Rental Property LLC: Tax Benefits & Potential Downsides In Real Estate

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  • Опубліковано 11 вер 2024

КОМЕНТАРІ • 18

  • @FernandoBastos88
    @FernandoBastos88 Рік тому +2

    If the rental property is under LLC, who should be on the lease contract ? The owner personally or the LLC ? If the LLC get sued by tenants, the law can force to sell the assets to pay the lawsuit in the worst case scenario ?

    • @nouche-30064
      @nouche-30064 Рік тому +1

      In the Operating agreement, you can create an officer position who is going to sign all documents. Officer could be the president of the LLC. Mr Clint explains really good in another video.

    • @ClintCoons
      @ClintCoons  Рік тому +1

      The LLC will be on the lease agreement.

  • @idontwantachannelimjustcom7745

    How do you prevent title theft while having anonymity?

    • @ClintCoons
      @ClintCoons  Рік тому +1

      Make sure you use the stat where the entity is setup in the title and you could file a memorandum of interest against your property for added protection.

  • @mosim9691
    @mosim9691 Рік тому +3

    If there is a mortgage on the property will a bank allow the owner to put the property into an LLC?

    • @ClintCoons
      @ClintCoons  Рік тому

      Yes if the loan is held by Freddie or Fannie. DSCR loans also allow LLC ownership.

  • @klitsuk
    @klitsuk 11 місяців тому +1

    Thanks Clint, great video!
    No financing or refi on a LLC is a big con. Whats the strategy to overcome it? Commercial loans?

  • @mikejames9035
    @mikejames9035 Рік тому +1

    Quick question, if I am an executor of an estate with no will, can I finance a car to a third party with a monthly payment at fair market value? The car is worth probably $10k.

    • @ClintCoons
      @ClintCoons  Рік тому +2

      You probably could but I wouldn't because it will drag out the estate closing.

    • @mikejames9035
      @mikejames9035 Рік тому

      @@ClintCoons what is the main disadvantages of prolonging the estate from closing? This person also owns a small piece of land worth maybe 15k-$25k and a small boat 🚤.

    • @ClintCoons
      @ClintCoons  Рік тому +1

      @@mikejames9035 Possibly court costs, attorney fees, and fiduciary liability to the beneficiaries of the estate.

    • @mikejames9035
      @mikejames9035 Рік тому +1

      @@ClintCoons thanks a lot 👌

  • @ligayaatencio2902
    @ligayaatencio2902 6 місяців тому

    Thank you for your infomations. We have 3 properties for rentals. 1 properly is in Florida,and 2 properties is in New Jersey. How can we have an LLC in these properties.

    • @ClintCoons
      @ClintCoons  6 місяців тому +1

      You would set up LLCs for the NJ property but use a land trust for the FL property. I would also create a holding LLC to own all of the above entities and to provide anonymity.

  • @graphicdesignandwebsolutio365

    Would the ultimate work around be a privae express trust, as it gives you the more protection than an LLC, but as well, the trustee acts in sui juris and the trust can be considered an indiviidual... IJS