make a direct connection because you are already attached to the PA or NJ LLC and this will give someone a link to your WY LLC by tracing the change in members.
Most (so called) real estate attorney don't know shit about asset protection.
It comes down to being an active investor. You are correct that many attorneys do not invest so they do not understand how entities and real estate work together.