Clint, first off, let me say you and your partner are doing a fantastic job. I've watched several of your videos, and subscribe to you both. This video was a great step by step walkthrough of how to put together a SDIRA. You may already do this, but if you could have an overview version of this topic, as well as the step by step version, that would be perfect. Anyway, thanks for your work, be well.
If I transfer a private property that has a mortgage to a Land Trust being held by an LLC New York, do I have to record it? Can I rent myself this property?
A deed is not required to be recorded to make a property transfer legal. So yes you can do as you described but you will not have any anonymity with the property ownership without recording the deed.
In that scenario where there is shared ownership btw the Wy LLC and the IRA because of insufficient funds in the IRA, if I have 100k each in the IRA and my Wy LLC, can I buy two separate properties owned by two separate LLCs (owned jointly by my IRA and Wy LLC) and contribute 50K to each property LLC out of each vehicle so that each (IRA & Wy LLC) now have joint ownership of two separate properties instead of just one. And is it repeatable as long as no new money is entering the IRA in what you referred to as the one shot deal. Some maybe I have 200K in the IRA and I do 50k joint ownership splits across 1 or 2 more properties for a total of 3 or 4.
Hi Clint. What if something happens to the custodian you’re with? Like if the custodian went bankrupt or tried to scam you? Are your assets protected? I know traditional IRA providers like Fidelity are SIPC insured. Are these custodians also insured in a similar way? Thanks.
@@ClintCoonsWhat about the real estate that I hold in the IRA. If a custodian goes bankrupt for example, would I be able to just transfer the property to another custodian or would I have to sell the property and rollover the cash to another custodian? Or is the property also usually insured against situations like this? Thanks.
Clint, first off, let me say you and your partner are doing a fantastic job. I've watched several of your videos, and subscribe to you both. This video was a great step by step walkthrough of how to put together a SDIRA. You may already do this, but if you could have an overview version of this topic, as well as the step by step version, that would be perfect. Anyway, thanks for your work, be well.
Very informative. Keep doing what your doing 👍🏽
Appreciate it!
If I transfer a private property that has a mortgage to a Land Trust being held by an LLC New York, do I have to record it? Can I rent myself this property?
A deed is not required to be recorded to make a property transfer legal. So yes you can do as you described but you will not have any anonymity with the property ownership without recording the deed.
In that scenario where there is shared ownership btw the Wy LLC and the IRA because of insufficient funds in the IRA, if I have 100k each in the IRA and my Wy LLC, can I buy two separate properties owned by two separate LLCs (owned jointly by my IRA and Wy LLC) and contribute 50K to each property LLC out of each vehicle so that each (IRA & Wy LLC) now have joint ownership of two separate properties instead of just one. And is it repeatable as long as no new money is entering the IRA in what you referred to as the one shot deal. Some maybe I have 200K in the IRA and I do 50k joint ownership splits across 1 or 2 more properties for a total of 3 or 4.
Yes that should work
Hi Clint can you buy a property with a sdira owned LLC if it will be a 50/50 jv with someone else ?
Absolutely
Coach Clint!!
El Lenoir
Thanks for watching.
Hi Clint. What if something happens to the custodian you’re with? Like if the custodian went bankrupt or tried to scam you? Are your assets protected? I know traditional IRA providers like Fidelity are SIPC insured. Are these custodians also insured in a similar way? Thanks.
You would need to ask this of your custodian. Typically the custodian uses a bank or trust company that has insurance.
@@ClintCoonsWhat about the real estate that I hold in the IRA. If a custodian goes bankrupt for example, would I be able to just transfer the property to another custodian or would I have to sell the property and rollover the cash to another custodian? Or is the property also usually insured against situations like this? Thanks.
@@wanxiangchen9511 Yes provided the account was protected. I have not heard of this happening .
@@ClintCoons What IRA custodian company would you recommend using for real estate investing?
@@wanxiangchen9511 Consider the IRA Club